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Designs and makes barcode/RFID label printers and auto-ID labeling systems for retail, logistics and healthcare.
Designs and makes barcode/RFID label printers and auto-ID labeling systems for retail, logistics and healthcare.
Earns twice from each customer: printers sold once, then labels and ribbons bought repeatedly for as long as the printer runs, which makes consumables the recurring line. It sells through a mix of direct sales and channel partners, with markets outside Japan a growing part.
In one line: A smaller Zebra Technologies.
Moat: narrow (installed base, distribution, brand). Global installed printer base and consumables recur, but the market has several established rivals.
Headquarters: Tokyo, Japan · Founded: 1940 · Employees: 6,012
Size Sato (6287.T) is a Japan Information Technology company (Computer Peripherals) with a market value of $508M, the 1057th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,471 on 6 Nov 2026.
Performance Over six months the shares gained 18.7%, against -10.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 9.8% over the last twelve months (peer median +5.1%); the operating margin is 7.1% (peer median 4.4%).
Valuation It trades at 9.9× forward earnings against a peer median of 22.5× (5th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.6 points above its cost of capital (5.8% WACC).
Credit Sato has 1 bond outstanding ($334M), rated BBB by the agencies and trading like BBB+ at a weighted spread of 80 bp.
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥170B | ¥163B | ¥155B | ¥143B | ¥143B |
| Revenue growth | — | +6% | +8% | 0% | — |
| Gross profit | ¥68.1B | ¥65.3B | ¥63.5B | ¥59.1B | ¥56.7B |
| EBITDA | ¥18.3B | ¥17.0B | ¥17.9B | ¥15.5B | ¥14.0B |
| Net income | ¥6.42B | ¥5.09B | ¥7.15B | ¥3.56B | ¥4.18B |
| Free cash flow | ¥8.72B | ¥8.24B | ¥6.74B | ¥6.91B | -¥57.0M |
| Capital expenditure | ¥7.87B | ¥8.08B | ¥9.02B | ¥7.72B | ¥7.26B |
| Total debt | ¥23.9B | ¥17.3B | ¥19.5B | ¥17.6B | ¥15.5B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Sato 6287.T | $508M | +19% | +10% | 7% | 9.9× | -11.3% |
| Zebra Technologies ZBRA | $15.2B | +42% | +17% | 17% | 14.9× | 14.8% |
| Toshiba Tec 6588.T | $918M | -2% | +7% | 3% | 11.3× | n/a |
| Brother Industries 6448.T | $6.52B | +39% | +7% | 13% | 10.5× | -6.3% |
| Honeywell Technologies HON | $69.8B | -1% | -17% | 18% | 23.2× | 4.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 6287.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.3% | -18.0% | 5th highest of 21 |
| 6-month return | +18.7% | -10.2% | 3rd highest of 21 |
| Distance from 52-week high | -16.2% | -37.3% | highest of 21 |
| Revenue growth (TTM) | +9.8% | +5.1% | 9th highest of 21 |
| Operating margin | 7.1% | 4.4% | 7th highest of 21 |
| Forward P/E | 9.9× | 22.5× | 5th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | -11.3% | 10.1% | least demanding of 9 |
| Growth delivered (Del g) | +8.4% | +1.9% | 3rd highest of 9 |
| Hurdle (Req g minus delivered) | -19.7 pp | -4.8 pp | least demanding of 9 |
| ROIC minus cost of capital | +3.6 pp | -3.0 pp | 5th highest of 20 |
| EV / EBITDA | 4.2× | 9.0× | 2nd cheapest of 11 |
| Net debt / EBITDA | -0.4× | -1.6× | 4th most indebted of 13 |
| Bond spread | 80 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sato 6287.T | Japan | $508M | +19% | +10% | 7% | 9.9× | -11.3% | +8.4% |
| Huasu 000509.SZ | China | $502M | -13% | -23% | -2% | n/a | n/a | n/a |
| Shenzhen Fluence Technology 300647.SZ | China | $517M | +7% | +12% | -20% | n/a | n/a | n/a |
| Taiwan Semiconductor 5425.TWO | Taiwan | $520M | +7% | +5% | 9% | 18.3× | 7.6% | +11.6% |
| Backblaze BLZE | United States | $523M | +10% | +17% | -4% | 26.7× | 12.7% | +22.1% |
| Surfilter Network Technology 300311.SZ | China | $488M | -11% | +15% | 7% | n/a | n/a | n/a |
| Buffalo 6676.T | Japan | $458M | +23% | -19% | 8% | 9.3× | -10.5% | -2.0% |
| Stratasys SSYS | United States | $565M | -25% | -3% | -14% | 45.9× | n/a | n/a |
| Newcapec Electronics 300248.SZ | China | $567M | -17% | +1% | 1% | 32.0× | 21.5% | +0.9% |
| Quantum QMCO | United States | $570M | +100% | +11% | 0% | 27.1× | n/a | n/a |
| Wacom 6727.T | Japan | $570M | -6% | -3% | 13% | 9.3× | -6.0% | +0.3% |
| Alpha Networks 3380.TW | Taiwan | $437M | -23% | +11% | 1% | 26.9× | n/a | n/a |
| Shenzhen Emperor Technology 300546.SZ | China | $434M | -22% | +8% | 3% | n/a | 38.7% | +7.9% |
| Hanwang Technology 002362.SZ | China | $596M | -12% | -2% | -13% | 81.8× | n/a | n/a |
| Chengdu Jiafaantai Education Technology 300559.SZ | China | $602M | -26% | -26% | 0% | 35.5× | 35.7% | -6.0% |
| Riso Kagaku 6413.T | Japan | $418M | +3% | +5% | 6% | 16.2× | -2.7% | +2.9% |
| Quanta Storage 6188.TWO | Taiwan | $409M | -45% | +3% | 7% | n/a | n/a | n/a |
| AAEON Technology 6579.TW | Taiwan | $633M | -10% | +30% | 9% | n/a | n/a | n/a |
| IEI Integration 3022.TW | Taiwan | $405M | +1% | +3% | 6% | 10.8× | n/a | n/a |
| Apacer Technology 8271.TW | Taiwan | $655M | -28% | +182% | 31% | 2.1× | n/a | n/a |
| PC Partner PCT.SI | Singapore | $662M | +4% | +18% | 7% | 7.4× | n/a | n/a |
Sato has 1 bond outstanding with $334M face value. The agencies rate it BBB; its bonds trade like BBB+. Weighted yield 3.72%, a spread of 80 bp over government bonds.