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Japanese maker of hydraulic excavators, mining trucks and construction machinery, sold globally including via a Deere joint venture.
Japanese maker of hydraulic excavators, mining trucks and construction machinery, sold globally including via a Deere joint venture.
Revenue comes in two layers: new machines sold through dealers and to large miners, which swing with construction and mining investment, and parts, repair and fleet-monitoring services on machines already working, which are steadier. Sales run through a worldwide dealer network.
In one line: Japan's Caterpillar/Deere in construction equipment.
Moat: narrow (brand, distribution, installed base). Strong dealer network and installed base drive parts/service revenue amid cyclical demand.
Headquarters: Tokyo, Japan · Founded: 1970 · Employees: 25,304
Size Hitachi Construction Machinery (6305.T) is a Japan Industrials company (Trucks/Construction/Farm Machinery) with a market value of $6.36B, the 199th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,827 on 6 Nov 2026.
Performance Over six months the shares fell 11.8%, against -9.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 6.6% over the last twelve months (peer median +7.7%); the operating margin is 10.2% (peer median 9.3%).
Valuation It trades at 11.2× forward earnings against a peer median of 17.1× (3rd cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.1 points below its cost of capital (9.2% WACC).
Next results Next results expected around 22 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.45T | ¥1.41T | ¥1.37T | ¥1.41T | ¥1.26T |
| Revenue growth | — | +2% | -2% | +11% | — |
| Gross profit | ¥449B | ¥417B | ¥429B | ¥435B | ¥378B |
| EBITDA | ¥227B | ¥211B | ¥219B | ¥236B | ¥200B |
| Net income | ¥85.1B | ¥73.2B | ¥81.4B | ¥93.3B | ¥70.2B |
| Free cash flow | ¥108B | ¥123B | ¥112B | ¥27.3B | -¥79.0B |
| Capital expenditure | ¥51.3B | ¥49.0B | ¥45.1B | ¥55.6B | ¥59.1B |
| Total debt | ¥563B | ¥569B | ¥610B | ¥650B | ¥579B |
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 |
|---|---|---|---|---|---|---|
| Hitachi Construction Machinery 6305.T | $6.36B | -12% | +7% | 10% | 11.2× | 3.9% |
| Komatsu 6301.T | $32.2B | -12% | +9% | 13% | 13.1× | 9.5% |
| Caterpillar CAT | $257B | -38% | +20% | 19% | 18.8× | 18.0% |
| Deere & DE | $181B | +17% | +8% | 20% | 32.0× | 16.2% |
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 | 6305.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.8% | -6.6% | 6th lowest of 21 |
| 6-month return | -11.8% | -9.2% | 11th highest of 21 |
| Distance from 52-week high | -32.0% | -29.1% | 10th lowest of 21 |
| Revenue growth (TTM) | +6.6% | +7.7% | 10th lowest of 21 |
| Operating margin | 10.2% | 9.3% | 11th highest of 21 |
| Forward P/E | 11.2× | 17.1× | 3rd cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 3.9% | 3.1% | 9th most demanding of 19 |
| Growth delivered (Del g) | +11.6% | +11.5% | 10th highest of 19 |
| Hurdle (Req g minus delivered) | -7.6 pp | -6.6 pp | 10th least demanding of 19 |
| ROIC minus cost of capital | -2.1 pp | +7.8 pp | 7th lowest of 19 |
| EV / EBITDA | 6.6× | 11.8× | 2nd cheapest of 16 |
| Net debt / EBITDA | 1.9× | 1.0× | 6th most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hitachi Construction Machinery 6305.T | Japan | $6.36B | -12% | +7% | 10% | 11.2× | 3.9% | +11.6% |
| Terex TEX | United States | $6.18B | -14% | +40% | 7% | 9.9× | 12.1% | +12.0% |
| Babcock International BAB.L | United Kingdom | $6.60B | 0% | +7% | 6% | 15.4× | 13.2% | +5.5% |
| Hyundai Rotem 064350.KS | South Korea | $5.75B | -73% | +12% | 15% | 9.7× | -4.0% | +16.0% |
| Doosan 000150.KS | South Korea | $7.10B | -60% | +11% | 6% | 16.1× | 15.0% | +11.6% |
| TKMS AG & Co. KGaA TKMS.DE | Germany | $5.57B | +8% | +15% | 5% | 39.8× | n/a | n/a |
| Alstom ALO.PA | France | $5.56B | -40% | +4% | 4% | n/a | 2.7% | +16.9% |
| Accelleron Industries ACLN.SW | Switzerland | $7.29B | -25% | +13% | 25% | 25.1× | 3.5% | +12.1% |
| Kongsberg Maritime KMAR.OL | Norway | $5.43B | -1% | +6% | 13% | 21.8× | 0.9% | +6.3% |
| Konecranes KCR.HE | Finland | $7.47B | +5% | -1% | 13% | 15.9× | 9.1% | +5.7% |
| Gaztransport & Technigaz GTT.PA | France | $7.50B | -13% | +9% | 64% | 16.1× | -3.1% | +15.2% |
| AGCO AGCO | United States | $7.61B | -6% | +1% | 6% | 17.1× | 10.5% | +2.0% |
| Mazagon Dock Shipbuilders MAZDOCK.NS | India | $7.87B | -31% | +8% | 15% | 30.5× | n/a | n/a |
| Fincantieri FCT.MI | Italy | $4.98B | +3% | -1% | 0% | 21.5× | 1.2% | +9.1% |
| Weir WEIR.L | United Kingdom | $8.18B | -3% | +6% | 18% | 18.1× | 19.3% | +5.5% |
| Seatrium 5E2.SI | Singapore | $4.77B | -19% | +11% | 4% | 13.0× | 4.0% | +50.0% |
| Zhejiang Dingli Machinery 603338.SS | China | $4.57B | +9% | +29% | 22% | 14.8× | 1.6% | +23.7% |
| CSSC Offshore & Marine Engineering (Group) 600685.SS | China | $4.16B | -19% | +5% | 1% | 23.9× | 1.1% | +12.1% |
| Toro TTC | United States | $9.92B | +10% | +5% | 11% | 21.2× | 5.6% | +6.0% |
| SamsungHvyInd 010140.KS | South Korea | $10.2B | -50% | +30% | 27% | 13.3× | -20.3% | +11.4% |
| Bucher Industries BUCN.SW | Switzerland | $3.93B | +4% | -4% | 7% | 19.1× | -2.9% | +1.2% |