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Japanese pioneer of the compact/mini excavator, exporting heavily to North America and Europe for construction and landscaping use.
Japanese pioneer of the compact/mini excavator, exporting heavily to North America and Europe for construction and landscaping use.
Sells nearly all its output through independent dealers abroad, with North America and Europe the main markets, so results follow construction and rental-fleet spending there and the yen exchange rate. It designs and builds in Nagano, Japan, and owns its US sales company.
In one line: A compact-excavator specialist exporter, akin to a focused Bobcat.
Moat: narrow (brand, IP / patents). Pioneer status and engineering reputation in mini-excavators built strong dealer loyalty over decades.
Headquarters: Sakai, Osaka, Japan · Founded: 1963 · Employees: 1,366
Size Takeuchi Mfg.Co (6432.T) is a Japan Industrials company (Trucks/Construction/Farm Machinery) with a market value of $2.21B, the 455th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥7,310 on 6 Nov 2026.
Performance Over six months the shares gained 4.1%, against -13.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 11.9% over the last twelve months (peer median +12.4%); the operating margin is 15.8% (peer median 6.3%).
Valuation It trades at 10.6× forward earnings against a peer median of 11.2× (8th cheapest of 19).
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 +15%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.3 points above its cost of capital (10.9% WACC).
Next results Next results expected around 8 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥244B | ¥225B | ¥213B | ¥213B | ¥179B |
| Revenue growth | — | +6% | 0% | +19% | — |
| Gross profit | ¥59.4B | ¥58.6B | ¥58.2B | ¥53.8B | ¥44.6B |
| EBITDA | ¥41.6B | ¥40.9B | ¥40.9B | ¥38.6B | ¥23.3B |
| Net income | ¥29.3B | ¥28.3B | ¥26.1B | ¥26.1B | ¥16.0B |
| Free cash flow | n/a | ¥20.0B | ¥5.01B | ¥17.1B | -¥229M |
| Capital expenditure | n/a | ¥3.27B | ¥3.34B | ¥7.86B | ¥9.00B |
| Total debt | ¥825M | ¥100M | ¥110M | ¥43.0M | ¥40.0M |
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 |
|---|---|---|---|---|---|---|
| Takeuchi Mfg.Co 6432.T | $2.21B | +4% | +12% | 16% | 10.6× | 4.0% |
| Kubota 6326.T | $18.2B | 0% | +13% | 11% | 10.0× | 7.5% |
| Doosan Bobcat 241560.KS | $3.64B | -28% | +11% | 9% | 9.0× | -13.3% |
| Caterpillar CAT | $257B | -38% | +20% | 19% | 18.8× | 18.0% |
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 | 6432.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.9% | -0.6% | 9th lowest of 21 |
| 6-month return | +4.1% | -13.4% | 3rd highest of 21 |
| Distance from 52-week high | -11.3% | -33.1% | highest of 21 |
| Revenue growth (TTM) | +11.9% | +12.4% | 10th lowest of 21 |
| Operating margin | 15.8% | 6.3% | 3rd highest of 21 |
| Forward P/E | 10.6× | 11.2× | 8th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 4.0% | -2.6% | 5th most demanding of 15 |
| Growth delivered (Del g) | +14.9% | +6.8% | 3rd highest of 15 |
| Hurdle (Req g minus delivered) | -10.9 pp | -7.6 pp | 6th least demanding of 15 |
| ROIC minus cost of capital | +5.3 pp | +0.2 pp | 4th highest of 21 |
| EV / EBITDA | 7.5× | 8.9× | 4th cheapest of 9 |
| Net debt / EBITDA | -0.8× | 1.2× | 2nd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Takeuchi Mfg.Co 6432.T | Japan | $2.21B | +4% | +12% | 16% | 10.6× | 4.0% | +14.9% |
| Sumec 600710.SS | China | $2.18B | -9% | +14% | 4% | 9.8× | -17.2% | +3.6% |
| ZHEJIANG ZHONGJIAN TECHNOLOGY 002779.SZ | China | $2.26B | +2% | +28% | -17% | 150.7× | n/a | n/a |
| Trinity Industries TRN | United States | $2.30B | -20% | -2% | 13% | 15.8× | n/a | n/a |
| CIMC Vehicles (Group) 301039.SZ | China | $2.07B | -18% | +6% | 4% | 16.6× | -4.3% | -5.2% |
| China Railway Hi-tech Industry 600528.SS | China | $2.37B | -9% | -8% | 5% | n/a | -4.0% | +2.6% |
| NFI NFI.TO | Canada | $2.06B | +13% | +15% | 2% | 11.0× | 12.0% | +9.3% |
| Anhui Heli 600761.SS | China | $2.06B | -14% | +13% | 7% | 10.9× | -6.7% | +9.2% |
| Shantui Construction Machinery 000680.SZ | China | $2.06B | -22% | +14% | 10% | 9.8× | -4.4% | +15.6% |
| Cadeler A/S CADLR.OL | Norway | $2.41B | -14% | +53% | 36% | 9.4× | n/a | n/a |
| Mitsui ES 7003.T | Japan | $1.98B | -45% | +12% | 11% | 8.7× | 16.0% | -11.3% |
| First Tractor 601038.SS | China | $1.95B | +2% | +12% | 6% | 17.5× | -1.6% | +7.5% |
| Beijing Jiuzhouyigui Environmental Technology 688485.SS | China | $1.91B | +29% | +9% | 2% | n/a | n/a | n/a |
| Guangxi Liugong Machinery 000528.SZ | China | $2.58B | -13% | +10% | 6% | 10.5× | -3.5% | +5.0% |
| Garden Reach Shipbuilders & Engineers GRSE.NS | India | $2.60B | -31% | +40% | 10% | 26.5× | n/a | n/a |
| Nisshinbo 3105.T | Japan | $1.87B | -9% | +2% | 7% | 11.5× | 3.6% | +1.9% |
| Hd Ce 267270.KS | South Korea | $2.80B | -56% | +115% | 8% | 8.6× | -9.6% | +9.6% |
| Deutz DEZ.DE | Germany | $1.74B | -13% | +11% | 5% | 11.4× | 19.8% | +9.5% |
| Sany Heavy Equipment International 0631.HK | Hong Kong | $2.82B | -46% | +19% | 6% | 8.9× | 1.4% | +26.1% |
| BEML BEML.NS | India | $1.72B | -2% | +13% | 6% | 39.1× | n/a | n/a |
| Xiangyang Changyuandonggu Industry 603950.SS | China | $1.72B | -36% | -8% | 17% | 22.8× | 22.1% | +6.1% |