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Makes printers, sewing machines and industrial machinery for home and business use.
Makes printers, sewing machines and industrial machinery for home and business use.
Printers and multi-function machines sell at modest prices and earn their keep through repeat ink and toner purchases. The 2015 purchase of Domino, a maker of industrial coding and marking printers, opened a second business in factory labeling. Machine tools and sewing machines are the smaller, more cyclical lines.
In one line: Japan's HP Printers plus Singer.
Moat: narrow (brand, installed base). Recurring ink/toner consumables revenue from an installed base of printers.
Headquarters: Nagoya, Japan · Founded: 1908 · Employees: 39,495
Size Brother Industries (6448.T) is a Japan Information Technology company (Computer Peripherals) with a market value of $6.52B, the 195th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,154 on 6 Nov 2026.
Performance Over six months the shares gained 39.2%, against -2.8% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 6.7% over the last twelve months (peer median +12.7%); the operating margin is 12.8% (peer median 11.5%).
Valuation It trades at 10.5× forward earnings against a peer median of 13.8× (6th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.1 points above its cost of capital (8.3% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥934B | ¥893B | ¥849B | ¥823B | ¥815B |
| Revenue growth | — | +5% | +3% | +1% | — |
| Gross profit | ¥421B | ¥356B | ¥341B | ¥333B | ¥300B |
| EBITDA | ¥170B | ¥132B | ¥124B | ¥123B | ¥103B |
| Net income | ¥106B | ¥67.6B | ¥54.8B | ¥31.6B | ¥39.1B |
| Free cash flow | ¥118B | ¥78.5B | ¥54.2B | ¥103B | -¥16.8B |
| Capital expenditure | ¥43.3B | ¥44.0B | ¥47.1B | ¥47.5B | ¥42.5B |
| Total debt | ¥799M | ¥29.1B | ¥33.3B | ¥37.7B | ¥66.9B |
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 |
|---|---|---|---|---|---|---|
| Brother Industries 6448.T | $6.52B | +39% | +7% | 13% | 10.5× | -6.3% |
| Seiko Epson 6724.T | $5.39B | +27% | +8% | 6% | 11.9× | 0.8% |
| HP Inc. HPQ | $25.7B | +27% | +9% | 7% | 9.5× | -7.0% |
| Ricoh 7752.T | $6.06B | +28% | +5% | 3% | 13.6× | -1.0% |
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 | 6448.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.0% | -19.9% | 9th highest of 21 |
| 6-month return | +39.2% | -2.8% | 3rd highest of 21 |
| Distance from 52-week high | -17.9% | -39.3% | 2nd highest of 21 |
| Revenue growth (TTM) | +6.7% | +12.7% | 7th lowest of 21 |
| Operating margin | 12.8% | 11.5% | 10th highest of 21 |
| Forward P/E | 10.5× | 13.8× | 6th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -6.3% | 8.2% | least demanding of 7 |
| Growth delivered (Del g) | +7.2% | +10.5% | 3rd lowest of 7 |
| Hurdle (Req g minus delivered) | -13.5 pp | +0.3 pp | 2nd least demanding of 7 |
| ROIC minus cost of capital | +6.1 pp | +11.1 pp | 10th lowest of 21 |
| EV / EBITDA | 4.7× | 10.1× | 4th cheapest of 13 |
| Net debt / EBITDA | -1.4× | -0.2× | 3rd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Brother Industries 6448.T | Japan | $6.52B | +39% | +7% | 13% | 10.5× | -6.3% | +7.2% |
| Everdisplay Optronics (Shanghai) 688538.SS | China | $6.72B | -9% | -2% | -31% | n/a | n/a | n/a |
| Shenzhen Kaifa Technology 000021.SZ | China | $6.13B | -11% | +14% | 11% | 29.2× | n/a | n/a |
| AUO 2409.TW | Taiwan | $6.02B | +49% | -1% | -2% | n/a | n/a | n/a |
| Gigabyte Technology 2376.TW | Taiwan | $6.01B | +7% | +38% | 5% | 8.1× | n/a | n/a |
| Seiko Epson 6724.T | Japan | $5.39B | +27% | +8% | 6% | 11.9× | 0.8% | +7.2% |
| E Ink 8069.TWO | Taiwan | $4.98B | +2% | -3% | 29% | 12.4× | -0.3% | +18.6% |
| Hubei Dinglong 300054.SZ | China | $8.79B | -2% | +7% | 30% | 51.4× | 32.2% | +15.0% |
| Biwin Storage Technology 688525.SS | China | $8.99B | -52% | +221% | 41% | 5.0× | n/a | n/a |
| Unisplendour 000938.SZ | China | $10.4B | -24% | +25% | 3% | 21.8× | n/a | n/a |
| Sichuan Changhong Electric 600839.SS | China | $3.55B | -41% | +4% | 0% | n/a | n/a | n/a |
| Hangzhou EZVIZ Network 688475.SS | China | $3.53B | -4% | +8% | 12% | 30.1× | 15.7% | +13.8% |
| Micro-Star International 2377.TW | Taiwan | $3.50B | +43% | +1% | 5% | 11.6× | n/a | n/a |
| Transcend Information 2451.TW | Taiwan | $3.22B | -13% | +286% | 67% | 3.2× | n/a | n/a |
| Logitech International LOGN.SW | Switzerland | $13.2B | -1% | -1% | 18% | 16.8× | -5.7% | -4.3% |
| Lite-on Technology 2301.TW | Taiwan | $13.2B | +16% | +24% | 13% | 13.8× | n/a | n/a |
| ADATA Technology 3260.TWO | Taiwan | $3.16B | -33% | +125% | 34% | 4.5× | n/a | n/a |
| Extreme Networks EXTR | United States | $3.15B | 0% | +11% | 6% | 17.2× | 27.3% | +4.9% |
| AURAS Technology 3324.TWO | Taiwan | $2.90B | -10% | +71% | 16% | 15.1× | n/a | n/a |
| Innodisk 5289.TWO | Taiwan | $2.76B | -35% | +334% | 49% | 2.5× | n/a | n/a |
| VusionGroup VU.PA | France | $2.61B | +11% | +45% | 10% | 16.5× | n/a | n/a |