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Leading maker of commercial kitchen equipment — ice machines, refrigerators and dishwashers — for restaurants and foodservice.
Leading maker of commercial kitchen equipment — ice machines, refrigerators and dishwashers — for restaurants and foodservice.
In the US it sells through dealers and distributors rather than direct to restaurants, and its service network keeps installed machines running and sells replacement parts. The US is its biggest overseas market, served by a factory in Georgia; at home in Japan it is the largest ice-machine maker.
In one line: Comparable to Manitowoc/True Manufacturing in commercial refrigeration.
Moat: narrow (brand, distribution, installed base). Leading commercial ice-machine/refrigeration brand with strong service/distribution networks globally.
Headquarters: Toyoake, Japan · Founded: 1947 · Employees: 17,041
Size HOSHIZAKI (6465.T) is a Japan Industrials company (Industrial Machinery) with a market value of $4.93B, the 245th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥5,367 on 6 Nov 2026.
Performance Over six months the shares gained 5.3%, against -16.9% for the median peer and +1.8% for the Japan market (cap-weighted) — 4th highest of 20 in its peer set.
Growth Revenue grew 11.8% over the last twelve months (peer median +11.9%); the operating margin is 10.4% (peer median 15.7%).
Valuation It trades at 17.8× forward earnings against a peer median of 21.9× (7th 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 -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.7 points above its cost of capital (5.0% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥521B | ¥486B | ¥445B | ¥374B | ¥321B |
| Revenue growth | — | +9% | +19% | +16% | — |
| Gross profit | ¥194B | ¥181B | ¥166B | ¥136B | ¥112B |
| EBITDA | ¥72.6B | ¥66.5B | ¥62.6B | ¥51.1B | ¥34.0B |
| Net income | ¥38.5B | ¥38.1B | ¥36.9B | ¥32.8B | ¥24.0B |
| Free cash flow | n/a | ¥21.7B | ¥37.8B | ¥31.6B | ¥14.0M |
| Capital expenditure | n/a | ¥13.7B | ¥10.9B | ¥7.26B | ¥5.93B |
| Total debt | ¥22.0B | ¥10.8B | ¥9.05B | ¥2.74B | ¥1.90B |
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 |
|---|---|---|---|---|---|---|
| HOSHIZAKI 6465.T | $4.93B | +5% | +12% | 10% | 17.8× | -4.5% |
| Panasonic 6752.T | $44.5B | -6% | +4% | 8% | 13.5× | 9.8% |
| Middleby MIDD | $6.17B | +3% | -7% | 17% | 18.5× | 6.9% |
| Electrolux Professional EPRO-B.ST | $1.52B | +20% | -4% | 10% | 16.2× | 4.9% |
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 | 6465.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.2% | -14.7% | 7th highest of 21 |
| 6-month return | +5.3% | -16.9% | 4th highest of 20 |
| Distance from 52-week high | -9.1% | -40.1% | 2nd highest of 21 |
| Revenue growth (TTM) | +11.8% | +11.9% | 11th highest of 21 |
| Operating margin | 10.4% | 15.7% | 6th lowest of 21 |
| Forward P/E | 17.8× | 21.9× | 7th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -4.5% | 12.6% | least demanding of 14 |
| Growth delivered (Del g) | +15.3% | +9.9% | 5th highest of 14 |
| Hurdle (Req g minus delivered) | -19.8 pp | +2.7 pp | 2nd least demanding of 14 |
| ROIC minus cost of capital | +7.7 pp | +0.7 pp | 6th highest of 21 |
| EV / EBITDA | 9.0× | 15.6× | 3rd cheapest of 11 |
| Net debt / EBITDA | -2.0× | 0.7× | least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HOSHIZAKI 6465.T | Japan | $4.93B | +5% | +12% | 10% | 17.8× | -4.5% | +15.3% |
| Kion KGX.DE | Germany | $5.05B | -25% | +3% | 6% | 10.4× | n/a | n/a |
| Horiba 6856.T | Japan | $4.79B | -17% | +12% | 17% | 14.4× | 11.2% | +12.2% |
| UBTECH ROBOTICS 9880.HK | Hong Kong | $4.73B | -41% | +90% | -21% | n/a | n/a | n/a |
| ESAB ESAB | United States | $5.15B | -18% | +11% | 13% | 14.0× | 12.7% | +7.8% |
| AAON AAON | United States | $4.72B | -59% | +54% | 11% | 20.7× | n/a | n/a |
| Hangcha 603298.SS | China | $4.71B | -12% | +7% | 12% | 13.3× | 2.9% | +9.1% |
| Wuhan DR Laser Technology 300776.SZ | China | $4.69B | -24% | -23% | 19% | 37.9× | 51.8% | +13.6% |
| Circuit Fabology Microelectronics Equipment 9630.HK | Hong Kong | $4.68B | n/a | +103% | 27% | 36.1× | 8.5% | +34.4% |
| Neway Valve (Suzhou) 603699.SS | China | $4.66B | -36% | +11% | 26% | 17.9× | 10.0% | +16.5% |
| Renishaw RSW.L | United Kingdom | $4.61B | -7% | +14% | 16% | 18.5× | 24.8% | +7.5% |
| Rainbow Robotics 277810.KS | South Korea | $4.59B | -52% | +92% | -16% | 653.8× | n/a | n/a |
| Interpump IP.MI | Italy | $4.57B | +3% | +1% | 14% | 16.8× | 12.6% | +9.9% |
| LandMark Optoelectronics 3081.TWO | Taiwan | $5.38B | -32% | +105% | 38% | 54.3× | n/a | n/a |
| Rotork ROR.L | United Kingdom | $5.40B | +65% | +2% | 24% | 27.9× | 27.6% | +5.2% |
| Alliance Laundry ALH | United States | $4.49B | -11% | +10% | 19% | 16.4× | 15.2% | +7.5% |
| Zhejiang Shuanghuan Driveline 002472.SZ | China | $5.46B | +9% | +15% | 15% | 26.9× | 11.0% | +20.0% |
| Enpro NPO | United States | $5.47B | -16% | +16% | 16% | 23.2× | 26.1% | +1.3% |
| Jusung Engineering 036930.KS | South Korea | $4.39B | +5% | -33% | 0% | 145.3× | n/a | n/a |
| Mycronic MYCR.ST | Sweden | $5.57B | -4% | +17% | 29% | 24.9× | 10.1% | +15.6% |
| Leo 002131.SZ | China | $4.33B | -34% | +10% | -1% | n/a | n/a | n/a |