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Japanese maker of ball/roller bearings and constant-velocity joints for automotive and industrial machinery.
Japanese maker of ball/roller bearings and constant-velocity joints for automotive and industrial machinery.
Sells bearings and drive-shaft joints to automakers on programmes tied to specific vehicle models, so it is designed in years before volumes start, with industrial machinery and replacement-parts sales alongside. It ranks third among Japan's bearing makers. A large part of its sales comes from outside Japan.
In one line: A Japanese Timken/SKF rival.
Moat: narrow (scale, process know-how). Established global bearing and CV-joint manufacturing scale, though third among Japanese bearing makers.
Headquarters: Osaka, Japan · Founded: 1918 · Employees: 21,305
Size Ntn (6472.T) is a Japan Industrials company (Auto Parts: OEM) with a market value of $1.23B, the 650th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥326 on 6 Nov 2026.
Performance Over six months the shares fell 14.8%, against +1.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 2.9% over the last twelve months (peer median +10.0%); the operating margin is 4.2% (peer median 10.4%).
Valuation It trades at 13.4× forward earnings against a peer median of 13.1× (8th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.6 points below its cost of capital (6.6% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥838B | ¥826B | ¥826B | ¥836B | ¥774B |
| Revenue growth | — | 0% | -1% | +8% | — |
| Gross profit | ¥162B | ¥159B | ¥148B | ¥152B | ¥133B |
| EBITDA | ¥75.9B | ¥71.5B | ¥65.6B | ¥70.2B | ¥59.4B |
| Net income | ¥15.2B | ¥12.9B | -¥23.8B | ¥10.6B | ¥10.4B |
| Free cash flow | ¥40.8B | ¥28.1B | ¥22.1B | ¥40.4B | ¥14.5B |
| Capital expenditure | ¥32.7B | ¥32.2B | ¥26.4B | ¥27.1B | ¥23.7B |
| Total debt | ¥277B | ¥336B | ¥370B | ¥379B | ¥388B |
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 |
|---|---|---|---|---|---|---|
| Ntn 6472.T | $1.23B | -15% | +3% | 4% | 13.4× | -2.1% |
| NSK 6471.T | $2.87B | -27% | +26% | 5% | 12.9× | 1.9% |
| Jtekt 6473.T | $3.82B | -1% | +4% | 5% | 11.4× | 1.2% |
| SKF SKF-A.ST | $12.7B | +18% | -10% | 12% | 16.4× | 5.8% |
| Timken TKR | $7.07B | -14% | +6% | 15% | 14.5× | 3.7% |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 6472.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.2% | -7.7% | 6th lowest of 21 |
| 6-month return | -14.8% | +1.1% | 7th lowest of 21 |
| Distance from 52-week high | -33.1% | -27.6% | 10th lowest of 21 |
| Revenue growth (TTM) | +2.9% | +10.0% | 5th lowest of 21 |
| Operating margin | 4.2% | 10.4% | 3rd lowest of 21 |
| Forward P/E | 13.4× | 13.1× | 8th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | -2.1% | -3.8% | 8th most demanding of 17 |
| Growth delivered (Del g) | +8.0% | +8.1% | 9th highest of 17 |
| Hurdle (Req g minus delivered) | -10.1 pp | -9.3 pp | 9th least demanding of 17 |
| ROIC minus cost of capital | -1.6 pp | +2.1 pp | 6th lowest of 20 |
| EV / EBITDA | 4.9× | 9.0× | cheapest of 18 |
| Net debt / EBITDA | 2.2× | -0.3× | 4th most indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ntn 6472.T | Japan | $1.23B | -15% | +3% | 4% | 13.4× | -2.1% | +8.0% |
| Seikoh Giken 6834.T | Japan | $1.23B | +17% | +55% | 28% | 18.9× | 24.6% | +15.2% |
| PILLAR 6490.T | Japan | $1.25B | -9% | +10% | 22% | 11.5× | 18.0% | +14.5% |
| JAC Recruitment 2124.T | Japan | $1.21B | +34% | +12% | 26% | 19.3× | -1.0% | +16.4% |
| Union Tool 6278.T | Japan | $1.20B | -41% | +40% | 25% | 14.8× | 22.0% | +12.0% |
| Takara standard 7981.T | Japan | $1.20B | +2% | +2% | 7% | n/a | -5.5% | +5.7% |
| Takuma 6013.T | Japan | $1.26B | -1% | +18% | 10% | 13.6× | -5.4% | +2.5% |
| PowerX 485A.T | Japan | $1.20B | -55% | +213% | -1% | n/a | n/a | n/a |
| Muninova 547A.T | Japan | $1.19B | -16% | +13% | 17% | 5.6× | n/a | n/a |
| Nippon Densetsu Kogyo 1950.T | Japan | $1.29B | -30% | +10% | 12% | 9.9× | -0.1% | +3.2% |
| Kumagai Gumi 1861.T | Japan | $1.30B | -20% | -4% | 6% | 9.0× | -9.2% | +1.6% |
| SMS 2175.T | Japan | $1.31B | +33% | +8% | 11% | 31.1× | 19.2% | +12.5% |
| Inabata & 8098.T | Japan | $1.31B | +6% | +5% | 3% | n/a | -7.8% | +7.6% |
| Taikisha 1979.T | Japan | $1.32B | -5% | -1% | 8% | 10.6× | -13.3% | +7.2% |
| Daiichikosho 7458.T | Japan | $1.13B | +6% | +4% | 11% | 13.0× | -6.0% | +11.8% |
| Nittetsu Mining 1515.T | Japan | $1.34B | +10% | +13% | 9% | n/a | n/a | n/a |
| TKC 9746.T | Japan | $1.34B | +21% | +14% | 22% | 18.1× | -9.9% | +4.2% |
| Open Up 2154.T | Japan | $1.11B | +12% | -11% | 10% | 13.1× | -6.5% | +11.1% |
| Yamabiko 6250.T | Japan | $1.11B | +8% | +10% | 13% | 9.9× | -2.2% | +5.7% |
| Nishi-Nippon Railroad 9031.T | Japan | $1.37B | 0% | +10% | 7% | 9.0× | n/a | n/a |
| Ushio 6925.T | Japan | $1.37B | -15% | +6% | 8% | 17.6× | 8.3% | +8.6% |