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Maker of automotive steering systems and industrial/machine-tool bearings, part of the Toyota group.
Maker of automotive steering systems and industrial/machine-tool bearings, part of the Toyota group.
Wins steering and driveline contracts platform by platform with automakers, led by Toyota, and then supplies parts for each model's life, so sales follow vehicle output. Formed in 2006 from the merger of Koyo Seiko, a bearing maker, and Toyoda Machine Works, it sells bearings under the Koyo brand and machine tools under the Toyoda brand.
In one line: A Toyota-group NSK/Timken hybrid.
Moat: narrow (scale, customer qualification, process know-how). Top-tier global steering-systems maker with Toyota-group ties and bearing manufacturing scale.
Headquarters: Osaka, Japan · Founded: 2006 · Employees: 43,233
Size Jtekt (6473.T) is a Japan Consumer Discretionary company (Auto Parts: OEM) with a market value of $3.82B, the 298th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,892 on 6 Nov 2026.
Performance Over six months the shares fell 1.1%, against -13.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 3.7% over the last twelve months (peer median +8.3%); the operating margin is 4.7% (peer median 7.2%).
Valuation It trades at 11.4× forward earnings against a peer median of 13.6× (9th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.6 points below its cost of capital (9.5% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.97T | ¥1.92T | ¥1.88T | ¥1.89T | ¥1.68T |
| Revenue growth | — | +2% | 0% | +13% | — |
| Gross profit | ¥319B | ¥332B | ¥316B | ¥318B | ¥285B |
| EBITDA | ¥166B | ¥145B | ¥135B | ¥144B | ¥121B |
| Net income | ¥21.6B | ¥12.0B | ¥13.7B | ¥40.3B | ¥34.3B |
| Free cash flow | ¥39.1B | ¥19.0B | -¥8.06B | ¥95.7B | ¥22.5B |
| Capital expenditure | ¥75.7B | ¥89.5B | ¥91.5B | ¥81.4B | ¥55.8B |
| Total debt | ¥216B | ¥229B | ¥248B | ¥251B | ¥263B |
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 |
|---|---|---|---|---|---|---|
| Jtekt 6473.T | $3.82B | -1% | +4% | 5% | 11.4× | 1.2% |
| NSK 6471.T | $2.87B | -27% | +26% | 5% | 12.9× | 1.9% |
| Ntn 6472.T | $1.23B | -15% | +3% | 4% | 13.4× | -2.1% |
| Nexteer Automotive 1316.HK | $1.40B | -14% | +6% | 4% | 8.5× | -13.5% |
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 | 6473.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.9% | -5.3% | 6th lowest of 21 |
| 6-month return | -1.1% | -13.1% | 3rd highest of 21 |
| Distance from 52-week high | -16.4% | -31.8% | 3rd highest of 21 |
| Revenue growth (TTM) | +3.7% | +8.3% | 7th lowest of 21 |
| Operating margin | 4.7% | 7.2% | 7th lowest of 21 |
| Forward P/E | 11.4× | 13.6× | 9th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 1.2% | 0.5% | 9th most demanding of 18 |
| Growth delivered (Del g) | +9.1% | +8.9% | 9th highest of 17 |
| Hurdle (Req g minus delivered) | -7.9 pp | -9.0 pp | 8th most demanding of 17 |
| ROIC minus cost of capital | -2.6 pp | +1.4 pp | 5th lowest of 21 |
| EV / EBITDA | 4.2× | 5.7× | 3rd cheapest of 11 |
| Net debt / EBITDA | 0.4× | 0.5× | 5th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jtekt 6473.T | Japan | $3.82B | -1% | +4% | 5% | 11.4× | 1.2% | +9.1% |
| Inter Cars CAR.WA | Poland | $3.83B | +38% | +12% | 6% | 13.9× | 9.5% | +18.3% |
| Toyoda Gosei 7282.T | Japan | $3.81B | +26% | +13% | 7% | 9.8× | 0.5% | +9.7% |
| Fulin Precision 300432.SZ | China | $3.84B | -47% | +95% | 5% | 20.2× | n/a | n/a |
| ZCZL Industrial Technology 601717.SS | China | $3.80B | -19% | -1% | 8% | 6.3× | -9.8% | +9.4% |
| Garrett Motion GTX | United States | $3.72B | -31% | +7% | 15% | 9.9× | -6.9% | +3.4% |
| Bethel Automotive Safety Systems 603596.SS | China | $3.70B | -11% | +21% | 10% | 16.0× | 7.0% | +31.7% |
| Linamar LNR.TO | Canada | $3.63B | -9% | +9% | 9% | 7.1× | -8.4% | +12.0% |
| Aumovio AMV0.DE | Germany | $3.57B | -12% | -6% | -6% | n/a | 10.2% | n/a |
| Atmus Filtration Technologies ATMU | United States | $4.13B | -9% | +13% | 17% | 16.2× | 8.1% | +7.4% |
| Zhejiang Yinlun Machinery 002126.SZ | China | $3.53B | -39% | +28% | 7% | 23.0× | 14.6% | +19.9% |
| Gentex GNTX | United States | $4.19B | -15% | +8% | 19% | 9.9× | -4.7% | +8.5% |
| CIE Automotive CIE.MC | Spain | $3.46B | -11% | +4% | 14% | 8.5× | -6.7% | +6.5% |
| Koito Manufacturing 7276.T | Japan | $4.27B | -6% | +6% | 6% | 13.3× | -0.8% | +6.1% |
| Sensteed Hi-Tech 000981.SZ | China | $3.36B | -42% | -15% | -39% | n/a | n/a | n/a |
| Anhui Zhongding Sealing Parts 000887.SZ | China | $3.32B | -3% | +9% | 8% | 15.1× | 3.8% | +11.4% |
| Ningbo Joyson Electronic 600699.SS | China | $4.44B | -27% | -6% | 5% | 21.9× | -1.1% | +5.0% |
| Exide Industries EXIDEIND.NS | India | $3.20B | -2% | +13% | 8% | 21.7× | 27.5% | +11.7% |
| NHK Spring 5991.T | Japan | $3.18B | -14% | +3% | 6% | 9.8× | 5.2% | +7.4% |
| Valeo FR.PA | France | $3.00B | -15% | -2% | 4% | 7.3× | -8.2% | +4.9% |
| Suzhou Inovance Automotive 301656.SZ | China | $4.95B | -31% | +28% | 1% | 676.0× | n/a | n/a |