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Diversified electrical-equipment maker: factory automation, power systems, elevators, and automotive electronics.
Diversified electrical-equipment maker: factory automation, power systems, elevators, and automotive electronics.
Sells factory-automation controllers, power and grid equipment on long project orders, and elevators, whose maintenance contracts bring in steady fees over decades. Factory automation and building systems are the main profit sources, and defense and space contracts with the Japanese government add a smaller piece.
In one line: A Japanese Siemens/ABB hybrid.
Moat: narrow (scale, installed base, process know-how). Strong installed base in FA and elevators domestically, but faces global rivals like Siemens and ABB.
Headquarters: Tokyo, Japan · Founded: 1921 · Employees: 150,386
Size Mitsubishi Electric (6503.T) is a Japan Industrials company (Electrical Products) with a market value of $59.9B, the 27th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,497 on 6 Nov 2026.
Performance Over six months the shares fell 27.8%, against -21.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 12.1% over the last twelve months (peer median +15.2%); the operating margin is 10.2% (peer median 13.5%).
Valuation It trades at 17.1× forward earnings against a peer median of 21.7× (4th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.1 points below its cost of capital (11.4% WACC).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥6.29T | ¥5.89T | ¥5.52T | ¥5.26T | ¥5.00T |
| Revenue growth | — | +7% | +5% | +5% | — |
| Gross profit | ¥2.28T | ¥2.13T | ¥1.92T | ¥1.77T | ¥1.62T |
| EBITDA | ¥872B | ¥735B | ¥598B | ¥509B | ¥473B |
| Net income | ¥515B | ¥408B | ¥324B | ¥285B | ¥214B |
| Free cash flow | ¥502B | ¥380B | ¥262B | ¥240B | ¥15.6B |
| Capital expenditure | ¥312B | ¥242B | ¥226B | ¥209B | ¥176B |
| Total debt | ¥339B | ¥363B | ¥361B | ¥395B | ¥401B |
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 |
|---|---|---|---|---|---|---|
| Mitsubishi Electric 6503.T | $59.9B | -28% | +12% | 10% | 17.1× | 13.2% |
| Siemens SIE.DE | $225B | -4% | +4% | 13% | 23.4× | 18.3% |
| ABB ABBN.SW | $147B | -17% | +1% | 18% | 24.5× | 4.3% |
| Schneider Electric SU.PA | $151B | -16% | +7% | 18% | 22.2× | 18.0% |
| Fanuc 6954.T | $31.2B | -23% | +13% | 23% | 22.0× | 16.9% |
| Yaskawa Electric 6506.T | $5.71B | -38% | +6% | 8% | 19.7× | 24.8% |
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 | 6503.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.6% | -14.3% | 10th lowest of 21 |
| 6-month return | -27.8% | -21.5% | 9th lowest of 21 |
| Distance from 52-week high | -32.7% | -35.3% | 10th highest of 21 |
| Revenue growth (TTM) | +12.1% | +15.2% | 9th lowest of 21 |
| Operating margin | 10.2% | 13.5% | 9th lowest of 21 |
| Forward P/E | 17.1× | 21.7× | 4th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 13.2% | 15.7% | 9th least demanding of 18 |
| Growth delivered (Del g) | +7.1% | +10.3% | 5th lowest of 18 |
| Hurdle (Req g minus delivered) | +6.1 pp | +4.0 pp | 9th most demanding of 18 |
| ROIC minus cost of capital | -1.1 pp | +4.5 pp | 3rd lowest of 20 |
| EV / EBITDA | 10.3× | 17.6× | cheapest of 13 |
| Net debt / EBITDA | -0.7× | 0.7× | 4th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mitsubishi Electric 6503.T | Japan | $59.9B | -28% | +12% | 10% | 17.1× | 13.2% | +7.1% |
| LG Energy Solution 373220.KS | South Korea | $58.2B | -27% | +25% | 1% | n/a | n/a | n/a |
| Mitsubishi Heavy Industries 7011.T | Japan | $62.1B | -37% | -3% | 10% | 22.3× | 9.0% | +6.1% |
| Ametek AME | United States | $52.4B | -1% | +14% | 27% | 24.8× | 18.5% | +10.3% |
| Rockwell Automation ROK | United States | $41.7B | -17% | +11% | 14% | 25.0× | 27.2% | +5.7% |
| BYD 002594.SZ | China | $96.6B | -17% | -4% | 4% | 21.2× | n/a | n/a |
| Prysmian PRY.MI | Italy | $33.9B | -35% | +17% | 8% | 20.2× | 13.1% | +14.4% |
| Fujikura 5803.T | Japan | $33.0B | -50% | +28% | 19% | 14.3× | 28.9% | +12.9% |
| Siemens Energy ENR.DE | Germany | $111B | -33% | +9% | 9% | 26.4× | 17.3% | +7.3% |
| Vestas Wind Systems A/S VWS.CO | Denmark | $31.0B | +8% | +10% | 7% | 21.3× | 0.5% | +4.9% |
| NARI Technology 600406.SS | China | $28.6B | -8% | +12% | 13% | 21.7× | 2.5% | +11.4% |
| Eaton ETN | United States | $133B | -15% | +20% | 19% | 21.4× | 19.1% | +9.0% |
| Samsung Sdi 006400.KS | South Korea | $26.8B | -33% | +21% | 0% | 45.9× | n/a | n/a |
| Shengyi Technology 600183.SS | China | $25.7B | -8% | +56% | 22% | 20.3× | 20.5% | +14.1% |
| Sungrow Power Supply 300274.SZ | China | $25.3B | -40% | -24% | 12% | 14.9× | 12.1% | +35.8% |
| ABB ABBN.SW | Switzerland | $147B | -17% | +1% | 18% | 24.5× | 4.3% | +2.3% |
| Schneider Electric SU.PA | France | $151B | -16% | +7% | 18% | 22.2× | 18.0% | +9.8% |
| Hubbell HUBB | United States | $22.7B | -13% | +16% | 21% | 19.1× | 10.5% | +9.7% |
| Contemporary Amperex Technology 300750.SZ | China | $179B | -42% | +51% | 14% | 13.0× | 1.6% | +53.1% |
| Yangtze Optical Fibre & Cable Joint Stock 601869.SS | China | $19.8B | -32% | +68% | 34% | 23.8× | 15.7% | +11.6% |
| GE Vernova GEV | United States | $205B | -26% | +17% | 7% | 32.2× | 24.9% | +16.8% |