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Maker of heavy electrical equipment including transformers, motors, power systems and water-treatment equipment.
Maker of heavy electrical equipment including transformers, motors, power systems and water-treatment equipment.
Wins orders project by project, so revenue follows utilities' and factories' spending plans and delivery schedules rather than steady repeat sales; maintenance and service on its installed equipment adds a steadier stream. It also builds vehicle test systems, such as dynamometers, used by car makers developing new models.
In one line: A Japanese Siemens Energy/ABB niche player.
Moat: narrow (process know-how, customer qualification, installed base). Long-standing utility/industrial equipment relationships and installed base in Japan's power infrastructure.
Headquarters: Tokyo, Japan · Founded: 1897 · Employees: 10,082
Size Meidensha (6508.T) is a Japan Industrials company (Electrical Products) with a market value of $1.96B, the 490th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥6,806 on 6 Nov 2026.
Performance Over six months the shares fell 19.6%, against -20.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 10th highest of 19 in its peer set.
Growth Revenue grew 11.8% over the last twelve months (peer median +4.8%); the operating margin is 9.8% (peer median 8.2%).
Valuation It trades at 11.0× forward earnings against a peer median of 22.9× (4th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.2 points above its cost of capital (9.0% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥349B | ¥326B | ¥301B | ¥288B | ¥273B |
| Revenue growth | — | +8% | +5% | +6% | — |
| Gross profit | ¥103B | ¥96.9B | ¥84.7B | ¥71.8B | ¥66.0B |
| EBITDA | ¥46.2B | ¥39.0B | ¥32.7B | ¥23.7B | ¥19.7B |
| Net income | ¥30.2B | ¥23.6B | ¥18.5B | ¥11.2B | ¥7.13B |
| Free cash flow | ¥2.77B | ¥2.26B | ¥24.9B | -¥375M | ¥1.35B |
| Capital expenditure | ¥20.7B | ¥15.2B | ¥10.5B | ¥9.34B | ¥12.4B |
| Total debt | ¥37.1B | ¥46.3B | ¥46.3B | ¥56.5B | ¥52.5B |
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 |
|---|---|---|---|---|---|---|
| Meidensha 6508.T | $1.96B | -20% | +12% | 10% | 11.0× | 5.1% |
| Fuji Electric 6504.T | $9.68B | -18% | +9% | 12% | 13.1× | 11.3% |
| Mitsubishi Electric 6503.T | $59.9B | -28% | +12% | 10% | 17.1× | 13.2% |
| Takaoka Toko 6617.T | $443M | -40% | +6% | 9% | 6.5× | 2.3% |
| Hitachi 6501.T | $130B | -7% | +14% | 12% | 20.9× | 9.5% |
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 | 6508.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -44.1% | -9.7% | 2nd lowest of 21 |
| 6-month return | -19.6% | -20.2% | 10th highest of 19 |
| Distance from 52-week high | -46.8% | -42.8% | 7th lowest of 21 |
| Revenue growth (TTM) | +11.8% | +4.8% | 8th highest of 21 |
| Operating margin | 9.8% | 8.2% | 10th highest of 21 |
| Forward P/E | 11.0× | 22.9× | 4th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 5.1% | 9.3% | 5th least demanding of 11 |
| Growth delivered (Del g) | +7.1% | +8.3% | 5th lowest of 11 |
| Hurdle (Req g minus delivered) | -2.0 pp | -1.6 pp | 6th least demanding of 11 |
| ROIC minus cost of capital | +3.2 pp | -1.9 pp | 9th highest of 20 |
| EV / EBITDA | 6.9× | 10.2× | 3rd cheapest of 8 |
| Net debt / EBITDA | 0.1× | -0.4× | 4th most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Meidensha 6508.T | Japan | $1.96B | -20% | +12% | 10% | 11.0× | 5.1% | +7.1% |
| TD Power Systems TDPOWERSYS.NS | India | $1.96B | -7% | +54% | 17% | 47.1× | 40.6% | +25.6% |
| Jiangxi Special Electric Motor 002176.SZ | China | $1.96B | -52% | -13% | -13% | n/a | 48.7% | +1.2% |
| Jinlongyu 002882.SZ | China | $1.97B | -21% | -1% | 3% | n/a | n/a | n/a |
| SMA Solar Technology S92.DE | Germany | $1.99B | -21% | +4% | -7% | 16.7× | -4.2% | +8.1% |
| Xian Sinofuse Electric 301031.SZ | China | $1.99B | -16% | +56% | 21% | 22.1× | n/a | n/a |
| Minmetals New Energy Materials (Hunan) 688779.SS | China | $2.00B | -36% | +146% | 5% | 23.8× | n/a | n/a |
| Simplo Technology 6121.TWO | Taiwan | $1.90B | -6% | +3% | 11% | 9.6× | -20.1% | -0.8% |
| Jiangsu Cnano Technology 688116.SS | China | $1.90B | -19% | +8% | 19% | 32.6× | n/a | n/a |
| Jiangsu Leili Motor 300660.SZ | China | $1.90B | -33% | +16% | 5% | 70.5× | 29.1% | +11.6% |
| Dajin Heavy Industry 1081.HK | Hong Kong | $2.03B | n/a | +2% | 19% | 10.6× | n/a | n/a |
| Hangzhou Zhongheng Electric 002364.SZ | China | $1.89B | -40% | +17% | 4% | 70.6× | n/a | n/a |
| AQ Group AB AQ.ST | Sweden | $2.04B | -5% | +11% | 9% | 24.7× | 12.4% | +13.5% |
| Zhejiang E-P Equipment 603194.SS | China | $2.04B | -3% | +17% | 13% | 14.8× | n/a | n/a |
| Titan Wind Energy (Suzhou) 002531.SZ | China | $2.05B | -37% | -1% | 5% | 29.4× | n/a | n/a |
| CETC Chips Technology 600877.SS | China | $1.87B | -36% | -2% | -3% | n/a | n/a | n/a |
| Hengdian Group Tospo Lighting 603303.SS | China | $1.86B | +44% | +5% | 1% | 70.3× | 35.6% | -0.8% |
| Ligent Technologies 9856.HK | Hong Kong | $2.07B | n/a | +33% | 12% | n/a | n/a | n/a |
| Chung-Hsin Electric & Machinery Manufacturing 1513.TW | Taiwan | $2.07B | -10% | +4% | 19% | 14.7× | -2.2% | +12.3% |
| Signify LIGHT.AS | Netherlands | $2.09B | -26% | -8% | 7% | 8.5× | -12.5% | -2.4% |
| Voltronic Power Technology 6409.TW | Taiwan | $2.10B | +1% | -13% | 20% | 21.5× | 6.2% | +8.5% |