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Independent elevator and escalator maintenance company in Japan, competing against elevator makers' own captive service arms.
Independent elevator and escalator maintenance company in Japan, competing against elevator makers' own captive service arms.
Charges a recurring monthly fee to keep elevators running, then sells repair and modernisation work on top of the contract. Owners can choose between the original maker and an independent firm, and winning those contracts is how it grows.
In one line: Japan's answer to an independent elevator servicer competing with OEM-captive maintenance.
Moat: narrow (cost advantage, installed base). Lower-cost independent maintenance model winning contracts away from OEM captive service.
Headquarters: Tokyo, Japan · Employees: 2,286
Size Japan Elevator Service (6544.T) is a Japan Industrials company (Engineering & Construction) with a market value of $1.65B, the 541st largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,452 on 6 Nov 2026.
Performance Over six months the shares fell 8.9%, against -0.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 16.9% over the last twelve months (peer median -2.0%); the operating margin is 19.3% (peer median 4.3%).
Valuation It trades at 29.3× forward earnings against a peer median of 17.6× (4th most expensive of 17).
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 +19%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 26.7 points above its cost of capital (5.3% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥59.9B | ¥57.6B | ¥49.4B | ¥42.2B | ¥34.9B |
| Revenue growth | — | +17% | +17% | +21% | — |
| Gross profit | ¥23.1B | ¥22.7B | ¥19.2B | ¥16.3B | ¥13.6B |
| EBITDA | ¥13.5B | ¥12.9B | ¥10.4B | ¥8.48B | ¥6.47B |
| Net income | ¥7.63B | ¥7.32B | ¥5.53B | ¥4.52B | ¥3.15B |
| Free cash flow | n/a | ¥7.65B | ¥4.63B | ¥3.32B | ¥1.60B |
| Capital expenditure | n/a | ¥1.99B | ¥1.59B | ¥2.63B | ¥3.51B |
| Total debt | ¥5.94B | ¥2.98B | ¥5.00B | ¥6.71B | ¥7.73B |
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 |
|---|---|---|---|---|---|---|
| Japan Elevator Service 6544.T | $1.65B | -9% | +17% | 19% | 29.3× | 4.0% |
| Mitsubishi Electric 6503.T | $59.9B | -28% | +12% | 10% | 17.1× | 13.2% |
| Otis Worldwide OTIS | $30.1B | +6% | +6% | 15% | 18.1× | 2.3% |
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 | 6544.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.2% | -0.8% | 9th lowest of 21 |
| 6-month return | -8.9% | -0.2% | 9th lowest of 21 |
| Distance from 52-week high | -26.9% | -25.6% | 9th lowest of 21 |
| Revenue growth (TTM) | +16.9% | -2.0% | 4th highest of 21 |
| Operating margin | 19.3% | 4.3% | 3rd highest of 21 |
| Forward P/E | 29.3× | 17.6× | 4th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 4.0% | -1.4% | 7th most demanding of 15 |
| Growth delivered (Del g) | +18.6% | +4.4% | 3rd highest of 15 |
| Hurdle (Req g minus delivered) | -14.6 pp | -6.3 pp | 4th least demanding of 15 |
| ROIC minus cost of capital | +26.7 pp | +1.0 pp | 3rd highest of 21 |
| EV / EBITDA | 19.4× | 10.9× | 2nd most expensive of 11 |
| Net debt / EBITDA | 0.1× | 0.5× | 6th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Japan Elevator Service 6544.T | Japan | $1.65B | -9% | +17% | 19% | 29.3× | 4.0% | +18.6% |
| Shandong Hi-speed Road&bridge 000498.SZ | China | $1.65B | +20% | -9% | 7% | 4.9× | n/a | n/a |
| China Aluminum International Engineering 601068.SS | China | $1.68B | -34% | -10% | 4% | 41.2× | 10.9% | +0.1% |
| Implenia IMPN.SW | Switzerland | $1.61B | +12% | -8% | 2% | 15.0× | 6.0% | -2.7% |
| Envision Greenwise 1783.HK | Hong Kong | $1.68B | +38% | +183% | 3% | n/a | n/a | n/a |
| MIRAIT ONE 1417.T | Japan | $1.60B | -24% | +5% | 6% | 10.4× | -5.7% | +5.4% |
| NCC NCC-A.ST | Sweden | $1.69B | -3% | -17% | 3% | 22.2× | -1.6% | +0.7% |
| Chudenko 1941.T | Japan | $1.71B | +3% | +9% | 12% | 11.0× | -8.6% | +4.3% |
| Burkhalter BRKN.SW | Switzerland | $1.71B | -27% | -2% | 6% | 21.5× | -1.3% | +19.0% |
| SHO BOND 1414.T | Japan | $1.71B | -6% | -2% | 23% | 16.3× | -7.5% | +2.2% |
| China CAMC Engineering 002051.SZ | China | $1.58B | -15% | +14% | 5% | 40.3× | n/a | n/a |
| Zhejiang Youpon Integrated Ceiling 002718.SZ | China | $1.58B | +12% | -18% | -5% | n/a | n/a | n/a |
| Tasmea TEA.AX | Australia | $1.73B | +49% | +136% | 8% | 18.9× | 4.6% | +59.3% |
| Suzhou Gold Mantis Construction and Decoration 002081.SZ | China | $1.74B | -25% | -8% | 3% | 29.6× | 12.2% | -11.1% |
| Engineers India ENGINERSIN.NS | India | $1.74B | +12% | +6% | 20% | 25.2× | 29.6% | +4.6% |
| Kier KIE.L | United Kingdom | $1.75B | +53% | +7% | 3% | 12.7× | -6.3% | +5.9% |
| Dl E&c 375500.KS | South Korea | $1.53B | -48% | -17% | 4% | 5.2× | -8.3% | -5.3% |
| Guangdong Construction Engineering 002060.SZ | China | $1.79B | -15% | -11% | 3% | 8.0× | n/a | n/a |
| Badger Infrastructure Solutions BDGI.TO | Canada | $1.80B | -10% | +16% | 8% | 19.2× | 21.0% | +15.8% |
| Ruentex Engineering & Construction 2597.TW | Taiwan | $1.50B | +5% | +20% | 14% | n/a | -5.0% | +16.8% |
| China Next-Gen Commerce and Supply Chain 3928.HK | Hong Kong | $1.81B | +47% | -26% | -17% | n/a | n/a | n/a |