Loading…
IT services and systems integrator selling servers, software and consulting mainly to Japanese enterprises and government.
IT services and systems integrator selling servers, software and consulting mainly to Japanese enterprises and government.
Earns from multi-year contracts to build, run and maintain IT systems, so recurring maintenance and outsourcing carry the business and Japanese ministries, banks and utilities are anchor customers. Over the past decade it sold or spun out its phone, PC and chip-substrate units to concentrate on services and consulting.
In one line: Japan's IBM.
Moat: narrow (installed base, switching costs, customer qualification). Long-standing systems integrator for Japanese government/finance where legacy switching costs are high.
Headquarters: Tokyo, Japan · Founded: 1935 · Employees: 99,203
Size Fujitsu (6702.T) is a Japan Information Technology company (Information Technology Services) with a market value of $35.4B, the 45th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,218 on 6 Nov 2026.
Performance Over six months the shares gained 1.2%, against +26.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 4.2% over the last twelve months (peer median +11.8%); the operating margin is 9.7% (peer median 15.1%).
Valuation It trades at 18.0× forward earnings against a peer median of 18.1× (11th cheapest of 21).
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 0%, so the hurdle is +5 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 7.0 points above its cost of capital (6.4% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥3.56T | ¥3.50T | ¥3.55T | ¥3.48T | ¥3.71T |
| Revenue growth | — | -1% | +2% | -6% | — |
| Gross profit | ¥1.37T | ¥1.25T | ¥1.17T | ¥1.12T | ¥1.14T |
| EBITDA | ¥495B | ¥501B | ¥442B | ¥429B | ¥470B |
| Net income | ¥270B | ¥449B | ¥220B | ¥254B | ¥215B |
| Free cash flow | ¥173B | ¥229B | ¥143B | ¥113B | ¥52.2B |
| Capital expenditure | ¥127B | ¥109B | ¥161B | ¥196B | ¥168B |
| Total debt | ¥127B | ¥133B | ¥247B | ¥246B | ¥211B |
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 |
|---|---|---|---|---|---|---|
| Fujitsu 6702.T | $35.4B | +1% | +4% | 10% | 18.0× | 4.1% |
| Nec 6701.T | $36.3B | +5% | +7% | 12% | 18.6× | 5.5% |
| Hitachi 6501.T | $130B | -7% | +14% | 12% | 20.9× | 9.5% |
| IBM IBM | $232B | +6% | +7% | 21% | 18.8× | 7.6% |
| Accenture ACN | $154B | +44% | +6% | 15% | 17.8× | 3.7% |
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 | 6702.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.6% | +10.0% | 3rd lowest of 21 |
| 6-month return | +1.2% | +26.5% | 4th lowest of 21 |
| Distance from 52-week high | -30.5% | -20.3% | 5th lowest of 21 |
| Revenue growth (TTM) | +4.2% | +11.8% | lowest of 21 |
| Operating margin | 9.7% | 15.1% | 5th lowest of 21 |
| Forward P/E | 18.0× | 18.1× | 11th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 4.1% | 7.3% | 7th least demanding of 20 |
| Growth delivered (Del g) | -0.5% | +9.6% | lowest of 20 |
| Hurdle (Req g minus delivered) | +4.6 pp | -1.4 pp | 5th most demanding of 20 |
| ROIC minus cost of capital | +7.0 pp | +6.1 pp | 9th highest of 19 |
| EV / EBITDA | 10.7× | 15.2× | 7th cheapest of 17 |
| Net debt / EBITDA | -0.6× | 0.2× | 7th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fujitsu 6702.T | Japan | $35.4B | +1% | +4% | 10% | 18.0× | 4.1% | -0.5% |
| Nec 6701.T | Japan | $36.3B | +5% | +7% | 12% | 18.6× | 5.5% | +3.7% |
| HCL Technologies HCLTECH.NS | India | $41.4B | +22% | +13% | 18% | 19.5× | 11.8% | +11.5% |
| Cognizant CTSH | United States | $28.9B | +26% | +5% | -1% | 10.5× | 0.8% | +4.9% |
| Workday WDAY | United States | $46.5B | +51% | +14% | 13% | 16.0× | 19.7% | +17.3% |
| HP Inc. HPQ | United States | $25.7B | +27% | +9% | 7% | 9.5× | -7.0% | -0.4% |
| Infosys INFY.NS | India | $50.7B | +2% | +6% | 21% | 15.5× | 6.6% | +12.2% |
| Capgemini CAP.PA | France | $24.1B | +31% | +6% | 11% | 10.4× | -0.1% | +7.2% |
| Credo Technology CRDO | United States | $22.7B | -36% | +165% | 32% | 16.5× | 47.4% | +86.8% |
| Rubrik RBRK | United States | $21.9B | +70% | +42% | -18% | 215.0× | 36.2% | +27.7% |
| Wipro WIPRO.NS | India | $20.7B | 0% | +8% | 16% | 14.9× | 9.0% | +8.4% |
| Nomura Research Institute 4307.T | Japan | $20.2B | +40% | +8% | 19% | 26.4× | 0.7% | +8.2% |
| CDW CDW | United States | $19.6B | +51% | +11% | 7% | 12.9× | 2.6% | +4.0% |
| Tech Mahindra TECHM.NS | India | $19.0B | +26% | +14% | 14% | 23.9× | 20.3% | +8.5% |
| Hygon Information Technology 688041.SS | China | $66.0B | -36% | +59% | 19% | 100.6× | n/a | n/a |
| CGI GIB-A.TO | Canada | $17.2B | +27% | +6% | 17% | 12.2× | -12.0% | +5.5% |
| OBIC 4684.T | Japan | $16.6B | +46% | +13% | 67% | 30.3× | 4.6% | +10.0% |
| Fortinet FTNT | United States | $87.3B | +4% | +20% | 33% | 31.6× | 22.4% | +21.3% |
| CACI International CACI | United States | $13.6B | +27% | +10% | 10% | 17.6× | 7.3% | +9.6% |
| Bentley Systems BSY | United States | $13.5B | +36% | +13% | 24% | 31.4× | 22.8% | +13.4% |
| Guidewire Software GWRE | United States | $13.3B | +17% | +23% | 10% | 38.5× | 39.4% | +14.7% |