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Japanese semiconductor maker of microcontrollers (MCUs) and analog chips, mainly for automotive and industrial electronics.
Japanese semiconductor maker of microcontrollers (MCUs) and analog chips, mainly for automotive and industrial electronics.
Sells chips that carmakers and industrial firms design into products years ahead, so revenue follows design wins and vehicle production rather than spot orders. It was formed by merging Japanese chip units of Hitachi, Mitsubishi and NEC, then widened into analog and power chips with the purchases of Intersil in 2017, IDT in 2019 and Dialog Semiconductor in 2021.
In one line: A Japanese NXP Semiconductors / Microchip Technology.
Moat: narrow (customer qualification, switching costs, installed base). Design-win based business; automotive chips require lengthy qualification, locking in supply once designed in.
Headquarters: Tokyo, Japan · Founded: 2010 · Employees: 21,629
Size Renesas Electronics (6723.T) is a Japan Information Technology company (Semiconductors) with a market value of $27.9B, the 58th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,478 on 6 Nov 2026.
Performance Over six months the shares fell 22.9%, against -20.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue grew 25.7% over the last twelve months (peer median +22.5%); the operating margin is 24.4% (peer median 16.2%).
Valuation It trades at 9.9× forward earnings against a peer median of 22.3× (3rd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.3 points below its cost of capital (13.2% WACC).
Credit Renesas Electronics has 1 bond outstanding ($850M), rated BBB by the agencies.
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.59T | ¥1.32T | ¥1.35T | ¥1.47T | ¥1.50T |
| Revenue growth | — | -2% | -8% | -2% | — |
| Gross profit | ¥827B | ¥638B | ¥621B | ¥724B | ¥743B |
| EBITDA | ¥571B | ¥422B | ¥433B | ¥554B | ¥613B |
| Net income | ¥607B | -¥51.8B | ¥219B | ¥337B | ¥257B |
| Free cash flow | ¥440B | ¥348B | ¥196B | ¥403B | ¥407B |
| Capital expenditure | ¥128B | ¥134B | ¥170B | ¥129B | ¥88.2B |
| Total debt | ¥1.13T | ¥1.23T | ¥1.42T | ¥668B | ¥770B |
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 |
|---|---|---|---|---|---|---|
| Renesas Electronics 6723.T | $27.9B | -23% | +26% | 24% | 9.9× | 12.2% |
| NXP Semiconductors NXPI | $62.6B | -15% | +15% | 30% | 14.1× | 16.3% |
| Infineon Technologies IFX.DE | $66.8B | -33% | +6% | 13% | 26.0× | 30.2% |
| STM STM | $41.0B | -29% | +16% | 7% | 17.3× | 38.6% |
| Microchip Technology MCHP | $31.7B | -41% | +21% | 16% | 14.5× | 34.2% |
| Texas Instruments TXN | $253B | -4% | +20% | 41% | 24.6× | 23.3% |
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 | 6723.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -38.0% | -22.2% | 4th lowest of 21 |
| 6-month return | -22.9% | -20.5% | 10th lowest of 20 |
| Distance from 52-week high | -53.1% | -52.7% | 10th lowest of 21 |
| Revenue growth (TTM) | +25.7% | +22.5% | 8th highest of 20 |
| Operating margin | 24.4% | 16.2% | 7th highest of 18 |
| Forward P/E | 9.9× | 22.3× | 3rd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 12.2% | 29.5% | 2nd least demanding of 13 |
| Growth delivered (Del g) | +13.0% | +6.5% | 6th highest of 13 |
| Hurdle (Req g minus delivered) | -0.8 pp | +11.6 pp | 4th least demanding of 13 |
| ROIC minus cost of capital | -5.3 pp | -0.2 pp | 8th lowest of 18 |
| EV / EBITDA | 8.6× | 18.5× | 2nd cheapest of 11 |
| Net debt / EBITDA | 0.9× | -0.5× | 3rd most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Renesas Electronics 6723.T | Japan | $27.9B | -23% | +26% | 24% | 9.9× | 12.2% | +13.0% |
| MetaX Integrated Circuits (Shanghai) 688802.SS | China | $29.5B | -35% | +84% | n/a | 469.5× | n/a | n/a |
| Hua Hong Grace Semiconductor 688347.SS | China | $25.5B | +23% | +18% | -2% | 234.7× | n/a | n/a |
| Montage Technology 688008.SS | China | $25.5B | -13% | +33% | 42% | 43.7× | 39.7% | +24.5% |
| Giga Device Semiconductor 603986.SS | China | $25.3B | -23% | +166% | 50% | 10.9× | 16.5% | +15.4% |
| Global Unichip 3443.TW | Taiwan | $25.1B | +29% | +104% | 13% | 50.1× | n/a | n/a |
| Moore Threads Technology 688795.SS | China | $25.1B | -53% | +226% | -9% | n/a | n/a | n/a |
| ON Semiconductor ON | United States | $24.6B | -39% | +3% | 19% | 14.3× | 20.0% | +2.7% |
| Microchip Technology MCHP | United States | $31.7B | -41% | +21% | 16% | 14.5× | 34.2% | -2.8% |
| Shanghai Enflame Technology 688801.SS | China | $23.8B | n/a | n/a | n/a | n/a | n/a | n/a |
| Astera Labs ALAB | United States | $33.1B | -5% | +115% | 26% | 28.0× | n/a | n/a |
| SJ Semiconductor 688820.SS | China | $22.9B | -21% | +1% | n/a | 136.4× | n/a | n/a |
| United Micro Electronics 2303.TW | Taiwan | $34.9B | +11% | +13% | 21% | 13.7× | 14.2% | +6.1% |
| Nanya Technology 2408.TW | Taiwan | $35.8B | +34% | +586% | 71% | 2.9× | 0.6% | +1.8% |
| Piotech 688072.SS | China | $21.7B | +23% | +24% | 14% | 55.5× | 43.5% | +71.7% |
| First Solar FSLR | United States | $21.6B | -9% | -1% | 39% | 9.2× | 12.4% | +14.0% |
| GlobalFoundries GFS | United States | $21.2B | -48% | +1% | 12% | 16.2× | 24.9% | +7.0% |
| STMicroelectronics STMPA.PA | France | $37.7B | -32% | +10% | 7% | 31.4× | 34.0% | +3.1% |
| Coherent COHR | United States | $38.0B | -42% | +23% | 14% | 16.6× | n/a | n/a |
| Suzhou TFC Optical Communication 300394.SZ | China | $19.9B | -44% | +26% | 51% | 36.3× | 44.8% | +42.7% |
| Skyworks Solutions SWKS | United States | $19.3B | +24% | -3% | 9% | 14.3× | 39.4% | -5.0% |
Renesas Electronics has 1 bond outstanding with $850M face value. The agencies rate it BBB.