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Makes inkjet printers, projectors and robots, spun from the Seiko watch-making group.
Makes inkjet printers, projectors and robots, spun from the Seiko watch-making group.
Sells printers at modest margins and earns more over time from the ink and other consumables its installed base keeps buying, with refillable-tank models that shift the sale from cartridges to bottled ink. Printing is the bulk of the business; projectors, robots, factory equipment and watch components are smaller. It is pushing heat-free inkjet for offices to displace laser machines.
In one line: HP Inc for printers plus a projector business.
Moat: narrow (brand, IP / patents). Proprietary inkjet head and projector technology differentiate from mainstream printer rivals.
Headquarters: Suwa, Japan · Founded: 1942 · Employees: 74,619
Size Seiko Epson (6724.T) is a Japan Information Technology company (Computer Peripherals) with a market value of $5.39B, the 228th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,657 on 6 Nov 2026.
Performance Over six months the shares gained 26.7%, against -9.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 8.3% over the last twelve months (peer median +12.7%); the operating margin is 5.9% (peer median 11.2%).
Valuation It trades at 11.9× forward earnings against a peer median of 15.1× (8th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.3 points below its cost of capital (8.6% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.46T | ¥1.41T | ¥1.36T | ¥1.31T | ¥1.33T |
| Revenue growth | — | +4% | +4% | -1% | — |
| Gross profit | ¥512B | ¥475B | ¥473B | ¥439B | ¥451B |
| EBITDA | ¥164B | ¥161B | ¥162B | ¥133B | ¥164B |
| Net income | ¥24.6B | ¥18.2B | ¥55.2B | ¥52.6B | ¥75.0B |
| Free cash flow | ¥78.1B | ¥57.8B | ¥78.7B | ¥116B | ¥10.8B |
| Capital expenditure | ¥59.1B | ¥60.8B | ¥70.3B | ¥56.6B | ¥59.1B |
| Total debt | ¥270B | ¥231B | ¥225B | ¥205B | ¥233B |
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 |
|---|---|---|---|---|---|---|
| Seiko Epson 6724.T | $5.39B | +27% | +8% | 6% | 11.9× | 0.8% |
| Brother Industries 6448.T | $6.52B | +39% | +7% | 13% | 10.5× | -6.3% |
| HP Inc. HPQ | $25.7B | +27% | +9% | 7% | 9.5× | -7.0% |
| Canon 7751.T | $28.4B | +18% | +4% | 10% | 12.2× | -0.6% |
| Ricoh 7752.T | $6.06B | +28% | +5% | 3% | 13.6× | -1.0% |
| Konica Minolta 4902.T | $1.79B | +14% | 0% | 5% | 9.7× | -5.6% |
| 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 | 6724.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.1% | -13.4% | 7th lowest of 21 |
| 6-month return | +26.7% | -9.1% | 4th highest of 21 |
| Distance from 52-week high | -23.6% | -39.4% | 5th highest of 21 |
| Revenue growth (TTM) | +8.3% | +12.7% | 9th lowest of 21 |
| Operating margin | 5.9% | 11.2% | 8th lowest of 21 |
| Forward P/E | 11.9× | 15.1× | 8th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 0.8% | 17.4% | 3rd least demanding of 7 |
| Growth delivered (Del g) | +7.2% | +10.5% | 4th highest of 7 |
| Hurdle (Req g minus delivered) | -6.5 pp | +9.6 pp | 3rd least demanding of 7 |
| ROIC minus cost of capital | -1.3 pp | +8.4 pp | 6th lowest of 21 |
| EV / EBITDA | 4.9× | 8.2× | 5th cheapest of 11 |
| Net debt / EBITDA | -0.3× | -0.1× | 5th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Seiko Epson 6724.T | Japan | $5.39B | +27% | +8% | 6% | 11.9× | 0.8% | +7.2% |
| E Ink 8069.TWO | Taiwan | $4.98B | +2% | -3% | 29% | 12.4× | -0.3% | +18.6% |
| Gigabyte Technology 2376.TW | Taiwan | $6.01B | +7% | +38% | 5% | 8.1× | n/a | n/a |
| AUO 2409.TW | Taiwan | $6.02B | +49% | -1% | -2% | n/a | n/a | n/a |
| Shenzhen Kaifa Technology 000021.SZ | China | $6.13B | -11% | +14% | 11% | 29.2× | n/a | n/a |
| Brother Industries 6448.T | Japan | $6.52B | +39% | +7% | 13% | 10.5× | -6.3% | +7.2% |
| Everdisplay Optronics (Shanghai) 688538.SS | China | $6.72B | -9% | -2% | -31% | n/a | n/a | n/a |
| Sichuan Changhong Electric 600839.SS | China | $3.55B | -41% | +4% | 0% | n/a | n/a | n/a |
| Hangzhou EZVIZ Network 688475.SS | China | $3.53B | -4% | +8% | 12% | 30.1× | 15.7% | +13.8% |
| Micro-Star International 2377.TW | Taiwan | $3.50B | +43% | +1% | 5% | 11.6× | n/a | n/a |
| Hubei Dinglong 300054.SZ | China | $8.79B | -2% | +7% | 30% | 51.4× | 32.2% | +15.0% |
| Biwin Storage Technology 688525.SS | China | $8.99B | -52% | +221% | 41% | 5.0× | n/a | n/a |
| Transcend Information 2451.TW | Taiwan | $3.22B | -13% | +286% | 67% | 3.2× | n/a | n/a |
| ADATA Technology 3260.TWO | Taiwan | $3.16B | -33% | +125% | 34% | 4.5× | n/a | n/a |
| Extreme Networks EXTR | United States | $3.15B | 0% | +11% | 6% | 17.2× | 27.3% | +4.9% |
| AURAS Technology 3324.TWO | Taiwan | $2.90B | -10% | +71% | 16% | 15.1× | n/a | n/a |
| Unisplendour 000938.SZ | China | $10.4B | -24% | +25% | 3% | 21.8× | n/a | n/a |
| Innodisk 5289.TWO | Taiwan | $2.76B | -35% | +334% | 49% | 2.5× | n/a | n/a |
| VusionGroup VU.PA | France | $2.61B | +11% | +45% | 10% | 16.5× | n/a | n/a |
| Venustech 002439.SZ | China | $2.58B | -9% | 0% | -16% | 169.0× | 19.0% | -8.6% |
| Newland Digital Technology 000997.SZ | China | $2.56B | -14% | +29% | 11% | 16.0× | n/a | n/a |