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Japanese maker of tunable lasers and optical test/measurement instruments used in fiber-optic networks and medical imaging (OCT).
Japanese maker of tunable lasers and optical test/measurement instruments used in fiber-optic networks and medical imaging (OCT).
Sells precision lasers and optical instruments mostly into production lines and labs at fiber-optic component makers, with swept-source lasers for OCT eye-imaging machines as a second market. Orders follow customers' research and capacity spending rather than consumer demand.
In one line: A niche optical-component and photonics-test-equipment maker.
Moat: narrow (IP / patents, process know-how). Precision tunable-laser and optical-measurement technology built over decades of photonics R&D.
Headquarters: Komaki, Aichi, Japan · Founded: 1979 · Employees: 427
Size santec (6777.T) is a Japan Information Technology company (Telecommunications Equipment) with a market value of $984M, the 740th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥13,190 on 6 Nov 2026.
Performance Over six months the shares fell 52.8%, against -25.4% for the median peer and +1.8% for the Japan market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 45.0% over the last twelve months (peer median +5.6%); the operating margin is 32.7% (peer median -2.4%).
Valuation It trades at 15.5× forward earnings against a peer median of 39.8× (5th cheapest of 12).
Price implies For today's price to make sense, revenue must grow about 24% a year for seven years (Req g). Recent delivered growth is +33%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 29.2 points above its cost of capital (19.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥34.7B | ¥31.5B | ¥24.0B | ¥18.9B | ¥15.2B |
| Revenue growth | — | +31% | +27% | +24% | — |
| Gross profit | ¥19.8B | ¥17.9B | ¥13.8B | ¥10.2B | ¥8.03B |
| EBITDA | ¥12.2B | ¥11.1B | ¥8.10B | ¥6.20B | ¥4.62B |
| Net income | ¥8.99B | ¥7.67B | ¥5.07B | ¥3.85B | ¥3.00B |
| Free cash flow | n/a | ¥6.56B | ¥4.27B | ¥2.90B | ¥2.62B |
| Capital expenditure | n/a | ¥1.57B | ¥1.74B | ¥413M | ¥568M |
| Total debt | ¥2.66B | ¥3.05B | ¥2.91B | ¥2.18B | ¥1.16B |
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 |
|---|---|---|---|---|---|---|
| santec 6777.T | $984M | -53% | +45% | 33% | 15.5× | 23.5% |
| Viavi Solutions VIAV | $7.00B | -44% | +40% | 11% | 14.0× | 32.7% |
| Yokogawa Electric 6841.T | $6.24B | -30% | +7% | 13% | 15.5× | 6.8% |
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 | 6777.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -48.3% | -7.8% | lowest of 20 |
| 6-month return | -52.8% | -25.4% | lowest of 20 |
| Distance from 52-week high | -62.0% | -46.2% | 3rd lowest of 20 |
| Revenue growth (TTM) | +45.0% | +5.6% | 2nd highest of 21 |
| Operating margin | 32.7% | -2.4% | highest of 21 |
| Forward P/E | 15.5× | 39.8× | 5th cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | 23.5% | 13.2% | 3rd most demanding of 8 |
| Growth delivered (Del g) | +33.2% | -1.0% | highest of 8 |
| Hurdle (Req g minus delivered) | -9.7 pp | +10.9 pp | 2nd least demanding of 8 |
| ROIC minus cost of capital | +29.2 pp | -7.7 pp | highest of 21 |
| EV / EBITDA | 11.7× | 14.6× | 4th cheapest of 7 |
| Net debt / EBITDA | -1.0× | -0.4× | 2nd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| santec 6777.T | Japan | $984M | -53% | +45% | 33% | 15.5× | 23.5% | +33.2% |
| Huizhou Speed Wireless Technology 300322.SZ | China | $991M | -52% | +25% | 3% | 62.4× | n/a | n/a |
| Nanjing Panda Electronics 600775.SS | China | $992M | -27% | +30% | -7% | n/a | n/a | n/a |
| Invisio IVSO.ST | Sweden | $1.00B | -15% | +24% | 18% | 39.8× | 13.2% | +26.7% |
| Sumavision Technologies 300079.SZ | China | $1.01B | -14% | -6% | -8% | n/a | n/a | n/a |
| Synspective 290A.T | Japan | $950M | -16% | +5% | -196% | 52.9× | n/a | n/a |
| Harmonic HLIT | United States | $1.04B | -26% | -21% | 15% | 11.6× | 10.0% | -1.0% |
| Flaircomm Microelectronics 301600.SZ | China | $1.04B | -35% | +19% | 9% | 32.0× | 27.2% | +29.1% |
| Tozed Kangwei Tech 301718.SZ | China | $1.05B | n/a | +43% | 5% | n/a | n/a | n/a |
| Wuhan Fingu Electronic Technology 002194.SZ | China | $914M | -19% | -9% | -2% | n/a | n/a | n/a |
| Shenzhen Infinova 002528.SZ | China | $1.06B | +23% | -29% | -77% | n/a | n/a | n/a |
| Chengdu Spaceon Electronics 002935.SZ | China | $909M | -37% | +1% | 5% | 43.5× | 49.9% | +1.3% |
| Chengdu CORPRO Technology 300101.SZ | China | $1.07B | -35% | -25% | -18% | 14.7× | n/a | n/a |
| Arcadyan Technology 3596.TW | Taiwan | $900M | -17% | +6% | 6% | 9.8× | n/a | n/a |
| HTC 2498.TW | Taiwan | $885M | -15% | -8% | -78% | n/a | n/a | n/a |
| Astroscale 186A.T | Japan | $865M | -25% | +70% | -275% | n/a | n/a | n/a |
| Shenzhen Phoenix Telecom Technology 301191.SZ | China | $854M | -42% | +30% | 0% | 47.2× | n/a | n/a |
| Anhui Tatfook Technology 300134.SZ | China | $852M | -32% | +14% | -14% | n/a | n/a | n/a |
| Hubei Jiuzhiyang Infrared System 300516.SZ | China | $1.18B | -15% | -7% | -8% | n/a | 20.4% | -1.0% |
| Adtran Networks ADV.DE | Germany | $1.21B | -10% | +15% | -3% | 113.3× | -2.7% | -3.1% |
| Vistance Networks VISN | United States | $1.27B | -35% | -38% | 12% | 8.7× | -4.6% | -25.5% |