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World-leading maker of marine electronics — radar, GPS, fish finders and sonar — for commercial ships and fishing vessels.
World-leading maker of marine electronics — radar, GPS, fish finders and sonar — for commercial ships and fishing vessels.
Sells equipment two ways: fitted to new ships through shipyards, and as replacements or upgrades on vessels already at sea, supported by dealers and service staff. Most sales are outside Japan. Fishing fleets and merchant shipping buy on different cycles, so the mix of buyers shapes each year.
In one line: The Garmin of marine navigation and fish-finding equipment.
Moat: wide (brand, installed base, IP / patents). Pioneer and long-time global leader in marine radar/fish-finding, with dense dealer and service networks.
Headquarters: Nishinomiya, Japan · Founded: 1948 · Employees: 3,411
Size Furuno Electric (6814.T) is a Japan Information Technology company (Telecommunications Equipment) with a market value of $1.42B, the 592nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥7,090 on 6 Nov 2026.
Performance Over six months the shares fell 1.1%, against -24.5% for the median peer and +1.8% for the Japan market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue grew 14.4% over the last twelve months (peer median +13.9%); the operating margin is 13.0% (peer median 1.9%).
Valuation It trades at 13.0× forward earnings against a peer median of 18.9× (4th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.3 points above its cost of capital (11.5% WACC).
Next results Next results expected around 8 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥152B | ¥141B | ¥127B | ¥115B | ¥91.3B |
| Revenue growth | — | +11% | +11% | +26% | — |
| Gross profit | ¥64.7B | ¥56.8B | ¥51.4B | ¥41.2B | ¥33.1B |
| EBITDA | ¥24.3B | ¥20.4B | ¥16.9B | ¥10.1B | ¥4.70B |
| Net income | ¥16.5B | ¥16.7B | ¥11.5B | ¥6.24B | ¥1.35B |
| Free cash flow | n/a | ¥19.0B | ¥8.30B | ¥1.03B | -¥8.11B |
| Capital expenditure | n/a | ¥4.86B | ¥4.84B | ¥3.35B | ¥2.58B |
| Total debt | ¥14.2B | ¥14.9B | ¥20.5B | ¥19.0B | ¥20.6B |
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 |
|---|---|---|---|---|---|---|
| Furuno Electric 6814.T | $1.42B | -1% | +14% | 13% | 13.0× | 7.4% |
| Garmin GRMN | $55.0B | +19% | +14% | 29% | 25.7× | 13.7% |
| Teledyne Technologies TDY | $28.5B | 0% | +8% | 20% | 22.9× | 15.5% |
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 | 6814.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.8% | -6.0% | 7th lowest of 21 |
| 6-month return | -1.1% | -24.5% | highest of 20 |
| Distance from 52-week high | -29.2% | -47.6% | 4th highest of 21 |
| Revenue growth (TTM) | +14.4% | +13.9% | 10th highest of 21 |
| Operating margin | 13.0% | 1.9% | 4th highest of 21 |
| Forward P/E | 13.0× | 18.9× | 4th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 7.4% | 11.3% | 5th least demanding of 10 |
| Growth delivered (Del g) | +11.3% | +8.2% | 5th highest of 10 |
| Hurdle (Req g minus delivered) | -3.9 pp | +10.0 pp | 3rd least demanding of 10 |
| ROIC minus cost of capital | +4.3 pp | -3.9 pp | 6th highest of 21 |
| EV / EBITDA | 8.7× | 14.4× | 3rd cheapest of 7 |
| Net debt / EBITDA | -0.5× | -0.1× | 4th least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Furuno Electric 6814.T | Japan | $1.42B | -1% | +14% | 13% | 13.0× | 7.4% | +11.3% |
| Shenzhen Gongjin Electronics 603118.SS | China | $1.42B | -18% | +21% | 2% | n/a | n/a | n/a |
| Hanwha Vision 489790.KS | South Korea | $1.41B | -56% | +20% | 11% | 10.4× | n/a | n/a |
| Tianjin 712 Communication & Broadcasting 603712.SS | China | $1.41B | -25% | +27% | -17% | 31.1× | n/a | n/a |
| CITIC Guoan Information Industry 000839.SZ | China | $1.45B | -17% | +14% | 7% | n/a | 11.3% | +7.0% |
| Hwa Create 300045.SZ | China | $1.35B | -39% | -7% | -20% | n/a | n/a | n/a |
| Zhejiang Chengchang Technology 001270.SZ | China | $1.34B | -37% | -1% | 27% | 100.9× | 44.0% | +18.3% |
| Arlo Technologies ARLO | United States | $1.33B | -19% | +16% | 3% | 13.8× | 32.6% | +8.2% |
| Noritsu Koki 7744.T | Japan | $1.31B | -7% | +33% | 20% | 9.9× | -6.9% | +16.8% |
| Vistance Networks VISN | United States | $1.27B | -35% | -38% | 12% | 8.7× | -4.6% | -25.5% |
| Shenzhen SDMC Technology 0901.HK | Hong Kong | $1.61B | n/a | +33% | 10% | n/a | n/a | n/a |
| FS.COM 3355.HK | Hong Kong | $1.63B | -27% | +14% | 23% | n/a | -11.0% | +19.4% |
| Adtran Networks ADV.DE | Germany | $1.21B | -10% | +15% | -3% | 113.3× | -2.7% | -3.1% |
| Hubei Jiuzhiyang Infrared System 300516.SZ | China | $1.18B | -15% | -7% | -8% | n/a | 20.4% | -1.0% |
| Eastern Communications 600776.SS | China | $1.72B | -33% | +7% | -5% | n/a | n/a | n/a |
| Beijing Tricolor Technology 603516.SS | China | $1.72B | -60% | -11% | -20% | 57.4× | n/a | n/a |
| Wuhan Yangtze Communication Industry 600345.SS | China | $1.85B | -23% | +13% | -8% | n/a | n/a | n/a |
| Skyworth Digital 000810.SZ | China | $1.85B | -15% | +28% | 1% | 23.0× | n/a | n/a |
| Chengdu CORPRO Technology 300101.SZ | China | $1.07B | -35% | -25% | -18% | 14.7× | n/a | n/a |
| Fibocom Wireless 300638.SZ | China | $1.88B | -10% | +3% | 2% | 62.9× | n/a | n/a |
| Calix CALX | United States | $1.89B | -29% | +23% | 5% | 13.9× | 23.1% | +13.1% |