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Maker of building automation controls and industrial process instrumentation, formerly known as Yamatake.
Maker of building automation controls and industrial process instrumentation, formerly known as Yamatake.
Sells control systems for commercial buildings and factories, then keeps earning through service contracts, upgrades and replacement parts on systems already installed, which steadies a business whose equipment sales follow construction and plant-investment cycles. Japan provides most sales, with Asia the main overseas market.
In one line: Japan's Honeywell Building Technologies, at smaller scale.
Moat: narrow (installed base, switching costs, brand). Long-lived installed base in buildings/plants makes retrofitting to a rival costly.
Headquarters: Tokyo, Japan · Founded: 1906 · Employees: 9,170
Size Azbil (6845.T) is a Japan Industrials company (Electronic Equipment/Instruments) with a market value of $4.63B, the 258th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,367 on 6 Nov 2026.
Performance Over six months the shares fell 1.9%, against -15.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 5th highest of 14 in its peer set.
Growth Revenue grew 1.2% over the last twelve months (peer median +8.1%); the operating margin is 15.1% (peer median 15.0%).
Valuation It trades at 18.7× forward earnings against a peer median of 20.9× (5th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +2 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 11.0 points above its cost of capital (7.6% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥301B | ¥299B | ¥300B | ¥291B | ¥278B |
| Revenue growth | — | 0% | +3% | +5% | — |
| Gross profit | ¥139B | ¥140B | ¥132B | ¥123B | ¥112B |
| EBITDA | ¥53.6B | ¥54.4B | ¥48.2B | ¥42.9B | ¥36.1B |
| Net income | ¥38.5B | ¥38.6B | ¥41.0B | ¥30.2B | ¥22.6B |
| Free cash flow | n/a | ¥32.4B | ¥37.4B | ¥21.2B | ¥5.57B |
| Capital expenditure | n/a | ¥7.86B | ¥9.52B | ¥7.69B | ¥9.18B |
| Total debt | ¥20.7B | ¥11.3B | ¥7.00B | ¥12.2B | ¥15.3B |
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 |
|---|---|---|---|---|---|---|
| Azbil 6845.T | $4.63B | -2% | +1% | 15% | 18.7× | 5.5% |
| Honeywell Technologies HON | $69.8B | -1% | -17% | 18% | 23.2× | 4.1% |
| Johnson Controls JCI | $81.8B | -3% | +9% | 16% | 21.3× | 17.8% |
| Yokogawa Electric 6841.T | $6.24B | -30% | +7% | 13% | 15.5× | 6.8% |
| Emerson Electric EMR | $90.6B | +15% | +5% | 21% | 22.3× | 19.9% |
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 | 6845.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.9% | -9.8% | 6th highest of 14 |
| 6-month return | -1.9% | -15.1% | 5th highest of 14 |
| Distance from 52-week high | -22.3% | -28.3% | 3rd highest of 14 |
| Revenue growth (TTM) | +1.2% | +8.1% | 3rd lowest of 14 |
| Operating margin | 15.1% | 15.0% | 7th highest of 14 |
| Forward P/E | 18.7× | 20.9× | 5th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 5.5% | 15.2% | 3rd least demanding of 12 |
| Growth delivered (Del g) | +3.9% | +7.7% | 3rd lowest of 12 |
| Hurdle (Req g minus delivered) | +1.6 pp | +3.8 pp | 6th least demanding of 12 |
| ROIC minus cost of capital | +11.0 pp | +2.4 pp | 3rd highest of 14 |
| EV / EBITDA | 12.3× | 18.0× | 3rd cheapest of 12 |
| Net debt / EBITDA | -1.3× | -0.2× | 4th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Azbil 6845.T | Japan | $4.63B | -2% | +1% | 15% | 18.7× | 5.5% | +3.9% |
| Sensata Technologies ST | United States | $5.72B | -13% | +4% | 16% | 9.9× | 5.2% | +4.1% |
| Yokogawa Electric 6841.T | Japan | $6.24B | -30% | +7% | 13% | 15.5× | 6.8% | +10.1% |
| APAR Industries APARINDS.NS | India | $6.25B | +10% | +23% | 9% | 34.6× | n/a | n/a |
| MSA Safety MSA | United States | $6.55B | 0% | +8% | 22% | 17.5× | 8.3% | +6.8% |
| ESCO Technologies ESE | United States | $7.14B | -24% | +17% | 16% | 25.8× | 25.5% | +8.4% |
| China Railway Signal & Communication 3969.HK | Hong Kong | $7.40B | -15% | +6% | 12% | 7.4× | -6.9% | -3.6% |
| Ralliant RAL | United States | $7.49B | +43% | -4% | 15% | 19.2× | 20.5% | -0.3% |
| Honeywell Automation India HONAUT.NS | India | $2.81B | -2% | +5% | 13% | 39.5× | 32.9% | +9.2% |
| Standex International SXI | United States | $2.76B | -13% | +8% | 18% | 20.9× | 15.2% | +6.3% |
| Shihlin Electric & Engineering 1503.TW | Taiwan | $2.51B | -20% | +8% | 12% | 18.9× | 11.5% | +7.7% |
| Posco Future M 003670.KS | South Korea | $10.6B | -36% | -9% | 2% | 282.1× | n/a | n/a |
| Hitachi Energy India POWERINDIA.NS | India | $13.1B | -20% | +40% | 15% | 79.8× | 50.3% | +19.0% |
| NXT NXT | United States | $15.8B | -17% | +14% | 19% | 20.9× | 22.0% | +24.4% |