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Employees: 763
Size Nippon Avionics (6946.T) is a Japan Industrials company (Aerospace & Defense) with a market value of $505M, the 1061st largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,755 on 6 Nov 2026.
Performance Over six months the shares fell 26.1%, against -30.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue grew 45.2% over the last twelve months (peer median +5.2%); the operating margin is 21.4% (peer median -3.7%).
Valuation It trades at 12.8× forward earnings against a peer median of 21.2× (cheapest of 12).
Capital Return on invested capital runs 6.3 points above its cost of capital (9.4% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥34.4B | ¥29.2B | ¥20.1B | ¥18.1B | ¥17.8B |
| Revenue growth | — | +45% | +11% | +2% | — |
| Gross profit | ¥12.0B | ¥9.51B | ¥6.64B | ¥5.72B | ¥5.74B |
| EBITDA | n/a | ¥6.00B | ¥3.27B | ¥2.47B | ¥2.17B |
| Net income | ¥5.07B | ¥3.82B | ¥1.96B | ¥2.15B | ¥1.82B |
| Free cash flow | n/a | -¥4.35B | ¥1.74B | -¥706M | -¥1.02B |
| Capital expenditure | n/a | ¥863M | ¥471M | ¥520M | ¥202M |
| Total debt | ¥15.5B | ¥10.5B | ¥4.79B | ¥4.79B | ¥3.65B |
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.
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 | 6946.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -35.2% | -9.0% | lowest of 21 |
| 6-month return | -26.1% | -30.4% | 8th highest of 20 |
| Distance from 52-week high | -47.2% | -48.5% | 10th highest of 21 |
| Revenue growth (TTM) | +45.2% | +5.2% | 4th highest of 20 |
| Operating margin | 21.4% | -3.7% | 2nd highest of 20 |
| Forward P/E | 12.8× | 21.2× | cheapest of 12 |
| ROIC minus cost of capital | +6.3 pp | -5.1 pp | 4th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nippon Avionics 6946.T | Japan | $505M | -26% | +45% | 21% | 12.8× | n/a | n/a |
| Figeac Aero FGA.PA | France | $506M | -3% | +13% | 6% | 20.5× | 14.7% | +18.9% |
| Park Aerospace PKE | United States | $515M | -30% | +28% | 21% | 31.2× | 4.8% | +9.6% |
| Tokyo Keiki 7721.T | Japan | $494M | -37% | +5% | 9% | 14.1× | n/a | n/a |
| TAT Technologies TATT | United States | $481M | +2% | +14% | 11% | 20.6× | 16.8% | +18.8% |
| Satellogic SATL | United States | $535M | -54% | +369% | -67% | n/a | n/a | n/a |
| Chengdu Lihang Technology 603261.SS | China | $458M | +19% | +35% | -52% | n/a | n/a | n/a |
| Beijing Navigation Control Technology 688282.SS | China | $564M | -42% | -4% | -26% | n/a | n/a | n/a |
| Virgin Galactic SPCE | United States | $420M | -6% | -39% | -24,588% | n/a | n/a | n/a |
| Beijing Emerging Eastern Aviation Equipment 002933.SZ | China | $420M | -20% | -6% | 6% | n/a | n/a | n/a |
| Jiangsu Maixinlin Aviation Science and Technology 688685.SS | China | $620M | -42% | -36% | -18% | 21.2× | n/a | n/a |
| Beijing Andawell Science & Technology 300719.SZ | China | $400M | -32% | -3% | -4% | n/a | n/a | n/a |
| Chengdu Jouav Automation Tech 688070.SS | China | $399M | -34% | +5% | 2% | 17.6× | n/a | n/a |
| Eve EVEX | United States | $645M | -43% | n/a | n/a | n/a | n/a | n/a |
| Sun-Create Electronics 600990.SS | China | $669M | -28% | -13% | -30% | 57.1× | 35.7% | -15.1% |
| Xi'An Tian He Defense Technology 300397.SZ | China | $713M | -28% | +69% | -5% | 31.7× | n/a | n/a |
| Shinmaywa Industries,Ltd 7224.T | Japan | $721M | -32% | +12% | 6% | n/a | -5.6% | +6.4% |
| Ideaforge Technology IDEAFORGE.NS | India | $353M | -15% | +221% | -8% | 101.5× | n/a | n/a |
| MS International MSI.L | United Kingdom | $350M | -8% | -2% | 13% | n/a | -7.8% | +13.3% |
| Chengdu ALD Aviation Manufacturing 300696.SZ | China | $733M | -58% | -18% | -12% | 79.0× | n/a | n/a |
| Innovative Solutions and Support IA | United States | $348M | n/a | +20% | 27% | 18.8× | 2.6% | +31.3% |