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Japanese shipbuilder constructing bulk carriers and tankers for domestic and international shipping companies.
Japanese shipbuilder constructing bulk carriers and tankers for domestic and international shipping companies.
Earns on contracts to build each vessel at an agreed price, with payment staged through the build, so the order backlog sets output several years ahead. Ship repair is a smaller line.
In one line: A mid-size commercial shipyard, competing globally against Korean/Chinese yards.
Moat: none (process know-how). Shipbuilding is capital-intensive and highly competitive against lower-cost Korean and Chinese yards.
Headquarters: Imari, Saga, Japan · Founded: 1911 · Employees: 2,436
Size Namura Shipbuilding (7014.T) is a Japan Industrials company (Trucks/Construction/Farm Machinery) with a market value of $1.62B, the 547th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,680 on 6 Nov 2026.
Performance Over six months the shares fell 9.1%, against -13.7% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 6.5% over the last twelve months (peer median +11.1%); the operating margin is 19.3% (peer median 7.6%).
Valuation It trades at 9.9× forward earnings against a peer median of 13.4× (4th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 41.0 points above its cost of capital (14.8% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥166B | ¥159B | ¥159B | ¥135B | ¥124B |
| Revenue growth | — | 0% | +18% | +9% | — |
| Gross profit | ¥40.5B | ¥36.2B | ¥36.3B | ¥22.9B | ¥15.0B |
| EBITDA | ¥36.0B | ¥31.9B | ¥32.9B | ¥20.1B | ¥13.2B |
| Net income | ¥24.4B | ¥21.6B | ¥26.2B | ¥20.0B | ¥11.2B |
| Free cash flow | n/a | ¥32.1B | ¥32.4B | ¥25.6B | ¥7.10B |
| Capital expenditure | n/a | ¥6.90B | ¥5.54B | ¥1.93B | ¥2.08B |
| Total debt | ¥20.6B | ¥21.3B | ¥18.2B | ¥13.3B | ¥11.7B |
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 | 7014.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.5% | -7.0% | 6th lowest of 21 |
| 6-month return | -9.1% | -13.7% | 7th highest of 21 |
| Distance from 52-week high | -39.2% | -36.5% | 11th highest of 21 |
| Revenue growth (TTM) | +6.5% | +11.1% | 7th lowest of 21 |
| Operating margin | 19.3% | 7.6% | 3rd highest of 21 |
| Forward P/E | 9.9× | 13.4× | 4th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -3.1% | 10.8% | least demanding of 17 |
| Growth delivered (Del g) | +10.1% | +10.1% | 9th highest of 17 |
| Hurdle (Req g minus delivered) | -13.2 pp | -2.3 pp | 4th least demanding of 17 |
| ROIC minus cost of capital | +41.0 pp | -0.4 pp | highest of 21 |
| EV / EBITDA | 4.4× | 9.5× | 2nd cheapest of 12 |
| Net debt / EBITDA | -2.8× | 0.7× | 2nd least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Namura Shipbuilding 7014.T | Japan | $1.62B | -9% | +7% | 19% | 9.9× | -3.1% | +10.1% |
| Alamo ALG | United States | $1.63B | -18% | +2% | 7% | 11.6× | 7.0% | +6.6% |
| Lonking 3339.HK | Hong Kong | $1.57B | -14% | +22% | 12% | 7.0× | n/a | n/a |
| Wacker Neuson WAC.DE | Germany | $1.71B | +20% | +14% | 7% | 13.4× | 1.5% | +6.6% |
| Swan Defence and Heavy Industries SWANDEF.NS | India | $1.54B | +48% | +642% | -109% | n/a | 57.1% | +113.9% |
| CoCreation Grass 605099.SS | China | $1.72B | -41% | +10% | 21% | 15.4× | 2.2% | +12.3% |
| JiangSu Changling Hydraulic 605389.SS | China | $1.72B | -32% | +19% | 12% | n/a | 36.1% | +4.4% |
| Xiangyang Changyuandonggu Industry 603950.SS | China | $1.72B | -36% | -8% | 17% | 22.8× | 22.1% | +6.1% |
| BEML BEML.NS | India | $1.72B | -2% | +13% | 6% | 39.1× | n/a | n/a |
| Deutz DEZ.DE | Germany | $1.74B | -13% | +11% | 5% | 11.4× | 19.8% | +9.5% |
| Bestway Marine & Energy Technology 300008.SZ | China | $1.51B | -29% | +1% | 8% | 30.6× | 14.5% | +54.0% |
| Hanwha Engine 082740.KS | South Korea | $1.50B | -72% | +3% | 12% | 10.9× | -0.3% | +10.6% |
| Action Construction Equipment ACE.NS | India | $1.47B | +29% | +5% | 15% | 29.0× | 29.6% | +21.7% |
| Weichai Heavy Machinery 000880.SZ | China | $1.44B | -33% | +58% | 2% | n/a | 6.8% | +13.1% |
| Comer Industries COM.MI | Italy | $1.43B | -18% | +31% | 10% | 13.5× | 3.1% | +17.7% |
| Hengbo 301225.SZ | China | $1.41B | -11% | +69% | 7% | 85.7× | n/a | n/a |
| Nisshinbo 3105.T | Japan | $1.87B | -9% | +2% | 7% | 11.5× | 3.6% | +1.9% |
| Beijing Jiuzhouyigui Environmental Technology 688485.SS | China | $1.91B | +29% | +9% | 2% | n/a | n/a | n/a |
| First Tractor 0038.HK | Hong Kong | $1.93B | -12% | +18% | 6% | 8.5× | -1.8% | +6.7% |
| Mitsui ES 7003.T | Japan | $1.98B | -45% | +12% | 11% | 8.7× | 16.0% | -11.3% |
| Ingersoll-Rand (India) INGERRAND.NS | India | $1.33B | -13% | +8% | 23% | 41.2× | 34.1% | +17.6% |