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Makes scientific and analytical instruments, including mass spectrometers, plus medical imaging equipment.
Makes scientific and analytical instruments, including mass spectrometers, plus medical imaging equipment.
Sells analytical instruments to labs and then supplies recurring service and consumables, such as columns and replacement parts, for the installed base. Separate businesses cover x-ray imaging for hospitals, aircraft equipment and industrial machinery. A large share of sales comes from outside Japan.
In one line: A smaller Agilent/Thermo Fisher.
Moat: narrow (process know-how, installed base). Precision analytical-instrument expertise and installed base drive recurring service/consumables.
Headquarters: Kyoto, Japan · Founded: 1875 · Employees: 14,649
Size Shimadzu (7701.T) is a Japan Health Care company (Medical Specialties) with a market value of $7.79B, the 165th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,170 on 6 Nov 2026.
Performance Over six months the shares gained 14.8%, against +35.0% for the median peer and +1.8% for the Japan market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 6.0% over the last twelve months (peer median +2.7%); the operating margin is 13.2% (peer median 16.9%).
Valuation It trades at 19.5× forward earnings against a peer median of 21.6× (8th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.7 points above its cost of capital (7.5% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥573B | ¥561B | ¥539B | ¥512B | ¥482B |
| Revenue growth | — | +4% | +5% | +6% | — |
| Gross profit | ¥257B | ¥250B | ¥234B | ¥221B | ¥201B |
| EBITDA | ¥96.8B | ¥95.0B | ¥92.4B | ¥91.9B | ¥86.1B |
| Net income | ¥65.9B | ¥60.5B | ¥53.8B | ¥57.0B | ¥52.0B |
| Free cash flow | n/a | ¥39.7B | ¥36.9B | ¥14.6B | ¥31.5B |
| Capital expenditure | n/a | ¥14.9B | ¥15.1B | ¥15.5B | ¥16.8B |
| Total debt | ¥10.4B | ¥10.5B | ¥11.7B | ¥11.9B | ¥11.3B |
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 |
|---|---|---|---|---|---|---|
| Shimadzu 7701.T | $7.79B | +15% | +6% | 13% | 19.5× | 6.3% |
| Thermo Fisher Scientific TMO | $257B | +50% | +8% | 19% | 25.8× | 20.9% |
| Agilent Technologies A | $49.3B | +51% | +9% | 24% | 26.6× | 22.6% |
| Sysmex 6869.T | $7.89B | +50% | +4% | 13% | 31.2× | 4.4% |
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 | 7701.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.3% | +10.1% | 5th lowest of 21 |
| 6-month return | +14.8% | +35.0% | 6th lowest of 21 |
| Distance from 52-week high | -8.2% | -10.1% | 9th highest of 21 |
| Revenue growth (TTM) | +6.0% | +2.7% | 9th highest of 21 |
| Operating margin | 13.2% | 16.9% | 9th lowest of 21 |
| Forward P/E | 19.5× | 21.6× | 8th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 6.3% | 10.9% | 6th least demanding of 20 |
| Growth delivered (Del g) | +7.3% | +10.0% | 7th lowest of 20 |
| Hurdle (Req g minus delivered) | -1.1 pp | +0.9 pp | 10th least demanding of 20 |
| ROIC minus cost of capital | +4.7 pp | +2.7 pp | 8th highest of 21 |
| EV / EBITDA | 11.2× | 15.9× | 3rd cheapest of 18 |
| Net debt / EBITDA | -1.5× | 1.2× | least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shimadzu 7701.T | Japan | $7.79B | +15% | +6% | 13% | 19.5× | 6.3% | +7.3% |
| Getinge GETI-B.ST | Sweden | $7.73B | +45% | -4% | 14% | 21.0× | 4.7% | +3.2% |
| Sysmex 6869.T | Japan | $7.89B | +50% | +4% | 13% | 31.2× | 4.4% | +10.4% |
| Bausch + Lomb BLCO.TO | Canada | $7.20B | +31% | +11% | 9% | 17.3× | 11.0% | +10.0% |
| Shenzhen New Industries Biomedical Engineering 300832.SZ | China | $7.11B | +25% | +7% | 43% | 25.5× | 2.1% | +15.7% |
| Cochlear COH.AX | Australia | $7.05B | +55% | -1% | 13% | 29.4× | 24.1% | +9.3% |
| Lantheus LNTH | United States | $6.57B | +8% | +2% | 19% | 17.5× | -0.5% | +35.3% |
| Bruker BRKR | United States | $9.34B | +39% | +2% | 9% | 26.2× | 25.7% | +11.6% |
| ConvaTec CTEC.L | United Kingdom | $6.44B | +22% | +2% | 16% | 16.7× | 15.6% | +4.6% |
| Teleflex TFX | United States | $6.39B | +13% | -14% | 11% | 16.8× | 17.8% | -4.7% |
| Globus Medical GMED | United States | $9.54B | -9% | +20% | 22% | 14.1× | 5.5% | +30.1% |
| Ypsomed YPSN.SW | Switzerland | $6.35B | +30% | -2% | 25% | 30.1× | 11.5% | +12.6% |
| Asahi Intecc 7747.T | Japan | $6.28B | +13% | +21% | 31% | 26.0× | 13.6% | +18.8% |
| Insulet PODD | United States | $10.2B | -5% | +26% | 18% | 19.5× | 10.3% | +24.5% |
| APT Medical 688617.SS | China | $5.95B | +20% | +28% | 37% | 38.5× | 8.7% | +40.1% |
| Bio-Rad Laboratories BIO | United States | $10.3B | +50% | +1% | 9% | 35.7× | 26.5% | +0.3% |
| Qiagen QGEN | United States | $10.4B | +52% | +3% | 25% | 19.8× | 8.8% | +2.2% |
| Avantor AVTR | United States | $10.5B | +86% | +1% | 8% | 17.7× | 16.1% | +0.5% |
| Haemonetics HAE | United States | $5.46B | +118% | 0% | 18% | 21.6× | 10.9% | +8.9% |
| GRAIL GRAL | United States | $5.42B | +67% | +23% | -323% | n/a | n/a | n/a |
| Demant A/S DEMANT.CO | Denmark | $11.6B | +62% | +10% | 18% | 25.7× | 6.8% | +9.8% |