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Japanese maker of cameras and optics, also a leading maker of semiconductor/display lithography steppers and precision metrology equipment.
Japanese maker of cameras and optics, also a leading maker of semiconductor/display lithography steppers and precision metrology equipment.
Cameras and lenses, sold through retailers worldwide with fewer but pricier models, are one pillar, while precision equipment sells lithography machines to display and chip makers in lumpy orders. Healthcare, including the Optos eye-imaging business, and metal 3D printing through SLM Solutions, bought in 2023, broaden the group beyond cameras.
In one line: A camera maker like Canon, plus a lithography-equipment business like a smaller ASML.
Moat: narrow (IP / patents, brand, process know-how). Strong optics/camera brand plus semiconductor lithography IP, though lagging ASML in advanced nodes.
Headquarters: Tokyo, Japan · Founded: 1917 · Employees: 19,928
Size Nikon (7731.T) is a Japan Consumer Discretionary company (Electronics/Appliances) with a market value of $3.17B, the 347th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,518 on 6 Nov 2026.
Performance Over six months the shares fell 12.1%, against +7.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue fell 3.7% over the last twelve months (peer median +2.1%); the operating margin is -1.9% (peer median 7.7%).
Valuation It trades at 45.4× forward earnings against a peer median of 17.3× (4th most expensive of 20).
Capital Return on invested capital runs 8.4 points below its cost of capital (7.1% WACC).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥683B | ¥677B | ¥715B | ¥717B | ¥628B |
| Revenue growth | — | -5% | 0% | +14% | — |
| Gross profit | ¥275B | ¥262B | ¥294B | ¥296B | ¥278B |
| EBITDA | ¥30.1B | ¥31.1B | ¥61.0B | ¥77.7B | ¥87.0B |
| Net income | -¥94.3B | -¥86.1B | ¥6.12B | ¥32.6B | ¥44.9B |
| Free cash flow | -¥24.4B | -¥41.0B | -¥3.90B | -¥8.45B | -¥23.1B |
| Capital expenditure | ¥56.3B | ¥55.7B | ¥69.7B | ¥55.2B | ¥33.0B |
| Total debt | ¥219B | ¥240B | ¥214B | ¥192B | ¥158B |
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 |
|---|---|---|---|---|---|---|
| Nikon 7731.T | $3.17B | -12% | -4% | -2% | 45.4× | n/a |
| Canon 7751.T | $28.4B | +18% | +4% | 10% | 12.2× | -0.6% |
| Sony 6758.T | $156B | +33% | +1% | 13% | 18.7× | 3.4% |
| ASML Holding N.V. - New York Re ASML | $574B | -11% | +29% | 39% | 22.4× | 26.4% |
| Fujifilm 4901.T | $24.9B | +14% | +7% | 10% | 14.1× | n/a |
| Panasonic 6752.T | $44.5B | -6% | +4% | 8% | 13.5× | 9.8% |
| Olympus 7733.T | $12.2B | +13% | +8% | 16% | 18.0× | -1.5% |
| Hexagon HEXA-B.ST | $29.4B | +14% | -20% | -14% | 30.0× | 9.1% |
| Keyence 6861.T | $107B | -2% | +25% | 54% | 28.7× | 21.1% |
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 | 7731.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.8% | +2.1% | lowest of 21 |
| 6-month return | -12.1% | +7.1% | 6th lowest of 21 |
| Distance from 52-week high | -36.5% | -21.4% | 5th lowest of 21 |
| Revenue growth (TTM) | -3.7% | +2.1% | 5th lowest of 21 |
| Operating margin | -1.9% | 7.7% | lowest of 21 |
| Forward P/E | 45.4× | 17.3× | 4th most expensive of 20 |
| ROIC minus cost of capital | -8.4 pp | +3.1 pp | 2nd lowest of 21 |
| Net debt / EBITDA | 2.1× | 0.3× | 4th most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nikon 7731.T | Japan | $3.17B | -12% | -4% | -2% | 45.4× | n/a | n/a |
| Breville BRG.AX | Australia | $3.33B | +13% | +7% | 11% | 31.1× | 26.4% | +8.8% |
| Joyoung 002242.SZ | China | $2.87B | +131% | -7% | -1% | 159.7× | n/a | n/a |
| Seb SK.PA | France | $3.55B | +8% | -1% | 8% | 12.1× | -0.8% | +3.3% |
| Kingclean Electric 603355.SS | China | $2.79B | +4% | -2% | 8% | 35.9× | 4.4% | +9.4% |
| Casio Computer 6952.T | Japan | $2.74B | +24% | +12% | 11% | 15.9× | 0.2% | +4.0% |
| IMAX IMAX | United States | $2.61B | +35% | +15% | 23% | 18.8× | 12.2% | +24.5% |
| Electrolux ELUX-A.ST | Sweden | $2.50B | +11% | -3% | -1% | 18.1× | 1.2% | +2.6% |
| Cowell e 1415.HK | Hong Kong | $2.38B | -33% | +15% | 7% | 9.8× | -10.3% | +36.2% |
| Ecovacs Robotics 603486.SS | China | $4.22B | -25% | +10% | 7% | 14.5× | 16.2% | +21.4% |
| Theon International THEON.AS | Netherlands | $2.36B | -10% | +32% | 23% | 17.1× | 18.7% | +52.2% |
| Hisense Home Appliances 0921.HK | Hong Kong | $4.26B | -24% | -6% | 3% | 9.3× | -13.5% | +11.9% |
| Shanghai Flyco Electrical Appliance 603868.SS | China | $2.34B | +4% | +1% | 17% | 24.2× | 4.6% | +1.5% |
| Shenzhen MTC 002429.SZ | China | $4.30B | -42% | +3% | 7% | 22.1× | n/a | n/a |
| Hangzhou Robam Appliances 002508.SZ | China | $2.28B | -10% | -18% | 8% | 14.4× | 6.3% | +4.5% |
| Whirlpool WHR | United States | $2.01B | -32% | -6% | 2% | n/a | n/a | n/a |
| Spectrum Brands SPB | United States | $1.99B | +6% | +1% | 9% | 17.1× | -2.5% | +1.4% |
| Sonos SONO | United States | $1.94B | +9% | +6% | 6% | 149.2× | 17.3% | +1.7% |
| Beijing Roborock Technology 688169.SS | China | $5.29B | +17% | +31% | 8% | 17.3× | 4.6% | +32.8% |
| Hisense Visual Technology 600060.SS | China | $5.31B | +8% | -2% | 5% | 12.8× | -3.4% | +8.0% |
| Aditya Infotech CPPLUS.NS | India | $5.37B | +68% | +36% | 13% | 69.9× | n/a | n/a |