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Japanese maker of interchangeable camera lenses and optical components for cameras, machine vision and automotive cameras.
Japanese maker of interchangeable camera lenses and optical components for cameras, machine vision and automotive cameras.
Sells lenses under its own name that fit other makers' mirrorless camera bodies, notably Sony's E-mount, so sales depend on access to those mounts and on camera demand. Most sales are outside Japan. Lenses for security, factory and car cameras are a second line that does not follow the camera cycle.
In one line: A smaller, lens-focused optics maker with no direct US listed peer.
Moat: narrow (IP / patents, process know-how). Optical design and precision manufacturing know-how across mirrorless lens mounts.
Headquarters: Saitama, Japan · Founded: 1950 · Employees: 4,977
Size Tamron (7740.T) is a Japan Consumer Discretionary company (Electronics/Appliances) with a market value of $1.39B, the 597th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,316 on 6 Nov 2026.
Performance Over six months the shares gained 21.7%, against -15.5% for the median peer and +1.8% for the Japan market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue grew 1.5% over the last twelve months (peer median +4.9%); the operating margin is 17.5% (peer median 5.2%).
Valuation It trades at 15.3× forward earnings against a peer median of 26.1× (4th cheapest of 15).
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 +12%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 9.9 points above its cost of capital (8.9% WACC).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥86.6B | ¥85.1B | ¥88.5B | ¥71.4B | ¥63.4B |
| Revenue growth | — | -4% | +24% | +13% | — |
| Gross profit | ¥36.6B | ¥37.4B | ¥39.4B | ¥31.7B | ¥27.6B |
| EBITDA | ¥18.9B | ¥20.2B | ¥22.3B | ¥16.6B | ¥14.0B |
| Net income | ¥11.1B | ¥11.8B | ¥14.5B | ¥10.8B | ¥8.35B |
| Free cash flow | n/a | ¥10.7B | ¥12.8B | ¥5.37B | ¥6.15B |
| Capital expenditure | n/a | ¥4.66B | ¥5.20B | ¥5.20B | ¥3.20B |
| Total debt | ¥1.15B | ¥1.15B | ¥2.33B | ¥1.91B | ¥1.99B |
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 |
|---|---|---|---|---|---|---|
| Tamron 7740.T | $1.39B | +22% | +2% | 17% | 15.3× | 5.9% |
| Canon 7751.T | $28.4B | +18% | +4% | 10% | 12.2× | -0.6% |
| Nikon 7731.T | $3.17B | -12% | -4% | -2% | 45.4× | n/a |
| Sony 6758.T | $156B | +33% | +1% | 13% | 18.7× | 3.4% |
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 | 7740.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.1% | -3.4% | 8th lowest of 21 |
| 6-month return | +21.7% | -15.5% | highest of 20 |
| Distance from 52-week high | -16.2% | -41.6% | 3rd highest of 21 |
| Revenue growth (TTM) | +1.5% | +4.9% | 8th lowest of 21 |
| Operating margin | 17.5% | 5.2% | 3rd highest of 21 |
| Forward P/E | 15.3× | 26.1× | 4th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 5.9% | 6.0% | 6th least demanding of 11 |
| Growth delivered (Del g) | +12.0% | +5.3% | 3rd highest of 11 |
| Hurdle (Req g minus delivered) | -6.1 pp | -2.0 pp | 3rd least demanding of 11 |
| ROIC minus cost of capital | +9.9 pp | +1.1 pp | 7th highest of 21 |
| EV / EBITDA | 9.8× | 10.7× | 3rd cheapest of 5 |
| Net debt / EBITDA | -1.8× | -0.0× | 3rd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tamron 7740.T | Japan | $1.39B | +22% | +2% | 17% | 15.3× | 5.9% | +12.0% |
| Gettop Acoustic 002655.SZ | China | $1.39B | -19% | +11% | 2% | n/a | n/a | n/a |
| Guangdong Xinbao Electrical Appliances 002705.SZ | China | $1.38B | -25% | -4% | 4% | 24.3× | -2.7% | +4.2% |
| OneRobotics (Shenzhen) 6600.HK | Hong Kong | $1.41B | -55% | +48% | -9% | n/a | n/a | n/a |
| Guangdong TCL Smart Home Appliances 002668.SZ | China | $1.37B | -12% | +4% | 12% | 8.4× | -18.7% | +17.4% |
| Shenzhen Newway Photomask Making 688401.SS | China | $1.45B | -27% | +18% | 26% | 17.9× | 23.6% | +23.7% |
| Actions Technology 688049.SS | China | $1.25B | -1% | +26% | 17% | 30.3× | n/a | n/a |
| Sichuan Jiuzhou Electric 000801.SZ | China | $1.58B | -19% | +20% | 3% | 45.1× | n/a | n/a |
| Edifier Technology 002351.SZ | China | $1.60B | +8% | -1% | 18% | 22.3× | 3.0% | +7.6% |
| Tatung 2371.TW | Taiwan | $1.70B | -15% | +8% | 4% | 10.0× | n/a | n/a |
| Whirlpool Of India WHIRLPOOL.NS | India | $1.11B | -16% | +6% | 2% | 29.3× | 47.2% | +6.4% |
| Hangzhou Heatwell Electric Heating Technology 603075.SS | China | $1.05B | -26% | +11% | 15% | n/a | 9.0% | +7.9% |
| Ningbo Fujia Industrial 603219.SS | China | $1.03B | -26% | +3% | 4% | 55.6× | n/a | n/a |
| XGimi Technology 688696.SS | China | $1.01B | +7% | +4% | 2% | 27.9× | n/a | n/a |
| Hefei I-TEK OptoElectronics 688610.SS | China | $1.01B | +18% | +72% | 14% | 45.9× | n/a | n/a |
| Sonos SONO | United States | $1.94B | +9% | +6% | 6% | 149.2× | 17.3% | +1.7% |
| Woori Technology 032820.KS | South Korea | $984M | -64% | -2% | -12% | n/a | n/a | n/a |
| Spectrum Brands SPB | United States | $1.99B | +6% | +1% | 9% | 17.1× | -2.5% | +1.4% |
| Ningbo Hicon Industry Technology 001237.SZ | China | $969M | n/a | -10% | 14% | n/a | 9.9% | -10.3% |
| Whirlpool WHR | United States | $2.01B | -32% | -6% | 2% | n/a | n/a | n/a |
| Whirlpool China 600983.SS | China | $936M | -13% | -2% | 11% | 14.0× | -7.2% | -1.9% |