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Maker of photomask blanks/EUV optics for chipmaking and life-care products like eyeglass and contact lenses.
Maker of photomask blanks/EUV optics for chipmaking and life-care products like eyeglass and contact lenses.
Splits into a health-care side selling eyeglass lenses and endoscopes, the latter through Pentax Medical, and an electronics side selling photomask blanks, the glass plates that chip makers turn into printing masks, plus glass substrates for hard drives. Mask blanks go to a small number of mask makers under long-qualified supply relationships.
In one line: A hybrid of a niche optics supplier (like a smaller Corning) and an eyecare company.
Moat: wide (scale, process know-how, IP / patents). Dominant, near-monopoly share in photomask blanks, a highly specialized, hard-to-replicate manufacturing process.
Headquarters: Tokyo, Japan · Founded: 1941 · Employees: 37,752
Size Hoya (7741.T) is a Japan Health Care company (Medical Specialties) with a market value of $47.4B, the 32nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥22,395 on 6 Nov 2026.
Performance Over six months the shares fell 23.0%, against +26.5% for the median peer and +1.8% for the Japan market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 13.0% over the last twelve months (peer median +8.5%); the operating margin is 31.1% (peer median 20.2%).
Valuation It trades at 26.7× forward earnings against a peer median of 26.6× (10th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 33.5 points above its cost of capital (8.2% WACC).
Next results Next results expected around 2 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.01T | ¥948B | ¥866B | ¥763B | ¥724B |
| Revenue growth | — | +9% | +14% | +5% | — |
| Gross profit | ¥792B | ¥749B | ¥694B | ¥606B | ¥567B |
| EBITDA | ¥378B | ¥439B | ¥392B | ¥344B | ¥342B |
| Net income | ¥282B | ¥253B | ¥202B | ¥181B | ¥169B |
| Free cash flow | ¥244B | ¥222B | ¥187B | ¥182B | ¥168B |
| Capital expenditure | ¥57.3B | ¥56.6B | ¥47.9B | ¥41.1B | ¥33.5B |
| Total debt | ¥42.2B | ¥42.2B | ¥37.3B | ¥29.2B | ¥24.6B |
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 |
|---|---|---|---|---|---|---|
| Hoya 7741.T | $47.4B | -23% | +13% | 31% | 26.7× | 13.3% |
| EssilorLuxottica EL.PA | $101B | +12% | +8% | 12% | 26.6× | 19.4% |
| Shin-etsu Chemical 4063.T | $66.5B | -27% | +5% | 25% | 17.2× | 8.9% |
| Agc 5201.T | $6.33B | -15% | +6% | 6% | 12.6× | 4.8% |
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 | 7741.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.5% | +11.8% | 2nd lowest of 21 |
| 6-month return | -23.0% | +26.5% | lowest of 21 |
| Distance from 52-week high | -26.3% | -8.5% | 4th lowest of 21 |
| Revenue growth (TTM) | +13.0% | +8.5% | 5th highest of 21 |
| Operating margin | 31.1% | 20.2% | 3rd highest of 21 |
| Forward P/E | 26.7× | 26.6× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 13.3% | 17.2% | 9th least demanding of 21 |
| Growth delivered (Del g) | +11.6% | +9.4% | 7th highest of 21 |
| Hurdle (Req g minus delivered) | +1.7 pp | +5.8 pp | 9th least demanding of 21 |
| ROIC minus cost of capital | +33.5 pp | +3.1 pp | 3rd highest of 21 |
| EV / EBITDA | 18.4× | 19.5× | 10th cheapest of 20 |
| Net debt / EBITDA | -1.4× | 1.6× | 2nd least indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hoya 7741.T | Japan | $47.4B | -23% | +13% | 31% | 26.7× | 13.3% | +11.6% |
| Agilent Technologies A | United States | $49.3B | +51% | +9% | 24% | 26.6× | 22.6% | +5.4% |
| Waters WAT | United States | $45.0B | +29% | +81% | 10% | 28.6× | 46.2% | +6.0% |
| Medline MDLN | United States | $52.1B | 0% | +12% | 6% | 26.1× | 17.1% | +9.9% |
| Idexx Laboratories IDXX | United States | $53.3B | +21% | +12% | 32% | 41.5× | 28.0% | +9.7% |
| Siemens Healthineers SHL.DE | Germany | $55.9B | +31% | -1% | 15% | 18.9× | 9.0% | +10.1% |
| Becton Dickinson BDX | United States | $57.7B | +43% | -3% | 15% | 16.0× | 9.6% | +6.3% |
| Edwards Lifesciences EW | United States | $58.9B | +28% | +15% | 29% | 31.4× | 17.2% | +6.7% |
| Alcon ALC.SW | Switzerland | $37.5B | +22% | -1% | 11% | 21.4× | 12.9% | +6.1% |
| GE HealthCare GEHC | United States | $37.2B | +30% | +7% | 14% | 15.4× | 4.3% | +3.7% |
| Boston Scientific BSX | United States | $62.0B | -21% | +9% | 21% | 13.8× | 5.0% | +15.2% |
| Mettler Toledo MTD | United States | $34.5B | +53% | +7% | 28% | 33.9× | 20.3% | +5.5% |
| Shenzhen Mindray Bio-Medical Electronics 300760.SZ | China | $33.4B | +9% | +5% | 28% | 27.1× | 0.9% | +9.7% |
| ResMed RMD | United States | $33.1B | +14% | +9% | 34% | 19.1× | 4.9% | +12.1% |
| Illumina ILMN | United States | $32.2B | +50% | +6% | 21% | 35.7× | 27.1% | +6.0% |
| Dexcom DXCM | United States | $29.6B | +31% | +13% | 24% | 27.0× | 18.5% | +19.3% |
| West Pharmaceutical Services WST | United States | $27.9B | +23% | +13% | 23% | 39.8× | 25.2% | +7.5% |
| Sartorius Stedim Biotech DIM.PA | France | $24.7B | +38% | +4% | 19% | 45.5× | 33.1% | +9.2% |
| Steris STE | United States | $24.6B | +22% | +8% | 20% | 21.4× | 13.7% | +13.8% |
| Terumo 4543.T | Japan | $23.4B | +25% | +14% | 17% | 24.6× | 8.7% | +13.0% |
| EssilorLuxottica EL.PA | France | $101B | +12% | +8% | 12% | 26.6× | 19.4% | +14.6% |