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Maker of silicone rubber and plastic products (keypads, PVC pipes, semiconductor wafer carriers), part of the Shin-Etsu group.
Maker of silicone rubber and plastic products (keypads, PVC pipes, semiconductor wafer carriers), part of the Shin-Etsu group.
In one line: A Shin-Etsu-group plastics/rubber products maker.
Moat: narrow (process know-how, customer qualification). Shin-Etsu group silicone/PVC process know-how and qualified semiconductor wafer-carrier supply.
Headquarters: Tokyo, Japan · Founded: 1961 · Employees: 4,123
Size Shin-Etsu Polymer (7970.T) is a Japan Materials company (Chemicals: Specialty) with a market value of $1.15B, the 680th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,240 on 6 Nov 2026.
Performance Over six months the shares gained 5.3%, against -22.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 10.0% over the last twelve months (peer median +3.3%); the operating margin is 13.2% (peer median 10.5%).
Valuation It trades at 13.2× forward earnings against a peer median of 19.1× (4th cheapest of 13).
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 +8%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.0 points above its cost of capital (8.0% WACC).
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥123B | ¥115B | ¥111B | ¥104B | ¥108B |
| Revenue growth | — | +4% | +6% | -4% | — |
| Gross profit | ¥37.6B | ¥34.6B | ¥33.9B | ¥31.2B | ¥33.7B |
| EBITDA | ¥22.1B | ¥20.4B | ¥19.1B | ¥15.7B | ¥16.9B |
| Net income | ¥10.5B | ¥9.90B | ¥9.43B | ¥8.67B | ¥8.53B |
| Free cash flow | n/a | ¥10.4B | ¥5.33B | -¥2.60B | -¥1.28B |
| Capital expenditure | n/a | ¥4.24B | ¥11.0B | ¥14.9B | ¥10.9B |
| Total debt | n/a | ¥747M | ¥755M | ¥421M | ¥490M |
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 |
|---|---|---|---|---|---|---|
| Shin-Etsu Polymer 7970.T | $1.15B | +5% | +10% | 13% | 13.2× | -2.9% |
| Entegris ENTG | $19.6B | -14% | +9% | 19% | 23.7× | 26.3% |
| Sekisui Chemical 4204.T | $6.61B | +9% | +6% | 9% | 13.4× | n/a |
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 | 7970.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.9% | -8.9% | 8th lowest of 21 |
| 6-month return | +5.3% | -22.3% | 3rd highest of 21 |
| Distance from 52-week high | -13.9% | -47.1% | 2nd highest of 21 |
| Revenue growth (TTM) | +10.0% | +3.3% | 9th highest of 21 |
| Operating margin | 13.2% | 10.5% | 8th highest of 21 |
| Forward P/E | 13.2× | 19.1× | 4th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -2.9% | 21.3% | 3rd least demanding of 13 |
| Growth delivered (Del g) | +8.4% | +9.5% | 6th lowest of 13 |
| Hurdle (Req g minus delivered) | -11.3 pp | +3.0 pp | 3rd least demanding of 13 |
| ROIC minus cost of capital | +6.0 pp | -1.2 pp | 4th highest of 21 |
| EV / EBITDA | 5.7× | 8.8× | cheapest of 7 |
| Net debt / EBITDA | -2.2× | -0.0× | least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shin-Etsu Polymer 7970.T | Japan | $1.15B | +5% | +10% | 13% | 13.2× | -2.9% | +8.4% |
| Ecovyst ECVT | United States | $1.15B | -26% | +20% | 12% | 14.1× | 8.0% | +7.8% |
| Shandong Boyuan Advanced Materials 301617.SZ | China | $1.15B | -4% | +11% | 12% | n/a | 44.7% | +22.5% |
| Vinati Organics VINATIORGA.NS | India | $1.14B | -26% | +11% | 20% | 23.8× | 24.0% | +18.2% |
| Hebei Jinniu Chemical Industry 600722.SS | China | $1.16B | -16% | -1% | 18% | n/a | 28.1% | +3.0% |
| Jinhong Gas 688106.SS | China | $1.17B | -42% | +15% | 2% | 67.0× | n/a | n/a |
| Anhui Hwasu 600935.SS | China | $1.13B | -22% | -10% | -8% | n/a | 28.1% | -1.0% |
| Hunan Kaimeite Gases 002549.SZ | China | $1.18B | -43% | -7% | -5% | 38.9× | n/a | n/a |
| Jiangsu Sopo Chemical 600746.SS | China | $1.12B | -23% | +6% | 5% | n/a | n/a | n/a |
| Chemtrade Logistics Income Fund CHE-UN.TO | Canada | $1.19B | -17% | +12% | 12% | 9.5× | -0.8% | +7.7% |
| Toagosei 4045.T | Japan | $1.19B | +3% | +2% | 9% | 14.4× | n/a | n/a |
| ISE Chemicals 4107.T | Japan | $1.20B | -30% | 0% | 22% | 36.0× | 18.6% | +18.4% |
| Tongyu Advanced Materials (Guangdong) 301630.SZ | China | $1.21B | -19% | +26% | 18% | n/a | 35.9% | +26.0% |
| Hubei Heyuan Gas 002971.SZ | China | $1.09B | +9% | +12% | 7% | 138.4× | n/a | n/a |
| Yunnan Energy Investment 002053.SZ | China | $1.21B | -24% | -24% | 20% | 11.6× | n/a | n/a |
| Shanghai Skychem Technology 688603.SS | China | $1.22B | -29% | +38% | 19% | 44.6× | n/a | n/a |
| Zhejiang Jiahua Energy Chemical Industry 600273.SS | China | $1.23B | -22% | +4% | 5% | 7.8× | -6.3% | +12.9% |
| Nan Pao Resins Chemical 4766.TW | Taiwan | $1.24B | -6% | +3% | 16% | 13.3× | -8.7% | +8.3% |
| Shanghai Chlor-Alkali Chemical 600618.SS | China | $1.24B | -29% | +2% | 6% | n/a | -0.4% | +9.9% |
| Anhui Shenjian New Materials 002361.SZ | China | $1.25B | -54% | -4% | -3% | n/a | n/a | n/a |
| Guizhou Redstar Developing 600367.SS | China | $1.25B | +14% | +1% | 7% | n/a | 26.8% | +9.1% |