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Renovates and resells previously-owned houses in Japan, addressing the country's large stock of aging/vacant homes.
Renovates and resells previously-owned houses in Japan, addressing the country's large stock of aging/vacant homes.
Earns the gap between what it pays for a used house and the price of the renovated home, buying largely at court auctions and through financial-institution sales; the margin also depends on how quickly it turns over stock.
In one line: Japan's answer to a fix-and-flip homebuilder like a smaller Opendoor.
Moat: narrow (process know-how, scale). Standardized renovation process and acquisition scale versus fragmented local renovators.
Headquarters: Takasaki, Japan · Founded: 2003 · Employees: 1,002
Size Katitas (8919.T) is a Japan Consumer Discretionary company (Homebuilding) with a market value of $1.69B, the 530th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,460 on 6 Nov 2026.
Performance Over six months the shares gained 11.1%, against -12.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 20.5% over the last twelve months (peer median -3.9%); the operating margin is 12.1% (peer median 4.9%).
Valuation It trades at 18.6× forward earnings against a peer median of 15.9× (6th most expensive of 15).
Capital Return on invested capital runs 9.6 points above its cost of capital (7.1% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥161B | ¥152B | ¥130B | ¥127B | ¥121B |
| Revenue growth | — | +17% | +2% | +4% | — |
| Gross profit | ¥37.3B | ¥35.4B | ¥30.7B | ¥27.8B | ¥26.9B |
| EBITDA | ¥19.6B | ¥18.4B | ¥14.3B | ¥12.7B | ¥14.3B |
| Net income | ¥13.3B | ¥12.5B | ¥9.55B | ¥8.50B | ¥6.09B |
| Free cash flow | n/a | -¥5.27B | ¥1.05B | ¥9.43B | -¥1.54B |
| Capital expenditure | n/a | ¥108M | ¥159M | ¥191M | ¥69.0M |
| Total debt | ¥35.5B | ¥26.5B | ¥26.5B | ¥26.5B | ¥18.5B |
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 |
|---|---|---|---|---|---|---|
| Katitas 8919.T | $1.69B | +11% | +20% | 12% | 18.6× | n/a |
| Iida 3291.T | $3.68B | -4% | +7% | 7% | 8.1× | n/a |
| Opendoor Technologies OPEN | $1.36B | -72% | -37% | -16% | n/a | 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 | 8919.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.1% | +0.6% | 11th highest of 21 |
| 6-month return | +11.1% | -12.3% | 5th highest of 21 |
| Distance from 52-week high | -11.1% | -27.4% | 4th highest of 21 |
| Revenue growth (TTM) | +20.5% | -3.9% | 6th highest of 21 |
| Operating margin | 12.1% | 4.9% | 6th highest of 21 |
| Forward P/E | 18.6× | 15.9× | 6th most expensive of 15 |
| ROIC minus cost of capital | +9.6 pp | -1.6 pp | 2nd highest of 21 |
| EV / EBITDA | 15.0× | 12.9× | 2nd most expensive of 10 |
| Net debt / EBITDA | 1.4× | 4.8× | 4th least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Katitas 8919.T | Japan | $1.69B | +11% | +20% | 12% | 18.6× | n/a | n/a |
| Century Communities CCS | United States | $1.56B | 0% | -7% | 2% | 29.2× | n/a | n/a |
| GS Engineering & Construction 006360.KS | South Korea | $1.86B | -22% | -15% | 3% | 16.8× | -9.8% | +4.2% |
| Cairn Homes CRN.L | United Kingdom | $1.92B | +18% | +44% | 18% | 11.9× | -0.7% | +28.6% |
| Gemdale 600383.SS | China | $1.45B | -26% | -47% | -24% | n/a | 10.8% | -15.6% |
| Nishimatsu Construction 1820.T | Japan | $1.28B | -11% | +14% | 8% | 9.6× | n/a | n/a |
| Ruentex Development 9945.TW | Taiwan | $2.27B | +13% | +37% | 19% | n/a | -1.0% | +15.5% |
| JSL Construction & Development 2540.TW | Taiwan | $1.25B | -14% | -35% | 3% | n/a | n/a | n/a |
| Okumura 1833.T | Japan | $1.19B | -17% | 0% | 5% | n/a | n/a | n/a |
| CEVIA Enviro 000885.SZ | China | $1.16B | -14% | -2% | 27% | 6.0× | -8.3% | +14.0% |
| Vistry VTY.L | United Kingdom | $1.12B | -19% | -8% | -9% | 9.5× | n/a | n/a |
| Dream Finders Homes DFH | United States | $1.12B | -13% | -11% | 3% | 441.3× | n/a | n/a |
| LGI Homes LGIH | United States | $1.06B | -2% | -2% | 4% | 17.1× | 18.3% | -6.4% |
| Green Brick Partners GRBK | United States | $2.75B | -2% | -10% | 19% | 12.2× | 7.8% | +15.9% |
| Black Diamond BDI.TO | Canada | $1.02B | +25% | +26% | 12% | 32.7× | n/a | n/a |
| KB Home KBH | United States | $3.08B | +2% | -21% | 5% | 14.9× | 15.2% | +8.3% |
| Huaku Development 2548.TW | Taiwan | $928M | -21% | +331% | 22% | 19.9× | -18.6% | +10.0% |
| Chengdu Hi-Tech Development 000628.SZ | China | $3.10B | -39% | -32% | 4% | n/a | 57.5% | -2.1% |
| Dexterra DXT.TO | Canada | $876M | +59% | +9% | 6% | 24.0× | 5.1% | +17.2% |
| Shanghai Tongji Science & Technology Industrial 600846.SS | China | $870M | -27% | +51% | 3% | n/a | 7.8% | -6.8% |
| M/I Homes MHO | United States | $3.29B | 0% | -6% | 8% | 12.8× | 8.3% | +7.7% |