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Japan's largest parcel delivery company, operating the nationwide Kuroneko Yamato (TA-Q-BIN) courier network.
Japan's largest parcel delivery company, operating the nationwide Kuroneko Yamato (TA-Q-BIN) courier network.
Earns a delivery fee on every parcel, with the price set by size, distance and delivery window, so profit depends on keeping trucks and sorting hubs full. It built its network around door-to-door home delivery for consumers and now moves growing volumes of online-shopping and business freight. Driver supply and fuel are the main cost pressures.
In one line: Japan's UPS/FedEx Ground.
Moat: narrow (scale, brand, distribution). Dominant nationwide delivery network and brand built over decades, costly for rivals to replicate.
Headquarters: Tokyo, Japan · Founded: 1919 · Employees: 174,696
Size Yamato (9064.T) is a Japan Industrials company (Air Freight/Couriers) with a market value of $4.83B, the 250th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,220 on 6 Nov 2026.
Performance Over six months the shares gained 25.8%, against -7.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 2.0% over the last twelve months (peer median +7.3%); the operating margin is 1.6% (peer median 4.2%).
Valuation It trades at 34.5× forward earnings against a peer median of 14.0× (3rd most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +7 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 1.2 points below its cost of capital (5.0% WACC).
Next results Next results expected around 8 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.87T | ¥1.87T | ¥1.76T | ¥1.76T | ¥1.80T |
| Revenue growth | — | +6% | 0% | -2% | — |
| Gross profit | ¥89.3B | ¥84.9B | ¥67.0B | ¥92.2B | ¥111B |
| EBITDA | ¥98.1B | ¥96.5B | ¥63.3B | ¥84.5B | ¥102B |
| Net income | ¥7.99B | ¥13.7B | ¥37.9B | ¥37.6B | ¥45.9B |
| Free cash flow | ¥18.3B | ¥34.6B | -¥7.26B | ¥32.4B | ¥54.5B |
| Capital expenditure | ¥23.0B | ¥37.6B | ¥55.0B | ¥32.0B | ¥35.4B |
| Total debt | ¥180B | ¥196B | ¥174B | ¥92.5B | ¥48.3B |
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 |
|---|---|---|---|---|---|---|
| Yamato 9064.T | $4.83B | +26% | +2% | 2% | 34.5× | 8.9% |
| SG Holdings Co., Ltd. 9143.T | $5.56B | +1% | +14% | 5% | 14.0× | -2.6% |
| Japan Post Hldgs 6178.T | $39.0B | +24% | 0% | 8% | 14.3× | n/a |
| Seino 9076.T | $2.48B | +9% | +7% | 5% | 14.5× | -3.2% |
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 | 9064.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.9% | -0.3% | 3rd highest of 21 |
| 6-month return | +25.8% | -7.3% | 2nd highest of 21 |
| Distance from 52-week high | -6.2% | -19.3% | 3rd highest of 21 |
| Revenue growth (TTM) | +2.0% | +7.3% | 5th lowest of 21 |
| Operating margin | 1.6% | 4.2% | 6th lowest of 20 |
| Forward P/E | 34.5× | 14.0× | 3rd most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 8.9% | -0.4% | 6th most demanding of 16 |
| Growth delivered (Del g) | +1.9% | +9.0% | 4th lowest of 16 |
| Hurdle (Req g minus delivered) | +6.9 pp | -7.2 pp | 4th most demanding of 16 |
| ROIC minus cost of capital | -1.2 pp | -1.9 pp | 10th highest of 20 |
| EV / EBITDA | 7.6× | 9.4× | 4th cheapest of 10 |
| Net debt / EBITDA | -0.2× | 2.3× | 2nd least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Yamato 9064.T | Japan | $4.83B | +26% | +2% | 2% | 34.5× | 8.9% | +1.9% |
| Compagnie de l'Odet ODET.PA | France | $4.74B | -30% | -83% | -8% | n/a | 24.3% | -29.4% |
| Eastern Air Logistics 601156.SS | China | $4.70B | +23% | +20% | 14% | 10.9× | -16.0% | +9.9% |
| Logista Integral LOG.MC | Spain | $5.42B | +15% | +4% | 2% | 15.8× | -5.9% | +5.4% |
| SG Holdings Co., Ltd. 9143.T | Japan | $5.56B | +1% | +14% | 5% | 14.0× | -2.6% | +4.6% |
| Swiggy SWIGGY.NS | India | $5.61B | -32% | +42% | -15% | n/a | n/a | n/a |
| Shanghai Zhonggu Logistics 603565.SS | China | $3.97B | +16% | +4% | 27% | 10.4× | -14.4% | +0.4% |
| Antong 600179.SS | China | $3.81B | -7% | +9% | 16% | n/a | -4.0% | +13.5% |
| Xiamen C&D 600153.SS | China | $3.77B | -8% | -6% | 1% | 12.4× | 21.2% | +9.3% |
| GXO Logistics GXO | United States | $6.33B | +7% | +7% | 3% | 16.0× | 20.2% | +16.3% |
| Sinotrans 0598.HK | Hong Kong | $6.57B | -8% | +4% | 0% | 8.6× | 9.4% | +2.0% |
| Delhivery DELHIVERY.NS | India | $3.40B | -11% | +24% | 0% | 81.8× | n/a | n/a |
| Huaihe Energy 600575.SS | China | $3.38B | -12% | +38% | n/a | 12.2× | n/a | n/a |
| Yunnan Yuntianhua 600096.SS | China | $7.17B | -28% | -19% | 11% | 9.3× | -1.7% | -1.5% |
| Aegis Vopak Terminals AEGISVOPAK.NS | India | $2.89B | +14% | +17% | 53% | 61.3× | n/a | n/a |
| Nippon Express Hldgs 9147.T | Japan | $8.22B | +35% | +2% | 3% | 17.6× | 7.9% | +4.4% |
| ID Logistics IDL.PA | France | $2.80B | +7% | +16% | 4% | 30.3× | 10.4% | +17.9% |
| Yunda 002120.SZ | China | $2.74B | -20% | +7% | 4% | 9.7× | -13.2% | +9.0% |
| Mitsubishi Logistics 9301.T | Japan | $2.67B | -15% | -1% | 6% | 16.0× | n/a | n/a |
| Jd Logistics 2618.HK | Hong Kong | $9.10B | -29% | +29% | 3% | 6.9× | -0.4% | +23.4% |
| SENKO 9069.T | Japan | $2.45B | +23% | +7% | 4% | 15.2× | 4.4% | +9.5% |