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Japanese third-party logistics provider offering trucking, warehousing and supply-chain management for manufacturers and retailers.
Japanese third-party logistics provider offering trucking, warehousing and supply-chain management for manufacturers and retailers.
Paid for moving and storing goods on contracts that bundle trucking, warehousing and handling for a manufacturer or retailer, so volumes follow its clients' output and shipments. Margins are set largely by how full its trucks and warehouses are and by driver and fuel costs.
In one line: A Japanese contract-logistics/3PL operator, akin to a regional XPO Logistics.
Moat: none (scale, distribution). Nationwide trucking/warehouse network provides scale, but logistics is a competitive, low-differentiation business.
Headquarters: Tokyo, Japan · Employees: 13,746
Size NIKKON (9072.T) is a Japan Industrials company (Trucking) with a market value of $3.25B, the 338th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,134 on 6 Nov 2026.
Performance Over six months the shares fell 18.7%, against -8.8% for the median peer and +1.8% for the Japan market (cap-weighted) — 6th lowest of 16 in its peer set.
Growth Revenue grew 6.6% over the last twelve months (peer median +7.7%); the operating margin is 8.7% (peer median 5.0%).
Valuation It trades at 26.9× forward earnings against a peer median of 15.6× (2nd most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +4 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 0.9 points below its cost of capital (5.7% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥273B | ¥270B | ¥248B | ¥222B | ¥212B |
| Revenue growth | — | +9% | +11% | +5% | — |
| Gross profit | ¥42.1B | ¥40.5B | ¥37.4B | ¥32.2B | ¥30.0B |
| EBITDA | ¥42.5B | ¥42.5B | ¥38.6B | ¥33.7B | ¥31.9B |
| Net income | ¥16.1B | ¥17.5B | ¥16.6B | ¥16.6B | ¥15.9B |
| Free cash flow | n/a | ¥11.3B | ¥954M | ¥7.59B | ¥10.3B |
| Capital expenditure | n/a | ¥28.2B | ¥27.5B | ¥24.0B | ¥22.7B |
| Total debt | ¥131B | ¥136B | ¥119B | ¥79.2B | ¥73.4B |
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 |
|---|---|---|---|---|---|---|
| NIKKON 9072.T | $3.25B | -19% | +7% | 9% | 26.9× | 12.0% |
| Seino 9076.T | $2.48B | +9% | +7% | 5% | 14.5× | -3.2% |
| Yamato 9064.T | $4.83B | +26% | +2% | 2% | 34.5× | 8.9% |
| Nippon Express Hldgs 9147.T | $8.22B | +35% | +2% | 3% | 17.6× | 7.9% |
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 | 9072.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.9% | -2.7% | 5th lowest of 16 |
| 6-month return | -18.7% | -8.8% | 6th lowest of 16 |
| Distance from 52-week high | -38.2% | -29.2% | 4th lowest of 16 |
| Revenue growth (TTM) | +6.6% | +7.7% | 6th lowest of 16 |
| Operating margin | 8.7% | 5.0% | 5th highest of 16 |
| Forward P/E | 26.9× | 15.6× | 2nd most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 12.0% | 7.1% | 5th most demanding of 14 |
| Growth delivered (Del g) | +8.1% | +9.8% | 7th lowest of 14 |
| Hurdle (Req g minus delivered) | +3.9 pp | -5.2 pp | 6th most demanding of 14 |
| ROIC minus cost of capital | -0.9 pp | -1.2 pp | 8th highest of 16 |
| EV / EBITDA | 14.2× | 8.1× | most expensive of 14 |
| Net debt / EBITDA | 2.1× | 0.4× | 6th most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| NIKKON 9072.T | Japan | $3.25B | -19% | +7% | 9% | 26.9× | 12.0% | +8.1% |
| Fujian Highton Development 603162.SS | China | $3.60B | +3% | +72% | 17% | 11.4× | 3.8% | +45.6% |
| ArcBest ARCB | United States | $2.86B | +6% | +8% | 3% | 13.6× | 16.5% | +6.4% |
| Seino 9076.T | Japan | $2.48B | +9% | +7% | 5% | 14.5× | -3.2% | +6.5% |
| Landstar System LSTR | United States | $4.83B | -22% | +11% | 4% | 19.8× | 12.0% | +2.8% |
| Schneider National SNDR | United States | $4.88B | -10% | +6% | 3% | 18.7× | 19.5% | +4.5% |
| Mullen MTL.TO | Canada | $1.98B | +36% | +12% | 9% | 18.2× | 6.5% | +12.9% |
| STEF STF.PA | France | $1.79B | +12% | +8% | 4% | 11.0× | 7.1% | +10.2% |
| Werner Enterprises WERN | United States | $1.62B | -26% | +15% | 2% | 18.8× | n/a | n/a |
| TFI International TFII.TO | Canada | $7.86B | -29% | +3% | 7% | 14.2× | 11.6% | +16.8% |
| Saia SAIA | United States | $8.86B | -26% | +9% | 11% | 24.0× | 27.4% | +12.2% |
| Knight-Swift Transportation KNX | United States | $9.51B | -9% | +7% | 4% | 15.6× | 21.3% | +9.8% |
| NTG Nordic Transport Group A/S NTG.CO | Denmark | $1.09B | +71% | +16% | 5% | 20.6× | -0.4% | +16.4% |
| Marten Transport MRTN | United States | $959M | -25% | -5% | 1% | 27.1× | n/a | n/a |
| Logwin TGHN.DE | Germany | $942M | +5% | -6% | 5% | 15.2× | -16.0% | +3.9% |
| Maruzen Showa Unyu 9068.T | Japan | $922M | -15% | +3% | 10% | 10.5× | -7.4% | +4.2% |