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One of Japan's largest shipping companies, operating container ships, tankers, bulk carriers and car carriers.
One of Japan's largest shipping companies, operating container ships, tankers, bulk carriers and car carriers.
Earns freight and charter hire: car carriers and LNG ships work largely on long contracts with automakers and energy companies, while bulk ships and tankers trade at market rates. Container shipping runs through Ocean Network Express, a 2018 venture with two Japanese rivals, so it shows as a share of that venture's profit.
In one line: A Japanese peer to Maersk-scale global shipping conglomerates.
Moat: narrow (scale, installed base). Large, diversified global fleet and long-term charter relationships built over decades of shipping operations.
Headquarters: Tokyo, Japan · Founded: 1885 · Employees: 39,830
Size Nippon Yusen Kabushiki Kaisha (9101.T) is a Japan Industrials company (Marine Shipping) with a market value of $16.8B, the 90th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥6,635 on 6 Nov 2026.
Performance Over six months the shares gained 17.0%, against +16.0% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th highest of 20 in its peer set.
Growth Revenue grew 0.5% over the last twelve months (peer median -0.2%); the operating margin is 6.2% (peer median 14.2%).
Valuation It trades at 9.0× forward earnings against a peer median of 8.1× (9th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.6 points below its cost of capital (5.1% WACC).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥2.55T | ¥2.42T | ¥2.59T | ¥2.39T | ¥2.62T |
| Revenue growth | — | -6% | +8% | -9% | — |
| Gross profit | ¥469B | ¥429B | ¥469B | ¥413B | ¥510B |
| EBITDA | ¥348B | ¥318B | ¥369B | ¥319B | ¥420B |
| Net income | ¥227B | ¥212B | ¥478B | ¥229B | ¥1.01T |
| Free cash flow | n/a | ¥169B | ¥304B | ¥65.1B | ¥626B |
| Capital expenditure | n/a | ¥305B | ¥207B | ¥336B | ¥198B |
| Total debt | ¥1.36T | ¥1.20T | ¥738B | ¥914B | ¥694B |
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 |
|---|---|---|---|---|---|---|
| Nippon Yusen Kabushiki Kaisha 9101.T | $16.8B | +17% | 0% | 6% | 9.0× | 7.8% |
| Mitsui O.s.k. Lines 9104.T | $15.0B | +10% | +20% | 6% | 7.3× | n/a |
| Kawasaki Kisen Kaisha 9107.T | $11.0B | +17% | +11% | 8% | 9.4× | 7.3% |
| A.P. Moller - Maersk A/S MAERSK-A.CO | $47.6B | +44% | -8% | 5% | 5.9× | -1.3% |
| COSCO SHIPPING 1919.HK | $38.5B | +20% | -5% | 13% | 6.0× | -8.7% |
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 | 9101.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.0% | -4.1% | 7th lowest of 20 |
| 6-month return | +17.0% | +16.0% | 9th highest of 20 |
| Distance from 52-week high | -12.7% | -15.4% | 7th highest of 20 |
| Revenue growth (TTM) | +0.5% | -0.2% | 10th highest of 20 |
| Operating margin | 6.2% | 14.2% | 6th lowest of 20 |
| Forward P/E | 9.0× | 8.1× | 9th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 7.8% | -2.3% | 3rd most demanding of 18 |
| Growth delivered (Del g) | +8.5% | +7.8% | 9th highest of 18 |
| Hurdle (Req g minus delivered) | -0.7 pp | -13.0 pp | 4th most demanding of 18 |
| ROIC minus cost of capital | -2.6 pp | +2.4 pp | 4th lowest of 20 |
| EV / EBITDA | 11.1× | 5.7× | 4th most expensive of 16 |
| Net debt / EBITDA | 3.3× | 0.2× | 2nd most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nippon Yusen Kabushiki Kaisha 9101.T | Japan | $16.8B | +17% | 0% | 6% | 9.0× | 7.8% | +8.5% |
| Evergreen Marine Corp(taiwan) 2603.TW | Taiwan | $16.1B | +28% | -20% | 15% | 5.0× | -9.1% | +12.9% |
| SITC International 1308.HK | Hong Kong | $15.8B | +34% | +5% | 34% | 10.7× | -0.4% | +15.3% |
| HMM 011200.KS | South Korea | $15.3B | +8% | -5% | 11% | 9.7× | -1.8% | +11.2% |
| Mitsui O.s.k. Lines 9104.T | Japan | $15.0B | +10% | +20% | 6% | 7.3× | n/a | n/a |
| China Merchants Energy Shipping 601872.SS | China | $19.6B | -8% | +60% | 39% | 6.3× | -9.5% | +5.4% |
| COSCO SHIPPING Energy Transportation 600026.SS | China | $13.2B | -21% | +38% | 33% | 6.1× | -8.2% | +7.8% |
| OOIL 0316.HK | Hong Kong | $12.8B | +10% | -8% | 10% | 5.9× | -2.3% | +3.6% |
| Hapag-Lloyd HLAG.DE | Germany | $25.1B | +11% | -9% | 2% | 18.5× | 34.4% | +7.8% |
| Kawasaki Kisen Kaisha 9107.T | Japan | $11.0B | +17% | +11% | 8% | 9.4× | 7.3% | +10.2% |
| Ningbo Zhoushan Port 601018.SS | China | $10.4B | -4% | +12% | 16% | n/a | -7.3% | +7.6% |
| Wan Hai Lines 2615.TW | Taiwan | $9.12B | +40% | -14% | 22% | 5.8× | -12.0% | +11.4% |
| Kuehne & Nagel International KNIN.SW | Switzerland | $34.3B | +35% | +1% | 5% | 25.4× | 3.2% | +3.7% |
| Wallenius Wilhelmsen WAWI.OL | Norway | $7.58B | +29% | -11% | 25% | 10.4× | -6.6% | +21.0% |
| COSCO SHIPPING 1919.HK | Hong Kong | $38.5B | +20% | -5% | 13% | 6.0× | -8.7% | +4.3% |
| Kirby KEX | United States | $6.39B | -15% | +8% | 14% | 14.6× | 6.2% | +9.2% |
| Matson MATX | United States | $6.34B | +16% | 0% | 14% | 10.9× | 11.8% | +7.0% |
| Yang Ming Marine Transport 2609.TW | Taiwan | $6.03B | +14% | -22% | 6% | 6.5× | n/a | n/a |
| A.P. Moller - Maersk A/S MAERSK-A.CO | Denmark | $47.6B | +44% | -8% | 5% | 5.9× | -1.3% | +6.6% |
| COSCO Shipping Specialized Carriers 600428.SS | China | $4.40B | +25% | +37% | 19% | 8.9× | -17.9% | +27.0% |