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Operates Sagawa Express, Japan's second-largest parcel delivery and logistics company.
Operates Sagawa Express, Japan's second-largest parcel delivery and logistics company.
Collects a fee per parcel from shippers, mostly businesses, and delivers through its Sagawa Express network, so volumes and the pricing agreed with e-commerce clients matter. Labour is a main cost, and Japan's driver shortage pushes up pricing across the industry. International forwarding and logistics provide diversification.
In one line: Japan's FedEx Ground.
Moat: narrow (scale, distribution, installed base). Nationwide delivery network scale is costly for new entrants to replicate.
Headquarters: Kyoto, Japan · Founded: 1957 · Employees: 60,483
Size SG Holdings Co., Ltd. (9143.T) is a Japan Industrials company (Air Freight/Couriers) with a market value of $5.56B, the 224th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,470 on 6 Nov 2026.
Performance Over six months the shares gained 0.5%, against -7.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 14.1% over the last twelve months (peer median +7.4%); the operating margin is 5.4% (peer median 3.2%).
Valuation It trades at 14.0× forward earnings against a peer median of 12.4× (9th most expensive of 18).
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 +5%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.6 points above its cost of capital (5.0% WACC).
Next results Next results expected around 22 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.72T | ¥1.64T | ¥1.48T | ¥1.32T | ¥1.43T |
| Revenue growth | — | +11% | +12% | -8% | — |
| Gross profit | ¥201B | ¥181B | ¥155B | ¥149B | ¥193B |
| EBITDA | ¥151B | ¥146B | ¥131B | ¥126B | ¥168B |
| Net income | ¥61.2B | ¥59.1B | ¥58.1B | ¥58.3B | ¥127B |
| Free cash flow | n/a | ¥45.6B | ¥69.8B | ¥42.4B | ¥141B |
| Capital expenditure | n/a | ¥83.9B | ¥53.2B | ¥41.8B | ¥31.4B |
| Total debt | ¥393B | ¥394B | ¥205B | ¥84.8B | ¥97.2B |
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 |
|---|---|---|---|---|---|---|
| SG Holdings Co., Ltd. 9143.T | $5.56B | +1% | +14% | 5% | 14.0× | -2.6% |
| Yamato 9064.T | $4.83B | +26% | +2% | 2% | 34.5× | 8.9% |
| Japan Post Hldgs 6178.T | $39.0B | +24% | 0% | 8% | 14.3× | n/a |
| 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 | 9143.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.6% | +5.3% | 9th lowest of 21 |
| 6-month return | +0.5% | -7.3% | 10th highest of 21 |
| Distance from 52-week high | -12.3% | -18.1% | 7th highest of 21 |
| Revenue growth (TTM) | +14.1% | +7.4% | 8th highest of 21 |
| Operating margin | 5.4% | 3.2% | 9th highest of 20 |
| Forward P/E | 14.0× | 12.4× | 9th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | -2.6% | 3.7% | 7th least demanding of 17 |
| Growth delivered (Del g) | +4.6% | +8.9% | 7th lowest of 17 |
| Hurdle (Req g minus delivered) | -7.2 pp | -4.1 pp | 9th least demanding of 17 |
| ROIC minus cost of capital | +2.6 pp | -1.2 pp | 8th highest of 20 |
| EV / EBITDA | 7.8× | 7.3× | 4th most expensive of 9 |
| Net debt / EBITDA | 2.0× | 2.3× | 5th least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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 |
| Logista Integral LOG.MC | Spain | $5.42B | +15% | +4% | 2% | 15.8× | -5.9% | +5.4% |
| GXO Logistics GXO | United States | $6.33B | +7% | +7% | 3% | 16.0× | 20.2% | +16.3% |
| 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% |
| Sinotrans 0598.HK | Hong Kong | $6.57B | -8% | +4% | 0% | 8.6× | 9.4% | +2.0% |
| Eastern Air Logistics 601156.SS | China | $4.70B | +23% | +20% | 14% | 10.9× | -16.0% | +9.9% |
| Yunnan Yuntianhua 600096.SS | China | $7.17B | -28% | -19% | 11% | 9.3× | -1.7% | -1.5% |
| 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% |
| Nippon Express Hldgs 9147.T | Japan | $8.22B | +35% | +2% | 3% | 17.6× | 7.9% | +4.4% |
| Jd Logistics 2618.HK | Hong Kong | $9.10B | -29% | +29% | 3% | 6.9× | -0.4% | +23.4% |
| 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 |
| YTO Express 600233.SS | China | $9.63B | -13% | +8% | 9% | 10.3× | -12.2% | +16.6% |
| Ryder System R | United States | $10.2B | +11% | +3% | 8% | 15.2× | 7.9% | +8.5% |
| Aegis Vopak Terminals AEGISVOPAK.NS | India | $2.89B | +14% | +17% | 53% | 61.3× | n/a | n/a |
| Hyundaiglovis 086280.KS | South Korea | $10.9B | -13% | +12% | 6% | 8.7× | -10.8% | +12.3% |
| ID Logistics IDL.PA | France | $2.80B | +7% | +16% | 4% | 30.3× | 10.4% | +17.9% |