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Japanese IT systems integrator providing software development and infrastructure services to enterprises.
Japanese IT systems integrator providing software development and infrastructure services to enterprises.
In one line: A mid-size Japanese IT systems integrator.
Moat: none (process know-how). Operates in a fragmented, price-competitive Japanese IT services market.
Headquarters: Tokyo, Japan · Founded: 1972 · Employees: 6,135
Size DTS (9682.T) is a Japan Information Technology company (Information Technology Services) with a market value of $1.14B, the 683rd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,164 on 6 Nov 2026.
Performance Over six months the shares gained 14.1%, against -7.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue fell 0.2% over the last twelve months (peer median +6.3%); the operating margin is 12.3% (peer median -1.7%).
Valuation It trades at 15.5× forward earnings against a peer median of 28.6× (3rd cheapest of 15).
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 +8%, so the hurdle is -17 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 28.0 points above its cost of capital (5.2% WACC).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥133B | ¥135B | ¥126B | ¥116B | ¥106B |
| Revenue growth | — | +7% | +9% | +9% | — |
| Gross profit | ¥29.6B | ¥29.3B | ¥27.9B | ¥24.4B | ¥20.7B |
| EBITDA | ¥17.6B | ¥17.7B | ¥15.6B | ¥13.6B | ¥12.4B |
| Net income | ¥11.6B | ¥11.6B | ¥10.6B | ¥7.29B | ¥8.00B |
| Free cash flow | n/a | ¥8.49B | ¥9.14B | ¥10.1B | ¥7.36B |
| Capital expenditure | n/a | ¥793M | ¥1.03B | ¥705M | ¥649M |
| Total debt | n/a | ¥272M | ¥199M | ¥600M | ¥197M |
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 |
|---|---|---|---|---|---|---|
| DTS 9682.T | $1.14B | +14% | 0% | 12% | 15.5× | -9.1% |
| NS Solutions 2327.T | $4.43B | +6% | +12% | 12% | 21.3× | -5.1% |
| Future 4722.T | $1.36B | +59% | +8% | 20% | 17.2× | -5.4% |
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 | 9682.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.1% | -1.0% | 6th highest of 21 |
| 6-month return | +14.1% | -7.2% | 8th highest of 21 |
| Distance from 52-week high | -14.5% | -40.8% | 4th highest of 21 |
| Revenue growth (TTM) | -0.2% | +6.3% | 5th lowest of 21 |
| Operating margin | 12.3% | -1.7% | 5th highest of 21 |
| Forward P/E | 15.5× | 28.6× | 3rd cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | -9.1% | 14.8% | 2nd least demanding of 14 |
| Growth delivered (Del g) | +8.4% | +11.8% | 5th lowest of 13 |
| Hurdle (Req g minus delivered) | -17.4 pp | +5.7 pp | 2nd least demanding of 13 |
| ROIC minus cost of capital | +28.0 pp | -8.0 pp | 3rd highest of 20 |
| EV / EBITDA | 8.6× | 21.5× | 2nd cheapest of 8 |
| Net debt / EBITDA | -1.7× | -0.8× | 4th least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| DTS 9682.T | Japan | $1.14B | +14% | 0% | 12% | 15.5× | -9.1% | +8.4% |
| Nagarro NA9.DE | Germany | $1.12B | +78% | +1% | 8% | 16.9× | 3.8% | +18.4% |
| Northsand,Inc 446A.T | Japan | $1.11B | +99% | +60% | 21% | 26.0× | 2.3% | n/a |
| Shanghai Fengyuzhu Culture Technology 603466.SS | China | $1.21B | +40% | -23% | -4% | 74.3× | n/a | n/a |
| E2E Networks E2E.NS | India | $1.06B | +49% | +252% | 28% | 60.1× | n/a | n/a |
| Wonders Information 300168.SZ | China | $1.05B | -16% | +3% | -17% | 487.0× | 51.6% | -7.6% |
| Grid Dynamics GDYN | United States | $1.05B | +88% | +7% | 4% | 21.8× | 27.8% | +29.9% |
| Taiji Computer 002368.SZ | China | $1.24B | -23% | -37% | -27% | n/a | 4.1% | -1.8% |
| China Reform Health Management & Services 000503.SZ | China | $1.03B | -11% | +6% | -45% | n/a | n/a | n/a |
| Zhejiang Whyis Technology 301218.SZ | China | $1.27B | +147% | +23% | -15% | n/a | n/a | n/a |
| ZW Soft 688083.SS | China | $1.27B | -12% | +2% | -15% | 95.2× | 30.3% | +14.5% |
| Systena 2317.T | Japan | $1.02B | +4% | +6% | 16% | 14.5× | -10.9% | +9.2% |
| Shenzhen Das Intellitech 002421.SZ | China | $996M | +5% | -17% | -17% | n/a | 14.8% | -8.8% |
| Bittium BITTI.HE | Finland | $1.31B | -3% | +48% | 22% | 42.4× | 18.4% | +8.8% |
| Rapid7 RPD | United States | $989M | +113% | 0% | 2% | 7.7× | 21.4% | +15.9% |
| Shanghai Ganglian E-Commerce 300226.SZ | China | $979M | -21% | +1% | 0% | 19.9× | 6.1% | +3.9% |
| Both Engineering Technology 601133.SS | China | $1.34B | -26% | +14% | 5% | 35.7× | 24.3% | +16.2% |
| Doushen (Beijing) Education & Technology 300010.SZ | China | $1.34B | -15% | +24% | -31% | 31.1× | n/a | n/a |
| Strait Innovation Internet 300300.SZ | China | $964M | -23% | -8% | -66% | n/a | n/a | n/a |
| Nanjing Sciyon Wisdom Technology 002380.SZ | China | $957M | -22% | +7% | 12% | 16.2× | 11.3% | +17.4% |
| 4DMedical 4DX.AX | Australia | $952M | -33% | +21% | -814% | n/a | n/a | n/a |