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Japan's largest security services company, providing alarm monitoring, guarding and related safety services.
Japan's largest security services company, providing alarm monitoring, guarding and related safety services.
Customers pay monthly fees for round-the-clock alarm monitoring, with guards dispatched when an alarm trips, so most income is recurring contracts and the number of connected sites is the base. It was founded in 1962 and helped create Japan's commercial security-service industry.
In one line: Japan's ADT.
Moat: narrow (brand, installed base, network effects). Largest security brand in Japan with a dense monitoring/response network built over decades.
Headquarters: Tokyo, Japan · Founded: 1962 · Employees: 65,094
Size Secom (9735.T) is a Japan Industrials company (Miscellaneous Commercial Services) with a market value of $18.8B, the 86th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥6,673 on 6 Nov 2026.
Performance Over six months the shares gained 16.2%, against +4.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue grew 4.2% over the last twelve months (peer median +4.3%); the operating margin is 12.7% (peer median 15.0%).
Valuation It trades at 22.7× forward earnings against a peer median of 22.7× (11th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.6 points above its cost of capital (5.0% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.27T | ¥1.26T | ¥1.20T | ¥1.15T | ¥1.10T |
| Revenue growth | — | +5% | +4% | +5% | — |
| Gross profit | ¥384B | ¥380B | ¥352B | ¥339B | ¥326B |
| EBITDA | ¥243B | ¥241B | ¥222B | ¥212B | ¥206B |
| Net income | ¥112B | ¥113B | ¥108B | ¥102B | ¥96.1B |
| Free cash flow | n/a | ¥130B | ¥95.2B | ¥83.0B | ¥95.7B |
| Capital expenditure | n/a | ¥90.6B | ¥95.3B | ¥94.4B | ¥61.3B |
| Total debt | ¥71.3B | ¥68.5B | ¥72.6B | ¥69.0B | ¥64.3B |
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 |
|---|---|---|---|---|---|---|
| Secom 9735.T | $18.8B | +16% | +4% | 13% | 22.7× | -0.3% |
| Alsok 2331.T | $3.79B | -1% | +7% | 8% | 13.7× | -6.0% |
| ADT ADT | $6.66B | +44% | +2% | 25% | 10.3× | -2.9% |
| Securitas SECU-B.ST | $9.22B | +4% | -5% | 7% | 12.3× | -4.9% |
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 | 9735.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.4% | +10.8% | 7th lowest of 21 |
| 6-month return | +16.2% | +4.4% | 5th highest of 20 |
| Distance from 52-week high | -7.6% | -15.4% | 8th highest of 21 |
| Revenue growth (TTM) | +4.2% | +4.3% | 11th highest of 21 |
| Operating margin | 12.7% | 15.0% | 8th lowest of 21 |
| Forward P/E | 22.7× | 22.7× | 11th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -0.3% | 8.6% | 5th least demanding of 20 |
| Growth delivered (Del g) | +3.9% | +7.5% | 4th lowest of 20 |
| Hurdle (Req g minus delivered) | -4.2 pp | -0.5 pp | 7th least demanding of 20 |
| ROIC minus cost of capital | +4.6 pp | +6.4 pp | 9th lowest of 20 |
| EV / EBITDA | 10.9× | 13.0× | 5th cheapest of 20 |
| Net debt / EBITDA | -2.1× | 1.8× | 2nd least indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Secom 9735.T | Japan | $18.8B | +16% | +4% | 13% | 22.7× | -0.3% | +3.9% |
| Rollins ROL | United States | $18.1B | -29% | +8% | 19% | 31.4× | 11.2% | +11.7% |
| Eurofins Scientific ERF.PA | France | $17.5B | +49% | +3% | 12% | 23.0× | 13.3% | +6.1% |
| Computershare CPU.AX | Australia | $17.2B | +44% | 0% | 30% | 19.1× | -2.6% | +9.2% |
| UL Solutions ULS | United States | $15.9B | -22% | +6% | 19% | 31.2× | 9.1% | +5.8% |
| Bureau Veritas BVI.PA | France | $14.9B | +13% | +2% | 15% | 20.2× | 7.9% | +7.0% |
| Sgs SGSN.SW | Switzerland | $24.8B | +21% | +5% | 15% | 24.5× | 3.1% | +4.4% |
| Intertek ITRK.L | United Kingdom | $12.3B | +12% | +4% | 18% | 22.3× | 14.8% | +4.6% |
| CETC Lantian Technology 688818.SS | China | $12.1B | -33% | +5% | 9% | 214.2× | n/a | n/a |
| Rentokil Initial RTO.L | United Kingdom | $11.9B | -26% | 0% | 14% | 16.9× | 8.2% | +13.4% |
| Baycurrent 6532.T | Japan | $11.2B | +132% | +32% | 33% | 35.6× | 6.4% | +28.2% |
| Adyen ADYEN.AS | Netherlands | $32.0B | 0% | +17% | 42% | 23.7× | 18.9% | -6.0% |
| Booz Allen Hamilton BAH | United States | $10.1B | +11% | -6% | 9% | 13.3× | -7.0% | +7.4% |
| Universal Music UMG.AS | Netherlands | $35.3B | -15% | +5% | 16% | 16.9× | 7.1% | +11.0% |
| Experian EXPN.L | United Kingdom | $36.1B | +16% | +7% | 25% | 20.5× | 14.6% | +8.9% |
| Securitas SECU-B.ST | Sweden | $9.22B | +4% | -5% | 7% | 12.3× | -4.9% | +7.5% |
| CAE CAE.TO | Canada | $8.67B | +3% | +5% | 13% | 29.5× | 13.2% | +10.5% |
| Spie SPIE.PA | France | $8.64B | -8% | +3% | 6% | 14.5× | 8.6% | +9.3% |
| Vylor VYLR | United States | $46.8B | n/a | +3% | 15% | 25.6× | 26.2% | +2.9% |
| ALS ALQ.AX | Australia | $7.40B | -3% | +11% | 17% | 23.6× | 23.0% | +13.5% |
| Iss A/s ISS.CO | Denmark | $7.08B | +13% | +4% | 5% | 15.3× | -6.1% | +3.7% |