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Leading Japanese industrial waste treatment company recycling waste solvents, oil and sludge into fuel and raw materials.
Leading Japanese industrial waste treatment company recycling waste solvents, oil and sludge into fuel and raw materials.
Earns twice from the same waste: processing fees from factories that send in used solvents and oil, then sales of the recycled fuel and solvents, whose prices follow oil markets. Licensed treatment sites near industrial areas keep competitors out.
In one line: Japan's Clean Harbors, waste-recycling focused.
Moat: narrow (regulatory licence, scale, installed base). Nationwide network of licensed treatment facilities is difficult and slow to replicate.
Headquarters: Nagoya, Japan · Founded: 1943 · Employees: 1,295
Size Daiseki (9793.T) is a Japan Industrials company (Environmental Services) with a market value of $1.02B, the 728th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,380 on 6 Nov 2026.
Performance Over six months the shares fell 19.8%, against -14.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 3.7% over the last twelve months (peer median +0.7%); the operating margin is 21.1% (peer median 14.8%).
Valuation It trades at 14.0× forward earnings against a peer median of 14.2× (7th cheapest of 14).
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 +7%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 9.0 points above its cost of capital (5.0% WACC).
Next results Next results expected around 6 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥73.2B | ¥71.8B | ¥67.3B | ¥69.2B | ¥58.6B |
| Revenue growth | — | +7% | -3% | +18% | — |
| Gross profit | ¥25.1B | ¥23.9B | ¥22.3B | ¥22.6B | ¥19.5B |
| EBITDA | ¥19.3B | ¥18.3B | ¥17.9B | ¥17.9B | ¥15.2B |
| Net income | ¥10.2B | ¥9.15B | ¥9.31B | ¥9.46B | ¥8.67B |
| Free cash flow | n/a | ¥4.98B | ¥5.58B | ¥7.64B | ¥3.79B |
| Capital expenditure | n/a | ¥6.03B | ¥8.25B | ¥6.27B | ¥6.17B |
| Total debt | ¥7.35B | ¥7.41B | ¥6.40B | ¥5.38B | ¥3.54B |
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 |
|---|---|---|---|---|---|---|
| Daiseki 9793.T | $1.02B | -20% | +4% | 21% | 14.0× | -7.6% |
| Daiei Kankyo 9336.T | $2.57B | +8% | +14% | 26% | 24.2× | 4.2% |
| Clean Harbors CLH | $15.0B | -2% | +10% | 13% | 29.2× | 11.7% |
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 | 9793.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.3% | -0.8% | 8th lowest of 21 |
| 6-month return | -19.8% | -14.4% | 5th lowest of 21 |
| Distance from 52-week high | -23.6% | -28.2% | 6th highest of 21 |
| Revenue growth (TTM) | +3.7% | +0.7% | 8th highest of 21 |
| Operating margin | 21.1% | 14.8% | 5th highest of 19 |
| Forward P/E | 14.0× | 14.2× | 7th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -7.6% | -4.5% | 3rd least demanding of 12 |
| Growth delivered (Del g) | +6.9% | +11.4% | 5th lowest of 12 |
| Hurdle (Req g minus delivered) | -14.4 pp | -11.3 pp | 5th least demanding of 12 |
| ROIC minus cost of capital | +9.0 pp | -0.9 pp | highest of 19 |
| EV / EBITDA | 7.8× | 14.1× | 2nd cheapest of 7 |
| Net debt / EBITDA | -0.7× | 3.4× | 2nd least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Daiseki 9793.T | Japan | $1.02B | -20% | +4% | 21% | 14.0× | -7.6% | +6.9% |
| China Sciences Ecorizon Tech 301175.SZ | China | $1.01B | -7% | +42% | 25% | 18.1× | n/a | n/a |
| Huaxin Resources Technology 301265.SZ | China | $1,000M | -14% | +13% | 7% | n/a | n/a | n/a |
| Zhongyuan Environmental Protection 000544.SZ | China | $1.05B | -15% | 0% | 32% | 5.1× | n/a | n/a |
| EIT Environmental Development 300815.SZ | China | $962M | -25% | +4% | 13% | 10.7× | -7.0% | +12.3% |
| Cleanaway 8422.TW | Taiwan | $937M | -20% | +5% | 30% | 21.0× | n/a | n/a |
| Wangneng Environment 002034.SZ | China | $1.12B | -15% | 0% | 30% | 9.6× | -13.6% | +14.1% |
| Wuhan Tianyuan 301127.SZ | China | $1.31B | -5% | +5% | 17% | 31.1× | n/a | n/a |
| Onterris ONT | United States | $770M | -1% | -1% | 1% | n/a | 44.1% | +20.4% |
| Shenzhen Lions King Hi-Tech 301305.SZ | China | $758M | -22% | +19% | 18% | 13.4× | n/a | n/a |
| Shanghai Environment 601200.SS | China | $1.40B | -16% | -10% | 18% | 14.7× | -2.6% | +6.8% |
| China Resources and Environment 600217.SS | China | $719M | -24% | -19% | -8% | n/a | -13.6% | -2.2% |
| Seche Environnement SCHP.PA | France | $689M | -7% | +2% | 6% | 19.9× | 4.8% | +13.3% |
| Jiangxi JDL Environmental Protection 688057.SS | China | $662M | +28% | -22% | -6% | n/a | -5.3% | -19.8% |
| QiaoYin City Management 002973.SZ | China | $661M | -14% | -12% | 10% | 14.0× | 8.9% | +4.9% |
| China Tianying 000035.SZ | China | $1.64B | -30% | -1% | 16% | 21.9× | n/a | n/a |
| Befesa BFSA.DE | Germany | $1.67B | +6% | -2% | n/a | 13.0× | 3.1% | +14.4% |
| Hunan Junxin Environmental Protection 301109.SZ | China | $1.73B | -9% | +1% | n/a | 14.2× | n/a | n/a |
| Zhejiang Feida Environmental Science & Technology 600526.SS | China | $596M | -18% | +3% | 7% | n/a | -5.3% | +9.5% |
| ECOVE Environment 6803.TWO | Taiwan | $545M | -12% | +6% | 18% | n/a | -4.5% | +11.4% |
| Wuhan Sanzhen Industry 600168.SS | China | $539M | -13% | -3% | 8% | n/a | n/a | n/a |