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Densan Valuation Multiples

Discover Densan's revenue and EBITDA valuation multiples and investment history.

Densan Overview

About Densan

Densan Co Ltd is engaged in the development and provision of information systems and related services. Its reporting segments include the Public Sector and the Industrial Sector. In the Public Sector, it serves local governments and related organizations by developing, selling, and supporting package systems, as well as offering equipment sales and information processing services. The Industrial Sector focuses on private enterprises and medical and welfare institutions, offering software development, equipment sales, and various information services. It also includes internet connectivity services for general consumers. It generates the majority of its revenue from the Public Sector segment.


Founded

1966

HQ

Japan

Employees

701

Financials (LTM)

Revenue: $173M
Net Income: $28M

EV

$60M

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Densan Financials

Densan reported last 12-month revenue of $173M.

In the same LTM period, Densan generated $28M in net income.


Densan P&L

In the most recent fiscal year, Densan reported revenue of $116M and EBITDA of $21M.

Densan is profitable as of last fiscal year, with gross margin of 35%, EBITDA margin of 18%, and net margin of 10%.

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LTMLast FY202320242025202620272028
Revenue$173M$116M$102M$112M$159M
Gross Profit-$40M$36M$39M$40M
Gross Margin-35%35%35%25%
EBITDA-$21M$14M$19M$21M
EBITDA Margin-18%14%17%13%
EBIT Margin23%13%10%12%21%
Net Profit$28M$11M$7M$10M$24M
Net Margin16%10%7%9%15%

Financial data powered by Morningstar, Inc.

Densan Stock Performance

Densan has current market cap of $78M, and enterprise value of $60M.


Densan's stock price is $14.05.

Densan has an EPS (earnings per share) of $2.05.

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EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$60M$78M-0.3%---$2.05

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Densan Valuation Multiples

Densan trades at 0.3x EV/Revenue multiple, and 2.8x EV/EBITDA.

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Densan Financial Valuation Multiples

As of June 26, 2026, Densan has market cap of $78M and EV of $60M.

Densan has a P/E ratio of 2.8x.

LTMLast FY202320242025202620272028
EV/Revenue0.3x0.5x0.6x0.5x0.4x
EV/EBITDA-2.8x4.3x3.1x2.8x
EV/EBIT1.5x3.9x6.1x4.4x1.8x
EV/Gross Profit-1.5x1.7x1.6x1.5x
P/E2.8x6.8x11.7x7.9x3.3x
EV/FCF-4.3x16.3x5.4x4.3x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Densan Margins & Growth Rates

Densan grew revenue by 49% and net profit by 145% in the last fiscal year.

In the most recent fiscal year, Densan reported gross margin of 35%, EBITDA margin of 18%, and net margin of 10%.

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Densan Margins

Last FY202420252026202720282029
Gross Margin35%35%25%-
EBITDA Margin18%17%13%-
EBIT Margin13%12%21%23%
Net Margin10%9%15%16%
FCF Margin12%10%9%-

Densan Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth49%10%42%9%
Gross Profit Growth-8%4%-
EBITDA Growth-36%11%-
EBIT Growth152%39%143%18%
Net Profit Growth145%49%139%17%
FCF Growth-201%25%-

Data powered by FactSet, Inc. and Morningstar, Inc.

Densan Operational KPIs

Densan's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.0M for the same period.

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Last FY202320242025202620272028
Revenue per Employee$0.2M---
Opex per Employee$0.0M---
Opex to Revenue21%25%22%15%

Data powered by FactSet, Inc. and Morningstar, Inc.

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Densan Competitors

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E

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Investments by Densan

Densan has invested in 1 company to date.

Latest investment by Densan was on June 17th 2026. Densan invested in ITSO in their Secondary round.

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Latest Investments by Densan

ITSO
Description
Itso is a technology company that offers hyper-automation services.
HQ CountryJapan
HQ City
Tokyo
Deal Date17 Jun 2026
RoundSecondary
Raisedundisclosed
InvestorsDensan
Valuationundisclosed
EV/Revenue
EV/EBITDA

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About Densan

When was Densan founded?Densan was founded in 1966.
Where is Densan headquartered?Densan is headquartered in Japan.
How many employees does Densan have?As of today, Densan has over 701 employees.
Is Densan publicly listed?Yes, Densan is a public company listed on Tokyo Stock Exchange.
What is the stock symbol of Densan?Densan trades under 3640 ticker.
When did Densan go public?Densan went public in 1966.
Who are competitors of Densan?Densan main competitors include
What is the current market cap of Densan?Densan's current market cap is $78M.
What is the current revenue of Densan?Densan's last 12 months revenue is $173M.
What is the current revenue growth of Densan?Densan revenue growth (vs. last FY) is 49%.
What is the current EV/Revenue multiple of Densan?Current revenue multiple of Densan is 0.3x.
What is the current net income of Densan?Densan's last 12 months net income is $28M.
How many companies Densan has acquired to date?Densan hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies Densan has invested to date?As of June 2026, Densan has invested in 1 company.
What was the last Densan investment?On 17th June 2026 Densan invested in ITSO, participating in a Secondary round.
In what companies Densan invested in?Densan invested in ITSO.

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