Hamamatsu Photonics - Public Comps and Valuation Multiples

Hamamatsu Photonics Overview

About Hamamatsu Photonics

Hamamatsu Photonics KK is a Japan-based company engaged in the development, manufacture, and sale of optical and electronic devices. The company operates through four reportable segments: Electron Tube, Optical Semiconductor, Imaging and Measuring Instruments, and Laser Businesses. Its products include photomultiplier tubes, optical semiconductor components, imaging and measuring instruments, and laser-related products.

Founded

1953

HQ

Employees

6.4K+

Website

hamamatsu.com

Sectors

Electronic Components
Sensors & Instruments
Medical Devices
DeepTech
Industry 4.0
HealthTech

Financials

LTM Revenue $1.4B

LTM EBITDA $275M

EV

$2.9B

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Hamamatsu Photonics Financials

As of September 2025, Hamamatsu Photonics reported last 12-month revenue of $1.4B and EBITDA of $275M.

In the same period, Hamamatsu Photonics generated $674M in LTM gross profit and $93.6M in net income.

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Hamamatsu Photonics P&L

In the most recent fiscal year, Hamamatsu Photonics reported revenue of $1.3B and EBITDA of $350M.

Hamamatsu Photonics expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$1.4B	XXX	$1.3B	XXX	XXX	XXX
Gross Profit	$674M	XXX	$681M	XXX	XXX	XXX
Gross Margin	48%	XXX	51%	XXX	XXX	XXX
EBITDA	$275M	XXX	$350M	XXX	XXX	XXX
EBITDA Margin	20%	XXX	26%	XXX	XXX	XXX
EBIT	$121M	XXX	$211M	XXX	XXX	XXX
EBIT Margin	9%	XXX	16%	XXX	XXX	XXX
Net Profit	$93.6M	XXX	$165M	XXX	XXX	XXX
Net Margin	7%	XXX	12%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Hamamatsu Photonics including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $1.4B. EBITDA for the last twelve months was $275M. In the most recent fiscal year, Hamamatsu Photonics achieved $1.3B in revenue and $350M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$1.4B	Analyst estimates available to subscribers	$1.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$674M	Analyst estimates available to subscribers	$681M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	48.2% gross margin	Analyst estimates available to subscribers	50.9% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$275M	Analyst estimates available to subscribers	$350M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	19.7% EBITDA margin	Analyst estimates available to subscribers	26.2% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$121M	Analyst estimates available to subscribers	$211M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	8.6% EBIT margin	Analyst estimates available to subscribers	15.7% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$93.6M	Analyst estimates available to subscribers	$165M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	6.7% net profit margin	Analyst estimates available to subscribers	12.3% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Hamamatsu Photonics

This financial data table provides comprehensive performance metrics for Hamamatsu Photonics, a company based in Japan. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Hamamatsu Photonics generated $1.4B in revenue over the last twelve months.
The company achieved $275M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $674M.
Net income over the last twelve months reached $93.6M.

Fiscal Year Performance

In the most recent fiscal year, Hamamatsu Photonics reported $1.3B in total revenue.
Fiscal year EBITDA was $350M.
The company maintained a gross profit margin of 50.9% in the most recent fiscal year.
EBITDA margin for the fiscal year was 26.2%.
Net profit margin reached 12.3% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Hamamatsu Photonics. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Hamamatsu Photonics Stock Performance

Hamamatsu Photonics has current market cap of JPY 477B (or $3.1B), and EV of JPY 437B (or $2.9B).

Market Cap Evolution

Hamamatsu Photonics Stock Data

As of October 17, 2025, Hamamatsu Photonics's stock price is JPY 1596 (or $10).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$2.9B	$3.1B	XXX	XXX	XXX	XXX	$0.31

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Hamamatsu Photonics Valuation Multiples

Hamamatsu Photonics's trades at 2.1x EV/Revenue multiple, and 8.7x EV/EBITDA.

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Hamamatsu Photonics Financial Valuation Multiples

As of October 17, 2025, Hamamatsu Photonics has market cap of $3.1B and EV of $2.9B.

Equity research analysts estimate Hamamatsu Photonics's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Hamamatsu Photonics has a P/E ratio of 33.4x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$3.1B	XXX	$3.1B	XXX	XXX	XXX
EV (current)	$2.9B	XXX	$2.9B	XXX	XXX	XXX
EV/Revenue	2.0x	XXX	2.1x	XXX	XXX	XXX
EV/EBITDA	10.4x	XXX	8.7x	XXX	XXX	XXX
EV/EBIT	23.7x	XXX	15.2x	XXX	XXX	XXX
EV/Gross Profit	4.3x	XXX	n/a	XXX	XXX	XXX
P/E	33.4x	XXX	21.3x	XXX	XXX	XXX
EV/FCF	-164.6x	XXX	79.4x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Hamamatsu Photonics Margins & Growth Rates

Hamamatsu Photonics's last 12 month revenue growth is 7%

Hamamatsu Photonics's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Hamamatsu Photonics's rule of 40 is 38% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Hamamatsu Photonics's rule of X is 36% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Hamamatsu Photonics Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	7%	XXX	6%	XXX	XXX	XXX
EBITDA Margin	20%	XXX	24%	XXX	XXX	XXX
EBITDA Growth	11%	XXX	-21%	XXX	XXX	XXX
Rule of 40	38%	XXX	31%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	36%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	1%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	7%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	35%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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