Obayashi - Public Comps and Valuation Multiples

Obayashi Overview

About Obayashi

Obayashi Corp is a Japan-based company mainly engaged in construction and real estate business. The company operates through five segments. The Domestic Architecture segment undertakes construction work in Japan, while the Domestic Civil Engineering segment handles civil engineering projects within the country. The Overseas Architecture and Overseas Civil Engineering segments are involved in construction and civil engineering projects abroad. The Real Estate segment focuses on development activities, including real estate sales, leasing, and residential land development. The Others segment is engaged in PFI projects, renewable energy, rug business, and financial services. It generates the majority of its revenue from the Domestic Architecture segment.

Founded

1936

HQ

Employees

20.7K+

Website

obayashi.co.jp

Sectors

Construction & Engineering

Financials

LTM Revenue $17.7B

LTM EBITDA $1.2B

EV

$11.2B

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Obayashi Financials

As of August 2025, Obayashi reported last 12-month revenue of $17.7B and EBITDA of $1.2B.

In the same period, Obayashi achieved $881M in LTM net income.

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Obayashi P&L

In the most recent fiscal year, Obayashi reported revenue of $17.8B and EBITDA of $1.7B.

Obayashi 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	$17.7B	XXX	$17.8B	XXX	XXX	XXX
Gross Profit	n/a	XXX	$2.0B	XXX	XXX	XXX
Gross Margin	n/a	XXX	11%	XXX	XXX	XXX
EBITDA	$1.2B	XXX	$1.7B	XXX	XXX	XXX
EBITDA Margin	7%	XXX	9%	XXX	XXX	XXX
EBIT	$932M	XXX	$973M	XXX	XXX	XXX
EBIT Margin	5%	XXX	5%	XXX	XXX	XXX
Net Profit	$881M	XXX	$991M	XXX	XXX	XXX
Net Margin	5%	XXX	6%	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 Obayashi including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $17.7B. EBITDA for the last twelve months was $1.2B. In the most recent fiscal year, Obayashi achieved $17.8B in revenue and $1.7B 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	$17.7B	Analyst estimates available to subscribers	$17.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$2.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	11.4% 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)	$1.2B	Analyst estimates available to subscribers	$1.7B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	6.6% EBITDA margin	Analyst estimates available to subscribers	9.5% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$932M	Analyst estimates available to subscribers	$973M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	5.3% EBIT margin	Analyst estimates available to subscribers	5.5% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$881M	Analyst estimates available to subscribers	$991M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	5.0% net profit margin	Analyst estimates available to subscribers	5.6% 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 Obayashi

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

Recent Performance Highlights

Obayashi generated $17.7B in revenue over the last twelve months.
The company achieved $1.2B in EBITDA over the last twelve months.
Net income over the last twelve months reached $881M.

Fiscal Year Performance

In the most recent fiscal year, Obayashi reported $17.8B in total revenue.
Fiscal year EBITDA was $1.7B.
The company maintained a gross profit margin of 11.4% in the most recent fiscal year.
EBITDA margin for the fiscal year was 9.5%.
Net profit margin reached 5.6% in the most recent fiscal year.

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

Obayashi Stock Performance

Obayashi has current market cap of JPY 1.75T (or $11.9B), and EV of JPY 1.65T (or $11.2B).

Market Cap Evolution

Obayashi Stock Data

As of September 12, 2025, Obayashi's stock price is JPY 2502 (or $17).

See Obayashi trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$11.2B	$11.9B	XXX	XXX	XXX	XXX	$1.24

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Obayashi Valuation Multiples

Obayashi's trades at 0.6x EV/Revenue multiple, and 7.5x EV/EBITDA.

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Obayashi Financial Valuation Multiples

As of September 12, 2025, Obayashi has market cap of $11.9B and EV of $11.2B.

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

Obayashi has a P/E ratio of 13.5x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$11.9B	XXX	$11.9B	XXX	XXX	XXX
EV (current)	$11.2B	XXX	$11.2B	XXX	XXX	XXX
EV/Revenue	0.6x	XXX	0.6x	XXX	XXX	XXX
EV/EBITDA	9.7x	XXX	7.5x	XXX	XXX	XXX
EV/EBIT	12.0x	XXX	12.9x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	13.5x	XXX	13.6x	XXX	XXX	XXX
EV/FCF	16.4x	XXX	84.2x	XXX	XXX	XXX

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

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Obayashi Margins & Growth Rates

Obayashi's last 12 month revenue growth is 1%

Obayashi's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.1M for the same period.

Obayashi's rule of 40 is 9% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Obayashi's rule of X is 9% (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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Obayashi Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	1%	XXX	2%	XXX	XXX	XXX
EBITDA Margin	7%	XXX	9%	XXX	XXX	XXX
EBITDA Growth	2%	XXX	-9%	XXX	XXX	XXX
Rule of 40	9%	XXX	9%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	9%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.9M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	6%	XXX	XXX	XXX

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

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