DENSO Corporation

¥1,860As of Sun 8 Nov 2026, 12:00 UTC

TSE:6902Consumer Disc

Country Japan

PE (Fwd) •••

TSR 10Y CAGR 7.87%

Div yield 3.98%

ROE 8.93%

Auto Parts

Beta (5Y) 0.62

PE TTM 11.36

TSR TTM (10.63%)

Mkt cap ¥4.665T

ROIC 7.93%

SE Grade™

Value

Quality

Moat

Consensus

Reference

¥2,085

12.08%

(51.21%)

Hold 8|0|12|3|4

TTM

FYE 31 Mar JPY

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026

FY2027E

Trend

5Y

10Y

Peers

985.8

Revenue¥B

1,081

1,078

1,102

1,092

1,105

1,143

1,143

1,173

1,205

1,236

1,077

2.27%

1.75%

92

29.94

Revenue growth%

8.31

5.38

8.29

10.06

11.29

9.67

12.30

15.06

13.94

13.15

12.80

13.15

10.67

77

18.81

Gross margin%

26.79

26.09

23.64

24.29

24.31

26.90

24.24

21.84

20.97

23.09

20.56

23.09

24.27

32

29.62

Operating margin%

15.98

18.72

20.86

17.90

17.46

18.26

19.25

18.08

19.96

19.34

22.65

19.25

18.49

85

21.23

Net margin%

0.40

2.71

3.55

2.41

0.98

3.60

0.93

3.33

5.79

5.34

3.21

3.60

3.02

77

10.74

P/E ratio (avg)x

27.82

31.60

34.33

34.66

34.57

39.36

44.88

49.84

49.85

53.74

25.19

49.84

37.01

20

22.38

EV/EBITx

23.73

25.68

25.64

27.97

31.55

34.21

36.21

36.24

38.94

38.22

15.86

36.24

32.88

70

10.54

FCF yield (avg)%

24.45

21.99

23.65

24.54

22.10

24.44

26.16

23.42

21.19

24.00

27.34

24.00

23.83

65

15.83

FCF margin%

26.59

28.85

28.87

26.88

29.19

29.32

29.56

31.58

29.27

27.22

22.45

29.32

29.03

35

1.753

FCF / Net incomex

2.420

2.382

2.240

2.550

2.689

2.718

2.721

2.763

2.756

3.187

1.512

2.756

2.704

73

19.44

ROIC%

13.90

12.37

14.93

17.59

18.84

21.30

23.66

21.00

19.00

16.02

3.63

21.00

18.21

39

21.03

Return on equity%

13.47

11.74

11.03

13.03

11.73

10.69

13.65

14.69

16.53

16.72

5.33

14.69

13.25

78

3.66

Return on assets%

4.65

4.94

3.44

6.25

7.05

9.66

8.77

9.51

7.49

9.62

27.64

9.51

7.27

18

131.66

EPS¥

287.71

313.82

344.83

350.66

328.10

300.93

276.22

296.39

297.67

326.83

144.59

(0.08%)

1.68%

—

2.64

EPS growth%

28.08

26.78

28.29

30.77

31.22

32.55

30.06

28.60

29.83

30.94

23.33

30.06

29.95

60

178.16

Bookvalue per sh¥

339.29

369.13

360.16

365.53

368.08

387.74

398.81

462.79

461.98

496.82

276.93

6.18%

3.74%

—

107.11

FCF per share¥

151.48

145.62

146.82

159.37

164.51

162.02

169.60

199.59

188.41

201.76

100.88

4.17%

4.00%

—

159.93

Dividend per sh¥

154.00

182.97

192.10

187.17

214.24

227.38

234.78

244.03

282.53

294.36

109.67

6.56%

8.16%

—

28.25

Div yield (avg)%

4.66

4.40

5.35

7.77

8.35

7.16

6.55

7.30

6.08

4.45

24.54

6.55

6.32

81

13.27

Payout ratio%

16.70

19.32

18.10

17.47

16.91

18.37

18.11

17.80

16.43

13.63

26.51

17.80

17.63

63

2.500

Shares (diluted)B

2.532

2.599

2.451

2.451

2.410

2.604

2.370

2.373

2.539

2.661

2.490

2.00%

0.12%

33

22.13

Buyback yield%

0.40

0.40

2.44

4.44

2.00

0.62

2.31

1.40

3.03

5.46

17.36

2.31

2.16

90

1.758

D/E ratiox

1.464

1.286

1.167

1.041

0.940

0.906

0.899

0.885

0.829

0.878

1.192

0.885

0.923

15

1,396

Enterprise value¥B

847.3

993.6

1,010

1,067

1,105

1,079

1,268

1,389

1,502

1,823

1,259

10.53%

8.40%

87

1,665

LT debt¥B

302.0

269.4

300.6

277.4

254.3

234.0

225.6

198.2

187.3

166.8

1,073

(8.09%)

(5.61%)

83

Peers (US$29.62B)

Cap (US$)

PE

Bridgestone Corporation

32.44B

12.61x

Sumitomo Electric…

26.94B

9.845x

Aisin Corporation

9.427B

10.13x

Hyundai Mobis Co.,Ltd

22.76B

8.558x

Capital

TTM

5Y

10Y

Leveragex

1.409

0.215

0.188

EBIT/Intx

0.377

0.204

0.194

Own earn%

(34.70)

(261.58)

(243.57)

Sh yield%

50.38

8.86

8.78

Owners

Insiders/Inst%

12.44

24.60

Short interest%

5.67

SBC / revenue%

2.23

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

22

Op margin range%

16–21

$1 testx

0.0

Incr. ROIC%

1

DENSO Corporation engages in the manufacture and sale of automotive parts in Japan, Rest of Asia, North America, Europe, and internationally.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

¥1.236T

1.75%

1.00×

Cost of revenue

¥690.2B

1.53%

0.98×

Operating expenses

¥303.0B

1.85%

1.01×