Daiwa Industries Ltd. (DAWIF)
NEUTRALFundamental
58
Price
$134.60
Market Cap
$2.25B
Part 1 · What the company is worth
Overview
Daiwa Industries manufactures commercial refrigeration and kitchen equipment in Japan — freezers, refrigerators, display showcases, ice makers and vending machines — sold to restaurants, food retailers and other foodservice businesses. Beyond manufacturing and selling this equipment outright, the company also leases units and provides installation and maintenance, keeping a service relationship with customers after the initial sale. Its home market is Japan, with a smaller and growing presence elsewhere in Asia.
How it makes money
Revenue comes from selling and leasing refrigeration and kitchen equipment to businesses that need it to store or display food, plus recurring fees for installation and maintenance of units already in the field. Because much of the customer base is small and mid-sized foodservice and retail operators, orders track how many restaurants and stores are opening, renovating or replacing aging equipment rather than any single large contract.
What drives demand
Moderately cyclicalDemand follows capital spending by restaurants, food retailers and convenience stores, which slows when consumer spending weakens but does not stop entirely since refrigeration is essential equipment that eventually needs replacing regardless of the economic cycle.
The case for
Buyers argue that a long-established position supplying Japan's dense restaurant and convenience-store market gives Daiwa a stable replacement-driven revenue base, and that leasing and maintenance revenue on equipment already installed cushions swings in new-unit sales.
The case against
Sellers fear that a shrinking and aging Japanese population reduces the long-run number of restaurants and stores that need this equipment, and that expansion into other Asian markets exposes the company to competitors and cost structures it has less experience managing.
Written by the editors, published on August 18, 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balance Sheet & Liquidity
Revenue
$12.19B
Trailing 12 months to the last reported quarter — estimated from per-share metrics
Net Income
$1.29B
Trailing 12 months to the last reported quarter — estimated from per-share metrics
Free Cash Flow
-
Total Equity
$274M
Total Liabilities
-
Current Ratio
3.07
Interest Coverage
-
Debt/EBITDA
-
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$336.62
Current Price
$134.60
Margin of Safety
+60.0%
Fair Value Range
$218.80 - $454.44
Estimation Methods
Valuation Metrics
P/E Ratio
1.29
ROE
29.5%
P/B Ratio
0.09
P/FCF
-
Gross Margin
55.6%
ROIC
-
Profitability Radar
Value Creation (Economic Moat)
ROIC
-
WACC
9.1%
ROIC − WACC
-
Fundamental Analysis Criteria
Passed (7)
- Gross Margin 55.6%
- P/B Ratio 0.09
- Operating Margin 15.6%
- Price below Graham Number
- Revenue Growth 5Y 18.7%
- PEG Ratio 1.58
- Net Margin Trend 7.3% vs 2.8%
Failed (4)
- Price CAGR -1.32%
- DCF valuation (Unknown)
- ROE 7.3%
- Piotroski F-Score 0/9
Unavailable (16)
- EPS data insufficient
- ROIC NaN%
- P/FCF NaN
- Dividend Payout NaN%
- Debt/Equity ratio
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- Analyst Consensus (Finnhub)
- Earnings Surprise (Finnhub)
- Earnings Quality (OCF/Net Income)
- Share Dilution (missing shares data)
Piotroski F-Score
Serious financial concerns
Earnings Quality
Low quality: investigate accounting
Share Dilution
Buying back shares. Shareholder friendly
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Volker Cwielong | CEO & Member of Executive Board | 48 |
| Dr. Judith van Walsum | CFO, Head of the Group Function Finance & Shared Services and Member of Executive Board | 61 |
| Mr. Michael Holler | COO, Head of Division Industrial & Member of Executive Board | 56 |
| Ms. Cindy Reiss-Clark | COO, Head of Division Healthcare & Member of Executive Board | 51 |
| Katharina Immoor | Senior Vice President of Corporate Communications & Investor Relations | - |
Audit Risk
8
Board Risk
9
Compensation Risk
5
Shareholder Rights Risk
9
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Latest News
Recent headlines for DAWIF, sourced from Markets Gazette.