FANUC vs Keyence: Revenue, Profit and Business Model
FANUC reported ~$5.7B of revenue in FY2025 and ~$1.1B of net income. Keyence reported ~$7.8B of revenue in FY2026 and ~$3B of net income.
Latest financial snapshot
Financial summary
FANUC
FANUC is consistently profitable for a capital-equipment maker. In FY2025 (ended March 2026) it earned ~$1.23 billion (¥183.8 billion) of operating income on ~$5.75 billion (¥857.8 billion) of sales, a margin of about 21%, and ordinary income of ~$1.52 billion (¥227.5 billion), helped by interest and investment income on its large cash holdings. The April 2026 plan called for FY2026 sales of ~$6.09 billion (¥909.6 billion) and operating income of ~$1.42 billion (¥212.2 billion); after Q1 sales of ~$1.55 billion (¥231.0 billion) and operating income of ~$358 million (¥53.5 billion) (about a 23% margin), FANUC raised sales guidance by 4.2% and operating-profit guidance by 2.7%.
Keyence
Keyence's net sales rose from ~$5.06 billion (JPY 755.2 billion) in FY2022 (year ended March 2022) to ~$7.83 billion (JPY 1.169 trillion) in FY2026, a gain of about 55% in four years. FY2026 operating income was ~$3.99 billion (JPY 595.8 billion) and net income ~$2.98 billion (JPY 445.2 billion). Growth sped up at the start of FY2027: for the quarter ended June 20, 2026, net sales rose 32.8% year on year to ~$2.32 billion (JPY 346.6 billion) and net income rose 51.0% to ~$932 million (JPY 139.1 billion). The company carries essentially no interest-bearing debt and holds large cash and securities balances. Its market value was about $122.6 billion at the end of September 2026.
Revenue and profit by year
Where the revenue comes from
FANUC
- FA and CNC Systems
Major product pillar
Sales of CNC controls, servo systems, and factory automation components to machine-tool builders and industrial customers.
- Robotics
Major product pillar
Industrial robot hardware, controllers, software, and integration support for manufacturing and logistics applications.
- Robomachines
Cyclical product pillar
ROBODRILL, ROBOSHOT, and ROBOCUT products used for machining, injection molding, and precision wire EDM.
- Service, Parts, and Software
Recurring support stream
Lifecycle service, spare parts, training, and factory connectivity tied to FANUC's installed base.
Keyence
- Factory Automation Sensors and Controls
core business
Keyence sells high-margin sensors, safety products, PLC-related equipment, and controls directly to factories seeking quality, productivity, and automation gains.
- Machine Vision and Measurement
major product family
Machine vision systems, measuring instruments, microscopes, and inspection tools support manufacturing quality control and application engineering demand.
- Laser Markers and Code Readers
specialized automation tools
Laser marking, barcode, and traceability products serve factories, logistics operations, electronics plants, and regulated manufacturing lines.
Business model and strategy
FANUC
How it makes money
FANUC makes money by selling factory automation hardware and then supporting it for decades. Revenue comes from three product groups plus service: FA (CNC controls, servo motors, amplifiers, and lasers sold mainly to machine-tool builders), Robot (industrial robots and CRX collaborative robots sold to automakers, electronics makers, logistics firms, and integrators), and Robomachine (ROBODRILL machining centers, ROBO…
Growth strategy
FANUC's growth plan pushes automation into general industry such as food, logistics, and pharmaceuticals using CRX collaborative robots that are programmed through a tablet.
Competitive advantage
FANUC's advantage is a large installed base combined with in-house engineering. Machinists and maintenance teams worldwide are trained on FANUC CNC programming and robot controllers, so switching platforms means retraining staff, rewriting programs, and re-stocking spare parts.
Keyence
How it makes money
Keyence makes money by selling high-value factory automation hardware directly to manufacturers. Products include photoelectric and laser sensors, machine vision systems, measuring instruments, digital microscopes, laser markers, barcode readers, and PLC-related controls. Keyence designs the products and outsources physical production to contract manufacturers, which keeps capital spending and fixed costs low.
Growth strategy
Keyence grows by opening more overseas sales offices, hiring and training more local sales engineers, and launching new products in categories where it can solve a problem better than existing tools. Sales outside Japan are now the majority of revenue. Recent product work focuses on AI-assisted image inspection, 3D measurement, and easier-to-configure vision systems that factory staff can set up without writing code.
Competitive advantage
Keyence's advantage comes from combining a direct, engineer-led sales force with fabless production. Sales engineers see customer problems first-hand and feed them back to product planning, which lets Keyence launch specialized products and price them on the value they create rather than on cost.
Questions about FANUC vs Keyence
Which company has higher revenue — FANUC Corporation or Keyence Corporation?
FANUC Corporation reported ~$5.7B (FY2025), while Keyence Corporation reported ~$7.8B (FY2026). By last reported revenue, Keyence Corporation is the larger business, with FANUC Corporation reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of FANUC Corporation vs Keyence Corporation?
Keyence Corporation has a market capitalisation of $122.6B. A public market cap figure for FANUC Corporation was not available (it may be privately held).
Which is more financially efficient — FANUC Corporation or Keyence Corporation?
FANUC Corporation generates $572k / employee in revenue per employee, while Keyence Corporation generates $613k / employee. Keyence Corporation shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do FANUC Corporation and Keyence Corporation make money?
FANUC Corporation and Keyence Corporation generate revenue in fundamentally different ways. FANUC Corporation: FANUC makes money by selling factory automation hardware and then supporting it for decades. Keyence Corporation: Keyence makes money by selling high-value factory automation hardware directly to manufacturers.
Is FANUC Corporation bigger than Keyence Corporation?
By last reported revenue, Keyence Corporation (~$7.8B (FY2026)) is the larger company compared to FANUC Corporation (~$5.7B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the FANUC vs Keyence overview