Valuation Morinaga Milk Industry Co., Ltd.

Stocks

Market Closed - Japan Exchange Other stock markets 02:30:00 2026-06-11 am EDT			5-day change	1st Jan Change
5,194.00 ^JPY	-1.40%		+5.44%	+39.47%

May. 13	Morinaga Milk Industry Co Ltd - to conduct 4-for-1 stock split for shareholders as of June 30	RE
May. 13	Morinaga Milk Industry Co., Ltd. Reports Earnings Results for the Full Year Ended March 31, 2026	CI

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	288,024	236,418	215,789	271,308	260,177	419,123	-	-
Change	-	-17.92%	-8.73%	25.73%	-4.1%	61.09%	-	-
Enterprise Value (EV) ¹	373,050	299,851	293,074	293,598	336,349	498,072	522,855	528,180
Change	-	-19.62%	-2.26%	0.18%	14.56%	48.08%	4.98%	1.02%
P/E Ratio	15.4x	7.61x	12.8x	4.49x	48.2x	17.3x	17.5x	15x
PBR	1.44x	1.15x	0.97x	0.98x	0.98x	1.4x	1.45x	1.39x
PEG	-	0.1x	-0.3x	0x	-0.5x	0x	0.9x	0.9x
Capitalization / Revenue	0.49x	0.47x	0.41x	0.5x	0.46x	0.68x	0.71x	0.69x
EV / Revenue	0.64x	0.6x	0.56x	0.54x	0.6x	0.87x	0.88x	0.87x
EV / EBITDA	7.56x	5.89x	6.45x	5.81x	6.33x	8.5x	8.35x	7.72x
EV / EBIT	12.9x	10.1x	12.2x	10.5x	11.3x	14.5x	14.2x	12.7x
EV / FCF	28.2x	6.16x	-48.2x	3.59x	-7.65x	-285x	-523x	42.1x
FCF Yield	3.55%	16.2%	-2.07%	27.9%	-13.1%	-0.35%	-0.19%	2.38%
Dividend per Share ²	35	40	45	60	90	100	108	128.8
Rate of return	1.2%	1.53%	1.89%	1.92%	2.89%	2.1%	2.08%	2.48%
EPS ²	189.4	343.7	186.6	696.9	64.6	276	297.3	346.9
Distribution rate	18.5%	11.6%	24.1%	8.61%	139%	36.2%	36.3%	37.1%
Net sales ¹	583,550	503,354	525,603	547,059	561,173	571,458	593,210	605,822
EBITDA ¹	49,351	50,894	45,425	50,504	53,172	58,628	62,609	68,390
EBIT ¹	28,867	29,792	23,939	27,839	29,658	34,479	36,713	41,594
Net income ¹	18,741	33,782	16,875	61,307	5,459	22,599	23,923	27,404
Net Debt ¹	85,026	63,433	77,285	22,290	76,172	78,949	103,732	109,058
Reference price ²	2,910.00	2,615.00	2,385.00	3,126.00	3,115.00	5,194.00	5,194.00	5,194.00
Nbr of stocks (in thousands)	98,977	90,408	90,477	86,791	83,524	80,694	-	-
Announcement Date	5/13/21	5/13/22	5/15/23	5/14/24	5/13/25	5/13/26	-	-

¹JPY in Million²JPY

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (N)	EV / Sales (N)	EV / EBITDA (N)	Dividend Yield (N)	Capi.($)
MORINAGA MILK INDUSTRY CO., LTD.	21.17x	0.88x	8.6x	1.82%	2.65B
NESTLÉ S.A.	19.85x	2.88x	14.16x	3.94%	257B
MONDELEZ INTERNATIONAL, INC.	22.03x	2.57x	15.12x	3.21%	82.38B
DANONE	17.53x	1.79x	10.07x	3.53%	49.07B
ARCHER-DANIELS-MIDLAND COMPANY	17.87x	0.54x	10.49x	2.55%	39.17B
THE HERSHEY COMPANY	22x	3.26x	13.26x	3.27%	35.82B
NESTLÉ INDIA LIMITED	70.3x	10.49x	44.58x	1.08%	29.11B
AJINOMOTO CO., INC.	35.3x	3.08x	17.16x	1.01%	28.2B
KRAFT HEINZ	11.48x	1.88x	9.26x	6.67%	28.52B
BUNGE GLOBAL SA	14.73x	0.41x	9.48x	2.23%	24.88B
Average	25.23x	2.78x	15.22x	2.93%	57.68B
Weighted average by Cap.	22.63x	2.84x	14.86x	3.43%