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Ajinomoto Co., Inc. 2802.T

JP · Tokyo Stock Exchange · XTKS · stock · Consumer Defensive · website

Ajinomoto Co., Inc. statistics & valuation

Market cap¥5.89T
P / E43.8×
P / S3.7×
P / B7.6×
Net margin8.5%
Net debt¥314.7B
Enterprise value USD$38.5B
Earnings yield EBIT/EV3.1%
Return on capital14%
Graham number -74.3%¥1,584.44

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (¥1,584.44); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
6.90% 6.10% 4.60% 8.50% 2023202420252026
Gross margin (%)
34.60% 35.50% 36.00% 37.70% 2023202420252026
Operating margin (%)
10.60% 9.90% 7.00% 12.10% 2023202420252026
Return on equity (%)
12.20% 10.70% 9.40% 17.50% 2023202420252026
Shares outstanding
955.9M 955.9M 955.9M 955.9M 2023202420252026
Net debt (¥)
¥155.79B ¥270.96B ¥290.58B ¥314.66B 2023202420252026
Share buybacks (¥)
¥30.02B ¥91.34B ¥90.69B 2023202420252026
Return on assets (%)
6.20% 4.90% 4.10% 7.40% 2023202420252026
Free cash flow margin (%)
3.30% 6.70% 7.50% 2023202420252026
Debt / equity (×)
0.38× 0.54× 0.61× 0.55× 2023202420252026
EPS (¥)
¥87.98 ¥41.85 ¥69.77 ¥138.36 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Ajinomoto Co., Inc. trades at about 44.6× earnings — near its 10-year norm (10-year range 27.8×–70.2×, median 41.8×).

27.8× 70.2×

Shaded band = 10-year range (27.8×–70.2×); dot = today's 44.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin37.7%36.0%35.5%34.6%
Operating margin12.1%7.0%9.9%10.6%
Net margin8.5%4.6%6.1%6.9%
FCF margin7.5%6.7%3.3%
Return on assets7.4%4.1%4.9%6.2%
Return on equity17.5%9.4%10.7%12.2%
Debt / equity0.49×0.56×0.31×0.31×
Current ratio1.571.821.411.81

Computed from company filings · JP · as of 2026-03-31. Figures in JPY. Facts plus Stocktoria's own computed scores — not investment advice.