Obermatt

Morinaga Milk Industry

TYO:2264 · JP3926800008
Food ProductsLarge

360

19
EV / EBIT30
Price / Owner Earnings5
Owner Earnings Yield19
Dividend Yield65
Price/Sales50
EV / Gross Profit61
Price/Book43
Return on Capital38
Cash Return on Capital19
Return on Equity46
EBIT Margin28
Gross Profitability53
Cash Conversion41
Accruals24
Owner Earnings Margin19
Sales growth44
Profit Growth94
Long-Term EPS Growth69
Reinvestment74
Price momentum95
Debt load53
Refinancing26
Debt Payback15
Liquidity82
Analyst ratings71
Opinion Changes88
Price Target Upside42
Market mood82
Value Creation10/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Morinaga Milk Industry clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Based on 3/5 components.

Profile

CountryJapan
IndustryFood Products
SizeLarge
TypePublic Company
ExchangeTSE
Founded1949
Employees36
ISINJP3926800008
Last UpdateApr 2, 2026
Index & Theme
NutraceuticalCoffeeFast-Moving Consumer GoodsFood and BeverageManufacturing

Description

Morinaga Milk Industry Co., Ltd., together with its subsidiaries, engages in the production and sale of various dairy products. The company’s overseas subsidiaries include NutriCo Morinaga Pvt. Ltd. (Pakistan), Morinaga Nutritional Foods Vietnam Joi…

Analysis

Story stock

Morinaga Milk Industry Co., Ltd. is a story stock: the narrative is ambitious and the price reflects it, but the underlying numbers are weak.

The price is expensive. You pay 58.9× its owner earnings: the cash an owner could take out each year, which is in the historically expensive zone. At today's price, the market is assuming roughly 21% yearly growth; analysts expect 9%. The market is pricing in far more than analysts expect: heroic expectations.

The trajectory is solid and the balance sheet is adequate. The company scores 10/20 on our value-creation score: creating some value.

Nothing is flagged here: no red or amber gates, no divergence between profits and cash. That is itself information: the numbers are straightforward. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
98
2023202420252026

All-time high

100

Jan 2023

All-time low

12

Jan 2025

Average rank

75

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
50
61
64
61
Price/Earnings
44
59
97
87
Price/Book
43
64
91
69
Dividend Yield
65
71
77
39
Value (overall)
47
65
92
73

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →