Morinaga Milk Industry Ratios and Metrics

Market cap in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	May '26 May 22, 2026	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Market Capitalization	377,641	385,821	260,177	271,308	215,789	236,418
Market Cap Growth	36.10%	48.29%	-4.10%	25.73%	-8.73%	-17.92%
Enterprise Value	479,245	468,260	346,732	284,014	284,996	300,554
Last Close Price	4663.00	4764.00	3041.14	2970.69	2224.02	2394.07
PE Ratio	16.91	17.07	47.66	4.43	12.79	7.00
Forward PE	14.81	15.76	13.82	9.10	4.54	10.24
PS Ratio	0.66	0.68	0.46	0.50	0.41	0.47
PB Ratio	1.35	1.38	0.96	0.96	0.95	1.14
P/TBV Ratio	1.43	1.47	1.02	1.09	1.07	1.20
P/FCF Ratio	-	-	-	11.58	-	11.05
P/OCF Ratio	10.57	10.80	-	4.80	11.13	5.87
EV/Sales Ratio	0.84	0.82	0.62	0.52	0.54	0.60
EV/EBITDA Ratio	8.18	8.02	6.39	5.52	6.28	5.89
EV/EBIT Ratio	13.81	13.58	11.69	10.20	11.91	10.09
EV/FCF Ratio	-111.89	-	-	12.12	-	14.05
Debt / Equity Ratio	0.44	0.44	0.39	0.31	0.45	0.43
Debt / EBITDA Ratio	2.10	2.10	1.93	1.69	2.23	1.75
Debt / FCF Ratio	-	-	-	3.70	-	4.17
Net Debt / Equity Ratio	0.35	0.35	0.28	0.08	0.35	0.32
Net Debt / EBITDA Ratio	1.66	1.66	1.40	0.43	1.77	1.29
Net Debt / FCF Ratio	-22.56	-22.56	-1.70	0.95	-391.40	3.07
Asset Turnover	1.07	1.07	1.03	1.04	1.11	1.10
Inventory Turnover	4.76	4.76	5.13	5.37	5.63	5.56
Quick Ratio	0.66	0.66	0.57	0.72	0.55	0.61
Current Ratio	1.38	1.38	1.16	1.19	1.14	1.15
Return on Equity (ROE)	8.27%	8.27%	1.68%	24.09%	7.82%	16.55%
Return on Assets (ROA)	4.04%	4.04%	3.41%	3.31%	3.17%	4.08%
Return on Invested Capital (ROIC)	6.67%	6.73%	2.77%	6.30%	5.91%	7.47%
Return on Capital Employed (ROCE)	8.70%	8.70%	8.50%	7.50%	7.30%	9.40%
Earnings Yield	5.98%	5.86%	2.10%	22.60%	7.82%	14.29%
FCF Yield	-1.13%	-1.11%	-17.17%	8.64%	-0.10%	9.05%
Dividend Yield	2.07%	-	2.96%	2.02%	2.02%	1.67%
Payout Ratio	33.06%	33.06%	165.07%	6.64%	21.43%	10.25%
Buyback Yield / Dilution	3.14%	3.14%	3.94%	2.76%	7.99%	0.72%
Total Shareholder Return	5.17%	3.14%	6.90%	4.78%	10.01%	2.39%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.