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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 30, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Market Capitalization	383,796	260,177	271,308	215,789	236,418	288,024
Market Cap Growth	57.82%	-4.10%	25.73%	-8.73%	-17.92%	39.26%
Enterprise Value	466,235	346,732	284,014	284,996	300,554	376,641
Last Close Price	4739.00	3045.59	2975.04	2227.28	2397.58	2628.81
PE Ratio	30.94	47.66	4.43	12.79	7.00	15.37
Forward PE	15.67	13.82	9.10	4.54	10.24	13.30
PS Ratio	0.68	0.46	0.50	0.41	0.47	0.49
PB Ratio	1.39	0.96	0.96	0.95	1.14	1.43
P/TBV Ratio	1.47	1.02	1.09	1.07	1.20	1.50
P/FCF Ratio	-	-	11.58	-	11.05	27.79
P/OCF Ratio	-	-	4.80	11.13	5.87	7.47
EV/Sales Ratio	0.82	0.62	0.52	0.54	0.60	0.65
EV/EBITDA Ratio	7.73	6.39	5.52	6.28	5.89	7.65
EV/EBIT Ratio	13.37	11.69	10.20	11.91	10.09	13.05
EV/FCF Ratio	-	-	12.12	-	14.05	36.35
Debt / Equity Ratio	0.43	0.39	0.31	0.45	0.43	0.52
Debt / EBITDA Ratio	1.98	1.93	1.69	2.23	1.75	2.12
Debt / FCF Ratio	-	-	3.70	-	4.17	10.06
Net Debt / Equity Ratio	0.28	0.28	0.08	0.35	0.32	0.42
Net Debt / EBITDA Ratio	1.29	1.40	0.43	1.77	1.29	1.73
Net Debt / FCF Ratio	-	-1.70	0.95	-391.40	3.07	8.21
Asset Turnover	1.03	1.03	1.04	1.11	1.10	1.31
Inventory Turnover	5.27	5.13	5.37	5.63	5.56	5.81
Quick Ratio	0.77	0.57	0.72	0.55	0.61	0.56
Current Ratio	1.36	1.16	1.19	1.14	1.15	1.07
Return on Equity (ROE)	-	1.68%	24.09%	7.82%	16.55%	9.82%
Return on Assets (ROA)	-	3.41%	3.31%	3.17%	4.08%	4.06%
Return on Invested Capital (ROIC)	4.89%	2.77%	6.30%	5.91%	7.47%	7.46%
Return on Capital Employed (ROCE)	8.80%	8.50%	7.50%	7.30%	9.40%	9.40%
Earnings Yield	3.30%	2.10%	22.60%	7.82%	14.29%	6.51%
FCF Yield	-	-17.17%	8.64%	-0.10%	9.05%	3.60%
Dividend Yield	2.03%	2.96%	2.02%	2.02%	1.67%	1.33%
Payout Ratio	-	165.07%	6.64%	21.43%	10.25%	15.84%
Buyback Yield / Dilution	3.28%	3.94%	2.76%	7.99%	0.72%	-0.02%
Total Shareholder Return	5.30%	6.89%	4.78%	10.01%	2.39%	1.31%

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