Pricing Log in Create free account
Sunday 18 October 2026 Export AJNMY’s income statement to Excel — free account

Ajinomoto Co.

AJNMY

Ajinomoto Co.’s revenue for fiscal 2026 (year ended March 2026) was $10.5 billion, up 3.47% from fiscal 2025. In the quarter to June 2026, revenue grew 4.84%, EPS grew 20.0% and free cash flow fell 187.7%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.

33.18 0.32 −0.96%
Market cap
—
P/E
41.0×
Fwd P/E
—
Dividend yield
—
F-score
8/9
Altman Z
4.44
Beneish M
−2.67
Dividend safety
70/100
Overview Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership —

Capital & Financial Ratios $m

Market Cap —
Revenue 9,925.67
Net Income 1,781.27
Free Cash Flow 752.50
Net Debt 1,176.09
Current Ratio 1.45
Debt/Equity 0.50 (at or below 0.5: strong)
P/E ratio 40.96 (above 35: high)
Fwd P/E —
P/S ratio 3.20
P/B ratio 5.94
Past 5Y EPS Growth 12.52%
This Y EPS Growth —
Next Y EPS Growth —
Next Y revenue growth —
Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.3×, against a ten-year median of 1.5×; over the ten years it ranged from 1.0× in 2019 to 3.6× in 2026.
P/E against its own 10 years 96.54%
10-year low 10-year high
P/S against its own 10 years 97.24%
10-year low 10-year high
P/B against its own 10 years 97.31%
10-year low 10-year high
EV/Sales against its own 10 years 97.16%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 1,340 1,206 1,012 1,482
Receivables 1,436 1,232 1,332 1,344
Inventory 1,981 1,894 2,103 2,203
Other 140 296 200 217
4,896 4,629 4,648 5,247
2024 2025 2026 Q'26
Payables 1,601 1,588 2,006 1,851
ST’ Debt 933 258 267 259
Other 195 249 227 214
3,460 2,538 2,964 3,625

Compound Annual Growth %

10y 5y 3y
Sales 0.60% 0.75% 1.29%
Cash Flow 4.28% 0.29% 21.97%
Earnings 5.35% 9.74% 8.49%
Book Value (0.36%) (2.36%) (2.92%)

Revenue $m

Mar Jun Sep Dec Year
’26 — 2,596 — — —
’26 — 2,512 — — 10,453
’25 — 2,339 — — 10,102
’24 — 2,479 — — 9,931
’23 — 2,476 — — 10,057
’22 — 2,515 — — 10,229
’21 — 2,306 — — 10,072
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 — 116 — — —
’26 — 210 424 1,068 1,580
’25 — 244 — — 1,385
’24 — — — — 1,160
’23 — — — — 871
’22 — — — — 1,296
’21 — — — — 1,557
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 — (92) — — —
’26 — 1 270 574 1,194
’25 — 105 — — 770
’24 — — — — 757
’23 — — — — 628
’22 — — — — 735
’21 — — — — 910
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 — 0.24 — — —
’26 — 0.23 — — 0.92
’25 — 0.15 — — 0.46
’24 — 0.19 — — 0.58
’23 — 0.20 — — 0.65
’22 — 0.19 — — 0.62
’21 — 0.19 — — 0.51
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 8.73 7.74 7.26 7.36 9.75 10.97 14.49 17.14 16.50 20.97

Analyst estimates 2027–2029

Powerpack
High 11.53 9.91 9.54 11.68 16.57 17.14 21.36 22.42 30.49 39.50
People
People Employees 32,734 34,452 34,504 32,509 32,509 33,461 34,615 34,862 34,860 34,787
Revenue/emp, $m 0.31 0.30 0.29 0.31 0.31 0.31 0.29 0.28 0.29 0.30
Income, $m
Income, $m Revenue 10,150 10,352 10,147 10,120 10,072 10,229 10,057 9,931 10,102 10,453
Gross margin, % 35.47 34.55 35.09 36.71 37.91 37.05 34.61 35.54 35.98 37.71
EBT 792 769 488 449 924 1,090 1,036 980 715 1,294
EBT margin, % 7.80 7.43 4.81 4.44 9.18 10.66 10.30 9.87 7.08 12.38
Net income 792 769 488 449 924 1,090 1,036 980 715 1,294
Depreciation 498 466 472 570 593 589 531 540 571 587
Per share, $
Per share, $ Revenue 8.88 9.10 9.16 9.23 9.18 9.42 9.41 9.54 10.03 10.74
Earnings 0.43 0.48 0.25 0.16 0.51 0.62 0.65 0.58 0.46 0.92
Cash flow 0.88 1.00 1.00 0.96 1.42 1.19 0.81 1.11 1.38 1.62
Capex (0.65) (0.59) (0.61) (0.68) (0.59) (0.52) (0.23) (0.39) (0.61) (0.40)
Free cash flow 0.23 0.41 0.39 0.29 0.83 0.68 0.59 0.73 0.76 1.23
Book value 5.67 5.70 5.57 4.97 5.72 6.06 5.70 5.86 5.33 5.72
Shares, m 1,144 1,137 1,108 1,096 1,097 1,086 1,069 1,041 1,007 973
Valuation, ×
Valuation, × P/E 29.82 23.24 35.47 19.79 18.46 22.97 24.80 24.29 27.31 36.66
P/S 1.13 1.02 0.92 1.08 1.18 1.60 1.94 2.00 2.06 2.84
P/B 1.93 1.59 1.38 1.70 2.00 2.54 3.05 3.15 3.54 5.24
EV/Sales 1.22 1.16 1.08 1.23 1.35 1.72 2.06 2.08 2.18 2.99
EV/FCF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 30.86
Cash, $m
Cash, $m Operating cash flow 1,005 1,140 1,109 1,057 1,557 1,296 871 1,160 1,385 1,580
Capex (742) (668) (680) (743) (647) (560) (243) (402) (616) (386)
Free cash flow 262 471 429 314 910 735 628 757 770 1,194
Balance, $m
Balance, $m Working capital 3,117 2,915 2,695 1,871 2,339 2,285 2,042 1,436 2,090 1,684
Total debt 3,084 3,026 2,976 2,916 3,012 2,794 2,135 2,688 3,005 2,781
Net debt 1,362 1,240 1,444 1,530 1,191 1,287 1,062 1,348 1,799 1,769
Shareholders’ equity 6,489 6,485 6,174 5,447 6,278 6,584 6,090 6,100 5,368 5,572
Returns, %
Returns, % ROA 4.27 4.33 2.11 1.39 4.31 5.10 5.76 5.13 3.93 7.62
ROIC 6.32 6.80 7.33 4.02 7.95 8.80 9.63 8.49 6.56 11.21
ROE 7.97 8.43 4.22 2.98 9.53 10.48 10.98 9.86 8.09 16.25
Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Charts ten years each

Ajinomoto Co. vs peers (Q) = latest quarter vs a year earlier

No peers yet.

Ajinomoto Co. (AJNMY) key facts

  • Strength: Ajinomoto Co.’s revenue for fiscal 2026 (year ended March 2026) was $10.5 billion, up 3.47% from fiscal 2025.
  • Strength: Net income was $1.3 billion, or $0.92 per share (basic), a net margin of 8.50%.
  • Return on equity was 16.3% and debt-to-equity 0.50.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 4.44 (safe zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

Ajinomoto Co. (AJNMY) Latest News

17 Oct

Impact 4 ·

16 Sep

Impact 3 ·

18 Aug

Impact 4 ·

7 Aug

Impact 4 · transcript

16 Jul

Impact 4 ·

13 May

Impact 3 ·

31 Mar

Impact 4 ·
Impact 4 ·
stockrow.com/AJNMY · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com