Ajinomoto Co., Inc.

TSE:2802 Stock Report

Market Cap: JP¥3.2t

Ajinomoto Valuation

Is 2802 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of 2802 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

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Learn how to determine fair value like the best investors in the world.

Below Fair Value: 2802 (¥3411) is trading below our estimate of fair value (¥3927.58)

Significantly Below Fair Value: 2802 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2802?

Key metric: As 2802 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2802. This is calculated by dividing 2802's market cap by their current earnings.
What is 2802's PE Ratio?
PE Ratio46.1x
EarningsJP¥71.29b
Market CapJP¥3.22t

Price to Earnings Ratio vs Peers

How does 2802's PE Ratio compare to its peers?

The above table shows the PE ratio for 2802 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.3x
2801 Kikkoman
22.3x4.35%JP¥1.3t
2875 Toyo Suisan Kaisha
16.6x3.62%JP¥1.1t
2269 Meiji Holdings
21x7.37%JP¥955.4b
2897 Nissin Foods HoldingsLtd
17.3x4.43%JP¥839.6b
2802 Ajinomoto
46.1x15.79%JP¥3.3t

Price-To-Earnings vs Peers: 2802 is expensive based on its Price-To-Earnings Ratio (46.1x) compared to the peer average (19.3x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does 2802's PE Ratio compare vs other companies in the JP Food Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
2802 46.1xIndustry Avg. 16.7xNo. of Companies17PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2802 is expensive based on its Price-To-Earnings Ratio (46.1x) compared to the JP Food industry average (16.7x).

Price to Earnings Ratio vs Fair Ratio

What is 2802's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2802 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio46.1x
Fair PE Ratio30.9x

Price-To-Earnings vs Fair Ratio: 2802 is expensive based on its Price-To-Earnings Ratio (46.1x) compared to the estimated Fair Price-To-Earnings Ratio (30.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 2802 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥3,406.00
JP¥4,220.83
+23.92%
10.37%JP¥5,000.00JP¥3,500.00n/a12
Jan ’27JP¥3,317.00
JP¥4,220.83
+27.25%
10.37%JP¥5,000.00JP¥3,500.00n/a12
Dec ’26JP¥3,557.00
JP¥4,270.83
+20.07%
11.71%JP¥5,000.00JP¥3,500.00n/a12
Nov ’26JP¥4,373.00
JP¥4,450.00
+1.76%
11.98%JP¥5,100.00JP¥3,500.00n/a11
Oct ’26JP¥4,245.00
JP¥4,304.55
+1.40%
11.66%JP¥4,800.00JP¥3,500.00n/a11
Sep ’26JP¥4,019.00
JP¥4,185.00
+4.13%
12.69%JP¥4,800.00JP¥3,300.00n/a10
Aug ’26JP¥4,058.00
JP¥3,950.00
-2.66%
10.65%JP¥4,700.00JP¥3,300.00n/a10
Jul ’26JP¥3,906.00
JP¥3,845.00
-1.56%
11.04%JP¥4,700.00JP¥3,000.00n/a10
Jun ’26JP¥3,612.00
JP¥3,740.91
+3.57%
11.94%JP¥4,600.00JP¥3,000.00n/a11
May ’26JP¥2,975.00
JP¥3,554.62
+19.48%
10.34%JP¥4,300.00JP¥3,000.00n/a13
Apr ’26JP¥2,963.00
JP¥3,479.23
+17.42%
11.66%JP¥4,250.00JP¥2,700.00n/a13
Mar ’26JP¥3,002.50
JP¥3,536.15
+17.77%
11.53%JP¥4,250.00JP¥2,700.00n/a13
Feb ’26JP¥3,122.50
JP¥3,516.92
+12.63%
10.99%JP¥4,100.00JP¥2,700.00n/a13
Jan ’26JP¥3,226.00
JP¥3,327.69
+3.15%
12.21%JP¥4,000.00JP¥2,650.00JP¥3,317.0013
Dec ’25JP¥3,141.00
JP¥3,275.83
+4.29%
11.81%JP¥4,000.00JP¥2,650.00JP¥3,557.0012
Nov ’25JP¥2,887.50
JP¥3,240.42
+12.22%
10.76%JP¥3,850.00JP¥2,650.00JP¥4,373.0012
Oct ’25JP¥2,766.00
JP¥3,252.92
+17.60%
10.83%JP¥3,850.00JP¥2,650.00JP¥4,245.0012
Sep ’25JP¥2,798.50
JP¥3,185.38
+13.82%
12.91%JP¥3,800.00JP¥2,250.00JP¥4,019.0013
Aug ’25JP¥3,119.50
JP¥3,192.69
+2.35%
12.29%JP¥3,650.00JP¥2,250.00JP¥4,058.0013
Jul ’25JP¥2,869.00
JP¥3,127.31
+9.00%
13.07%JP¥3,700.00JP¥2,250.00JP¥3,906.0013
Jun ’25JP¥2,802.50
JP¥3,056.15
+9.05%
14.35%JP¥3,650.00JP¥2,250.00JP¥3,612.0013
May ’25JP¥2,953.00
JP¥2,994.62
+1.41%
14.29%JP¥3,650.00JP¥2,250.00JP¥2,975.0013
Apr ’25JP¥2,816.00
JP¥2,986.54
+6.06%
14.74%JP¥3,650.00JP¥2,250.00JP¥2,963.0013
Mar ’25JP¥2,777.50
JP¥2,968.75
+6.89%
15.33%JP¥3,650.00JP¥2,250.00JP¥3,002.5012
Feb ’25JP¥3,006.00
JP¥2,929.17
-2.56%
14.97%JP¥3,550.00JP¥2,250.00JP¥3,122.5012
Jan ’25JP¥2,720.00
JP¥2,951.92
+8.53%
15.45%JP¥3,700.00JP¥2,250.00JP¥3,226.0013
JP¥4.22k
Fair Value
19.2% undervalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/01/14 14:08
End of Day Share Price 2026/01/14 00:00
Earnings2025/09/30
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Ajinomoto Co., Inc. is covered by 29 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Takayuki HayanoBarclays
Hao DaiBernstein
Euan Grant McleishBernstein