Ajinomoto Co., Inc.

TSE:2802 Stock Report

Market Cap: JP¥2.8t

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 Fair 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.

Below Fair Value: 2802 (¥5442) is trading below our estimate of fair value (¥9456.54)

Significantly Below Fair Value: 2802 is trading below fair value by more than 20%.

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

2802 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.1x
Enterprise Value/EBITDA13.7x
PEG Ratio2.7x

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 Average19.5x
2801 Kikkoman
24.2x2.2%JP¥1.5t
2897 Nissin Foods HoldingsLtd
20.6x3.5%JP¥1.2t
2267 Yakult HonshaLtd
18.5x1.7%JP¥959.4b
2875 Toyo Suisan Kaisha
14.6x1.8%JP¥907.2b
2802 Ajinomoto
32.8x12.0%JP¥2.8t

Price-To-Earnings vs Peers: 2802 is expensive based on its Price-To-Earnings Ratio (32.8x) compared to the peer average (19.5x).

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
Industry Avg.n/a5.6%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a5.6%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: 2802 is expensive based on its Price-To-Earnings Ratio (32.8x) compared to the JP Food industry average (16x).

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 Ratio32.8x
Fair PE Ratio25.8x

Price-To-Earnings vs Fair Ratio: 2802 is expensive based on its Price-To-Earnings Ratio (32.8x) compared to the estimated Fair Price-To-Earnings Ratio (25.8x).

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¥5,442.00
JP¥6,378.46
+17.2%
13.1%JP¥7,700.00JP¥4,500.00n/a13
Sep ’25JP¥5,597.00
JP¥6,370.77
+13.8%
12.9%JP¥7,600.00JP¥4,500.00n/a13
Aug ’25JP¥6,239.00
JP¥6,385.38
+2.3%
12.3%JP¥7,300.00JP¥4,500.00n/a13
Jul ’25JP¥5,738.00
JP¥6,254.62
+9.0%
13.1%JP¥7,400.00JP¥4,500.00n/a13
Jun ’25JP¥5,605.00
JP¥6,112.31
+9.1%
14.3%JP¥7,300.00JP¥4,500.00n/a13
May ’25JP¥5,906.00
JP¥5,989.23
+1.4%
14.3%JP¥7,300.00JP¥4,500.00n/a13
Apr ’25JP¥5,632.00
JP¥5,973.08
+6.1%
14.7%JP¥7,300.00JP¥4,500.00n/a13
Mar ’25JP¥5,555.00
JP¥5,937.50
+6.9%
15.3%JP¥7,300.00JP¥4,500.00n/a12
Feb ’25JP¥6,012.00
JP¥5,858.33
-2.6%
15.0%JP¥7,100.00JP¥4,500.00n/a12
Jan ’25JP¥5,440.00
JP¥5,903.85
+8.5%
15.5%JP¥7,400.00JP¥4,500.00n/a13
Dec ’24JP¥5,533.00
JP¥6,075.00
+9.8%
14.8%JP¥7,400.00JP¥4,500.00n/a14
Nov ’24JP¥5,589.00
JP¥6,123.08
+9.6%
16.8%JP¥7,500.00JP¥4,500.00n/a13
Oct ’24JP¥5,764.00
JP¥5,780.77
+0.3%
15.4%JP¥7,300.00JP¥4,500.00n/a13
Sep ’24JP¥6,132.00
JP¥5,638.46
-8.0%
15.1%JP¥7,300.00JP¥4,400.00JP¥5,597.0013
Aug ’24JP¥5,599.00
JP¥5,469.23
-2.3%
16.7%JP¥7,000.00JP¥3,900.00JP¥6,239.0013
Jul ’24JP¥5,724.00
JP¥5,231.54
-8.6%
13.6%JP¥6,600.00JP¥3,900.00JP¥5,738.0013
Jun ’24JP¥5,476.00
JP¥4,970.00
-9.2%
10.3%JP¥5,560.00JP¥3,900.00JP¥5,605.0013
May ’24JP¥4,951.00
JP¥4,708.46
-4.9%
13.7%JP¥5,560.00JP¥3,500.00JP¥5,906.0013
Apr ’24JP¥4,606.00
JP¥4,643.08
+0.8%
12.8%JP¥5,500.00JP¥3,500.00JP¥5,632.0013
Mar ’24JP¥4,392.00
JP¥4,572.14
+4.1%
13.1%JP¥5,500.00JP¥3,500.00JP¥5,555.0014
Feb ’24JP¥4,117.00
JP¥4,586.43
+11.4%
12.6%JP¥5,210.00JP¥3,500.00JP¥6,012.0014
Jan ’24JP¥4,031.00
JP¥4,547.33
+12.8%
13.4%JP¥5,210.00JP¥3,200.00JP¥5,440.0015
Dec ’23JP¥4,501.00
JP¥4,376.67
-2.8%
11.8%JP¥5,100.00JP¥3,200.00JP¥5,533.0015
Nov ’23JP¥4,117.00
JP¥4,196.67
+1.9%
10.9%JP¥5,000.00JP¥3,200.00JP¥5,589.0015
Oct ’23JP¥3,962.00
JP¥4,150.00
+4.7%
10.6%JP¥5,000.00JP¥3,200.00JP¥5,764.0015
Sep ’23JP¥3,851.00
JP¥4,076.67
+5.9%
11.2%JP¥5,000.00JP¥3,200.00JP¥6,132.0015

Analyst Forecast: Target price is less than 20% higher than the current share price.

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