Trend Micro Past Earnings Performance
Past criteria checks 3/6
Trend Micro's earnings have been declining at an average annual rate of -2.6%, while the Software industry saw earnings growing at 12% annually. Revenues have been growing at an average rate of 10.1% per year. Trend Micro's return on equity is 26%, and it has net margins of 12.5%.
Key information
-2.57%
Earnings growth rate
-0.97%
EPS growth rate
| Software Industry Growth | 12.13% |
| Revenue growth rate | 10.10% |
| Return on equity | 26.01% |
| Net Margin | 12.51% |
| Next Earnings Update | 14 May 2026 |
Recent past performance updates
Recent updates
4704: AI Governance And Consumer Rebrand Will Shape Balanced Future Prospects
Analysts have trimmed their price target on Trend Micro from ¥7,068.75 to ¥6,231.25, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News Trend Micro is rebranding its consumer business as TrendLife, with a focus on protecting everyday digital activity as AI tools become more common in households, and plans to roll out its Kaleida AI companion for families to the public later in 2026 (Key Developments).4704: AI Governance Expansion Will Support Future Upside For Shares
Analysts have trimmed their price target on Trend Micro from ¥7,256.25 to ¥7,068.75, citing updated assumptions for revenue growth, profit margins, discount rate, and future P/E as they refresh their valuation work. What's in the News TrendAI, described as an enterprise AI security leader within Trend Micro, introduced the TrendAI Agentic Governance Gateway to give organizations visibility and control over autonomous AI agent interactions across data, tools, and environments, with capabilities such as policy enforcement, human oversight, simulation of governance decisions, and lifecycle management delivered through the TrendAI Vision One platform (Key Developments).4704: Buybacks And AI Security Expansion Will Support Further Share Upside
Analysts have nudged their price target on Trend Micro higher from about ¥7,161 to roughly ¥7,256. This reflects small model tweaks to fair value, discount rate, and assumed future P/E rather than any major shift in the underlying outlook.4704: Buybacks And 2026 Guidance Will Support Further Share Upside
Analysts have trimmed their price target on Trend Micro by about ¥400. This reflects slightly adjusted assumptions around fair value, discount rate, revenue growth and profit margins, while keeping expected future P/E broadly similar.4704: Buybacks And Higher 2026 Guidance Will Support Future Upside
Analysts have nudged their Trend Micro price target higher from ¥7,343.75 to roughly ¥7,583.33, citing updated assumptions around revenue growth, profit margins, and a slightly lower future P/E multiple. What's in the News Issued earnings guidance for 2026, with expected net sales of ¥301,500 million, operating income of ¥56,400 million, net income attributable to owners of the parent of ¥36,600 million, and net income per share of ¥280.07.4704: AI Cybersecurity Outlook And Share Buybacks Will Support Future Upside
Analysts have modestly trimmed their fair value estimate for Trend Micro to ¥7,343.75 from ¥7,464.29, citing slightly adjusted assumptions around the discount rate, revenue growth, profit margin, and future P/E. What's in the News Board meeting on November 12, 2025 approved a share repurchase of common stock, setting the framework for subsequent buyback activity (Key Developments).4704: AI Security And Share Buybacks Will Support Future Upside Potential
Analysts have trimmed their fair value estimate for Trend Micro from ¥7,950 to about ¥7,464, reflecting slightly softer assumptions on revenue growth and profit margins, along with a modestly higher future P/E multiple. What's in the News The board approved a share repurchase plan on November 12, 2025, authorizing the buyback of 1,670,000 shares, or 1.27% of share capital, for ¥10,000 million.4704: AI Security Expansion Will Drive Upside Despite Slightly Lower Fair Value Assumptions
Analysts have reduced their price target for Trend Micro from ¥8,416.67 to ¥7,950, citing slightly lower assumptions for fair value, revenue growth, profit margins, and future P/E multiples. What's in the News Board meeting scheduled for November 12, 2025 to consider and approve a repurchase of common shares, following authorization of a buyback plan that covers up to 1,670,000 shares (1.27% of share capital) for ¥10,000m through December 23, 2025 (Board Meeting, Buyback Transaction Announcements).4704: Expanding AI Security And Share Repurchases Will Drive Future Upside
Narrative Update on Trend Micro Analyst Price Target Analysts have modestly reduced their average price target on Trend Micro, cutting estimated fair value from approximately ¥9,150 to about ¥8,417. They are factoring in slightly higher discount rates, marginally lower long term profit margins, and a more conservative future price to earnings multiple, while revenue growth expectations remain stable.4704: Expanding AI Security Solutions Will Drive Future Equity Performance
Analysts have slightly lowered their price target for Trend Micro from ¥9,250 to ¥9,150. This change reflects modest adjustments in the discount rate and financial projections.4704: Expanded AI Offerings And New Partnerships Will Drive Profits Higher
Analysts have modestly raised their price target for Trend Micro to ¥9,250. This change reflects improved expectations for both revenue growth and profit margins.Trend Micro Incorporated Beat Analyst Estimates: See What The Consensus Is Forecasting For Next Year
Nov 16
4704: AI Integration And Data Center Security Will Drive Robust Momentum
Narrative Update on Trend Micro: Analyst Price Target Adjustment Analysts have maintained their price target for Trend Micro at ¥9,250. This reflects ongoing confidence in the company’s fundamentals without a significant shift in projected financial metrics.Leveraging Vision One And AI Will Offer Comprehensive Security Solutions
Analysts have modestly lowered their price target for Trend Micro, decreasing it from ¥9,371 to ¥9,250. They cited minor adjustments in valuation models and updated financial projections.Leveraging Vision One And AI Will Offer Comprehensive Security Solutions
Analysts have revised their price target for Trend Micro downward to approximately ¥9,371, a decrease of about ¥557. They cited slightly lower growth and profit margin projections as the reason for this adjustment.Leveraging Vision One And AI Will Offer Comprehensive Security Solutions
Trend Micro's consensus price target has been revised downward, primarily reflecting slightly softer revenue growth forecasts, with fair value lowered from ¥10,371 to ¥9,834. What's in the News Announced new agentic AI-powered SIEM designed to automate setup, cut alert noise, and enhance security with multi-source analytics, rapid onboarding, extended data retention, and integration with digital twin technology for proactive risk mitigation in complex environments.Investors Interested In Trend Micro Incorporated's (TSE:4704) Earnings
Aug 09Under The Bonnet, Trend Micro's (TSE:4704) Returns Look Impressive
Jul 22Estimating The Intrinsic Value Of Trend Micro Incorporated (TSE:4704)
Apr 25Trend Micro (TSE:4704) Is Very Good At Capital Allocation
Mar 10Earnings Update: Here's Why Analysts Just Lifted Their Trend Micro Incorporated (TSE:4704) Price Target To JP¥9,407
Feb 20Market Participants Recognise Trend Micro Incorporated's (TSE:4704) Earnings Pushing Shares 29% Higher
Feb 13
Unleashing Growth Through Subscription Shift And Global Expansion Strategy
Subscription model transition improves revenue stability and predicts higher margins, boosting recurring revenue growth.Trend Micro Incorporated Just Missed Earnings - But Analysts Have Updated Their Models
Nov 14Under The Bonnet, Trend Micro's (TSE:4704) Returns Look Impressive
Oct 06Why Investors Shouldn't Be Surprised By Trend Micro Incorporated's (TSE:4704) 29% Share Price Surge
Sep 07Trend Micro Incorporated's (TSE:4704) Popularity With Investors Is Under Threat From Overpricing
Mar 19Trend Micro Incorporated's (TSE:4704) Intrinsic Value Is Potentially 36% Above Its Share Price
Feb 29Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Trend Micro makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 275,984 | 34,523 | 154,490 | 0 |
| 30 Sep 25 | 272,733 | 34,882 | 155,500 | 0 |
| 30 Jun 25 | 272,013 | 30,799 | 155,459 | 0 |
| 31 Mar 25 | 274,208 | 32,462 | 157,840 | 0 |
| 31 Dec 24 | 272,638 | 34,358 | 159,551 | 0 |
| 30 Sep 24 | 267,624 | 24,343 | 158,695 | 0 |
| 30 Jun 24 | 263,689 | 16,770 | 158,172 | 0 |
| 31 Mar 24 | 255,918 | 15,111 | 155,455 | 0 |
| 31 Dec 23 | 248,691 | 10,731 | 152,426 | 0 |
| 30 Sep 23 | 245,420 | 14,157 | 150,251 | 0 |
| 30 Jun 23 | 238,029 | 26,737 | 148,856 | 0 |
| 31 Mar 23 | 232,072 | 27,686 | 145,968 | 0 |
| 31 Dec 22 | 223,795 | 29,843 | 138,154 | 0 |
| 30 Sep 22 | 213,279 | 41,189 | 127,412 | 0 |
| 30 Jun 22 | 204,332 | 36,826 | 116,714 | 0 |
| 31 Mar 22 | 196,192 | 38,094 | 109,153 | 0 |
| 31 Dec 21 | 190,359 | 38,367 | 104,700 | 0 |
| 30 Sep 21 | 186,212 | 33,593 | 99,735 | 0 |
| 30 Jun 21 | 181,579 | 28,282 | 97,782 | 0 |
| 31 Mar 21 | 176,530 | 26,847 | 95,210 | 0 |
| 31 Dec 20 | 174,061 | 26,904 | 96,430 | 0 |
| 30 Sep 20 | 171,291 | 24,604 | 97,742 | 0 |
| 30 Jun 20 | 169,546 | 29,426 | 97,383 | 0 |
| 31 Mar 20 | 167,848 | 29,908 | 96,371 | 0 |
| 31 Dec 19 | 165,195 | 27,946 | 95,209 | 0 |
| 30 Sep 19 | 163,367 | 29,627 | 92,376 | 0 |
| 30 Jun 19 | 162,380 | 28,491 | 92,770 | 0 |
| 31 Mar 19 | 161,889 | 28,628 | 92,900 | 0 |
| 31 Dec 18 | 160,410 | 28,314 | 91,844 | 0 |
| 30 Sep 18 | 159,005 | 26,186 | 91,893 | 0 |
| 30 Jun 18 | 155,662 | 27,784 | 87,950 | 0 |
| 31 Mar 18 | 151,554 | 26,846 | 86,699 | 0 |
| 31 Dec 17 | 148,811 | 25,691 | 84,231 | 0 |
| 30 Sep 17 | 147,474 | 31,453 | 81,082 | 0 |
| 30 Jun 17 | 141,656 | 27,414 | 79,517 | 0 |
| 31 Mar 17 | 137,324 | 24,417 | 76,961 | 0 |
| 31 Dec 16 | 131,936 | 24,651 | 74,535 | 0 |
| 30 Sep 16 | 124,962 | 18,004 | 73,598 | 0 |
| 30 Jun 16 | 124,568 | 19,603 | 73,327 | 0 |
| 31 Mar 16 | 124,286 | 21,594 | 71,697 | 0 |
| 31 Dec 15 | 124,317 | 21,435 | 72,069 | 0 |
| 30 Sep 15 | 122,863 | 22,957 | 68,149 | 0 |
| 30 Jun 15 | 120,548 | 21,983 | 65,875 | 0 |
Quality Earnings: 4704 has high quality earnings.
Growing Profit Margin: 4704's current net profit margins (12.5%) are lower than last year (12.6%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: 4704's earnings have declined by 2.6% per year over the past 5 years.
Accelerating Growth: 4704's earnings growth over the past year (0.5%) exceeds its 5-year average (-2.6% per year).
Earnings vs Industry: 4704 earnings growth over the past year (0.5%) did not outperform the Software industry 18.9%.
Return on Equity
High ROE: 4704's Return on Equity (26%) is considered high.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/02 19:46 |
| End of Day Share Price | 2026/05/01 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
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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
Trend Micro Incorporated is covered by 17 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Hideo Noda | CLSA |
| Sukshith Shetty | CrispIdea |
| Deepkumar Shah | CrispIdea |