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Asahi Group Holdings
(2502)
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Rating:63Neutral
Price Target:
¥1,768.00
▲(8.97% Upside)
Action:Reiterated
Date:07/09/26
The score is held back primarily by weaker 2025 fundamentals—especially the sharp deterioration in operating cash flow and free cash flow turning negative, alongside softer net profitability and a slight revenue decline. These concerns are partially offset by a materially stronger balance sheet (much lower leverage), constructive technical momentum (price above key moving averages with positive MACD), and supportive income characteristics from a ~3.1% dividend yield with a mid-range P/E.
Positive Factors
Balance Sheet Strength
Material decline in leverage to ~0.28 and rising equity provides durable financial flexibility. A conservative capital structure reduces refinancing and default risk, supports investment or M&A optionality, and cushions profitability volatility over the next several quarters.
Negative Factors
Sharp Cash-Flow Deterioration
A pronounced reversal in operating cash flow and a move to negative free cash flow weakens the company's ability to fund capex, dividends, and organic growth without tapping reserves or raising debt, raising medium-term execution and liquidity risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Material decline in leverage to ~0.28 and rising equity provides durable financial flexibility. A conservative capital structure reduces refinancing and default risk, supports investment or M&A optionality, and cushions profitability volatility over the next several quarters.
Read all positive factors
Asahi Group Holdings (2502) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥2.44T
Dividend Yield3.23%
Average Volume (3M)6.75M
Price to Earnings (P/E)19.5
Beta (1Y)0.44
Revenue Growth-1.52%
EPS Growth-35.83%
CountryJP
Employees28,173
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Alcoholic
Share Statistics
EPS (TTM)81.28
Shares Outstanding1,521,010,100
10 Day Avg. Volume8,504,770
30 Day Avg. Volume6,753,146
Financial Highlights & Ratios
PEG Ratio-0.56
Price to Book (P/B)0.82
Price to Sales (P/S)0.85
P/FCF Ratio-130.96
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥1,933.33Price Target Upside19.16% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)125.25
Revenue Forecast (FY)¥3.14T
Asahi Group Holdings Business Overview & Revenue Model
Company Description
Asahi Group Holdings, Ltd. is a Japanese conglomerate that globally produces and distributes a wide array of alcoholic and non-alcoholic beverages, along with various food products. The company's business activities are structured across several d...
How the Company Makes Money
Asahi Group Holdings makes money primarily by selling branded beverages, with revenue recognized from shipments and sales through multiple channels. Its core revenue stream is alcoholic beverages—most notably beer and other alcohol categories—sold...
Asahi Group Holdings Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
74
Positive
Cash Flow
38
Negative
| Breakdown | Jun 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.89T | 2.94T | 2.77T | 2.51T | 2.24T |
| Gross Profit | 1.09T | 1.01T | 923.66B | 852.39B | 785.24B |
| EBITDA | 426.08B | 443.75B | 404.53B | 362.08B | 350.38B |
| Net Income | 121.57B | 192.08B | 164.07B | 151.56B | 153.50B |
Balance Sheet | |||||
| Total Assets | 6.03T | 5.40T | 5.29T | 4.83T | 4.55T |
| Cash, Cash Equivalents and Short-Term Investments | 156.38B | 83.96B | 59.95B | 37.44B | 52.74B |
| Total Debt | 1.64T | 1.39T | 1.52T | 1.64T | 1.69T |
| Total Liabilities | 3.02T | 2.73T | 2.82T | 2.77T | 2.79T |
| Stockholders Equity | 3.00T | 2.67T | 2.46T | 2.06T | 1.76T |
Cash Flow | |||||
| Free Cash Flow | -18.72B | 295.40B | 257.97B | 182.94B | 257.01B |
| Operating Cash Flow | 104.82B | 403.72B | 347.55B | 265.99B | 337.81B |
| Investing Cash Flow | -200.47B | -118.67B | -117.71B | -69.19B | -14.35B |
| Financing Cash Flow | 125.94B | -272.78B | -226.75B | -219.56B | -320.32B |
Asahi Group Holdings Technical Analysis
Neutral
1622.50
Price Trends
1520.82
Positive
1556.36
Positive
1612.22
Negative
Market Momentum
27.01
Negative
55.46
Neutral
37.18
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2502, the sentiment is Neutral. The current price of 1622.5 is above the 20-day moving average (MA) of 1556.08, above the 50-day MA of 1520.82, and above the 200-day MA of 1612.22, indicating a neutral trend. The MACD of 27.01 indicates Negative momentum. The RSI at 55.46 is Neutral, neither overbought nor oversold. The STOCH value of 37.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:2502.
Asahi Group Holdings Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ¥1.44T | 16.32 | 6.97% | 2.42% | 3.88% | -0.49% | |
66 Neutral | ¥2.32T | 15.43 | 12.60% | 3.05% | 3.28% | 165.26% | |
64 Neutral | ¥771.89B | 33.85 | 9.71% | 0.67% | -7.37% | 317.40% | |
63 Neutral | ¥2.44T | 19.54 | 6.47% | 3.23% | -1.52% | -35.83% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
57 Neutral | ¥687.12B | -16.16 | -12.76% | 1.77% | 0.52% | -1385.51% | |
48 Neutral | ¥420.48B | 36.06 | ― | 1.92% | 8.72% | -27.14% |
* Consumer Defensive Sector Average
JP:2502
Asahi Group Holdings
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Asahi Group Holdings Corporate Events
Asahi Group Sets September Extraordinary Shareholder Meeting to Present FY2025 Results
Jul 8, 2026
Asahi Group Holdings has scheduled an Extraordinary General Meeting of Shareholders to advance its governance and disclosure processes for investors. The meeting reflects the company’s ongoing commitment to transparency and structured shareh...
Asahi Group’s 2025 Profit Drops Despite Surge in Comprehensive Income
Jul 8, 2026
Asahi Group Holdings reported consolidated sales of ¥2,894.7 billion for the fiscal year ended December 31, 2025, a 1.5% decline from the previous year. Operating profit fell sharply by 30.9% to ¥185.9 billion, while profit attributable ...
Asahi Group Sets Record Date for Extraordinary Meeting After Cyberattack Delays Reports
Jun 11, 2026
Asahi Group Holdings has set June 30, 2026 as the record date to determine shareholders eligible to vote at an extraordinary general meeting expected in early September, with notice to be provided electronically via the company’s website. Th...
Asahi Slashes 2025 Earnings Forecast After Cyberattack and Cost Pressures
Jun 11, 2026
Asahi Group Holdings has cut its full-year 2025 earnings forecasts, signalling a weaker performance versus both its earlier guidance and its 2024 results. The group now expects revenue of ¥2.89 trillion, core operating profit of ¥260 bil...
Asahi’s Polish Brewer Kompania Piwowarska Posts Weaker 2025 Results Amid Group Cyberattack Delays
Jun 3, 2026
Asahi Group Holdings is a Japan-based beverage conglomerate best known for its beer and alcoholic drinks, with a global footprint that includes major operations in Europe and Asia. Through subsidiaries such as Kompania Piwowarska in Poland, the gr...
Asahi Group Keeps 2026 Interim Dividend Unchanged Amid Cyberattack Disruptions
May 22, 2026
Asahi Group Holdings has maintained its interim dividend forecast for the fiscal year ending December 31, 2026 at JPY 26 per share, matching the previous year and reinforcing its commitment to stable and progressive shareholder returns. The decisi...
Asahi Group Sets New Date for Delayed 2025 Earnings Release
May 22, 2026
Asahi Group Holdings, Ltd. has set July 8, 2026 as the date to announce its delayed financial results for the fiscal year ended December 31, 2025, following an earlier decision to postpone their disclosure. The company added that the timing for re...
Asahi Flags Cyberattack Fallout but Holds Profit Line Overseas
May 22, 2026
Asahi Group Holdings, the Japanese beverage and food group with major beer, soft drink, and food businesses in Europe, Asia Pacific, Japan, and East Asia, is navigating the aftermath of a cyberattack that disrupted systems in Japan and delayed its...
Asahi Delays Group Earnings After Cyberattack as Australian Unit Posts Mixed 2025 Results
Apr 28, 2026
Asahi Group Holdings has yet to release its consolidated financial results for the year ended December 31, 2025, after a cyberattack in September 2025 disrupted its reporting schedule, but said it will promptly announce a new disclosure date once ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.