ONO Pharmaceutical Co Ltd (JP:4528)
:4528
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ONO Pharmaceutical Co
(4528)
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Rating:75Outperform
Price Target:
¥2,713.00
▲(19.38% Upside)
Action:ReiteratedDate:02/04/26
The score is driven primarily by solid financial quality (strong free cash flow and low leverage), partially offset by a sharp decline in margins and returns versus FY2024. Technicals show a strong uptrend, but overbought signals temper the near-term setup. Valuation is reasonable with a supportive dividend yield.
Positive Factors
Strong free cash flow and growth
Consistent, large free cash flow and strong FCF growth provide durable funding for R&D, dividends, milestones and shareholder returns. High FCF-to-income conversion (~0.95x) supports strategic flexibility and lowers reliance on external financing for multi-year drug development.
Negative Factors
Material margin and ROE compression
A steep decline in margins and ROE signals structural changes to profitability—product mix shifts, pricing pressure or higher costs—that reduce internal funding for R&D and returns to shareholders. Sustained compression would limit reinvestment capacity and strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow and growth
Consistent, large free cash flow and strong FCF growth provide durable funding for R&D, dividends, milestones and shareholder returns. High FCF-to-income conversion (~0.95x) supports strategic flexibility and lowers reliance on external financing for multi-year drug development.
Read all positive factors
ONO Pharmaceutical Co (4528) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.18T
Dividend Yield3.63%
Average Volume (3M)2.41M
Price to Earnings (P/E)8.8
Beta (1Y)0.54
Revenue Growth4.00%
EPS Growth-48.73%
CountryJP
Employees3,853
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)N/A
Shares Outstanding498,692,800
10 Day Avg. Volume2,786,750
30 Day Avg. Volume2,407,313
Financial Highlights & Ratios
PEG Ratio-0.25
Price to Book (P/B)0.96
Price to Sales (P/S)1.55
P/FCF Ratio9.77
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
ONO Pharmaceutical Co Business Overview & Revenue Model
Company Description
Ono Pharmaceutical Co., Ltd., together with its subsidiaries, produces, purchases, and sells pharmaceuticals and diagnostic reagents worldwide. It offers OPDIVO intravenous infusions for the treatment of malignant tumors; KYPROLIS for intravenous ...
How the Company Makes Money
ONO Pharmaceutical generates revenue primarily through the sale of its pharmaceutical products, which include both patented drugs and generic formulations. The company has established key revenue streams from its flagship products, notably its onc...
ONO Pharmaceutical Co Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
83
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 509.35B | 486.87B | 502.67B | 447.19B | 361.36B | 309.28B |
| Gross Profit | 355.45B | 335.47B | 372.67B | 334.28B | 264.91B | 221.10B |
| EBITDA | 120.14B | 90.28B | 181.70B | 169.75B | 132.63B | 107.92B |
| Net Income | 62.40B | 50.05B | 127.98B | 112.72B | 80.52B | 75.42B |
Balance Sheet | ||||||
| Total Assets | 1.08T | 1.06T | 913.67B | 882.44B | 739.20B | 745.43B |
| Cash, Cash Equivalents and Short-Term Investments | 189.27B | 210.38B | 204.59B | 164.29B | 116.97B | 104.97B |
| Total Debt | 124.43B | 146.68B | 8.86B | 9.17B | 8.80B | 9.05B |
| Total Liabilities | 239.04B | 275.84B | 115.06B | 134.62B | 77.53B | 105.68B |
| Stockholders Equity | 839.67B | 782.45B | 792.96B | 741.87B | 655.91B | 634.13B |
Cash Flow | ||||||
| Free Cash Flow | 119.27B | 77.03B | 106.64B | 154.27B | 56.33B | 66.96B |
| Operating Cash Flow | 125.64B | 82.46B | 110.66B | 159.61B | 61.83B | 73.98B |
| Investing Cash Flow | -28.72B | -136.78B | 48.08B | -100.26B | 6.04B | -57.59B |
| Financing Cash Flow | -69.13B | 94.30B | -89.85B | -32.48B | -60.24B | -24.75B |
ONO Pharmaceutical Co Technical Analysis
Positive
2272.50
Price Trends
2455.77
Positive
2300.90
Positive
1977.11
Positive
Market Momentum
31.95
Negative
52.67
Neutral
30.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4528, the sentiment is Positive. The current price of 2272.5 is below the 20-day moving average (MA) of 2459.43, below the 50-day MA of 2455.77, and above the 200-day MA of 1977.11, indicating a bullish trend. The MACD of 31.95 indicates Negative momentum. The RSI at 52.67 is Neutral, neither overbought nor oversold. The STOCH value of 30.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4528.
ONO Pharmaceutical Co Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ¥14.26T | 31.26 | 22.23% | 1.17% | 6.25% | 2.62% | |
75 Outperform | ¥1.18T | 8.84 | 6.03% | 3.63% | 4.00% | -48.73% | |
75 Outperform | ¥4.69T | 9.34 | 7.97% | 3.61% | 13.24% | 127.88% | |
72 Outperform | ¥1.34T | 19.73 | 4.27% | 2.33% | -3.36% | -55.41% | |
68 Neutral | ¥1.42T | 19.13 | 5.75% | 3.51% | 6.79% | 22.14% | |
67 Neutral | ¥5.17T | 17.88 | 18.56% | 2.07% | 12.56% | 14.58% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
JP:4528
ONO Pharmaceutical Co
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ONO Pharmaceutical Co Corporate Events
ONO Pharmaceutical Posts Strong Profit Growth in Q3 FY2025 and Maintains Full-Year Outlook
Feb 2, 2026
ONO Pharmaceutical reported solid growth for the nine months ended December 31, 2025, with revenue rising 6.0% year-on-year to ¥397.0 billion and operating profit jumping 24.8% to ¥88.3 billion, reflecting improved profitability after a ...
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.