FUJIFILM Holdings Corp (JP:4901)
:4901
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FUJIFILM Holdings
(4901)
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Rating:58Neutral
Price Target:
¥3,145.00
▲(6.79% Upside)
Action:DowngradedDate:02/07/26
The score is primarily held back by weak cash conversion (negative free cash flow) and bearish technicals (below major moving averages with negative MACD). These are partially offset by solid profitability and manageable leverage, plus a reasonable valuation (moderate P/E) with a supportive dividend yield.
Positive Factors
Diversified business model
FUJIFILM's presence across healthcare, electronics and imaging spreads revenue risk across end markets and ties core materials and imaging R&D to multiple growth vectors. This diversification supports durable cashflows and strategic optionality versus single-market peers.
Negative Factors
Negative free cash flow
Persistent negative free cash flow suggests heavy capex, working-capital strain or other cash uses that erode financial flexibility. Over several months this limits capacity to deleverage, buy back stock or increase dividends without external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model
FUJIFILM's presence across healthcare, electronics and imaging spreads revenue risk across end markets and ties core materials and imaging R&D to multiple growth vectors. This diversification supports durable cashflows and strategic optionality versus single-market peers.
Read all positive factors
FUJIFILM Holdings (4901) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥3.58T
Dividend Yield2.07%
Average Volume (3M)3.37M
Price to Earnings (P/E)13.8
Beta (1Y)0.93
Revenue Growth5.39%
EPS Growth12.69%
CountryJP
Employees72,254
SectorIndustrials
Sector Strength72
IndustryBusiness Equipment & Supplies
Share Statistics
EPS (TTM)60.69
Shares Outstanding1,243,877,200
10 Day Avg. Volume3,791,640
30 Day Avg. Volume3,374,296
Financial Highlights & Ratios
PEG Ratio1.77
Price to Book (P/B)1.02
Price to Sales (P/S)1.07
P/FCF Ratio-45.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥3,998.09Price Target Upside35.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)220.03
Revenue Forecast (FY)¥3.31T
FUJIFILM Holdings Business Overview & Revenue Model
Company Description
FUJIFILM Holdings Corporation develops, manufactures, sells, and services imaging, healthcare, materials, and business innovation solutions worldwide. The company's Healthcare segment provides products and services, such as medical devices, biomed...
How the Company Makes Money
FUJIFILM generates revenue through multiple key streams, primarily by selling a wide range of products and services in its imaging and healthcare sectors. The imaging division includes the sale of digital cameras, photographic films, and printing ...
FUJIFILM Holdings Earnings Call Summary
Earnings Call Date:Aug 06, 2025
(Q1-2026)
| % Change Since: |
Next Earnings Date:May 08, 2026
Earnings Call Sentiment Positive
The earnings call presented a strong performance in revenue and operating income, marking record highs for Q1 and highlighting growth in Bio CDMO and imaging segments. Despite challenges from foreign exchange losses, tariffs, and a decline in the medical systems segment, the overall outlook remains positive with an effective upward revision of the full-year forecast and continuous dividend growth.Positive Updates
Record-High Revenue and Operating Income
Q1 revenue was JPY749.5 billion and operating income was JPY75.3 billion, both marking record highs for a Q1. Revenue increased by 4.5% YoY on a currency-neutral basis, while operating income rose by 35.1% YoY on a currency-neutral basis.
Negative Updates
Impact of Foreign Exchange and Tariffs
Net income declined due to foreign exchange losses and tariff impacts. The healthcare segment is expected to incur a JPY4 billion negative impact from US tariffs.
Read all updates
Q1-2026 Updates
Positive
Negative
Record-High Revenue and Operating Income
Q1 revenue was JPY749.5 billion and operating income was JPY75.3 billion, both marking record highs for a Q1. Revenue increased by 4.5% YoY on a currency-neutral basis, while operating income rose by 35.1% YoY on a currency-neutral basis.
Read all positive updates
Company Guidance
In the Q1 earnings presentation for FY2026, FUJIFILM Holdings Corporation reported record-high revenue and operating income figures, with revenue hitting JPY749.5 billion and operating income at JPY75.3 billion. Despite a decline in net income to JPY53.8 billion due to foreign exchange losses, the company maintained a robust performance across most segments. Strong sales in the Bio CDMO business, semiconductor materials, and imaging helped offset foreign exchange impacts. Operating income grew by 35.1% YoY on a currency-neutral basis, while net income increased by 10.6% YoY, also on a currency-neutral basis. For the full year, FUJIFILM aims for new record highs in revenue, operating income, and net income, with revenue projected at JPY3.28 trillion, operating income at JPY331 billion, and net income at JPY262 billion. The company has factored in the anticipated impact of US tariffs, estimating a JPY6 billion negative impact on operating income. FUJIFILM also highlighted its commitment to sustainability with initiatives like the PFAS-free ArF immersion photoresist and a new facility for refurbished multifunction devices. The company aims to continue addressing social challenges and contributing to a sustainable society.FUJIFILM Holdings Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
44
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.30T | 3.20T | 2.96T | 2.86T | 2.53T | 2.19T |
| Gross Profit | 1.34T | 1.30T | 1.19T | 1.14T | 1.03T | 869.69B |
| EBITDA | 544.00B | 493.72B | 426.74B | 415.29B | 362.70B | 288.90B |
| Net Income | 272.66B | 260.95B | 243.51B | 219.42B | 211.18B | 181.21B |
Balance Sheet | ||||||
| Total Assets | 5.88T | 5.25T | 4.78T | 4.13T | 3.96T | 3.55T |
| Cash, Cash Equivalents and Short-Term Investments | 188.13B | 172.11B | 179.72B | 268.61B | 486.33B | 394.80B |
| Total Debt | 1.07T | 802.28B | 607.63B | 462.58B | 535.56B | 586.96B |
| Total Liabilities | 2.16T | 1.90T | 1.61T | 1.35T | 1.43T | 1.33T |
| Stockholders Equity | 3.72T | 3.35T | 3.17T | 2.76T | 2.50T | 2.20T |
Cash Flow | ||||||
| Free Cash Flow | -130.10B | -74.63B | -56.77B | -113.02B | 158.03B | 295.25B |
| Operating Cash Flow | 399.63B | 428.16B | 407.94B | 210.45B | 323.93B | 420.86B |
| Investing Cash Flow | -532.88B | -541.95B | -527.42B | -323.23B | -153.54B | -279.38B |
| Financing Cash Flow | 106.31B | 108.88B | -462.00M | -123.69B | -105.18B | -163.09B |
FUJIFILM Holdings Technical Analysis
Negative
2945.00
Price Trends
3097.77
Negative
3228.04
Negative
3291.06
Negative
Market Momentum
-44.10
Positive
43.04
Neutral
16.84
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4901, the sentiment is Negative. The current price of 2945 is below the 20-day moving average (MA) of 3027.90, below the 50-day MA of 3097.77, and below the 200-day MA of 3291.06, indicating a bearish trend. The MACD of -44.10 indicates Positive momentum. The RSI at 43.04 is Neutral, neither overbought nor oversold. The STOCH value of 16.84 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4901.
FUJIFILM Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ¥754.87B | 8.32 | 7.77% | 3.16% | 4.30% | 78.29% | |
73 Outperform | ¥759.14B | 18.04 | 10.50% | 2.03% | 5.40% | 23.70% | |
71 Outperform | ¥794.44B | 8.78 | 6.04% | 2.78% | 4.46% | 70.22% | |
66 Neutral | ¥34.47B | 20.04 | ― | 4.37% | 0.33% | -65.09% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | ¥3.58T | 13.78 | 7.81% | 2.07% | 5.39% | 12.69% | |
47 Neutral | ¥254.46B | -71.33 | -12.69% | 0.71% | -11.22% | -731.07% |
* Industrials Sector Average
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FUJIFILM Holdings Corporate Events
Fujifilm Lifts Full-Year Outlook as Nine-Month Profit Jumps and Dividends Rise
Feb 5, 2026
FUJIFILM Holdings reported consolidated revenue of ¥2.43 trillion for the nine months ended December 31, 2025, up 4.4% year-on-year, with operating income rising 11.3% to ¥248.5 billion and net income attributable to the company increasi...
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.