Shiseido Company,Limited (JP:4911)
:4911
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Shiseido Company,Limited
(4911)
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Rating:56Neutral
Price Target:
¥3,091.00
▲(35.69% Upside)
Action:ReiteratedDate:03/12/26
The score is held up by improved cash generation and a still-manageable balance sheet, but is capped by weak profitability (net losses and very thin operating margins). Technicals are mixed with neutral momentum, and valuation is pressured by loss-making earnings despite a modest dividend yield.
Positive Factors
Improved Cash Generation
Operating cash flow and free cash flow recovered strongly in 2025, providing durable internal funding. Positive FCF despite net losses supports liquidity, funds investment or deleveraging, and reduces reliance on external financing, strengthening resilience over the next several quarters.
Negative Factors
Weak Operating Profitability
Thin EBIT (~1.8%) and consecutive net losses indicate operating cost pressures and/or significant non‑operating charges that erode returns. Persistently weak operating profitability constrains reinvestment capacity, dividend consistency, and long‑term return on capital unless structural cost drivers are addressed.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Cash Generation
Operating cash flow and free cash flow recovered strongly in 2025, providing durable internal funding. Positive FCF despite net losses supports liquidity, funds investment or deleveraging, and reduces reliance on external financing, strengthening resilience over the next several quarters.
Read all positive factors
Shiseido Company,Limited (4911) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.17T
Dividend Yield2.11%
Average Volume (3M)2.60M
Price to Earnings (P/E)―
Beta (1Y)0.88
Revenue Growth-1.20%
EPS Growth-2896.72%
CountryJP
Employees27,908
SectorConsumer Defensive
Sector Strength42
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)8.27
Shares Outstanding400,000,000
10 Day Avg. Volume2,909,350
30 Day Avg. Volume2,597,383
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)1.51
Price to Sales (P/S)0.94
P/FCF Ratio13.90
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥3,041.73Price Target Upside33.53% Upside
Rating ConsensusHold
Number of Analyst Covering11
EPS Forecast (FY)100.83
Revenue Forecast (FY)¥997.09B
Shiseido Company,Limited Business Overview & Revenue Model
Company Description
Shiseido Company, Limited engages in the production and sale of cosmetics in Japan and internationally. The company offers fragrances; makeup products; skincare and body care products; and hair care and styling products, as well as hair color and ...
How the Company Makes Money
Shiseido primarily makes money by selling beauty and personal care products under its portfolio of brands. Revenue is generated when products are sold through (1) direct-to-consumer channels such as brand-operated e-commerce and owned stores/count...
Shiseido Company,Limited Earnings Call Summary
Earnings Call Date:Nov 10, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 08, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted a positive turnaround in Q3 and strong growth in specific segments like EMEA and Japan's e-commerce. However, significant challenges remain, particularly in the Americas and with certain brands like Drunk Elephant. Overall, while the company is on a path to recovery, the financial results still reflect significant hurdles.Positive Updates
Positive Q3 Turnaround
After a prolonged reset, the company achieved a positive return in Q3, with sales momentum indicating a return to a growth trajectory.
Negative Updates
Americas Business Challenges
The company recorded a noncash goodwill impairment loss for its Americas business, leading to a downward revision of operating profit and net profit forecast for 2025.
Read all updates
Q3-2025 Updates
Positive
Negative
Positive Q3 Turnaround
After a prolonged reset, the company achieved a positive return in Q3, with sales momentum indicating a return to a growth trajectory.
Read all positive updates
Company Guidance
During the fiscal year 2025 third quarter call, Shiseido provided extensive guidance on its strategic plans and financial outlook. The company reported a cumulative core operating profit exceeding JPY 30 billion, inching closer to the initial target of JPY 36.5 billion, despite a 3% decline in net sales to JPY 693.8 billion. The Americas business recorded a significant noncash goodwill impairment, prompting a downward revision of operating and net profit forecasts for the year. Shiseido aims for a core operating profit margin of 7% in 2026, with plans to achieve JPY 25 billion in cost savings by 2026 through structural reforms, including a voluntary retirement program affecting 200 employees. Free cash flow for the year is expected to surpass initial forecasts, reaching JPY 35 billion, while maintaining an annual dividend of JPY 40 per share. The company also outlined a strategic focus on brand innovation and geographic expansion, particularly in the skincare and fragrance categories, to drive growth and achieve a core operating profit margin above 10% by 2030.Shiseido Company,Limited Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
62
Positive
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 969.99B | 990.59B | 973.04B | 1.07T | 1.01T |
| Gross Profit | 743.00B | 753.19B | 713.36B | 744.16B | 738.16B |
| EBITDA | 89.18B | 76.56B | 92.23B | 98.16B | 47.21B |
| Net Income | -40.68B | -10.81B | 21.75B | 34.20B | 46.91B |
Balance Sheet | |||||
| Total Assets | 1.27T | 1.33T | 1.26T | 1.31T | 1.30T |
| Cash, Cash Equivalents and Short-Term Investments | 91.84B | 98.48B | 104.69B | 119.04B | 156.50B |
| Total Debt | 414.50B | 363.16B | 280.98B | 297.19B | 305.84B |
| Total Liabilities | 645.98B | 677.20B | 615.10B | 681.90B | 738.79B |
| Stockholders Equity | 600.76B | 632.47B | 618.75B | 604.26B | 540.70B |
Cash Flow | |||||
| Free Cash Flow | 65.46B | -2.31B | 33.35B | 16.82B | 114.32B |
| Operating Cash Flow | 109.89B | 48.40B | 89.03B | 46.73B | 134.25B |
| Investing Cash Flow | -43.42B | -83.74B | -35.54B | -41.31B | 66.73B |
| Financing Cash Flow | -77.25B | 23.36B | -75.64B | -52.42B | -190.57B |
Shiseido Company,Limited Technical Analysis
Neutral
2278.00
Price Trends
2928.97
Positive
2642.99
Positive
2564.64
Positive
Market Momentum
7.88
Positive
48.65
Neutral
30.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4911, the sentiment is Neutral. The current price of 2278 is below the 20-day moving average (MA) of 3063.67, below the 50-day MA of 2928.97, and below the 200-day MA of 2564.64, indicating a neutral trend. The MACD of 7.88 indicates Positive momentum. The RSI at 48.65 is Neutral, neither overbought nor oversold. The STOCH value of 30.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:4911.
Shiseido Company,Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ¥433.02B | 16.53 | 9.09% | 1.73% | 2.18% | 60.81% | |
71 Outperform | ¥544.30B | 13.97 | 12.66% | 1.53% | 18.35% | 31.87% | |
70 Outperform | ¥2.72T | 24.05 | 11.50% | 2.41% | 4.62% | 47.68% | |
69 Neutral | ¥331.52B | 19.79 | 2.72% | 2.61% | 1.37% | -5.60% | |
69 Neutral | ¥287.38B | 30.42 | 5.84% | 3.92% | -1.16% | 36.30% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
56 Neutral | ¥1.17T | -22.37 | ― | 2.11% | -1.20% | -2896.72% |
* Consumer Defensive Sector Average
JP:4911
Shiseido Company,Limited
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Shiseido Company,Limited Corporate Events
Shiseido Books ¥50.4 Billion Dividend from European Subsidiary with No Impact on Consolidated Earnings
Feb 10, 2026
Shiseido has disclosed that it received a surplus dividend of ¥50,358 million from its consolidated subsidiary Shiseido Europe S.A. on September 1, 2025. The payout was recorded as non-operating income in the parent company’s non-consol...
Shiseido Books ¥180.3 Billion Non-Consolidated Loss on U.S. Subsidiary Shares
Feb 10, 2026
Shiseido Company, Limited has recognized an extraordinary loss of ¥180.3 billion in its non-consolidated financial results for fiscal 2025, stemming from a valuation decline in the equity shares of its U.S.-based subsidiary, Shiseido Americas...
Shiseido Outperforms 2025 Profit Forecasts and Maintains Dividend Amid Weak Americas Sales
Feb 10, 2026
Shiseido reported that its full-year 2025 consolidated results modestly exceeded its earlier forecasts, with net sales lifted slightly by favorable foreign exchange effects from a weaker yen and core operating profit beating expectations due to ad...
Shiseido Swings to 2025 Loss but Signals Strong 2026 Profit Rebound and Higher Dividend
Feb 10, 2026
Shiseido reported full-year 2025 consolidated sales of ¥969.9 billion, down 2.1% year on year, while core operating profit rose 22.4% to ¥44.5 billion as the company benefited from underlying operational improvements. Despite this, non-r...
Shiseido Exceeds Target in Early Retirement Program, Books ¥3 Billion in One-Off Costs
Jan 6, 2026
Shiseido has completed its voluntary early retirement initiative, the “Next Career Support Plan,” targeting employees of the parent company and selected domestic subsidiaries who met specified age and tenure criteria. While the program...
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.