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Shiseido Company,Limited
(4911)
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Rating:58Neutral
Price Target:
¥3,764.00
▲(23.61% Upside)
Action:Reiterated
Date:08/09/26
The score is held back primarily by weak profitability (net losses and negative ROE) despite solid gross margins and supportive cash generation. Technicals are a clear positive with strong uptrend signals, but valuation remains constrained due to the negative P/E and only moderate dividend yield.
Positive Factors
High gross margins
Sustained mid-to-high 70% gross margins indicate durable brand pricing power and product premiumization. Over months this margin buffer supports profitability if SG&A is controlled, enables investment in R&D/marketing, and provides resilience against input cost inflation.
Negative Factors
Negative net income
Recurring net losses and negative ROE erode shareholder returns and retained earnings. Over several months this limits capacity to ramp profitable growth, constrains dividend/payout policies, and raises the bar for operational improvement to restore sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained mid-to-high 70% gross margins indicate durable brand pricing power and product premiumization. Over months this margin buffer supports profitability if SG&A is controlled, enables investment in R&D/marketing, and provides resilience against input cost inflation.
Read all positive factors
Shiseido Company,Limited (4911) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.26T
Dividend Yield1.59%
Average Volume (3M)2.60M
Price to Earnings (P/E)―
Beta (1Y)0.91
Revenue Growth0.45%
EPS Growth-836.50%
CountryJP
Employees26,330
SectorGeneral
Sector StrengthN/A
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)-51.36
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
¥3,236.00Price Target Upside6.27% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)104.07
Revenue Forecast (FY)¥1.00T
Shiseido Company,Limited Business Overview & Revenue Model
Company Description
Shiseido Company, Limited is a global manufacturer and distributor of cosmetic products, operating both within Japan and across international markets. Its diverse portfolio includes perfumes, various makeup items, a comprehensive range of skincare...
How the Company Makes Money
Shiseido primarily makes money by selling beauty and personal care products, with revenue recognized from product sales across multiple brands and categories (notably skincare, makeup, and fragrance). Its key revenue streams are (1) domestic sales...
Shiseido Company,Limited Earnings Call Summary
Earnings Call Date:Nov 10, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Nov 10, 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
44
Neutral
Balance Sheet
62
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 999.13B | 969.99B | 990.59B | 973.04B | 1.07T | 1.01T |
| Gross Profit | 772.67B | 743.00B | 753.19B | 713.36B | 744.16B | 738.16B |
| EBITDA | 69.59B | 50.30B | 78.66B | 110.20B | 128.84B | 178.16B |
| Net Income | -20.52B | -40.68B | -10.81B | 21.75B | 34.20B | 46.91B |
Balance Sheet | ||||||
| Total Assets | 1.27T | 1.27T | 1.33T | 1.26T | 1.31T | 1.30T |
| Cash, Cash Equivalents and Short-Term Investments | 105.67B | 91.84B | 98.48B | 104.69B | 119.04B | 156.50B |
| Total Debt | 336.90B | 414.50B | 363.16B | 280.98B | 297.19B | 305.84B |
| Total Liabilities | 619.91B | 645.98B | 677.20B | 615.10B | 681.90B | 738.79B |
| Stockholders Equity | 636.62B | 600.76B | 632.47B | 618.75B | 604.26B | 540.70B |
Cash Flow | ||||||
| Free Cash Flow | 58.07B | 65.46B | -2.31B | 33.35B | 16.82B | 114.32B |
| Operating Cash Flow | 103.64B | 109.89B | 48.40B | 89.03B | 46.73B | 134.25B |
| Investing Cash Flow | -32.14B | -43.42B | -83.74B | -35.54B | -41.31B | 66.73B |
| Financing Cash Flow | -58.03B | -77.25B | 23.36B | -75.64B | -52.42B | -190.57B |
Shiseido Company,Limited Technical Analysis
Positive
3045.00
Price Trends
2822.22
Positive
2950.86
Positive
2769.96
Positive
Market Momentum
167.41
Negative
69.77
Neutral
74.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4911, the sentiment is Positive. The current price of 3045 is below the 20-day moving average (MA) of 3159.43, above the 50-day MA of 2822.22, and above the 200-day MA of 2769.96, indicating a bullish trend. The MACD of 167.41 indicates Negative momentum. The RSI at 69.77 is Neutral, neither overbought nor oversold. The STOCH value of 74.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4911.
Shiseido Company,Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥2.96T | 23.46 | 12.16% | 2.36% | 3.60% | 13.80% | |
72 Outperform | ¥554.51B | 15.76 | 12.11% | 1.82% | 11.37% | 11.35% | |
71 Outperform | ¥296.56B | 27.92 | 6.58% | 3.89% | -0.58% | 42.23% | |
68 Neutral | ¥324.33B | 31.66 | 3.71% | 2.42% | 1.63% | 74.87% | |
64 Neutral | ¥463.55B | 17.02 | 8.90% | 1.74% | 3.10% | 27.99% | |
58 Neutral | ¥1.26T | -35.01 | ― | 1.64% | 0.45% | -836.50% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:4911
Shiseido Company,Limited
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Shiseido Company,Limited Corporate Events
Shiseido Clarifies Key Metrics in First-Half 2026 Results
Aug 5, 2026
Shiseido Company, Limited, a major player in the global cosmetics and beauty industry, develops and markets skincare, makeup and fragrance products. It evaluates performance with metrics tailored to capture underlying business trends and operation...
Shiseido Delivers Strong First-Half 2026 Earnings and Confirms Higher Dividend Payout
Aug 5, 2026
Shiseido reported consolidated net sales of ¥498.97 billion for the six months ended June 30, 2026, up 6.2% year on year, driven by strong business performance across its beauty portfolio. Core operating profit nearly doubled to ¥44.43 b...
Shiseido Expands ESG-Linked Stock Incentive Plan Across Group
Jun 30, 2026
Shiseido Company, Limited is a leading global cosmetics and personal care group listed on the Tokyo Stock Exchange Prime Market. The company focuses on beauty products and related services, operating through a network of subsidiaries and aiming to...
Shiseido to Issue ¥13 Billion in Five-Year Unsecured Bonds for Debt Repayment
Jun 26, 2026
Shiseido Company, Limited has decided to issue its 15th series of unsecured bonds via public offering, with a total principal amount of ¥13 billion, five-year maturity, and an annual interest rate of 2.480%. The bonds, rated A by Rating and I...
Shiseido Completes Treasury Stock Disposal for Performance-Linked Incentive Plan
Jun 15, 2026
Shiseido has completed the payment procedures for the disposal of its treasury stock under a performance-linked, long-term incentive stock compensation plan for directors, officers, and employees. The number of shares to be disposed of was slightl...
Shiseido to Grant Treasury Shares Under Performance-Linked Long-Term Incentive Plan
May 19, 2026
Shiseido will dispose of 63,911 shares of its treasury stock on June 15, 2026 under a performance-linked stock compensation plan, granting shares as long-term incentives to 16 internal directors or executive officers, 4 subsidiary officers, and 22...
Shiseido to Shut Taiwan Hsinchu Plant and Shift Production to Japan
May 12, 2026
Shiseido will close the Hsinchu Factory of its 51%-owned subsidiary Taiwan Shiseido Co., Ltd. and shift production to domestic Japanese bases such as the Nasu Factory. The move aligns with its 2030 Medium-Term Strategy to evolve global operations,...
Shiseido Emphasizes Underlying Profitability in 2026 Q1 Results
May 12, 2026
Shiseido reported its 2026 first-quarter results for the period from January to March, framing performance in terms of net sales growth, core operating profit, and EBITDA. The company emphasized like-for-like net sales metrics that strip out forei...
Shiseido Lifts Profit in Q1 2026 and Confirms Full-Year Outlook
May 12, 2026
Shiseido reported first-quarter 2026 consolidated net sales of ¥231.96 billion, a 1.6% year-on-year increase, with core operating profit surging 57.9% to ¥13.03 billion and profit attributable to owners of parent more than doubling to &#...
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.