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Asics
(7936)
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Rating:77Outperform
Price Target:
¥5,580.00
▲(16.42% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial performance—meaningful margin expansion and robust free-cash-flow generation—supported by a positive technical uptrend. These strengths are partially offset by a higher P/E and low dividend yield, which reduce valuation support.
Positive Factors
Robust free cash flow generation
Consistently high free cash flow gives ASICS durable financial flexibility to invest in product R&D and DTC expansion, pay down debt, or return capital. Strong cash conversion versus net income reduces reliance on external funding and cushions the business through sport-cycle volatility.
Negative Factors
Moderating revenue growth
Slower top-line growth reduces the margin of safety for sustaining recent profitability gains and limits the pace at which free cash flow can expand. With growth normalizing, ASICS must rely more on mix, pricing, and efficiency to sustain returns over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust free cash flow generation
Consistently high free cash flow gives ASICS durable financial flexibility to invest in product R&D and DTC expansion, pay down debt, or return capital. Strong cash conversion versus net income reduces reliance on external funding and cushions the business through sport-cycle volatility.
Read all positive factors
Asics (7936) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥3.39T
Dividend Yield0.73%
Average Volume (3M)4.17M
Price to Earnings (P/E)26.9
Beta (1Y)1.19
Revenue Growth27.53%
EPS Growth70.61%
CountryJP
Employees9,455
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)179.04
Shares Outstanding734,482,240
10 Day Avg. Volume2,956,680
30 Day Avg. Volume4,169,013
Financial Highlights & Ratios
PEG Ratio0.48
Price to Book (P/B)9.88
Price to Sales (P/S)3.31
P/FCF Ratio28.71
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥6,050.00Price Target Upside26.23% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)174.37
Revenue Forecast (FY)¥1.00T
Asics Business Overview & Revenue Model
Company Description
ASICS Corporation develops and distributes athletic merchandise across a global operational scope, encompassing Japan, the Americas, Europe, Oceania, and both Southeast and South Asia. Their offerings include a comprehensive selection of athletic ...
How the Company Makes Money
ASICS makes money primarily by selling branded sporting goods—most notably athletic footwear—through a multi-channel distribution model.
1) Core revenue streams
- Footwear sales: The largest driver of revenue is the sale of athletic shoes, partic...
Asics Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
78
Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 942.60B | 810.92B | 678.53B | 570.46B | 484.60B | 404.08B |
| Gross Profit | 508.99B | 435.69B | 378.88B | 296.90B | 240.71B | 199.88B |
| EBITDA | 214.14B | 169.72B | 121.35B | 71.33B | 50.30B | 35.88B |
| Net Income | 127.28B | 98.72B | 63.81B | 35.27B | 19.89B | 9.40B |
Balance Sheet | ||||||
| Total Assets | 679.38B | 586.48B | 518.99B | 464.12B | 425.07B | 345.77B |
| Cash, Cash Equivalents and Short-Term Investments | 141.43B | 112.27B | 127.02B | 114.00B | 67.38B | 96.30B |
| Total Debt | 101.03B | 98.53B | 117.28B | 132.12B | 139.80B | 110.47B |
| Total Liabilities | 318.95B | 313.12B | 284.05B | 257.31B | 252.33B | 199.23B |
| Stockholders Equity | 358.89B | 271.76B | 233.29B | 205.08B | 170.91B | 146.39B |
Cash Flow | ||||||
| Free Cash Flow | 105.53B | 93.49B | 93.40B | 84.84B | -24.87B | 45.84B |
| Operating Cash Flow | 122.33B | 109.91B | 104.83B | 90.14B | -21.43B | 49.15B |
| Investing Cash Flow | -29.14B | -29.41B | -7.77B | -4.84B | -14.48B | -10.17B |
| Financing Cash Flow | -86.50B | -105.88B | -84.32B | -40.10B | 2.31B | -25.97B |
Asics Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥686.89B | 14.58 | 12.21% | 2.76% | 3.41% | 5.50% | |
77 Outperform | ¥3.39T | 26.87 | 34.14% | 0.69% | 27.53% | 70.61% | |
72 Outperform | ¥589.67B | 9.75 | 8.07% | 3.93% | 4.82% | ― | |
71 Outperform | ¥313.27B | 16.48 | 11.14% | 1.67% | 9.85% | 30.70% | |
71 Outperform | ¥1.67T | 30.56 | 4.37% | 1.84% | 0.93% | 63.95% | |
68 Neutral | ¥240.91B | 17.83 | 16.02% | 0.96% | 15.09% | 12.17% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
* Consumer Cyclical Sector Average
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Asics Corporate Events
ASICS to Spin Off Onitsuka Tiger Brand into Dedicated Global Subsidiary
Jun 10, 2026
ASICS plans to transfer its rapidly expanding Onitsuka Tiger brand to OT GROUP Corporation, a wholly owned subsidiary, via a simplified absorption-type company split effective January 1, 2027. The move will spin off Onitsuka Tiger operations in re...
ASICS Confirms It Is Exploring Possible Separation of Onitsuka Tiger Brand
Jun 10, 2026
ASICS said media reports about a potential separation of its Onitsuka Tiger business are not based on any official announcement, though it acknowledged that it is considering such a move. The company added that any decision requiring disclosure, i...
ASICS Delivers Strong Q1 2026 Earnings and Raises Dividend Outlook
May 13, 2026
ASICS reported strong results for the quarter ended March 31, 2026, with net sales rising 29.7% year-on-year to ¥270.3 billion and operating profit up 36.5% to ¥60.8 billion, reflecting solid underlying growth even on a currency-neutral ...
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.