Asics Corporation (JP:7936)
:7936
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Asics
(7936)
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Rating:73Outperform
Price Target:
¥4,634.00
▲(24.47% Upside)
Action:Upgraded
Date:02/18/26
The score is driven primarily by strong financial performance (profitability expansion and robust free cash flow). This is tempered by a stretched technical setup (overbought momentum signals) and a relatively expensive valuation (high P/E and low dividend yield).
Positive Factors
Strong cash generation
Sustained high free cash flow in 2024–2025 and consistent operating cash generation provide durable funding for capex, marketing and shareholder returns. Reliable cash conversion supports reinvestment into product innovation and retail expansion without needing frequent external financing.
Negative Factors
Moderating revenue growth
After an outsized rebound, a sharp slowdown to single-digit growth suggests demand normalization and limits near-term operating leverage. Slower top-line expansion could make it harder to sustain recent margin gains unless cost discipline or higher-margin channels offset the revenue deceleration.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained high free cash flow in 2024–2025 and consistent operating cash generation provide durable funding for capex, marketing and shareholder returns. Reliable cash conversion supports reinvestment into product innovation and retail expansion without needing frequent external financing.
Read all positive factors
Asics (7936) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥2.99T
Dividend Yield0.56%
Average Volume (3M)4.17M
Price to Earnings (P/E)26.1
Beta (1Y)1.36
Revenue Growth22.47%
EPS Growth66.82%
CountryJP
Employees8,987
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)159.55
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
¥6,100.00Price Target Upside63.85% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)172.32
Revenue Forecast (FY)¥981.88B
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—especially athletic footwear—along with apparel and sports accessories/equipment. Revenue is generated through a mix of (1) wholesale sales to third-party retailers and distributors (e....
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 | 872.87B | 810.92B | 678.53B | 570.46B | 484.60B | 404.08B |
| Gross Profit | 470.37B | 435.69B | 378.88B | 296.90B | 240.71B | 199.88B |
| EBITDA | 188.70B | 169.72B | 121.35B | 71.33B | 50.30B | 35.88B |
| Net Income | 113.64B | 98.72B | 63.81B | 35.27B | 19.89B | 9.40B |
Balance Sheet | ||||||
| Total Assets | 640.10B | 586.48B | 518.99B | 464.12B | 425.07B | 345.77B |
| Cash, Cash Equivalents and Short-Term Investments | 119.39B | 112.27B | 127.02B | 114.00B | 67.38B | 96.30B |
| Total Debt | 134.35B | 98.53B | 117.28B | 132.12B | 139.80B | 110.47B |
| Total Liabilities | 322.22B | 313.12B | 284.05B | 257.31B | 252.33B | 199.23B |
| Stockholders Equity | 316.34B | 271.76B | 233.29B | 205.08B | 170.91B | 146.39B |
Cash Flow | ||||||
| Free Cash Flow | 77.47B | 93.49B | 93.40B | 84.84B | -24.87B | 45.84B |
| Operating Cash Flow | 95.33B | 109.91B | 104.83B | 90.14B | -21.43B | 49.15B |
| Investing Cash Flow | -27.16B | -29.41B | -7.77B | -4.84B | -14.48B | -10.17B |
| Financing Cash Flow | -72.82B | -105.88B | -84.32B | -40.10B | 2.31B | -25.97B |
Asics Technical Analysis
Negative
3723.00
Price Trends
4523.36
Negative
4411.12
Negative
4142.70
Positive
Market Momentum
-49.53
Positive
40.15
Neutral
21.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7936, the sentiment is Negative. The current price of 3723 is below the 20-day moving average (MA) of 4494.05, below the 50-day MA of 4523.36, and below the 200-day MA of 4142.70, indicating a neutral trend. The MACD of -49.53 indicates Positive momentum. The RSI at 40.15 is Neutral, neither overbought nor oversold. The STOCH value of 21.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:7936.
Asics Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | ¥668.57B | 14.78 | 12.11% | 2.68% | 1.73% | 2.18% | |
73 Outperform | ¥2.99T | 26.10 | 34.14% | 0.56% | 22.47% | 66.82% | |
71 Outperform | ¥591.25B | 10.27 | 4.89% | 2.59% | 1.09% | ― | |
68 Neutral | ¥268.40B | 14.54 | 10.61% | 1.81% | 7.78% | 20.61% | |
63 Neutral | ¥1.49T | 39.80 | 5.92% | 1.93% | 1.37% | -38.81% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | ¥198.80B | 16.36 | 15.93% | 0.72% | 18.35% | 15.11% |
* Consumer Cyclical Sector Average
JP:7936
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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.