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Asahi Group Holdings
(2502)
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Rating:67Neutral
Price Target:
¥1,789.00
▲(6.55% Upside)
Action:Reiterated
Date:08/19/26
The score is driven primarily by solid operating performance and a reasonably strong balance sheet, offset by weaker and more volatile cash-flow conversion. Valuation is supportive (P/E ~15.1 and ~3.15% dividend yield), while technicals are mixed with neutral momentum and slight near-term softness versus the 20-day average.
Positive Factors
Steady Revenue and Solid Margins
Recurring revenue growth and category-appropriate margins indicate resilient demand and operating scale. This supports continued earnings generation, although future performance will depend on maintaining pricing, mix and cost discipline.
Negative Factors
Weak and Volatile Cash Conversion
Lower cash conversion reduces the funds available for debt service, dividends and reinvestment. The sharp decline and prior-year negative free cash flow suggest working-capital or investment demands may continue to create financial variability.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue and Solid Margins
Recurring revenue growth and category-appropriate margins indicate resilient demand and operating scale. This supports continued earnings generation, although future performance will depend on maintaining pricing, mix and cost discipline.
Read all positive factors
Asahi Group Holdings (2502) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥2.57T
Dividend Yield3.1%
Average Volume (3M)6.75M
Price to Earnings (P/E)15.3
Beta (1Y)0.40
Revenue Growth2.71%
EPS Growth-4.91%
CountryJP
Employees28,560
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Alcoholic
Share Statistics
EPS (TTM)110.00
Shares Outstanding1,521,010,100
10 Day Avg. Volume8,504,770
30 Day Avg. Volume6,753,146
Financial Highlights & Ratios
PEG Ratio-0.56
Price to Book (P/B)0.82
Price to Sales (P/S)0.85
P/FCF Ratio-130.96
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥1,828.33Price Target Upside8.89% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)129.55
Revenue Forecast (FY)¥3.15T
Asahi Group Holdings Business Overview & Revenue Model
Company Description
Asahi Group Holdings, Ltd. is a Japanese conglomerate that globally produces and distributes a wide array of alcoholic and non-alcoholic beverages, along with various food products. The company's business activities are structured across several d...
How the Company Makes Money
Asahi Group Holdings makes money primarily by selling branded beverages, with revenue recognized from shipments and sales through multiple channels. Its core revenue stream is alcoholic beverages—most notably beer and other alcohol categories—sold...
Asahi Group Holdings Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
55
Neutral
| Breakdown | Jun 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.89T | 2.94T | 2.77T | 2.51T | 2.24T |
| Gross Profit | 1.09T | 1.01T | 923.66B | 852.39B | 785.24B |
| EBITDA | 426.08B | 443.75B | 404.53B | 362.08B | 350.38B |
| Net Income | 121.57B | 192.08B | 164.07B | 151.56B | 153.50B |
Balance Sheet | |||||
| Total Assets | 6.03T | 5.40T | 5.29T | 4.83T | 4.55T |
| Cash, Cash Equivalents and Short-Term Investments | 156.38B | 83.96B | 59.95B | 37.44B | 52.74B |
| Total Debt | 1.64T | 1.39T | 1.52T | 1.64T | 1.69T |
| Total Liabilities | 3.02T | 2.73T | 2.82T | 2.77T | 2.79T |
| Stockholders Equity | 3.00T | 2.67T | 2.46T | 2.06T | 1.76T |
Cash Flow | |||||
| Free Cash Flow | -18.72B | 295.40B | 257.97B | 182.94B | 257.01B |
| Operating Cash Flow | 104.82B | 403.72B | 347.55B | 265.99B | 337.81B |
| Investing Cash Flow | -200.47B | -118.67B | -117.71B | -69.19B | -14.35B |
| Financing Cash Flow | 125.94B | -272.78B | -226.75B | -219.56B | -320.32B |
Asahi Group Holdings Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ¥2.50T | 12.66 | 12.28% | 2.58% | 5.72% | 266.01% | |
74 Outperform | ¥1.42T | 15.72 | 6.92% | 2.54% | 7.30% | 1.73% | |
67 Neutral | ¥2.57T | 15.26 | 4.41% | 3.16% | 2.71% | -4.91% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
58 Neutral | ¥753.76B | 2.40 | 10.95% | 6.41% | -5.63% | 9049.10% | |
57 Neutral | ¥426.05B | 35.92 | ― | 1.92% | 8.72% | -27.14% | |
49 Neutral | ¥638.70B | 33.60 | -11.96% | 1.52% | -0.01% | ― |
* Consumer Defensive Sector Average
JP:2502
Asahi Group Holdings
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Asahi Group Holdings Corporate Events
Asahi Group profit surges on strong first-half sales
Aug 14, 2026
Asahi Group Holdings reported a solid improvement in its semi-annual consolidated results to June 2026, with sales rising 7.7 percent year-on-year to ¥1.46 trillion and operating profit surging 56.2 percent to ¥144.1 billion. Profit attr...
Asahi Group Posts Higher Sales but Lower Operating Profit in Q1 2026
Aug 14, 2026
Asahi Group Holdings reported consolidated sales of ¥647.1 billion for the quarter ended March 2026, a 2.6% increase year on year, supported by steady demand across its beverage and food businesses. However, operating profit slipped 3.1% to &...
Asahi Group Raises Annual Dividend, Reaffirming Progressive Payout Policy
Aug 5, 2026
Asahi Group Holdings, Ltd. has approved an interim cash dividend of JPY 26.0 per share for the fiscal year ending December 2026, with a record date of June 30, 2026 and payment scheduled for September 1, 2026. The dividend will be funded from reta...
Asahi Sets New Date for Delayed First-Quarter Earnings Release
Jul 29, 2026
Asahi Group Holdings has set August 14, 2026 as the new date to announce its delayed financial results for the first quarter of the fiscal year ending December 31, 2026. The company had previously postponed this disclosure, and the revised schedul...
Asahi Flags Cyberattack-Linked Internal Control Weakness, Moves to Tighten IT Security
Jul 27, 2026
Asahi Group Holdings has disclosed that its internal control over financial reporting was not effective for the fiscal year ended December 31, 2025, due to a material weakness tied to a major cyberattack on its Japan Region information systems. Th...
Asahi Group Files Delayed FY2025 Securities Report After Deadline Extension
Jul 27, 2026
Asahi Group Holdings has completed the submission of its Securities Report for the fiscal year ended December 31, 2025, to the Kanto Local Finance Bureau, following an approved extension of the filing deadline to July 27, 2026. The delayed filing ...
Asahi Group Sets September Extraordinary Shareholder Meeting to Present FY2025 Results
Jul 8, 2026
Asahi Group Holdings has scheduled an Extraordinary General Meeting of Shareholders to advance its governance and disclosure processes for investors. The meeting reflects the company’s ongoing commitment to transparency and structured shareh...
Asahi Group’s 2025 Profit Drops Despite Surge in Comprehensive Income
Jul 8, 2026
Asahi Group Holdings reported consolidated sales of ¥2,894.7 billion for the fiscal year ended December 31, 2025, a 1.5% decline from the previous year. Operating profit fell sharply by 30.9% to ¥185.9 billion, while profit attributable ...
Asahi Group Sets Record Date for Extraordinary Meeting After Cyberattack Delays Reports
Jun 11, 2026
Asahi Group Holdings has set June 30, 2026 as the record date to determine shareholders eligible to vote at an extraordinary general meeting expected in early September, with notice to be provided electronically via the company’s website. Th...
Asahi Slashes 2025 Earnings Forecast After Cyberattack and Cost Pressures
Jun 11, 2026
Asahi Group Holdings has cut its full-year 2025 earnings forecasts, signalling a weaker performance versus both its earlier guidance and its 2024 results. The group now expects revenue of ¥2.89 trillion, core operating profit of ¥260 bil...
Asahi’s Polish Brewer Kompania Piwowarska Posts Weaker 2025 Results Amid Group Cyberattack Delays
Jun 3, 2026
Asahi Group Holdings is a Japan-based beverage conglomerate best known for its beer and alcoholic drinks, with a global footprint that includes major operations in Europe and Asia. Through subsidiaries such as Kompania Piwowarska in Poland, the gr...
Asahi Group Keeps 2026 Interim Dividend Unchanged Amid Cyberattack Disruptions
May 22, 2026
Asahi Group Holdings has maintained its interim dividend forecast for the fiscal year ending December 31, 2026 at JPY 26 per share, matching the previous year and reinforcing its commitment to stable and progressive shareholder returns. The decisi...
Asahi Group Sets New Date for Delayed 2025 Earnings Release
May 22, 2026
Asahi Group Holdings, Ltd. has set July 8, 2026 as the date to announce its delayed financial results for the fiscal year ended December 31, 2025, following an earlier decision to postpone their disclosure. The company added that the timing for re...
Asahi Flags Cyberattack Fallout but Holds Profit Line Overseas
May 22, 2026
Asahi Group Holdings, the Japanese beverage and food group with major beer, soft drink, and food businesses in Europe, Asia Pacific, Japan, and East Asia, is navigating the aftermath of a cyberattack that disrupted systems in Japan and delayed its...
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.