Want to see JP:4543 full AI Analyst Report?
Top Page
Terumo
(4543)
Select Model
Select Model
Rating:73Outperform
Price Target:
¥2,646.00
▲(2.88% Upside)
Action:Reiterated
Date:08/09/26
The score is driven primarily by strong financial performance—high and stable margins with reasonable leverage—tempered by slower recent revenue growth and mixed cash conversion. Technicals add support with price trading above key moving averages and positive momentum. Valuation is the main drag, with a relatively high P/E and only a modest dividend yield.
Positive Factors
High margin profile
Sustained high gross and operating margins indicate durable pricing power and efficient manufacturing across devices and consumables. These margins underpin cash generation, fund R&D and capex, and provide a buffer against reimbursement pressure typical in medical-device markets.
Negative Factors
Decelerating revenue growth
A marked slowdown from earlier double-digit growth suggests the business may be entering a more mature phase or facing tougher comps. Persistently slower top-line growth pressures the firm's ability to expand operating scale and may force reliance on margin expansion or inorganic growth to meet investor expectations.
Read all positive and negative factors
Positive Factors
Negative Factors
High margin profile
Sustained high gross and operating margins indicate durable pricing power and efficient manufacturing across devices and consumables. These margins underpin cash generation, fund R&D and capex, and provide a buffer against reimbursement pressure typical in medical-device markets.
Read all positive factors
Terumo (4543) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥3.84T
Dividend Yield1.17%
Average Volume (3M)4.45M
Price to Earnings (P/E)23.1
Beta (1Y)0.56
Revenue Growth14.05%
EPS Growth31.94%
CountryJP
Employees31,185
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)111.50
Shares Outstanding1,480,559,700
10 Day Avg. Volume4,137,290
30 Day Avg. Volume4,454,930
Financial Highlights & Ratios
PEG Ratio1.38
Price to Book (P/B)1.96
Price to Sales (P/S)2.75
P/FCF Ratio21.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥3,137.78Price Target Upside22.00% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)122.71
Revenue Forecast (FY)¥1.26T
Terumo Business Overview & Revenue Model
Company Description
Terumo Corporation is a global enterprise dedicated to the development, manufacturing, and distribution of a wide array of medical products and equipment. Its comprehensive operations are structured across three primary divisions: the Cardiac and ...
How the Company Makes Money
Terumo primarily makes money by selling medical devices and consumables that are used repeatedly in clinical care, creating recurring demand tied to procedure volumes and routine hospital operations. Key revenue streams include: (1) Cardiovascular...
Terumo Earnings Call Summary
Earnings Call Date:Feb 13, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive operational and financial picture: record revenue and record (adjusted) operating profit YTD, strong North American demand, rapid OrganOx margin expansion, and concrete cost-saving initiatives that support the company’s GS26 targets. Offsetting these positives are tangible near-term headwinds — tariff and FX pressure, Q3 one-time expenses that compressed the quarterly margin, a JPY 1.6 billion loss at the Leverkusen plant during start-up, and execution/volume variability in the Rika plasma business and a temporary donor slowdown at OrganOx. Management emphasized that pricing actions and disciplined cost control have largely mitigated tariff impacts and that strategic one-time investments are intended to improve future profitability.Positive Updates
Record Quarterly and YTD Revenue
Consolidated revenue reached a record JPY 831.6 billion on a Q3 year-to-date basis, the highest ever for both the quarter and Q3 YTD. Growth was driven by sustained global demand, particularly in North America.
Negative Updates
Tariff and Foreign Exchange Pressure
Tariffs reduced gross margin by JPY 4.2 billion in Q3 and foreign exchange had a negative impact on both flow and stock bases versus the prior year; gross profit margin on a standalone Q3 basis declined (FX estimated to have reduced gross profit rate by ~1 percentage point).
Read all updates
Q3-2026 Updates
Positive
Negative
Record Quarterly and YTD Revenue
Consolidated revenue reached a record JPY 831.6 billion on a Q3 year-to-date basis, the highest ever for both the quarter and Q3 YTD. Growth was driven by sustained global demand, particularly in North America.
Read all positive updates
Company Guidance
Terumo said its results have exceeded guidance and reiterated progress toward GS26, reporting Q3 year‑to‑date revenue of JPY 831.6 billion, operating profit JPY 144.9 billion and adjusted operating profit JPY 173.5 billion; North America sales grew ~9% excl. FX while Cardiac & Vascular revenue rose ~8% in local currency. Management quantified headwinds and offsets: tariffs reduced gross profit by JPY 4.2 billion while pricing measures contributed +JPY 3.5 billion, FX weakened margins by about one percentage point, the Leverkusen plant reduced profit by JPY 1.6 billion, and OrganOx (consolidated from Nov. 29) added JPY 2.9 billion of Q3 revenue and JPY 0.5 billion of adjusted OP (OrganOx Y/Y revenue +50%, margin up from 13% to 21%). They disclosed purchase-accounting amortization of roughly JPY 4 billion in this fiscal year and JPY 7 billion next year, one‑time overseas restructuring/severance of about JPY 1 billion in FY26 and expected annualized workforce cost savings of ~JPY 3 billion from the following year, while reiterating GS26 targets of late double‑digit revenue growth, a ~20% operating profit margin and ~10% ROIC.Terumo Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.18T | 1.13T | 1.04T | 921.86B | 820.21B | 703.30B |
| Gross Profit | 627.75B | 594.68B | 532.78B | 454.17B | 393.84B | 348.75B |
| EBITDA | 295.38B | 276.92B | 242.51B | 219.66B | 188.44B | 174.58B |
| Net Income | 164.50B | 135.91B | 116.98B | 106.37B | 89.33B | 88.81B |
Balance Sheet | ||||||
| Total Assets | 2.37T | 2.31T | 1.83T | 1.83T | 1.60T | 1.47T |
| Cash, Cash Equivalents and Short-Term Investments | 314.63B | 280.49B | 222.15B | 206.33B | 187.38B | 205.31B |
| Total Debt | 389.46B | 379.80B | 213.96B | 268.55B | 266.67B | 259.01B |
| Total Liabilities | 712.07B | 727.72B | 459.85B | 504.31B | 491.16B | 461.37B |
| Stockholders Equity | 1.66T | 1.58T | 1.37T | 1.33T | 1.11T | 1.01T |
Cash Flow | ||||||
| Free Cash Flow | 191.86B | 145.64B | 142.19B | 85.60B | 45.36B | 87.95B |
| Operating Cash Flow | 272.69B | 230.85B | 210.80B | 146.33B | 117.54B | 141.47B |
| Investing Cash Flow | -350.46B | -344.10B | -82.48B | -81.47B | -59.12B | -78.45B |
| Financing Cash Flow | 165.14B | 155.50B | -108.77B | -62.08B | -86.56B | -70.88B |
Terumo Technical Analysis
Positive
2572.00
Price Trends
2331.49
Positive
2256.22
Positive
2227.33
Positive
Market Momentum
81.94
Negative
59.62
Neutral
64.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4543, the sentiment is Positive. The current price of 2572 is above the 20-day moving average (MA) of 2488.80, above the 50-day MA of 2331.49, and above the 200-day MA of 2227.33, indicating a bullish trend. The MACD of 81.94 indicates Negative momentum. The RSI at 59.62 is Neutral, neither overbought nor oversold. The STOCH value of 64.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4543.
Terumo Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥3.84T | 23.07 | 9.19% | 1.39% | 14.05% | 31.94% | |
72 Outperform | ¥1.07T | 32.34 | 19.68% | 1.36% | 21.16% | 157.04% | |
71 Outperform | ¥1.23T | 30.43 | 7.27% | 2.48% | 4.48% | -15.75% | |
70 Outperform | ¥159.01B | 23.43 | ― | 2.73% | 9.94% | 10.50% | |
69 Neutral | ¥2.38T | 30.80 | 8.94% | 1.65% | 7.80% | -27.73% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | ¥257.12B | 18.04 | 5.37% | 2.03% | 2.68% | 144.20% |
* Healthcare Sector Average
JP:4543
Terumo
2,572.00
-56.05
-2.13%
JP:7747
Asahi Intecc Co
3,924.00
1,438.15
57.85%
JP:8086
Nipro
1,572.50
99.13
6.73%
JP:7733
Olympus
2,133.00
431.04
25.33%
JP:6869
Sysmex
1,940.00
92.10
4.98%
JP:7730
Mani, Inc.
1,607.00
365.84
29.48%
Terumo Corporate Events
Terumo Lifts FY2026 Profit Guidance on U.S. Tariff Refunds and Settlement Gains
Aug 7, 2026
Terumo Corporation has revised its full-year consolidated financial guidance for the fiscal year ending March 31, 2027, keeping revenue estimates unchanged at 1,239 billion yen while lifting profit forecasts. The company now projects adjusted oper...
Terumo Lifts Full-Year Outlook After Strong First-Quarter Earnings Surge
Aug 7, 2026
Terumo reported strong results for the quarter ended June 30, 2026, with revenue climbing 19.9% year on year to ¥311.8 billion and operating profit surging 60.1% to ¥89.5 billion, lifting basic earnings per share to ¥47.74. The comp...
Terumo Completes Treasury Share Disposal for Restricted Stock Compensation
Aug 4, 2026
Terumo Corporation has completed the disposal of 116,206 treasury shares as Restricted Stock remuneration to internal stakeholders, following a July 16, 2026 board resolution. The shares, valued at ¥2,179.5 each for a total of about ¥253...
Terumo Finalizes Details of New Executive Stock Option Issuance
Aug 4, 2026
Terumo Corporation has finalized the detailed terms for its No. 14 share warrants stock option program, following a July 16, 2026 board resolution, setting the total issuance at 5,519 warrants priced at 17,280 yen per warrant. The allocation is di...
Terumo Issues Long-Term Stock Options to Align Executives With Shareholders
Jul 16, 2026
Terumo has approved the issuance of its No.14 share warrants as stock options to Group Executive Officers, Executive Officers and Fellows residing outside Japan, allocating a total of 5,519 warrants. The program is designed to align management wit...
Terumo to Grant Restricted Stock from Treasury Shares to Align Pay with Long-Term Performance
Jul 16, 2026
Terumo Corporation has approved the disposal of 116,206 treasury shares as restricted stock remuneration for a total value of about ¥253 million, allocating shares to directors, executive officers, Terumo Fellows, and employees in Japan. The ...
Terumo Delivers Double-Digit Profit Growth and Raises Dividend on Robust FY2026 Results
May 15, 2026
Terumo reported strong results for the fiscal year ended March 31, 2026, with revenue rising 9.2% to ¥1.13 trillion and operating profit up 11.8%, while profit attributable to owners of the parent climbed 16.2% as margins improved and adjuste...
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.