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Shiseido Company,Limited
(4911)
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Rating:58Neutral
Price Target:
¥3,374.00
▼(-8.44% Downside)
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 high gross margins indicate meaningful brand strength and pricing power across Shiseido’s beauty portfolio. This provides a durable buffer for marketing and product investment, and creates potential for improved earnings if operating discipline restores profitability.
Negative Factors
Persistent Losses
Recent losses show that Shiseido’s strong gross margins are not translating into reliable bottom-line returns. Negative earnings and ROE can constrain reinvestment efficiency, weaken shareholder returns, and make sustained improvement in operating performance essential.
Read all positive and negative factors
Positive Factors
Negative Factors
High Gross Margins
Sustained high gross margins indicate meaningful brand strength and pricing power across Shiseido’s beauty portfolio. This provides a durable buffer for marketing and product investment, and creates potential for improved earnings if operating discipline restores profitability.
Read all positive factors
Shiseido Company,Limited (4911) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.48T
Dividend Yield1.35%
Average Volume (3M)2.21M
Price to Earnings (P/E)―
Beta (1Y)0.74
Revenue Growth4.96%
EPS Growth-1485.59%
CountryJP
Employees26,330
SectorGeneral
Sector StrengthN/A
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)-51.36
Shares Outstanding400,000,000
10 Day Avg. Volume2,339,480
30 Day Avg. Volume2,214,610
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
¥3,709.09Price Target Upside0.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
EPS Forecast (FY)114.85
Revenue Forecast (FY)¥1.02T
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
3685.00
Price Trends
3488.98
Positive
3155.60
Positive
3039.90
Positive
Market Momentum
43.29
Negative
65.53
Neutral
82.00
Negative
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 3685 is above the 20-day moving average (MA) of 3419.55, above the 50-day MA of 3488.98, and above the 200-day MA of 3039.90, indicating a bullish trend. The MACD of 43.29 indicates Negative momentum. The RSI at 65.53 is Neutral, neither overbought nor oversold. The STOCH value of 82.00 is Negative, 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥652.25B | 19.16 | 11.29% | 1.78% | 9.67% | -2.92% | |
77 Outperform | ¥3.42T | 25.39 | 12.71% | 2.05% | 6.19% | 21.69% | |
76 Outperform | ¥500.46B | 17.70 | 8.98% | 1.57% | 6.21% | 37.97% | |
71 Outperform | ¥317.91B | 27.97 | 7.06% | 3.62% | 0.95% | 76.82% | |
68 Neutral | ¥336.54B | 24.52 | 4.90% | 2.37% | 3.22% | 358.24% | |
58 Neutral | ¥1.48T | -72.22 | ― | 1.35% | 4.96% | -1485.59% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:4911
Shiseido Company,Limited
3,709.00
992.10
36.52%
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Shiseido Company,Limited Corporate Events
Shiseido Books ¥13.5 Billion Dividend from European Subsidiary with No Consolidated Impact
Sep 3, 2026
Shiseido has disclosed that it received a ¥13,518 million dividend from its consolidated subsidiary Shiseido Europe S.A. on September 3, 2026. The transaction was significant enough under Japanese disclosure rules to require an Extraordinary ...
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...
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.