Loading…
Japanese dairy company (Snow Brand) making milk, cheese, butter and other dairy products.
Japanese dairy company (Snow Brand) making milk, cheese, butter and other dairy products.
Buys raw milk, much of it from Hokkaido dairy co-operatives, and sells it as drinks, butter and cheese through supermarkets and as ingredients to food makers, so what it pays farmers and what it earns on products set margins. It was formed in 2009 by merging Snow Brand Milk Products and Nippon Milk Community.
In one line: Japan's Land O'Lakes.
Moat: narrow (brand, scale). Established Snow Brand dairy franchise and processing scale in Japan.
Headquarters: Sapporo, Japan · Founded: 2000 · Employees: 5,844
Size MEGMILK SNOW BRAND (2270.T) is a Japan Consumer Staples company (Food: Meat/Fish/Dairy) with a market value of $1.36B, the 605th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,525 on 6 Nov 2026.
Performance Over six months the shares gained 11.6%, against -7.0% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 0.4% over the last twelve months (peer median +2.5%); the operating margin is 3.0% (peer median 2.3%).
Valuation It trades at 7.5× forward earnings against a peer median of 26.1× (cheapest of 13).
Capital Return on invested capital runs 0.5 points below its cost of capital (5.0% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥618B | ¥616B | ¥616B | ¥605B | ¥584B |
| Revenue growth | — | 0% | +2% | +4% | — |
| Gross profit | ¥105B | ¥104B | ¥102B | ¥98.3B | ¥87.2B |
| EBITDA | ¥36.4B | ¥35.9B | ¥36.6B | ¥36.2B | ¥30.4B |
| Net income | ¥38.5B | ¥32.9B | ¥13.9B | ¥19.4B | ¥9.13B |
| Free cash flow | -¥16.3B | -¥4.39B | ¥167M | ¥11.9B | ¥7.04B |
| Capital expenditure | ¥27.6B | ¥27.3B | ¥20.9B | ¥18.6B | ¥19.8B |
| Total debt | ¥41.5B | ¥46.3B | ¥55.9B | ¥58.9B | ¥69.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| MEGMILK SNOW BRAND 2270.T | $1.36B | +12% | 0% | 3% | 7.5× | n/a |
| Morinaga Milk Industry 2264.T | $2.21B | -9% | +2% | 6% | 14.4× | n/a |
| Meiji 2269.T | $7.35B | +14% | +4% | 8% | 17.2× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2270.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.1% | +0.9% | 9th highest of 21 |
| 6-month return | +11.6% | -7.0% | 9th highest of 21 |
| Distance from 52-week high | -12.8% | -23.3% | 7th highest of 21 |
| Revenue growth (TTM) | +0.4% | +2.5% | 9th lowest of 20 |
| Operating margin | 3.0% | 2.3% | 6th highest of 21 |
| Forward P/E | 7.5× | 26.1× | cheapest of 13 |
| ROIC minus cost of capital | -0.5 pp | -2.5 pp | 6th highest of 21 |
| EV / EBITDA | 6.9× | 8.5× | 3rd cheapest of 9 |
| Net debt / EBITDA | 0.9× | 2.2× | 3rd least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| MEGMILK SNOW BRAND 2270.T | Japan | $1.36B | +12% | 0% | 3% | 7.5× | n/a | n/a |
| Bega Cheese BGA.AX | Australia | $1.36B | +23% | +7% | 3% | 24.9× | 18.4% | +12.7% |
| Scandi Standard SCST.ST | Sweden | $1.35B | +38% | +8% | 5% | 27.2× | 1.8% | +7.2% |
| Bright Dairy & Food 600597.SS | China | $1.43B | -6% | -3% | 0% | 30.6× | 18.8% | -1.1% |
| Zhejiang Yiming Food 605179.SS | China | $1.27B | +22% | 0% | 2% | n/a | n/a | n/a |
| Fraser & Neave F99.SI | Singapore | $1.53B | -8% | -3% | 10% | n/a | 0.1% | +4.8% |
| Itoham Yonekyu 2296.T | Japan | $1.53B | -13% | +3% | 3% | 13.2× | n/a | n/a |
| Shanghai Milkground Food Tech 600882.SS | China | $1.55B | -1% | +26% | 4% | 32.0× | 11.1% | +14.7% |
| Shandong Oriental Ocean Sci-Tech 002086.SZ | China | $1.17B | +94% | +6% | -35% | n/a | n/a | n/a |
| NewPrinces NWL.MI | Italy | $1.16B | +40% | +81% | 1% | n/a | 0.6% | +44.5% |
| Umios 1333.T | Japan | $1.14B | -10% | +3% | 3% | n/a | n/a | n/a |
| Jinzi Ham 002515.SZ | China | $1.06B | -15% | -2% | -11% | 277.0× | n/a | n/a |
| HUANLEJIA Food 300997.SZ | China | $1.06B | -17% | +4% | 7% | 54.7× | n/a | n/a |
| Austevoll Seafood AUSS.OL | Norway | $1.79B | -8% | -1% | 7% | 11.4× | 2.5% | +11.9% |
| Beijing Sanyuan Foods 600429.SS | China | $973M | -29% | 0% | -1% | 23.4× | 24.8% | -2.8% |
| Zhejiang Huatong Meat Products 002840.SZ | China | $957M | -37% | -16% | -10% | n/a | n/a | n/a |
| Kwality Walls (India) KWIL.NS | India | $950M | +32% | n/a | -13% | n/a | n/a | n/a |
| Bell Food BELL.SW | Switzerland | $1.98B | +42% | +2% | 3% | 10.9× | 2.9% | +4.0% |
| Hunan New Wellful 600975.SS | China | $902M | -14% | -14% | -33% | n/a | n/a | n/a |
| Ezaki Glico 2206.T | Japan | $2.07B | -11% | +10% | 3% | 35.7× | 7.5% | +1.0% |
| Hilton Food HFG.L | United Kingdom | $889M | +39% | +7% | 1% | 14.1× | 18.5% | +8.7% |