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Japanese beer and beverage group behind the Sapporo beer brand, also holds real estate and soft-drink businesses.
Japanese beer and beverage group behind the Sapporo beer brand, also holds real estate and soft-drink businesses.
Sells beer and soft drinks mainly in Japan through supermarkets, convenience stores and restaurants, a mature market with falling beer volumes, so profit relies on price rises and a shift to premium brands. Overseas, it brews in Canada through Sleeman.
In one line: A Japanese Molson Coors with a real estate side business.
Moat: narrow (brand, distribution). Historic Sapporo beer brand recognition and nationwide distribution network.
Headquarters: Tokyo, Japan · Founded: 1876 · Employees: 6,102
Size Sapporo Breweries (2501.T) is a Japan Consumer Staples company (Beverages: Alcoholic) with a market value of $5.34B, the 229th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,162 on 6 Nov 2026.
Performance Over six months the shares gained 24.0%, against -2.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue fell 5.6% over the last twelve months (peer median -1.8%); the operating margin is 5.0% (peer median 15.6%).
Valuation It trades at 2.8× forward earnings against a peer median of 18.4× (cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +12 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.1 points below its cost of capital (5.0% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥498B | ¥507B | ¥512B | ¥519B | ¥478B |
| Revenue growth | — | -1% | -1% | +8% | — |
| Gross profit | ¥166B | ¥167B | ¥159B | ¥157B | ¥139B |
| EBITDA | ¥45.4B | ¥47.8B | ¥39.4B | ¥38.3B | ¥31.0B |
| Net income | ¥313B | ¥19.5B | ¥7.71B | ¥8.72B | ¥5.45B |
| Free cash flow | ¥24.6B | ¥32.7B | ¥18.4B | ¥29.0B | -¥226M |
| Capital expenditure | ¥14.2B | ¥13.3B | ¥19.5B | ¥18.4B | ¥9.62B |
| Total debt | ¥148B | ¥199B | ¥237B | ¥246B | ¥263B |
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 |
|---|---|---|---|---|---|---|
| Sapporo Breweries 2501.T | $5.34B | +24% | -6% | 5% | 2.8× | 14.8% |
| Asahi Group Hldgs 2502.T | $16.4B | +10% | +3% | 9% | 13.1× | 1.8% |
| Kirin 2503.T | $15.2B | +21% | +6% | 11% | 13.7× | -4.2% |
| Suntory Beverage & Food 2587.T | $9.58B | +9% | +7% | 9% | 17.2× | -7.5% |
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 | 2501.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.3% | +6.1% | 5th highest of 21 |
| 6-month return | +24.0% | -2.3% | 6th highest of 21 |
| Distance from 52-week high | -7.6% | -20.2% | 5th highest of 21 |
| Revenue growth (TTM) | -5.6% | -1.8% | 6th lowest of 20 |
| Operating margin | 5.0% | 15.6% | 3rd lowest of 20 |
| Forward P/E | 2.8× | 18.4× | cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 14.8% | -1.5% | 3rd most demanding of 16 |
| Growth delivered (Del g) | +3.1% | +6.9% | 5th lowest of 16 |
| Hurdle (Req g minus delivered) | +11.7 pp | -7.9 pp | 3rd most demanding of 16 |
| ROIC minus cost of capital | -2.1 pp | +5.2 pp | 6th lowest of 20 |
| EV / EBITDA | 20.2× | 13.4× | 5th most expensive of 12 |
| Net debt / EBITDA | 1.6× | 2.2× | 6th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sapporo Breweries 2501.T | Japan | $5.34B | +24% | -6% | 5% | 2.8× | 14.8% | +3.1% |
| Anhui Yingjia Distillery 603198.SS | China | $5.35B | +17% | 0% | 41% | 17.1× | 5.3% | +11.7% |
| Beijing Yanjing Brewery 000729.SZ | China | $4.82B | -14% | +7% | 16% | 15.7× | -4.2% | +7.3% |
| Radico Khaitan RADICO.NS | India | $6.37B | +33% | +16% | 17% | 66.7× | 45.1% | +20.5% |
| Jiangsu King's Luck Brewery Joint-stock 603369.SS | China | $6.40B | +25% | -5% | 33% | 16.2× | 1.9% | +15.3% |
| Anhui Gujing Distillery 000596.SZ | China | $7.29B | -2% | -28% | 17% | 21.5× | 4.3% | +12.7% |
| Molson Coors Canada TPX-B.TO | Canada | $7.38B | -12% | n/a | n/a | n/a | n/a | n/a |
| Takara 2531.T | Japan | $3.84B | +75% | +9% | 4% | 34.6× | n/a | n/a |
| Molson Coors Beverage TAP | United States | $7.54B | -4% | -2% | 12% | 9.2× | -4.7% | +2.9% |
| Treasury Wine Estates TWE.AX | Australia | $3.56B | +52% | -12% | 17% | 18.4× | 9.3% | -0.4% |
| ZJLD 6979.HK | Hong Kong | $3.41B | -3% | -29% | 13% | 27.6× | n/a | n/a |
| Royal Unibrew A/S RBREW.CO | Denmark | $3.37B | +11% | +3% | 14% | 13.3× | -7.1% | +16.5% |
| Jiangsu Yanghe Distillery 002304.SZ | China | $8.50B | -23% | -31% | 4% | 32.6× | n/a | n/a |
| Thai Beverage Public Y92.SI | Singapore | $8.56B | +2% | -8% | 13% | 10.6× | -4.7% | +3.2% |
| United Breweries UBL.NS | India | $3.33B | -17% | +7% | 6% | 65.9× | n/a | n/a |
| China Res Beer 0291.HK | Hong Kong | $8.66B | -18% | +3% | 15% | 10.7× | -1.5% | +3.1% |
| Davide Campari-Milano CPR.MI | Italy | $8.93B | +22% | -1% | 20% | 21.0× | 3.6% | +11.5% |
| Tsingtao Brewery 600600.SS | China | $9.03B | -16% | -4% | 16% | 16.2× | -5.1% | +3.4% |
| Remy Cointreau RCO.PA | France | $3.08B | +30% | -5% | 16% | 29.2× | 17.0% | -1.5% |
| Guangzhou Zhujiang Brewery 002461.SZ | China | $2.91B | -15% | +2% | 15% | 19.8× | -5.8% | +6.9% |
| Chongqing Brewery 600132.SS | China | $2.88B | -28% | -4% | 20% | 17.3× | -8.9% | +6.2% |