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Leading Japanese maker of tomato ketchup, tomato juice and vegetable/fruit juice drinks.
Leading Japanese maker of tomato ketchup, tomato juice and vegetable/fruit juice drinks.
Sells branded sauces and juices through supermarkets, and uses its own tomato processing as the base for ingredient sales to food manufacturers. Tomatoes come from contract farmers in Japan and from its overseas processing operations.
In one line: Japan's Heinz for tomato products.
Moat: narrow (brand, scale). Dominant tomato-product brand and vertically integrated tomato processing scale in Japan.
Headquarters: Nagoya, Japan · Founded: 1899 · Employees: 3,253
Size Kagome (2811.T) is a Japan Consumer Staples company (Food: Specialty/Candy) with a market value of $1.51B, the 576th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,758 on 6 Nov 2026.
Performance Over six months the shares gained 2.6%, against -13.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 2.6% over the last twelve months (peer median +4.2%); the operating margin is 6.5% (peer median 6.9%).
Valuation It trades at 24.0× forward earnings against a peer median of 19.5× (7th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.3 points below its cost of capital (5.0% WACC).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥305B | ¥294B | ¥307B | ¥225B | ¥206B |
| Revenue growth | — | -4% | +37% | +9% | — |
| Gross profit | ¥97.0B | ¥92.6B | ¥96.7B | ¥77.9B | ¥69.2B |
| EBITDA | ¥32.0B | ¥34.2B | ¥38.8B | ¥25.5B | ¥20.2B |
| Net income | ¥12.7B | ¥14.8B | ¥25.0B | ¥10.4B | ¥9.12B |
| Free cash flow | ¥12.9B | ¥15.5B | ¥20.7B | -¥1.81B | -¥5.24B |
| Capital expenditure | ¥10.6B | ¥11.4B | ¥10.9B | ¥6.43B | ¥9.88B |
| Total debt | ¥81.6B | ¥85.2B | ¥74.8B | ¥66.6B | ¥44.8B |
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 |
|---|---|---|---|---|---|---|
| Kagome 2811.T | $1.51B | +3% | +3% | 7% | 24.0× | 2.2% |
| Kraft Heinz KHC | $29.2B | +5% | -2% | 17% | 12.5× | -3.9% |
| ITO EN,Ltd 2593.T | $2.12B | +14% | +5% | 5% | 26.0× | 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 | 2811.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.7% | +2.3% | 6th highest of 21 |
| 6-month return | +2.6% | -13.1% | 8th highest of 21 |
| Distance from 52-week high | -5.6% | -23.9% | 3rd highest of 21 |
| Revenue growth (TTM) | +2.6% | +4.2% | 9th lowest of 21 |
| Operating margin | 6.5% | 6.9% | 11th highest of 21 |
| Forward P/E | 24.0× | 19.5× | 7th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 2.2% | 7.8% | 6th least demanding of 17 |
| Growth delivered (Del g) | +10.0% | +6.5% | 5th highest of 17 |
| Hurdle (Req g minus delivered) | -7.8 pp | -6.7 pp | 8th least demanding of 17 |
| ROIC minus cost of capital | -0.3 pp | +1.5 pp | 7th lowest of 21 |
| EV / EBITDA | 10.1× | 10.8× | 7th cheapest of 14 |
| Net debt / EBITDA | 2.0× | 0.7× | 4th most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kagome 2811.T | Japan | $1.51B | +3% | +3% | 7% | 24.0× | 2.2% | +10.0% |
| NIPPN 2001.T | Japan | $1.50B | +8% | +2% | 5% | 11.3× | n/a | n/a |
| Chacha Food 002557.SZ | China | $1.46B | -17% | +8% | 8% | 15.8× | n/a | n/a |
| Sanquan Foods 002216.SZ | China | $1.56B | -18% | +7% | 5% | 18.1× | 2.6% | -1.1% |
| Qianhe Condiment & Food 603027.SS | China | $1.43B | -21% | -6% | 14% | 23.9× | 3.1% | +8.8% |
| Flowers Foods FLO | United States | $1.42B | -20% | +2% | 6% | 8.8× | -7.6% | +3.7% |
| Yantai China Pet Foods 002891.SZ | China | $1.39B | -15% | +21% | 4% | 32.6× | n/a | n/a |
| Nomad Foods NOMD | United States | $1.64B | +24% | +3% | 13% | 7.3× | -4.1% | +3.6% |
| Three Squirrels 300783.SZ | China | $1.66B | -12% | -13% | 2% | 21.5× | 19.5% | +0.8% |
| CCL Products (India) CCL.NS | India | $1.37B | -20% | +24% | 13% | 25.8× | 17.9% | +29.1% |
| J & J Snack Foods JJSF | United States | $1.68B | +18% | -5% | 6% | 24.1× | 6.8% | +9.1% |
| Huabao International 0336.HK | Hong Kong | $1.34B | -25% | +13% | 3% | 25.3× | 16.2% | -2.7% |
| Fufeng 0546.HK | Hong Kong | $1.31B | -37% | +1% | 4% | 7.4× | n/a | n/a |
| Corbion CRBN.AS | Netherlands | $1.73B | +37% | -3% | 8% | 19.6× | 11.5% | +5.1% |
| Nongshim 004370.KS | South Korea | $1.74B | +8% | +5% | 6% | 11.8× | -16.1% | +5.9% |
| Manorama Industries MANORAMA.NS | India | $1.31B | +22% | +60% | 24% | 39.3× | 33.4% | +46.9% |
| Morinaga & 2201.T | Japan | $1.28B | -8% | +3% | 9% | 12.3× | -5.7% | +7.1% |
| Bikaji Foods International BIKAJI.NS | India | $1.27B | -29% | +14% | 10% | 37.4× | 38.6% | +17.5% |
| Cloetta CLA-B.ST | Sweden | $1.82B | +16% | 0% | 14% | 20.9× | -0.3% | +8.4% |
| Anhui Jinhe Industrial 002597.SZ | China | $1.83B | -8% | +22% | 4% | 19.4× | 10.3% | +6.0% |
| Shandong Bailong Chuangyuan Bio-Tech 605016.SS | China | $1.24B | -28% | +19% | 32% | 18.4× | 8.8% | +22.5% |