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Japan's largest pharmaceutical company, selling drugs for gastroenterology, rare disease, oncology and neuroscience worldwide.
Japan's largest pharmaceutical company, selling drugs for gastroenterology, rare disease, oncology and neuroscience worldwide.
Sells patented medicines through its own sales teams, with most revenue from outside Japan and the US the largest market, so a handful of drugs carry much of the total. The 2019 purchase of Shire, which brought rare-disease and plasma businesses, turned it into a mostly overseas company and left the debt and cost cutting that followed.
Moat: narrow (IP / patents, scale, distribution). Global sales infrastructure and patented blockbusters, but faces looming patent expiries.
Headquarters: Tokyo, Japan · Founded: 1781 · Employees: 47,029
Size Takeda Pharmaceutical (4502.T) is a Japan Health Care company (Pharmaceuticals: Major) with a market value of $66.4B, the 23rd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥6,560 on 6 Nov 2026.
Performance Over six months the shares gained 24.5%, against +15.8% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 6.2% over the last twelve months (peer median +11.2%); the operating margin is 17.9% (peer median 24.0%).
Valuation It trades at 42.1× forward earnings against a peer median of 17.2× (3rd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.0 points above its cost of capital (5.0% WACC).
Backlog Backlog (remaining performance obligations) was ¥23.6B at 31 Mar 2025, up 184% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Credit Takeda Pharmaceutical has 17 bonds outstanding ($21.5B), rated BBB+ by the agencies and trading like A- at a weighted spread of 84 bp.
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥4.69T | ¥4.51T | ¥4.58T | ¥4.26T | ¥4.03T |
| Revenue growth | — | -2% | +7% | +6% | — |
| Gross profit | ¥2.68T | ¥2.44T | ¥2.46T | ¥2.32T | ¥2.30T |
| EBITDA | ¥1.52T | ¥1.35T | ¥1.39T | ¥1.26T | ¥1.32T |
| Net income | ¥40.8B | -¥152B | ¥108B | ¥144B | ¥317B |
| Free cash flow | ¥577B | ¥763B | ¥762B | ¥465B | ¥737B |
| Capital expenditure | ¥442B | ¥411B | ¥348B | ¥481B | ¥634B |
| Total debt | ¥4.58T | ¥5.48T | ¥5.09T | ¥5.46T | ¥4.86T |
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 |
|---|---|---|---|---|---|---|
| Takeda Pharmaceutical 4502.T | $66.4B | +24% | +6% | 18% | 42.1× | 3.0% |
| Astellas Pharma 4503.T | $28.2B | +11% | +19% | 23% | 11.6× | -11.0% |
| Daiichi Sankyo 4568.T | $31.9B | +7% | +17% | 13% | 18.6× | 7.2% |
| AbbVie ABBV | $515B | +45% | +11% | 36% | 18.4× | -0.1% |
| Pfizer PFE | $168B | +14% | +1% | 26% | 10.4× | -4.3% |
| Novartis NOVN.SW | $298B | +15% | -4% | 30% | 18.4× | 1.7% |
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 | 4502.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.7% | +9.3% | 7th highest of 21 |
| 6-month return | +24.5% | +15.8% | 7th highest of 21 |
| Distance from 52-week high | -6.1% | -9.3% | 8th highest of 21 |
| Revenue growth (TTM) | +6.2% | +11.2% | 10th lowest of 21 |
| Operating margin | 17.9% | 24.0% | 7th lowest of 21 |
| Forward P/E | 42.1× | 17.2× | 3rd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 3.0% | 6.7% | 8th least demanding of 21 |
| Growth delivered (Del g) | +7.1% | +5.1% | 10th highest of 21 |
| Hurdle (Req g minus delivered) | -4.1 pp | -3.0 pp | 11th least demanding of 21 |
| ROIC minus cost of capital | +0.0 pp | +5.5 pp | 2nd lowest of 21 |
| EV / EBITDA | 9.6× | 13.3× | 5th cheapest of 19 |
| Net debt / EBITDA | 2.7× | 1.5× | 3rd most indebted of 19 |
| Bond spread | 84 bp | 75 bp | 6th widest of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Takeda Pharmaceutical 4502.T | Japan | $66.4B | +24% | +6% | 18% | 42.1× | 3.0% | +7.1% |
| Wuxi Apptec 2359.HK | Hong Kong | $66.3B | +40% | +38% | 44% | 20.4× | 8.7% | +20.4% |
| Chugai Pharmaceutical 4519.T | Japan | $71.0B | -15% | +17% | 50% | 22.1× | 3.6% | +9.8% |
| Bayer BAYN.DE | Germany | $61.2B | +46% | -2% | 14% | 12.3× | 2.1% | +1.9% |
| Merck KGaA MRK.DE | Germany | $72.5B | +23% | 0% | 20% | 17.5× | 7.7% | +3.8% |
| Galderma GALD.SW | Switzerland | $54.8B | +17% | +16% | 19% | 48.1× | 18.4% | +6.4% |
| Jiangsu Hengrui Pharmaceuticals 600276.SS | China | $49.7B | -6% | +6% | 27% | 36.4× | 14.9% | +2.7% |
| Sun Pharmaceutical Industries SUNPHARMA.NS | India | $47.3B | +1% | +12% | 23% | 35.4× | 28.4% | +11.7% |
| Regeneron Pharmaceuticals REGN | United States | $93.5B | +27% | +19% | 30% | 11.3× | -2.2% | +11.0% |
| BeOne Medicines 688235.SS | China | $45.8B | +19% | +28% | 15% | 74.5× | 23.3% | +79.3% |
| Sandoz SDZ.SW | Switzerland | $44.4B | +24% | +1% | 15% | 25.3× | 7.9% | +0.4% |
| GSK GSK.L | United Kingdom | $102B | 0% | +4% | 25% | 10.6× | -0.1% | -0.9% |
| Haleon HLN.L | United Kingdom | $40.1B | +1% | +1% | 23% | 16.3× | 4.6% | +2.2% |
| Sanofi SAN.PA | France | $113B | +14% | +15% | 27% | 9.6× | -5.4% | +3.9% |
| Royalty Pharma RPRX | United States | $38.8B | +33% | +11% | 66% | 11.3× | 9.9% | +2.3% |
| Otsuka Hldgs 4578.T | Japan | $38.6B | +2% | +11% | 18% | 16.3× | 0.4% | +11.7% |
| Biogen BIIB | United States | $36.7B | +28% | +2% | 17% | 16.8× | 9.4% | -5.1% |
| Bristol Myers Squibb BMY | United States | $127B | +12% | +4% | 33% | 9.7× | -12.9% | +2.5% |
| Zoetis ZTS | United States | $32.8B | -4% | +1% | 38% | 12.8× | -4.3% | +7.2% |
| Daiichi Sankyo 4568.T | Japan | $31.9B | +7% | +17% | 13% | 18.6× | 7.2% | +17.1% |
| Vertex Pharmaceuticals VRTX | United States | $139B | +27% | +11% | 35% | 29.0× | 6.1% | +14.2% |
Takeda Pharmaceutical has 17 bonds outstanding with $21.5B face value. The agencies rate it BBB+; its bonds trade like A-. Weighted yield 5.24%, a spread of 84 bp over government bonds.
Takeda Pharmaceutical reported ¥23.6B of remaining performance obligations at 31 Mar 2025, up 184% from a year earlier. That is 0.0 years of trailing revenue already under contract.