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Japanese pharma selling drugs for prostate cancer (Xtandi), urology, transplant and ophthalmology.
Japanese pharma selling drugs for prostate cancer (Xtandi), urology, transplant and ophthalmology.
Sells branded prescription drugs through its own sales teams in Japan, Europe and elsewhere, while in the US it shares Xtandi and Padcev profit with Pfizer. Xtandi has long carried the company and faces patent expiry later this decade, so newer launches such as Veozah (menopausal hot flashes) and Izervay (an eye disease) matter.
Moat: narrow (IP / patents, distribution). Global partnership drugs (Xtandi with Pfizer, Padcev with Seagen) but facing upcoming patent cliffs.
Headquarters: Tokyo, Japan · Founded: 2005 · Employees: 14,099
Size Astellas Pharma (4503.T) is a Japan Health Care company (Pharmaceuticals: Major) with a market value of $28.2B, the 56th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,472 on 6 Nov 2026.
Performance Over six months the shares gained 10.7%, against +11.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 18.6% over the last twelve months (peer median +15.6%); the operating margin is 23.4% (peer median 17.5%).
Valuation It trades at 11.6× forward earnings against a peer median of 20.4× (3rd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 12.6 points above its cost of capital (5.2% WACC).
Next results Next results expected around 8 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥2.38T | ¥2.14T | ¥1.91T | ¥1.60T | ¥1.52T |
| Revenue growth | — | +12% | +19% | +6% | — |
| Gross profit | ¥1.78T | ¥1.59T | ¥1.43T | ¥1.21T | ¥1.19T |
| EBITDA | ¥755B | ¥614B | ¥455B | ¥336B | ¥391B |
| Net income | ¥386B | ¥292B | ¥50.7B | ¥17.0B | ¥98.7B |
| Free cash flow | ¥497B | ¥509B | ¥165B | ¥143B | ¥296B |
| Capital expenditure | ¥111B | ¥84.6B | ¥57.3B | ¥82.5B | ¥88.5B |
| Total debt | ¥425B | ¥672B | ¥937B | ¥1.01T | ¥200B |
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 |
|---|---|---|---|---|---|---|
| Astellas Pharma 4503.T | $28.2B | +11% | +19% | 23% | 11.6× | -11.0% |
| Takeda Pharmaceutical 4502.T | $66.4B | +24% | +6% | 18% | 42.1× | 3.0% |
| Daiichi Sankyo 4568.T | $31.9B | +7% | +17% | 13% | 18.6× | 7.2% |
| Pfizer PFE | $168B | +14% | +1% | 26% | 10.4× | -4.3% |
| Bayer BAYN.DE | $61.2B | +46% | -2% | 14% | 12.3× | 2.1% |
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 | 4503.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.2% | +8.1% | 10th highest of 21 |
| 6-month return | +10.7% | +11.2% | 11th highest of 21 |
| Distance from 52-week high | -10.2% | -9.6% | 10th lowest of 21 |
| Revenue growth (TTM) | +18.6% | +15.6% | 9th highest of 21 |
| Operating margin | 23.4% | 17.5% | 7th highest of 21 |
| Forward P/E | 11.6× | 20.4× | 3rd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -11.0% | 9.1% | least demanding of 19 |
| Growth delivered (Del g) | +11.4% | +11.5% | 10th highest of 19 |
| Hurdle (Req g minus delivered) | -22.3 pp | -0.9 pp | 3rd least demanding of 19 |
| ROIC minus cost of capital | +12.6 pp | +4.7 pp | 8th highest of 21 |
| EV / EBITDA | 6.1× | 20.6× | cheapest of 19 |
| Net debt / EBITDA | 0.2× | 0.3× | 10th least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Astellas Pharma 4503.T | Japan | $28.2B | +11% | +19% | 23% | 11.6× | -11.0% | +11.4% |
| Roivant Sciences ROIV | United States | $28.1B | +36% | -68% | -18,146% | n/a | n/a | n/a |
| Divi's Laboratories DIVISLAB.NS | India | $29.0B | +54% | +16% | 31% | 82.0× | 50.9% | +8.9% |
| Hansoh Pharma 3692.HK | Hong Kong | $26.9B | -7% | +25% | 38% | 27.5× | 8.9% | +10.8% |
| Insmed INSM | United States | $25.1B | -16% | +240% | -42% | n/a | n/a | n/a |
| Daiichi Sankyo 4568.T | Japan | $31.9B | +7% | +17% | 13% | 18.6× | 7.2% | +17.1% |
| Incyte INCY | United States | $24.4B | +21% | +25% | 12% | 15.4× | 14.2% | +14.0% |
| Zoetis ZTS | United States | $32.8B | -4% | +1% | 38% | 12.8× | -4.3% | +7.2% |
| Viatris VTRS | United States | $22.9B | +17% | +5% | 10% | 7.5× | 12.5% | +3.7% |
| Sigma Healthcare SIG.AX | Australia | $22.4B | -1% | +209% | 9% | 37.1× | 28.2% | +26.1% |
| Biogen BIIB | United States | $36.7B | +28% | +2% | 17% | 16.8× | 9.4% | -5.1% |
| Alnylam Pharmaceuticals ALNY | United States | $20.9B | -47% | +56% | 20% | 22.2× | 0.9% | +49.8% |
| Otsuka Hldgs 4578.T | Japan | $38.6B | +2% | +11% | 18% | 16.3× | 0.4% | +11.7% |
| Royalty Pharma RPRX | United States | $38.8B | +33% | +11% | 66% | 11.3× | 9.9% | +2.3% |
| Haleon HLN.L | United Kingdom | $40.1B | +1% | +1% | 23% | 16.3× | 4.6% | +2.2% |
| Innovent Biologics 1801.HK | Hong Kong | $19.2B | -5% | +43% | 17% | 53.3× | 11.7% | +26.8% |
| Torrent Pharmaceuticals TORNTPHARM.NS | India | $19.1B | +9% | +42% | 22% | 72.2× | 37.9% | +11.3% |
| Sandoz SDZ.SW | Switzerland | $44.4B | +24% | +1% | 15% | 25.3× | 7.9% | +0.4% |
| Swedish Orphan Biovitrum SOBI.ST | Sweden | $17.6B | +13% | +15% | 30% | 25.5× | -1.1% | +13.1% |
| BeOne Medicines 688235.SS | China | $45.8B | +19% | +28% | 15% | 74.5× | 23.3% | +79.3% |
| Exelixis EXEL | United States | $17.0B | +44% | +9% | 40% | 18.2× | -3.7% | +18.6% |