Loading…
← CockpitCompetitor Analysis › 4901.T Fujifilm Holdings CorporationOpen in the cockpit ↗

Fujifilm Holdings Corporation4901.TCompetitor analysis, valuation and peers

Japan · JPY·Industrials›Medical Specialties

Diversified maker of medical imaging/diagnostics equipment, photographic film/instant cameras, and specialty materials.

≈ A reinvented Kodak that pivoted into healthcare and materialsMomentum neutral 51
Mkt cap
$24.9B
US dollars, full cap
Free float
88%
of shares outstanding
$/day
$80.8M
20-day average traded
Fwd P/E
14.1×
forward earnings
ROIC−WACC
-1.7 pp
WACC 6.3%
Hurdle
n/a
no reverse DCF
Next earnings
3 days
9 Nov 2026
Close · JPY¥3,288
1D-5.9%
1W-5.4%
1M-4.0%
3M-13.0%
6M+13.8%
YTD-0.5%
1Y-6.9%
ATR %2.5%
52w lowhigh15.9% off high

What Fujifilm does

Diversified maker of medical imaging/diagnostics equipment, photographic film/instant cameras, and specialty materials.

Reports in four groups, healthcare, electronic materials, business innovation (office equipment) and imaging, so no single product dominates. It took full control of its Xerox-branded office-equipment venture in 2019. Contract manufacturing of biologic drugs for other drugmakers sits inside healthcare.

In one line: A reinvented Kodak that pivoted into healthcare and materials.

Products and services

  • Medical systems (X-ray, endoscopy, diagnostics)
  • Imaging (instax cameras, film)
  • Electronic materials (semiconductor, display)
  • Document/office solutions

Customers

  • Hospitals/healthcare providers
  • Consumers (instax cameras)
  • Semiconductor/display manufacturers

Where it sits in the supply chain

  • Healthcare + imaging + materials
  • Diagnostics/imaging + document/office +…
  • Medical imaging, instax cameras…

What could go right

  • Healthcare imaging/diagnostics demand growth
  • Biopharma CDMO expansion

What could go wrong

  • Legacy imaging/office-document decline
  • Healthcare regulatory/reimbursement risk

Moat: narrow (IP / patents, brand, process know-how). Deep materials-science patent base let it pivot from film into medical imaging and semiconductor materials.

Headquarters: Tokyo, Japan · Founded: 1934 · Employees: 73,526

Named competitors

Fujifilm at a glance

Size Fujifilm (4901.T) is a Japan Industrials company (Medical Specialties) with a market value of $24.9B, the 70th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,288 on 6 Nov 2026.

Performance Over six months the shares gained 13.8%, against -1.9% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.

Growth Revenue grew 7.4% over the last twelve months (peer median +8.2%); the operating margin is 9.5% (peer median 8.2%).

Valuation It trades at 14.1× forward earnings against a peer median of 12.5× (8th most expensive of 21).

Capital Return on invested capital runs 1.7 points below its cost of capital (6.3% WACC).

Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).

Relative performance

10012011 May 202611 Aug 20266 Nov 20264901.T 114Peer median 92
Six months, rebased to 100: Fujifilm against the median of its 20 peers (local-currency closes).

Fujifilm financials

Reported figures in JPY; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue¥3.43T¥3.36T¥3.20T¥2.96T¥2.86T
Revenue growth—+5%+8%+4%—
Gross profit¥1.38T¥1.37T¥1.30T¥1.19T¥1.14T
EBITDA¥508B¥523B¥494B¥427B¥415B
Net income¥260B¥276B¥261B¥243B¥219B
Free cash flow-¥101B-¥111B-¥74.6B-¥10.0B-¥59.4B
Capital expenditure¥558B¥571B¥558B¥465B¥323B
Total debt¥1.11T¥1.03T¥802B¥608B¥463B

Quarterly statements and history in the cockpit →

Fujifilm competitor charts

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.

Performance: 6-month against 1-month return

-20%0%+20%-20%0%902269719020627369546301580397356326801591017013636791048053180234078002181265944901.T6-month return →1-month return →
Up and to the right = strong over both horizons. Fujifilm is the large dot.

Fundamentals: revenue growth against valuation

+5%+10%+15%+20%+25%10×15×20×9022697190206273695463015803973563268015910170136367910480531802340780024901.TRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Fujifilm is the large dot.

Fujifilm competitors and peer comparison

Head to head with its named competitors (4901.T vs 6301.T vs SHL.DE vs GEHC)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Fujifilm 4901.T$24.9B+14%+7%10%14.1×n/a
Komatsu 6301.T$32.2B-12%+9%13%13.1×9.5%
Siemens Healthineers SHL.DE$55.9B+31%-1%15%18.9×9.0%
GE HealthCare GEHC$37.2B+30%+7%14%15.4×4.3%
Eastman Kodak KODK$786M-30%+9%4%11.1×-14.7%

How Fujifilm compares with its peers

Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Fujifilm against its 20 peers (data as of 6 Nov 2026)
Measure4901.TPeer medianRank in peer set
1-month return-4.0%-8.5%7th highest of 21
6-month return+13.8%-1.9%3rd highest of 21
Distance from 52-week high-15.9%-23.2%6th highest of 21
Revenue growth (TTM)+7.4%+8.2%9th lowest of 21
Operating margin9.5%8.2%10th highest of 21
Forward P/E14.1×12.5×8th most expensive of 21
ROIC minus cost of capital-1.7 pp-1.1 pp10th lowest of 21
EV / EBITDA9.6×10.5×8th cheapest of 20
Net debt / EBITDA1.9×1.7×9th most indebted of 20

Peer table

Peer set: Sector in the same market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Fujifilm 4901.TJapan$24.9B+14%+7%10%14.1×n/an/a
Central Japan Railway 9022.TJapan$25.1B+11%+5%40%8.0×-6.8%+19.5%
Kyocera 6971.TJapan$23.4B+3%+7%6%22.5×21.3%+6.3%
East Japan Railway 9020.TJapan$27.4B+13%+9%14%15.8×n/an/a
Smc 6273.TJapan$21.9B-27%+16%24%15.9×16.2%+8.8%
Fanuc 6954.TJapan$31.2B-23%+13%23%22.0×16.9%+9.2%
Komatsu 6301.TJapan$32.2B-12%+9%13%13.1×9.5%+13.6%
Fujikura 5803.TJapan$33.0B-50%+28%19%14.3×28.9%+12.9%
Secom 9735.TJapan$18.8B+16%+4%13%22.7×-0.3%+3.9%
Kubota 6326.TJapan$18.2B0%+13%11%10.0×7.5%+10.3%
Toyota Tsusho 8015.TJapan$36.8B+2%+25%5%13.0×9.8%+12.9%
Nippon Yusen Kabushiki Kaisha 9101.TJapan$16.8B+17%0%6%9.0×7.8%+8.5%
Ihi 7013.TJapan$15.4B-20%+8%10%12.7×16.7%+8.1%
Daikin Industries 6367.TJapan$40.4B-1%+11%8%21.8×7.4%+15.0%
Mitsui O.s.k. Lines 9104.TJapan$15.0B+10%+20%6%7.3×n/an/a
Sumitomo 8053.TJapan$47.7B+9%+6%5%11.3×15.2%+9.5%
Obayashi 1802.TJapan$12.8B-20%+5%8%12.3×-1.6%+7.9%
Asahi Kasei 3407.TJapan$12.6B-3%+4%8%11.3×1.9%+7.9%
Marubeni 8002.TJapan$49.7B-22%+14%4%12.3×17.7%+5.5%
Kajima 1812.TJapan$12.5B-27%+4%8%10.8×-1.9%+10.0%
Nidec 6594.TJapan$11.7B-33%+4%-22%11.5×8.4%+10.9%

Questions

Who are Fujifilm's main competitors?
Named competitors: Canon Medical (6301.T), Siemens Healthineers (SHL.DE), GE HealthCare (GEHC), Eastman Kodak (KODK). The cockpit's measured peer set (sector in the same market, nearest in size) also includes Central Japan Railway (9022.T), Kyocera (6971.T), East Japan Railway (9020.T), Smc (6273.T), Fanuc (6954.T), Komatsu (6301.T).
Is Fujifilm expensive compared with its peers?
On forward p/e it trades at 14.1× against a peer median of 12.5×, 8th most expensive of 21 in its peer set.
How has Fujifilm stock performed?
Over six months to 6 Nov 2026 the shares returned +13.8% against -1.9% for the median peer; over one year -6.9%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.