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Global cosmetics company selling prestige skincare, makeup and fragrance brands worldwide.
Global cosmetics company selling prestige skincare, makeup and fragrance brands worldwide.
Sells through department stores, specialty shops, travel retail and its own online stores, with skincare the profit mainstay. In 2021 it sold its mass-market personal-care brands to CVC to focus on prestige beauty. Results lean on shoppers from China and on duty-free sales.
In one line: Japan's Estée Lauder.
Moat: narrow (brand, distribution). Portfolio of globally recognized prestige beauty brands with wide retail distribution.
Headquarters: Tokyo, Japan · Founded: 1872 · Employees: 26,330
Size Shiseido (4911.T) is a Japan Consumer Staples company (Household/Personal Care) with a market value of $9.52B, the 145th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,759 on 6 Nov 2026.
Performance Over six months the shares gained 19.6%, against +15.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 5.0% over the last twelve months (peer median +7.5%); the operating margin is 3.8% (peer median 14.6%).
Valuation It trades at 32.8× forward earnings against a peer median of 23.8× (4th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +16 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 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥999B | ¥970B | ¥991B | ¥973B | ¥1.07T |
| Revenue growth | — | -2% | +2% | -9% | — |
| Gross profit | ¥773B | ¥743B | ¥753B | ¥713B | ¥744B |
| EBITDA | ¥111B | ¥89.2B | ¥76.6B | ¥92.2B | ¥98.2B |
| Net income | -¥20.5B | -¥40.7B | -¥10.8B | ¥21.8B | ¥34.2B |
| Free cash flow | ¥58.1B | ¥65.5B | -¥2.31B | ¥33.4B | ¥16.8B |
| Capital expenditure | ¥45.6B | ¥44.4B | ¥50.7B | ¥55.7B | ¥66.2B |
| Total debt | ¥337B | ¥323B | ¥363B | ¥281B | ¥297B |
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 |
|---|---|---|---|---|---|---|
| Shiseido 4911.T | $9.52B | +20% | +5% | 4% | 32.8× | 17.5% |
| Estée Lauder Companies (The) EL | $39.9B | +28% | +6% | 13% | 31.1× | 16.8% |
| L'Oreal OR.PA | $268B | +25% | +3% | 21% | 32.8× | 18.1% |
| Amorepacific 090430.KS | $6.03B | -1% | +10% | 9% | 23.8× | 4.0% |
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 | 4911.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +16.8% | +9.8% | 5th highest of 21 |
| 6-month return | +19.6% | +15.2% | 7th highest of 21 |
| Distance from 52-week high | -8.7% | -9.9% | 11th highest of 21 |
| Revenue growth (TTM) | +5.0% | +7.5% | 9th lowest of 21 |
| Operating margin | 3.8% | 14.6% | lowest of 21 |
| Forward P/E | 32.8× | 23.8× | 4th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 17.5% | 4.0% | 6th most demanding of 20 |
| Growth delivered (Del g) | +1.0% | +6.6% | 3rd lowest of 20 |
| Hurdle (Req g minus delivered) | +16.4 pp | -2.8 pp | 5th most demanding of 20 |
| ROIC minus cost of capital | -2.1 pp | +5.7 pp | 3rd lowest of 20 |
| EV / EBITDA | 15.8× | 13.8× | 9th most expensive of 18 |
| Net debt / EBITDA | 2.1× | -0.2× | 4th most indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shiseido 4911.T | Japan | $9.52B | +20% | +5% | 4% | 32.8× | 17.5% | +1.0% |
| Godrej Consumer Products GODREJCP.NS | India | $9.19B | -18% | +12% | 18% | 37.0× | 31.7% | +6.6% |
| Clorox CLX | United States | $12.1B | +8% | +6% | 14% | 17.4× | 2.7% | -1.8% |
| Unicharm 8113.T | Japan | $12.1B | +15% | 0% | 12% | 24.5× | -2.0% | +5.4% |
| Marico MARICO.NS | India | $12.3B | +8% | +20% | 16% | 51.8× | 28.0% | +11.1% |
| Puig Brands PUIG.MC | Spain | $12.5B | +16% | +4% | 16% | 17.9× | -3.0% | +11.7% |
| Dabur India DABUR.NS | India | $7.13B | -19% | +9% | 15% | 32.1× | 27.3% | +6.6% |
| APR 278470.KS | South Korea | $7.04B | -40% | +119% | 23% | 17.4× | -1.4% | +47.3% |
| e.l.f. Beauty ELF | United States | $6.85B | +91% | +31% | 12% | 35.4× | 27.9% | +38.8% |
| Amorepacific 090430.KS | South Korea | $6.03B | -1% | +10% | 9% | 23.8× | 4.0% | -0.8% |
| Reynolds Consumer Products REYN | United States | $5.08B | +10% | +2% | 14% | 14.6× | -0.2% | +2.7% |
| Mao Geping Cosmetics 1318.HK | Hong Kong | $4.92B | -28% | +32% | 31% | 15.0× | 4.7% | +41.1% |
| Cupid CUPID.NS | India | $4.83B | +158% | +122% | 34% | n/a | n/a | n/a |
| Colgate-Palmolive (India) COLPAL.NS | India | $4.83B | -23% | +9% | 28% | 32.2× | 30.8% | +4.5% |
| Essity ESSITY-A.ST | Sweden | $19.9B | +17% | -2% | 12% | 15.4× | -3.3% | +2.6% |
| Beiersdorf BEI.DE | Germany | $20.4B | +21% | -2% | 12% | 22.6× | -2.3% | +7.0% |
| Interparfums IPAR | United States | $4.34B | +43% | +3% | 17% | 29.0× | 10.9% | +22.5% |
| Kao 4452.T | Japan | $21.8B | +33% | +6% | 10% | 24.4× | 1.5% | +4.1% |
| Rohto Pharmaceutical 4527.T | Japan | $3.97B | +17% | +10% | 12% | 16.7× | -2.1% | +13.7% |
| Coty COTY | United States | $3.57B | +64% | -1% | 5% | 13.3× | 11.3% | +4.6% |
| Church & Dwight CHD | United States | $25.8B | +17% | +2% | 18% | 27.4× | 6.9% | +4.8% |