Employees: 4,963
Size Earth (4985.T) is a Japan Health Care company (Pharmaceuticals: Major) with a market value of $682M, the 915th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,840 on 6 Nov 2026.
Performance Over six months the shares gained 5.7%, against -6.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 6.1% over the last twelve months (peer median +17.7%); the operating margin is 4.2% (peer median 11.1%).
Valuation It trades at 17.7× forward earnings against a peer median of 23.9× (5th cheapest of 9).
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 -2%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥186B | ¥179B | ¥169B | ¥158B | ¥152B |
| Revenue growth | — | +6% | +7% | +4% | — |
| Gross profit | ¥74.6B | ¥72.6B | ¥66.8B | ¥61.8B | ¥60.6B |
| EBITDA | ¥12.7B | ¥12.8B | ¥11.0B | ¥10.6B | ¥11.7B |
| Net income | ¥4.66B | ¥5.24B | ¥3.48B | ¥4.10B | ¥5.30B |
| Free cash flow | n/a | ¥7.85B | ¥10.1B | ¥3.08B | -¥992M |
| Capital expenditure | n/a | ¥4.17B | ¥4.77B | ¥6.04B | ¥5.89B |
| Total debt | ¥11.6B | ¥7.92B | ¥5.24B | ¥10.2B | ¥2.40B |
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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 | 4985.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.2% | -7.6% | 5th highest of 21 |
| 6-month return | +5.7% | -6.1% | 7th highest of 21 |
| Distance from 52-week high | -8.0% | -29.1% | highest of 21 |
| Revenue growth (TTM) | +6.1% | +17.7% | 5th lowest of 17 |
| Operating margin | 4.2% | 11.1% | 4th lowest of 17 |
| Forward P/E | 17.7× | 23.9× | 5th cheapest of 9 |
| Growth the price implies (Req g, 7 yrs) | -2.5% | 10.3% | least demanding of 10 |
| Growth delivered (Del g) | -1.8% | +10.1% | 2nd lowest of 10 |
| Hurdle (Req g minus delivered) | -0.7 pp | +15.6 pp | 3rd least demanding of 10 |
| ROIC minus cost of capital | +1.3 pp | -3.2 pp | 4th highest of 15 |
| EV / EBITDA | 8.2× | 12.7× | 4th cheapest of 9 |
| Net debt / EBITDA | -0.7× | -1.1× | 3rd most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Earth 4985.T | Japan | $682M | +6% | +6% | 4% | 17.7× | -2.5% | -1.8% |
| Hubei Biocause Heilen Pharmaceutical 301211.SZ | China | $682M | -5% | +13% | 4% | n/a | n/a | n/a |
| Nuvectis Pharma NVCT | United States | $683M | +79% | n/a | n/a | n/a | n/a | n/a |
| Mochida Pharmaceutical 4534.T | Japan | $683M | -6% | +15% | 9% | 15.2× | n/a | n/a |
| Hunan Fangsheng Pharmaceutical 603998.SS | China | $678M | -6% | +10% | 19% | 12.7× | -2.4% | +6.4% |
| Jenkem Technology 688356.SS | China | $686M | -23% | +52% | 11% | 36.8× | 41.4% | +11.2% |
| Shandong Wit Dyne Health 000915.SZ | China | $687M | -33% | -36% | 36% | 9.1× | n/a | n/a |
| Center Laboratories 4123.TWO | Taiwan | $676M | -28% | +4% | 5% | n/a | 50.8% | +16.2% |
| Zevra Therapeutics ZVRA | United States | $690M | +4% | +75% | 31% | 11.8× | 0.0% | +51.6% |
| FDC FDC.NS | India | $672M | +4% | +10% | 14% | n/a | 25.9% | +10.3% |
| Achieve Life Sciences ACHV | United States | $692M | +29% | n/a | n/a | n/a | n/a | n/a |
| Beijing Beilu Pharmaceutical 300016.SZ | China | $692M | -16% | +23% | 11% | 88.2× | 10.3% | +7.9% |
| Sagimet Biosciences SGMT | United States | $693M | +28% | n/a | n/a | n/a | n/a | n/a |
| Philogen PHIL.MI | Italy | $694M | -7% | +295% | 79% | 32.5× | n/a | n/a |
| Immix Biopharma IMMX | United States | $668M | -17% | n/a | n/a | n/a | n/a | n/a |
| Zhejiang Wecome Pharmaceutical 300878.SZ | China | $666M | +10% | +40% | -65% | n/a | n/a | n/a |
| Bliss GVS Pharma BLISSGVS.NS | India | $698M | +126% | +21% | 15% | n/a | 37.0% | +10.1% |
| Sun Pharma Advanced Research SPARC.NS | India | $665M | +16% | +3,141% | 84% | n/a | n/a | n/a |
| Luoxin Pharmaceuticals Group Stock 002793.SZ | China | $664M | -26% | -10% | -9% | n/a | 0.3% | -17.9% |
| Lepu Biopharma 2157.HK | Hong Kong | $663M | -45% | +47% | 7% | 61.2× | n/a | n/a |
| Shandong Jincheng Pharmaceutical 300233.SZ | China | $661M | -25% | +2% | 4% | n/a | 1.1% | -1.6% |