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One of Japan's largest pharmaceutical wholesalers, distributing drugs from manufacturers to hospitals and pharmacies.
One of Japan's largest pharmaceutical wholesalers, distributing drugs from manufacturers to hospitals and pharmacies.
Buys drugs from makers and resells them to hospitals and pharmacies for a thin markup, so profit depends on volume, delivery efficiency and payment terms more than on price. Reimbursement prices are set by the government and cut regularly, which squeezes wholesale margins. It is one of the handful of national-scale wholesalers.
In one line: Japan's McKesson.
Moat: narrow (scale, distribution, regulatory licence). Nationwide licensed distribution network and scale purchasing in a low-margin, logistics-heavy business.
Headquarters: Tokyo, Japan · Founded: 1948 · Employees: 13,024
Size MEDIPAL (7459.T) is a Japan Health Care company (Medical Distributors) with a market value of $3.67B, the 312th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,194 on 6 Nov 2026.
Performance Over six months the shares gained 13.7%, against +4.7% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 4.2% over the last twelve months (peer median +6.2%); the operating margin is 1.4% (peer median 3.2%).
Valuation It trades at 12.6× forward earnings against a peer median of 17.4× (3rd cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥3.86T | ¥3.82T | ¥3.67T | ¥3.56T | ¥3.36T |
| Revenue growth | — | +4% | +3% | +6% | — |
| Gross profit | ¥248B | ¥247B | ¥242B | ¥233B | ¥212B |
| EBITDA | ¥80.8B | ¥71.8B | ¥74.0B | ¥65.3B | ¥63.6B |
| Net income | ¥46.6B | ¥42.5B | ¥40.3B | ¥41.5B | ¥38.8B |
| Free cash flow | n/a | ¥42.8B | ¥51.7B | ¥46.3B | ¥5.66B |
| Capital expenditure | n/a | ¥9.69B | ¥12.4B | ¥19.4B | ¥13.5B |
| Total debt | ¥43.2B | ¥4.40B | ¥4.17B | ¥1.46B | ¥7.38B |
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 |
|---|---|---|---|---|---|---|
| MEDIPAL 7459.T | $3.67B | +14% | +4% | 1% | 12.6× | -7.4% |
| Alfresa 2784.T | $2.79B | -3% | +5% | 1% | 17.4× | -9.1% |
| Suzuken 9987.T | $2.29B | -9% | +5% | 1% | 15.0× | -11.9% |
| Toho 8129.T | $1.60B | -14% | +4% | 1% | 21.6× | -7.4% |
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 | 7459.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.0% | +3.1% | 6th highest of 21 |
| 6-month return | +13.7% | +4.7% | 8th highest of 21 |
| Distance from 52-week high | -11.5% | -14.7% | 7th highest of 21 |
| Revenue growth (TTM) | +4.2% | +6.2% | 7th lowest of 21 |
| Operating margin | 1.4% | 3.2% | 5th lowest of 21 |
| Forward P/E | 12.6× | 17.4× | 3rd cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -7.4% | -1.3% | 5th least demanding of 17 |
| Growth delivered (Del g) | +3.5% | +5.3% | 5th lowest of 17 |
| Hurdle (Req g minus delivered) | -11.0 pp | -7.5 pp | 8th least demanding of 17 |
| ROIC minus cost of capital | +0.3 pp | +1.6 pp | 8th lowest of 21 |
| Net debt / EBITDA | -3.0× | 0.6× | 3rd least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| MEDIPAL 7459.T | Japan | $3.67B | +14% | +4% | 1% | 12.6× | -7.4% | +3.5% |
| Amplifon AMP.MI | Italy | $3.72B | +13% | 0% | 9% | 18.1× | 9.5% | +9.8% |
| Jointown Pharmaceutical 600998.SS | China | $3.96B | +1% | +9% | 2% | 11.7× | 0.1% | +7.8% |
| COSMOS Pharmaceutical 3349.T | Japan | $3.20B | +5% | +9% | 4% | 15.7× | n/a | n/a |
| Asker Healthcare ASKER.ST | Sweden | $2.98B | -5% | +12% | 7% | 26.6× | 1.2% | +12.7% |
| Alfresa 2784.T | Japan | $2.79B | -3% | +5% | 1% | 17.4× | -9.1% | +3.5% |
| Hanmi Science 008930.KS | South Korea | $2.71B | +44% | +6% | 5% | n/a | 24.2% | +9.6% |
| Galenica GALE.SW | Switzerland | $5.46B | +8% | +6% | 5% | 23.4× | 6.9% | +3.5% |
| Suzuken 9987.T | Japan | $2.29B | -9% | +5% | 1% | 15.0× | -11.9% | +3.2% |
| DKSH DKSH.SW | Switzerland | $6.10B | +29% | -1% | 3% | 21.5× | -1.4% | +0.6% |
| Sinopharm 1099.HK | Hong Kong | $6.83B | -4% | +3% | 3% | 6.3× | -8.1% | +4.0% |
| Redcare Pharmacy RDC.DE | Germany | $1.63B | +52% | +19% | 0% | n/a | n/a | n/a |
| Toho 8129.T | Japan | $1.60B | -14% | +4% | 1% | 21.6× | -7.4% | +5.1% |
| Henry Schein HSIC | United States | $9.51B | +22% | +6% | 6% | 14.8× | 9.8% | +5.4% |
| Ship Healthcare 3360.T | Japan | $1.34B | +4% | +7% | 3% | 13.8× | -14.7% | +7.6% |
| Shanghai C and D INNOSTIC Medical Technology 301584.SZ | China | $1.20B | -28% | +8% | 3% | n/a | -1.3% | +17.9% |
| Shinva Medical Instrument 600587.SS | China | $1.16B | -7% | +6% | 5% | 14.2× | -5.9% | +1.2% |
| AS ONE 7476.T | Japan | $1.08B | +15% | +10% | 12% | 18.2× | -1.0% | +6.3% |
| Nanjing Pharmaceutical 600713.SS | China | $1.03B | +1% | +3% | 2% | n/a | n/a | n/a |
| DocMorris DOCM.SW | Switzerland | $1.02B | +136% | +11% | -8% | n/a | n/a | n/a |
| Arjo ARJO-B.ST | Sweden | $1.02B | +48% | 0% | 8% | 21.3× | -1.3% | +3.9% |