Loading…
Global leader in baby care products, including nursing bottles, nipples, baby skincare and childcare items.
Global leader in baby care products, including nursing bottles, nipples, baby skincare and childcare items.
Gets new parents to try its feeding products in hospitals and maternity wards, then sells replacement bottles, nipples and skincare through baby-goods stores, drugstores and online. China is its largest overseas market, while births in Japan keep falling.
In one line: The world's Gerber/Playtex for baby bottles and nursing products.
Moat: wide (brand, IP / patents, scale). World-leading share and decades of nipple/bottle design patents trusted by hospitals globally.
Headquarters: Tokyo, Japan · Founded: 1957 · Employees: 3,042
Size Pigeon (7956.T) is a Japan Consumer Staples company (Household/Personal Care) with a market value of $1.66B, the 537th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,190 on 6 Nov 2026.
Performance Over six months the shares gained 29.8%, against -4.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 7.3% over the last twelve months (peer median +3.0%); the operating margin is 12.5% (peer median 8.8%).
Valuation It trades at 26.3× forward earnings against a peer median of 19.0× (7th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 11.4 points above its cost of capital (5.0% WACC).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥114B | ¥109B | ¥104B | ¥94.5B | ¥94.9B |
| Revenue growth | — | +5% | +10% | 0% | — |
| Gross profit | ¥57.7B | ¥54.8B | ¥51.4B | ¥45.5B | ¥44.8B |
| EBITDA | ¥19.0B | ¥17.8B | ¥17.0B | ¥15.8B | ¥17.1B |
| Net income | ¥9.17B | ¥8.57B | ¥8.37B | ¥7.42B | ¥8.58B |
| Free cash flow | n/a | ¥10.3B | ¥12.2B | ¥9.04B | ¥7.89B |
| Capital expenditure | n/a | ¥3.14B | ¥2.25B | ¥5.65B | ¥5.56B |
| Total debt | ¥5.67B | ¥2.15B | ¥2.70B | ¥2.72B | ¥2.77B |
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 |
|---|---|---|---|---|---|---|
| Pigeon 7956.T | $1.66B | +30% | +7% | 13% | 26.3× | -1.3% |
| Kimberly-Clark KMB | $66.5B | +12% | -12% | 14% | 15.3× | 4.1% |
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 | 7956.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.4% | +1.6% | 7th highest of 21 |
| 6-month return | +29.8% | -4.2% | 2nd highest of 21 |
| Distance from 52-week high | -4.4% | -30.0% | 2nd highest of 21 |
| Revenue growth (TTM) | +7.3% | +3.0% | 9th highest of 21 |
| Operating margin | 12.5% | 8.8% | 7th highest of 21 |
| Forward P/E | 26.3× | 19.0× | 7th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | -1.3% | 4.3% | 6th least demanding of 17 |
| Growth delivered (Del g) | +1.9% | +6.5% | 6th lowest of 17 |
| Hurdle (Req g minus delivered) | -3.2 pp | -4.5 pp | 9th least demanding of 17 |
| ROIC minus cost of capital | +11.4 pp | +4.6 pp | 5th highest of 21 |
| EV / EBITDA | 12.3× | 11.1× | 5th most expensive of 13 |
| Net debt / EBITDA | -1.6× | -0.5× | 5th least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Pigeon 7956.T | Japan | $1.66B | +30% | +7% | 13% | 26.3× | -1.3% | +1.9% |
| Energizer ENR | United States | $1.63B | +26% | +2% | 16% | 7.2× | -5.2% | +1.5% |
| Shanghai Jahwa United 600315.SS | China | $1.74B | -13% | +9% | 2% | 18.1× | 17.1% | -2.1% |
| Harbin Fuerjia Technology 301371.SZ | China | $1.58B | -30% | +28% | 20% | 22.5× | 8.7% | +3.6% |
| AMOREPACIFIC 002790.KS | South Korea | $1.55B | -3% | +9% | 9% | 8.4× | -17.9% | -1.3% |
| Emami EMAMILTD.NS | India | $1.80B | -15% | +3% | 20% | 21.4× | 21.7% | +5.6% |
| Yunnan Botanee Bio-Technology 300957.SZ | China | $1.84B | -28% | +7% | 9% | 21.2× | 4.5% | +15.3% |
| Intercos ICOS.MI | Italy | $1.50B | +16% | -5% | 9% | 19.5× | 4.5% | +11.5% |
| Chongqing Baiya Sanitary Products 003006.SZ | China | $1.49B | +25% | 0% | 3% | 41.2× | 30.6% | +22.8% |
| Blue Moon 6993.HK | Hong Kong | $1.88B | -15% | -2% | -2% | 93.6× | n/a | n/a |
| Kolmar Korea 161890.KS | South Korea | $1.89B | +23% | +13% | 10% | 13.0× | -0.9% | +15.5% |
| Guangdong Marubi Biotechnology 603983.SS | China | $1.45B | -4% | -6% | 2% | 37.0× | n/a | n/a |
| Pola Orbis 4927.T | Japan | $1.96B | +8% | +1% | 10% | 28.8× | -3.1% | -0.7% |
| d'Alba Global 483650.KS | South Korea | $1.32B | -37% | +55% | 21% | 13.6× | -2.2% | +53.0% |
| Cosmax 192820.KS | South Korea | $2.13B | +21% | +16% | 8% | 16.6× | n/a | n/a |
| Edgewell Personal Care EPC | United States | $1.29B | +32% | -7% | 6% | 12.4× | 4.1% | +2.7% |
| KOSE 4922.T | Japan | $2.16B | +7% | +3% | 4% | 27.2× | n/a | n/a |
| Softcare 2698.HK | Hong Kong | $2.20B | -5% | +25% | 25% | 14.4× | 8.7% | +20.9% |
| Shanghai Chicmax Cosmetics 2145.HK | Hong Kong | $1.22B | -52% | +23% | 8% | 15.0× | -5.9% | +21.2% |
| Procter & Gamble Hygiene & Health Care PGHH.NS | India | $2.40B | -29% | -2% | 24% | 27.3× | 15.4% | +7.4% |
| LG H&h 051900.KS | South Korea | $2.56B | -8% | -3% | 3% | 18.5× | -0.1% | -4.1% |