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Japanese sporting goods maker known for golf clubs, baseball gear, running shoes and athletic apparel.
Japanese sporting goods maker known for golf clubs, baseball gear, running shoes and athletic apparel.
In Japan it sells much equipment through team and school orders and through sports retailers, a loyal, repeat channel that makes it slower to change prices. Overseas it positions around running shoes, while baseball gear and golf serve more specialised buyers.
In one line: A Japanese Wilson/New Balance hybrid.
Moat: narrow (brand, IP / patents, distribution). Century-old brand with strong loyalty in golf and baseball equipment across Japan and Asia.
Headquarters: Osaka, Japan · Founded: 1906 · Employees: 3,682
Size Mizuno (8022.T) is a Japan Consumer Discretionary company (Apparel/Footwear) with a market value of $2.10B, the 464th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,210 on 6 Nov 2026.
Performance Over six months the shares gained 27.2%, against +0.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 9.8% over the last twelve months (peer median +3.2%); the operating margin is 9.2% (peer median 8.9%).
Valuation It trades at 15.9× forward earnings against a peer median of 12.8× (5th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.2 points above its cost of capital (7.9% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥267B | ¥259B | ¥240B | ¥230B | ¥212B |
| Revenue growth | — | +8% | +5% | +8% | — |
| Gross profit | ¥113B | ¥105B | ¥95.6B | ¥88.2B | ¥78.5B |
| EBITDA | ¥28.6B | ¥26.5B | ¥24.0B | ¥20.6B | ¥15.8B |
| Net income | ¥19.5B | ¥18.4B | ¥15.2B | ¥14.3B | ¥9.91B |
| Free cash flow | n/a | ¥14.6B | ¥3.73B | ¥20.1B | -¥12.4B |
| Capital expenditure | n/a | ¥3.92B | ¥4.11B | ¥2.02B | ¥5.28B |
| Total debt | ¥22.8B | ¥25.8B | ¥16.6B | ¥14.0B | ¥25.3B |
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 |
|---|---|---|---|---|---|---|
| Mizuno 8022.T | $2.10B | +27% | +10% | 9% | 15.9× | 4.9% |
| Asics 7936.T | $20.7B | +10% | +28% | 19% | 27.1× | 14.1% |
| Amer Sports AS | $18.3B | -13% | +30% | 13% | 21.9× | 23.5% |
| Yonex 7906.T | $1.31B | -10% | +15% | 10% | 14.6× | n/a |
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 | 8022.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.1% | +5.1% | 5th lowest of 21 |
| 6-month return | +27.2% | +0.4% | 5th highest of 21 |
| Distance from 52-week high | -9.7% | -22.6% | 5th highest of 21 |
| Revenue growth (TTM) | +9.8% | +3.2% | 5th highest of 21 |
| Operating margin | 9.2% | 8.9% | 10th highest of 21 |
| Forward P/E | 15.9× | 12.8× | 5th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 4.9% | -6.1% | 5th most demanding of 17 |
| Growth delivered (Del g) | +11.5% | +6.4% | 4th highest of 17 |
| Hurdle (Req g minus delivered) | -6.6 pp | -12.3 pp | 5th most demanding of 17 |
| ROIC minus cost of capital | +3.2 pp | +6.1 pp | 7th lowest of 21 |
| EV / EBITDA | 10.7× | 7.6× | 4th most expensive of 17 |
| Net debt / EBITDA | -0.9× | -0.1× | 7th least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mizuno 8022.T | Japan | $2.10B | +27% | +10% | 9% | 15.9× | 4.9% | +11.5% |
| Feng Tay Enterprise 9910.TW | Taiwan | $2.08B | 0% | -4% | 7% | 15.0× | -5.9% | +3.9% |
| Under Armour UA | United States | $2.23B | -19% | -3% | 1% | 83.9× | n/a | n/a |
| Youngone 111770.KS | South Korea | $2.27B | -13% | +15% | 14% | 5.5× | n/a | n/a |
| Goldwin 8111.T | Japan | $1.93B | -1% | +4% | 18% | 12.7× | -6.3% | +8.7% |
| Pou Chen 9904.TW | Taiwan | $2.29B | 0% | -7% | 3% | 7.3× | 5.9% | +0.1% |
| Vestis VSTS | United States | $1.88B | +54% | 0% | 4% | 20.0× | 15.8% | +1.3% |
| Zhejiang Semir Garment 002563.SZ | China | $2.42B | -1% | +4% | 7% | 14.8× | -8.1% | -0.1% |
| F&F 383220.KS | South Korea | $1.80B | -3% | +7% | 25% | 5.1× | n/a | n/a |
| BIEM.L.FDLKK Garment 002832.SZ | China | $2.46B | +42% | +23% | 15% | 20.4× | 0.0% | +13.3% |
| Wolverine World Wide WWW | United States | $1.75B | +28% | +7% | 9% | 12.1× | 9.1% | +0.9% |
| Yue Yuen Industrial (Holdings) 0551.HK | Hong Kong | $2.75B | -7% | -3% | 3% | 13.6× | 2.4% | -0.9% |
| Makalot Industrial 1477.TW | Taiwan | $1.59B | +1% | -2% | 14% | 12.8× | -8.0% | +6.7% |
| Star Shine 1440.HK | Hong Kong | $2.85B | +34% | -33% | -3% | n/a | n/a | n/a |
| Eclat Textile 1476.TW | Taiwan | $2.88B | +3% | 0% | 20% | 13.7× | -8.9% | +6.2% |
| Steven Madden SHOO | United States | $2.89B | -3% | +18% | 9% | 17.5× | 5.9% | +16.1% |
| Hugo Boss BOSS.DE | Germany | $2.90B | +8% | -5% | 8% | 15.4× | -6.6% | +17.0% |
| Crystal International 2232.HK | Hong Kong | $2.92B | +23% | +4% | 10% | 11.4× | -5.3% | +6.0% |
| Misto 081660.KS | South Korea | $1.51B | -5% | +8% | 13% | 6.4× | -13.9% | +7.4% |
| JNBY Design 3306.HK | Hong Kong | $1.47B | +7% | +12% | 20% | 9.4× | -7.4% | +6.9% |
| Stella International 1836.HK | Hong Kong | $1.47B | -10% | +2% | 8% | 11.8× | -9.5% | +6.8% |