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Japan's largest general-merchandise/supermarket retailer, operating malls, drugstores and financial services.
Japan's largest general-merchandise/supermarket retailer, operating malls, drugstores and financial services.
Earns from selling everyday goods at thin margins, so volume and the rent from mall tenants matter as much as the stores themselves. It is a holding company over a web of listed subsidiaries, including its mall developer, credit-card arm and drugstore chain, and also runs stores in China and Southeast Asia.
In one line: A Japanese Walmart-meets-mall-operator.
Moat: narrow (scale, distribution, installed base). Largest retail footprint and mall real estate in Japan, but thin retail margins and competition from discounters.
Headquarters: Chiba, Japan · Founded: 1758 · Employees: 179,230
Size Aeon (8267.T) is a Japan Consumer Discretionary company (Food Retail) with a market value of $21.4B, the 79th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,221 on 6 Nov 2026.
Performance Over six months the shares fell 19.1%, against +28.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 10.7% over the last twelve months (peer median +6.6%); the operating margin is 2.5% (peer median 8.9%).
Valuation It trades at 51.1× forward earnings against a peer median of 15.3× (most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.2 points below its cost of capital (5.0% WACC).
Next results Next results expected around 8 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥11.4T | ¥10.7T | ¥10.1T | ¥9.55T | ¥9.12T |
| Revenue growth | — | +6% | +6% | +5% | — |
| Gross profit | ¥4.12T | ¥3.55T | ¥3.41T | ¥3.22T | ¥3.02T |
| EBITDA | ¥691B | ¥654B | ¥600B | ¥596B | ¥548B |
| Net income | ¥82.0B | ¥72.7B | ¥27.2B | ¥44.7B | ¥21.4B |
| Free cash flow | n/a | ¥598B | ¥100B | -¥27.7B | ¥62.9B |
| Capital expenditure | n/a | ¥529B | ¥466B | ¥396B | ¥371B |
| Total debt | ¥4.22T | ¥4.47T | ¥3.84T | ¥3.70T | ¥3.47T |
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 |
|---|---|---|---|---|---|---|
| Aeon 8267.T | $21.4B | -19% | +11% | 2% | 51.1× | 3.5% |
| Seven & I 3382.T | $31.7B | +16% | -11% | 4% | 17.4× | 4.0% |
| Pan Pacific Intl Hldgs 7532.T | $15.0B | -15% | +9% | 7% | 19.8× | -2.2% |
| Costco COST | $467B | +4% | +10% | 4% | 46.2× | 19.9% |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 8267.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.4% | +7.4% | 5th lowest of 21 |
| 6-month return | -19.1% | +28.3% | 2nd lowest of 21 |
| Distance from 52-week high | -58.1% | -9.7% | 2nd lowest of 21 |
| Revenue growth (TTM) | +10.7% | +6.6% | 7th highest of 21 |
| Operating margin | 2.5% | 8.9% | 2nd lowest of 21 |
| Forward P/E | 51.1× | 15.3× | most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 3.5% | 3.4% | 10th most demanding of 20 |
| Growth delivered (Del g) | +4.5% | +11.4% | 2nd lowest of 20 |
| Hurdle (Req g minus delivered) | -1.0 pp | -8.1 pp | 4th most demanding of 20 |
| ROIC minus cost of capital | -1.2 pp | +1.0 pp | 8th lowest of 21 |
| EV / EBITDA | 9.1× | 9.0× | 10th most expensive of 20 |
| Net debt / EBITDA | 2.8× | 0.1× | 3rd most indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Aeon 8267.T | Japan | $21.4B | -19% | +11% | 2% | 51.1× | 3.5% | +4.5% |
| Asics 7936.T | Japan | $20.7B | +10% | +28% | 19% | 27.1× | 14.1% | +19.8% |
| Ly Corporation 4689.T | Japan | $23.2B | +31% | +8% | 15% | 18.5× | 0.8% | +11.0% |
| Bandai Namco 7832.T | Japan | $26.1B | +76% | +9% | 15% | 25.5× | -0.4% | +12.7% |
| Sumitomo Electric Industries 5802.T | Japan | $27.3B | -47% | +14% | 9% | 11.4× | 13.3% | +11.9% |
| Suzuki Motor 7269.T | Japan | $27.3B | +26% | +14% | 9% | 9.1× | -0.8% | +14.6% |
| Ryohin Keikaku 7453.T | Japan | $16.4B | +31% | +18% | 11% | 32.4× | 9.5% | +15.3% |
| Bridgestone 5108.T | Japan | $31.7B | +28% | +6% | 12% | 14.0× | -1.9% | +10.4% |
| Denso 6902.T | Japan | $32.5B | -1% | +7% | 7% | 12.1× | 3.4% | +8.8% |
| Sekisui House 1928.T | Japan | $14.1B | +2% | -2% | 9% | 10.0× | -5.1% | +11.4% |
| Oriental Land 4661.T | Japan | $36.7B | +61% | +6% | 24% | 41.9× | 9.3% | +32.8% |
| Subaru 7270.T | Japan | $12.3B | +16% | 0% | 3% | 12.0× | 2.7% | +11.1% |
| Zensho 7550.T | Japan | $12.2B | +41% | +12% | 7% | 34.3× | 6.1% | +16.3% |
| Nitori 9843.T | Japan | $11.7B | +47% | 0% | 13% | 20.0× | 2.7% | +4.9% |
| Shimano 7309.T | Japan | $11.5B | +29% | +5% | 12% | 35.8× | 6.0% | +4.3% |
| Toray Industries 3402.T | Japan | $11.1B | +6% | +6% | 6% | 16.6× | 5.5% | +6.5% |
| Honda Motor 7267.T | Japan | $45.2B | +45% | +4% | -1% | 11.7× | 18.2% | +10.6% |
| Yamaha Motor 7272.T | Japan | $10.1B | +54% | +10% | 6% | 9.3× | 4.2% | +11.5% |
| Sanrio 8136.T | Japan | $9.78B | +33% | +28% | 39% | 22.4× | 1.9% | +36.4% |
| Aisin 7259.T | Japan | $9.78B | -14% | +6% | 4% | 10.0× | -0.3% | +7.7% |
| Isuzu Motors 7202.T | Japan | $9.26B | -1% | +5% | 6% | 8.8× | n/a | n/a |