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Japanese broadcaster operating the TV Asahi network, part of the Asahi Shimbun-affiliated ANN group.
Japanese broadcaster operating the TV Asahi network, part of the Asahi Shimbun-affiliated ANN group.
Sells advertising time to sponsors, both in slots it fills itself and on shows that run across the national network, so earnings follow Japanese ad budgets and viewing. Content licensing and events supplement airtime sales and are being pushed to make revenue less dependent on advertising.
In one line: A Japanese ABC-affiliate network group.
Moat: narrow (brand, regulatory licence, distribution). Licensed nationwide broadcast spectrum and an established network brand.
Headquarters: Tokyo, Japan · Founded: 1959 · Employees: 5,622
Size TV Asahi (9409.T) is a Japan Communication Services company (Broadcasting) with a market value of $2.15B, the 460th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,335 on 6 Nov 2026.
Performance Over six months the shares gained 3.1%, against -4.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 4.1% over the last twelve months (peer median +2.7%); the operating margin is 6.7% (peer median 8.3%).
Valuation It trades at 14.5× forward earnings against a peer median of 13.5× (6th most expensive of 17).
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 +5%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.4 points below its cost of capital (5.0% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥340B | ¥339B | ¥324B | ¥308B | ¥305B |
| Revenue growth | — | +5% | +5% | +1% | — |
| Gross profit | ¥99.4B | ¥104B | ¥87.0B | ¥76.9B | ¥79.7B |
| EBITDA | ¥32.4B | ¥35.4B | ¥29.2B | ¥22.4B | ¥25.3B |
| Net income | ¥28.2B | ¥29.7B | ¥25.8B | ¥17.1B | ¥16.6B |
| Free cash flow | n/a | ¥12.3B | -¥5.18B | ¥4.55B | ¥935M |
| Capital expenditure | n/a | ¥13.7B | ¥33.2B | ¥16.1B | ¥15.6B |
| Total debt | ¥23.7B | ¥3.77B | ¥2.98B | ¥1.60B | ¥1.44B |
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 |
|---|---|---|---|---|---|---|
| TV Asahi 9409.T | $2.15B | +3% | +4% | 7% | 14.5× | -0.9% |
| Nippon Television 9404.T | $4.57B | -3% | +3% | 13% | 12.9× | -7.5% |
| Fuji Media 4676.T | $3.62B | +2% | +9% | 3% | 12.1× | n/a |
| Tbs 9401.T | $5.81B | +8% | +5% | 5% | 18.1× | 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 | 9409.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.2% | +2.6% | 6th highest of 20 |
| 6-month return | +3.1% | -4.2% | 6th highest of 20 |
| Distance from 52-week high | -12.2% | -31.6% | 5th highest of 20 |
| Revenue growth (TTM) | +4.1% | +2.7% | 9th highest of 20 |
| Operating margin | 6.7% | 8.3% | 9th lowest of 20 |
| Forward P/E | 14.5× | 13.5× | 6th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | -0.9% | 3.6% | 7th least demanding of 17 |
| Growth delivered (Del g) | +5.1% | +2.1% | 5th highest of 17 |
| Hurdle (Req g minus delivered) | -6.0 pp | +2.0 pp | 7th least demanding of 17 |
| ROIC minus cost of capital | -1.4 pp | -0.6 pp | 8th lowest of 19 |
| EV / EBITDA | 9.2× | 8.1× | 6th most expensive of 17 |
| Net debt / EBITDA | -1.4× | 0.3× | 5th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TV Asahi 9409.T | Japan | $2.15B | +3% | +4% | 7% | 14.5× | -0.9% | +5.1% |
| Sun TV Network SUNTV.NS | India | $2.48B | +4% | -5% | 38% | 14.2× | 9.5% | +6.4% |
| MFE-MediaForEurope MFEA.MI | Italy | $1.83B | -26% | +90% | 3% | 5.0× | 0.6% | +8.9% |
| Metropole Television MMT.PA | France | $1.60B | -4% | -2% | 11% | 12.5× | -0.9% | -0.3% |
| Hebei Broadcasting Wireless Media 301551.SZ | China | $1.58B | -4% | -1% | 35% | n/a | 20.7% | -0.8% |
| Television Francaise 1 TFI.PA | France | $1.53B | -6% | -3% | 8% | 14.7× | -7.5% | +2.0% |
| Atresmedia Corporacion de Medios de Comunicacion A3M.MC | Spain | $1.52B | +16% | +1% | 8% | 14.1× | 6.9% | +2.3% |
| SKY Perfect JSAT 9412.T | Japan | $3.13B | -50% | +8% | 30% | 17.2× | 6.2% | -1.8% |
| Fuji Media 4676.T | Japan | $3.62B | +2% | +9% | 3% | 12.1× | n/a | n/a |
| Rai Way RWAY.MI | Italy | $1.27B | -28% | +3% | 44% | 12.9× | -10.3% | +4.8% |
| Nippon Television 9404.T | Japan | $4.57B | -3% | +3% | 13% | 12.9× | -7.5% | +4.4% |
| Sinclair SBGI | United States | $989M | -4% | -6% | 6% | 230.3× | 10.9% | -11.8% |
| Newsmax NMAX | United States | $948M | +16% | +11% | -7% | n/a | n/a | n/a |
| Nine Entertainment NEC.AX | Australia | $895M | -15% | -18% | 9% | 8.2× | 7.4% | -1.3% |
| Entravision Communications EVC | United States | $830M | +26% | +71% | 8% | n/a | 13.5% | +5.4% |
| Tbs 9401.T | Japan | $5.81B | +8% | +5% | 5% | 18.1× | n/a | n/a |
| Nexstar Media NXST | United States | $5.85B | -6% | +11% | 18% | 6.2× | 5.5% | +1.9% |
| CJ ENM 035760.KS | South Korea | $706M | -15% | -3% | 2% | 30.0× | -5.1% | +8.7% |
| Zee Entertainment Enterprises ZEEL.NS | India | $651M | -32% | +6% | -1% | 14.3× | 1.8% | +0.9% |
| TV Tokyo 9413.T | Japan | $582M | -15% | +2% | 6% | 12.7× | -18.7% | +3.5% |