Fact based stock research
Morinaga Milk Industry (TSE:2264)

JP3926800008

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

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Morinaga Milk Industry stock research in summary

morinagamilk.co.jp

ANALYSIS: With an Obermatt Combined Rank of 24 (worse than 76% compared with investment alternatives), Morinaga Milk Industry (Packaged Foods & Meats, Japan) shares have lower financial characteristics compared with similar stocks. Shares of Morinaga Milk Industry are a good value (attractively priced) with a consolidated Value Rank of 57 (better than 57% of alternatives), show above-average growth (Growth Rank of 50) but are riskily financed (Safety Rank of 28), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 24, is a sell recommendation based on Morinaga Milk Industry's financial characteristics. As the company Morinaga Milk Industry's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 57) and above-average growth (Obermatt Growth Rank of 50), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 28) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	57
Growth Rank	50
Safety Rank	28
Combined Rank	24

Country	Japan
Industry	Packaged Foods & Meats
Index
Size class	X-Large

10-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Research History: Morinaga Milk Industry

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	73	92	65	57
GROWTH
GROWTH	99	81	21	50
SAFETY
SAFETY	25	29	23	28
SENTIMENT
SENTIMENT	97	64	21	^new
360° VIEW
360° VIEW	100	86	12	^new

Most recent update of the stock research: 10-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Morinaga Milk Industry is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	73	92	65	57
GROWTH
GROWTH	99	81	21	50
SAFETY
SAFETY	25	29	23	28
COMBINED
COMBINED	95	88	19	24

Last update of combined financial performance: 10-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Morinaga Milk Industry the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 57 (better than 57% compared with alternatives), Morinaga Milk Industry shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators that are all above average for Morinaga Milk Industry. Price-to-Sales is 57 which means that the stock price compared with what market professionals expect for future sales is lower than for 57% of comparable companies, indicating a good value for Morinaga Milk Industry's revenue size. The same is valid for expected Price-to-Profits, more favorable than for 52% of alternatives, and this is also true for the Price-to-Book capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 52. Compared with other companies in the same industry, dividend yields of Morinaga Milk Industry are expected to be higher than for 57% of all competitors (a Dividend Yield rank of 57). ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 57, is a buy recommendation based on Morinaga Milk Industry's stock price compared with the company's operational size and dividend yields. Since all value metrics are above the industry average, there is no objection to investing in Morinaga Milk Industry based on its detailed value metrics. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	61	64	61	57
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	87	97	59	52
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	69	91	64	52
DIVIDEND YIELD
DIVIDEND YIELD	39	77	71	57
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	73	92	65	57

Last update of Value Rank: 10-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Morinaga Milk Industry; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 50 (better than 50% compared with alternatives), Morinaga Milk Industry shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with three out of four metrics below average for Morinaga Milk Industry. While Profit Growth has a good rank of 96, as professionals currently expect the company to grow its profits more than 96% of its competitors, all other growth indicators are below market averages. Sales Growth has a rank of 24, which means that currently professionals expect the company to grow less than 76% of its competitors, while Capital Growth has a rank of 37 and Stock Returns have been below market median, with a rank of 43 (57% of alternative investments were better). ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 50, is a buy recommendation for growth and momentum investors. While revenue growth and capital growth are good growth momentum indicators, profit is less reliable, because profits may increase due to cost-cutting measures which typically indicate negative growth momentum. "You can save a dollar only once" is the saying about such situations. Growth Investors should look at company priorities closely if they are interested in growth, because the increase in profits is not usually an indicator of growth, and stock prices have been below market, too. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is limited here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	28	16	26	24
PROFIT GROWTH
PROFIT GROWTH	86	94	1	96
CAPITAL GROWTH
CAPITAL GROWTH	95	92	46	37
STOCK RETURNS
STOCK RETURNS	87	49	53	43
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	99	81	21	50

Last update of Growth Rank: 10-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Morinaga Milk Industry.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 28 (better than 28% compared with alternatives), the company Morinaga Milk Industry has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Morinaga Milk Industry is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Morinaga Milk Industry. Liquidity is at 54, meaning the company generates more profit to service its debt than 54% of its competitors. This indicates that the company is safer when it comes to debt service. But Refinancing is riskier at a rank of 19, which means that the portion of the debt that is about to be refinanced is above average. It has more debt in the refinancing stage than 81% of its competitors. Leverage is also high at a rank of 36, which means that the company has an above-average debt-to-equity ratio. It has more debt than 64% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 28 (worse than 72% compared with alternatives), Morinaga Milk Industry has a financing structure that is riskier than that of its competitors. High Leverage (a low Obermatt Leverage Rank) is good in good times, because it usually indicates that shareholders get higher returns. The good Liquidity performance of the company is an indicator that this is the case. However, if you expect an economic downturn, you may stay clear of this stock because they have an above-average debt level that needs refinancing soon. If the company is sailing with good winds, as may be visible from the Growth and Sentiment performance, the refinancing risk may be lower than the low Refinancing rank suggests. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	30	42	48	36
REFINANCING
REFINANCING	19	29	10	19
LIQUIDITY
LIQUIDITY	61	59	50	54
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	25	29	23	28

Last update of Safety Rank: 10-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Morinaga Milk Industry and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	23	25	^new
OPINIONS CHANGE
OPINIONS CHANGE	94	98	72	^new
PRO HOLDINGS
PRO HOLDINGS	83	100	18	^new
MARKET PULSE
MARKET PULSE	28	26	30	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	97	64	21	^new

Last update of Sentiment Rank: 10-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Morinaga Milk Industry.
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