Ajinomoto - Public Comps and Valuation Multiples

Ajinomoto Overview

About Ajinomoto

Ajinomoto Co Inc is a Japan-based company mainly engaged in the food business. The company operates through three business segments. The Seasonings & Foods segment covers seasonings, nutritional products, processed foods, and solutions & ingredients. The Frozen Foods segment handles a wide range of frozen food products. The Health Care and Other segment provides pharmaceutical and food-use amino acids, biopharmaceutical services, functional materials, as well as other related products and services. It generates the majority of its revenue from the Seasonings and Food segment.

Founded

1925

HQ

Employees

43.4K+

Website

ajinomoto.co.jp

Sectors

Food & Beverages

Financials

LTM Revenue $10.6B

LTM EBITDA $1.7B

EV

$30.5B

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Ajinomoto Financials

As of August 2025, Ajinomoto reported last 12-month revenue of $10.6B and EBITDA of $1.7B.

In the same period, Ajinomoto generated $4.1B in LTM gross profit and $652M in net income.

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Ajinomoto P&L

In the most recent fiscal year, Ajinomoto reported revenue of $10.4B and EBITDA of $1.4B.

Ajinomoto expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$10.6B	XXX	$10.4B	XXX	XXX	XXX
Gross Profit	$4.1B	XXX	$3.7B	XXX	XXX	XXX
Gross Margin	39%	XXX	36%	XXX	XXX	XXX
EBITDA	$1.7B	XXX	$1.4B	XXX	XXX	XXX
EBITDA Margin	16%	XXX	14%	XXX	XXX	XXX
EBIT	$1.2B	XXX	$730M	XXX	XXX	XXX
EBIT Margin	11%	XXX	7%	XXX	XXX	XXX
Net Profit	$652M	XXX	$477M	XXX	XXX	XXX
Net Margin	6%	XXX	5%	XXX	XXX	XXX
Net Debt	XXX	XXX	$2.0B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Ajinomoto including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $10.6B. EBITDA for the last twelve months was $1.7B. In the most recent fiscal year, Ajinomoto achieved $10.4B in revenue and $1.4B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$10.6B	Analyst estimates available to subscribers	$10.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$4.1B	Analyst estimates available to subscribers	$3.7B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	39.1% gross margin	Analyst estimates available to subscribers	36.0% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.7B	Analyst estimates available to subscribers	$1.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	16.1% EBITDA margin	Analyst estimates available to subscribers	13.7% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$1.2B	Analyst estimates available to subscribers	$730M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	11.1% EBIT margin	Analyst estimates available to subscribers	7.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$652M	Analyst estimates available to subscribers	$477M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	6.2% net profit margin	Analyst estimates available to subscribers	4.6% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$2.0B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Ajinomoto

This financial data table provides comprehensive performance metrics for Ajinomoto, a company based in Japan. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Ajinomoto generated $10.6B in revenue over the last twelve months.
The company achieved $1.7B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $4.1B.
Net income over the last twelve months reached $652M.

Fiscal Year Performance

In the most recent fiscal year, Ajinomoto reported $10.4B in total revenue.
Fiscal year EBITDA was $1.4B.
The company maintained a gross profit margin of 36.0% in the most recent fiscal year.
EBITDA margin for the fiscal year was 13.7%.
Net profit margin reached 4.6% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Ajinomoto. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Ajinomoto Stock Performance

Ajinomoto has current market cap of JPY 4.15T (or $28.2B), and EV of JPY 4.50T (or $30.5B).

Market Cap Evolution

Ajinomoto Stock Data

As of September 12, 2025, Ajinomoto's stock price is JPY 4262 (or $29).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$30.5B	$28.2B	XXX	XXX	XXX	XXX	$0.65

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Ajinomoto Valuation Multiples

Ajinomoto's trades at 3.0x EV/Revenue multiple, and 20.9x EV/EBITDA.

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Ajinomoto Financial Valuation Multiples

As of September 12, 2025, Ajinomoto has market cap of $28.2B and EV of $30.5B.

Equity research analysts estimate Ajinomoto's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Ajinomoto has a P/E ratio of 43.2x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$28.2B	XXX	$28.2B	XXX	XXX	XXX
EV (current)	$30.5B	XXX	$30.5B	XXX	XXX	XXX
EV/Revenue	2.9x	XXX	3.0x	XXX	XXX	XXX
EV/EBITDA	18.0x	XXX	20.9x	XXX	XXX	XXX
EV/EBIT	26.0x	XXX	38.7x	XXX	XXX	XXX
EV/Gross Profit	7.4x	XXX	n/a	XXX	XXX	XXX
P/E	43.2x	XXX	55.7x	XXX	XXX	XXX
EV/FCF	32.6x	XXX	40.8x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Ajinomoto Margins & Growth Rates

Ajinomoto's last 12 month revenue growth is 5%

Ajinomoto's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Ajinomoto's rule of 40 is 19% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Ajinomoto's rule of X is 28% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Ajinomoto Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	5%	XXX	5%	XXX	XXX	XXX
EBITDA Margin	16%	XXX	14%	XXX	XXX	XXX
EBITDA Growth	16%	XXX	18%	XXX	XXX	XXX
Rule of 40	19%	XXX	19%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	28%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	14%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	2%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	29%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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