Morinaga (TSE:2201) EV-to-OCF: (As of Aug. 25, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:2201 Morinaga & Co Ltd TSE:2201
76 GF Score
Price 円2,578.50
GF Value 円3,126.02
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is Morinaga EV-to-OCF?

EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Morinaga's Enterprise Value is 円233,878 Mil. Morinaga's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 円0 Mil. Therefore, Morinaga's EV-to-OCF for today is .

The historical rank and industry rank for Morinaga's EV-to-OCF or its related term are showing as below:

TSE:2201' s EV-to-OCF Range Over the Past 10 Years
Min: 9.92   Med: 0   Max: 9.92
Current: 9.92

During the past 13 years, the highest EV-to-OCF of Morinaga was 9.92. The lowest was 9.92. And the median was .

TSE:2201's EV-to-OCF is ranked worse than
57.02% of 1987 companies
in the Consumer Packaged Goods industry
Industry Median: 8.18 vs TSE:2201: 9.92

EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.

As of today (2026-08-25), Morinaga's stock price is 円2578.50. Morinaga's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was 円204.540. Therefore, Morinaga's PE Ratio (TTM) for today is 12.61.


Morinaga  (TSE:2201) EV-to-OCF Explanation

EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.

Morinaga's PE Ratio (TTM) for today is calculated as:

PE Ratio (TTM)=Share Price (Today)/Earnings per Share (Diluted) (TTM)
=2578.50/204.540
=12.61

Morinaga's share price for today is 円2578.50.
Morinaga's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was 円204.540.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.


Morinaga EV-to-OCF Related Terms


Morinaga EV-to-OCF Historical Data

* Premium members only.

The historical data trend for Morinaga's EV-to-OCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Morinaga EV-to-OCF Chart

Morinaga Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
EV-to-OCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.87 -54.68 6.99 19.13 9.40

Morinaga Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
EV-to-OCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 9.40 0.00

TSE:2201 vs MDLZ, HSY, TR: EV-to-OCF Comparison

For the Confectioners subindustry, Morinaga's EV-to-OCF, along with its competitors' market caps and EV-to-OCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Morinaga EV-to-OCF vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Morinaga's EV-to-OCF distribution charts can be found below:

* The bar in red indicates where Morinaga's EV-to-OCF falls into.


TSE:2201
76GF Score
Morinaga & Co Ltd TSE:2201
EV-to-OCF is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Morinaga EV-to-OCF Calculation

Morinaga's EV-to-OCF for today is calculated as:

EV-to-OCF=Enterprise Value (Today)/Cash Flow from Operations (TTM)
=233877.613/0
=

Morinaga's current Enterprise Value is 円233,878 Mil.
Morinaga's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was 円0 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Is Morinaga (TSE:2201) Overvalued in 2026?

Based on GuruFocus' analysis, Morinaga stock appears to be undervalued. The current stock price of 円2,578.50 is trading 17.5% below its estimated GF Value™ of 円3,126.02. GuruFocus considers Morinaga to be Modestly Undervalued.

Key valuation signals for TSE:2201:

  • EV-to-OCF:
  • GF Value™: 円3,126.02 vs. price of 円2,578.50 (17.5% below fair value)
  • GF Score™: 76/100 with 2 warning signs

No single metric tells the full story. See the TSE:2201 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Morinaga Business Description

Address 5-33-1 Shiba, Minato-ku, Tokyo, JPN, 108-8403
Morinaga & Co Ltd is a Japan-based confectionery company. It has developed a diverse range of confectionery products, canned soft drinks and ice cream that are delicious, fun, and healthy. The company's products are divided into five main divisions, Confectioneries, Foods, Frozen Desserts, Weider, and Healthcare. Confectionaries include Morinaga Biscuits, Chocoball chocolate, Dars chocolate, Koeda chocolate, and HI-CHEW candy. Foods include Morinaga Cocoa; Frozen Desserts include Choco Monaka Jumbo; Weider products include Weider in Jelly; and Healthcare products include Seisho-sabo, Kenpo-shukan, and Collagen drink.
76GF Score

Get the complete analysis for TSE:2201

EV-to-OCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円2,578.50
Price
円3,126.02
GF Value