MorinagaTSE:2201 -1.85%85 Gross Margin % is 38.95% as of Mar. 2026, which is 8% below its 10-year median of 42.49. GuruFocus rates TSE:2201 with a GF Score™ of 85/100 and a GF Value™ of 円3,103.58 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,898 Consumer Packaged Goods companies, Morinaga ranks better than 75.76% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Morinaga's Gross Profit for the
three
months ended in Mar. 2026 was 円21,439 Mil. Morinaga's Revenue for the
three
months ended in Mar. 2026 was 円55,038 Mil. Therefore, Morinaga's Gross Margin % for the quarter that ended in Mar. 2026 was 38.95%.
Warning Sign:
Morinaga & Co Ltd gross margin has been in long-term decline. The average rate of decline per year is -1.5%.
The historical rank and industry rank for Morinaga's Gross Margin % or its related term are showing as below:
TSE:2201'
s Gross Margin % Range Over the Past 10 Years
Min: 39.33 Med: 42.49 Max: 52.72
Current: 40.12
During the past 13 years, the highestGross Margin % of Morinaga was 52.72%. The lowest was 39.33%. And the median was 42.49%.
TSE:2201's Gross Margin % is ranked better than 75.76% of 1898
companies
in the Consumer Packaged Goods industry
Industry Median: 26.355
vs TSE:2201: 40.12
Morinaga had a gross margin of 38.95% for the quarter that ended in Mar. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Morinaga was -1.50% per year.
Morinaga (TSE:2201) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Morinaga had a gross margin of 38.95% for the quarter that ended in Mar. 2026 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Morinaga Gross Margin % Related Terms
Morinaga Gross Margin % Historical Data
* Premium members only.
The historical data trend for Morinaga's Gross Margin % 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.
TSE:2201 vs MDLZ, HSY, TR: Gross Margin % Comparison
For the Confectioners subindustry, Morinaga's Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Morinaga's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Morinaga's Gross Margin % falls into.
* 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Morinaga (TSE:2201) has a Gross Margin % of 38.95% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Morinaga and its competitors. This is near median its historical median of 42.49. Over the past decade, Morinaga's Gross Margin % has ranged from 39.33 to 52.72. According to the industry distribution chart, Morinaga ranks #460 out of 1898 companies in the Consumer Packaged Goods industry, placing it in the top 24.2%.
Is Morinaga's Gross Margin % too high?
Morinaga's current Gross Margin % of 38.95% is near median its 10-year median of 42.49. Over the past 10 years, this metric has ranged from a low of 39.33 to a high of 52.72. The Consumer Packaged Goods industry median Gross Margin % is 26.36. Morinaga's value of 38.95% is 47.8% above this industry median. Based on the distribution chart, Morinaga ranks #460 out of 1898 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Morinaga has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Morinaga's Gross Margin % compare to MDLZ and HSY?
According to the Consumer Packaged Goods industry distribution chart, Morinaga ranks #460 out of 1898 companies for Gross Margin %. This places Morinaga in the top 24% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 26.36. Morinaga's value of 38.95% is 47.8% above this benchmark. Historically, Morinaga's own Gross Margin % has ranged from 39.33 to 52.72 over the past decade. While the company's 10-year median is 42.49 vs. the industry median of 26.36, Morinaga has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Consumer Packaged Goods company?
The median Gross Margin % among Consumer Packaged Goods companies is 26.36, based on 1,898 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Morinaga's current Gross Margin % of 38.95% is 47.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Morinaga and its competitors. For the Consumer Packaged Goods industry, the median Gross Margin % is 26.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morinaga's current Gross Margin % is 38.95%, which is near median its own 10-year median of 42.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Morinaga stock overvalued right now?
Based on GuruFocus' analysis, Morinaga (TSE:2201) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,103.58, compared to a current price of 円2,656.00 — trading 14.4% below its estimated fair value. The current Gross Margin % is 38.95%, which is near median its 10-year median of 42.49 and 47.8% above the Consumer Packaged Goods industry median of 26.36. Morinaga's overall GF Score™ is 85/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Morinaga (TSE:2201), the current Gross Margin % is 38.95% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Morinaga (TSE:2201) Overvalued in 2026?
Based on GuruFocus' analysis, Morinaga stock appears to be undervalued.
The current stock price of 円2,656.00 is trading 14.4% below its estimated GF Value™ of 円3,103.58.
GuruFocus considers Morinaga to be Modestly Undervalued.
Key valuation signals for TSE:2201:
Gross Margin %: 38.95% (near median its 10-year median of 42.49)
GF Value™: 円3,103.58 vs. price of 円2,656.00 (14.4% below fair value)
Industry Position: 47.8% above the Consumer Packaged Goods median (#460 of 1898)
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 & 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.
85GF Score
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