Goldwin (TSE:8111) Dividend Payout Ratio: 0.39 (As of Mar. 2026) — 50% Above Median

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Director of Data and Quant Analytics at GuruFocus
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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:8111 Goldwin Inc TSE:8111
84 GF Score
Price 円2,284.50
GF Value 円2,938.69
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Goldwin Dividend Payout Ratio?

Goldwin TSE:8111 -0.67% 84 Dividend Payout Ratio is 0.39 as of Mar. 2026, which is 50% above its 10-year median of 0.26. GuruFocus rates TSE:8111 with a GF Score™ of 84/100 and a GF Value™ of 円2,938.69 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 412 Manufacturing - Apparel & Accessories companies, Goldwin ranks better than 66.99% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Goldwin's Dividend Payout Ratio for the months ended in Mar. 2026 was 0.39.

The historical rank and industry rank for Goldwin's Dividend Payout Ratio or its related term are showing as below:

TSE:8111' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.21   Med: 0.26   Max: 0.36
Current: 0.29

During the past 13 years, the highest Dividend Payout Ratio of Goldwin was 0.36. The lowest was 0.21. And the median was 0.26.

TSE:8111's Dividend Payout Ratio is ranked better than
66.99% of 412 companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 0.435 vs TSE:8111: 0.29

As of today (2026-07-15), the Dividend Yield % of Goldwin is 2.39%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Goldwin was 2.92%. The lowest was 0.46%. And the median was 1.01%.

Goldwin's Dividends per Share for the months ended in Mar. 2026 was 円29.00.

During the past 12 months, Goldwin's average Dividends Per Share Growth Rate was 0.60% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 14.20% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 23.20% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 28.60% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Goldwin was 54.60% per year. The lowest was 12.20% per year. And the median was 26.00% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Goldwin (TSE:8111) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Goldwin Dividend Payout Ratio Related Terms

Goldwin Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Goldwin's Dividend Payout Ratio 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.

Goldwin Dividend Payout Ratio Chart

Goldwin Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.27 0.23 0.28 0.29 0.29

Goldwin Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Dividend Payout Ratio 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 0.77 0.00 0.98 0.00 0.39

TSE:8111 vs RL, LEVI, VFC: Dividend Payout Ratio Comparison

For the Apparel Manufacturing subindustry, Goldwin's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio 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.

Goldwin Dividend Payout Ratio vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Goldwin's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Goldwin's Dividend Payout Ratio falls into.


TSE:8111
84GF Score
Goldwin Inc TSE:8111
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Goldwin Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

Goldwin's Dividend Payout Ratio for the fiscal year that ended in Mar. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Mar. 2026 )/ EPS without NRI (A: Mar. 2026 )
=54.66/ 185.607
=0.29

Goldwin's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Mar. 2026 )/ EPS without NRI (Q: Mar. 2026 )
=29/ 73.597
=0.39

* 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.

Frequently Asked Questions Learn more about Dividend Payout Ratio →
What does a Dividend Payout Ratio of 0.39 mean?
Goldwin (TSE:8111) has a Dividend Payout Ratio of 0.39 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Goldwin and its competitors. This is 50% above median its historical median of 0.26. Over the past decade, Goldwin's Dividend Payout Ratio has ranged from 0.21 to 0.36. According to the industry distribution chart, Goldwin ranks #136 out of 412 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 33%.
Is Goldwin's Dividend Payout Ratio too high?
Goldwin's current Dividend Payout Ratio of 0.39 is 50% above median its 10-year median of 0.26. Over the past 10 years, this metric has ranged from a low of 0.21 to a high of 0.36. The Manufacturing - Apparel & Accessories industry median Dividend Payout Ratio is 0.44. Goldwin's value of 0.39 is 10.3% below this industry median. Based on the distribution chart, Goldwin ranks #136 out of 412 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, Goldwin has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Goldwin's Dividend Payout Ratio compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Goldwin ranks #136 out of 412 companies for Dividend Payout Ratio. This puts Goldwin in the upper half of its industry. The industry median Dividend Payout Ratio is 0.44. Goldwin's value of 0.39 is 10.3% below this benchmark. Historically, Goldwin's own Dividend Payout Ratio has ranged from 0.21 to 0.36 over the past decade. While the company's 10-year median is 0.26 vs. the industry median of 0.44, Goldwin has consistently been below 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 Dividend Payout Ratio for a Manufacturing - Apparel & Accessories company?
The median Dividend Payout Ratio among Manufacturing - Apparel & Accessories companies is 0.44, based on 412 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Goldwin's current Dividend Payout Ratio of 0.39 is 10.3% below 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 Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Goldwin and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Dividend Payout Ratio is 0.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Goldwin's current Dividend Payout Ratio is 0.39, which is 50% above median its own 10-year median of 0.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Goldwin stock overvalued right now?
Based on GuruFocus' analysis, Goldwin (TSE:8111) is currently considered Modestly Undervalued. The stock's GF Value™ is 円2,938.69, compared to a current price of 円2,284.50 — trading 22.3% below its estimated fair value. The current Dividend Payout Ratio is 0.39, which is 50% above median its 10-year median of 0.26 and 10.3% below the Manufacturing - Apparel & Accessories industry median of 0.44. Goldwin's overall GF Score™ is 84/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For Goldwin (TSE:8111), the current Dividend Payout Ratio is 0.39 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 Goldwin (TSE:8111) Overvalued in 2026?

Based on GuruFocus' analysis, Goldwin stock appears to be undervalued. The current stock price of 円2,284.50 is trading 22.3% below its estimated GF Value™ of 円2,938.69. GuruFocus considers Goldwin to be Modestly Undervalued.

Key valuation signals for TSE:8111:

  • Dividend Payout Ratio: 0.39 (50% above median its 10-year median of 0.26)
  • GF Value™: 円2,938.69 vs. price of 円2,284.50 (22.3% below fair value)
  • GF Score™: 84/100 with 1 warning sign
  • Industry Position: 10.3% below the Manufacturing - Apparel & Accessories median (#136 of 412)

No single metric tells the full story. See the TSE:8111 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Goldwin Business Description

Other Exchanges GWNCF:USA
Address 210 Kiyosawa, Toyama Prefecture, Oyabe, JPN, 932-0193
Goldwin Inc is involved in the business of manufacturing and selling sports products in Japan. It sells brands such as Goldwin, C3fit, Mxp, Speedo, Ellesse, Danskin, Canterbury, Black and white sport, the North Face, Helly Hansen, Macpac, Alite, Icebreaker, and Fischer.
84GF Score

Get the complete analysis for TSE:8111

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円2,284.50
Price
円2,938.69
GF Value