Japan Tobacco
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
0.110.100.100.10
Price/Sales ratio
N/AN/AN/AN/A
Earnings per Share (EPS)
$136.84$150.35$148.86$156.99

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
16.4816.5016.2316.5111.976.166.016.095.276.677.387.38
Price/Sales ratio
2.963.553.193.022.080.980.890.880.871.132.452.08
Price/Book Value ratio
2.353.272.782.341.750.800.730.730.650.840.830.83
Price/Cash Flow ratio
11.0017.1118.1815.4610.003.973.593.444.825.685.965.96
Price/Free Cash Flow ratio
13.9323.6225.7823.2215.255.274.534.156.077.2215.1715.17
Price/Earnings Growth ratio
-1.080.46-1.25-2.37-6.900.07-0.550.670.170.75-0.02-6.90
Dividend Yield
3.03%2.34%3.34%3.75%5.62%12.62%14.63%12.21%11.40%11.40%1.64%12.62%
Profitability Indicator Ratios
Gross Profit Margin
59.27%59.16%59.29%60.57%57.89%56.68%57.08%58.84%58.95%56.84%54.58%56.68%
Operating Profit Margin
23.08%25.08%27.68%26.22%25.49%23.09%22.41%21.46%24.59%23.66%23.00%23.09%
Pretax Profit Margin
24.88%25.08%26.97%25.16%23.98%21.38%20.07%20.31%22.32%21.87%21.44%21.44%
Net Profit Margin
17.96%21.55%19.67%18.33%17.40%16.00%14.82%14.55%16.65%16.97%16.58%16.58%
Effective Tax Rate
26.42%28.73%26.36%26.32%27.10%22.27%25.71%27.98%25.15%21.92%22.13%22.27%
Return on Assets
7.85%10.65%8.88%7.51%7.06%6.27%5.76%5.86%6.76%6.62%6.36%6.36%
Return On Equity
14.30%19.81%17.16%14.20%14.66%13.07%12.29%12.04%12.50%12.59%12.37%13.07%
Return on Capital Employed
14.30%17.16%17.51%14.99%14.01%12.39%11.55%11.67%13.10%12.55%11.32%12.39%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A1.99N/A
Quick Ratio
0.810.970.770.740.810.831.101.171.301.251.450.81
Cash ratio
0.280.410.210.190.190.230.400.480.550.530.620.19
Days of Sales Outstanding
78.4163.3565.5970.9675.2072.2070.2571.6865.5368.7779.5675.20
Days of Inventory outstanding
260.85223.67233.80265.21253.97262.46219.39214.82231.48247.88250.73262.46
Operating Cycle
339.27287.03299.40336.17329.18334.67289.64286.51297.02316.65330.29329.18
Days of Payables Outstanding
59.3428.6855.7874.39148.8562.1176.11212.00180.69176.49139.7462.11
Cash Conversion Cycle
279.92258.34243.61261.78180.33272.55213.5374.50116.33140.16190.55180.33
Debt Ratios
Debt Ratio
0.040.050.120.140.170.170.170.150.140.150.140.17
Debt Equity Ratio
0.080.100.230.270.370.360.380.320.270.290.250.36
Long-term Debt to Capitalization
0.030.080.120.110.210.200.240.210.180.190.190.20
Total Debt to Capitalization
0.070.090.180.210.270.260.270.240.210.220.200.26
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A6.73N/A
Cash Flow to Debt Ratio
2.601.890.660.540.470.550.540.650.500.490.530.47
Company Equity Multiplier
1.821.851.931.892.072.082.132.051.841.901.772.08
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.260.200.170.190.200.240.240.250.180.190.200.24
Free Cash Flow / Operating Cash Flow Ratio
0.780.720.700.660.650.750.790.820.790.780.780.65
Cash Flow Coverage Ratio
2.601.890.660.540.470.550.540.650.500.490.530.47
Short Term Coverage Ratio
5.0515.121.691.031.841.903.674.193.522.438.101.84
Dividend Payout Ratio
50.04%38.63%54.36%62.06%67.32%77.79%88.03%74.42%60.12%76.16%68.79%67.32%