Yamazaki Baking Co Ltd
TSE:2212

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Yamazaki Baking Co Ltd
TSE:2212
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Price: 3 213 JPY 2.26% Market Closed
Market Cap: ¥650.9B

P/S

0.5
Current
2%
Cheaper
vs 3-y average of 0.5

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
0.5
=
Market Cap
¥643B
/
Revenue
¥1.3T

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
0.5
=
Market Cap
¥643B
/
Revenue
¥1.3T

Valuation Scenarios

Yamazaki Baking Co Ltd is trading below its 3-year average

If P/S returns to its 3-Year Average (0.5), the stock would be worth ¥3 292.97 (2% upside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-8%
Maximum Upside
+127%
Average Upside
43%
Scenario P/S Value Implied Price Upside/Downside
Current Multiple 0.5 ¥3 213
0%
3-Year Average 0.5 ¥3 292.97
+2%
5-Year Average 0.4 ¥2 951.83
-8%
Industry Average 0.7 ¥4 777.12
+49%
Country Average 1.1 ¥7 304.73
+127%

Forward P/S
Today’s price vs future revenue

Today's Market Cap Revenue Forward P/S
¥643B
/
Jan 2026
¥1.3T
=
0.5
Current
¥643B
/
Dec 2026
¥1.4T
=
0.5
Forward
¥643B
/
Dec 2027
¥1.4T
=
0.5
Forward
¥643B
/
Dec 2028
¥1.4T
=
0.5
Forward

Forward P/S shows whether today’s P/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
P/S
P/E
All Countries
Close
Market Cap P/S P/E
JP
Yamazaki Baking Co Ltd
TSE:2212
634.7B JPY 0.5 15.5
JP
Goyo Foods Industry Co Ltd
TSE:2230
53.2T JPY 23 895.9 540 752.8
CH
Nestle SA
SIX:NESN
207B CHF 2.3 23
US
Mondelez International Inc
NASDAQ:MDLZ
73.6B USD 1.9 30.6
FR
Danone SA
PAR:BN
43.1B EUR 1.6 23.8
ZA
Tiger Brands Ltd
JSE:TBS
48.6B ZAR 1.4 12.7
US
Hershey Co
NYSE:HSY
37.8B USD 3.3 43.2
CN
Foshan Haitian Flavouring and Food Co Ltd
SSE:603288
232.8B CNY 8.1 33.1
CN
Muyuan Foods Co Ltd
SZSE:002714
230.9B CNY 1.7 23.6
ZA
Avi Ltd
JSE:AVI
33.1B ZAR 2 12.8
CH
Chocoladefabriken Lindt & Spruengli AG
SIX:LISN
23.2B CHF 3.9 31.7

Market Distribution

Lower than 81% of companies in Japan
Percentile
19th
Based on 5 249 companies
19th percentile
0.5
Low
0 — 0.7
Typical Range
0.7 — 1.9
High
1.9 —
Distribution Statistics
Japan
Min 0
30th Percentile 0.7
Median 1.1
70th Percentile 1.9
Max 12 107 466

Yamazaki Baking Co Ltd
Glance View

Market Cap
650.9B JPY
Industry
Food Products

Yamazaki Baking Co Ltd., founded in the post-war recovery era of 1948, has grown from its humble beginnings to become the largest bread-baking company in Japan. Initially, the company started as a small bakery in Tokyo, striving to provide the nation with quality bread during a time when staple foods were in urgent demand. Over the years, through persistent innovation and a steadfast commitment to quality, Yamazaki expanded its offerings beyond bread to include a wide array of baked goods, snacks, and desserts. The company's comprehensive product line features everything from traditional Japanese sweets to Western pastries, ensuring their products cater to varied consumer tastes across Japan. At the heart of Yamazaki's business model is its comprehensive distribution network, which ensures fresh products reach supermarkets, convenience stores, and its own retail outlets daily. By mastering the logistics of delivering bakery products efficiently and maintaining partnerships with retail giants, Yamazaki secures a steady stream of revenue. Moreover, its strategic acquisitions and overseas expansions have fueled growth, serving as a testament to its ability to adapt to global market dynamics while retaining its reputation for quality and freshness. This infrastructure not only underpins its domestic dominance but also amplifies its presence within the broader Asian market, thus ensuring continued resilience and profitability in a competitive industry.

Intrinsic Value
3 979.74 JPY
Undervaluation 19%
Intrinsic Value
Price ¥3 213
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