ASAHI KASEI CORPORATION AHKSY

MaterialsChemicalsJapan

Last close 20.03 USD on Nov 2, 2026, +14.8% year to date

Quant rating

Quant rating D Rank 159 of 220 in Materials

Growth D 189 of 220
Valuation B 77 of 220
Quality C 131 of 220
Revisions D 193 of 220
Momentum B 62 of 220

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 13.5B
Enterprise value: 19.4B
52-week range: 15.19 – 24.12
3-year range: 12.28 – 24.12
Dividend yield: 2.64%
Beta (5 years): 0.61
Shares outstanding: 1,343M
Next earnings: Nov 4, 2026

About the company

Asahi Kasei Corp is a Japan-based company mainly engaged in the materials business, housing business and healthcare business. The Company operates through three business segments. The Materials segment provides styrene monomer, acrylonitrile, polyethylene, automotive-related fibers, electronic materials, mixed signal large scale integrated circuits (LSI), hall elements, deep ultraviolet light-emitting diodes (LEDs), pharmaceutical and food additives and others. The Housing segment provides construction contracting, renovation and other housing-related business, as well as lightweight aerated concrete (ALC), insulation materials and others. The Healthcare segment provides medical drugs, hemodialysis and apheresis related equipment, virus removal filters, cardiopulmonary resuscitation-related products and others. The Company also provides plant engineering, environmental engineering, various research and information provision businesses, and personnel dispatch and introduction services.

Growth and profitability fiscal year ends March 31

Growth and profitability by fiscal year
	2003	2002	2001	2000	1999	5Y avg
Revenue (mil)	19,372	20,255	18,405	20,532	20,231	–
Revenue growth	−4.4%	10.1%	−10.4%	1.5%	6.3%	0.4%
EPS (basic, normalized)	−0.80	0.06	–	–	–	–
EPS growth	–	–	–	–	–	–
Gross margin	32.8%	31.5%	29.3%	28.4%	31.3%	30.7%
Net margin	5.2%	4.4%	1.6%	−3.4%	6.6%	2.9%
ROE	8.0%	7.4%	2.5%	−5.5%	10.3%	4.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	2,383
Current ratio	2.01x
Long-term debt (mil)	5,682
Net debt (mil)	5,792
Total equity (mil)	13,024
Net debt / equity	0.44x
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2003 actual	19,372	−4.4%	1.0x	–	–	–	−0.80	−1,528.6%	−25.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2004	–	–	–	–	–	–	–	–
2005	–	–	–	–	–	–	–	–
2006	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	Jun 2003
Sales reported (mil)	–	–	–	–	–	–	–	–	–	826
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	0.01
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

Peer comparison Chemicals

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
AHKSY ASAHI KASEI CORPORATION	13.5B	–	5.2%	1.00x	–	–	–	–
SQM Sociedad Quimica y Minera de Chile SA	15.1B	2.29x	12.9%	2.47x	7.4x	7.6x	4.5x	4.7x
SYIEY Symrise AG	14.8B	–	5.1%	3.48x	22.9x	19.8x	13.5x	12.6x
COVTY Covestro AG	14.1B	–	–	–	–	–	–	–
NDEKY NITTO DENKO CORPORATION	14.0B	–	13.0%	1.90x	–	–	–	–
RPM RPM International Inc	13.7B	1.70x	8.4%	3.95x	18.2x	16.3x	12.2x	11.3x
Mean		1.99x	8.9%	2.56x	16.2x	14.6x	10.0x	9.5x
Median		1.99x	8.4%	2.47x	18.2x	16.3x	12.2x	11.3x

Technical analysis

1M−4.3%
3M−6.8%
1Y+33.1%
3Y+76.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, ASAHI KASEI CORPORATION, fiscal years, most recent first
	2003	2002	2001	2000	1999	1998
Total revenue	19,372	20,255	18,405	20,532	20,231	19,025
Cost of revenue	13,017	13,865	13,012	14,705	13,904	12,876
Gross profit	6,355	6,391	5,393	5,827	6,327	6,149
Selling, general & administrative expenses	3,845	3,910	3,978	4,308	4,074	4,041
Research & development	510	539	485	558	588	556
Depreciation/amortization	543	529	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	324	154	554	1,535	139	309
Other operating expenses	0	0	0	0	0	0
Operating income	1,133	1,259	376	−573	1,527	1,243
Net interest income (expense)	333	160	−48.1	265	308	215
Gain (loss) on sale of assets	−38.6	−54.5	−29.9	−88.8	−54.4	−92.9
Other non-operating income (expense)	−75.5	−66.2	−107	−73.4	−12.5	−2.0
Net income before taxes	1,352	1,298	191	−471	1,768	1,363
Provision for taxes	322	361	−116	207	422	622
Minority interest	−29.9	−36.1	−16.7	−14.6	−16.1	−21.0
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	1,001	900	290	−692	1,331	721
Extraordinary items	–	–	–	–	–	–
Net income	1,001	900	290	−692	1,331	721
EBIT, normalized	1,457	1,413	930	962	1,666	1,552
EBITDA, normalized	2,694	2,654	2,134	2,292	2,883	2,756
Basic EPS, normalized	−0.80	0.06	–	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, ASAHI KASEI CORPORATION, fiscal years, most recent first
	2003	2002	2001	2000	1999	1998
Assets
Cash & short-term investments	2,376	2,624	2,235	1,892	2,011	2,003
Receivables	3,213	3,252	3,193	3,314	3,552	3,039
Total inventory	5,001	4,797	4,486	4,839	4,441	4,349
Prepaid expenses	–	–	–	–	–	–
Other current assets	1,163	1,127	992	1,162	963	877
Total current assets	11,753	11,800	10,905	11,207	10,967	10,269
Property, plant & equipment	6,056	6,139	5,639	6,565	6,619	6,479
Goodwill	2,418	2,598	2,384	2,625	3,545	3,179
Intangibles	3,365	3,607	2,604	2,919	3,333	3,094
Long-term investments	884	1,123	1,244	1,601	2,028	2,588
Note receivable	66.3	63.8	114	63.8	51.2	11.2
Other long-term assets	1,530	1,445	1,316	1,030	985	748
Total assets	26,072	26,777	24,207	26,010	27,528	26,368
Liabilities
Accounts payable	1,229	1,291	1,409	1,360	1,464	1,284
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,240	1,205	1,002	1,108	1,202	1,145
Short-term debt	235	1,510	1,373	934	2,296	1,565
Current portion of long-term debt	642	613	603	1,828	620	507
Other current liabilities	1,651	1,814	1,658	1,639	2,012	1,851
Total current liabilities	4,997	6,433	6,044	6,869	7,594	6,352
Long-term debt	5,494	5,847	4,340	4,578	3,473	3,923
Minority interest	486	364	233	264	258	244
Other liabilities	1,936	1,733	1,605	1,795	2,334	2,592
Total liabilities	12,913	14,377	12,222	13,507	13,658	13,112
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	651	689	683	779	850	934
Additional paid-in capital	506	536	531	601	657	719
Retained earnings (accumulated deficit)	8,158	7,943	7,505	8,598	10,540	10,468
Treasury stock	−63.9	−53.5	−48.4	−55.9	−51.1	−53.6
Other equity	3,908	3,285	3,314	2,582	1,874	1,189
Total equity	13,159	12,400	11,985	12,503	13,870	13,256
Total liabilities & shareholders' equity	26,072	26,777	24,207	26,010	27,528	26,368

Cash flow statement in millions of USD, fiscal years

Cash flow statement, ASAHI KASEI CORPORATION, fiscal years, most recent first
	2003	2002	2001	2000	1999	1998
Operating activities
Net income	1,352	1,298	191	−466	1,768	1,363
Depreciation, depletion & amortization	1,237	1,241	1,204	1,330	1,218	1,204
Deferred taxes	–	–	–	–	–	–
Non-cash items	−214	−48.2	722	1,313	−208	3.5
Changes in working capital	−465	−479	−181	−1,492	−1,262	−263
Cash from operations	1,910	2,011	1,936	685	1,516	2,308
Investing activities
Capital expenditures	−1,330	−1,453	−1,136	−1,296	−1,395	−1,358
Other investing cash flows	656	−1,088	194	−312	−422	−67.4
Cash from investing	−673	−2,542	−942	−1,608	−1,817	−1,425
Financing activities
Financing cash flow items	99.0	86.1	−10.1	−1.4	−19.2	−16.2
Cash dividends paid	−343	−333	−330	−366	−388	−414
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−1,302	1,211	−283	1,209	755	−436
Cash from financing	−1,546	964	−623	842	348	−866
Foreign exchange effects	196	−56.7	196	119	173	87.1
Net change in cash	−113	377	566	37.3	220	104
Free cash flow	580	558	799	−611	121	950

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

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Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.