ITOCHU Corporation ITOCY

IndustrialsDiversified Industrial Goods WholesaleJapan

Last close 14.69 USD on Nov 1, 2026, +17.4% year to date

Quant rating

Quant rating C Rank 274 of 418 in Industrials

Growth D 341 of 418
Valuation C 246 of 418
Quality C 183 of 418
Revisions D 343 of 418
Momentum A 18 of 418

Historical valuation

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

Key data

Market cap: 116.9B
Enterprise value: 147.4B
52-week range: 10.91 – 15.44
3-year range: 7.45 – 15.44
Dividend yield: 1.79%
Beta (5 years): 0.69
Shares outstanding: 7,924M
Next earnings: Nov 6, 2026

About the company

Itochu Corp is a Japan-based company mainly engaged in the trading business. Food segment produces, distributes and sells food products. Energy & Chemicals segment trades and operates in the fields of energy, chemicals and electricity. Living & Lifestyle segment operates in the fields of living materials and logistics, as well as real estate. Machinery segment engages in the infrastructure-related business, power generation and other businesses. Metals segment engages in metal mineral resource development, steel product processing, trade of iron, ore and coal, non-ferrous metals and light metals and steel products. Information & Financial segment engages in information technology (IT) solutions, mobile distribution and services in the information and communications field, as well as financial services and insurance businesses. Textile segment engages in global business in goods from textile raw materials, yarns and fabrics to clothing. Eighth segment collaborates with other segments.

Growth and profitability fiscal year ends March 31

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	93,397	98,194	92,723	105,020	101,047	–
Revenue growth	−4.9%	5.9%	−11.7%	3.9%	7.9%	0.0%
EPS (basic, normalized)	0.51	–	–	–	–	–
EPS growth	–	–	–	–	–	–
Gross margin	16.7%	16.1%	15.9%	15.3%	15.8%	16.0%
Net margin	6.1%	6.0%	5.7%	5.7%	6.7%	6.0%
ROE	14.6%	15.7%	15.6%	17.7%	21.8%	17.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	5,285
Current ratio	1.35x
Long-term debt (mil)	25,535
Net debt (mil)	29,564
Total equity (mil)	41,656
Net debt / equity	0.71x
Net debt / EBITDA	3.79x

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
2026 actual	93,397	−4.9%	1.6x	7,807	–	18.9x	0.51	–	28.9x

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
2027	–	–	–	–	–	–	–	–
2028	–	–	–	–	–	–	–	–
2029	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Diversified Industrial Goods Wholesale

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
ITOCY ITOCHU Corporation	116.9B	3.79x	6.1%	2.40x	–	–	–	–
8058 Mitsubishi Corporation	113.1B	5.80x	4.2%	1.83x	14.4x	14.8x	19.4x	20.3x
8031 MITSUI & CO., LTD.	90.9B	4.77x	6.0%	1.58x	14.0x	13.4x	19.3x	18.8x
8053 SUMITOMO CORPORATION	51.1B	6.05x	8.2%	1.69x	12.0x	11.4x	17.2x	16.7x
8002 Marubeni Corporation	51.9B	3.62x	6.6%	1.80x	12.9x	12.4x	18.8x	18.3x
2768 Sojitz Corp	6.8B	11.61x	3.8%	0.93x	8.2x	7.8x	16.0x	15.7x
Mean		5.94x	5.8%	1.70x	12.3x	11.9x	18.2x	18.0x
Median		5.29x	6.0%	1.74x	12.9x	12.4x	18.8x	18.3x

Technical analysis

1M+4.1%
3M+20.3%
1Y+27.0%
3Y+121.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, ITOCHU Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	93,397	98,194	92,723	105,020	101,047	93,610
Cost of revenue	77,768	82,346	77,969	88,981	85,124	77,524
Gross profit	15,629	15,848	14,754	16,040	15,923	16,086
Selling, general & administrative expenses	9,147	9,127	8,123	8,514	8,657	9,481
Research & development	–	–	–	–	–	–
Depreciation/amortization	1,962	2,066	1,934	2,173	2,412	2,864
Interest expense (income), operating	−1,106	−610	−242	−534	−1,482	−4.9
Unusual expense (income)	166	166	50.8	498	−33.0	1,441
Other operating expenses	−41.4	−108	−34.3	−140	−95.7	104
Operating income	5,501	5,207	4,923	5,528	6,464	2,202
Net interest income (expense)	2,057	2,495	2,319	2,808	2,989	2,427
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	7,558	7,703	7,241	8,335	9,453	4,629
Provision for taxes	1,651	1,481	1,611	1,974	2,228	647
Minority interest	−234	−352	−331	−333	−483	−356
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	5,673	5,870	5,299	6,028	6,742	3,626
Extraordinary items	–	–	–	–	–	–
Net income	5,673	5,870	5,299	6,028	6,742	3,626
EBIT, normalized	4,561	4,764	4,731	5,492	4,949	3,639
EBITDA, normalized	7,383	7,627	7,366	8,323	8,114	7,327
Basic EPS, normalized	0.51	–	–	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, ITOCHU Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	5,050	4,247	4,554	5,187	5,958	5,410
Receivables	20,295	20,125	19,996	20,347	21,467	20,678
Total inventory	9,733	9,886	9,135	9,827	8,854	8,118
Prepaid expenses	2,137	1,832	1,052	1,076	1,014	727
Other current assets	2,292	2,081	2,431	2,130	2,244	3,705
Total current assets	39,507	38,171	37,167	38,567	39,536	38,639
Property, plant & equipment	15,228	14,881	13,949	15,050	15,914	17,523
Goodwill	2,695	2,703	2,537	2,761	3,033	3,585
Intangibles	5,045	5,362	4,920	5,366	5,857	6,585
Long-term investments	34,661	31,685	29,034	28,735	27,076	25,928
Note receivable	7,007	7,164	7,219	7,534	7,690	7,738
Other long-term assets	1,287	962	936	754	793	982
Total assets	105,430	100,929	95,762	98,768	99,899	100,980
Liabilities
Accounts payable	13,430	13,634	14,057	13,889	14,508	13,274
Payable/accrued	–	–	–	–	–	–
Accrued expenses	–	–	–	–	–	–
Short-term debt	3,327	3,772	2,926	2,868	1,939	2,690
Current portion of long-term debt	2,906	3,314	3,366	3,894	4,294	5,879
Other current liabilities	10,354	9,201	8,350	9,056	9,265	10,267
Total current liabilities	30,018	29,921	28,699	29,707	30,006	32,111
Long-term debt	23,747	23,736	22,762	23,445	25,963	29,542
Minority interest	3,770	3,572	3,735	4,851	4,639	5,004
Other liabilities	6,374	5,320	4,699	4,443	4,774	4,366
Total liabilities	63,908	62,549	59,895	62,446	65,382	71,022
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1,597	1,690	1,675	1,909	2,083	2,290
Additional paid-in capital	−2,894	−2,959	−2,953	−1,275	−1,331	−1,402
Retained earnings (accumulated deficit)	39,505	37,735	33,256	33,395	31,333	29,259
Treasury stock	−4,587	−3,732	−2,655	−2,274	−1,983	−1,638
Other equity	7,902	5,645	6,543	4,568	4,414	1,449
Total equity	41,522	38,380	35,867	36,322	34,517	29,957
Total liabilities & shareholders' equity	105,430	100,929	95,762	98,768	99,899	100,980

Cash flow statement in millions of USD, fiscal years

Cash flow statement, ITOCHU Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	5,907	6,222	5,630	6,361	7,225	3,983
Depreciation, depletion & amortization	2,890	3,001	2,778	3,087	3,322	3,833
Deferred taxes	–	–	–	–	–	–
Non-cash items	−1,269	−1,389	−832	−987	−2,381	−119
Changes in working capital	−396	−1,183	−1,112	−1,397	−1,217	−4.1
Cash from operations	7,131	6,651	6,464	7,064	6,950	7,693
Investing activities
Capital expenditures	−1,796	−1,517	−1,339	−1,462	−1,292	−1,491
Other investing cash flows	−655	−1,926	−22.8	−1,956	1,609	−382
Cash from investing	−2,450	−3,443	−1,361	−3,417	318	−1,873
Financing activities
Financing cash flow items	−526	−476	−2,705	197	−288	−5,055
Cash dividends paid	−1,781	−1,725	−1,490	−1,419	−1,113	−1,165
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−2,270	−1,300	−1,100	−2,545	−5,559	−363
Cash from financing	−4,577	−3,501	−5,295	−3,766	−6,960	−6,583
Foreign exchange effects	175	−45.8	155	76.2	249	156
Net change in cash	278	−339	−36.8	−43.0	557	−607
Free cash flow	5,336	5,134	5,126	5,603	5,658	6,202

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.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

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Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.