Marubeni Corporation MARUY

IndustrialsDiversified Industrial Goods WholesaleJapan

Last close 30.81 USD on Nov 2, 2026, +12.8% year to date

Quant rating

Quant rating B Rank 128 of 418 in Industrials

Growth D 323 of 418
Valuation B 71 of 418
Quality C 269 of 418
Revisions A 15 of 418
Momentum B 131 of 418

Wall Street consensus Strong Buy (1.00)Average target 40.32 USD +30.9%

Historical valuation

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

Key data

Market cap: 50.8B
Enterprise value: 62.0B
52-week range: 23.50 – 42.61
3-year range: 14.04 – 42.61
Dividend yield: 2.19%
Beta (5 years): 0.63
Shares outstanding: 1,661M
Next earnings: Nov 4, 2026

About the company

Marubeni Corp is engaged in the import, export and transaction of various products through domestic and overseas networks. The Company has sixteen segments. The Lifestyle segment includes apparel, footwear, daily necessities, sporting goods. The Information Solutions segment includes services utilizing digital technology in the ICT and logistics fields. The Food 1 segment includes dairy products, sugar, processed foods and beverages. The Food 2 segment includes feed grains, soybeans, wheat. The Agri segment includes agricultural materials sale business. The Forest Products segment includes papermaking raw materials and paperboard. The Chemicals segment includes petrochemicals and electronic materials. The segments also include the Metals, the New Energy Development Promotion Department, the Energy, the Electricity, the Infrastructure Projects, the Aviation and Ship, the Finance, Leasing and Real Estate, the Construction & Industrial Machinery, Next Generation Business Development.

Growth and profitability fiscal year ends March 31

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	52,081	51,952	47,918	69,211	69,937	–
Revenue growth	0.2%	8.4%	−30.8%	−1.0%	22.3%	−1.9%
EPS (basic, normalized)	2.19	1.99	1.93	2.33	–	–
EPS growth	10.4%	2.7%	−17.1%	–	–	–
Gross margin	14.3%	14.7%	14.7%	11.4%	10.5%	13.1%
Net margin	6.6%	6.5%	6.5%	5.9%	5.0%	6.1%
ROE	13.6%	14.2%	14.9%	21.2%	20.9%	17.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	6,327
Current ratio	1.36x
Long-term debt (mil)	11,721
Net debt (mil)	10,954
Total equity (mil)	27,450
Net debt / equity	0.40x
Net debt / EBITDA	3.47x

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	52,081	+0.2%	1.2x	3,153	−16.8%	19.7x	2.19	+10.4%	14.1x
2027	63,291	+21.5%	1.0x	3,506	+11.2%	17.7x	2.62	+19.5%	11.8x
2028	63,834	+0.9%	1.0x	3,512	+0.2%	17.6x	2.65	+1.1%	11.6x

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	63,291	+16.9%	+16.9%	+4.4%	2.62	+11.0%	+11.0%	+12.1%
2028	63,834	+16.0%	+16.0%	–	2.65	+7.3%	+7.3%	–
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
MARUY Marubeni Corporation	50.8B	3.47x	6.6%	1.76x	11.8x	11.6x	17.7x	17.6x
ITOCY ITOCHU Corporation	114.2B	3.79x	6.1%	2.35x	–	–	–	–
GIC Global Industrial Company	1.7B	−0.82x	5.2%	4.90x	19.4x	20.4x	13.2x	14.2x
ZKH ZKH Group Ltd	265M	17.38x	−1.6%	0.61x	12.5x	7.5x	2.5x	1.5x
Mean		5.95x	4.1%	2.40x	14.6x	13.1x	11.1x	11.1x
Median		3.63x	5.6%	2.05x	12.5x	11.6x	13.2x	14.2x

Technical analysis

1M+2.2%
3M−4.7%
1Y+26.3%
3Y+118.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Marubeni Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	52,081	51,952	47,918	69,211	69,937	57,203
Cost of revenue	44,629	44,305	40,874	61,294	62,578	51,102
Gross profit	7,452	7,646	7,044	7,917	7,359	6,101
Selling, general & administrative expenses	5,756	5,755	5,163	5,305	4,986	4,782
Research & development	–	–	–	–	–	–
Interest expense (income), operating	18.3	113	47.1	168	115	3.1
Unusual expense (income)	−555	−51.3	165	−269	−16.0	50.9
Other operating expenses	−77.9	−706	−172	−196	−16.6	30.2
Operating income	2,310	2,535	1,841	2,909	2,291	1,236
Net interest income (expense)	1,877	1,661	1,907	1,999	2,055	1,310
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	4,187	4,196	3,748	4,908	4,346	2,545
Provision for taxes	663	762	559	745	771	459
Minority interest	−96.5	−80.3	−73.6	−73.9	−87.4	−69.8
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	3,427	3,354	3,116	4,089	3,488	2,017
Extraordinary items	–	–	–	–	–	–
Net income	3,427	3,354	3,116	4,089	3,488	2,017
EBIT, normalized	1,773	2,597	2,053	2,808	2,390	1,290
EBITDA, normalized	3,090	3,911	3,213	3,970	3,547	2,592
Basic EPS, normalized	2.19	1.99	1.93	2.33	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Marubeni Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	4,931	4,688	4,205	5,593	6,766	8,030
Receivables	9,893	10,128	10,251	10,071	11,055	9,551
Total inventory	8,020	7,872	7,790	8,720	11,746	8,925
Prepaid expenses	–	–	–	–	–	–
Other current assets	5,548	4,131	3,834	3,937	6,850	4,041
Total current assets	28,392	26,819	26,081	28,320	36,417	30,547
Property, plant & equipment	7,213	7,505	7,147	7,136	7,848	9,050
Goodwill	1,682	1,491	1,417	1,157	1,186	1,205
Intangibles	1,833	1,465	1,122	1,109	1,181	1,477
Long-term investments	24,812	22,074	21,132	19,950	19,039	18,480
Note receivable	850	867	914	962	809	856
Other long-term assets	1,576	1,147	1,164	1,262	1,378	1,037
Total assets	66,359	61,367	58,976	59,896	67,858	62,654
Liabilities
Accounts payable	8,861	8,936	9,061	9,855	12,276	10,729
Payable/accrued	–	–	–	–	–	–
Accrued expenses	–	–	–	–	–	–
Short-term debt	1,469	1,652	1,548	1,122	2,789	2,475
Current portion of long-term debt	1,969	2,240	2,235	2,984	3,731	3,616
Other current liabilities	8,374	5,998	5,966	7,105	11,395	7,501
Total current liabilities	20,673	18,826	18,811	21,066	30,191	24,321
Long-term debt	13,299	14,626	13,914	13,560	15,487	18,230
Minority interest	946	930	682	785	790	838
Other liabilities	3,946	2,783	2,704	2,814	2,959	2,871
Total liabilities	38,864	37,164	36,111	38,225	49,428	46,260
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1,662	1,759	1,742	1,983	2,161	2,373
Additional paid-in capital	643	633	650	808	1,181	1,298
Retained earnings (accumulated deficit)	18,125	16,241	13,791	13,391	11,341	9,642
Treasury stock	−468	−38.7	−27.7	−25.3	−162	−7.0
Other equity	7,534	5,609	6,710	5,515	3,909	3,088
Total equity	27,495	24,203	22,865	21,671	18,430	16,394
Total liabilities & shareholders' equity	66,359	61,367	58,976	59,896	67,858	62,654

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Marubeni Corporation, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	3,523	3,435	3,189	4,163	3,575	2,105
Depreciation, depletion & amortization	1,317	1,329	1,174	1,179	1,176	1,305
Deferred taxes	–	–	–	–	–	–
Non-cash items	−1,846	−1,026	−1,238	−1,568	−1,335	−860
Changes in working capital	379	234	−201	793	−845	1,029
Cash from operations	3,373	3,972	2,924	4,567	2,571	3,579
Investing activities
Capital expenditures	−967	−1,184	−1,014	−785	−837	−1,121
Other investing cash flows	224	−1,452	−1,197	1,966	182	70.8
Cash from investing	−743	−2,636	−2,210	1,181	−655	−1,050
Financing activities
Financing cash flow items	−70.4	134	−1,160	−21.9	−932	−89.5
Cash dividends paid	−1,041	−983	−916	−958	−678	−447
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−1,826	35.8	396	−4,793	−1,839	−82.3
Cash from financing	−2,938	−814	−1,680	−5,773	−3,449	−619
Foreign exchange effects	194	−102	287	253	159	108
Net change in cash	−114	419	−678	228	−1,375	2,017
Free cash flow	2,406	2,788	1,911	3,782	1,734	2,458

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.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

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