Suntory Beverage & Food Ltd STBFY

Consumer StaplesBeveragesJapan

Last close 15.24 USD on Nov 2, 2026, +2.7% year to date

Quant rating

Quant rating D Rank 137 of 174 in Consumer Staples

Growth D 138 of 174
Valuation B 69 of 174
Quality C 104 of 174
Revisions D 144 of 174
Momentum C 73 of 174

Historical valuation

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

Key data

Market cap: 9.4B
Enterprise value: 9.2B
52-week range: 12.83 – 16.91
3-year range: 12.83 – 19.55
Dividend yield: 2.54%
Beta (5 years): 0.09
Shares outstanding: 309M
Next earnings: Nov 10, 2026

About the company

Suntory Beverage & Food Ltd is a Japan-based company mainly engaged in the manufacture and sale of beverages and food. It operates through four geographical segments. Japan segment manufactures and sells mineral water, coffee drinks, tea drinks, carbonated drinks, sports drinks and others, and engages in marketing and product planning for soft drinks in Japan. Asia Pacific segment manufactures and sells health foods BRAND'S Essence of Chicken series in Southeast Asia, energy drink V and the fruit juice drink JUST JUICE, sells the energy drink Sting and the Suntory brand tea drink TEA+ in Vietnam, carbonated drinks PEPSI in Thailand, Ribena and Lucozade in Malaysia, Hong Kong and Singapore. European segment manufactures and sells carbonated drinks Orangina and Schweppes, fruit juice drinks Oasis and Ribena and energy drinks and sports drinks Lucozade in Europe. Americas segment manufactures and sells soft drinks, spirits, beer, wine and others and operates restaurants in North America.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	10,951	10,795	11,284	11,062	11,026	–
Revenue growth	1.4%	−4.3%	2.0%	0.3%	−3.4%	−0.8%
EPS (basic, normalized)	0.99	–	1.01	–	–	–
EPS growth	–	–	–	–	–	–
Gross margin	37.4%	38.1%	37.1%	38.1%	41.2%	38.4%
Net margin	5.2%	5.5%	5.2%	5.7%	5.4%	5.4%
ROE	7.0%	8.1%	8.1%	9.0%	8.4%	8.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,011
Current ratio	1.31x
Long-term debt (mil)	2.9
Net debt (mil)	−177
Total equity (mil)	8,332
Net debt / equity	−0.02x
Net debt / EBITDA	−0.11x

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
2025 actual	10,951	+1.4%	0.8x	1,552	–	5.9x	0.99	–	15.4x

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
2026	–	–	–	–	–	–	–	–
2027	–	–	–	–	–	–	–	–
2028	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	Dec 2022	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	369,003	–	–	–	–	–	–	–	–
Sales mean (mil)	2,867,670	2,899,690	–	–	–	–	–	–	–	–
Surprise	–	−87.3%	–	–	–	–	–	–	–	–
EPS reported	–	23.14	–	–	–	–	–	–	–	–
EPS mean	0.29	0.14	–	–	–	–	–	–	–	–
Surprise	–	+16,425.0%	–	–	–	–	–	–	–	–

Peer comparison Beverages

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
STBFY Suntory Beverage & Food Ltd	9.4B	−0.11x	5.2%	1.09x	–	–	–	–
KO Coca-Cola Co	412.3B	1.69x	27.3%	11.03x	28.7x	27.1x	25.1x	24.1x
PEP PepsiCo, Inc.	191.4B	2.22x	8.8%	8.59x	16.7x	16.3x	12.2x	11.9x
MNST Monster Beverage Corporation	93.9B	–	23.0%	10.05x	41.5x	36.4x	30.0x	26.8x
CCEP Coca-Cola Europacific Partners PLC	50.8B	–	9.3%	5.53x	23.0x	21.2x	14.4x	13.6x
KDP Keurig Dr Pepper Inc	50.1B	8.45x	12.5%	1.70x	16.1x	14.6x	13.2x	11.6x
Mean		3.06x	14.3%	6.33x	25.2x	23.1x	19.0x	17.6x
Median		1.96x	10.9%	7.06x	23.0x	21.2x	14.4x	13.6x

Technical analysis

1M+8.0%
3M+5.4%
1Y+3.8%
3Y+5.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Suntory Beverage & Food Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	10,951	10,795	11,284	11,062	11,026	11,412
Cost of revenue	6,853	6,680	7,101	6,848	6,480	6,725
Gross profit	4,098	4,116	4,183	4,214	4,546	4,687
Selling, general & administrative expenses	2,841	2,794	2,888	2,918	3,141	3,339
Research & development	–	–	–	–	–	–
Depreciation/amortization	253	247	270	287	315	364
Interest expense (income), operating	0.3	−0.9	0.2	−3.1	−0.6	0.8
Unusual expense (income)	67.1	63.3	28.0	−41.9	71.2	55.2
Other operating expenses	−12.1	−6.7	−7.8	−11.5	−10.6	−4.3
Operating income	949	1,019	1,005	1,065	1,030	932
Net interest income (expense)	−10.3	6.0	0.6	−3.6	−12.8	−18.7
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−0.3	−0.4	−0.2	0.5	−0.3	−0.7
Net income before taxes	938	1,025	1,005	1,062	1,017	912
Provision for taxes	235	276	264	291	296	289
Minority interest	−137	−154	−154	−143	−125	−117
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	566	595	587	628	597	506
Extraordinary items	–	–	–	–	–	–
Net income	566	595	587	628	597	506
EBIT, normalized	1,016	1,081	1,033	1,020	1,101	988
EBITDA, normalized	1,550	1,571	1,551	1,560	1,704	1,672
Basic EPS, normalized	0.99	–	1.01	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Suntory Beverage & Food Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	966	1,050	1,229	1,554	1,546	1,629
Receivables	2,677	2,258	2,294	2,161	2,181	2,003
Total inventory	878	753	822	809	763	768
Prepaid expenses	83.3	78.0	79.7	79.9	101	115
Other current assets	37.4	62.8	104	21.2	17.0	10.7
Total current assets	4,642	4,202	4,529	4,625	4,608	4,525
Property, plant & equipment	3,739	3,457	3,321	3,282	3,690	3,982
Goodwill	1,914	1,815	1,972	2,018	2,221	2,426
Intangibles	3,610	3,378	3,512	3,451	3,737	3,925
Long-term investments	96.7	94.0	103	123	129	149
Note receivable	–	–	–	–	–	–
Other long-term assets	158	147	119	103	187	241
Total assets	14,159	13,093	13,557	13,602	14,572	15,248
Liabilities
Accounts payable	1,240	1,156	1,290	1,216	1,215	1,156
Payable/accrued	1,720	1,527	1,514	1,470	1,610	1,592
Accrued expenses	254	245	250	245	257	240
Short-term debt	95.2	10.1	64.0	99.2	113	414
Current portion of long-term debt	0.3	160	286	343	372	394
Other current liabilities	356	365	393	471	462	530
Total current liabilities	3,666	3,462	3,798	3,845	4,028	4,325
Long-term debt	3.2	3.5	177	494	952	1,165
Minority interest	697	672	692	724	724	754
Other liabilities	1,392	1,260	1,181	1,177	1,389	1,432
Total liabilities	5,758	5,398	5,849	6,240	7,094	7,676
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1,075	1,071	1,194	1,284	1,463	1,631
Additional paid-in capital	1,184	1,179	1,292	1,390	1,585	1,767
Retained earnings (accumulated deficit)	4,899	4,561	4,627	4,536	4,666	4,770
Treasury stock	0	0	0	0	0	0
Other equity	1,243	884	596	151	−236	−596
Total equity	8,401	7,696	7,709	7,362	7,478	7,572
Total liabilities & shareholders' equity	14,159	13,093	13,557	13,602	14,572	15,248

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Suntory Beverage & Food Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	938	1,025	1,005	1,062	1,017	912
Depreciation, depletion & amortization	534	490	518	540	603	684
Deferred taxes	–	–	–	–	–	–
Non-cash items	7.4	29.1	−5.3	−101	26.5	32.5
Changes in working capital	−463	−303	−405	−353	−272	−331
Cash from operations	1,017	1,241	1,113	1,148	1,375	1,298
Investing activities
Capital expenditures	−600	−689	−562	−459	−488	−605
Other investing cash flows	33.2	44.6	10.2	136	−6.5	12.3
Cash from investing	−567	−644	−552	−323	−494	−593
Financing activities
Financing cash flow items	−119	−139	−178	−130	−123	−113
Cash dividends paid	−247	−187	−177	−184	−209	−233
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−171	−387	−463	−389	−502	−106
Cash from financing	−536	−713	−818	−703	−835	−453
Foreign exchange effects	10.8	44.8	52.0	61.5	34.5	−20.6
Net change in cash	−75.5	−71.7	−205	183	79.7	232
Free cash flow	417	552	551	689	887	693

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.