TYO:9983 · TYO · Retail
Fast Retailing Co., Ltd. is a Japanese global apparel company best known as the parent of Uniqlo, one of the world’s largest clothing brands.
Current price
¥75,840.00
▲ +¥2,050.00 (2.78%) today
ET&A View
Last reviewed 15 September 2026
ET&A sees significant upside from the current price with an attractive risk/reward profile.
Fast Retailing is one of the highest-quality global apparel retailers, supported by UNIQLO's strong brand, disciplined product strategy and an increasingly successful international expansion model.
Business Health
Is the business financially healthy?
Yes — healthy
Revenue, earnings, cash generation and the balance sheet stand out.
Overall
Revenue
¥3.96tn · ↑ +10% last year
Earnings
¥542.5bn · ↑ +16% last year
Margins
Keeps 14% of sales as operating profit
Cash generation
¥401.8bn spare cash a year · 10% of sales
Balance sheet
More cash than debt
Dividend
1.2% yield · Pays out 34% of earnings · covered 2.9×
Investor View
Open a section for the detail behind the quick view.
Fast Retailing is one of the highest-quality global apparel retailers, supported by UNIQLO's strong brand, disciplined product strategy and an increasingly successful international expansion model. Growth is now being…
The complete ET&A view
See our full reasoning, what could drive the shares higher or go wrong, our Fair Value and Preferred Entry, and how our view has changed.
Reported annual results, newest first · Market data. “Growth” is the change in sales on the year before.
| Year | Revenue | Growth | Operating margin | Net income | EPS | Free cash flow |
|---|---|---|---|---|---|---|
| FY2025 | ¥3.40tn | +9.6% | 16.5% | ¥433.0bn | ¥1409.32 | ¥401.8bn |
| FY2024 | ¥3.10tn | +12.2% | 16.1% | ¥372.0bn | ¥1210.81 | ¥545.5bn |
| FY2023 | ¥2.77tn | +20.2% | 13.7% | ¥296.2bn | ¥964.48 | ¥366.1bn |
| FY2022 | ¥2.30tn | — | 12.9% | ¥273.3bn | ¥890.43 | ¥350.4bn |
Long-term growth investors
Also suits: Investors who want a mix of growth and stability
ET&A sees significant upside from the current price with an attractive risk/reward profile.
ET&A sees significant upside from the current price with an attractive risk/reward profile.
Compare Fast Retailing Co. with any company → The model’s own peer calculations are in the Research View.
Fast Retailing Co., Ltd. is a Japanese global apparel company best known as the parent of Uniqlo, one of the world’s largest clothing brands. The group designs, sources, and sells casualwear, functional clothing, and everyday essentials through a large international store network and growing e-commerce operations. Alongside Uniqlo, Fast Retailing also owns brands including GU, Theory, PLST, and Comptoir des Cotonniers, giving the company exposure to different segments of the global apparel market across Japan, Greater China, Southeast Asia, North America, and Europe.
Fast Retailing’s strength comes from Uniqlo’s distinctive focus on high-quality, functional basics rather than rapidly changing fashion trends. Products such as HEATTECH, AIRism, and lightweight down have helped the company build a strong reputation for combining technology, practicality, and relatively accessible pricing. The company sits at the centre of several long-term consumer themes, including the globalisation of Asian brands, demand for durable and versatile clothing, supply-chain efficiency, and the continued shift towards digitally integrated retail. With substantial international expansion potential, strong brand recognition, disciplined product development, and a scalable operating model, Fast Retailing remains one of the most important global apparel companies outside the traditional Western fashion groups.
Retail · Japan
For detailed analysis. Each section opens on its own.
As of 14 October 2026
Standard ways of comparing the share price with the company’s earnings, sales and cash. Tap the “i” for what each one means.
| Measure | Today | Source |
|---|---|---|
| P/E | Members | |
| Forward P/E | Members | |
| EV/EBITDA | Members | |
| Price/Sales | Members | |
| FCF Yield | Members |
Valuation ratios are part of ET&A membership.
Other published measures
Use the 5Y and Max ranges on the price chart at the top of the page.
Forecasts are market consensus or calculated from forward EPS — not ET&A estimates, and they can be wrong.
Powered by the ET&A Valuation FrameworkHow Fair Value & Preferred Entry work →
Read the full ET&A methodology →The ET&A View combines our assessment of the business with where today’s price sits against our Preferred Entry and Fair Value. It is a considered judgement, not a mechanical score.
ET&A Score: ET&A's overall assessment of business quality, valuation, growth and risk, out of 10. It weighs business quality, financial strength, growth, valuation, risk, future prospects.
Powered by the ET&A Company Assessment FrameworkSee the full framework →
The automatic, rules-based scores that feed our research. The ET&A Score blends these with our own analysis of the business and its value. How the framework works →
Profitable · Strong balance sheet · Strong
Context — not part of the score
Valuation and share-price swings describe the shares, not the company, so they are judged in the ET&A Score and View instead.
Based on the factors that could be measured (45% of the model).
Each area is scored from 0 to 10 on ET&A’s methodology scales — the same ones our research uses — then given a word: Excellent from 8.5, Strong from 7, Good from 5.5, Average from 4.5, Below Average from 3, Weak below 3. The overall answer is the average of the areas we could rate (at least three); the dividend isn’t part of it.
| Area | Based on | Score | Rating |
|---|---|---|---|
| Revenue |
Rated on 3-year average revenue growth, on ET&A's growth scale. | 7.8 / 10 | Strong |
| Earnings |
Rated on 3-year average earnings growth, on ET&A's growth scale. | 8.3 / 10 | Strong |
| Margins |
The average of operating and net margin, each scored on ET&A's margin scales. A negative margin scores 1 (Weak). | 6.3 / 10 | Good |
| Cash generation |
Free cash flow as a share of sales, on ET&A's cash-generation scale. | 7.5 / 10 | Strong |
| Balance sheet |
Net debt ÷ EBITDA — roughly how many years of operating earnings would repay the debt — on ET&A's leverage scale. | 10.0 / 10 | Excellent |
| Dividend |
Dividend yield on ET&A's income scale. Not part of the overall health rating. | 3.4 / 10 | Below Average |
| Overall | Average of the 5 rated areas | 8.0 / 10 | Strong |
Where each band starts on the scales above. They are fixed and identical for every company we cover; they come straight from ET&A’s methodology, so a company is judged the same way here as in our research.
| Measure | Excellent | Strong | Good | Average | Below Average | Weak |
|---|---|---|---|---|---|---|
| GrowthStructural Growth (Fundamental Conviction) | 18%+ | 10%+ | 5.0%+ | 1.7%+ | −2.5%+ | below −2.5% |
| Operating marginCompetitive Position (Fundamental Conviction) | 29%+ | 20%+ | 13%+ | 7.5%+ | 0%+ | below 0% (loss) |
| Net marginEarnings Durability (Fundamental Conviction) | 23%+ | 15%+ | 9.8%+ | 6.0%+ | 0%+ | below 0% (loss) |
| Free-cash-flow marginCapital Allocation (Fundamental Conviction) | 15%+ | 8.5%+ | 3.8%+ | 1.3%+ | −2.5%+ | below −2.5% |
| Net debt ÷ EBITDAStructural Risk (Fundamental Conviction) | net cash | ≤ 1.5× | ≤ 2.8× | ≤ 3.6× | ≤ 5.0× | above 5.0× |
| Return on equity (banks & insurers)Bank and insurer quality | 16%+ | 12%+ | 9.0%+ | 6.7%+ | 2.7%+ | below 2.7% |
| Equity ÷ assetsBank capital | 7.5%+ | 6.0%+ | 4.7%+ | 4.0%+ | any | — |
| Dividend yieldIncome factor (ET&A Quant Score) | 5.8%+ | 4.0%+ | 2.5%+ | 1.8%+ | 1.0%+ | below 1.0% |
Band floors: Excellent 8.5 · Strong 7 · Good 5.5 · Average 4.5 · Below Average 3 (scores out of 10). Utilities and property companies’ structural debt is scored 6.5, as in ET&A’s risk model.
No research notes have been published for Fast Retailing Co. yet.
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