Mitsubishi Corporation
TYO:8085 · TYO · Conglomerate
Mitsubishi Corporation is one of Japan’s largest integrated trading and investment companies, with operations spanning energy, power, materials, mineral resources, infrastructure, mobility, food, consumer services, and…
Current price
¥4,450.00
▲ +¥15.00 (0.34%) today
Share price
Live market dataET&A View
Last reviewed 15 September 2026
ET&A sees significant upside from the current price with an attractive risk/reward profile.
Mitsubishi Corporation is one of Japan's highest-quality diversified trading houses, combining exposure to energy, metals, infrastructure, mobility, food and consumer businesses with a strong balance sheet and disciplined…
Why we like it
- Holds more cash than debt.
- Sales are growing steadily (+7% a year).
- Pays a dividend yield of 3.2%, covered 4.2× by earnings.
What worries us
- Thin profit margins — only about 2% of sales kept as profit.
Business Health
Is the business financially healthy?
Mostly healthy
The balance sheet stands out. Watch margins.
Overall
- Growth Good
Revenue
¥123.5bn · ↑ +7% last year
- Growth Average
Earnings
¥2.8bn · ↑ +0% last year
- Below Average
Margins
Keeps 2% of sales as operating profit
- Average
Cash generation
¥1.8bn spare cash a year · 1% of sales
- Excellent
Balance sheet
More cash than debt
- Yield Good
Dividend
3.2% yield · Pays out 24% of earnings · covered 4.2×
Investor View
More on Mitsubishi Corporation
Open a section for the detail behind the quick view.
Our full viewET&A's complete thesis — why we hold the view we do.Members
Mitsubishi Corporation is one of Japan's highest-quality diversified trading houses, combining exposure to energy, metals, infrastructure, mobility, food and consumer businesses with a strong balance sheet and…
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.
- Our View in full
- What could drive it higher / go wrong
- Fair Value & Preferred Entry
- How our view has changed
What could drive it higher — and what could go wrongThe catalysts and risks we are watching.Members
Valuation discussionWhere today's price sits, and how it compares with the company's own history and its peers.Members
Financial and earnings trendsSales, margins, profit, earnings per share and cash, year by year.
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 |
|---|---|---|---|---|---|---|
| FY2026 | ¥120.3bn | +6.9% | 2.6% | ¥2.2bn | ¥440.48 | ¥1.8bn |
| FY2025 | ¥112.5bn | +4.7% | 2.7% | ¥2.2bn | ¥443.05 | −¥1.6bn |
| FY2024 | ¥107.5bn | +7.5% | 2.8% | ¥2.3bn | ¥458.00 | ¥2.8bn |
| FY2023 | ¥99.9bn | — | 2.8% | ¥2.1bn | ¥429.25 | ¥2.0bn |
Who it suitsStrategy suitability and investment style.
Long-term investors who want growth and income
Also suits: Investors who want a mix of growth and stability
How it compares with peersOther companies we cover in Conglomerate.
- Itochu CorporationTYO:8001
ET&A likes the company but would prefer investors to build exposure gradually.
- Honeywell Technologies IncHON
ET&A likes the company but would prefer investors to build exposure gradually.
- Mitsui & Co LtdTYO:8031
Compare Mitsubishi Corporation with any company → The model’s own peer calculations are in the Research View.
What the company doesThe full company profile.
Mitsubishi Corporation is one of Japan’s largest integrated trading and investment companies, with operations spanning energy, power, materials, mineral resources, infrastructure, mobility, food, consumer services, and digital businesses. The company uses its global network to invest in, develop, trade, and operate businesses across multiple industries, making it a major link between Japan, global commodity markets, industrial supply chains, and international growth sectors.
Mitsubishi Corporation’s strength comes from its diversified portfolio, long-standing relationships, global reach, and ability to combine trading expertise with business ownership and investment. Its activities give it exposure to energy security, metals, LNG, infrastructure, automotive value chains, food supply, urban development, and power solutions. This makes Mitsubishi Corporation an important Japanese conglomerate with relevance across both traditional industrial markets and long-term themes such as energy transition, resource security, and global infrastructure development.
Conglomerate · Japan
Research ViewOpen the full researchThe full researchFull financial statements, valuation multiples, historical data, forecasts, methodology, scoring calculations and the valuation model.OpenClose
For detailed analysis. Each section opens on its own.
Financial statementsEvery published figure with its source, the market snapshot and connected sheets.
Income
- Revenue
- ¥123.5bnMarket data
- Gross profit
- ¥13.4bnMarket data
- EBITDA
- ¥4.7bnMarket data
- Operating profit (EBIT)
- ¥3.1bnMarket data
- Net income
- ¥2.8bnMarket data
- Earnings per share (EPS)
- ¥548.55Market data
Growth
- Revenue growth, latest year
- Good6.9%Calculated
- Revenue growth, 3-year average
- Good6.4%Calculated
- Earnings growth, latest year
- Below Average0.0%Calculated
- Earnings growth, 3-year average
- Average1.6%Calculated
- Revenue growth, latest quarter vs a year earlier
- 13.3%Market data
- Earnings growth, latest quarter vs a year earlier
- 2881.0%Market data
Margins & returns
- Gross margin
- Below Average10.8%Market data
- EBITDA margin
- 3.8%Market data
- Operating margin
- Below Average2.4%Market data
- Net margin
- Below Average2.3%Market data
- Return on equity (ROE)
- Good10.0%Market data
- Return on assets (ROA)
- 4.1%Market data
Cash flow
- Free cash flow
- ¥1.8bnMarket data
- Free-cash-flow margin
- Average1.4%Calculated
- Free cash flow ÷ net income
- 0.6×Calculated
Balance sheet
- Cash
- ¥11.8bnMarket data
- Total debt
- ¥2.1bnMarket data
- Net cash (more cash than debt)
- ¥9.7bnMarket data
- Net debt ÷ EBITDA
- Excellent−2.0×Calculated
- Debt ÷ equity
- 0.1×Market data
- Current ratio
- 1.6×Market data
Shares & dividends
- Shares outstanding
- 5.0mMarket data
- Market capitalisation
- ¥22.3bnMarket data
- Dividend per share
- ¥130.00Market data
- Dividend yield
- Good3.2%Market data
- Payout ratio
- 23.8%Market data
- Market data — the live feed (Yahoo Finance)
- Calculated — worked out by ET&A from the figures shown, using the formulas in our methodology
Other published figures
- Price / Sales
- Members
- EV / EBITDA
- Members
- Price / Book
- Members
Market data
LiveAs of 14 October 2026
- P/E Ratio
- 8.11x
Valuation multiplesP/E, forward P/E, EV/EBITDA, Price/Sales and FCF yield — today and at Fair Value.Members
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
- Price / Book
- Members
Historical dataValuation history, how our view has changed, and the share-price history.
Share-price history
Use the 5Y and Max ranges on the price chart at the top of the page.
ForecastsWhat analysts expect — market consensus, not ET&A estimates.
No forecasts are available for this company.
MethodologyHow ET&A values a company and reaches a view.
How we value Mitsubishi Corporation
- 1. The right method for the business. Each business is valued on the method that suits its economics — earnings for most companies, book value and returns for banks and insurers, cash flows or dividends where earnings mislead.
- 2. What the business deserves. ET&A builds a fair multiple from the company's own quality, sustainable growth, earnings predictability and risk. History, peers and the market are checked against it, but they don't set it.
- 3. Fair Value. The earnings (or other basis) per share multiplied by that fair multiple, cross-checked against independent methods.
- 4. Preferred Entry. A price below Fair Value that leaves room for the return ET&A requires for the company's risk.
- 5. Is it expensive? Today’s price is placed on ET&A’s Valuation Attractiveness scale — the same measure the ET&A Score uses. Cheap is the Preferred Entry; above Fair Value the shares are Expensive, and Very Expensive once they are more than 25% above it.
Powered by the ET&A Valuation FrameworkHow Fair Value & Preferred Entry work →
Read the full ET&A methodology →How we reach a view
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.
- Business quality
- Financial performance
- Growth outlook
- Debt and financial strength
- Valuation
- Risk
- What could drive it higher
- Buy
- ET&A sees significant upside from the current price with an attractive risk/reward profile.
- Accumulate
- ET&A likes the company but would prefer investors to build exposure gradually.
- Hold
- ET&A sees limited reason to buy aggressively or sell at the current price.
- Reduce
- ET&A believes the current valuation or risk profile makes a smaller position more appropriate.
- Sell
- ET&A believes the downside risk materially outweighs the potential return at the current price.
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 →
Scoring calculationsBehind the ET&A Score and the Business Health ratings.
Behind the ET&A Score
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 →
ET&A Quant Score
Unprofitable · Strong balance sheet · Strong
Context — not part of the score
- Valuation multiplesInexpensive
- Share-price steadinessHigh volatility
- IncomeModerate yield
Valuation and share-price swings describe the shares, not the company, so they are judged in the ET&A Score and View instead.
- Annualised volatility
- Members
- Max drawdown (1y)
- Members
- 12-month return
- Members
- 3-month return
- Members
- P/E
- Members
- Price / Sales
- Members
- EV / EBITDA
- Members
- EBITDA margin
- Members
- Net debt / EBITDA
- Members
- Dividend yield
- Members
Based on the factors that could be measured (45% of the model).
Business Health ratings
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. | 5.9 / 10 | Good |
| Earnings |
Rated on 3-year average earnings growth, on ET&A's growth scale. | 4.5 / 10 | Average |
| Margins |
The average of operating and net margin, each scored on ET&A's margin scales. A negative margin scores 1 (Weak). | 3.6 / 10 | Below Average |
| Cash generation |
Free cash flow as a share of sales, on ET&A's cash-generation scale. | 4.6 / 10 | Average |
| 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. | 6.2 / 10 | Good |
| Overall | Average of the 5 rated areas | 5.7 / 10 | Good |
ET&A's scales
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.
Valuation model outputsFair Value, the 12-Month Price Target, Preferred Entry and the expected return — and how each was calculated.Members
Peer calculationsThe comparable companies the valuation model used, with their multiples and returns.Members
Detailed assumptionsEvery input the valuation model used, with its source.Members
Research notesNo research notes published yet.
No research notes have been published for Mitsubishi Corporation yet.
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