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Asahi Kasei Corporation

AHKSY
57
Chemicals - Specialty · Basic Materials
Exchange
Other OTC
Winston Score
57
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Strong
Cash Flow
Strong
Stability
Exceptional
Valuation
Good
Dividends
Mixed

Winston Score History

The full picture

Asahi Kasei is a large Japanese company that makes a wide range of products across three main areas: chemicals and materials, homes, and healthcare. On the materials side, it produces specialty chemicals, fibers, and electronic components used by manufacturers in industries like automotive, electronics, and construction. On the healthcare side, it makes medical devices, pharmaceuticals, and dialysis equipment sold to hospitals and clinics around the world.

The company earns revenue by selling physical products across all three segments, with no single business dominating the whole. Asahi Kasei operates primarily in Japan but has a meaningful international presence, particularly in North America and Asia, and generates roughly $20 billion in annual sales. Its diversified structure provides some stability, but the chemicals and materials segment is exposed to raw material cost swings and competition from lower-cost Asian producers. A key growth driver is demand for lithium-ion battery separator films, where Asahi Kasei holds a strong global position through its Hipore brand.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+7.0% YoY

YoY Growth Rate

Slow EPS growth

Insider Activity

2.8%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$529.2B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Asahi Kasei Corporation is growing revenue at 6% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Profit per sale
Gross Margin
35.1%
Modest — 35.1% gross margin
Profit after running costs
Operating Margin
9.8%
Modest — 9.8% operating margin
Return on the money invested
ROCE
8.2%
Below par — 8.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+5.8%
Slow sales growth (+5.8% YoY)
Profit growth
EPS YoY
+64.8%
Earnings growing fast (+64.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
157%
Turns 157% of profit into real cash
Spare cash per sale
FCF Margin
2.8%
Thin free cash flow (2.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.53
Conservative — low debt load (0.53)
Covers its interest
Interest Cover
19.20x
Comfortably covers interest (19.2x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
11.5x
no trend
Attractive valuation — P/E 11.5

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+0.6
GROWING
Earnings roughly flat

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Dividends

Dividend
Dividend Yield
2.48%
no trend
Moderate income — 2.48% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
-16.3%
no trend
Dividend cut (-16.3% YoY) — warning sign

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