The company has reduced its share count over this period, returning value to shareholders through buybacks.
Diluted shares outstanding: 1.05B (2021) → 904.1M (2025)
Canon Inc. is a global technological leader, headquartered in Tokyo, Japan, which was established in 1933. The company specializes in the development, production, and worldwide distribution of a comprehensive array of advanced equipment. Its diverse product portfolio spans office multifunction devices, various types of printers (laser, inkjet), an extensive range of cameras, sophisticated medical diagnostic systems, and high-precision industrial lithography equipment. Canon's operations are organized into several distinct business units. The Printing Business Unit provides a wide selection of solutions, including office MFDs, document management software, laser multifunction printers, image scanners, calculators, and a variety of digital presses for continuous feed, sheet-fed, and large format printing. The Imaging Business Unit focuses on visual technology, offering interchangeable-lens and compact digital cameras, lenses, portable photo printers, network surveillance cameras, video management and analytics software, digital camcorders, cinematic cameras, broadcast equipment, and projectors. Within the healthcare sector, the Medical System Business Unit furnishes advanced diagnostic tools such as computed tomography (CT) systems, diagnostic ultrasound systems, X-ray machines, magnetic resonance imaging (MRI) systems, clinical chemistry analyzers, digital radiography systems, and ophthalmic equipment. Meanwhile, the Industrial and Others Business segment manufactures high-tech industrial machinery, including semiconductor and flat panel display lithography equipment, vacuum thin-film deposition systems, organic light-emitting diode (OLED) display manufacturing equipment, handy terminals, document scanners, and die bonders. In addition to product sales, Canon Inc. offers comprehensive maintenance services. The company distributes its products globally under the renowned Canon brand, primarily reaching retail dealers through its network of subsidiaries.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
+4.9% YoY
YoY Growth Rate
Slow revenue growth
+56.2% YoY
YoY Growth Rate
EPS growth accelerating
¥355.7B/ year
↑ Rising (+5% vs prior year)
7.3% of revenue
Below sector average (15%)
R&D investment increasing — building for the future
Cash flow positive
¥1.3T cash & investments
Quarterly Free Cash Flow
↓ Burn rate worsening
Company generates more cash than it spends — no dilution risk from fundraising
Canon is growing revenue at 5% 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.
Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.
ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.
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Earnings growing 25%+ a year. The compounder zone.
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FCF margin between 0% and 10%. Some cash from sales, but not a lot.
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Interest coverage above 8. Profits cover interest many times over.
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P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.
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Standard yield zone for stable dividend payers. A meaningful piece of total return.
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