ITOCHU Corporation

ITOCY

Conglomerates · Industrials

Price

$13.05

+0.34 (+2.68%)

Market Cap

$92.40B

Exchange

Other OTC

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Strong

Cash Flow

Good

Stability

Good

Valuation

Strong

Dividends

Mixed

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Share count falling — buybacks

−52.6% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 14.84B (2022) → 7.03B (2026)

Winston Score History

The full picture

ITOCHU Corporation is one of Japan's largest trading companies, known as a "sogo shosha." It buys and sells goods across many industries — including food, clothing, machinery, energy, and chemicals — connecting suppliers and buyers around the world. ITOCHU is especially strong in consumer goods and food, and it owns a major stake in FamilyMart, one of Japan's biggest convenience store chains.

ITOCHU makes money by taking a cut on trades, earning dividends from companies it invests in, and collecting profits from businesses it partly or fully owns. It operates globally, with significant activity across Asia, the Americas, and Europe, generating roughly $60–70 billion in annual revenue. Its wide network of business relationships and diversified holdings across dozens of industries give it resilience, but its heavy exposure to commodity prices and global trade flows means economic slowdowns or supply chain disruptions can quickly hurt profits. Growth depends largely on expanding its consumer and Asian market businesses.

Growth Profile

For growth stock investors

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

Revenue Growth

+6.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+100.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

¥0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

2.5%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

¥7.1T cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth context

ITOCHU 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

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

16.9%

Thin — 16.9% gross margin

Profit after running costs

Operating Margin

5.3%

Thin — 5.3% operating margin

Return on the money invested

ROCE

6.7%

Weak — 6.7% 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

+4.8%

Slow sales growth (+4.8% YoY)

Profit growth

EPS YoY

+73.3%

Earnings growing fast (+73.3% 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

109%

Turns 109% of profit into real cash

Spare cash per sale

FCF Margin

4.8%

Thin free cash flow (4.8%)

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

0.65

Moderate — manageable debt (0.65)

Covers its interest

Interest Cover

6.83x

Adequate interest coverage (6.8x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

16.0x

Fair value — P/E 16.0

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

+3.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (16.0 → 13.0)

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Dividends

Dividend

Dividend Yield

2.15%

Moderate income — 2.15% yield

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

Dividend record

Dividend Growth

-38.8%

Dividend cut (-38.8% YoY) — warning sign

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