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Kirin Holdings Company, Limited

KNBWY
56
Beverages - Alcoholic · Consumer Defensive
Price
$18.73
-0.21 (-1.11%)
Market Cap
$14.95B
Exchange
Other OTC
Winston Score
56
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Sep 5, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
Growth
Good
Cash Flow
Strong
Stability
Strong
Valuation
Good
Dividends
Mixed

Share count falling — buybacks

2.8% over 4y

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

Diluted shares outstanding: 833.6M (2021) → 810.1M (2025)

§Winston Score History

The full picture

Kirin Holdings Company, Limited, a diversified global conglomerate, was established in 1885 and maintains its headquarters in Tokyo, Japan. This entity operates across Japan and internationally, manufacturing and marketing a broad array of products. Its core activities are structured around four key divisions: Japan Beer and Spirits, Japan Non-Alcoholic Beverages, Oceania Integrated Beverages, and Pharmaceuticals. Kirin's extensive product portfolio encompasses alcoholic beverages such as beer (including happo-shu), wine, whiskey, and spirits, alongside soft drinks, dairy items, and fruit juices. Beyond beverages, the company is a developer and purveyor of pharmaceutical and biochemical goods. Its operations extend to managing various factories and theme parks, overseeing a chain of Kirin City beer pubs, and manufacturing specialized amino acids and nucleic acids for both pharmaceutical and industrial applications, including bulk pharmaceuticals. Additionally, Kirin crafts items such as margarine, jams, and honey. The company is also involved in the production and distribution of Coca-Cola products, other soft drinks, sake, and various food items. Furthermore, it manufactures and supplies Four Roses bourbon and functions as an insurance agency. Kirin Holdings underwent a name change in July 2007, having previously been recognized as Kirin Brewery Company, Limited.

Growth Profile

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

Revenue Growth

+10.6% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+166.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

¥123.8B/ year

Rising (+16059% vs prior year)

4.9% of revenue

2.4x the sector average (2%)

R&D investment increasing — building for the future

Cash Position

Cash flow positive

¥499.2B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth + cash flow

Kirin Holdings Company, Limited is a rare growth stock that's already generating positive cash flow while growing at 11%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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
49.0%
Healthy — 49.0% gross margin
Profit after running costs
Operating Margin
12.1%
Healthy — 12.1% operating margin
Return on the money invested
ROCE
13.2%
Good — 13.2% 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
+7.5%
Steady sales growth (+7.5% YoY)
Profit growth
EPS YoY
+271.2%
Earnings growing fast (+271.2% YoY)

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

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
188%
Turns 188% of profit into real cash
Spare cash per sale
FCF Margin
7.9%
Modest free cash flow (7.9%)

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
0.62
Moderate — manageable debt (0.62)
Covers its interest
Interest Cover
14.02x
Comfortably covers interest (14.0x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
12.0x
Attractive valuation — P/E 12.0

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
-0.3
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
2.56%
Moderate income — 2.56% yield

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

Dividend record
Dividend Growth
+0.6%
Dividend flat

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