Japan Tobacco Inc.

JAPAFOTCConsumer Defensive● Active

$40.15

+$1.36(+3.51%)

Market Cap$71.3B

P/E Ratio—

52W High$42.26

52W Low$26.96

Avg Volume2K

Open$40.15

Beta0.14

Free Cash Flow Financials Revenue

Japan Tobacco Inc. (JAPAF) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

JAPAF · free cash flow · updated Jun 9, 2026

Core FCF metrics

JAPAF · FCF · TTM · margin & CAGR

Free cash flow was $371.18B for FY2025 (fiscal year ending 2025-12-31), down 22.6% year-over-year The FCF margin was 10.7%. Five-year CAGR stands at -2.0%.

FY2025 Free Cash Flow$371.18B▼ -22.6% YoY

Trailing 12M (TTM)$421.92Btrailing 4 quarters sum

FCF Margin10.7%$371.18B ÷ revenue

3-Year CAGR-1.2%FY2022 → FY2025

5-Year CAGR-2.0%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

JAPAF · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$514.50B(143.33B)$371.18B▼ 22.6%10.7%

FY2024$630.01B(150.37B)$479.64B▲ +1.6%15.2%

FY2023$567.01B(94.86B)$472.15B▲ +22.8%16.6%

FY2022$483.80B(99.41B)$384.39B▼ 22.5%14.5%

FY2021$598.91B(102.92B)$495.99B▲ +20.6%21.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

JAPAF · P/FCF · FCF yield · FCF per share

Japan Tobacco Inc. (JAPAF) trades at a FCF yield of 3.90% and a price-to-free-cash-flow ratio of 0.2x. FCF per share stands at $237.65, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

3.90%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$237.65

TTM FCF ÷ Shares Outstanding

Price / FCF

x0.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x28.2

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

JAPAF · cash flow statement · operating / investing / financing

For FY2025, Japan Tobacco Inc. generated $514.50B in operating cash flow and spent 143.33B in capital expenditures, yielding $371.18B in free cash flow.

Operating Activities

+$514.50B

Cash from core business operations

2025-12-31

Investing Activities

−$265.23B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$475.87B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($514.50B) − |CapEx| (143.33B) = FCF ($371.18B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Defensive)

JAPAF vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Japan Tobacco Inc.YOU

JAPAF

$371.18B-22.6%10.7%

100%

Walmart Inc.

WMT

$14.92B+17.9%2.1%

The Procter & Gamble Company

$14.04B-15.0%16.7%

Philip Morris International Inc.

$10.66B-1.0%26.2%

Costco Wholesale Corporation

COST

$7.84B+18.2%2.8%

The Coca-Cola Company

$5.30B+11.7%11.0%

Consumer Defensive · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Japan Tobacco Inc. (JAPAF) reported free cash flow of $371.18B for FY2025 (fiscal year ending 2025-12-31), down 22.6% year-over-year. The FCF margin was 10.7%.

Based on available data, Japan Tobacco Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $495.99B in FY2021. The 5-year CAGR stands at -2.0%.

Japan Tobacco Inc.'s FCF yield is 3.90% and price-to-FCF ratio is 0.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

JAPAF free cash flow · 8 questions

Japan Tobacco Inc. free cash flow was $371.18B for FY2025, down 22.6% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $421.92B.

JAPAF free cash flowJAPAF FCFJAPAF FCF 2025JAPAF free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Japan Tobacco Inc. · Japan Tobacco Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026