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FUJIFILM Holdings Corporation

FUJIY
54
Medical - Devices · Healthcare
Exchange
Other OTC
Winston Score
54
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 9, 2026 · filings through Mar 31, 2026

FUJIFILM Holdings is a Japanese company that started out making camera film but has transformed itself into a much broader business. Today it makes medical imaging equipment (like X-ray and endoscopy systems), pharmaceuticals, office printers and copiers, and specialty chemicals. Its main customers include hospitals, clinics, businesses, and industrial manufacturers around the world.

The company earns money by selling hardware, consumable supplies, and services across these different divisions. It operates globally, with strong presences in Japan, the United States, and Europe, and generates roughly $20 billion in annual revenue. FUJIFILM's biggest competitive advantage is its deep expertise in chemical and optical technology, which it has reused across industries — the same know-how that made camera film also helps it make drug ingredients and display materials. The key growth driver is its healthcare segment, particularly biopharmaceutical contract manufacturing, but the company faces risk if hospital spending slows or competition in medical imaging intensifies.

Winston Score History

Growth Profile

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

Revenue Growth

+8.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+6.8% YoY

YoY Growth Rate

Slow EPS growth

Insider Activity

3.9%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$378.0B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth context

FUJIFILM Holdings Corporation is growing revenue at 9% 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

Gross Margin
40.6%
Healthy — 40.6% gross margin
Operating Margin
11.0%
Modest — 11.0% operating margin
ROCE
2.2%
Weak — 2.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
+6.5%
Slow sales growth (+6.5% YoY)
EPS YoY
+7.5%
Modest earnings growth (+7.5% YoY)

Single-digit earnings growth — steady but not exciting.

EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion
148%
Turns 148% of profit into real cash
FCF Margin
-3.2%
Burning cash (-3.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
0.24
Conservative — low debt load (0.24)
Interest Cover
136.45x
Comfortably covers interest (136.4x)

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

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Valuation

P/E Ratio (TTM)
0.1x
no trend
Attractive valuation — P/E 0.1

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward
+0.0
GROWING
Earnings roughly flat

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Dividends

Dividend Yield
1.86%
no trend
Small dividend — 1.86% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth
-78.1%
no trend
Dividend cut (-78.1% YoY) — warning sign

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