ZOZO Past Earnings Performance
Past criteria checks 3/6
ZOZO has been growing earnings at an average annual rate of 8.4%, while the Specialty Retail industry saw earnings growing at 9.1% annually. Revenues have been growing at an average rate of 8.3% per year. ZOZO's return on equity is 44.9%, and it has net margins of 21%.
Key information
8.40%
Earnings growth rate
8.91%
EPS growth rate
| Specialty Retail Industry Growth | 11.17% |
| Revenue growth rate | 8.34% |
| Return on equity | 44.88% |
| Net Margin | 20.99% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • May 05
3092: Higher Discount Rate Will Pressure Earnings Quality Before Loan Decision
Analysts have trimmed their fair value estimate for ZOZO to a new price target of ¥880 from ¥1,009.84, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E. What's in the News ZOZO has scheduled a board meeting for February 20, 2026, to consider and decide whether to execute a loan agreement that includes financial covenants (Key Developments).Analysis Article • May 02
The ZOZO, Inc. (TSE:3092) Yearly Results Are Out And Analysts Have Published New Forecasts
Shareholders might have noticed that ZOZO, Inc. ( TSE:3092 ) filed its yearly result this time last week. The early...
Narrative Update • Apr 20
3092: Higher Profitability And Loan Covenants Will Support Future Upside
Analysts have adjusted their price target on ZOZO slightly lower to ¥1,834 from ¥1,849, citing updated assumptions for revenue growth, profit margins and future P/E, while noting that the overall valuation remains largely intact. What's in the News ZOZO has scheduled a board meeting for February 20, 2026, to consider and decide on the execution of a loan agreement that includes financial covenants (Key Developments).
Narrative Update • Apr 06
3092: Loan Agreement Decision And Margin Stability Will Support Further Upside
Analysts have adjusted their price target on ZOZO to ¥1,359.82, keeping it unchanged overall while fine tuning assumptions such as a slightly different discount rate, a modestly revised revenue growth outlook, a small uplift in profit margin, and a minor tweak to the forward P/E multiple. What's in the News A board meeting is scheduled for February 20, 2026, to consider and decide on a loan agreement that includes financial covenants (Key Developments).Narrative Update • Mar 22
3092: Higher Profitability And New Loan Covenants Will Support Future Upside
Analysts have slightly reduced their price target on ZOZO to ¥1,848.64 from ¥1,857.27, citing updated assumptions around revenue growth, profit margins, the discount rate, and future P/E multiples. What's in the News A board meeting is scheduled for February 20, 2026, with an agenda to consider and decide on executing a loan agreement that includes financial covenants (Key Developments).Narrative Update • Mar 07
3092: Loan Agreement Plans And Margin Resilience Will Support Further Upside
Analysts have slightly reduced their fair value estimate for ZOZO from ¥1,365.71 to ¥1,359.82, reflecting modest adjustments to assumptions related to the discount rate, revenue growth, profit margins, and future P/E multiples. What's in the News ZOZO scheduled a board meeting for February 20, 2026 to consider and resolve on executing a loan agreement with financial covenants (Key Developments).Narrative Update • Feb 21
3092: Higher Margin Outlook And Dividend Stability Will Support Upside Potential
Analysts now see ZOZO's fair value shifting from ¥1,437.47 to ¥1,365.71 as they factor in adjusted revenue growth expectations, a slightly higher discount rate, modestly higher profit margin assumptions, and a lower future P/E multiple. Valuation Changes Fair Value: Adjusted from ¥1,437.47 to ¥1,365.71, representing a modest move lower in the modelled estimate.Narrative Update • Feb 07
3092: Higher Profitability And Lower Discount Rate Will Support Future Upside
Analysts have increased their fair value estimate for ZOZO to ¥1,857 from ¥1,852, reflecting updated views on revenue growth, profit margins, discount rate and future P/E assumptions. Valuation Changes Fair Value Estimate has been nudged up slightly from ¥1,852 to ¥1,857.Analysis Article • Feb 03
ZOZO, Inc. (TSE:3092) Just Released Its Third-Quarter Earnings: Here's What Analysts Think
ZOZO, Inc. ( TSE:3092 ) shareholders are probably feeling a little disappointed, since its shares fell 7.0% to JP¥1,138...Narrative Update • Jan 24
3092: Dividend Reset And Stable Assumptions Will Support Future Upside
Analysts have nudged their price target on ZOZO slightly higher to ¥1,852, citing modest tweaks to inputs such as a roughly 0.06 percentage point change in discount rate, a 0.08 percentage point adjustment to revenue growth, a marginal shift in profit margin, and a small revision to the assumed future P/E multiple. What's in the News ZOZO announced a second quarter dividend of ¥19 per share for the period ended September 30, 2025, compared with ¥53 per share a year earlier, with figures presented on a post stock split basis (Key Developments).Narrative Update • Jan 09
3092: Dividend Policy And Modest Assumption Shifts Will Support Future Upside
Analysts have made a small downward adjustment to their fair value estimate for ZOZO to ¥1,852.28 from ¥1,853.41, reflecting updated assumptions for discount rate, revenue growth, profit margin and future P/E. What's in the News ZOZO announced a second quarter dividend of ¥19 per share for the period ended September 30, 2025, compared with ¥53 per share a year earlier, with amounts presented on a post stock split basis (Key Developments).Analysis Article • Dec 29
Here's Why ZOZO (TSE:3092) Can Manage Its Debt Responsibly
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Narrative Update • Dec 15
3092: Dividend Outlook Will Support Stronger Long Term Earnings Prospects
Analysts have slightly reduced their price target on ZOZO to approximately ¥1,850 from about ¥1,990, citing a modestly higher discount rate and slightly lower margin expectations, while remaining constructive on revenue growth and longer term earnings power. What's in the News ZOZO announced a second quarter dividend of JPY 19 per share for the period ended September 30, 2025, adjusted for a three-for-one stock split completed on April 1, 2025 (company announcement) The new interim dividend compares with JPY 53 per share a year earlier, reflecting the impact of the stock split and updated capital return policy (company announcement) The dividend will be payable on November 25, 2025 to shareholders of record as of the specified date (company announcement) For the fiscal year ending March 31, 2026, ZOZO guided for a year-end dividend of JPY 20 per share, versus JPY 54 per share a year ago, on a post-split basis (company announcement) Valuation Changes The fair value estimate has fallen slightly to approximately ¥1,850 from about ¥1,990, reflecting more conservative assumptions.Narrative Update • Nov 29
3092: Dividend Stability And Stock Split Are Expected To Support Fair Value
Analysts have slightly reduced their price target for ZOZO from ¥1,441.88 to ¥1,437.47, citing modest adjustments in growth forecasts and profitability metrics. What's in the News ZOZO, Inc.Analysis Article • Nov 22
Calculating The Fair Value Of ZOZO, Inc. (TSE:3092)
Key Insights The projected fair value for ZOZO is JP¥1,226 based on 2 Stage Free Cash Flow to Equity ZOZO's JP¥1,321...Narrative Update • Nov 15
3092: Dividend Payouts And Stock Split Will Drive Shareholder Value
Analysts have slightly lowered their price target for ZOZO from ¥1,473 to ¥1,441. They cite modestly slower expected revenue growth and a marginally higher discount rate in their updated forecasts.Analysis Article • Nov 04
ZOZO, Inc. Just Missed EPS By 15%: Here's What Analysts Think Will Happen Next
It's shaping up to be a tough period for ZOZO, Inc. ( TSE:3092 ), which a week ago released some disappointing interim...Narrative Update • Nov 01
3092: Dividend Adjustments And Stock Split Will Shape Near-Term Performance
Analysts have slightly reduced their price target for ZOZO from ¥1,500 to ¥1,473.44, citing marginal adjustments to growth forecasts and profitability expectations. What's in the News ZOZO, Inc.Analysis Article • Sep 08
We Think ZOZO (TSE:3092) Can Manage Its Debt With Ease
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Aug 03
ZOZO, Inc. (TSE:3092) First-Quarter Results: Here's What Analysts Are Forecasting For This Year
Last week, you might have seen that ZOZO, Inc. ( TSE:3092 ) released its first-quarter result to the market. The early...Analysis Article • Jul 17
Does This Valuation Of ZOZO, Inc. (TSE:3092) Imply Investors Are Overpaying?
Key Insights Using the 2 Stage Free Cash Flow to Equity, ZOZO fair value estimate is JP¥1,215 ZOZO's JP¥1,528 share...
New Narrative • Nov 25
Revolutionising Retail With AI Innovation And Calculated Brand Expansion
Productivity improvements and personalized strategies may reduce costs and boost net margins significantly.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How ZOZO makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 228,373 | 47,926 | 136,044 | 0 |
| 31 Dec 25 | 223,860 | 46,379 | 135,963 | 0 |
| 30 Sep 25 | 219,579 | 45,222 | 134,651 | 0 |
| 30 Jun 25 | 216,772 | 45,613 | 131,594 | 0 |
| 31 Mar 25 | 213,131 | 45,346 | 128,814 | 0 |
| 31 Dec 24 | 210,524 | 47,814 | 125,908 | 0 |
| 30 Sep 24 | 205,600 | 45,157 | 125,479 | 0 |
| 30 Jun 24 | 201,532 | 44,246 | 123,044 | 0 |
| 31 Mar 24 | 197,016 | 44,341 | 119,173 | 0 |
| 31 Dec 23 | 194,524 | 40,783 | 120,830 | 0 |
| 30 Sep 23 | 189,873 | 40,773 | 115,941 | 0 |
| 30 Jun 23 | 186,704 | 40,770 | 113,396 | 0 |
| 31 Mar 23 | 183,423 | 39,526 | 112,242 | 0 |
| 31 Dec 22 | 178,888 | 39,052 | 109,340 | 0 |
| 30 Sep 22 | 173,754 | 37,018 | 107,508 | 0 |
| 30 Jun 22 | 169,923 | 35,721 | 105,859 | 0 |
| 31 Mar 22 | 166,199 | 34,492 | 104,160 | 0 |
| 31 Dec 21 | 162,700 | 33,860 | 102,146 | 0 |
| 30 Sep 21 | 157,122 | 33,530 | 98,238 | 0 |
| 30 Jun 21 | 152,594 | 32,342 | 95,959 | 0 |
| 31 Mar 21 | 147,402 | 30,932 | 93,496 | 0 |
| 31 Dec 20 | 142,110 | 30,357 | 88,008 | 0 |
| 30 Sep 20 | 134,767 | 24,828 | 87,650 | 0 |
| 30 Jun 20 | 130,994 | 20,799 | 86,751 | 0 |
| 31 Mar 20 | 125,517 | 18,804 | 83,547 | 0 |
| 31 Dec 19 | 120,518 | 14,492 | 81,622 | 0 |
| 30 Sep 19 | 121,883 | 17,613 | 77,716 | 0 |
| 30 Jun 19 | 120,050 | 17,148 | 77,603 | 0 |
| 31 Mar 19 | 118,405 | 15,985 | 77,313 | 0 |
| 31 Dec 18 | 117,291 | 17,536 | 74,896 | 0 |
| 30 Sep 18 | 109,502 | 16,896 | 69,882 | 0 |
| 30 Jun 18 | 103,533 | 18,787 | 63,006 | 0 |
| 31 Mar 18 | 98,432 | 20,156 | 56,493 | 0 |
| 31 Dec 17 | 93,614 | 19,203 | 53,916 | 0 |
| 30 Sep 17 | 87,521 | 18,527 | 48,791 | 0 |
| 30 Jun 17 | 82,458 | 18,987 | 44,335 | 0 |
| 31 Mar 17 | 76,393 | 17,035 | 41,260 | 0 |
| 31 Dec 16 | 70,366 | 18,178 | 37,094 | 0 |
| 30 Sep 16 | 63,571 | 15,258 | 34,937 | 0 |
| 30 Jun 16 | 58,952 | 13,067 | 33,154 | 0 |
| 31 Mar 16 | 54,422 | 11,988 | 30,819 | 0 |
| 31 Dec 15 | 49,679 | 10,047 | 28,570 | 0 |
| 30 Sep 15 | 45,979 | 9,875 | 25,643 | 0 |
| 30 Jun 15 | 43,637 | 9,627 | 23,784 | 0 |
Quality Earnings: 3092 has high quality earnings.
Growing Profit Margin: 3092's current net profit margins (21%) are lower than last year (21.3%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: 3092's earnings have grown by 8.4% per year over the past 5 years.
Accelerating Growth: 3092's earnings growth over the past year (5.7%) is below its 5-year average (8.4% per year).
Earnings vs Industry: 3092 earnings growth over the past year (5.7%) did not outperform the Specialty Retail industry 6.7%.
Return on Equity
High ROE: 3092's Return on Equity (44.9%) is considered outstanding.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/02 07:47 |
| End of Day Share Price | 2026/06/02 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2026/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
ZOZO, Inc. is covered by 24 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Yoshitaka Nagao | BofA Global Research |
| Keiichi Yoneshima | Citigroup Inc |
| Oliver James Gray Matthew | CLSA |