<div id="readability-page-1"><div><h2>Why Ono Pharmaceutical’s latest earnings matter for shareholders</h2> <p>Ono Pharmaceutical (TSE:4528) has drawn fresh attention after reporting nine month results to December 31, 2025, with sales of ¥397,036 million and net income of ¥68,949 million, both above the prior year period.</p> <p>See our latest analysis for Ono Pharmaceutical.</p> <p>The latest nine month earnings update appears to have supported sentiment, with a 1 day share price return of 1.26% and a 30 day share price return of 11.03%. The 1 year total shareholder return of 74.91% contrasts with slightly negative 3 and 5 year total shareholder returns, suggesting recent momentum has strengthened after a weaker longer term run.</p> <p>If Ono Pharmaceutical’s renewed momentum has caught your eye, this can be a good moment to broaden your watchlist and check out our 6 healthcare AI stocks identified by the Simply Wall St screener.</p> <p>Yet with the share price well above the average analyst target and our model suggesting only a modest intrinsic discount, you have to ask yourself: is Ono still undervalued, or is the market already pricing in future growth?</p> <h2>Price-to-Earnings of 19.1x: Is it justified?</h2> <p>Ono Pharmaceutical is trading on a P/E of 19.1x, which screens as slightly expensive versus the JP Pharmaceuticals industry average of 15.4x. This is even though our model suggests the shares are trading around 9.8% below intrinsic value at ¥2,536.5 compared with a DCF estimate of ¥2,811.48.</p> <p>The P/E ratio compares the current share price to earnings per share. For a company like Ono with established products and high quality earnings, it reflects how much investors are willing to pay for each unit of profit.</p> <p>Against industry peers, the 19.1x multiple points to investors paying a premium relative to the sector average of 15.4x. However, it sits very close to the estimated fair P/E of 19.6x that our model suggests the market could gravitate toward if pricing fully aligned with fundamentals.</p> <p>Explore the SWS fair ratio for Ono Pharmaceutical</p> <p><strong>Result: Price-to-Earnings of 19.1x (ABOUT RIGHT)</strong></p> <p>However, you still need to weigh risks such as annual revenue and net income contraction, as well as the share price trading well above the average analyst target.</p> <p>Find out about the key risks to this Ono Pharmaceutical narrative.</p> <h2>Another view on value</h2> <p>The P/E suggests Ono is roughly in line with its fair ratio, but our DCF model paints a slightly different picture. On that view, the shares at ¥2,536.5 sit below an estimated value of ¥2,811.48, which raises a simple question: is the recent rally already enough?</p> <p>Look into how the SWS DCF model arrives at its fair value.</p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/659028ff-e6bd-446d-8a5e-51a934043f4d/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/659028ff-e6bd-446d-8a5e-51a934043f4d/chart/dcf"/><figcaption>4528 Discounted Cash Flow as at Feb 2026</figcaption></figure><p>Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Ono Pharmaceutical for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 22 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.</p> <h2> Build Your Own Ono Pharmaceutical Narrative</h2> <p>If you see the numbers differently, or simply want to rely on your own work, you can build a personalised view in just a few minutes, starting with Do it your way.</p> <p>A great starting point for your Ono Pharmaceutical research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.</p> <h2>Looking for more investment ideas?</h2> <p>If Ono is on your radar, do not stop there. Use the same tools to spot other opportunities that match your goals and risk comfort.</p> <ul> <li>Target potential mispricings by scanning our 22 high quality undervalued stocks that may offer stronger fundamentals than their current share prices suggest.</li> <li>Strengthen your income focus by checking companies in the 16 dividend fortresses that pair higher yields with an emphasis on resilience.</li> <li>Prioritise sturdier business profiles by reviewing the 44 resilient stocks with low risk scores that aim to balance return potential with fewer red flags.</li> </ul> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data     and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your     financial situation. We aim to bring you long-term focused analysis driven by fundamental data.     Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p><div><h3><strong>New: </strong>AI Stock Screener &amp; Alerts</h3><p>Our new AI Stock Screener scans the market every day to uncover opportunities.</p><div><p>• Dividend Powerhouses (3%+ Yield)<br/>• Undervalued Small Caps with Insider Buying<br/>• High growth Tech and AI Companies</p><p>Or build your own from over 50 metrics.</p></div><p>Explore Now for Free</p></div></div></div>

OPHLY

4528

<p>Ono Pharmaceutical (TSE:4528) reported strong nine-month earnings with sales of ¥397,036 million and net income of ¥68,949 million, surpassing last year's figures. The stock saw a 1.26% increase in one day and an 11.03% rise over 30 days, with a total shareholder return of 74.91% over the past year. Currently trading at a P/E of 19.1x, slightly above the industry average of 15.4x, the shares are considered close to intrinsic value but raise questions about future growth expectations. Investors should weigh risks of revenue contraction and high share prices against potential opportunities in the market.</p>

Assessing Ono Pharmaceutical (TSE:4528) Valuation After Improved Nine Month Earnings