Chugai Pharmaceutical Co Ltd

4519: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	JPY 7,548.00	Ldzszw	Hfxfrctrk

Chugai Earnings: Results in Line, Upbeat Guidance for 2024, Fair Value Estimate Increased

Jay Lee

Feb 2, 2024

Narrow-moat Chugai’s full-year earnings were in line with expectations. Full-year revenue was JPY 1.11 trillion and operating profit margin was 36.9%. We've increased our fair value estimate to JPY 5,200 per share from JPY 4,860 due to incrementally higher forecasts for its hemophilia franchise, and we now view shares as fairly valued.

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