Daiichi Sankyo Co Ltd
4568: XTKS (JPN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
¥9,749.00 | Rrvcpcj | Gqhqpwkls |
Daiichi Sankyo Earnings: Strong Start to the Year; Exceeds Expectations Across Business Lines
Narrow-moat Daiichi Sankyo's first-quarter earnings exceeded our expectations due to strong performance across its businesses, including Enhertu and Lixiana sales as well as its American Regent business. Revenue for the three months was JPY 436.2 billion, or 24% year-on-year growth, which we think is a strong result even after adjusting for a foreign exchange tailwind of 8.7%, or JPY 30.4 billion. We maintain our fair value estimate of JPY 5,500 per share, which is close to the current market price.