Takeda Pharmaceutical Co Ltd banner
Financial profile · Q2 FY2027

A global pharmaceutical platform with durable cash generation and uneven reported earnings

Takeda's multi-year record combines a broad revenue base with operating earnings that vary as intangible-asset amortization, impairments and restructuring shift. It generates substantial operating cash, while meaningful capital spending reduces the amount converted into free cash flow.

What is developing

The latest quarter showed positive reported earnings and a stronger operating margin, but trailing operating income remains subdued and first-half reported revenue growth was largely currency-driven. This is an improvement in reported results, not clear evidence of a changed underlying growth or margin profile.

What matters next

Whether constant-currency revenue growth turns positive while trailing operating income continues to recover.

JPY
Metric FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026
1.7T 1.8T 2.1T 3.3T 3.2T 3.6T 4T 4.3T 4.6T 4.5T
(558.8B) (495.9B) (651.7B) (1.1T) (994.3B) (1.1T) (1.2T) (1.4T) (1.6T) (1.6T)
1.2T 1.3T 1.4T 2.2T 2.2T 2.5T 2.8T 2.8T 3T 2.9T
(982B) (1.1T) (1.3T) (1.9T) (1.9T) (1.9T) (2.2T) (2.4T) (2.4T) (2.3T)
(619.1B) (628.1B) (717.6B) (964.7B) (875.7B) (886.4B) (997.3B) (1.1T) (1.1T) (1.1T)
R&D
(312.3B) (325.4B) (368.3B) (492.4B) (455.8B) (526.1B) (633.3B) (728.6B) (730.2B) (668.6B)
(156.7B) (122.1B) (178.6B) (455.4B) (421.9B) (472.9B) (542.4B) (518.4B) (547.6B) (500.1B)
106B 3.9B 2.5B (2.4B) (114.4B) (31.3B) (59.4B) (93.1B) (60.2B) (21.2B)
191.3B 202.8B 183.5B 286.5B 335.7B 545.5B 550.9B 449.4B 560B 663.5B
(3.4B) 42.5B (97.1B) (158.2B) (234.7B) (142.6B) (158.2B) (196.5B) (182B) (325.6B)
7.6B 10B 48.2B 149B 130.8B 122.4B 117B 119.5B 137.3B 148.1B
(44.5B) (28.2B) 41.2B (189B) 265.2B (100.3B) (17.6B) (200.1B) (203B) (480.2B)
1m — — — — 1m — 1m 0 —
143.3B 217.2B 127.6B (60.8B) 366.2B 302.6B 375.1B 52.8B 175.1B (142.4B)
(27.8B) (30.5B) 7.5B 105B 9.9B (72.4B) (58.1B) 91.4B (66.9B) (9.8B)
115.5B 186.7B 135.1B 44.3B 376.2B 230.2B 317B 144.2B 108.1B (152.1B)
(573m) 178m 112m (49m) (166m) (107m) (21m) (130m) (215m) (264m)
114.9B 186.9B 135.2B 44.2B 376B 230.1B 317B 144.1B 107.9B (152.4B)
146.25 237.56 139.82 28.25 238.96 145.87 201.94 92.09 68.36 (96.75)