First Baking Co., Ltd. (2215) AI Stock Analysis

• Market Cap: ¥4.24B
• Dividend Yield: N/A
• Average Volume (3M): 22.40K
• Price to Earnings (P/E): 13.3
• Beta (1Y): 0.58
• Revenue Growth: 2.99%
• EPS Growth: -87.21%
• Country: JP
• Employees: 868
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 31.45
• Shares Outstanding: 6,929,900
• 10 Day Avg. Volume: 30,720
• 30 Day Avg. Volume: 22,400
• PEG Ratio: -0.16
• Price to Book (P/B): 0.50
• Price to Sales (P/S): 0.15
• P/FCF Ratio: -3.11
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 53 Neutral
• Price Target: ¥626.00 ▲(1.79% Upside)
• Action: Downgraded Date: 02/18/26
• Date: Action: Downgraded 02/18/26

The score is primarily constrained by weak and volatile cash flow (including deeply negative 2025 free cash flow) and inconsistent profitability, despite steady revenue growth. A conservative, debt-free balance sheet provides an important offset, while technical signals are neutral and valuation is moderately supportive (P/E ~13.35).

Positive Factors

Conservative balance sheet

Zero total debt in 2025 and rising equity materially reduce default and interest-rate risk, giving management financial flexibility. A conservative capital structure supports durable operations, funds selective investments internally, and better absorbs industry cyclicality over the medium term.

Negative Factors

Weak cash generation

A collapse in operating cash flow and deeply negative free cash flow signals a persistent earnings-to-cash conversion problem. This constrains reinvestment, may force external financing or asset sales, and raises the risk that reported profits don't translate into internally available funding.

First Baking Co., Ltd. Business Overview & Revenue Model

Company Description

First Baking Co., Ltd. manufactures and sells food products in Japan. It offers bread products and other confectionery products. The company was founded in 1947 and is headquartered in Kodaira, Japan....

How the Company Makes Money

First Baking Co., Ltd. generates revenue primarily through the sale of its baked goods across various channels. The company has established key revenue streams from direct sales to supermarkets, convenience stores, and foodservice establishments. ...

Read more

First Baking Co., Ltd. generates revenue primarily through the sale of its baked goods across various channels. The company has established key revenue streams from direct sales to supermarkets, convenience stores, and foodservice establishments. ...

First Baking Co., Ltd. Financial Statement Overview

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	27.63B	28.96B	27.18B	26.44B	24.55B	23.86B
Gross Profit	7.18B	7.43B	7.46B	7.04B	5.86B	6.26B
EBITDA	812.25M	1.01B	2.37B	1.06B	-503.00M	-70.00M
Net Income	261.00M	320.00M	2.06B	474.00M	-1.15B	-738.00M
Balance Sheet
Total Assets	14.95B	16.34B	15.78B	17.73B	17.08B	18.01B
Cash, Cash Equivalents and Short-Term Investments	3.47B	3.00B	3.96B	3.06B	2.17B	1.45B
Total Debt	5.00M	0.00	32.00M	3.89B	3.58B	4.44B
Total Liabilities	6.82B	7.78B	7.72B	11.52B	11.23B	10.52B
Stockholders Equity	8.13B	8.55B	8.05B	6.21B	5.84B	7.49B
Cash Flow
Free Cash Flow	0.00	-1.37B	114.00M	178.00M	142.00M	-530.00M
Operating Cash Flow	0.00	49.00M	952.00M	494.00M	473.00M	-10.00M
Investing Cash Flow	0.00	-1.91B	3.90B	-304.00M	788.00M	-646.00M
Financing Cash Flow	0.00	415.00M	-3.84B	698.00M	-543.00M	88.00M

First Baking Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 615.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2215, the sentiment is Negative. The current price of 615 is above the 20-day moving average (MA) of 606.95, above the 50-day MA of 614.48, and above the 200-day MA of 596.06, indicating a neutral trend. The MACD of -4.33 indicates Positive momentum. The RSI at 45.35 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2215.

First Baking Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3392	78 Outperform	¥15.77B	12.33	―	1.43%	10.77%	131.68%
2212	73 Outperform	¥705.59B	15.92	9.18%	1.13%	3.53%	4.88%
2936	70 Outperform	¥17.46B	48.02	―	―	7.07%	―
2204	67 Neutral	¥20.27B	3.09	―	2.12%	-1.97%	7.25%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
2215	53 Neutral	¥4.24B	13.31	―	―	2.99%	-87.21%
2224	52 Neutral	¥13.10B	26.20	―	0.20%	-5.06%	-122.27%