CALBEE (2229) AI Stock Analysis

• Market Cap: ¥400.28B
• Dividend Yield: 1.95%
• Average Volume (3M): 400.30K
• Price to Earnings (P/E): 13.6
• Beta (1Y): 0.28
• Revenue Growth: 5.82%
• EPS Growth: -13.40%
• Country: JP
• Employees: 4,939
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 55.06
• Shares Outstanding: 133,929,800
• 10 Day Avg. Volume: 399,620
• 30 Day Avg. Volume: 400,303
• PEG Ratio: 3.38
• Price to Book (P/B): 1.70
• Price to Sales (P/S): 1.08
• P/FCF Ratio: 31.74
• 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: ¥2,844.25
• Price Target Upside: -4.04% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 4
• EPS Forecast (FY): 158.92
• Revenue Forecast (FY): ¥356.02B

• Rating: 66 Neutral
• Price Target: ¥3,241.00 ▲(9.35% Upside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is driven primarily by solid financial strength (steady profitability and low leverage), partially offset by recent margin compression and uneven cash-flow conversion. Technical signals are mixed with weaker near-term price action despite longer-term support, and valuation looks fair-to-full with a modest dividend yield.

Positive Factors

Conservative balance sheet and low leverage

Calbee's low debt-to-equity and stable equity base provide durable financial flexibility. Low leverage supports resilience to demand shocks, funds targeted reinvestment or marketing, and preserves capacity for dividends or opportunistic M&A without jeopardizing core operations.

Negative Factors

Recent margin compression in TTM

The meaningful drop in net and operating margins erodes earnings power and indicates pressure from costs or weaker pricing. If persistent, margin compression will reduce internally generated funds for reinvestment and dividends, making multi-quarter recovery necessary to restore prior profitability.

CALBEE Business Overview & Revenue Model

Company Description

Calbee, Inc. engages in the production and sale of snacks and other food products in Japan, North America, Greater China, the United Kingdom, Indonesia, and internationally. It offers potato-based, flour-based, corn-and bean-based, and other snack...

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Calbee, Inc. engages in the production and sale of snacks and other food products in Japan, North America, Greater China, the United Kingdom, Indonesia, and internationally. It offers potato-based, flour-based, corn-and bean-based, and other snack...

How the Company Makes Money

Calbee makes money primarily through the production and sale of its snack food products, with a significant portion of revenue derived from its popular potato chips and other snack varieties. The company operates on a revenue model that includes b...

Read more

Calbee makes money primarily through the production and sale of its snack food products, with a significant portion of revenue derived from its popular potato chips and other snack varieties. The company operates on a revenue model that includes b...

CALBEE Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	335.53B	322.56B	303.03B	279.31B	245.42B	266.75B
Gross Profit	108.35B	109.83B	101.82B	90.10B	83.87B	117.69B
EBITDA	40.59B	43.29B	39.83B	34.15B	36.05B	37.73B
Net Income	16.14B	20.87B	19.89B	14.77B	18.05B	17.68B
Balance Sheet
Total Assets	328.17B	319.17B	292.16B	239.09B	236.60B	238.98B
Cash, Cash Equivalents and Short-Term Investments	34.90B	56.76B	44.30B	32.17B	59.00B	73.47B
Total Debt	52.09B	36.55B	27.04B	1.85B	2.00B	6.60B
Total Liabilities	111.59B	104.10B	91.07B	56.41B	53.14B	56.23B
Stockholders Equity	205.34B	205.18B	191.75B	174.11B	175.38B	175.37B
Cash Flow
Free Cash Flow	11.07B	10.99B	-6.24B	-6.44B	9.84B	19.73B
Operating Cash Flow	31.08B	39.10B	24.35B	19.31B	22.33B	30.45B
Investing Cash Flow	-18.70B	-28.32B	-35.03B	-19.88B	4.10B	-31.93B
Financing Cash Flow	-10.53B	2.25B	16.57B	-20.45B	-25.63B	-7.77B

CALBEE Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2964.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2229, the sentiment is Positive. The current price of 2964 is below the 20-day moving average (MA) of 3061.93, below the 50-day MA of 3026.54, and above the 200-day MA of 2849.94, indicating a bullish trend. The MACD of 32.70 indicates Negative momentum. The RSI at 55.90 is Neutral, neither overbought nor oversold. The STOCH value of 65.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2229.

CALBEE Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2220	74 Outperform	¥95.10B	7.83	―	1.47%	20.44%	1199.18%
2212	73 Outperform	¥661.83B	14.57	9.18%	1.13%	3.53%	4.88%
2229	66 Neutral	¥400.28B	13.58	7.90%	1.95%	5.82%	-13.40%
2206	65 Neutral	¥381.25B	68.53	1.86%	1.64%	8.40%	-23.50%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
2269	62 Neutral	¥1.07T	13.62	5.97%	2.96%	2.79%	-6.46%
2226	58 Neutral	¥49.77B	13.26	―	1.19%	3.71%	-4.44%