Mandarake Inc. (2652) AI Stock Analysis

• Market Cap: ¥13.02B
• Dividend Yield: 0.29%
• Average Volume (3M): 177.19K
• Price to Earnings (P/E): 11.5
• Beta (1Y): 0.62
• Revenue Growth: 5.03%
• EPS Growth: -17.66%
• Country: JP
• Employees: 347
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): 9.56
• Shares Outstanding: 36,180,000
• 10 Day Avg. Volume: 176,670
• 30 Day Avg. Volume: 177,186
• PEG Ratio: 0.92
• Price to Book (P/B): 1.25
• Price to Sales (P/S): 0.94
• P/FCF Ratio: 13.68
• 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: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 76 Outperform
• Price Target: ¥400.00 ▲(17.99% Upside)

Mandarake Inc. achieves a strong overall stock score driven by robust financial performance and positive technical indicators. The company's valuation suggests potential undervaluation, although the modest dividend yield offers limited income potential. The absence of earnings call and corporate events data does not impact the score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates Mandarake's ability to expand its market presence and capitalize on the growing global interest in Japanese pop culture, supporting long-term business stability.

Profit Margins

Strong profit margins reflect operational efficiency and pricing power, enabling Mandarake to sustain profitability even in competitive markets, enhancing long-term financial health.

Cash Flow Management

Effective cash flow management ensures Mandarake can fund operations and investments, providing financial flexibility and supporting sustainable growth.

Negative Factors

Earnings Decline

A decline in earnings per share growth may signal challenges in maintaining profitability, potentially impacting investor confidence and future investment capacity.

Debt Management

While debt levels are manageable, significant debt requires careful oversight to avoid financial strain, which could limit strategic opportunities and increase risk.

Operating Cash Flow Decrease

A decrease in operating cash flow could indicate potential issues in cash generation, affecting the company's ability to fund operations and growth initiatives.

Mandarake Inc. Business Overview & Revenue Model

Company Description

Mandarake Inc. (2652) is a Japanese retail company specializing in the sale of second-hand manga, anime merchandise, and various collectibles. Established in 1987, Mandarake operates multiple stores primarily in Akihabara, Tokyo, catering to enthusiasts of otaku culture. The company offers a wide range of products, including rare and vintage items, figures, and cosplay accessories, both in physical stores and through their online platform, making it a significant player in the niche market of anime and manga collectibles.

How the Company Makes Money

Mandarake generates revenue through multiple channels, primarily from the sale of second-hand goods, including manga, anime merchandise, and collectibles. The company's revenue model is based on purchasing items from individuals, which allows them to offer unique products at competitive prices. Key revenue streams include sales from physical retail locations, online sales through their e-commerce website, and participation in events and conventions where they sell directly to consumers. Additionally, Mandarake benefits from a loyal customer base and partnerships with various distributors and publishers, enhancing their product offerings and driving sales. The company's success is also supported by the increasing global interest in Japanese pop culture, which has expanded its customer reach beyond domestic markets.

Mandarake Inc. Financial Statement Overview

Summary

Mandarake Inc. demonstrates strong financial performance with consistent revenue growth, robust profit margins, and effective cash flow management. The company maintains a stable balance sheet with manageable debt levels, although continued focus on leverage is advised.

Income Statement

Mandarake Inc. demonstrates strong income statement performance with a consistent revenue growth trajectory, highlighted by a 12.58% increase from 2023 to 2024. Gross profit margins are robust at 54.8%, and the net profit margin improved to 9.5%. EBIT and EBITDA margins also reflect operational efficiency, standing at 14.4% and 16.1%, respectively. Overall, the company shows healthy profitability and growth trends.

Balance Sheet

The balance sheet reflects solid equity growth, with the equity ratio at 60.1%, indicating financial stability. The debt-to-equity ratio decreased to 0.47, showing effective debt management. Return on Equity is strong at 12.7%, driven by increased net income. However, the presence of significant total debt requires careful monitoring to maintain leverage stability.

Cash Flow

Mandarake's cash flow statement shows a positive free cash flow growth of 4.4%, with a solid operating cash flow to net income ratio of 0.79. The free cash flow to net income ratio is at 0.72, indicating effective cash conversion. The company has managed to fund its operations and investments effectively, although a slight decrease in operating cash flow warrants attention.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	14.46B	12.84B	10.59B	9.63B	9.02B
Gross Profit	7.92B	7.02B	5.78B	5.26B	4.78B
EBITDA	2.33B	2.11B	1.18B	840.85M	535.29M
Net Income	1.38B	1.25B	587.48M	357.39M	139.19M
Balance Sheet
Total Assets	18.09B	17.92B	16.67B	16.12B	15.85B
Cash, Cash Equivalents and Short-Term Investments	1.25B	1.47B	845.47M	736.35M	766.57M
Total Debt	5.06B	6.15B	6.45B	6.78B	7.05B
Total Liabilities	7.23B	8.30B	8.30B	8.33B	8.41B
Stockholders Equity	10.86B	9.62B	8.37B	7.79B	7.44B
Cash Flow
Free Cash Flow	995.62M	953.24M	459.63M	240.21M	82.78M
Operating Cash Flow	1.09B	1.19B	562.06M	392.92M	232.74M
Investing Cash Flow	-90.50M	-257.47M	-118.59M	-140.02M	-204.91M
Financing Cash Flow	-1.21B	-309.16M	-334.79M	-283.23M	79.62M

Mandarake Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 339.00
• 50DMA: Positive
• 100DMA: Positive
• 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:2652, the sentiment is Positive. The current price of 339 is below the 20-day moving average (MA) of 355.10, below the 50-day MA of 344.58, and above the 200-day MA of 328.04, indicating a neutral trend. The MACD of -4.18 indicates Positive momentum. The RSI at 47.78 is Neutral, neither overbought nor oversold. The STOCH value of 39.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2652.

Mandarake Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2652	76 Outperform	¥13.02B	11.55	―	0.29%	5.03%	-17.66%
2674	74 Outperform	¥25.34B	11.58	―	3.99%	7.88%	-5.92%
3159	69 Neutral	¥30.63B	6.49	―	0.88%	6.29%	114.31%
3093	65 Neutral	¥40.71B	14.21	―	2.23%	17.90%	14.14%
2751	64 Neutral	¥40.96B	22.88	―	0.26%	18.32%	-18.02%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%