ASKUL (2678) AI Stock Analysis

• Market Cap: ¥106.38B
• Dividend Yield: 2.67%
• Average Volume (3M): 264.76K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.46
• Revenue Growth: 1.69%
• EPS Growth: -57.32%
• Country: JP
• Employees: 3,687
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): -82.26
• Shares Outstanding: 89,771,300
• 10 Day Avg. Volume: 210,080
• 30 Day Avg. Volume: 264,760
• PEG Ratio: -0.32
• Price to Book (P/B): 1.90
• Price to Sales (P/S): 0.31
• P/FCF Ratio: 40.65
• 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: ¥1,379.59
• Price Target Upside: 16.32% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): -118.83
• Revenue Forecast (FY): ¥421.44B

• Rating: 64 Neutral
• Price Target: ¥1,282.00 ▲(8.09% Upside)
• Action: Downgraded Date: 10/11/25
• Date: Action: Downgraded 10/11/25

ASKUL's overall stock score is primarily influenced by its financial performance and valuation. While the company shows strong revenue growth, challenges in profitability and cash flow management are significant concerns. The technical analysis indicates a bearish trend, but the valuation remains reasonable with an attractive dividend yield.

Positive Factors

Recurring B2B/B2C consumables model

ASKUL’s core model targets repeat consumable purchases for businesses and consumers. That frequency supports stable, predictable order volumes, higher customer retention, and stronger lifetime value, underpinning durable revenue streams and procurement scale advantages.

Negative Factors

Negative free cash flow

Negative free cash flow is a structural concern: it limits the company’s ability to self-fund growth, capex, or return capital, and increases reliance on external financing. Sustained negative FCF can pressure liquidity and constrain long-term strategic investments.

ASKUL Business Overview & Revenue Model

Company Description

ASKUL Corporation provides office supplies mail-order services for small and medium sized offices in Japan. The company was incorporated in 1963 and is headquartered in Tokyo, Japan....

How the Company Makes Money

ASKUL primarily makes money by selling products through its distribution platforms to corporate and institutional customers (B2B) and to individual consumers (B2C). Revenue is generated mainly from (1) merchandise sales where ASKUL earns a gross m...

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ASKUL primarily makes money by selling products through its distribution platforms to corporate and institutional customers (B2B) and to individual consumers (B2C). Revenue is generated mainly from (1) merchandise sales where ASKUL earns a gross m...

ASKUL Financial Statement Overview

Breakdown	TTM	May 2024	May 2023	May 2022	May 2021	May 2020
Income Statement
Total Revenue	485.04B	481.10B	471.68B	446.71B	428.52B	422.15B
Gross Profit	119.87B	117.54B	117.50B	107.04B	105.07B	104.38B
EBITDA	24.06B	25.19B	27.60B	21.80B	21.00B	20.52B
Net Income	7.87B	9.07B	19.14B	9.79B	9.21B	7.76B
Balance Sheet
Total Assets	233.13B	227.78B	243.06B	227.51B	188.33B	190.49B
Cash, Cash Equivalents and Short-Term Investments	48.80B	48.42B	61.74B	66.22B	58.79B	66.26B
Total Debt	44.00B	36.24B	36.14B	40.79B	25.20B	28.41B
Total Liabilities	159.64B	146.52B	161.72B	160.63B	131.06B	131.28B
Stockholders Equity	70.02B	77.79B	78.26B	64.15B	56.76B	58.77B
Cash Flow
Free Cash Flow	2.98B	3.63B	10.71B	13.44B	15.06B	11.11B
Operating Cash Flow	5.57B	12.91B	16.89B	20.13B	17.95B	16.00B
Investing Cash Flow	-4.36B	-16.52B	-11.47B	-21.99B	-10.74B	-9.03B
Financing Cash Flow	-3.91B	-9.70B	-9.89B	9.29B	-14.68B	-3.97B

ASKUL Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1186.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2678, the sentiment is Negative. The current price of 1186 is below the 20-day moving average (MA) of 1224.95, below the 50-day MA of 1301.60, and below the 200-day MA of 1431.26, indicating a bearish trend. The MACD of -31.20 indicates Negative momentum. The RSI at 39.49 is Neutral, neither overbought nor oversold. The STOCH value of 33.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2678.

ASKUL Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9843	71 Outperform	¥1.50T	11.88	9.29%	1.11%	―	―
3048	66 Neutral	¥296.06B	14.98	11.17%	2.61%	5.63%	25.64%
2678	64 Neutral	¥106.38B	-4.58	10.61%	2.67%	1.69%	-57.32%
9831	64 Neutral	¥457.06B	9.24	4.18%	2.57%	1.26%	14.65%
3064	62 Neutral	¥886.00B	38.31	28.71%	1.03%	14.16%	26.13%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
4755	41 Neutral	¥1.62T	-12.21	-21.14%	―	11.45%	42.34%