Bull-Dog Sauce Co., Ltd. (2804) AI Stock Analysis

• Market Cap: ¥23.67B
• Dividend Yield: 1.98%
• Average Volume (3M): 15.80K
• Price to Earnings (P/E): 37.6
• Beta (1Y): 0.49
• Revenue Growth: 1.73%
• EPS Growth: N/A
• Country: JP
• Employees: 302
• Sector: Consumer Defensive
• Sector Strength: 76
• Industry: Packaged Foods
• EPS (TTM): 9.63
• Shares Outstanding: 13,954,880
• 10 Day Avg. Volume: 23,950
• 30 Day Avg. Volume: 15,796
• PEG Ratio: 0.20
• Price to Book (P/B): 1.05
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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

• Rating: 66 Neutral
• Price Target: ―

Bull-Dog Sauce Co., Ltd. presents a mixed financial picture. While the company exhibits strong equity backing and efficient production, profitability and cash flow issues are notable concerns. Technical indicators suggest moderate market momentum, but the high P/E ratio indicates potential overvaluation. The dividend yield provides slight compensation for valuation concerns.

Bull-Dog Sauce Co., Ltd. Business Overview & Revenue Model

Company Description

Bull-Dog Sauce Co., Ltd. (2804) is a Japanese company specializing in the production and distribution of a variety of sauces and condiments. Established in 1902, the company is renowned for its signature 'tonkatsu' sauce, which is a staple in Japanese cuisine. Bull-Dog Sauce Co., Ltd. caters to both domestic and international markets, providing products that enhance the flavor of everyday meals. The company operates within the food sector, focusing on high-quality ingredients and traditional manufacturing techniques to deliver a distinctive taste experience.

How the Company Makes Money

Bull-Dog Sauce Co., Ltd. generates revenue primarily through the sale of its diverse range of sauces and condiments. The company's key revenue streams include its flagship 'tonkatsu' sauce, Worcestershire sauces, and other related products. Sales are made through various channels such as supermarkets, online platforms, and direct distribution to restaurants and food service providers. Additionally, Bull-Dog Sauce Co., Ltd. engages in strategic partnerships with retailers and distributors to expand its market reach both in Japan and internationally. The company's earnings are influenced by factors such as consumer preferences, market trends, and its ability to innovate and adapt to changing culinary demands.

Bull-Dog Sauce Co., Ltd. Financial Statement Overview

Summary

Bull-Dog Sauce Co., Ltd. demonstrates stability in equity and production efficiency; however, it faces challenges in profitability and cash flow management. The company needs strategies to enhance margins and improve cash flow, considering the declining revenue trend and leverage levels.

Income Statement

The company shows a stable gross profit margin of approximately 29.7% in TTM, indicating efficient production. However, the net profit margin is relatively low at 3.0%. Revenue has decreased from previous years, impacting overall growth. EBIT and EBITDA margins are modest at 1.5% and 10.3%, respectively, suggesting room for profitability improvements.

Balance Sheet

The company maintains a healthy equity ratio of 63.8% in TTM, reflecting strong equity backing. However, the debt-to-equity ratio is higher than optimal at 0.27, indicating some leverage. Return on equity stands at a moderate 2.0%, showing potential for better utilization of equity.

Cash Flow

The absence of operating and free cash flow in TTM raises concerns about liquidity management. In the previous annual report, free cash flow was negative, which could indicate operational inefficiencies or high capital expenditures affecting cash reserves.

Breakdown
TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement		Total Revenue
14.49B	14.48B	13.53B	13.30B	17.71B	17.24B
	Gross Profit
4.31B	4.39B	4.41B	4.57B	9.03B	8.80B
	EBIT
211.99M	163.81M	430.89M	651.64M	721.06M	639.98M
	EBITDA
1.49B	1.20B	1.81B	1.72B	1.71B	1.63B
	Net Income Common Stockholders
435.33M	145.41M	595.77M	716.87M	693.95M	692.44M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
1.98B	1.99B	6.06B	4.59B	4.87B	4.30B
	Total Assets
20.10B	33.75B	36.30B	29.76B	26.81B	25.83B
	Total Debt
1.60B	6.29B	5.78B	729.59M	488.20M	710.08M
	Net Debt
-378.17M	4.30B	-273.96M	-3.86B	-4.38B	-3.59B
	Total Liabilities
5.58B	12.29B	16.04B	9.62B	6.26B	6.02B
	Stockholders Equity
14.52B	21.46B	20.26B	20.14B	20.55B	19.81B
Cash Flow		Free Cash Flow
0.00	-4.73B	-3.96B	-120.78M	1.03B	950.34M
	Operating Cash Flow
0.00	90.17M	45.00M	1.13B	1.51B	1.24B
	Investing Cash Flow
0.00	-4.08B	-3.13B	-1.19B	-165.18M	-270.07M
	Financing Cash Flow
0.00	31.18M	4.57B	-413.76M	-774.13M	-292.06M

Bull-Dog Sauce Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1763.00
• 50DMA: Positive
• 100DMA: Positive
• 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:2804, the sentiment is Positive. The current price of 1763 is above the 20-day moving average (MA) of 1737.15, above the 50-day MA of 1724.26, and below the 200-day MA of 1765.08, indicating a neutral trend. The MACD of 5.69 indicates Negative momentum. The RSI at 56.59 is Neutral, neither overbought nor oversold. The STOCH value of 56.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2804.

Bull-Dog Sauce Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2914	78 Outperform	$7.89T	44.01	4.55%	4.05%	10.98%	-63.74%
2801	74 Outperform	$1.30T	20.73	12.17%	1.76%	7.29%	9.77%
2809	74 Outperform	€448.15B	15.92	9.19%	1.70%	5.92%	56.91%
2802	73 Outperform	¥3.41T	48.92	8.89%	1.11%	6.35%	-114.08%
2810	67 Neutral	¥265.75B	20.68	4.20%	1.69%	5.28%	-26.74%
2804	66 Neutral	¥23.67B	37.62		1.98%	1.73%	―
Sector *	64 Neutral	$8.84B	14.60	4.80%	202.45%	3.49%	2.06%

Bull-Dog Sauce Co., Ltd. Corporate Events

Bull-Dog Sauce Co., Ltd. Announces Share Repurchase

Bull-Dog Sauce Co., Ltd. announced the repurchase of 41,500 of its common shares for a total of JPY 73,932,800, executed through market purchases on the Tokyo Stock Exchange in March 2025. This move is part of a larger share repurchase plan approved by the board, aiming to repurchase up to 600,000 shares, reflecting a strategic effort to enhance shareholder value and optimize capital structure.