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Pickles Holdings Co., Ltd.
(2935)
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Rating:69Neutral
Price Target:
¥1,240.00
▼(-6.42% Downside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by stable financial footing (low leverage and improved 2026 cash flow) and supportive valuation (low P/E with a dividend). These positives are tempered by uneven revenue trends and margin compression, plus only modest/weak technical momentum with the stock below key moving averages.
Positive Factors
Conservative balance sheet
Low and declining absolute debt with rising equity indicates durable financial resilience. This conservative capital structure supports investment optionality, dividend sustainability, and a stronger buffer in downturns, reducing refinancing and solvency risk over the medium term.
Negative Factors
Choppy revenue trend
Repeated annual revenue declines indicate persistent demand or market-share challenges. A weakening top line limits scalability and makes margin recovery harder to sustain, increasing reliance on cost cuts or non-recurring gains to restore earnings durability.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low and declining absolute debt with rising equity indicates durable financial resilience. This conservative capital structure supports investment optionality, dividend sustainability, and a stronger buffer in downturns, reducing refinancing and solvency risk over the medium term.
Read all positive factors
Pickles Holdings Co., Ltd. (2935) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥14.32B
Dividend Yield2.52%
Average Volume (3M)32.72K
Price to Earnings (P/E)10.1
Beta (1Y)0.45
Revenue Growth-3.26%
EPS Growth39.47%
CountryJP
Employees411
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)114.34
Shares Outstanding12,858,430
10 Day Avg. Volume31,670
30 Day Avg. Volume32,720
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)0.77
Price to Sales (P/S)0.38
P/FCF Ratio4.06
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)95.78
Revenue Forecast (FY)¥40.40B
Pickles Holdings Co., Ltd. Business Overview & Revenue Model
Company Description
Pickles Holdings Co.,Ltd., through its subsidiaries, manufactures and sells pickled vegetables and side dishes in Japan. It also engages in the restaurant and retail business; and agricultural business. The company was founded in 1977 and is headq...
How the Company Makes Money
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Pickles Holdings Co., Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Feb 2026 | Feb 2025 | Feb 2024 | Feb 2023 | Feb 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.38B | 40.92B | 41.52B | 43.03B | 41.05B | 45.01B |
| Gross Profit | 8.95B | 8.80B | 8.10B | 8.64B | 8.63B | 12.20B |
| EBITDA | 3.37B | 3.35B | 2.41B | 2.80B | 2.70B | 4.00B |
| Net Income | 1.43B | 1.38B | 958.00M | 1.18B | 1.14B | 2.13B |
Balance Sheet | ||||||
| Total Assets | 30.93B | 30.20B | 30.24B | 27.71B | 26.31B | 26.20B |
| Cash, Cash Equivalents and Short-Term Investments | 5.98B | 6.21B | 4.97B | 7.75B | 5.94B | 6.03B |
| Total Debt | 3.44B | 3.22B | 4.85B | 3.14B | 2.65B | 2.95B |
| Total Liabilities | 10.63B | 10.15B | 11.36B | 9.46B | 8.90B | 9.44B |
| Stockholders Equity | 20.29B | 20.04B | 18.86B | 18.24B | 17.40B | 16.76B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 3.81B | -3.86B | 1.77B | 783.00M | 2.80B |
| Operating Cash Flow | 0.00 | 4.20B | 831.00M | 2.72B | 1.67B | 3.52B |
| Investing Cash Flow | 0.00 | -428.00M | -4.69B | -950.00M | -882.00M | -712.00M |
| Financing Cash Flow | 0.00 | -2.53B | 1.08B | 45.00M | -876.00M | -1.21B |
Pickles Holdings Co., Ltd. Technical Analysis
Negative
1325.00
Price Trends
1125.00
Negative
1138.13
Negative
1177.18
Negative
Market Momentum
1.29
Positive
38.56
Neutral
1.14
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2935, the sentiment is Negative. The current price of 1325 is above the 20-day moving average (MA) of 1155.85, above the 50-day MA of 1125.00, and above the 200-day MA of 1177.18, indicating a bearish trend. The MACD of 1.29 indicates Positive momentum. The RSI at 38.56 is Neutral, neither overbought nor oversold. The STOCH value of 1.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2935.
Pickles Holdings Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ¥14.32B | 10.07 | ― | 2.16% | -3.26% | 39.47% | |
66 Neutral | ¥16.14B | 26.02 | ― | 2.11% | 5.82% | 75.67% | |
65 Neutral | ¥13.52B | 8.90 | ― | 1.43% | 5.88% | 180.90% | |
63 Neutral | ¥24.84B | 22.59 | ― | 1.87% | 1.95% | -57.52% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
52 Neutral | ¥36.43B | 365.33 | ― | 1.65% | -0.17% | -70.23% | |
51 Neutral | ¥14.03B | 29.96 | ― | 1.61% | 2.00% | -44.01% |
* Consumer Defensive Sector Average
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Pickles Holdings Co., Ltd. Corporate Events
Pickles Holdings Finalizes Stock Option Terms for Executive Compensation
Jul 22, 2026
Pickles Holdings Co., Ltd., a Tokyo-listed food company known for its pickled and processed products, targets the domestic Japanese market under the leadership of President Naoji Kageyama. Its Prime Market listing underscores an established presen...
Pickles Holdings Launches Long-Term Stock Option Plan for Internal Directors
Jun 30, 2026
Pickles Holdings Co., Ltd. has approved the issuance of its twelfth series of share acquisition rights as stock options for internal directors, excluding outside directors, to more closely align management incentives with shareholder interests. Th...
Pickles Holdings Delivers Higher Q1 Profit But Guides for Softer Full-Year Earnings
Jun 30, 2026
Pickles Holdings reported consolidated net sales of ¥10.5 billion for the three months ended May 31, 2026, down 4.9% year on year, but achieved double-digit growth in operating profit and profit attributable to owners of parent, with earnings...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.