BASE FOOD Inc. (2936) AI Stock Analysis

• Market Cap: ¥23.44B
• Dividend Yield: N/A
• Average Volume (3M): 127.44K
• Price to Earnings (P/E): 229.2
• Beta (1Y): 0.64
• Revenue Growth: 2.47%
• EPS Growth: N/A
• Country: JP
• Employees: 128
• Sector: Consumer Defensive
• Sector Strength: 66
• Industry: Packaged Foods
• EPS (TTM): 7.33
• Shares Outstanding: 54,499,800
• 10 Day Avg. Volume: 110,390
• 30 Day Avg. Volume: 127,436
• PEG Ratio: -0.51
• Price to Book (P/B): 11.68
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -23.90
• 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: 64 Neutral
• Price Target: ¥507.00 ▲(12.67%Upside)

The overall stock score is driven primarily by strong financial performance, with the company showing significant revenue growth and improved profitability. Technical indicators provide mixed signals, and the high P/E ratio suggests potential overvaluation. These factors combined result in a moderate overall score.

BASE FOOD Inc. Business Overview & Revenue Model

Company Description

BASE FOOD Inc. (2936) is a Japan-based company specializing in the development, production, and sale of nutritionally balanced food products. The company focuses on providing convenient, healthy meal options through its range of staple foods that include bread and pasta products. BASE FOOD aims to address modern dietary needs by offering products that are rich in essential nutrients, making them suitable for health-conscious consumers seeking to maintain a balanced diet without sacrificing convenience.

How the Company Makes Money

BASE FOOD Inc. generates revenue primarily through the direct sale of its nutritionally balanced food products. The company sells its products online through its e-commerce platform and collaborates with various retail partners to distribute its products in physical stores. Revenue streams include both subscription-based sales, where customers can receive regular deliveries of products, and one-time purchases. Partnerships with health-focused organizations and retailers also contribute to its earnings by expanding its market reach and visibility. Additionally, BASE FOOD may engage in promotional activities and collaborations with nutrition experts or influencers to boost brand awareness and sales.

BASE FOOD Inc. Financial Statement Overview

Summary

BASE FOOD Inc. has shown robust revenue growth and improved profitability, transitioning to positive net income and cash flows. The balance sheet reflects growing financial stability with low debt. However, historical challenges in operational efficiency and cash flow volatility remain areas to monitor.

Income Statement

BASE FOOD Inc. has demonstrated strong revenue growth over the past few years, with a significant increase from 2021 to 2025. The gross profit margin has also improved, indicating effective cost management. The company has moved from negative to positive net income, showcasing a turnaround in profitability. However, past negative EBIT and EBITDA margins suggest challenges in operational efficiency, though recent figures show improvement.

Balance Sheet

The balance sheet reflects a steady increase in stockholders' equity over the years, highlighting growing financial stability. With a low debt-to-equity ratio and a healthy equity ratio, BASE FOOD Inc. appears to be in a strong position to manage its liabilities. However, the company must continue to focus on maintaining this balance as it scales.

Cash Flow

The cash flow statement shows a significant improvement in operating cash flow, moving from negative to positive territory. The free cash flow has also shown growth, albeit from a negative starting point. The positive trajectory in cash flow to net income ratios indicates enhanced cash generation relative to earnings, though historical volatility in free cash flow suggests a need for ongoing cash management.

Breakdown
TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement		Total Revenue
14.89B	15.24B	14.87B	9.86B	5.55B	1.52B
	Gross Profit
8.01B	8.38B	7.40B	5.27B	3.27B	876.20M
	EBIT
-641.69M	136.51M	-902.89M	-970.99M	-454.21M	-158.95M
	EBITDA
-557.96M	207.62M	-853.89M	-979.40M	-457.24M	-161.32M
	Net Income Common Stockholders
-607.86M	108.95M	-856.02M	-1.01B	-463.07M	-163.58M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
1.67B	1.98B	1.43B	2.30B	837.00M	289.77M
	Total Assets
3.67B	3.85B	3.28B	3.61B	1.59B	500.49M
	Total Debt
1.05B	809.69M	508.25M	530.00M	60.00M	61.09M
	Net Debt
-621.28M	-1.17B	-922.67M	-1.77B	-777.00M	-228.68M
	Total Liabilities
3.03B	2.81B	2.43B	1.97B	945.73M	367.21M
	Stockholders Equity
640.16M	1.04B	842.46M	1.64B	643.03M	133.28M
Cash Flow		Free Cash Flow
0.00	51.56M	-737.74M	-801.18M	-384.63M	-104.11M
	Operating Cash Flow
0.00	130.43M	-665.90M	-732.92M	-373.07M	-102.65M
	Investing Cash Flow
0.00	34.93M	-229.44M	-265.40M	-46.12M	-11.56M
	Financing Cash Flow
0.00	386.88M	29.66M	2.46B	966.42M	379.03M

BASE FOOD Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 450.00
• 50DMA: Negative
• 100DMA: Negative
• 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:2936, the sentiment is Negative. The current price of 450 is below the 20-day moving average (MA) of 464.25, below the 50-day MA of 475.14, and above the 200-day MA of 423.08, indicating a neutral trend. The MACD of -9.34 indicates Positive momentum. The RSI at 41.89 is Neutral, neither overbought nor oversold. The STOCH value of 41.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2936.

BASE FOOD Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2884	75 Outperform	¥24.21B	12.88		―	16.73%	80.15%
2915	75 Outperform	¥29.15B	8.08		2.12%	3.36%	30.33%
2933	66 Neutral	¥24.34B	9.40		1.88%	2.09%	-8.76%
Sector *	65 Neutral	$8.82B	14.91	4.71%	6.22%	3.60%	-2.66%
2936	64 Neutral	¥23.44B	229.20		―	2.47%	―
2819	64 Neutral	¥23.60B	17.68		1.97%	6.08%	-22.00%
2922	62 Neutral	¥25.35B	18.75		1.19%	2.76%	-3.44%

BASE FOOD Inc. Corporate Events

BASE FOOD Inc. Reports Positive Financial Turnaround for Fiscal Year 2025

BASE FOOD Inc. reported its non-consolidated financial results for the fiscal year ending February 28, 2025, showing a positive turnaround with net sales of 15,241 million yen, marking a 2.5% increase from the previous year. The company achieved an operating profit of 136 million yen, a significant improvement from the previous year’s loss, indicating a strengthening financial position. The forecast for the next fiscal year anticipates continued growth with projected net sales of 17,413 million yen and an operating profit increase of 41.8%, reflecting the company’s optimistic outlook and potential for further market expansion.