Hulic Co Ltd (JP:3003)
:3003
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Hulic Co
(3003)
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Rating:65Neutral
Price Target:
¥2,203.00
▲(23.59% Upside)
Action:DowngradedDate:01/31/26
The score is driven primarily by mixed fundamentals: solid profitability and a 2025 revenue rebound are offset by high and rising leverage and a sharp deterioration in cash generation (negative free cash flow). Technicals add support with a strong uptrend and positive momentum, while valuation and dividend yield are favorable.
Positive Factors
Profitability & Margins
Hulic’s 2025 EBIT (~26.5%) and net (~15.7%) margins demonstrate durable operating efficiency and pricing power in commercial real estate. Strong margins support reinvestment, cover interest costs and provide resilience through rental cycles, underpinning medium-term earnings stability.
Negative Factors
Rising Leverage
Leverage increasing to a ~2.42 debt-to-equity ratio and total debt near ¥2.21T materially raises refinancing and interest-rate sensitivity. Elevated debt limits strategic flexibility, increases solvency risk in downturns, and heightens exposure to tighter credit conditions over the medium term.
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Positive Factors
Negative Factors
Profitability & Margins
Hulic’s 2025 EBIT (~26.5%) and net (~15.7%) margins demonstrate durable operating efficiency and pricing power in commercial real estate. Strong margins support reinvestment, cover interest costs and provide resilience through rental cycles, underpinning medium-term earnings stability.
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Hulic Co (3003) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.35T
Dividend Yield3.25%
Average Volume (3M)1.56M
Price to Earnings (P/E)19.1
Beta (1Y)0.59
Revenue Growth24.50%
EPS Growth11.52%
CountryJP
Employees2,828
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)23.89
Shares Outstanding767,907,700
10 Day Avg. Volume1,510,980
30 Day Avg. Volume1,563,270
Financial Highlights & Ratios
PEG Ratio0.95
Price to Book (P/B)1.43
Price to Sales (P/S)1.79
P/FCF Ratio-8.29
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)162.18
Revenue Forecast (FY)¥833.89B
Hulic Co Business Overview & Revenue Model
Company Description
Hulic Co., Ltd. engages in the development, rental, sale, and brokerage of real estate properties in Japan. The company operates through three segments: Real Estate, Insurance, and Hotels and Inns. Its property portfolio includes office buildings,...
How the Company Makes Money
Hulic Co. generates revenue primarily through leasing and property management services. The company owns and manages a diverse portfolio of commercial properties, which provides a stable income stream from rental payments. Additionally, Hulic enga...
Hulic Co Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
52
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 686.84B | 727.45B | 591.62B | 446.38B | 523.42B | 447.08B |
| Gross Profit | 252.81B | 276.80B | 230.93B | 196.51B | 172.57B | 155.41B |
| EBITDA | 190.26B | 206.74B | 182.30B | 163.17B | 142.78B | 130.45B |
| Net Income | 103.10B | 114.33B | 102.34B | 94.63B | 79.15B | 69.56B |
Balance Sheet | ||||||
| Total Assets | 3.42T | 3.51T | 3.05T | 2.48T | 2.32T | 2.21T |
| Cash, Cash Equivalents and Short-Term Investments | 169.70B | 209.36B | 144.20B | 82.88B | 138.40B | 206.21B |
| Total Debt | 2.23T | 2.21T | 1.88T | 1.45T | 1.45T | 1.40T |
| Total Liabilities | 2.56T | 2.57T | 2.19T | 1.71T | 1.63T | 1.57T |
| Stockholders Equity | 848.29B | 913.36B | 833.07B | 765.66B | 686.73B | 637.80B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -157.01B | -11.32B | 13.58B | -25.00B | 77.34B |
| Operating Cash Flow | 0.00 | 269.24B | 353.39B | 270.82B | 266.11B | 289.02B |
| Investing Cash Flow | 0.00 | -542.50B | -602.02B | -295.20B | -345.33B | -286.84B |
| Financing Cash Flow | 0.00 | 270.27B | 300.59B | -31.15B | 11.44B | 106.49B |
Hulic Co Technical Analysis
Neutral
1782.50
Price Trends
1931.44
Negative
1828.27
Positive
1676.36
Positive
Market Momentum
-3.15
Negative
48.03
Neutral
34.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3003, the sentiment is Neutral. The current price of 1782.5 is below the 20-day moving average (MA) of 1873.40, below the 50-day MA of 1931.44, and above the 200-day MA of 1676.36, indicating a neutral trend. The MACD of -3.15 indicates Negative momentum. The RSI at 48.03 is Neutral, neither overbought nor oversold. The STOCH value of 34.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:3003.
Hulic Co Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥130.36B | 20.19 | 15.81% | 2.93% | 53.39% | 67.02% | |
73 Outperform | ¥4.52T | 16.16 | 9.64% | 0.97% | -1.33% | 25.13% | |
70 Outperform | ¥218.88B | 7.44 | 16.39% | 2.38% | 11.56% | 14.99% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | ¥1.35T | 19.14 | 13.29% | 3.25% | 24.50% | 11.52% | |
65 Neutral | ¥747.53B | 12.53 | 10.59% | 2.94% | 2.34% | -10.23% | |
56 Neutral | ¥930.97B | 10.45 | 7.40% | 3.68% | 24.40% | 11.46% |
* Real Estate Sector Average
JP:3003
Hulic Co
1,766.00
324.71
22.53%
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Hulic Co Corporate Events
Hulic Adds New Real Estate Vehicle as Subsidiary After Delayed Disclosure
Feb 25, 2026
Hulic Co., Ltd. has confirmed that a previously approved silent partnership investment of ¥16.76 billion in Hamakaze Property LLC qualifies as a change in subsidiary status, prompting a delayed but now issued disclosure and an apology for the...
Hulic Launches 10-Year Growth Plan Centered on Real Estate and M&A
Feb 2, 2026
Hulic has unveiled a new Medium- and Long-term Management Plan covering 2026 to 2036, designed to respond to shifts in its business environment and drive stable, sustained growth. The plan centers on expanding and diversifying its portfolio around...
Hulic Discloses ¥173.5 Billion Syndicated Loan for Raysum Tender Offer
Jan 29, 2026
Hulic Co., Ltd. has disclosed that it entered into a ¥173.5 billion unsecured syndicated loan agreement on June 25, 2025, to secure long-term funding for its tender offer for Raysum Co., Ltd., and acknowledged that this decision should have b...
Hulic Revamps Board, Adding Ex-GPIF Chief as External Director
Jan 29, 2026
Hulic Co., Ltd. has announced a series of board changes effective March 25, 2026, including the promotion of Executive Managing Officer Mikio Morikawa to director and the appointment of veteran financier Masataka Miyazono, a former president of th...
Hulic Prepares New 2026–2036 Management Plan After Strong 2025 Profit
Jan 29, 2026
Hulic Co., Ltd. has reported a consolidated ordinary profit of JPY 172.9 billion for the fiscal year ended December 31, 2025, marking solid progress toward the targets of its existing 2020–2029 medium- and long-term management plan. In respo...
Hulic to Raise FY2025 Year-End Dividend on Stronger Earnings
Jan 29, 2026
Hulic Co., Ltd. has announced that its board will propose a higher year-end dividend of ¥33.5 per share for fiscal 2025, with a record date of December 31, 2025, up from both the previously forecast ¥31.5 and the prior year’s ¥...
Hulic Delivers Double-Digit Profit Growth on Rising Revenues and Assets in FY2025
Jan 29, 2026
Hulic Co., Ltd., a major Japanese real estate and asset-focused company listed on the TSE Prime Market, reported strong growth in its consolidated results for the fiscal year ended December 31, 2025. The group continues to leverage a large balance...
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.