Hulic Co Ltd (JP:3003)
:3003
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Hulic Co
(3003)
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Rating:65Neutral
Price Target:
¥1,754.00
▼(-1.60% Downside)
Action:Downgraded
Date: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
Business model / recurring rental income
Hulic's core model—owning, developing and leasing urban office assets in Japan—generates recurring rental cash flows and fee income. That integrated platform (acquisition, development, management) supports stable, multi-year cash generation and scale advantages in local markets.
Negative Factors
High and rising leverage
Elevated and increasing leverage heightens refinancing and interest-rate vulnerability, reducing financial flexibility for new developments or downturns. If credit conditions tighten, servicing higher gross debt could force asset sales or curtail growth investments over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Business model / recurring rental income
Hulic's core model—owning, developing and leasing urban office assets in Japan—generates recurring rental cash flows and fee income. That integrated platform (acquisition, development, management) supports stable, multi-year cash generation and scale advantages in local markets.
Read all positive factors
Hulic Co (3003) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.31T
Dividend Yield3.25%
Average Volume (3M)1.56M
Price to Earnings (P/E)11.4
Beta (1Y)0.57
Revenue Growth24.50%
EPS Growth11.52%
CountryJP
Employees2,828
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)135.51
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)162.13
Revenue Forecast (FY)¥868.63B
Hulic Co Business Overview & Revenue Model
Company Description
Hulic Co., Ltd. is a Japanese enterprise primarily focused on the real estate sector, where it handles the development, leasing, sale, and intermediation of various properties throughout Japan. Its business activities are organized across three ke...
How the Company Makes Money
Hulic primarily makes money from real estate operations tied to its owned property portfolio. Key revenue streams typically include: (1) rental income from leasing space in its buildings (e.g., offices and other tenantable real estate), where earn...
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 | 191.57B | 213.01B | 183.25B | 165.26B | 144.53B | 131.81B |
| 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
1782.62
Negative
1845.15
Negative
1727.39
Negative
Market Momentum
-26.34
Negative
50.70
Neutral
78.91
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 above the 20-day moving average (MA) of 1688.63, below the 50-day MA of 1782.62, and above the 200-day MA of 1727.39, indicating a neutral trend. The MACD of -26.34 indicates Negative momentum. The RSI at 50.70 is Neutral, neither overbought nor oversold. The STOCH value of 78.91 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 |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | ¥1.31T | 11.36 | 13.29% | 3.25% | 24.50% | 11.52% | |
65 Neutral | ¥676.70B | 13.67 | 10.59% | 2.94% | -5.83% | -26.32% | |
62 Neutral | ¥193.49B | 10.87 | 16.39% | 2.38% | 11.56% | 14.99% | |
61 Neutral | ¥114.58B | 7.33 | 15.81% | 2.93% | 12.51% | 12.42% | |
56 Neutral | ¥855.26B | 9.70 | 7.40% | 3.68% | 24.40% | 11.46% | |
56 Neutral | ¥3.24T | 15.53 | 9.64% | 0.97% | 4.29% | 12.76% |
* Real Estate Sector Average
JP:3003
Hulic Co
1,725.50
331.57
23.79%
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20.62%
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Hulic Co Corporate Events
Hulic Sets Price for ¥28.7 Billion International Secondary Share Offering
May 21, 2026
Hulic Co., Ltd., a major Japanese real estate operator listed on the Prime Market, has announced pricing details for a secondary offering of its common stock in international markets. The company’s move reflects ongoing efforts to tap global...
Hulic Launches International Secondary Share Offering to Boost Liquidity and Global Investor Base
May 21, 2026
Hulic Co., Ltd. has approved an international secondary offering of 17,392,100 shares of its common stock, to be sold by existing shareholders including Oki Electric Industry, Yasuda Logistics, Aomori Michinoku Bank and Katakura Industries. The sa...
Hulic Boosts Revenue and Raises Planned 2026 Dividend Despite Profit Margin Pressure
Apr 27, 2026
Hulic reported a strong rise in operating revenue for the first quarter of 2026, with sales up 44.8% year on year to ¥226.8 billion, while operating and ordinary profit edged down slightly and profit attributable to owners of parent increased...
Hulic to Exit Shobu Property Silent Partnership in Strategic Real Estate Portfolio Shift
Mar 25, 2026
Hulic Co., Ltd. has decided to sell all of its silent partnership investment interests in Shobu Property LLC, an 80%-owned consolidated subsidiary engaged in real estate and trust beneficiary rights, resulting in the subsidiary’s removal fro...
Hulic to Sell Major Minatomirai Property in Capital Recycling Move
Mar 17, 2026
Hulic Co., Ltd. has decided to sell its Hulic Minatomirai property, a 24-story mixed-use building completed in 2010 and located adjacent to Sakuragicho Station in Yokohama’s Minatomirai area. The asset, with over 102,000 square meters of tot...
Hulic launches employee share-based benefit trust to align staff with long-term growth
Mar 17, 2026
Hulic will introduce a new share-based benefit trust (J-ESOP-RS) to grant company shares or equivalent cash to eligible employees, aligning them more closely with shareholders and management. The plan, modeled on the U.S. ESOP system and administe...
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.