Alpen Co., Ltd. (3028) AI Stock Analysis

• Market Cap: ¥89.23B
• Dividend Yield: 2.11%
• Average Volume (3M): 105.95K
• Price to Earnings (P/E): 17.0
• Beta (1Y): 0.13
• Revenue Growth: 6.04%
• EPS Growth: 93.19%
• Country: JP
• Employees: 3,127
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): 15.72
• Shares Outstanding: 38,888,000
• 10 Day Avg. Volume: 80,280
• 30 Day Avg. Volume: 105,950
• PEG Ratio: 0.07
• Price to Book (P/B): 0.75
• Price to Sales (P/S): 0.34
• P/FCF Ratio: 36.12
• 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
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: ¥2,440.00 ▲(2.78% Upside)

Alpen Co., Ltd. has a solid financial foundation with strong revenue growth and a stable balance sheet, which is the most significant factor in its overall score. The technical analysis indicates a bearish trend, which weighs down the score. The valuation is reasonable, with a fair P/E ratio and a decent dividend yield, providing some support to the stock's attractiveness.

Positive Factors

Revenue Growth

Consistent revenue growth indicates Alpen's ability to expand its market presence and adapt to consumer demand, supporting long-term business sustainability.

Balance Sheet Health

A strong balance sheet with low leverage provides financial stability and flexibility, enabling Alpen to invest in growth opportunities and withstand economic fluctuations.

Cash Flow Improvement

Improved cash flow management enhances Alpen's ability to fund operations, invest in new projects, and return value to shareholders, supporting long-term financial health.

Negative Factors

Profitability Concerns

Low net profit margins may indicate inefficiencies or pricing challenges, which could impact Alpen's ability to generate sustainable profits and invest in future growth.

Cash Flow Volatility

Volatile cash flow ratios suggest potential challenges in maintaining consistent cash generation, which could affect Alpen's capacity to meet financial obligations and fund strategic initiatives.

Equity Financing Reliance

Heavy reliance on equity financing may limit Alpen's ability to leverage debt for growth, potentially constraining financial flexibility and impacting future expansion efforts.

Alpen Co., Ltd. Business Overview & Revenue Model

Company Description

Alpen Co., Ltd. engages in the manufacture and retail sale of sporting and leisure equipment in Japan. It offers ski equipment; and other sporting goods equipment, including golf, tennis, marine sports, baseball, etc. The company's products include general sports goods and apparel, sports casual apparel, helmets, hats, skis, ski bags, snowboards, snowshoes, snow goggles, sunglasses, and other accessories. It also offers tents, sun shelters, sleeping gears, furniture, lighting equipment, burning/combustion appliances, cooking supplies, sacks, bags, trekking wear, rainwear, outdoor tools, and trekking tools, as well as golf wear, trousers, polo shirts clubs, bags, shoes, balls, hats, sun visors, and accessories. In addition, the company provides winter products, including snowboard binding, board boots, goggles, bag accessories, tune up tools, deck pads, ski boards, ski boots, ski poles, board wear, ski wears, knitted hats, gloves, inner wears, and fleece wears; and casual products, such as down wears, parkers, sweat shirts, jackets, denim pants, T-shirts, tank tops, high-neck shirts, pants, cut and sew apparel, skirts, ensemble, dresses, scarves, gloves, and track jackets. Further, it offers marine sport products comprising rash guards, swimsuits, sandals, and beach sandals; and accessories consisting of belts, tool sets, knick-knacks, stickers, badges, mobile phone goods, socks, chairs, wristbands, key holders, knives, pet bottle carrying cases, tote bags, shoulder bags, coin cases, pouches, wallet chains, chains, and negative ion rings. Additionally, it manages ski resorts, golf courses, and fitness clubs. The company operates primarily under the IGNIO, TIGORA, FABLICE, Hart, Folio, KAZAMA, Southfield, TOBUNDA, Coraggio, Kolwin, Fitway, and Kissmark brand names. As of June 30, 2020, it operated 144 stores under the Alpen and Sports Depot; and 196 stores under the Golf 5 name. Alpen Co., Ltd. was founded in 1972 and is headquartered in Nagoya, Japan.

How the Company Makes Money

Alpen Co., Ltd. generates revenue through multiple key streams, including the sale of sporting goods and outdoor equipment through its retail stores and online platforms. The company operates a chain of retail outlets across Japan, where it markets its products directly to consumers. Additionally, Alpen Co., Ltd. earns revenue from wholesale distribution agreements with various regional and international retailers. The company also engages in partnerships with sports organizations and events, which can provide sponsorship income and enhance brand visibility. Seasonal trends, especially during winter sports seasons, significantly impact sales, contributing to fluctuations in revenue. Overall, the company's diverse product offerings and strategic retail and distribution channels play a crucial role in its financial performance.

Alpen Co., Ltd. Financial Statement Overview

Summary

Alpen Co., Ltd. exhibits solid financial performance with strong revenue growth and a stable balance sheet. The company has improved its cash flow position, although there are areas for improvement in profitability and cash flow consistency. The low leverage and healthy equity position provide a stable foundation for future growth, but attention to cost management and cash flow sustainability will be crucial.

Income Statement

Alpen Co., Ltd. has demonstrated strong revenue growth with a 0.802% increase in the latest year, indicating a positive trajectory. The gross profit margin remains healthy, and there is a notable improvement in EBIT and EBITDA margins compared to previous years. However, the net profit margin is relatively low, suggesting room for improvement in cost management or pricing strategies.

Balance Sheet

The company's balance sheet shows a stable equity position with a low debt-to-equity ratio, indicating prudent financial management. Return on equity is moderate, reflecting consistent profitability. However, the equity ratio suggests that there is a significant reliance on equity financing, which could limit leverage opportunities.

Cash Flow

Alpen Co., Ltd. has shown a significant improvement in free cash flow, with a positive growth rate indicating better cash management. The operating cash flow to net income ratio is strong, suggesting efficient conversion of income into cash. However, the free cash flow to net income ratio has been volatile, highlighting potential challenges in sustaining cash flow generation.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	268.65B	268.65B	252.94B	244.54B	232.33B	233.22B
Gross Profit	107.56B	107.56B	98.07B	94.22B	92.52B	98.80B
EBITDA	13.84B	14.40B	8.52B	10.64B	14.00B	21.56B
Net Income	5.57B	5.57B	1.73B	5.47B	5.31B	10.77B
Balance Sheet
Total Assets	205.92B	205.92B	201.88B	186.50B	193.30B	207.91B
Cash, Cash Equivalents and Short-Term Investments	15.15B	15.15B	18.84B	17.51B	28.91B	56.95B
Total Debt	11.77B	11.77B	13.53B	5.44B	12.54B	25.23B
Total Liabilities	84.77B	84.77B	84.64B	70.81B	81.97B	99.10B
Stockholders Equity	121.14B	121.14B	117.24B	115.70B	111.33B	108.81B
Cash Flow
Free Cash Flow	0.00	2.53B	-3.85B	-394.00M	-9.18B	41.23B
Operating Cash Flow	0.00	9.08B	5.71B	5.79B	-4.70B	46.88B
Investing Cash Flow	0.00	-8.57B	-10.51B	-6.75B	-7.55B	-5.75B
Financing Cash Flow	0.00	-3.44B	5.39B	-9.87B	-15.92B	-4.76B

Alpen Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2374.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3028, the sentiment is Positive. The current price of 2374 is above the 20-day moving average (MA) of 2345.80, above the 50-day MA of 2321.04, and above the 200-day MA of 2332.30, indicating a bullish trend. The MACD of 11.56 indicates Negative momentum. The RSI at 60.61 is Neutral, neither overbought nor oversold. The STOCH value of 95.43 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3028.

Alpen Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9832	75 Outperform	¥128.67B	12.97	7.75%	3.63%	17.43%	248.12%
9842	71 Outperform	¥119.16B	12.50	―	2.08%	5.33%	13.54%
2681	69 Neutral	¥75.79B	15.32	―	1.81%	6.48%	-38.41%
3028	63 Neutral	¥89.23B	17.02	―	2.11%	6.04%	93.19%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
8281	60 Neutral	¥46.64B	-46.86	―	3.31%	0.88%	-138.66%
7514	53 Neutral	¥10.29B	940.68	―	3.08%	3.31%	-94.69%

Alpen Co., Ltd. Corporate Events

Alpen Co., Ltd. Completes Treasury Stock Disposal for Compensation

Alpen Co., Ltd. has completed the payment procedures for the disposal of treasury stock as restricted stock compensation, as resolved by its Board of Directors. This disposal involved 9,485 shares of common stock at a price of ¥2,286 per share, amounting to a total of ¥21,682,710, and was allocated to directors and executive officers. This move is likely aimed at aligning the interests of the company’s leadership with its long-term performance.

Alpen Co., Ltd. Reports Mixed Financial Results for Q3 2025

Alpen Co., Ltd. reported its consolidated financial results for the three months ending September 30, 2025, showing a 4.9% increase in net sales compared to the previous year. However, the company experienced a decline in operating profit, ordinary profit, and profit attributable to owners of the parent, with decreases of 22.4%, 24.0%, and 24.7% respectively. The financial results reflect challenges in maintaining profitability despite increased sales, which may impact the company’s strategic positioning and stakeholder confidence.

Alpen Co., Ltd. Announces Disposal of Treasury Stock for Executive Compensation

Alpen Co., Ltd. announced the disposal of 9,485 shares of its treasury stock as part of a Restricted Stock Compensation Plan aimed at incentivizing directors and executive officers. This move is designed to align the interests of management with shareholders and promote long-term corporate value enhancement. The disposal involves a total amount of ¥21,682,710, with transfer restrictions on the allocated shares to ensure continued service by the eligible recipients.

Alpen Co., Ltd. Discloses Controlling Shareholder Information

Alpen Co., Ltd. has disclosed information about its controlling shareholder, Taizo Mizuno, who holds a significant portion of voting rights. The company emphasizes the role of its Board of Directors and a special committee of independent directors in ensuring the protection of minority shareholders during transactions with the controlling shareholder.