Bronco Billy Co., Ltd. (3091) AI Stock Analysis

• Market Cap: ¥57.75B
• Dividend Yield: 0.64%
• Average Volume (3M): 52.58K
• Price to Earnings (P/E): 28.9
• Beta (1Y): 0.48
• Revenue Growth: 12.90%
• EPS Growth: 7.89%
• Country: JP
• Employees: 672
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Restaurants
• EPS (TTM): 36.95
• Shares Outstanding: 15,079,000
• 10 Day Avg. Volume: 39,350
• 30 Day Avg. Volume: 52,583
• PEG Ratio: 1.91
• Price to Book (P/B): 2.59
• Price to Sales (P/S): 1.86
• P/FCF Ratio: 29.05
• 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: 72 Outperform
• Price Target: ¥4,385.00 ▲(15.85% Upside)

The score is driven by solid financial fundamentals—especially a very strong, low-debt balance sheet and improving earnings—supported by a positive technical trend. This is tempered by a relatively high P/E and low dividend yield, plus some variability in cash conversion versus reported profits.

Positive Factors

Low Leverage / Strong Balance Sheet

Very low leverage and steadily rising equity give durable financial flexibility. This supports investment in stores, weathering demand shocks, and opportunistic capex or M&A without forcing debt financing, strengthening long-term solvency and strategic optionality.

Sustained Revenue and Profit Recovery

Consistent post-2020 revenue growth and expanding net income indicate recovering and resilient consumer demand for the company’s dining concepts. This trend supports scale benefits, more predictable margins, and a firmer base for multi-year operational planning.

Improving Free Cash Flow Generation

Rising free cash flow over several years enhances the company's ability to fund reinvestment, maintenance capex, and shareholder returns without relying on external financing. Structural FCF improvement supports sustainable operations and discretionary investment.

Negative Factors

Weak Cash Conversion vs. Reported Earnings

Cash conversion below accounting profits signals working-capital timing or collection issues that can constrain real liquidity. Over months this limits internal funding for expansion or cushions in downturns, raising reliance on balance-sheet buffers.

Historical Earnings Volatility

Prior years of operating and net losses illustrate the business’s sensitivity to demand shocks and operational disruption. While recovered, the restaurant model remains cyclical, leaving medium-term earnings exposed to consumer spending and external shocks.

Moderate Return on Equity

An improving but modest ROE implies capital is deployed conservatively and may not generate high shareholder returns versus peers. Over a multi-month horizon this can limit equity-level profitability and investor return potential if efficiency gains stall.

Bronco Billy Co., Ltd. Business Overview & Revenue Model

Company Description

BRONCO BILLY Co., LTD. operates restaurants in Japan. Its restaurant primarily offers steak, hamburger, and fresh salad, as well as alcohol. As of December 31, 2020, it operated 128 stores. BRONCO BILLY Co., LTD. was incorporated in 1982 and is headquartered in Nagoya, Japan.

How the Company Makes Money

Bronco Billy Co., Ltd. generates revenue through multiple streams, primarily from ticket sales for entry into its amusement parks and attractions. Additional significant revenue comes from the sale of food and beverages within the parks, as well as merchandise related to its brand and attractions. The company also capitalizes on special events and seasonal activities, which draw in larger crowds and increase overall sales. Partnerships with local businesses for promotions and sponsorships further contribute to its earnings, alongside potential licensing deals for branded merchandise. The diversified approach to revenue generation allows Bronco Billy to mitigate risks associated with fluctuating visitor numbers.

Bronco Billy Co., Ltd. Financial Statement Overview

Summary

Strong post-2020 recovery with steady revenue growth and expanding operating profit/net income, supported by a very low-leverage balance sheet and rising equity. Main offsets are earlier-period volatility and cash conversion that trails accounting earnings (e.g., operating cash flow below net income in 2023–2024).

Income Statement

Profitability and growth have improved meaningfully post-2020: revenue rose steadily from 2022–2025 (2025 revenue up ~6% YoY), while operating profit and net income expanded over the same period (net income nearly doubled from 2022 to 2025). Margins were healthy in 2023–2024 (gross margin ~62–68%, net margin ~4–6%), supporting a solid earnings profile for the business. Offsetting this, results were volatile earlier (2020 net loss and 2021 operating loss), and 2025 margin detail is not provided, limiting visibility into whether profitability is still improving or merely holding.

Balance Sheet

The balance sheet is a clear strength: leverage is very low in recent years (debt-to-equity ~1.7% in 2024 and ~2.4% in 2023), with total debt declining sharply versus 2020–2021 levels. Equity has grown consistently (from ~¥17.2B in 2020 to ~¥21.7B in 2025), and assets are well-supported by equity, indicating strong financial flexibility. The main drawback is that returns on equity, while improving (about 8.5% in 2024), are not exceptionally high, suggesting the company’s conservative capital structure may come with some efficiency trade-offs.

Cash Flow

Cash generation is generally solid in the recovery period: operating cash flow and free cash flow were positive from 2021–2025, and free cash flow increased from ~¥0.57B (2022) to ~¥1.59B (2024) and ~¥1.94B (2025). However, cash conversion is not consistently strong—operating cash flow covered only ~71% of net income in 2024 (and ~74% in 2023), and free cash flow was ~60% of net income in 2024, implying working-capital or cash timing pressures. Historical volatility is also notable (2020 negative operating and free cash flow).

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	28.52B	30.22B	26.62B	23.38B	19.51B	15.77B
Gross Profit	19.19B	20.30B	18.00B	14.57B	13.13B	10.28B
EBITDA	3.48B	3.70B	3.30B	2.33B	1.80B	2.17B
Net Income	1.73B	1.97B	1.72B	1.00B	687.14M	955.19M
Balance Sheet
Total Assets	25.34B	26.71B	24.52B	22.76B	21.48B	26.87B
Cash, Cash Equivalents and Short-Term Investments	8.28B	8.91B	7.39B	7.65B	6.68B	12.62B
Total Debt	344.00M	326.00M	332.00M	445.89M	817.14M	6.09B
Total Liabilities	4.58B	5.00B	4.45B	4.11B	3.60B	8.91B
Stockholders Equity	20.76B	21.72B	20.07B	18.65B	17.88B	17.96B
Cash Flow
Free Cash Flow	0.00	1.94B	1.59B	1.47B	567.93M	600.50M
Operating Cash Flow	0.00	3.37B	2.67B	2.55B	1.62B	2.42B
Investing Cash Flow	0.00	-1.44B	-1.39B	-1.09B	-1.44B	-1.82B
Financing Cash Flow	0.00	-403.00M	-564.59M	-626.54M	-6.12B	520.23M

Bronco Billy Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3785.00
• 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:3091, the sentiment is Negative. The current price of 3785 is below the 20-day moving average (MA) of 3854.25, below the 50-day MA of 3870.42, and above the 200-day MA of 3773.76, indicating a neutral trend. The MACD of -12.98 indicates Positive momentum. The RSI at 45.58 is Neutral, neither overbought nor oversold. The STOCH value of 26.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3091.

Bronco Billy Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3091	72 Outperform	¥57.75B	28.95	―	0.64%	12.90%	7.89%
3399	72 Outperform	¥66.01B	19.84	―	0.14%	24.70%	26.13%
9900	67 Neutral	¥58.45B	37.52	―	0.53%	13.01%	33.56%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
8200	59 Neutral	¥57.82B	54.06	―	0.56%	7.52%	3.37%
3395	57 Neutral	¥61.58B	31.27	―	1.95%	23.52%	-13.42%
2752	53 Neutral	¥54.91B	1,217.46	―	0.17%	2.74%	―

Bronco Billy Co., Ltd. Corporate Events

Bronco Billy Adds Commemorative Dividend as New Management Marks First Full Year

Bronco Billy Co., Ltd. has approved a year-end dividend of 15 yen per share for the fiscal year ended December 2025, including a 2 yen commemorative dividend on top of a 13 yen ordinary dividend, with the total payout amounting to 223 million yen and an effective date of March 9, 2026. The commemorative dividend is intended to express gratitude to shareholders following the launch of a new management structure under a new president on April 1, 2025, lifting the total annual dividend to 28 yen per share and underscoring the company’s commitment to balancing stable shareholder returns with investment in future growth through retained earnings.

The most recent analyst rating on (JP:3091) stock is a Buy with a Yen4220.00 price target. To see the full list of analyst forecasts on Bronco Billy Co., Ltd. stock, see the JP:3091 Stock Forecast page.

Bronco Billy Delivers Double-Digit Earnings Growth and Hikes Dividend for FY2025

Bronco Billy Co., Ltd. reported solid growth for the fiscal year ended December 31, 2025, with net sales rising 13.5% to ¥30.2 billion and profit attributable to owners of parent increasing 14.8% to ¥1.97 billion, supported by improved operating margins and higher earnings per share. The company strengthened its financial position, with total assets and net assets both increasing and cash and cash equivalents rising to ¥8.86 billion, while also raising its annual dividend from ¥24 to ¥28 per share and forecasting further top-line growth in 2026 to ¥33.0 billion alongside steady profit expansion, signaling continued commitment to shareholder returns and sustained, though moderating, earnings growth.

The most recent analyst rating on (JP:3091) stock is a Buy with a Yen4220.00 price target. To see the full list of analyst forecasts on Bronco Billy Co., Ltd. stock, see the JP:3091 Stock Forecast page.

Bronco Billy Co., Ltd. Reports Modest Growth in 2025 Financial Results

Bronco Billy Co., Ltd. reported a 12.6% increase in net sales for the nine months ending September 30, 2025, compared to the previous year. The company’s operating profit and ordinary profit also saw modest growth, with increases of 2.2% and 3.6%, respectively. Despite these positive results, the growth rates have slowed compared to the previous year, indicating potential challenges in maintaining momentum. The company’s financial position remains strong with a high equity-to-asset ratio of 82.8%, suggesting stability and potential for future investments.

The most recent analyst rating on (JP:3091) stock is a Hold with a Yen4044.00 price target. To see the full list of analyst forecasts on Bronco Billy Co., Ltd. stock, see the JP:3091 Stock Forecast page.