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

• Market Cap: ¥63.18B
• Dividend Yield: 0.64%
• Average Volume (3M): 52.58K
• Price to Earnings (P/E): 31.9
• Beta (1Y): 0.51
• 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): 143.05
• Revenue Forecast (FY): ¥33.25B

• Rating: 72 Outperform
• Price Target: ¥4,679.00 ▲(23.62% Upside)
• Action: Upgraded Date: 01/21/26
• Date: Action: Upgraded 01/21/26

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

Bronco Billy's very low leverage and steady equity growth provide durable financial flexibility, enabling investment in restaurants, weathering demand shocks, and prioritizing organic expansion or opportunistic M&A without reliance on external debt funding. This conservative structure supports long-term resilience and strategic optionality.

Recovery-Driven Revenue & Earnings Growth

Post-2020 recovery delivered sustained revenue expansion and meaningful net income growth, indicating strengthening product-market fit and improved operating execution. This trend underpins more predictable cash flows and supports scaling company-owned restaurant operations and margin improvement over the medium term.

Rising Free Cash Flow

Steadily increasing free cash flow demonstrates improving cash generation capacity that can fund capex, support modest returns to shareholders, or reduce debt. Growing FCF also gives management flexibility to reinvest in store upgrades, digital initiatives, or selective expansion without damaging the balance sheet.

Negative Factors

Subpar Cash Conversion

Operating cash flow trailing reported net income suggests working-capital timing or collection issues that can limit liquidity even when accounting profits rise. Persistent gaps reduce the reliability of earnings for funding reinvestment, dividends, or cushioning against downturns, increasing financial operational risk.

Historical Profit & Cash Volatility

The company's history of negative cash flows and an operating loss during 2020–2021 highlights sensitivity to demand shocks and operational disruption. Such volatility in a restaurant business can recur with macro or consumer shifts, complicating forecasting and long-term capital planning for a primarily company-owned store base.

Moderate Return on Equity

An ROE near the mid-single digits indicates modest capital efficiency; while low leverage reduces risk, it also limits shareholder return potential. Sustained improvement in asset turnover or margin expansion will be required to translate the company's strong balance sheet into higher long-term shareholder value.

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: Positive
• Last Price: 3785.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3091, the sentiment is Positive. The current price of 3785 is below the 20-day moving average (MA) of 3969.00, below the 50-day MA of 3898.51, and below the 200-day MA of 3806.10, indicating a bullish trend. The MACD of 70.28 indicates Negative momentum. The RSI at 72.94 is Negative, neither overbought nor oversold. The STOCH value of 94.07 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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	¥63.18B	31.86	―	0.64%	12.90%	7.89%
9900	67 Neutral	¥56.57B	38.66	―	0.53%	13.01%	33.56%
2705	66 Neutral	¥54.39B	45.33	―	0.17%	15.53%	-26.93%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
3198	60 Neutral	¥48.43B	43.77	―	1.30%	2.90%	-26.37%
8200	59 Neutral	¥57.26B	53.91	―	0.56%	7.52%	3.37%
2752	44 Neutral	¥55.32B	617.95	―	0.17%	2.74%	―

Bronco Billy Co., Ltd. Corporate Events

Bronco Billy Proposes Director Slate Ahead of March Shareholders’ Meeting

Bronco Billy Co., Ltd. has announced the slate of director candidates approved by its board for submission to the 44th Ordinary General Meeting of Shareholders scheduled for March 26, 2026. The list includes the reappointment of key executives such as Representative Director and Chair Katsuhiro Takeichi and Representative Director and President Shinki Sakaguchi, underscoring continuity in the company’s top leadership and strategic direction.

The company is also maintaining its existing Audit & Supervisory Committee structure by reappointing outside directors Yoji Hirano, Masatsugu Shimono, and Kenichiro Usui, while adding new outside director and committee member candidates Shunsuke Hayashi and Miki Nomura. This mix of continuity and fresh oversight is aimed at reinforcing governance and supervisory functions, which may be closely watched by shareholders and other stakeholders in light of ongoing expectations for robust corporate governance in Japan’s listed restaurant groups.

The most recent analyst rating on (JP:3091) stock is a Buy with a Yen4385.00 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 Sets March Shareholders Meeting to Elect New Board Members

Bronco Billy Co., Ltd. has resolved at its board meeting on February 12, 2026, to convene its 44th Ordinary General Meeting of Shareholders on March 26, 2026, in Nagoya. The meeting will be held at Wink Aichi’s large hall and will focus on key governance decisions, including the election of four directors who are not Audit & Supervisory Committee members and five directors who are Audit & Supervisory Committee members.

The proposed agenda underscores a broad renewal of the board structure, highlighting the company’s ongoing efforts to shape its governance framework. Shareholders will have an opportunity to influence the composition of both its regular board and its Audit & Supervisory Committee, which could affect oversight, strategic direction, and management stability going forward.

The most recent analyst rating on (JP:3091) stock is a Buy with a Yen4385.00 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 Announces Appointment of Director Candidates

Bronco Billy Co., Ltd. has announced that its board has approved the appointment of new director candidates, signaling an upcoming change in its governance structure. Details of the nominees and specific roles will be disclosed in Japanese first, with an English version to follow, underscoring the company’s ongoing efforts to formalize leadership decisions for both domestic and international stakeholders.

The move indicates that Bronco Billy is proceeding with its regular corporate governance processes as a listed company on the TSE Prime and NSE Premier markets. While operational or strategic implications have not yet been detailed, board composition changes may influence future management decisions, compliance practices, and the company’s medium- to long-term direction once full information is released.

The most recent analyst rating on (JP:3091) stock is a Buy with a Yen4385.00 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 Sets Agenda for 44th Annual Shareholders’ Meeting

Bronco Billy Co., Ltd. has announced the convocation of its 44th Annual General Meeting of Shareholders, confirming that agenda items for the meeting have been finalized. While specific proposals were not disclosed in the brief notice, the meeting will serve as a key forum for shareholder oversight and corporate governance, and further details will be provided in the full Japanese documentation and a forthcoming English version.

The announcement underscores the company’s adherence to formal governance processes expected of firms on Japan’s prime market segments, signaling continued engagement with both domestic and international investors. Stakeholders will look to the detailed materials for clarity on any strategic, operational, or capital policy matters to be put before shareholders, which could influence Bronco Billy’s direction in the coming fiscal year.

The most recent analyst rating on (JP:3091) stock is a Buy with a Yen4385.00 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 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.