Treasure Factory Co., Ltd. (3093) AI Stock Analysis

• Market Cap: ¥40.76B
• Dividend Yield: 2.19%
• Average Volume (3M): 224.71K
• Price to Earnings (P/E): 13.3
• Beta (1Y): 0.59
• Revenue Growth: 17.90%
• EPS Growth: 14.14%
• Country: JP
• Employees: 1,125
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): 10.23
• Shares Outstanding: 24,347,800
• 10 Day Avg. Volume: 364,910
• 30 Day Avg. Volume: 224,706
• PEG Ratio: 0.66
• Price to Book (P/B): 3.55
• Price to Sales (P/S): 0.88
• P/FCF Ratio: 24.72
• 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: 65 Neutral
• Price Target: ¥1,905.00 ▲(13.87% Upside)

Treasure Factory Co., Ltd. shows strong financial performance with robust revenue growth and profitability, which is a key strength. However, the technical analysis indicates bearish momentum, which negatively impacts the short-term outlook. The valuation is reasonable, offering a balanced risk-reward profile. The absence of recent earnings call insights or notable corporate events limits further assessment.

Positive Factors

Revenue Growth

Sustained 22.5% year-on-year revenue growth signals expanding customer adoption and effective store or channel expansion. Over 2-6 months this underpins durable topline momentum, enabling reinvestment in stores, inventory and operations to capture structural reuse and sustainability demand.

Margin Strength

A 59% gross margin shows strong merchandising economics in pre-owned goods and pricing power; improving net margin reflects better cost control. These margin levels provide a persistent profitability buffer, supporting cash generation and resilience through economic cycles.

Capital Structure & Profitability

Manageable leverage and a 50% equity ratio alongside a 26% ROE indicate efficient use of capital and balance sheet flexibility. This structural financial health supports funded expansion, inventory purchasing and cushions against shocks over the medium term.

Negative Factors

Moderate Operating Margins

Despite high gross margins, mid-single-digit EBIT and low-double-digit EBITDA margins imply limited operating leverage and relatively high SG&A or operating costs. Persistently moderate operating margins constrain free cash flow upside and profitability expansion without efficiency gains.

Cash Flow Volatility

While 2025 showed strong free cash flow and OCF conversion >1, prior year fluctuations highlight inconsistency in cash conversion. Variable cash flows make multi-period planning for capex, store rollouts and inventory funding less predictable, raising execution risk.

Limited Public Disclosure

A lack of recent earnings call detail or material corporate events reduces transparency on strategy, capital allocation and risk management. Over months this limited disclosure hinders investor visibility into management's execution and long-term strategic priorities.

Treasure Factory Co., Ltd. Business Overview & Revenue Model

Company Description

Treasure Factory Co.,LTD. operates reuse stores in Japan. It also purchases and sells reuse items through online; and operates Cariru for renting brand-name bags and accessories, as well as provides treasure factory moving services. As of February 29, 2022, it had approximately 220 stores. The company was incorporated in 1995 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Treasure Factory Co., Ltd. generates revenue primarily through the sale of second-hand merchandise. The company acquires inventory by purchasing used items from individuals and businesses, which are then resold at its retail locations and via its e-commerce site. Treasure Factory's revenue streams include direct sales from its physical stores and online sales, which are bolstered by the company's strategic pricing and wide product range. Additionally, the company may engage in partnerships or collaborations with other businesses to enhance its product offerings and expand its market reach. Factors contributing to its earnings include its focus on sustainability, growing consumer interest in second-hand shopping, and the convenience of its online shopping platform.

Treasure Factory Co., Ltd. Financial Statement Overview

Summary

Treasure Factory Co., Ltd. exhibits strong financial health with robust revenue growth and profitability improvements. The company's balance sheet reflects stable leverage and effective asset management, while cash flow generation has significantly improved. Continued focus on operational efficiencies and cash flow consistency will further enhance financial performance.

Income Statement

Treasure Factory Co., Ltd. has demonstrated strong revenue growth with a 22.5% increase from 2024 to 2025, showing resilience and market expansion in the specialty retail sector. The gross profit margin for 2025 stands at 59%, indicating effective cost management and a solid pricing strategy. The net profit margin improved to 6.42%, reflecting enhanced profitability. However, the EBIT and EBITDA margins are relatively moderate at 9.56% and 11.27% respectively, suggesting room for operational efficiency improvements.

Balance Sheet

The company maintains a stable financial structure with a debt-to-equity ratio of 0.54, indicating manageable leverage levels. The return on equity (ROE) improved to 26%, highlighting effective use of equity capital to generate profits. The equity ratio is favorable at 50%, showcasing a balanced asset financing strategy. Despite these strengths, the company should monitor debt levels to ensure sustained financial health.

Cash Flow

Treasure Factory Co., Ltd. generated substantial free cash flow in 2025, with a noticeable improvement in free cash flow growth, reflecting stronger cash generation capabilities. The operating cash flow to net income ratio is 1.04, indicating efficient conversion of profits into cash. However, fluctuations in previous years' cash flow metrics suggest a need for consistent cash flow management to support long-term growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	45.05B	42.21B	34.45B	28.21B	23.31B	18.74B
Gross Profit	26.58B	24.93B	20.87B	17.40B	14.23B	11.37B
EBITDA	4.91B	4.76B	3.89B	2.90B	1.21B	347.87M
Net Income	2.80B	2.71B	2.24B	1.71B	703.47M	-134.97M
Balance Sheet
Total Assets	22.30B	20.83B	17.73B	14.66B	11.81B	10.42B
Cash, Cash Equivalents and Short-Term Investments	2.54B	3.01B	2.62B	3.07B	2.36B	1.99B
Total Debt	6.25B	5.62B	5.39B	4.23B	4.34B	3.79B
Total Liabilities	10.94B	10.33B	9.20B	7.84B	6.91B	6.11B
Stockholders Equity	11.24B	10.42B	8.48B	6.80B	4.88B	4.28B
Cash Flow
Free Cash Flow	0.00	1.50B	-31.00M	980.61M	273.22M	181.96M
Operating Cash Flow	0.00	2.82B	1.00B	1.76B	870.49M	482.42M
Investing Cash Flow	0.00	-1.88B	-1.91B	-1.12B	-732.24M	-586.27M
Financing Cash Flow	0.00	-539.00M	431.00M	56.00M	274.83M	422.44M

Treasure Factory Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1673.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3093, the sentiment is Negative. The current price of 1673 is below the 20-day moving average (MA) of 1745.10, below the 50-day MA of 1686.42, and below the 200-day MA of 1794.45, indicating a neutral trend. The MACD of 5.89 indicates Positive momentum. The RSI at 45.54 is Neutral, neither overbought nor oversold. The STOCH value of 17.13 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3093.

Treasure Factory Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3964	81 Outperform	¥98.26B	17.34	―	2.24%	22.22%	26.29%
2674	74 Outperform	¥28.20B	12.73	―	3.77%	7.88%	-5.92%
2681	69 Neutral	¥72.37B	14.63	―	1.81%	6.48%	-38.41%
3093	65 Neutral	¥40.76B	13.30	―	2.19%	17.90%	14.14%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
9270	59 Neutral	¥24.82B	12.51	―	0.95%	4.14%	―

Treasure Factory Co., Ltd. Corporate Events

Treasure Factory Delivers Record Nine-Month Earnings on Inflation-Driven Reuse Demand

Treasure Factory Co., Ltd. reported strong results for the nine months ended November 30, 2025, with existing-store sales growth of 4.8% year on year and non-consolidated existing stores posting year-on-year sales gains for 51 consecutive months. Transaction volume rose 5.1% while average spending per sale remained essentially flat, reflecting robust consumer demand for reuse items amid inflation and the success of promotions focused on low-priced products. Net sales climbed 15.3% year on year to ¥35.1 billion and operating profit increased 12.2% to ¥3.3 billion, with both metrics reaching record highs for the first nine months of a fiscal year. The company also advanced its physical expansion, opening 28 new stores in the period and finalizing plans to open a total of 32 stores in the current fiscal year, underscoring its growth strategy and strengthening its position in the reuse retail market.

The most recent analyst rating on (JP:3093) stock is a Hold with a Yen1871.00 price target. To see the full list of analyst forecasts on Treasure Factory Co., Ltd. stock, see the JP:3093 Stock Forecast page.

Treasure Factory Delivers Double-Digit Profit Growth and Lifts Dividend Outlook

Treasure Factory Co., Ltd. reported solid growth for the nine months ended November 30, 2025, with net sales rising 15.3% year-on-year to ¥35.2 billion and profit attributable to owners of parent increasing 14.7% to ¥2.25 billion, while maintaining a healthy balance sheet with total assets of ¥24.6 billion and an equity ratio of 47.9%. The company plans to raise its full-year dividend to ¥39.00 per share, up from ¥36.00 in the previous year, and reaffirmed its earnings outlook for the fiscal year ending February 28, 2026, projecting a 9.6% increase in net sales and an 11.0% rise in profit attributable to owners of parent, signaling continued confidence in its growth trajectory and shareholder returns despite a slight decline in its equity capital ratio.

The most recent analyst rating on (JP:3093) stock is a Hold with a Yen1871.00 price target. To see the full list of analyst forecasts on Treasure Factory Co., Ltd. stock, see the JP:3093 Stock Forecast page.

Treasure Factory Digitizes Shareholder Perks via Trefac App to Boost Convenience and Cut Costs

Treasure Factory Co., Ltd. has approved a digital transformation of its shareholder benefit program, shifting from paper-based coupons to app-based points and coupons via its Trefac App starting with shareholders of record at the end of February 2026. Under the revised scheme, shareholders holding at least 100 shares will receive shopping discount points called “Trepo” (1 point = 1 yen) instead of physical discount coupons, with 1,000 yen-equivalent points for 100–399 shares and 2,000 yen-equivalent for 400 shares or more, redeemable both in-store and online without a minimum spend and with validity effectively extended through integration with regular customer benefits; buyback price increase coupons of 20% remain unchanged. The move is designed to enhance convenience and provide a seamless digital user experience for shareholders while cutting costs and reducing environmental impact through paperless operations, reinforcing Treasure Factory’s broader push toward digitalization and potentially strengthening shareholder engagement and loyalty.

The most recent analyst rating on (JP:3093) stock is a Hold with a Yen1701.00 price target. To see the full list of analyst forecasts on Treasure Factory Co., Ltd. stock, see the JP:3093 Stock Forecast page.

Treasure Factory Delivers Record Sales and Profit as Inflation Fuels Reuse Demand

Treasure Factory reported strong results for the nine months ended November 30, 2025, with existing-store sales up 4.8% year on year and non-consolidated existing stores achieving year-on-year sales growth for 51 consecutive months since September 2021. Driven by inflation-boosted demand for reuse items and effective promotions of low-priced products, the number of sales rose to 105.1% year on year while average transaction value remained stable, lifting net sales to a record 35.1 billion yen and operating profit to a record 3.3 billion yen, both more than 10% higher than the previous year. The company is also progressing well with its expansion strategy, opening 28 new stores in the first nine months and finalizing plans to reach a total of 32 openings in the full fiscal year, reinforcing its growth trajectory and positioning in the reuse retail market.

The most recent analyst rating on (JP:3093) stock is a Hold with a Yen1701.00 price target. To see the full list of analyst forecasts on Treasure Factory Co., Ltd. stock, see the JP:3093 Stock Forecast page.

Treasure Factory Posts Solid Nine-Month Profit Growth and Confirms Full-Year Forecasts

Treasure Factory Co., Ltd. reported strong consolidated results for the nine months ended November 30, 2025, with net sales rising 15.3% year-on-year to ¥35.2 billion and profit attributable to owners of parent up 14.7% to ¥2.25 billion, reflecting continued growth in its reuse-focused retail operations. The company’s total assets and shareholders’ equity both increased, while the equity ratio remained robust just under 50%, and management maintained its full-year earnings and dividend forecasts, signaling confidence in sustaining profit growth and shareholder returns despite a moderating rate of expansion compared with the previous fiscal year.

The most recent analyst rating on (JP:3093) stock is a Hold with a Yen1701.00 price target. To see the full list of analyst forecasts on Treasure Factory Co., Ltd. stock, see the JP:3093 Stock Forecast page.

Treasure Factory Extends 52-Month Growth Streak as Winter Demand Lifts December Sales

Treasure Factory reported that December 2025 non-consolidated net sales rose 12.3% year on year for all stores and 3.4% for existing stores, marking the 52nd consecutive month of existing-store sales growth despite having one fewer weekend and holiday than a year earlier. Strong demand for winter clothing amid a late-month temperature drop, along with continued growth in fashion accessories, hobby goods, and sports and outdoor categories, underpinned the solid performance, while network adjustments continued with two new fashion and brand stores opening and one fashion store closing due to a fixed-term lease expiry, bringing the total store count to 234.

The most recent analyst rating on (JP:3093) stock is a Hold with a Yen1946.00 price target. To see the full list of analyst forecasts on Treasure Factory Co., Ltd. stock, see the JP:3093 Stock Forecast page.

Treasure Factory Reports Strong November Sales and Expands Store Network

Treasure Factory Co., Ltd. reported a strong performance in November 2025, with net sales increasing by 115.2% year-on-year for all stores and 105.7% for existing stores. This marks the 51st consecutive month of growth in existing store sales, driven by increased demand for winter clothing and continued growth in fashion accessories, hobby goods, and sports and outdoor products. The company also expanded its footprint with the opening of four new stores in November, indicating a strategic push to strengthen its market presence.

The most recent analyst rating on (JP:3093) stock is a Hold with a Yen1946.00 price target. To see the full list of analyst forecasts on Treasure Factory Co., Ltd. stock, see the JP:3093 Stock Forecast page.

Treasure Factory Reports Strong October Sales and Strategic Store Expansion

In October 2025, Treasure Factory Co., Ltd. reported a significant increase in net sales, with all stores achieving 115.9% and existing stores 106.6% compared to the previous year. This growth was driven by strong sales of autumn and winter clothing, increased demand for fashion goods, and continued interest in hobby and outdoor products. The company also opened three new stores while closing one, indicating a strategic expansion and consolidation of its retail presence.

The most recent analyst rating on (JP:3093) stock is a Hold with a Yen1946.00 price target. To see the full list of analyst forecasts on Treasure Factory Co., Ltd. stock, see the JP:3093 Stock Forecast page.

Treasure Factory Co., Ltd. Reports Strong Sales Growth and Expands Internationally

Treasure Factory Co., Ltd. reported a 104.3% year-on-year increase in existing-store sales for the six months ended August 31, 2025, driven by a commemorative campaign and steady sales in September. Despite a decline in profit margins due to low-margin merchandise and increased SG&A expenses from new store openings, the company plans to continue its expansion strategy with a focus on quality over quantity. The company is also advancing its international expansion, with plans to open a third store in Taiwan and develop stores in the U.S., leveraging its strengths in data analysis and customer service to meet regional needs.

The most recent analyst rating on (JP:3093) stock is a Hold with a Yen1946.00 price target. To see the full list of analyst forecasts on Treasure Factory Co., Ltd. stock, see the JP:3093 Stock Forecast page.