General Oyster, Inc. (3224) AI Stock Analysis

• Market Cap: ¥4.30B
• Dividend Yield: 1.24%
• Average Volume (3M): 16.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.65
• Revenue Growth: 8.52%
• EPS Growth: 51.65%
• Country: JP
• Employees: 111
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Restaurants
• EPS (TTM): 11.54
• Shares Outstanding: 5,119,600
• 10 Day Avg. Volume: 40,310
• 30 Day Avg. Volume: 16,290
• PEG Ratio: 2.18
• Price to Book (P/B): 2.54
• Price to Sales (P/S): 0.91
• P/FCF Ratio: -40.84
• 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: 60 Neutral
• Price Target: ¥918.00 ▲(47.12% Upside)
• Action: Reiterated Date: 12/26/25
• Date: Action: Reiterated 12/26/25

The score is primarily supported by improving but still mixed financials (strong gross margin and a stable balance sheet, but continued net losses and negative free cash flow). Technicals are bullish on trend but look overbought, while valuation is constrained by negative earnings despite a modest dividend yield.

Positive Factors

Sustainable Business Model

The company's focus on sustainable practices aligns with increasing consumer demand for environmentally responsible products, supporting long-term growth and brand loyalty.

Strong Gross Margin

A strong gross margin indicates effective cost management and pricing power, which can support profitability as the company scales.

Revenue Growth

Consistent revenue growth suggests expanding market reach and product adoption, which are crucial for long-term business sustainability.

Negative Factors

Negative Net Margin

A negative net margin indicates ongoing challenges in achieving profitability, which could hinder financial flexibility and investment capacity.

Negative Free Cash Flow

Negative free cash flow reflects cash constraints, potentially limiting the company's ability to invest in growth opportunities and manage debt.

Low EBIT Margin

A low EBIT margin indicates limited operational efficiency, which may affect the company's ability to generate sustainable profits and compete effectively.

General Oyster, Inc. Business Overview & Revenue Model

Company Description

General Oyster, Inc., through its subsidiaries, operates in the food and beverage business in Japan. It also engages in the processing and wholesale of oysters; and marine aquaculture, land-based aquaculture, and purification and logistics businesses. The company also operates a chain of restaurants under the Gumbo & Oyster Bar brand. General Oyster, Inc. was incorporated in 2000 and is headquartered in Tokyo, Japan.

How the Company Makes Money

General Oyster, Inc. generates revenue through multiple streams, primarily from the sale of oysters and other shellfish to wholesalers, retailers, and food service providers. The company has established partnerships with seafood distributors and restaurants, enabling it to reach a broader customer base. Additionally, General Oyster, Inc. engages in direct-to-consumer sales through online platforms, capitalizing on the trend of home delivery services for fresh seafood. The company's revenue model is also supported by its commitment to sustainability, allowing it to attract environmentally conscious consumers willing to pay a premium for responsibly sourced products.

General Oyster, Inc. Financial Statement Overview

Summary

Solid gross margin (~65%) and a stable balance sheet with low leverage (debt-to-equity 0.26) and healthy equity ratio (42.3%). However, profitability remains weak with a negative net margin (-5.3% in 2025) and very low EBIT margin (0.09%), and free cash flow is still negative despite improvement.

Income Statement

General Oyster, Inc. demonstrates a mixed performance on the income statement. The company shows a solid gross profit margin of approximately 65.3% for 2025, indicating efficient cost management. However, the net profit margin is negative, reflecting ongoing net losses, although there is an improvement from -25.2% in 2024 to -5.3% in 2025. Revenue growth is modest at 3.6% from 2024 to 2025, but the EBIT margin remains low at 0.09%, suggesting limited operational profitability.

Balance Sheet

The balance sheet of General Oyster, Inc. is showing signs of stability with a debt-to-equity ratio of 0.26 in 2025, reflecting a manageable leverage level. The company's equity ratio is healthy at 42.3%, indicating a solid financial foundation. Return on equity remains a concern due to negative net income, but the company has improved its stockholders' equity position significantly over the years.

Cash Flow

The cash flow statement highlights some challenges, with a negative free cash flow of -87.75 million in 2025, although there is a significant improvement from 2024. The operating cash flow to net income ratio is not favorable due to persistent losses, but improvements in operating cash flow, which turned positive in 2025, are encouraging.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	3.78B	3.93B	3.79B	3.76B	2.54B	2.34B
Gross Profit	2.51B	2.56B	2.48B	2.38B	1.62B	1.51B
EBITDA	20.98M	60.97M	-24.22M	175.98M	394.14M	-574.32M
Net Income	-55.30M	-20.83M	-95.47M	138.10M	287.41M	-641.49M
Balance Sheet
Total Assets	3.21B	3.34B	2.24B	2.39B	2.29B	1.52B
Cash, Cash Equivalents and Short-Term Investments	956.76M	1.22B	855.73M	1.33B	1.27B	541.06M
Total Debt	350.01M	370.01M	454.92M	522.05M	577.00M	914.56M
Total Liabilities	1.87B	1.93B	1.33B	1.37B	1.39B	1.63B
Stockholders Equity	1.34B	1.41B	935.91M	1.03B	887.78M	-142.64M
Cash Flow
Free Cash Flow	0.00	-87.75M	-354.28M	148.30M	327.58M	-313.74M
Operating Cash Flow	0.00	128.59M	-99.60M	218.81M	376.16M	-305.51M
Investing Cash Flow	0.00	-237.29M	-313.83M	-105.86M	-42.39M	-6.77M
Financing Cash Flow	0.00	473.45M	-65.13M	-51.45M	397.96M	729.72M

General Oyster, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 624.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3224, the sentiment is Positive. The current price of 624 is below the 20-day moving average (MA) of 839.40, below the 50-day MA of 838.20, and below the 200-day MA of 715.08, indicating a bullish trend. The MACD of 3.50 indicates Positive momentum. The RSI at 54.95 is Neutral, neither overbought nor oversold. The STOCH value of 85.40 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3224.

General Oyster, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9828	72 Outperform	¥53.31B	11.26	―	2.41%	6.49%	4.27%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
3198	60 Neutral	¥49.87B	43.77	―	1.30%	2.90%	-26.37%
3224	60 Neutral	¥4.30B	-55.33	―	1.24%	8.52%	51.65%
2695	58 Neutral	¥148.12B	41.16	―	0.63%	4.32%	11.78%
3196	46 Neutral	¥42.27B	102.38	―	0.62%	13.05%	-29.04%
9973	43 Neutral	¥7.95B	-10.63	―	―	8.93%	-10.94%