Mugen Estate Co., Ltd. (JP:3299)
:3299
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Mugen Estate Co., Ltd.
(3299)
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Rating:63Neutral
Price Target:
¥1,954.00
▲(4.77% Upside)
Action:Reiterated
Date:05/16/26
The score is supported by very attractive valuation (low P/E and high dividend yield) and strong recent profitability, but it is held back by weak cash-flow conversion (negative OCF/FCF in 2025), rising leverage, and clearly bearish technical momentum with the stock trading below all major moving averages.
Positive Factors
Revenue & margin recovery
A multi-year rebound in revenue and materially higher gross and net margins indicates the core resale/renovation model is scaling profitably. Sustained EBIT margin (~16% in 2025) shows operational leverage and margin resilience, supporting durable earnings capacity across typical housing cycles.
Negative Factors
Rising leverage and debt
Material increase in debt and leverage reduces financial flexibility and raises refinancing and interest-rate risk. Higher debt amplifies downside in a property downturn, constrains balance-sheet maneuverability, and can pressure margins and covenant headroom over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & margin recovery
A multi-year rebound in revenue and materially higher gross and net margins indicates the core resale/renovation model is scaling profitably. Sustained EBIT margin (~16% in 2025) shows operational leverage and margin resilience, supporting durable earnings capacity across typical housing cycles.
Read all positive factors
Mugen Estate Co., Ltd. (3299) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥41.75B
Dividend Yield6.02%
Average Volume (3M)98.55K
Price to Earnings (P/E)7.7
Beta (1Y)0.98
Revenue Growth-5.07%
EPS Growth-26.79%
CountryJP
Employees466
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)272.07
Shares Outstanding24,361,000
10 Day Avg. Volume88,690
30 Day Avg. Volume98,553
Financial Highlights & Ratios
PEG Ratio0.66
Price to Book (P/B)1.22
Price to Sales (P/S)0.64
P/FCF Ratio-4.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)322.3
Revenue Forecast (FY)¥95.50B
Mugen Estate Co., Ltd. Business Overview & Revenue Model
Company Description
MUGEN ESTATE Co.,Ltd. purchases and resells used real estate properties in Japan. It operates through Real Estate Trading Business, and Real Estate Leasing and Other Business segments. The company's property portfolio includes residential-type and...
How the Company Makes Money
The company primarily makes money through a value-add real estate resale model. It purchases pre-owned residential properties (inventory), invests in refurbishment/renovation and repositioning, and then sells the properties; revenue is recognized ...
Mugen Estate Co., Ltd. Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
63
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 63.63B | 68.26B | 62.19B | 51.64B | 31.24B | 33.96B |
| Gross Profit | 17.32B | 18.28B | 16.57B | 11.41B | 7.15B | 5.79B |
| EBITDA | 10.98B | 11.94B | 10.45B | 6.68B | 3.66B | 2.98B |
| Net Income | 6.34B | 6.66B | 6.09B | 3.65B | 1.56B | 1.28B |
Balance Sheet | ||||||
| Total Assets | 91.96B | 106.70B | 87.50B | 80.36B | 77.45B | 62.78B |
| Cash, Cash Equivalents and Short-Term Investments | 22.08B | 20.72B | 22.02B | 20.42B | 17.75B | 17.57B |
| Total Debt | 52.37B | 62.74B | 48.82B | 47.65B | 49.31B | 36.86B |
| Total Liabilities | 58.72B | 70.89B | 55.43B | 52.52B | 52.84B | 39.23B |
| Stockholders Equity | 33.24B | 35.80B | 32.08B | 27.84B | 24.60B | 23.55B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -10.58B | 2.42B | 4.86B | -11.65B | 2.13B |
| Operating Cash Flow | 0.00 | -6.76B | 2.60B | 5.37B | -11.49B | 3.31B |
| Investing Cash Flow | 0.00 | -4.97B | -312.00M | -498.00M | -157.00M | -1.22B |
| Financing Cash Flow | 0.00 | 10.40B | -825.00M | -2.15B | 11.85B | -621.00M |
Mugen Estate Co., Ltd. Technical Analysis
Negative
1865.00
Price Trends
2164.44
Negative
2184.48
Negative
2059.65
Negative
Market Momentum
-142.05
Positive
16.81
Positive
18.50
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3299, the sentiment is Negative. The current price of 1865 is below the 20-day moving average (MA) of 1969.50, below the 50-day MA of 2164.44, and below the 200-day MA of 2059.65, indicating a bearish trend. The MACD of -142.05 indicates Positive momentum. The RSI at 16.81 is Positive, neither overbought nor oversold. The STOCH value of 18.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3299.
Mugen Estate Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | ¥41.75B | 7.74 | ― | 6.02% | -5.07% | -26.79% | |
62 Neutral | ¥2.84T | 7.65 | 11.39% | 2.93% | 2.61% | 10.15% | |
59 Neutral | ¥6.18B | 12.20 | 2.90% | 4.53% | -12.48% | -34.07% | |
59 Neutral | ¥11.10B | 6.33 | ― | 2.26% | 16.09% | 31.59% | |
58 Neutral | ¥121.60B | 20.27 | 4.48% | 3.30% | 3.93% | 16.91% | |
56 Neutral | ¥55.61B | 11.83 | 6.98% | 7.35% | 9.08% | -42.76% |
* Real Estate Sector Average
JP:3299
Mugen Estate Co., Ltd.
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Mugen Estate Co., Ltd. Corporate Events
Mugen Estate Q1 Profit Slumps but Full-Year Outlook and Dividend Hike Intact
May 15, 2026
Mugen Estate reported a sharp year-on-year downturn for the first quarter ended March 31, 2026, with net sales falling 27% to ¥12.52 billion and profit attributable to owners of the parent plunging 75.5% to ¥440 million, while its equity...
Mugen Estate Grants ¥198 Million in Restricted Stock to Directors and Officers
Mar 26, 2026
Mugen Estate Co., Ltd. has approved the disposal of 85,800 treasury shares as restricted stock compensation, valued at ¥2,313 per share for a total of about ¥198 million, to three directors and seven executive officers. The move extends ...
Mugen Estate Details Controlling Shareholder Structure and Safeguards for Minority Investors
Mar 26, 2026
Mugen Estate Co., Ltd. has disclosed the status of its controlling shareholder, identifying chairman and representative director Susumu Fujita as a controlling shareholder with a combined 55.82% of voting rights when including shares held by close...
Mugen Estate Reviews Board Effectiveness, Targets Stronger Governance and Director Training
Mar 13, 2026
Mugen Estate has completed an effectiveness assessment of its Board of Directors for the fiscal year ended December 2025, in line with the Tokyo Stock Exchange’s Corporate Governance Code. Using an anonymous questionnaire of all directors an...
Mugen Estate Revamps Board and Audit Lineup Ahead of 2026 Shareholders’ Meeting
Feb 20, 2026
Mugen Estate Co., Ltd. has announced a refreshed leadership slate, proposing the reappointment of Chairman Susumu Fujita and President Shinichi Fujita as representative directors, alongside outside directors Masashi Nitta, Kengo Maekawa and Sachik...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.