Saint Marc Holdings Co., Ltd. (3395) AI Stock Analysis

• Market Cap: ¥68.38B
• Dividend Yield: 1.95%
• Average Volume (3M): 53.73K
• Price to Earnings (P/E): 27.0
• Beta (1Y): 0.44
• Revenue Growth: 23.52%
• EPS Growth: -13.42%
• Country: JP
• Employees: 808
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Restaurants
• EPS (TTM): 38.09
• Shares Outstanding: 22,941,110
• 10 Day Avg. Volume: 52,020
• 30 Day Avg. Volume: 53,726
• PEG Ratio: 0.12
• Price to Book (P/B): 1.54
• Price to Sales (P/S): 0.67
• P/FCF Ratio: 14.77
• 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): 118.5
• Revenue Forecast (FY): ¥88.00B

• Rating: 57 Neutral
• Price Target: ¥3,172.00 ▲(17.61% Upside)
• Action: Reiterated Date: 10/23/25
• Date: Action: Reiterated 10/23/25

Saint Marc Holdings shows a positive recovery trajectory with improving financial performance, particularly in revenue and cash flow metrics. However, technical indicators present mixed signals with potential short-term volatility. The valuation suggests the stock is relatively expensive, which may limit upside potential. The absence of recent earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Cash generation & conversion

Strong free cash flow growth and cash conversion ratios indicate the business consistently turns reported earnings into cash. This durable cash generation supports store reinvestment, debt servicing and selective expansion, reducing reliance on external financing during normal cycles.

Sustained revenue growth and improving margins

Multi-year top-line growth and materially strong gross margins show the core bakery-café model retains pricing power and product margin. The move from negative to positive EBIT and rising net margins reflects operating leverage and a structural recovery in profitability that can persist with steady traffic and mix.

Improving ROE with reasonable equity cushion

ROE improvement alongside an equity ratio above 40% suggests the company is generating better returns on shareholder capital while maintaining a meaningful equity base. This combination supports long-term financial stability and gives room to leverage returns through disciplined investment.

Negative Factors

Rising leverage

Higher leverage raises refinancing and interest-rate sensitivity and reduces financial flexibility. In a sector with variable traffic and margin pressure, elevated debt heightens risk that a downturn or cost shock could strain cash flow or force curtailed investment or asset sales to meet obligations.

Low net margin despite recovery

Although margins are recovering, a low net margin provides limited buffer against rising input costs (labor, commodities, rent). Persistent single-digit net profitability constrains retained earnings for growth, makes the model sensitive to traffic declines, and requires further margin expansion for durable resilience.

Concentrated, asset-heavy revenue model

Heavy reliance on company-owned in-store sales and limited franchise/recurring fee income concentrates operational risk in Japan. This reduces scalability and exposes the company to local demand shifts, regulatory changes, and higher fixed-cost operating leverage versus an asset-light franchise model.

Saint Marc Holdings Co., Ltd. Business Overview & Revenue Model

Company Description

Saint Marc Holdings Co., Ltd., through its subsidiaries, engages in restaurant and cafe businesses in Japan. It also operates franchise chain systems. The company was founded in 1991 and is headquartered in Okayama, Japan.

How the Company Makes Money

Saint Marc Holdings generates revenue through multiple streams, primarily from its restaurant and café operations. The company earns money by selling food and beverages directly to consumers in its retail locations. Additionally, it may engage in franchise operations, allowing other entrepreneurs to operate under its brand, thus earning franchise fees and royalties. Key partnerships with suppliers and distributors also play a vital role in optimizing operational efficiency and maintaining product quality, which can enhance profitability. Seasonal promotions and limited-time offerings further drive sales, contributing to the company's overall earnings.

Saint Marc Holdings Co., Ltd. Financial Statement Overview

Summary

Saint Marc Holdings demonstrates a promising recovery with improving revenue and profitability metrics, suggesting a positive growth trajectory. The balance sheet reflects increased leverage, which could be a concern if not managed carefully, yet is offset by improved ROE and a stable equity position. Strong cash flow generation and conversion efficiencies further strengthen the company's financial health. While the company is on a positive path, maintaining momentum and managing leverage will be crucial for sustained stability and growth.

Income Statement

Saint Marc Holdings has shown a consistent increase in total revenue from 2022 to 2025, with a notable revenue growth rate of approximately 9.8% from 2024 to 2025. The gross profit margin remains strong at around 71.2% in 2025. However, while net profit margin improved significantly to 3.6% in 2025, it still reflects a recovery from previous losses in 2021 and 2022. The EBIT margin has improved to 5.1% from negative margins in 2021. The positive trajectory in revenue and profit margins indicates recovery and growth, yet margins are still relatively low compared to industry standards.

Balance Sheet

The company's debt-to-equity ratio increased to 0.75 in 2025, indicating higher leverage compared to previous years. However, the return on equity (ROE) has improved significantly to 8.2%, suggesting better profitability relative to shareholders' equity. The equity ratio stands at 43.2%, demonstrating a reasonable level of stability in terms of equity financing. While the increasing leverage could pose potential risks, the company's improving ROE and sufficient equity cushion are positive signs.

Cash Flow

Saint Marc Holdings exhibits strong cash flow management with a 15.8% growth in free cash flow from 2024 to 2025. The operating cash flow to net income ratio is robust at 2.26, indicating good cash generation relative to reported earnings. The free cash flow to net income ratio is also favorable at 1.27. These metrics suggest effective cash utilization and a solid financial position to support ongoing operations and investments. The company's strong cash flow growth and conversion rates are commendable, although past fluctuations in cash flow warrant cautious optimism.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	76.40B	70.90B	64.56B	57.83B	47.72B	43.99B
Gross Profit	54.45B	53.21B	48.89B	44.37B	37.00B	34.29B
EBITDA	7.45B	5.66B	3.87B	2.49B	1.91B	-5.57B
Net Income	1.85B	2.54B	969.52M	416.54M	-4.71B	-8.06B
Balance Sheet
Total Assets	69.35B	71.46B	49.02B	48.80B	48.02B	55.81B
Cash, Cash Equivalents and Short-Term Investments	13.85B	14.25B	16.66B	15.73B	15.64B	15.02B
Total Debt	22.56B	23.00B	6.02B	6.04B	6.05B	8.00B
Total Liabilities	38.64B	40.61B	18.87B	18.45B	16.87B	18.13B
Stockholders Equity	30.72B	30.86B	30.15B	30.35B	31.15B	37.68B
Cash Flow
Free Cash Flow	0.00	3.22B	2.78B	1.86B	4.72B	-5.70B
Operating Cash Flow	0.00	5.75B	5.07B	3.51B	5.59B	-4.16B
Investing Cash Flow	0.00	-22.75B	-2.80B	-2.15B	-990.78M	-2.37B
Financing Cash Flow	0.00	14.58B	-1.34B	-1.27B	-3.97B	6.53B

Saint Marc Holdings Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2697.00
• 50DMA: Positive
• 100DMA: Positive
• 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:3395, the sentiment is Positive. The current price of 2697 is below the 20-day moving average (MA) of 2982.05, below the 50-day MA of 2838.22, and above the 200-day MA of 2623.80, indicating a bullish trend. The MACD of 67.08 indicates Positive momentum. The RSI at 67.40 is Neutral, neither overbought nor oversold. The STOCH value of 60.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3395.

Saint Marc Holdings Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3087	70 Outperform	¥132.47B	18.69	―	2.09%	5.78%	10.26%
8153	70 Outperform	¥131.82B	29.00	―	0.70%	5.15%	47.13%
8179	66 Neutral	¥149.53B	26.66	9.66%	1.17%	8.16%	-6.01%
3197	63 Neutral	¥817.64B	48.82	9.53%	0.55%	15.58%	60.90%
3543	63 Neutral	¥135.56B	21.87	―	1.88%	16.70%	-0.37%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
3395	57 Neutral	¥68.38B	27.01	―	1.95%	23.52%	-13.42%

Saint Marc Holdings Co., Ltd. Corporate Events

Saint Marc Unit Kyoto Katsugyu Sheds 11 Stores to Sharpen Focus on Core Brand

Saint Marc Holdings said its consolidated subsidiary Kyoto Katsugyu has completed procedures to transfer the operation of 11 restaurants to ATC dining Co., as it refocuses resources on its core “Gyukatsu Kyoto Katsugyu” brand. The divested outlets span multiple concepts, including “Veji-Teji-ya,” “Tsukuneshimini Ohana,” “Yumesakaba Chiryu Uoshou Honten,” “55-ban,” “Penguin Bakery,” and “Pastrante OHANA,” and represent less than 1% of the group’s consolidated sales, indicating limited immediate financial impact but a strategic move to optimize its business portfolio.

The company characterized the assets, liabilities, and profits of the transferred division as immaterial relative to consolidated figures, underscoring that the transaction is more about strategic focus than balance sheet repair. By streamlining non-core operations and concentrating management resources on its flagship beef cutlet chain, Saint Marc aims to accelerate growth and enhance brand value in a competitive foodservice market, while ATC dining, backed by ASAHITEC Corporation, expands its restaurant footprint.

The most recent analyst rating on (JP:3395) stock is a Hold with a Yen3244.00 price target. To see the full list of analyst forecasts on Saint Marc Holdings Co., Ltd. stock, see the JP:3395 Stock Forecast page.

Saint Marc Holdings Delivers Strong Revenue Growth but Slight EPS Decline in Nine-Month Results

Saint Marc Holdings reported strong top-line growth for the nine months ended December 31, 2025, with net sales climbing 33.2% year on year to ¥65.98 billion, while operating profit jumped 55.1% and ordinary profit rose 39.6%. Despite this, profit attributable to owners of parent edged down 2.7% to ¥1.87 billion as higher share count diluted earnings per share to ¥86.31. The balance sheet remained solid, with total assets of ¥69.13 billion and an equity ratio of 44.3%, and the company maintained its shareholder returns stance, confirming an interim dividend of ¥26 per share and a full-year dividend forecast of ¥52 per share. For the full fiscal year ending March 31, 2026, the company forecasts continued robust revenue and profit growth, projecting net sales of ¥88 billion and operating profit of ¥5 billion, even as it anticipates a year-on-year decline in bottom-line profit attributable to owners due to prior-period comparatives and capital structure effects, signaling a focus on expanding operations while sustaining stable returns to shareholders.

The most recent analyst rating on (JP:3395) stock is a Hold with a Yen2850.00 price target. To see the full list of analyst forecasts on Saint Marc Holdings Co., Ltd. stock, see the JP:3395 Stock Forecast page.

Saint Marc Holdings Completes Treasury Share Disposal for Restricted Stock Compensation

Saint Marc Holdings has completed the payment procedures for the disposal of 10,384 treasury shares as part of its restricted stock compensation plan, following a resolution by its Board of Directors on November 18, 2025. The shares, priced at 2,580 yen each for a total value of 26.79 million yen, were allocated to 9 employees of the company and 98 employees of its subsidiaries, reinforcing its stock-based incentive scheme aimed at aligning employee interests with long-term corporate performance and shareholder value.

The most recent analyst rating on (JP:3395) stock is a Hold with a Yen2814.00 price target. To see the full list of analyst forecasts on Saint Marc Holdings Co., Ltd. stock, see the JP:3395 Stock Forecast page.