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

• Market Cap: ¥67.07B
• Dividend Yield: 1.95%
• Average Volume (3M): 53.73K
• Price to Earnings (P/E): 17.6
• Beta (1Y): 0.43
• 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

Revenue recovery and growth

Consistent top-line growth (≈9.8% YoY to 2025) indicates expanding demand and effective execution across brands. Sustained revenue gains help amortize fixed store costs, support scale economics, fund reinvestment in product and locations, and underpin longer-term margin improvement.

Strong cash flow conversion

Robust cash generation (15.8% FCF growth and OCF/net income of 2.26) shows high conversion of accounting profits into cash. Durable cash flow supports capex for selective openings, debt servicing, and strategic flexibility to weather industry cycles without immediate dilution or asset sales.

Improving ROE with reasonable equity base

ROE rising to 8.2% alongside a 43.2% equity ratio suggests management is delivering better returns while retaining a meaningful equity cushion. This balance of profitability improvement and capital stability supports sustainable shareholder value creation if margins continue to firm.

Negative Factors

Rising financial leverage

Debt/equity rising to 0.75 increases fixed financing obligations and interest sensitivity. Higher leverage reduces financial flexibility, heightens refinancing and covenant risk, and can force trade-offs between investment and deleveraging if revenue or margin trends reverse over the medium term.

Low absolute net margins

Net margin still only 3.6% despite recovery, and past losses show earnings volatility. Low absolute margins provide a limited buffer against input inflation or demand shocks, requiring sustained revenue improvement or structural cost reduction to achieve durable, industry-competitive profitability.

Operational exposure to store-level costs

Business depends on company-owned/franchised stores and store-level drivers (traffic, pricing, labor, rent, ingredients). This structural exposure makes earnings sensitive to local demand swings and cost inflation, requiring persistent pricing power or efficiency gains to protect margins long term.

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

The company makes money mainly by operating company-owned and, where applicable, franchised restaurant/café stores under its portfolio of brands. Its core revenue stream is foodservice sales to end customers, including (1) in-store dining and (2) takeout sales of menu items such as bread/bakery products, meals, beverages, and desserts (specific menu mix varies by brand/store format). Depending on the group’s store strategy, revenue may also be generated from franchise-related income (e.g., franchise fees and royalties) and other brand/operations-related income at the holding-company level (e.g., management/administrative service fees charged to subsidiaries); if these streams are not used in certain periods, they would be immaterial. Key earnings drivers typically include same-store sales performance, customer traffic, pricing and product mix, expansion or optimization of the store network, and cost control (ingredients, labor, rent). Information on significant partnerships: null.

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	53.41B	50.08B	46.59B	42.11B	34.60B	31.34B
EBITDA	7.38B	6.77B	4.93B	2.49B	-1.19B	-282.83M
Net Income	1.85B	2.54B	969.52M	416.54M	-4.71B	-8.06B
Balance Sheet
Total Assets	69.35B	71.46B	49.43B	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	19.28B	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	2.80B	1.88B	4.73B	-5.62B
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: Neutral
• 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 Neutral. The current price of 2697 is below the 20-day moving average (MA) of 3095.75, below the 50-day MA of 2965.56, and above the 200-day MA of 2673.96, indicating a neutral trend. The MACD of 35.74 indicates Positive momentum. The RSI at 50.83 is Neutral, neither overbought nor oversold. The STOCH value of 40.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	¥129.11B	14.74	―	2.09%	5.78%	10.26%
8153	70 Outperform	¥130.43B	20.09	―	0.70%	5.15%	47.13%
8179	66 Neutral	¥138.11B	22.93	9.66%	1.17%	8.16%	-6.01%
3197	63 Neutral	¥760.31B	45.71	9.53%	0.55%	15.58%	60.90%
3543	63 Neutral	¥136.62B	22.64	―	1.88%	16.70%	-0.37%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
3395	57 Neutral	¥67.07B	17.62	―	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.