Maruo Calcium Co., Ltd. (4102) AI Stock Analysis

• Market Cap: ¥3.27B
• Dividend Yield: 2.12%
• Average Volume (3M): 500.00
• Price to Earnings (P/E): 16.0
• Beta (1Y): 0.03
• Revenue Growth: -5.18%
• EPS Growth: 4.52%
• Country: JP
• Employees: 272
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals
• EPS (TTM): 42.60
• Shares Outstanding: 2,355,200
• 10 Day Avg. Volume: 450
• 30 Day Avg. Volume: 500
• PEG Ratio: -0.50
• Price to Book (P/B): 0.30
• Price to Sales (P/S): 0.23
• P/FCF Ratio: -4.77
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 62 Neutral
• Price Target: ¥1,454.00 ▲(2.18% Upside)
• Action: Reiterated Date: 10/28/25
• Date: Action: Reiterated 10/28/25

The overall stock score reflects a stable financial performance with strong equity support, but challenges in profitability and free cash flow. The technical indicators suggest a neutral to slightly bearish trend, and the high P/E ratio indicates potential overvaluation. The dividend yield offers some compensation for the valuation concerns.

Positive Factors

Strong Equity Support

A robust equity base provides financial stability and flexibility, allowing Maruo Calcium to invest in growth opportunities and withstand economic fluctuations.

Prudent Leverage Management

Conservative leverage management reduces financial risk and interest burden, enhancing the company's ability to sustain operations and pursue strategic initiatives.

Consistent Revenue Generation

Stable revenue generation reflects a reliable business model and demand for products, supporting long-term growth and operational planning.

Negative Factors

Declining Net Income

A decline in net income can indicate challenges in cost management or pricing power, potentially impacting future profitability and investment capacity.

Fluctuating Free Cash Flow

Significant fluctuations in free cash flow can strain liquidity and limit the company's ability to fund new projects or return capital to shareholders.

Revenue Decline

A decline in revenue growth can signal weakening demand or competitive pressures, potentially affecting market share and long-term financial performance.

Maruo Calcium Co., Ltd. Business Overview & Revenue Model

Company Description

Maruo Calcium Co., Ltd. manufactures and sells various calcium carbonate and other industrial raw materials in Japan. Its products include various type of colloidal calcium carbonates; light calcium carbonates; ground calcium carbonates; food-additive calcium carbonates; animal feeds; hydrated and quick lime; wet silica products; and minerals, including talc, clay, and silica powder. The company also imports and distributes wet silica products. Its products are used in sealants/adhesives/plastisols, films, plastics, paints, inks, rubber, food additives, and other applications. The company was formerly known as Maruo Seifun Goshi Company and changed its name to Maruo Calcium Co., Ltd. in August 1963. Maruo Calcium Co., Ltd. was founded in 1926 and is based in Akashi, Japan.

How the Company Makes Money

Maruo Calcium generates revenue primarily through the sale of its calcium carbonate products to a wide range of industries. Its revenue model is based on direct sales to manufacturers and distributors, with key revenue streams coming from long-term contracts with major clients in the plastic and paper sectors. The company also benefits from strategic partnerships with other chemical manufacturers, allowing for collaborative product development and access to new markets. Additionally, Maruo Calcium's focus on research and development enables it to innovate and create specialized products, which can command higher prices and enhance profitability.

Maruo Calcium Co., Ltd. Financial Statement Overview

Summary

Maruo Calcium Co., Ltd. presents a generally stable financial position with consistent revenue and strong equity support. The company demonstrates prudent leverage management, though profitability and free cash flow require enhancement to ensure sustained growth and financial flexibility.

Income Statement

Maruo Calcium Co., Ltd. has shown stable revenue generation with minor fluctuations over the years. The gross profit margin has been consistent, indicating effective cost management. However, there is a noticeable decline in net income across the recent periods. The company maintains a moderate EBIT margin, but the decreasing net profit margin suggests pressure on profitability.

Balance Sheet

The company maintains a healthy balance sheet with a strong equity base. The debt-to-equity ratio is low, indicating conservative leverage usage. The equity ratio is robust, showcasing financial stability. However, the slight increase in liabilities over time needs monitoring to prevent potential leverage risks.

Cash Flow

Operating cash flow remains positive, reflecting decent cash generation from operations. However, the free cash flow has fluctuated significantly due to high capital expenditures, impacting liquidity. The cash flow coverage of net income is healthy, but sustained improvement in free cash flow is crucial for long-term resilience.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	12.84B	12.89B	12.59B	11.57B	10.84B
Gross Profit	2.16B	2.28B	2.31B	2.15B	1.96B
EBITDA	797.05M	828.20M	655.18M	873.32M	965.24M
Net Income	148.63M	249.24M	117.14M	190.79M	179.78M
Balance Sheet
Total Assets	16.87B	17.01B	16.99B	15.64B	16.60B
Cash, Cash Equivalents and Short-Term Investments	2.39B	3.15B	3.65B	3.26B	3.46B
Total Debt	2.30B	2.03B	2.66B	1.98B	2.35B
Total Liabilities	6.66B	7.02B	7.29B	6.34B	6.79B
Stockholders Equity	9.80B	9.62B	9.30B	8.90B	9.43B
Cash Flow
Free Cash Flow	-617.93M	180.74M	-226.84M	201.83M	708.77M
Operating Cash Flow	246.92M	508.99M	464.80M	529.34M	1.08B
Investing Cash Flow	-1.17B	-345.73M	-745.35M	-441.94M	-431.48M
Financing Cash Flow	116.41M	-762.08M	606.48M	-478.57M	-306.82M

Maruo Calcium Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1423.00
• 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:4102, the sentiment is Positive. The current price of 1423 is below the 20-day moving average (MA) of 1457.55, below the 50-day MA of 1437.34, and above the 200-day MA of 1388.73, indicating a bullish trend. The MACD of 9.98 indicates Positive momentum. The RSI at 54.89 is Neutral, neither overbought nor oversold. The STOCH value of 51.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4102.

Maruo Calcium Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4093	79 Outperform	¥16.25B	12.89	―	3.89%	-3.00%	-29.83%
4040	77 Outperform	¥9.16B	3.04	―	1.96%	8.43%	2.99%
8158	64 Neutral	¥26.32B	12.72	―	3.99%	1.66%	-31.23%
4102	62 Neutral	¥3.27B	15.95	―	2.12%	-5.18%	4.52%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
4960	60 Neutral	¥12.26B	93.74	―	1.06%	-9.63%	-1.71%
4080	48 Neutral	¥13.27B	-10.19	-7.76%	―	-19.70%	-159.15%