YAMAX Corp. (5285) AI Stock Analysis

• Market Cap: ¥18.25B
• Dividend Yield: 3.1%
• Average Volume (3M): 70.39K
• Price to Earnings (P/E): 8.2
• Beta (1Y): 1.12
• Revenue Growth: 18.19%
• EPS Growth: 27.62%
• Country: JP
• Employees: 593
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction Materials
• EPS (TTM): 68.44
• Shares Outstanding: 11,580,000
• 10 Day Avg. Volume: 68,010
• 30 Day Avg. Volume: 70,386
• PEG Ratio: 0.13
• Price to Book (P/B): 1.57
• Price to Sales (P/S): 0.58
• P/FCF Ratio: 18.18
• 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: 74 Outperform
• Price Target: ¥2,050.00 ▲(9.16% Upside)
• Action: Reiterated Date: 02/06/26
• Date: Action: Reiterated 02/06/26

The score is driven primarily by strong financial performance (growth, rising margins, low leverage, high ROE) and attractive valuation (low P/E and healthy dividend). These positives are partially offset by weak technicals, with price trading below key moving averages despite oversold momentum readings.

Positive Factors

Revenue Growth

Sustained double-digit revenue growth indicates expanding core demand and successful commercial execution in construction materials. Over 2-6 months this supports durable topline momentum, scale benefits, and the ability to fund reinvestment or dividend policy without relying on one-off gains.

Improving Profitability

High and rising margins reflect pricing power and operational efficiency in manufacturing and supply. Sustained margin improvement preserves cash generation even if revenue growth moderates, enabling continued capex, R&D or shareholder distributions and building resilience vs cyclical swings.

Low Leverage & High ROE

Low leverage paired with strong ROE signals conservative financing and effective capital use. This structural strength reduces refinancing risk, supports investment flexibility, and underpins sustainable dividend capacity and creditworthiness across multiple macro cycles.

Negative Factors

Declining Free Cash Flow

A weakening free cash flow trend, despite solid operating cash, tightens the firm's ability to self-fund capex, pay dividends or reduce debt long-term. If capex or working capital needs remain elevated, lower FCF can force financing choices that affect strategic flexibility.

Modest EPS Growth

EPS growth materially lagging revenue suggests margin pressure from non-operating items, dilution, or higher financing/capex needs. Over months this can limit per-share earnings expansion and reduce retained-earnings driven reinvestment unless efficiency or capital structure improves.

Slight Asset Contraction

A shrinking asset base may reflect lower investment, asset disposals, or reduced working capital. Persisting asset contraction can constrain future capacity and growth opportunities and may signal early structural shifts in operations that need corrective investment to sustain long-term revenue momentum.

YAMAX Corp. Business Overview & Revenue Model

Company Description

Yamax Corp. engages in the manufacture and sale of concrete and cement products for the construction and civil engineering projects in Japan. It offers various civil engineering concrete secondary products, such as culverts, retaining walls, gutters, water storage tanks, and waterways for a range of fields, including roads, agriculture, rivers, and sewerage. The company is also involved in the construction, renovation, and sale of housing projects. Yamax Corp. was incorporated in 1963 and is based in Kumamoto, Japan.

How the Company Makes Money

YAMAX Corp. generates revenue through multiple key streams, primarily from the sale of its consumer electronics products, including smart wearables and health monitoring devices. The company adopts a direct sales model, distributing its products through both online platforms and physical retail channels, capturing a broad customer base. Additionally, YAMAX Corp. leverages partnerships with health and fitness organizations to promote its products, which can lead to bundled sales and increased brand visibility. The company also explores subscription-based services related to health tracking and data analytics, offering consumers enhanced features and personalized insights, thereby creating an additional revenue stream. Strategic collaborations with tech firms for software integration further contribute to its earnings, allowing YAMAX to expand its product offerings and enhance user engagement.

YAMAX Corp. Financial Statement Overview

Summary

Strong fundamentals supported by solid revenue growth (+12.8%), improving profitability (net margin up to 8.4%) and operational efficiency (better EBIT/EBITDA margins). Balance sheet leverage is low (Debt-to-Equity 0.22) with strong ROE (22.8%) and a stable equity ratio (48.1%). The main offset is softer free cash flow, which warrants monitoring.

Income Statement

YAMAX Corp. has shown strong revenue growth with a 12.8% increase in the latest year, complemented by improving profitability metrics. The gross profit margin is robust at 28%, and the net profit margin has increased to 8.4%, indicating efficient cost management and enhanced profitability. EBIT and EBITDA margins have also improved, showcasing operational efficiency.

Balance Sheet

The balance sheet reflects a solid equity position with a Debt-to-Equity Ratio of 0.22, indicating low leverage. Return on Equity (ROE) has improved to 22.8%, demonstrating effective use of shareholder funds. The equity ratio of 48.1% highlights financial stability, although there is a slight decrease in total assets, which requires monitoring.

Cash Flow

YAMAX Corp.'s cash flow statement reveals a slight decline in free cash flow, but the operating cash flow remains strong at 1.32 billion JPY. The Operating Cash Flow to Net Income Ratio is stable at 0.67, reflecting consistent cash generation relative to earnings. However, the Free Cash Flow to Net Income Ratio has decreased, necessitating attention to capital expenditures.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	24.99B	23.47B	20.81B	18.03B	15.77B	18.58B
Gross Profit	6.74B	6.57B	5.25B	4.08B	3.49B	3.66B
EBITDA	3.26B	3.14B	2.20B	1.20B	925.49M	1.03B
Net Income	2.05B	1.97B	1.30B	540.62M	364.44M	442.49M
Balance Sheet
Total Assets	16.96B	17.94B	18.62B	15.11B	13.32B	13.97B
Cash, Cash Equivalents and Short-Term Investments	877.40M	2.27B	2.10B	1.42B	1.24B	1.72B
Total Debt	1.81B	1.91B	2.15B	2.21B	1.84B	2.13B
Total Liabilities	8.41B	9.32B	11.63B	9.35B	8.02B	8.95B
Stockholders Equity	8.56B	8.63B	7.00B	5.77B	5.30B	5.03B
Cash Flow
Free Cash Flow	0.00	745.13M	884.57M	13.20M	-119.96M	717.27M
Operating Cash Flow	0.00	1.32B	1.31B	260.11M	333.90M	1.01B
Investing Cash Flow	0.00	-511.12M	-411.44M	-329.88M	-409.55M	-71.63M
Financing Cash Flow	0.00	-645.20M	-223.57M	245.57M	-414.26M	-576.27M

YAMAX Corp. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1878.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5285, the sentiment is Negative. The current price of 1878 is above the 20-day moving average (MA) of 1873.05, below the 50-day MA of 1937.98, and below the 200-day MA of 1891.46, indicating a bearish trend. The MACD of -62.93 indicates Positive momentum. The RSI at 32.78 is Neutral, neither overbought nor oversold. The STOCH value of 21.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:5285.

YAMAX Corp. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5287	80 Outperform	¥3.67B	10.73	―	2.00%	-3.03%	-14.50%
5284	77 Outperform	¥14.90B	6.42	―	3.95%	11.85%	27.06%
5285	74 Outperform	¥18.25B	8.21	―	3.10%	18.19%	27.62%
5268	69 Neutral	¥12.70B	53.85	―	1.24%	-2.82%	-44.93%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
5271	54 Neutral	¥3.35B	31.13	―	3.85%	0.29%	-45.50%
5269	49 Neutral	¥19.41B	-129.22	―	3.24%	-3.73%	-143.19%