Maruzen Co., Ltd. (5982) AI Stock Analysis

• Market Cap: ¥58.36B
• Dividend Yield: 3.43%
• Average Volume (3M): 4.04K
• Price to Earnings (P/E): 12.0
• Beta (1Y): 0.22
• Revenue Growth: 5.51%
• EPS Growth: 13.00%
• Country: JP
• Employees: 1,271
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 77.11
• Shares Outstanding: 19,780,000
• 10 Day Avg. Volume: 4,750
• 30 Day Avg. Volume: 4,036
• PEG Ratio: 0.39
• Price to Book (P/B): 1.04
• Price to Sales (P/S): 0.78
• P/FCF Ratio: 11.14
• 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: 77 Outperform
• Price Target: ¥4,273.00 ▲(15.49% Upside)

Maruzen Co., Ltd. demonstrates strong financial performance with robust revenue growth and cash generation, which is the most significant factor. The stock's valuation indicates it is undervalued, supported by a healthy dividend yield. Technical analysis shows a positive trend, although short-term indicators suggest potential consolidation. Overall, the company is well-positioned for growth with stable financials and appealing valuation metrics.

Positive Factors

Strong operating cash generation

Sustained growth in operating cash flow (up 16.49% YoY) and solid free cash flow support long-term reinvestment in R&D and capex, fund maintenance of dividend policy, and provide flexibility to weather downturns without needing high external financing.

Conservative balance sheet and low leverage

A high equity ratio (68.62%) and very low leverage give the company durable financial resilience. This reduces insolvency risk, lowers interest cost exposure, and preserves capacity to invest in strategic initiatives or pursue selective M&A during industry upcycles.

Exposure to semiconductor and automation markets

Focus on semiconductor equipment and industrial automation aligns the business with secular trends: increasing semiconductor complexity and factory automation. Recurring service, upgrades, and partnerships bolster durable revenue streams and product roadmap visibility.

Negative Factors

Modest return on equity

An ROE of ~9.6% suggests equity is not being maximally leveraged to generate shareholder returns. Over the medium term this can limit total shareholder value creation unless management improves asset turnover, margin expansion, or pursues higher-return investments.

Moderate net profit margin

A net margin near 7.2% is acceptable but modest for a specialized industrial-equipment supplier. Limited margin headroom constrains the firm's ability to rapidly scale earnings, absorb raw material cost shocks, or accelerate dividend and reinvestment without lifting operational efficiency.

Mid-single-digit revenue growth pace

Revenue growth in the mid-single digits suggests steady but not rapid expansion. Over 2-6 months this limits upside from market share gains; the company may need product diversification, geographic expansion, or deeper partnerships to accelerate structural growth versus peers.

Maruzen Co., Ltd. Business Overview & Revenue Model

Company Description

Maruzen Co., Ltd. engages in the manufacture and sale of commercial kitchen equipment. The company offers fryers, grillers, Gyoza cookers, ramen boilers, frozen/raw noodle boilers, electric/IH noodle boilers, griddles, gas table stoves, gas burners, steamers, rice cookers, and water pressure rice washers, as well as gas and Chinese range products. It serves restaurant chains, hotels, convenience stores, supermarkets, and other customers. The company sells its products in Japan, Australia, China, Hong Kong, Indonesia, Korea, Malaysia, the Philippines, Singapore, the United States, Vietnam, Cambodia, Myanmar, etc. Maruzen Co., Ltd. was founded in 1961 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Maruzen Co., Ltd. generates revenue through the sale of its precision machinery and industrial equipment to various sectors, including electronics, automotive, and manufacturing. Key revenue streams include direct sales of machinery, service and maintenance contracts, and long-term partnerships with major manufacturers in the semiconductor and electronics industries. The company benefits from ongoing demand for advanced manufacturing technologies, which allows for recurring revenue through equipment upgrades and parts replacement. Additionally, strategic collaborations with technology firms help Maruzen to innovate and expand its product offerings, thereby enhancing its earning potential.

Maruzen Co., Ltd. Financial Statement Overview

Summary

Maruzen Co., Ltd. exhibits strong financial health characterized by robust revenue growth, efficient operational performance, and solid cash generation. The company maintains a conservative capital structure with low leverage, enhancing its financial stability. While profitability metrics are strong, there is room for improvement in return on equity. Overall, the financials suggest a well-managed company with a positive growth trajectory and financial resilience.

Income Statement

The company shows strong revenue growth with a 6.03% increase from 2024 to 2025. Gross profit margin is healthy, maintaining a level of around 27.72% for 2025. The net profit margin has improved to 7.23%, indicating efficient cost management. EBIT and EBITDA margins are solid, reflecting good operational efficiency. The consistent growth and strong margins highlight a robust income statement with few weaknesses.

Balance Sheet

The company has a very low debt-to-equity ratio, indicating financial stability and low leverage risk. Return on equity is at 9.58%, showing decent profitability relative to shareholder's equity. The equity ratio is strong at 68.62%, suggesting a stable capital structure. The balance sheet shows robust equity and minimal debt, enhancing financial resilience, although a slightly higher ROE could indicate better utilization of equity.

Cash Flow

Operating cash flow is strong, with a 16.49% increase from 2024 to 2025, indicating healthy operational cash generation. Free cash flow growth is impressive at 14.92%, supporting potential reinvestment and shareholder returns. The operating cash flow to net income ratio is 1.17, reflecting efficient cash generation from profits. Overall, the cash flow statement demonstrates strong cash generation capabilities and efficient capital management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	65.44B	64.25B	60.60B	57.53B	52.83B	45.41B
Gross Profit	18.20B	17.81B	16.25B	14.42B	14.47B	13.30B
EBITDA	7.06B	7.56B	5.72B	4.40B	4.70B	4.62B
Net Income	4.81B	4.65B	3.71B	2.82B	2.87B	2.50B
Balance Sheet
Total Assets	73.03B	70.65B	67.88B	65.56B	61.76B	55.30B
Cash, Cash Equivalents and Short-Term Investments	37.72B	35.85B	33.07B	31.58B	29.10B	22.62B
Total Debt	961.84M	72.00M	183.43M	383.08M	638.39M	1.05B
Total Liabilities	23.08B	22.16B	22.61B	22.17B	20.28B	16.22B
Stockholders Equity	49.95B	48.49B	45.27B	43.39B	41.47B	39.07B
Cash Flow
Free Cash Flow	0.00	4.52B	3.93B	3.46B	7.06B	373.47M
Operating Cash Flow	0.00	5.43B	4.66B	4.10B	7.69B	1.53B
Investing Cash Flow	0.00	-12.91B	-759.78M	-638.14M	-712.14M	-1.12B
Financing Cash Flow	0.00	-1.75B	-2.41B	-978.83M	-494.24M	-901.52M

Maruzen Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 3700.00
• 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:5982, the sentiment is Neutral. The current price of 3700 is below the 20-day moving average (MA) of 3741.75, above the 50-day MA of 3675.10, and above the 200-day MA of 3513.63, indicating a neutral trend. The MACD of 12.22 indicates Positive momentum. The RSI at 47.33 is Neutral, neither overbought nor oversold. The STOCH value of 29.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:5982.

Maruzen Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6364	84 Outperform	¥55.61B	9.98	―	3.18%	2.98%	10.15%
6517	78 Outperform	¥72.81B	15.15	―	2.63%	-6.00%	-13.74%
5982	77 Outperform	¥58.36B	12.00	―	3.43%	5.51%	13.00%
6237	76 Outperform	¥58.53B	12.87	―	2.79%	2.85%	3.17%
6381	75 Outperform	¥65.78B	15.35	―	3.95%	-1.67%	-4.39%
6118	74 Outperform	¥64.89B	12.51	―	2.54%	2.00%	39.80%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%