Mizuno Corporation (JP:8022)
:8022
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Mizuno
(8022)
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Rating:74Outperform
Price Target:
¥3,954.00
▲(15.28% Upside)
Action:ReiteratedDate:02/11/26
The score is primarily supported by strong financial performance—improving margins and a low-leverage, equity-strong balance sheet—partly tempered by weaker cash flow conversion and a notable decline in free cash flow. Technicals remain bullish on trend but are overbought, which adds near-term risk. Valuation is reasonable with a modest dividend yield.
Positive Factors
Improved Profitability
Sustained margin expansion to 39.8% gross and 6.3% net indicates stronger pricing power and cost control across product lines. This durable improvement supports reinvestment, margin resiliency through cycles, and a structural uplift to return-generation over the coming 2–6 months.
Negative Factors
Decline in Free Cash Flow
A sharp year-over-year decline in free cash flow, even if still positive, is a durable concern: it limits the firm's ability to self-fund capex, inventory buildup for seasonality, or shareholder returns. Persistent FCF weakness could force trade-offs in growth investments or dividend policy.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Profitability
Sustained margin expansion to 39.8% gross and 6.3% net indicates stronger pricing power and cost control across product lines. This durable improvement supports reinvestment, margin resiliency through cycles, and a structural uplift to return-generation over the coming 2–6 months.
Read all positive factors
Mizuno (8022) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥277.85B
Dividend Yield1.81%
Average Volume (3M)250.66K
Price to Earnings (P/E)11.9
Beta (1Y)1.27
Revenue Growth5.29%
EPS Growth16.34%
CountryJP
Employees3,584
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)65.19
Shares Outstanding79,734,726
10 Day Avg. Volume259,690
30 Day Avg. Volume250,656
Financial Highlights & Ratios
PEG Ratio2.01
Price to Book (P/B)1.27
Price to Sales (P/S)0.83
P/FCF Ratio53.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)239.93
Revenue Forecast (FY)¥275.46B
Mizuno Business Overview & Revenue Model
Company Description
Mizuno Corporation manufactures and sells sports products in Japan, Europe, the Americas, the rest of Asia, and Oceania. The company offers baseball products, sportswear, sports shoes, and golf products; and equipment related to the operation of s...
How the Company Makes Money
Mizuno primarily makes money by selling sporting goods—especially athletic footwear, sportswear/apparel, and sport-specific equipment—under the Mizuno brand. Revenue is generated through (1) wholesale transactions to retailers and sporting-goods c...
Mizuno Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
80
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 243.08B | 240.34B | 229.71B | 212.04B | 172.74B | 150.42B |
| Gross Profit | 100.13B | 95.57B | 88.21B | 78.51B | 69.45B | 58.63B |
| EBITDA | 23.82B | 23.95B | 20.60B | 15.80B | 12.74B | 6.72B |
| Net Income | 14.99B | 15.24B | 14.31B | 9.91B | 7.72B | 3.75B |
Balance Sheet | ||||||
| Total Assets | 214.91B | 218.48B | 206.15B | 197.52B | 166.36B | 157.14B |
| Cash, Cash Equivalents and Short-Term Investments | 35.99B | 32.40B | 31.96B | 23.84B | 24.43B | 22.64B |
| Total Debt | 12.99B | 16.60B | 13.40B | 24.81B | 11.21B | 18.07B |
| Total Liabilities | 57.82B | 61.35B | 64.08B | 73.24B | 53.89B | 52.96B |
| Stockholders Equity | 156.30B | 156.35B | 141.45B | 123.74B | 111.98B | 103.78B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 3.73B | 20.11B | -12.43B | 10.14B | 7.41B |
| Operating Cash Flow | 0.00 | 7.01B | 21.41B | -8.05B | 12.04B | 8.78B |
| Investing Cash Flow | 0.00 | -3.51B | 131.00M | -4.45B | -2.18B | -841.00M |
| Financing Cash Flow | 0.00 | -4.01B | -14.01B | 11.01B | -8.77B | -2.31B |
Mizuno Technical Analysis
Positive
3430.00
Price Trends
3599.11
Negative
3321.68
Positive
2989.82
Positive
Market Momentum
-14.26
Negative
51.47
Neutral
74.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8022, the sentiment is Positive. The current price of 3430 is above the 20-day moving average (MA) of 3419.80, below the 50-day MA of 3599.11, and above the 200-day MA of 2989.82, indicating a neutral trend. The MACD of -14.26 indicates Negative momentum. The RSI at 51.47 is Neutral, neither overbought nor oversold. The STOCH value of 74.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8022.
Mizuno Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥277.85B | 11.87 | 10.61% | 1.81% | 5.29% | 16.34% | |
65 Neutral | ¥973.36B | 17.87 | 49.14% | 2.82% | 6.80% | 0.62% | |
64 Neutral | ¥77.66B | 10.29 | ― | 2.11% | 6.04% | 93.19% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | ¥44.65B | 15.79 | ― | 3.31% | 0.88% | -138.66% | |
43 Neutral | ¥10.45B | 19.13 | ― | 3.08% | 3.31% | -94.69% | |
41 Neutral | ¥1.68T | -12.21 | -21.14% | ― | 11.45% | 42.34% |
* Consumer Cyclical Sector Average
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Mizuno Corporate Events
Mizuno Adds World Masters Games Entry to Shareholder Perks
Mar 24, 2026
Mizuno Corporation has expanded its shareholder benefits program by introducing access to the 2027 World Masters Games Kansai, an international multi-sport event for athletes aged 30 and over. The move is aimed at expressing gratitude to sharehold...
Mizuno Completes Nearly Full ¥3 Billion Share Buyback to Boost Capital Efficiency
Feb 27, 2026
Mizuno Corporation has completed a share repurchase of 740,700 common shares for approximately ¥3.0 billion via an off-auction ToSTNeT-3 transaction on the Tokyo Stock Exchange. The buyback was executed at ¥4,050 per share on February 27...
Mizuno Sets Terms for Zero Coupon Convertible Bonds Due 2031
Feb 26, 2026
Mizuno Corporation has set the key terms for its Zero Coupon Convertible Bonds due 2031, following approval by its board of directors on 26 February 2026. The bonds are structured with stock acquisition rights, allowing bondholders to convert debt...
Mizuno Launches ¥3 Billion Share Buyback via ToSTNeT-3
Feb 26, 2026
Mizuno Corporation has approved a share buyback to be executed via an off-auction share repurchase transaction (ToSTNeT-3) on the Tokyo Stock Exchange. The company plans to repurchase 740,700 shares of its common stock, representing 0.96% of issue...
Mizuno Launches ¥3 Billion Share Buyback to Boost Capital Efficiency
Feb 26, 2026
Mizuno Corporation has authorized a share repurchase of up to 800,000 common shares, equivalent to 1.04% of its outstanding stock excluding treasury shares, for a total amount not exceeding ¥3 billion. The buyback will be executed through mar...
Mizuno to Issue ¥10 Billion Zero Coupon Convertible Bonds to Fund Growth and Buybacks
Feb 26, 2026
Mizuno Corporation has approved the issuance of ¥10 billion in zero coupon convertible bonds due 2031 to fund its next phase of global growth and capital efficiency initiatives. The move supports the company’s ongoing strategy to streng...
Mizuno Raises Dividend Forecast for Fiscal 2026 After Stock Split
Feb 10, 2026
Mizuno Corporation has revised its dividend forecast for the fiscal year ending March 31, 2026, raising the planned year-end dividend from 25 yen to 35 yen per share and setting total annual dividends at 60 yen per share after a recent three-for-o...
Mizuno Lifts Nine-Month Profits and Confirms Growth Outlook After Stock Split
Feb 10, 2026
Mizuno reported consolidated net sales of ¥187.3 billion for the nine months to December 31, 2025, up 6.8% year-on-year, with operating profit rising 12.1% to ¥17.9 billion and profit attributable to owners of parent climbing 18.0% to &#...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.