SAN-AI OBBLI CO. LTD (8097) AI Stock Analysis

• Market Cap: ¥152.30B
• Dividend Yield: 4.76%
• Average Volume (3M): 84.74K
• Price to Earnings (P/E): 19.3
• Beta (1Y): 0.65
• Revenue Growth: 1.07%
• EPS Growth: -28.19%
• Country: JP
• Employees: 1,814
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Refining & Marketing
• EPS (TTM): 53.74
• Shares Outstanding: 63,000,000
• 10 Day Avg. Volume: 71,150
• 30 Day Avg. Volume: 84,740
• PEG Ratio: -0.63
• Price to Book (P/B): 0.96
• Price to Sales (P/S): 0.17
• P/FCF Ratio: -32.85
• 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: 71 Outperform
• Price Target: ¥2,679.00 ▲(26.85% Upside)
• Action: Reiterated Date: 02/20/26
• Date: Action: Reiterated 02/20/26

The score is primarily supported by strong financial stability (very low leverage) and solid TTM cash generation, offset by margin pressure and slight TTM revenue decline. Technicals are constructive (price above major moving averages) but appear overextended (high RSI/Stoch). Valuation is helped by a ~4.1% dividend yield, while a ~18.4 P/E keeps the overall score moderate.

Positive Factors

Strong equity backing

An equity ratio above 50% indicates durable capital structure and strong shareholder funding. This long-term strength reduces solvency risk, supports investment capacity and dividend resilience, and provides a stable buffer against cyclical shocks in refining markets.

Low leverage / prudent debt

Consistently low debt-to-equity signals prudent financing policy and lower fixed interest burdens. Over months, this enhances financial flexibility to fund maintenance capex or pursue opportunities without stressing cash flow, reducing refinancing and interest-rate exposure.

Stable operational margins

Relatively stable gross margin (~9%) and healthy EBIT/EBITDA margins point to operational efficiency and structural cost control. These durable margins support sustainable earnings power even if revenue fluctuates, enabling consistent reinvestment and creditor confidence.

Negative Factors

Declining operating cash flow

A marked drop in operating cash flow and negative free cash flow reduce internal funding capacity for capex, debt repayment, or dividends. Persisting cash generation weakness forces reliance on external financing or asset sales, raising execution and liquidity risk over months.

Revenue decline and volatility

Negative and volatile revenue growth erodes scale and can weaken negotiating leverage with suppliers and customers. Over a multi-month horizon, inconsistent top-line trends hinder planning, raise unit costs, and make sustained margin improvement and investment planning more difficult.

Thin net margins and recent EBIT decline

A low net margin (~1.5%) and recent EBIT decline leave limited cushion for cost shocks, capital needs, or strategic investments. Structurally thin profitability constrains retained earnings accumulation and makes the business more sensitive to commodity and regulatory shifts common in refining.

SAN-AI OBBLI CO. LTD Business Overview & Revenue Model

Company Description

San-Ai Obbli Co., Ltd. engages in the wholesale and retail of petroleum products and liquefied petroleum gas. The company is also involved in the storage and related operation of petroleum products, LP gas, and gas pipeline service business. In addition, it engages in the aviation fuel storage facility and into-plane fuel service operations; design, construction, and consulting of aircraft refueling facilities; and generation and sale of electric power. Further, the company offers chemical products, including antiseptic/antifungal agents, fire extinguishing agents, microbial apparatus, car wash, and coating agent. The company was formerly known as San-Ai Oil Co.,Ltd. and changed its name to San-Ai Obbli Co., Ltd. in April 2022. San-Ai Obbli Co., Ltd. was incorporated in 1947 and is headquartered in Chiyoda, Japan.

How the Company Makes Money

SAN-AI OBBLI CO. LTD generates revenue through multiple streams including the sale of its robotic products, maintenance services, and software solutions. The company provides customized automation solutions tailored to specific industry needs, which allows them to charge a premium for their services. Additionally, SAN-AI OBBLI has formed partnerships with key industry players to enhance product offerings and expand market reach, further contributing to its revenue. The company also benefits from ongoing service contracts and support services that provide a steady income beyond the initial sale of equipment.

SAN-AI OBBLI CO. LTD Financial Statement Overview

Summary

Strong balance sheet (very low leverage; debt-to-equity ~0.03) supports resilience and flexibility. Cash flow is healthy on a TTM basis (FCF ~¥21.2B) but has shown meaningful volatility year-to-year. Operating performance is positive but modest, with slightly lower TTM revenue (-2.5%) and thin, pressured margins (TTM net margin ~1.3%).

Income Statement

TTM (Trailing-Twelve-Months) revenue is slightly down (-2.5%), and profitability has compressed versus recent annual periods (TTM gross margin ~8.8% and net margin ~1.3% vs ~9.5% and ~1.7% in FY2024). Earnings remain positive (TTM net income ~¥8.3B), but the business shows thin margins typical of the industry and a modest recent slowdown after stronger growth in FY2022–FY2023.

Balance Sheet

The balance sheet is conservatively levered with very low debt relative to equity (TTM debt-to-equity ~0.03; improving from ~0.10 in FY2021), providing strong financial flexibility. Equity remains sizable (~¥113B) against assets (~¥215B). Returns on equity are steady in the mid-to-high single digits (TTM ~7.3%), which is solid but not standout.

Cash Flow

Cash generation looks strong in TTM (operating cash flow ~¥26.1B and free cash flow ~¥21.2B) with a sharp rebound in free cash flow growth (~+49.9%). However, cash flow has been volatile: FY2025 shows very weak operating cash flow (~¥0.9B) and negative free cash flow (~-¥3.3B), suggesting working-capital swings or timing effects. TTM free cash flow is slightly below net income (free cash flow to net income ~0.81), indicating decent—though not perfect—earnings cash conversion.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	639.10B	654.40B	659.59B	647.83B	598.73B	473.90B
Gross Profit	56.44B	58.45B	62.33B	58.47B	52.59B	47.83B
EBITDA	16.51B	20.07B	23.22B	22.68B	18.50B	16.24B
Net Income	8.27B	8.66B	11.22B	10.90B	8.31B	7.05B
Balance Sheet
Total Assets	215.37B	207.11B	218.61B	201.24B	197.89B	187.25B
Cash, Cash Equivalents and Short-Term Investments	52.44B	40.65B	53.77B	47.02B	38.37B	36.74B
Total Debt	3.24B	4.14B	4.47B	7.01B	7.84B	10.17B
Total Liabilities	95.84B	87.08B	94.78B	83.82B	85.53B	80.78B
Stockholders Equity	113.11B	113.54B	117.74B	111.74B	107.17B	101.48B
Cash Flow
Free Cash Flow	21.18B	-3.31B	18.87B	12.60B	4.62B	3.19B
Operating Cash Flow	26.08B	938.00M	27.22B	18.92B	10.55B	9.01B
Investing Cash Flow	-4.19B	-2.53B	-8.71B	-3.25B	-3.30B	-4.42B
Financing Cash Flow	-7.59B	-11.51B	-11.88B	-6.92B	-5.72B	-5.46B

SAN-AI OBBLI CO. LTD Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2112.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8097, the sentiment is Positive. The current price of 2112 is below the 20-day moving average (MA) of 2343.15, below the 50-day MA of 2226.28, and above the 200-day MA of 2022.19, indicating a bullish trend. The MACD of 70.11 indicates Negative momentum. The RSI at 68.63 is Neutral, neither overbought nor oversold. The STOCH value of 65.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8097.

SAN-AI OBBLI CO. LTD Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8037	75 Outperform	¥103.89B	9.67	―	3.16%	3.28%	20.32%
8131	74 Outperform	¥131.32B	11.31	―	2.57%	7.46%	153.98%
8097	71 Outperform	¥152.30B	19.34	―	4.76%	1.07%	-28.19%
8132	67 Neutral	¥71.05B	25.58	―	1.37%	-5.02%	186.97%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
8133	63 Neutral	¥235.36B	16.46	―	3.45%	-4.87%	26.27%

SAN-AI OBBLI CO. LTD Corporate Events

San-Ai Obbli to Cancel 3 Million Treasury Shares to Boost Capital Efficiency

San-Ai Obbli Co., Ltd. has resolved to cancel 3 million of its common treasury shares, representing 4.55% of shares outstanding, with the effective date set for February 27, 2026. Following the cancellation, the total number of issued shares will decline to 63 million, a move that is expected to enhance capital efficiency and shareholder value by reducing share count and potentially improving per-share metrics.

The board-approved cancellation under Article 178 of the Companies Act signals an active capital management stance in a mature, competitive energy trading market. For investors and other stakeholders, this reduction in outstanding shares may support earnings per share and return on equity, underscoring management’s focus on disciplined balance-sheet use and long-term corporate value.

The most recent analyst rating on (JP:8097) stock is a Hold with a Yen2429.00 price target. To see the full list of analyst forecasts on SAN-AI OBBLI CO. LTD stock, see the JP:8097 Stock Forecast page.

SAN-AI OBBLI Launches Share Buyback to Boost Capital Efficiency

SAN-AI OBBLI CO., LTD. has resolved to repurchase its own common shares, aiming to enhance capital efficiency and maintain flexibility in its capital strategy amid a changing business environment. The board approved a buyback of up to 500,000 shares, equivalent to about 0.8% of issued shares excluding treasury stock, with a maximum outlay of ¥1.1 billion.

The repurchase will be conducted through market purchases on the Tokyo Stock Exchange between February 12 and March 31, 2026, and will add to the company’s existing treasury stock of roughly 3.67 million shares. The move underscores management’s focus on shareholder returns and balance sheet optimization, potentially supporting the stock price and signaling confidence in the company’s financial position.

The most recent analyst rating on (JP:8097) stock is a Hold with a Yen2429.00 price target. To see the full list of analyst forecasts on SAN-AI OBBLI CO. LTD stock, see the JP:8097 Stock Forecast page.

SAN-AI OBBLI Maintains Dividend and Outlook Despite Profit Decline

SAN-AI OBBLI reported net sales of ¥459.5 billion for the nine months ended December 31, 2025, down 3.2% year on year, with operating profit falling 20.0% to ¥6.9 billion and profit attributable to owners of parent dipping 5.9% to ¥6.2 billion. Despite weaker profits and a slight decline in the equity-to-asset ratio to 52.5%, the company maintained its dividend policy, already paying a ¥50 interim dividend and forecasting a full-year payout of ¥100 per share.

Management left full-year guidance unchanged, projecting a modest 0.9% increase in net sales to ¥660 billion and a 10.1% rise in operating profit to ¥13 billion, implying a recovery in profitability in the final quarter. The forecasted 5.1% growth in full-year profit attributable to owners of parent to ¥9.1 billion signals confidence in operational resilience, offering some reassurance to shareholders despite the current nine-month earnings softness.

The most recent analyst rating on (JP:8097) stock is a Hold with a Yen2429.00 price target. To see the full list of analyst forecasts on SAN-AI OBBLI CO. LTD stock, see the JP:8097 Stock Forecast page.