MOONBAT CO., LTD. (8115) AI Stock Analysis

• Market Cap: ¥6.07B
• Dividend Yield: 4.33%
• Average Volume (3M): 8.21K
• Price to Earnings (P/E): 11.8
• Beta (1Y): 0.47
• Revenue Growth: 6.79%
• EPS Growth: 15.83%
• Country: JP
• Employees: 175
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Manufacturers
• EPS (TTM): -13.47
• Shares Outstanding: 4,774,719
• 10 Day Avg. Volume: 4,080
• 30 Day Avg. Volume: 8,210
• PEG Ratio: 0.91
• Price to Book (P/B): 0.83
• Price to Sales (P/S): 0.38
• P/FCF Ratio: 6.43
• 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: 69 Neutral
• Price Target: ¥1,609.00 ▲(15.51% Upside)
• Action: Downgraded Date: 11/18/25
• Date: Action: Downgraded 11/18/25

MOONBAT CO., LTD. has a solid financial foundation with strong revenue growth and profitability. The valuation is attractive with a low P/E ratio and high dividend yield. However, the technical indicators suggest a bearish trend, which could pose short-term risks. The absence of recent earnings call data and corporate events limits the analysis.

Positive Factors

Revenue & Margin Expansion

Sustained double-digit top-line growth and a higher gross margin indicate durable demand and improved product mix or sourcing. Higher gross margins provide a structural buffer to absorb cost shocks and support reinvestment in brand, product development, and distribution over the medium term.

Strong Cash Generation

Operating cash conversion above 1.0 and growing free cash flow imply the business generates reliable internal capital. This enhances the company's ability to fund inventory cycles, weather seasonal revenue swings, pay dividends, and invest in long-term initiatives without heavy external financing.

Healthy Financial Structure

Moderate leverage and a majority-equity funded asset base provide financial flexibility and lower default risk. A mid-teens ROE level (10.7%) signals competent capital deployment, supporting sustainable operations and the ability to absorb cyclical downturns or finance modest strategic investments.

Negative Factors

Low Operating Margins

Relatively thin operating margins point to limited operating leverage and constrained pricing power versus cost bases. Over time this reduces the firm's ability to fund margin-enhancing initiatives internally and makes profitability sensitive to rising input, labor, or distribution costs absent efficiency gains.

EPS Contraction

Negative EPS growth despite revenue gains suggests pressure on per-share profitability from rising costs, dilution, or non-recurring items. Persisting EPS decline can erode investor returns and limit retained earnings available for reinvestment, dividends, or balance sheet repair.

Product Concentration & Seasonality

Heavy reliance on rainwear and umbrella categories creates demand volatility tied to weather and seasonality, constraining predictable revenue streams. Combined with modest scale (175 employees), this concentration limits bargaining power and geographic diversification, raising structural business risk.

MOONBAT CO., LTD. Business Overview & Revenue Model

Company Description

Moonbat Co.,Ltd. plans manufactures, imports, purchases, and sells umbrellas, clothing, fur, leather, jewelry, and hats in Japan. The company was founded in 1885 and is headquartered in Kyoto, Japan.

How the Company Makes Money

MOONBAT CO., LTD. generates revenue through multiple channels, primarily by selling its apparel and accessories directly to consumers and through wholesale distribution to retailers. The company's revenue model is built on its ability to combine traditional craftsmanship with modern fashion trends, thereby attracting a loyal customer base. Key revenue streams include online sales through its e-commerce platform, retail partnerships, and collaborations with other brands or designers. Additionally, MOONBAT capitalizes on seasonal collections and limited-edition releases to drive sales, complemented by strategic marketing efforts that enhance brand visibility and consumer engagement.

MOONBAT CO., LTD. Financial Statement Overview

Summary

MOONBAT CO., LTD. shows strong revenue growth and improving profitability metrics. The balance sheet is stable with manageable debt levels, and cash flows are robust, supporting operations and growth initiatives. However, there is room for improvement in operational efficiencies.

Income Statement

MOONBAT CO., LTD. has demonstrated strong revenue growth over the past years, with an impressive revenue growth rate of 12.6% from 2024 to 2025. The gross profit margin improved to 42.9% in 2025, indicating efficient cost management. The net profit margin also increased to 4.9%, showing improved profitability. However, margins like EBIT and EBITDA are relatively lower at 5.9% and 7.6%, respectively, suggesting room for operational efficiency improvements.

Balance Sheet

The company's balance sheet is fairly strong with a debt-to-equity ratio of 0.44, indicating moderate leverage. The return on equity (ROE) of 10.7% reflects decent profitability on equity capital. The equity ratio of 55% suggests a stable financial structure with more than half of the assets financed by equity. However, there is a need to monitor debt levels to maintain this stability.

Cash Flow

MOONBAT CO., LTD. has shown robust cash flow management, with a healthy operating cash flow to net income ratio of 1.4, indicating strong cash generation from operations relative to net income. The free cash flow has grown, evidenced by a positive free cash flow growth rate from 2024 to 2025. The free cash flow to net income ratio of 1.2 further indicates the company's ability to generate sufficient cash flow to cover its net income.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	12.18B	11.95B	10.61B	9.58B	7.46B	7.15B
Gross Profit	5.35B	5.12B	4.44B	3.70B	2.77B	2.92B
EBITDA	1.10B	909.53M	576.89M	361.71M	-191.24M	-1.51B
Net Income	744.13M	583.34M	545.27M	140.56M	-379.63M	-1.86B
Balance Sheet
Total Assets	10.84B	9.93B	9.88B	10.33B	11.06B	11.27B
Cash, Cash Equivalents and Short-Term Investments	1.40B	1.34B	1.04B	891.40M	657.75M	1.25B
Total Debt	2.54B	2.43B	2.49B	3.12B	3.93B	4.55B
Total Liabilities	4.97B	4.46B	4.82B	5.78B	6.56B	6.20B
Stockholders Equity	5.86B	5.46B	5.06B	4.56B	4.50B	5.07B
Cash Flow
Free Cash Flow	0.00	701.76M	835.05M	1.07B	-125.37M	-1.86B
Operating Cash Flow	0.00	783.45M	910.02M	1.08B	-101.95M	-1.71B
Investing Cash Flow	0.00	5.02M	-31.47M	70.06M	152.54M	-20.88M
Financing Cash Flow	0.00	-491.30M	-741.80M	-921.39M	-661.12M	1.89B

MOONBAT CO., LTD. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1393.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8115, the sentiment is Positive. The current price of 1393 is below the 20-day moving average (MA) of 1421.45, below the 50-day MA of 1396.44, and above the 200-day MA of 1351.44, indicating a bullish trend. The MACD of 6.78 indicates Negative momentum. The RSI at 60.78 is Neutral, neither overbought nor oversold. The STOCH value of 89.11 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8115.

MOONBAT CO., LTD. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3045	77 Outperform	¥3.16B	9.30	―	3.55%	4.96%	15.39%
3524	70 Outperform	¥4.25B	8.93	―	3.18%	3.21%	-21.80%
8115	69 Neutral	¥6.07B	11.77	―	4.33%	6.79%	15.83%
8123	68 Neutral	¥2.80B	7.88	―	3.56%	2.89%	35.17%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
3202	57 Neutral	¥4.33B	53.38	―	2.63%	-3.01%	-65.96%
3409	48 Neutral	¥3.43B	-39.11	―	―	16.33%	75.48%