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

• Market Cap: ¥5.91B
• Dividend Yield: 4.33%
• Average Volume (3M): 8.21K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.45
• 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: 0.92
• Price to Book (P/B): 0.83
• Price to Sales (P/S): 0.38
• P/FCF Ratio: 6.48
• 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: ¥1,535.00 ▲(10.19% 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

Consistent Revenue Growth

A 12.6% year-over-year revenue increase demonstrates durable top-line momentum driven by product demand and distribution. Sustained revenue growth supports reinvestment in product development and channels, enhancing scale and reducing per-unit costs over the medium term.

Strong Operating Cash Generation

Operating cash flow exceeding net income and rising free cash flow indicate reliable cash conversion from operations. This durable cash generation supports capex, dividends, inventory funding and strategic initiatives without overreliance on external financing.

Prudent Balance Sheet Structure

Moderate leverage and a >50% equity ratio point to a stable capital structure that cushions economic shocks. Combined with a mid-teens ROE, this financial position preserves flexibility to fund growth or absorb temporary demand drops while keeping borrowing capacity available.

Negative Factors

Thin Operating Margins

Relatively low operating and EBITDA margins limit the company’s margin buffer against cost inflation and pricing pressure inherent in apparel/accessories. Enduring margin constraints reduce the capacity to absorb rising input or distribution costs without eroding profitability.

Declining EPS Trend

Negative EPS growth suggests profit per share contraction, which can reflect margin pressure, episodic costs, or mix shifts. If persistent, declining EPS undermines retained earnings growth and reduces flexibility for dividends, buybacks, or funding strategic initiatives.

High Product Seasonality & Concentration

Concentration in seasonal items like umbrellas and rainwear drives cyclical revenue and inventory risk. This structural seasonality can cause uneven cash flow across the year and makes long-term growth more dependent on diversification or expanding counter-seasonal channels.

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 generates revenue mainly by selling its products—especially umbrellas, rainwear, and related fashion accessories—into the consumer market. Its earnings are typically driven by (1) wholesale sales to retailers (e.g., department stores, specialty stores, and other distribution partners) where MOONBAT supplies branded or private-label items, and (2) direct-to-consumer sales through company-operated channels such as owned stores or e-commerce, if applicable. The company’s revenue model generally depends on designing and sourcing/manufacturing seasonal product lines, then monetizing them through sell-in to retail partners and sell-through to end customers. Additional contributing factors can include licensing/brand collaborations (where MOONBAT produces or sells goods under licensed brands and earns sales revenue from those products) and product mix/seasonality (demand and sales volumes often rise during rainy seasons and in periods of higher gifting/holiday consumption). Specific figures for the breakdown by segment/channel, named major partners, or the exact contribution of licensing are null.

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	1.05B	875.24M	586.05M	270.07M	-400.10M	-495.74M
Net Income	744.21M	583.34M	545.27M	140.56M	-379.63M	-1.86B
Balance Sheet
Total Assets	10.84B	10.07B	10.05B	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	4.60B	5.00B	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	695.77M	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: Negative
• Last Price: 1393.00
• 50DMA: Negative
• 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:8115, the sentiment is Negative. The current price of 1393 is below the 20-day moving average (MA) of 1423.75, below the 50-day MA of 1420.14, and above the 200-day MA of 1384.89, indicating a neutral trend. The MACD of -1.19 indicates Positive momentum. The RSI at 47.20 is Neutral, neither overbought nor oversold. The STOCH value of 30.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8115.

MOONBAT CO., LTD. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8115	69 Neutral	¥5.91B	-24.68	―	4.33%	6.79%	15.83%
8118	68 Neutral	¥20.37B	18.76	―	1.99%	-3.60%	15.74%
8011	66 Neutral	¥39.16B	13.45	―	5.23%	―	―
7126	63 Neutral	¥4.83B	4.07	―	2.36%	2.14%	-0.39%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
8166	47 Neutral	¥3.93B	1.99	―	―	-5.25%	-77.53%
8107	46 Neutral	¥9.36B	-162.43	―	―	90.06%	-98.03%