MrMax Holdings Ltd. (8203) AI Stock Analysis

• Market Cap: ¥25.23B
• Dividend Yield: 3.03%
• Average Volume (3M): 83.45K
• Price to Earnings (P/E): 9.1
• Beta (1Y): 0.30
• Revenue Growth: 6.32%
• EPS Growth: 10.30%
• Country: JP
• Employees: 708
• Sector: Consumer Defensive
• Sector Strength: 55
• Industry: Discount Stores
• EPS (TTM): 25.54
• Shares Outstanding: 39,611,137
• 10 Day Avg. Volume: 146,720
• 30 Day Avg. Volume: 83,450
• PEG Ratio: 0.31
• Price to Book (P/B): 0.66
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 22.73
• 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: ¥727.00
• Price Target Upside: -6.44% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 76 Outperform
• Price Target: ¥880.00 ▲(13.26%Upside)

MrMax Holdings Ltd. demonstrates strong financial health with robust revenue growth and attractive valuation metrics. The technical analysis suggests bullish momentum, though caution is advised due to overbought technical indicators. Improvements in operational efficiency would further enhance the stock's attractiveness.

MrMax Holdings Ltd. Business Overview & Revenue Model

Company Description

MrMax Holdings Ltd. (8203) is a Japan-based company primarily engaged in the retail sector. It operates a chain of discount stores across Japan, offering a wide range of products including groceries, household goods, electronics, apparel, and more. The company's stores are known for offering affordable prices and a broad assortment of everyday items, catering to cost-conscious consumers seeking value for money.

How the Company Makes Money

MrMax Holdings Ltd. generates revenue primarily through the sale of goods in its discount retail stores. The company focuses on high-volume sales of low-margin products, leveraging its large scale and efficient supply chain management to offer competitive pricing. By maintaining a diverse product lineup, MrMax attracts a broad customer base, driving foot traffic and sales volume. Additionally, the company may engage in strategic partnerships with suppliers to secure favorable purchasing terms, further enhancing its pricing strategy. Revenue is also supported by seasonal promotions and marketing campaigns designed to boost sales during peak shopping periods.

MrMax Holdings Ltd. Financial Statement Overview

Summary

MrMax Holdings Ltd. shows strong revenue growth and stable profitability margins, with effective leverage management. However, challenges in operational efficiency and a decline in return on equity are concerns.

Income Statement

MrMax Holdings Ltd. has shown consistent revenue growth over the years, with a noticeable increase in gross profit margin from 23.7% to 24.9% from 2024 to 2025. The net profit margin slightly improved to 1.8% in 2025, indicating a stable profitability trajectory. However, the EBIT margin decreased from 3.5% in 2023 to 2.8% in 2025, suggesting some challenges in operational efficiency. EBITDA margin also saw a decline over the same period.

Balance Sheet

The company's debt-to-equity ratio improved significantly from 2022 to 2025, indicating better leverage management. The equity ratio remained stable, reflecting a solid equity position. However, the return on equity decreased from 11.7% in 2021 to 6.9% in 2025, suggesting reduced efficiency in generating profits from shareholders' equity.

Cash Flow

Free cash flow has shown positive growth from 2024 to 2025, driven by higher operating cash flow. However, the free cash flow to net income ratio indicates a moderate conversion of accounting profits into actual cash. The operating cash flow to net income ratio has improved, showing better cash generation from operations.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	134.47B	136.57B	129.57B	126.90B	124.83B	131.79B
Gross Profit	33.35B	34.00B	32.01B	32.48B	31.67B	33.60B
EBITDA	5.55B	6.51B	5.56B	7.02B	6.86B	8.33B
Net Income	2.77B	2.48B	2.44B	3.43B	2.85B	3.54B
Balance Sheet
Total Assets	85.68B	83.20B	83.51B	81.93B	82.22B	82.31B
Cash, Cash Equivalents and Short-Term Investments	2.13B	1.75B	2.39B	3.14B	2.89B	2.87B
Total Debt	19.18B	19.89B	23.31B	24.49B	26.80B	26.07B
Total Liabilities	50.24B	47.14B	49.38B	49.48B	52.51B	54.44B
Stockholders Equity	35.43B	36.06B	34.13B	32.45B	29.70B	27.83B
Cash Flow
Free Cash Flow	0.00	3.64B	1.10B	947.00M	2.35B	8.06B
Operating Cash Flow	0.00	5.44B	3.93B	3.97B	3.52B	9.34B
Investing Cash Flow	0.00	-2.08B	-2.61B	-186.00M	-2.77B	-1.47B
Financing Cash Flow	0.00	-3.99B	-2.07B	-3.54B	-736.00M	-7.54B

MrMax Holdings Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 777.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8203, the sentiment is Positive. The current price of 777 is above the 20-day moving average (MA) of 672.45, above the 50-day MA of 670.78, and above the 200-day MA of 670.21, indicating a bullish trend. The MACD of 18.65 indicates Negative momentum. The RSI at 75.68 is Negative, neither overbought nor oversold. The STOCH value of 88.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8203.

MrMax Holdings Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
7520	82 Outperform	¥28.86B	6.90		2.36%	5.49%	14.96%
8203	76 Outperform	¥25.23B	9.08		3.03%	6.32%	10.30%
2735	75 Outperform	¥9.34B	12.95		3.06%	1.96%	4.38%
2750	74 Outperform	¥8.69B	9.85		2.66%	1.50%	-15.50%
7475	74 Outperform	¥25.93B	15.80		2.36%	0.40%	5.16%
Sector *	65 Neutral	$26.82B	15.15	-4.27%	3.17%	1.02%	1.89%
9993	56 Neutral	¥12.52B	―		2.35%	0.65%	-679.30%

MrMax Holdings Ltd. Corporate Events

MrMax Holdings Ltd. Reports Strong Q1 Financial Performance

MrMax Holdings Ltd. reported a strong financial performance for the first quarter ending May 31, 2025, with significant increases in operating revenue and profit compared to the previous year. The company’s operating revenue rose by 7.8%, while operating profit surged by 46.6%, indicating robust growth and improved operational efficiency. The positive financial results reflect the company’s effective strategies and market positioning, which could enhance its competitive edge in the retail sector.

MrMax Holdings Completes Treasury Share Disposal for Stock Compensation

MrMax Holdings Ltd. has completed the payment procedure for the disposal of 39,500 treasury shares as restricted stock compensation, a decision made during the Board of Directors meeting on May 22, 2025. This move, involving a total disposal amount of 26,465,000 yen, is targeted at directors and executive officers, potentially impacting the company’s equity structure and aligning management incentives with shareholder interests.

MrMax Holdings Ltd. Announces Disposal of Treasury Shares for Long-term Incentive Plan

MrMax Holdings Ltd. announced a decision by its Board of Directors to dispose of 39,500 treasury shares as part of its Restricted Stock Compensation Plan. This initiative aims to incentivize directors and executive officers to enhance the company’s sustainable growth and align their interests with shareholders. The shares will be allocated to 12 directors and executive officers, with a transfer restriction period set for 50 years, reflecting a long-term commitment to shareholder value.

MrMax Holdings Ltd. Evaluates Membership in FASF

MrMax Holdings Ltd. has announced that it is not currently a member of the Financial Accounting Standards Foundation (FASF) as of the end of its most recent fiscal year. The company emphasizes its commitment to understanding and adapting to accounting standards through collaboration with professionals and participation in relevant seminars. Although there are no immediate plans to join the FASF, MrMax Holdings Ltd. will continue to assess the situation in light of evolving accounting standards.