MrMax Holdings Ltd. (8203) AI Stock Analysis

• Market Cap: ¥26.12B
• Dividend Yield: 2.86%
• Average Volume (3M): 125.47K
• Price to Earnings (P/E): 8.9
• Beta (1Y): 0.23
• Revenue Growth: 6.70%
• EPS Growth: 7.79%
• Country: JP
• Employees: 708
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Discount Stores
• EPS (TTM): 31.36
• Shares Outstanding: 39,611,137
• 10 Day Avg. Volume: 234,010
• 30 Day Avg. Volume: 125,473
• PEG Ratio: 7.19
• Price to Book (P/B): 0.62
• Price to Sales (P/S): 0.16
• P/FCF Ratio: 6.13
• 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: Hold
• Number of Analyst Covering: 0

• Rating: 68 Neutral
• Price Target: ¥876.00 ▲(9.09% Upside)

The overall stock score for MrMax Holdings Ltd. is driven primarily by its strong valuation, indicating potential undervaluation and an attractive dividend yield. Financial performance is solid, with good revenue growth and leverage management, though operational efficiency needs attention. Technical analysis suggests bearish momentum, which could pose short-term risks.

MrMax Holdings Ltd. Business Overview & Revenue Model

Company Description

MrMax Holdings Ltd. operates discount stores in Japan. Its stores sell home appliances, food, kitchen and household items, beauty and healthcare, clothing and fashion accessories, stationery and toys, per supplies, interior/storage, sports/outdoors, car supplies, and gardening/DIY products. The company operates 56 stores, as well as an online store. The company was formerly known as Mr Max Corporation and changed its name to MrMax Holdings Ltd. in September 2017. MrMax Holdings Ltd. was founded in 1925 and is headquartered in Fukuoka, Japan.

How the Company Makes Money

MrMax Holdings Ltd. generates revenue primarily through the sale of products in its retail stores. The company leverages its extensive supply chain and purchasing power to acquire goods at lower costs, allowing it to offer discounts to consumers while maintaining profit margins. Key revenue streams include sales of electronics, household items, and groceries. MrMax Holdings may also engage in strategic partnerships with suppliers to secure exclusive deals or special promotions that attract customers. Additionally, the company's focus on efficient store operations and cost management contributes to its profitability.

MrMax Holdings Ltd. Financial Statement Overview

Summary

MrMax Holdings Ltd. shows strong revenue growth with stable profitability margins and solid leverage management, indicated by an improved debt-to-equity ratio. However, there are concerns about declining operational efficiency and return on equity.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	139.08B	136.57B	129.57B	126.90B	124.83B	131.79B
Gross Profit	34.72B	34.00B	32.01B	32.48B	31.67B	33.60B
EBITDA	6.94B	6.51B	5.56B	7.02B	6.86B	8.07B
Net Income	2.79B	2.48B	2.44B	3.43B	2.85B	3.54B
Balance Sheet
Total Assets	88.91B	83.20B	83.51B	81.93B	82.22B	82.31B
Cash, Cash Equivalents and Short-Term Investments	2.19B	1.75B	2.39B	3.14B	2.89B	2.87B
Total Debt	20.81B	19.89B	23.31B	24.49B	26.80B	26.07B
Total Liabilities	52.77B	47.14B	49.38B	49.48B	52.51B	54.44B
Stockholders Equity	36.14B	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: 803.00
• 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:8203, the sentiment is Positive. The current price of 803 is below the 20-day moving average (MA) of 819.80, below the 50-day MA of 849.86, and above the 200-day MA of 731.32, indicating a neutral trend. The MACD of -17.81 indicates Positive momentum. The RSI at 43.68 is Neutral, neither overbought nor oversold. The STOCH value of 59.62 is Neutral, 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	―	¥33.10B	7.35	―	2.06%	6.11%	15.68%
2735	―	¥8.85B	10.42	―	3.48%	0.52%	-3.73%
8203	―	¥26.12B	8.87	―	2.86%	6.70%	7.79%
7475	―	¥24.35B	16.33	―	2.52%	1.12%	-3.92%
2750	―	¥9.97B	9.75	―	2.08%	11.14%	-6.30%
Sector *	―	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
9993	―	¥12.79B	―	―	2.30%	2.43%	50.53%

MrMax Holdings Ltd. Corporate Events

Mr Max Holdings Ltd. Reports Strong Interim Financial Results and Positive Outlook

Mr Max Holdings Ltd. reported a significant increase in its consolidated financial results for the six months ended August 31, 2025, with operating revenue rising by 8.1% and profit attributable to owners of the parent increasing by 30.2% compared to the previous year. The company also revised its earnings and dividend forecasts, indicating a positive outlook for the fiscal year ending February 28, 2026, which suggests strengthened financial performance and potential benefits for stakeholders.

The most recent analyst rating on (JP:8203) stock is a Hold with a Yen913.00 price target. To see the full list of analyst forecasts on MrMax Holdings Ltd. stock, see the JP:8203 Stock Forecast page.

MrMax Holdings Ltd. Revises Earnings and Dividend Forecasts for FY2026

MrMax Holdings Ltd. has revised its earnings and dividend forecasts for the fiscal year ending February 28, 2026, due to increased rice sales and effective price-cut initiatives amid rising rice prices. The company expects higher operating revenue and profits, which has led to an increase in the dividend forecast from 25 yen to 27 yen per share.

The most recent analyst rating on (JP:8203) stock is a Hold with a Yen913.00 price target. To see the full list of analyst forecasts on MrMax Holdings Ltd. stock, see the JP:8203 Stock Forecast page.

MrMax Holdings Ltd. Renews Commitment Line Agreement for Financial Stability

MrMax Holdings Ltd. has renewed its Commitment Line Agreement, extending the contract expiration date to August 31, 2026. This renewal, involving a maximum borrowing limit of 6 billion yen with several financial institutions, aims to secure flexible funding options to ensure working capital and enhance financial stability.

The most recent analyst rating on (JP:8203) stock is a Hold with a Yen913.00 price target. To see the full list of analyst forecasts on MrMax Holdings Ltd. stock, see the JP:8203 Stock Forecast page.