MrMax Holdings Ltd. (JP:8203)
:8203
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MrMax Holdings Ltd.
(8203)
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Rating:61Neutral
Price Target:
¥805.00
▼(-0.49% Downside)
Action:ReiteratedDate:04/10/26
The score is primarily supported by stable financial quality with improving leverage and steady revenue growth, but it is held back by compressed profitability and inconsistent cash generation (including slightly negative free cash flow in 2026). Valuation is a positive offset (moderate P/E and ~3.54% yield), while technical indicators are mixed with a negative MACD and price near/below key moving averages.
Positive Factors
Steady revenue growth
Sustained and accelerating top-line growth through 2025–2026 indicates durable demand for the core discount retail offering. Reliable revenue expansion supports scale benefits, bargaining power with suppliers, and capacity to invest in stores or logistics over the medium term.
Negative Factors
Compressed profitability and margins
Significantly lower margins reduce the company's earnings buffer and increase vulnerability to cost inflation or competitive pricing. Thinner profitability constrains reinvestment and makes returns more sensitive to small sales or cost shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady revenue growth
Sustained and accelerating top-line growth through 2025–2026 indicates durable demand for the core discount retail offering. Reliable revenue expansion supports scale benefits, bargaining power with suppliers, and capacity to invest in stores or logistics over the medium term.
Read all positive factors
MrMax Holdings Ltd. (8203) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥25.33B
Dividend Yield2.89%
Average Volume (3M)125.47K
Price to Earnings (P/E)9.8
Beta (1Y)0.27
Revenue Growth6.70%
EPS Growth7.79%
CountryJP
Employees708
SectorConsumer Defensive
Sector Strength42
IndustryDiscount Stores
Share Statistics
EPS (TTM)11.32
Shares Outstanding39,611,137
10 Day Avg. Volume234,010
30 Day Avg. Volume125,473
Financial Highlights & Ratios
PEG Ratio1.03
Price to Book (P/B)0.69
Price to Sales (P/S)0.18
P/FCF Ratio-188.08
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)103.6
Revenue Forecast (FY)¥153.00B
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/outdoor...
How the Company Makes Money
MrMax Holdings primarily makes money through retail sales revenue generated at its MrMax discount stores. Key revenue streams include (1) direct sales of merchandise to consumers in-store (general merchandise and daily necessities categories; exac...
MrMax Holdings Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
66
Positive
Cash Flow
54
Neutral
| Breakdown | TTM | Feb 2026 | Feb 2025 | Feb 2024 | Feb 2023 | Feb 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 142.16B | 147.68B | 136.57B | 129.57B | 126.90B | 124.83B |
| Gross Profit | 35.46B | 36.69B | 34.00B | 32.01B | 32.48B | 31.67B |
| EBITDA | 7.25B | 7.49B | 6.51B | 5.56B | 6.93B | 6.86B |
| Net Income | 2.92B | 2.71B | 2.48B | 2.44B | 3.43B | 2.85B |
Balance Sheet | ||||||
| Total Assets | 89.29B | 86.75B | 83.51B | 83.85B | 82.13B | 82.42B |
| Cash, Cash Equivalents and Short-Term Investments | 2.95B | 2.11B | 1.75B | 2.39B | 3.14B | 2.89B |
| Total Debt | 20.29B | 22.14B | 19.89B | 23.31B | 24.49B | 26.82B |
| Total Liabilities | 52.04B | 48.37B | 47.45B | 49.72B | 49.67B | 52.71B |
| Stockholders Equity | 37.25B | 38.37B | 36.06B | 34.13B | 32.45B | 29.70B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -141.00M | 3.64B | 1.10B | 947.00M | 2.35B |
| Operating Cash Flow | 0.00 | 4.02B | 5.44B | 3.93B | 3.97B | 3.52B |
| Investing Cash Flow | 0.00 | -5.09B | -2.08B | -2.61B | -186.00M | -2.77B |
| Financing Cash Flow | 0.00 | 1.43B | -3.99B | -2.07B | -3.54B | -736.00M |
MrMax Holdings Ltd. Technical Analysis
Negative
809.00
Price Trends
767.14
Negative
766.94
Negative
773.27
Negative
Market Momentum
-1.61
Negative
44.12
Neutral
52.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8203, the sentiment is Negative. The current price of 809 is above the 20-day moving average (MA) of 755.25, above the 50-day MA of 767.14, and above the 200-day MA of 773.27, indicating a bearish trend. The MACD of -1.61 indicates Negative momentum. The RSI at 44.12 is Neutral, neither overbought nor oversold. The STOCH value of 52.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8203.
MrMax Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥27.59B | 11.46 | ― | 1.93% | 6.11% | 15.68% | |
74 Outperform | ¥253.56B | 11.04 | 12.03% | 1.96% | 4.24% | 13.79% | |
68 Neutral | ¥2.95T | 19.75 | 16.37% | 0.73% | 6.23% | 16.45% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | ¥25.33B | 9.77 | ― | 2.89% | 6.70% | 7.79% | |
59 Neutral | ¥543.02B | 18.82 | ― | 0.56% | ― | ― | |
55 Neutral | ¥22.88B | 11.96 | ― | 2.65% | 2.42% | 15.75% |
* Consumer Defensive Sector Average
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MrMax Holdings Ltd. Corporate Events
MrMax Holdings Outlines Fiscal 2026 Results and Retail Network Strategy
Apr 9, 2026
MrMax Holdings released reference materials for its fiscal year ended February 28, 2026, detailing summary income statements, balance sheets, selling and administrative expenses, and net sales by division and region. The company also reported on p...
MrMax Holdings Lifts Earnings, Increases Dividend and Targets Further Growth
Apr 9, 2026
MrMax Holdings reported solid growth for the fiscal year ended February 28, 2026, with operating revenue up 8.1% to ¥147.7 billion and profit attributable to owners of the parent rising 9.6% to ¥2.7 billion, improving margins and lifting...
MrMax Extends Sales Growth Streak as Value Strategy and New Store Boost March Performance
Apr 6, 2026
MrMax Holdings reported that existing store sales in March 2026 rose 1.9% year on year, marking the 17th consecutive month of growth, while customer traffic increased 3.1% for the seventh straight month. Strong demand for pet food, processed foods...
Mr Max Books Impairment Loss but Keeps Dividend Forecast Intact
Mar 27, 2026
Mr Max Holdings will book an extraordinary impairment loss of 265 million yen on underperforming stores in its full-year results for the fiscal year ending February 2026. While operating revenue and profits are expected to track earlier guidance, ...
MrMax Extends Same-Store Sales Rally and Plans New Fukuoka Outlet
Mar 5, 2026
MrMax Holdings reported that existing store sales in February 2026 rose 3.4% year on year, marking a 16th straight month of growth, while customer numbers increased 2.2% for a sixth consecutive month. Sales were boosted by clearance campaigns on T...
MrMax Extends Growth Streak With Strong January Same-Store Sales
Feb 5, 2026
MrMax Holdings Ltd. reported strong January 2026 performance, with same-store sales up 9.0% year-on-year, marking 15 consecutive months of growth, and customer traffic rising 5.3% for the fifth straight month. The company attributed the gains to e...
MrMax Holdings Posts Record Q3 Revenue and Strong Profit Growth
Jan 21, 2026
MrMax Holdings Ltd., listed under securities code 8203, operates in the retail sector, generating revenue primarily through merchandise sales complemented by real estate lease income and other operating revenue streams in the Japanese market. For ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.