AOKI Holdings, Inc. (8214) AI Stock Analysis

• Market Cap: ¥158.58B
• Dividend Yield: 4.49%
• Average Volume (3M): 187.07K
• Price to Earnings (P/E): 18.3
• Beta (1Y): 0.73
• Revenue Growth: 2.21%
• EPS Growth: 4.36%
• Country: JP
• Employees: 4,010
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Retail
• EPS (TTM): 6.90
• Shares Outstanding: 86,649,506
• 10 Day Avg. Volume: 163,790
• 30 Day Avg. Volume: 187,070
• PEG Ratio: 0.43
• Price to Book (P/B): 0.77
• Price to Sales (P/S): 0.57
• P/FCF Ratio: 9.31
• 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: 72 Outperform
• Price Target: ¥2,093.00 ▲(15.57% Upside)

AOKI Holdings, Inc. demonstrates strong financial performance with consistent revenue growth and robust cash flow, which are the most significant factors in its overall score. The valuation is attractive due to a reasonable P/E ratio and high dividend yield. However, technical indicators suggest a bearish trend, which slightly offsets the positive financial and valuation aspects.

Positive Factors

Cash Flow Strength

Robust and rising operating and free cash flow provide durable internal funding for capex, store remodels, and debt reduction. Strong cash generation supports reinvestment and resilience across cycles, reducing reliance on external financing and enabling strategic long-term initiatives.

Improving Leverage

Material reduction in leverage and a stable ~60% equity ratio strengthen financial flexibility. Lower D/E reduces interest burden and bankruptcy risk, giving management capacity to pursue growth or weather downturns while maintaining access to capital markets on better terms.

Top-line and Margin Progress

Sustained revenue expansion with improving gross and net margins indicates effective pricing, cost control, and scale benefits. This structural profit improvement enhances cash conversion and reinvestment capacity, supporting longer-term competitiveness and shareholder returns.

Negative Factors

Moderate Operating Margins

Modest operating margins suggest limited operational leverage and potential inefficiencies in restaurant/hospitality operations. Without structural margin expansion, profit growth may lag revenue gains and constrain cash available for strategic investments or sustained dividend increases.

Residual Debt Risk

Although leverage improved, meaningful remaining debt raises refinancing and interest-rate exposure risk. In a prolonged downturn or cost shock, servicing that debt could pressure cash flow, limit flexibility for capex or M&A, and require more aggressive deleveraging actions.

Modest Return on Equity

A mid-single-digit ROE, while improving, implies limited capital efficiency versus higher-return peers. Persistently modest ROE can cap long-term shareholder value creation unless management accelerates margin expansion, improves asset turns, or reallocates capital to higher-return initiatives.

AOKI Holdings, Inc. Business Overview & Revenue Model

Company Description

AOKI Holdings Inc. engages in the fashion, anniversary and bridal, entertainment, and real estate leasing businesses in Japan. It creates and sells apparel for men and women, as well as business apparel and casual clothing under the AOKI and ORIHICA brand names; and operates apparel store that offers casual clothing of big sizes for men and women under the Size MAX name. The company also operates wedding halls and guesthouse-style halls for ceremonies and receptions, as well as offers related products and services. In addition, it operates and manages KAIKATSU CLUB café complexes; COTE D'AZUR karaoke facilities; and FiT24 fitness and training facilities. The company was founded in 1958 and is headquartered in Yokohama, Japan.

How the Company Makes Money

AOKI Holdings generates revenue predominantly through its restaurant operations, where it earns money from food and beverage sales. The company operates numerous restaurant chains, each contributing to its overall revenue through direct sales to customers. Key revenue streams include dine-in services, takeout, and catering services. Additionally, AOKI may benefit from partnerships with suppliers and distributors for food products, enhancing its supply chain efficiency and cost management. Seasonal promotions, loyalty programs, and marketing strategies also play a crucial role in driving customer traffic and increasing sales, further contributing to the company's earnings.

AOKI Holdings, Inc. Financial Statement Overview

Summary

AOKI Holdings, Inc. presents a solid financial profile with consistent revenue and profit growth, improved leverage ratios, and strong cash flow generation. Despite some areas for improvement in operational efficiency and debt management, the company is well-positioned within the Apparel - Retail industry.

Income Statement

AOKI Holdings, Inc. has shown consistent revenue growth over the past few years, with a notable increase from ¥154.9 billion in 2022 to ¥192.7 billion in 2025. The gross profit margin has improved from 38.5% in 2021 to 41.9% in 2025, indicating better cost control. The net profit margin has also improved significantly to 5.0% in 2025 from negative figures in 2021, reflecting enhanced profitability. However, EBIT and EBITDA margins remain moderate, suggesting room for operational efficiency improvements.

Balance Sheet

The company's debt-to-equity ratio has improved from 0.55 in 2021 to 0.29 in 2025, indicating better leverage management. Return on Equity (ROE) has also shown a positive trend, rising to 6.7% in 2025, reflecting improved profitability. The equity ratio has remained stable around 60%, ensuring a strong capital structure. However, the total debt, while decreasing, still represents a significant portion of the company's liabilities, posing a potential risk if not managed properly.

Cash Flow

AOKI Holdings has demonstrated strong cash flow performance, with operating cash flow increasing from ¥4.35 billion in 2021 to ¥21.7 billion in 2025. Free cash flow has also grown significantly, reflecting effective capital expenditure management. The free cash flow to net income ratio indicates healthy cash generation relative to earnings. The company’s ability to generate consistent free cash flow provides a solid foundation for future investments and debt repayment.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	193.54B	192.69B	187.72B	176.17B	154.92B	143.17B
Gross Profit	81.62B	80.69B	76.93B	69.56B	59.64B	48.36B
EBITDA	24.22B	24.20B	22.44B	17.35B	15.25B	-1.88B
Net Income	9.26B	9.57B	7.57B	5.63B	2.56B	-11.93B
Balance Sheet
Total Assets	215.68B	232.98B	236.33B	233.42B	233.01B	237.26B
Cash, Cash Equivalents and Short-Term Investments	23.88B	34.88B	35.66B	38.30B	37.94B	29.94B
Total Debt	29.71B	40.66B	48.22B	52.70B	61.97B	69.68B
Total Liabilities	77.33B	90.83B	99.27B	101.17B	105.37B	111.41B
Stockholders Equity	138.05B	141.84B	136.76B	131.97B	127.64B	125.85B
Cash Flow
Free Cash Flow	0.00	11.76B	5.70B	12.13B	8.76B	-6.59B
Operating Cash Flow	0.00	21.74B	17.59B	17.48B	17.13B	4.35B
Investing Cash Flow	0.00	-8.52B	-10.89B	-3.03B	886.00M	-11.52B
Financing Cash Flow	0.00	-13.99B	-9.34B	-14.09B	-10.02B	13.27B

AOKI Holdings, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1811.00
• 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:8214, the sentiment is Positive. The current price of 1811 is below the 20-day moving average (MA) of 1826.40, above the 50-day MA of 1748.48, and above the 200-day MA of 1627.79, indicating a bullish trend. The MACD of 37.90 indicates Negative momentum. The RSI at 79.20 is Negative, neither overbought nor oversold. The STOCH value of 94.92 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8214.

AOKI Holdings, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
7606	74 Outperform	¥68.45B	18.89	―	2.73%	10.48%	-34.38%
8214	72 Outperform	¥158.58B	18.33	―	4.49%	2.21%	4.36%
8219	71 Outperform	¥132.22B	14.13	5.53%	6.09%	-1.03%	4.12%
8185	66 Neutral	¥34.89B	17.02	―	4.07%	-9.86%	-14.02%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
7416	54 Neutral	¥11.99B	-29.78	―	2.24%	0.49%	-169.64%
7494	47 Neutral	¥8.46B	17.86	―	4.13%	-10.82%	―

AOKI Holdings, Inc. Corporate Events

AOKI Holdings Reports Mixed Financial Results for Q2 FY2026

AOKI Holdings Inc. reported its consolidated financial results for the second quarter of the fiscal year ending March 31, 2026, showing a slight increase in net sales by 1.3% compared to the previous year. However, the company experienced a decline in operating profit and profit attributable to owners of the parent, indicating challenges in maintaining profitability. The company has revised its full-year forecast, expecting a modest increase in net sales and operating profit, reflecting cautious optimism about future performance.

The most recent analyst rating on (JP:8214) stock is a Buy with a Yen1865.00 price target. To see the full list of analyst forecasts on AOKI Holdings, Inc. stock, see the JP:8214 Stock Forecast page.