Marusan Securities Co., Ltd. (8613) AI Stock Analysis

• Market Cap: ¥58.07B
• Dividend Yield: 7.26%
• Average Volume (3M): 144.18K
• Price to Earnings (P/E): 15.1
• Beta (1Y): 0.86
• Revenue Growth: 8.25%
• EPS Growth: 28.77%
• Country: JP
• Employees: 1,112
• Sector: Financial
• Sector Strength: 78
• Industry: Financial - Capital Markets
• EPS (TTM): 23.55
• Shares Outstanding: 67,398,260
• 10 Day Avg. Volume: 105,350
• 30 Day Avg. Volume: 144,176
• PEG Ratio: -0.50
• Price to Book (P/B): 0.61
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 2.63
• 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

• Rating: 70 Outperform
• Price Target: ¥963.00 ▲(11.07%Upside)

The overall stock score of 70 reflects the company's strong financial performance, characterized by consistent revenue growth and profitability, and a robust balance sheet. However, issues in cash flow management and a valuation that is in line with industry averages slightly dampen the score. Technical analysis supports a stable outlook with moderate upward momentum.

Marusan Securities Co., Ltd. Business Overview & Revenue Model

Company Description

Marusan Securities Co., Ltd. (8613) is a Japan-based securities company that provides a range of financial services. The company primarily operates in the securities sector, offering services such as brokerage, underwriting, and the distribution of securities. Marusan Securities also engages in investment advisory and asset management services, catering to both individual and institutional clients. The company is committed to delivering comprehensive financial solutions and maintaining a strong presence in the Japanese financial market.

How the Company Makes Money

Marusan Securities Co., Ltd. generates revenue through various channels within the financial services industry. The primary source of income is the brokerage fees earned from facilitating the buying and selling of securities for clients. Additionally, the company earns underwriting fees by assisting companies in issuing new stocks or bonds, thereby playing a crucial role in capital raising activities. Marusan Securities also generates income through asset management services, where it charges management fees for overseeing client investments. Investment advisory services provide another revenue stream, with the company earning fees for offering strategic financial advice to clients. Any significant partnerships or market factors that enhance its earnings are not specifically detailed in the available data.

Marusan Securities Co., Ltd. Financial Statement Overview

Summary

Marusan Securities Co., Ltd. demonstrates strong revenue growth and profitability with a solid balance sheet and low leverage. However, the company faces challenges in cash flow management, particularly in maintaining positive free cash flow, which impacts its financial performance score.

Income Statement

The company has shown consistent revenue growth, with a notable increase in revenue from 2024 to 2025. The gross profit margin remains strong, and the net profit margin has improved, reflecting effective cost management. However, there was a decline in revenue from 2021 to 2023, indicating some volatility. The EBIT and EBITDA margins are healthy, supporting profitability.

Balance Sheet

The balance sheet is robust with a high equity ratio, indicating financial stability. The debt-to-equity ratio is low, showcasing a conservative leverage strategy. However, the total assets have fluctuated, with a decrease from 2024 to 2025. The return on equity has improved, reflecting efficient use of equity to generate profits.

Cash Flow

Cash flow performance is mixed, with negative free cash flow in the latest period due to high capital expenditures and negative operating cash flow. The free cash flow growth rate is negative, indicating challenges in generating cash surplus. However, the company has had periods of strong operating cash flow, providing some positive outlook.

Breakdown
TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement		Total Revenue
19.68B	20.15B	18.61B	14.93B	18.67B	19.18B
	Gross Profit
19.18B	19.61B	18.55B	14.87B	18.60B	19.07B
	EBIT
4.46B	4.84B	3.69B	379.00M	3.22B	3.66B
	EBITDA
3.85B	5.32B	4.15B	1.12B	4.08B	5.99B
	Net Income Common Stockholders
3.39B	3.79B	2.92B	778.00M	2.83B	4.16B
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
56.11B	31.50B	39.99B	33.97B	29.68B	32.96B
	Total Assets
97.12B	73.36B	84.08B	67.60B	90.89B	99.39B
	Total Debt
0.00	2.02B	3.14B	3.01B	4.16B	3.83B
	Net Debt
-56.11B	-29.43B	-36.26B	-30.29B	-24.81B	-28.49B
	Total Liabilities
47.63B	24.35B	31.55B	21.52B	43.75B	52.99B
	Stockholders Equity
49.49B	49.01B	52.52B	46.09B	47.13B	46.40B
Cash Flow		Free Cash Flow
0.00	-1.10B	6.99B	10.64B	-1.14B	-3.23B
	Operating Cash Flow
0.00	-160.00M	7.56B	10.99B	-371.00M	-2.74B
	Investing Cash Flow
0.00	509.00M	-734.00M	-4.60B	-911.00M	1.57B
	Financing Cash Flow
0.00	-5.05B	-1.89B	-1.56B	-2.05B	-1.43B

Marusan Securities Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 867.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8613, the sentiment is Negative. The current price of 867 is below the 20-day moving average (MA) of 870.15, above the 50-day MA of 860.74, and below the 200-day MA of 923.28, indicating a neutral trend. The MACD of 1.64 indicates Positive momentum. The RSI at 46.36 is Neutral, neither overbought nor oversold. The STOCH value of 15.69 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8613.

Marusan Securities Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8699	77 Outperform	¥37.90B	2.40		1.05%	-23.80%	29.20%
8622	76 Outperform	¥32.55B	14.22	5.79%	5.42%	-2.26%	6.91%
8707	75 Outperform	¥49.77B	7.33		11.80%	6.95%	21.10%
8613	70 Outperform	¥58.07B	15.11	7.44%	7.26%	8.25%	28.77%
8708	66 Neutral	¥38.68B	12.25		2.09%	5.78%	26.02%
8614	65 Neutral	¥33.83B	13.87		4.15%	11.94%	117.54%
Sector *	64 Neutral	$12.93B	9.70	7.85%	78.03%	12.07%	-7.83%

Marusan Securities Co., Ltd. Corporate Events

Marusan Securities Proposes Digitalization of Meeting Minutes

Marusan Securities Co., Ltd. announced a proposal to amend its Articles of Incorporation, which will be submitted at the upcoming Annual General Meeting of Shareholders. The amendment aims to allow the creation and storage of meeting minutes in electronic format, reflecting a shift towards digitalization in the company’s operations.

Marusan Securities Maintains Dividend Plan for FY 2025

Marusan Securities Co., Ltd. announced its final dividend proposal for the fiscal year ending March 31, 2025, maintaining the planned dividend amounts. The company emphasizes a stable return of profits to shareholders and has a policy of paying dividends that exceed 50% of consolidated earnings per share. The decision to pay special dividends alongside ordinary dividends reflects the company’s strengthened earnings base and reduced need for cash reserves, aiming to optimize internal reserves and improve capital efficiency.

Marusan Securities Reports Dynamic Fiscal Year 2025 Financial Results

Marusan Securities Co., Ltd. reported its consolidated financial results for the fiscal year ending March 31, 2025, showing significant changes in operating and ordinary profits. The company experienced fluctuations in its financial position, with notable changes in cash flows and dividends, indicating a dynamic year with potential implications for stakeholders.

Marusan Securities Reports Mixed Financial Results for FY2024

Marusan Securities Co., Ltd. announced its preliminary consolidated financial results for the fiscal year ended March 31, 2025, showing a slight increase in operating revenue by 1.3% compared to the previous year. Despite the increase in revenue, the company experienced a decline in operating and ordinary profits by 4.0% and 3.3% respectively, while profit attributable to owners of the parent rose significantly by 29.6%, indicating a potential shift in financial strategy or market conditions.