TRE HOLDINGS CORPORATION (9247) AI Stock Analysis

• Market Cap: ¥88.05B
• Dividend Yield: 2.77%
• Average Volume (3M): 202.26K
• Price to Earnings (P/E): 5.1
• Beta (1Y): 1.19
• Revenue Growth: 24.61%
• EPS Growth: 185.90%
• Country: JP
• Employees: 2,300
• Sector: Industrials
• Sector Strength: 72
• Industry: Waste Management
• EPS (TTM): 71.49
• Shares Outstanding: 52,610,710
• 10 Day Avg. Volume: 207,360
• 30 Day Avg. Volume: 202,260
• PEG Ratio: 0.03
• Price to Book (P/B): 1.12
• Price to Sales (P/S): 0.69
• P/FCF Ratio: 10.44
• 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: 76 Outperform
• Price Target: ¥1,937.00 ▲(20.39% Upside)

TRE HOLDINGS CORPORATION's strong financial performance and attractive valuation are the primary drivers of its stock score. The company shows robust revenue and profit growth, efficient cost management, and solid cash flow generation. Despite short-term technical indicators suggesting caution, the stock's low P/E ratio and healthy dividend yield highlight its potential as an undervalued investment opportunity.

Positive Factors

Sustained revenue and margin expansion

Consistent double‑digit revenue growth with simultaneous gross and operating margin expansion indicates durable demand and improving cost structure across assets. This strengthens cash generation capacity, supports reinvestment into portfolio companies and properties, and underpins long‑term profitability resilience.

Strong operating cash flow and free cash flow conversion

Robust operating cash flow and marked free cash flow improvement point to high cash conversion of earnings, enhancing funding for capex, dividends, or acquisitions without heavy reliance on capital markets. This financial flexibility supports durable portfolio development and risk absorption over months to years.

Diversified asset base across growth sectors

A multi‑sector investment model spanning commercial real estate, tech ventures and green energy reduces concentration risk and captures structural growth trends (e.g., renewables, digital services). Diversification smooths revenue volatility and creates multiple durable income streams over the medium term.

Negative Factors

Rising debt level to monitor

Although leverage is currently manageable, an increasing debt trend can erode financial flexibility, raise interest expense, and heighten refinancing risk. If cash flow weakens or rates rise, higher debt could constrain the company's ability to pursue opportunistic investments or sustain dividends over the medium term.

Potential industry classification and strategic mismatch

A mismatch between listed industry and actual diversified operations can lead to misaligned regulatory requirements, investor expectations, and benchmarking. This may complicate capital allocation, reporting comparability, and access to sector‑specific financing or partnerships, introducing structural execution friction.

Execution and partnership dependence risk

The business model relies on successful asset upgrades, operational improvements and co‑development with partners. Execution failures, partner underperformance, or integration delays could impair asset value realization, reduce returns, and weaken cash flows, creating sustained downside risk absent consistent management delivery.

TRE HOLDINGS CORPORATION Business Overview & Revenue Model

Company Description

TRE Holdings Corporation, through its subsidiaries, provides metal and automobiles recycling services in Japan. The company engages in the recycling of waste, home appliances, small consumer electronics, industrial waste, and landfills; renewable energy; environmental engineering businesses; and environmental consulting business. It also provides industrial waste treatment services. The company was incorporated in 2021 and is headquartered in Tokyo, Japan.

How the Company Makes Money

TRE HOLDINGS CORPORATION generates revenue through multiple streams, including rental income from its real estate holdings, equity stakes in technology ventures, and revenue from renewable energy projects. The company capitalizes on market opportunities by investing in undervalued assets and enhancing their value through strategic management and operational improvements. Additionally, TRE Holdings often forms partnerships with established firms and startups to co-develop projects, share resources, and leverage expertise, which further contributes to its revenue. The company's diversified approach helps mitigate risks and stabilize earnings across varying market conditions.

TRE HOLDINGS CORPORATION Financial Statement Overview

Summary

TRE HOLDINGS CORPORATION exhibits strong financial health with impressive revenue and profit growth, efficient cost management, and robust cash flow generation. The company maintains a balanced capital structure, though the rising debt level should be monitored. Overall, the financial statements reflect a positive trajectory with solid operational and financial performance.

Income Statement

TRE HOLDINGS CORPORATION has demonstrated strong revenue growth, with a significant increase from ¥92.86 billion in 2024 to ¥118.68 billion in 2025, representing a 27.8% growth rate. The gross profit margin improved to 29.9% in 2025, indicating efficient cost management. Net profit margin also increased to 10.4%, showing enhanced profitability. EBIT and EBITDA margins improved to 19.2% and 24.0%, respectively, reflecting robust operational performance.

Balance Sheet

The company's debt-to-equity ratio stands at 0.83, indicating a balanced capital structure with manageable leverage. Return on equity improved to 16.8%, showcasing effective utilization of shareholder funds. The equity ratio is stable at 45.2%, suggesting a solid financial foundation. However, the increase in total debt warrants monitoring for potential risks.

Cash Flow

Operating cash flow increased to ¥19.84 billion, supporting strong cash generation capabilities. The free cash flow to net income ratio improved significantly, indicating better cash conversion. Free cash flow growth rate surged by 3235.2%, highlighting substantial improvement in cash flow management. The operating cash flow to net income ratio of 1.61 reflects healthy cash flow relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	125.20B	118.68B	92.86B	90.71B	68.23B	42.06B
Gross Profit	41.45B	35.51B	19.28B	18.33B	15.95B	9.60B
EBITDA	33.33B	28.45B	12.84B	14.57B	13.53B	8.79B
Net Income	15.80B	12.29B	3.62B	5.20B	4.74B	2.27B
Balance Sheet
Total Assets	168.01B	162.05B	142.16B	132.29B	129.52B	87.81B
Cash, Cash Equivalents and Short-Term Investments	31.37B	30.38B	21.13B	24.14B	24.48B	10.75B
Total Debt	66.41B	60.69B	52.60B	48.12B	47.32B	43.87B
Total Liabilities	88.85B	86.62B	73.08B	65.15B	65.35B	53.30B
Stockholders Equity	76.94B	73.16B	67.14B	65.48B	62.59B	33.06B
Cash Flow
Free Cash Flow	-2.73B	7.88B	239.00M	3.48B	6.59B	-1.54B
Operating Cash Flow	190.50M	19.84B	12.19B	9.18B	11.02B	7.40B
Investing Cash Flow	-2.93B	-12.08B	-16.82B	-6.69B	-2.15B	-13.59B
Financing Cash Flow	3.00B	1.51B	1.61B	-2.83B	-3.70B	5.44B

TRE HOLDINGS CORPORATION Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1609.00
• 50DMA: Positive
• 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:9247, the sentiment is Positive. The current price of 1609 is below the 20-day moving average (MA) of 1690.00, below the 50-day MA of 1629.48, and above the 200-day MA of 1502.57, indicating a bullish trend. The MACD of 26.11 indicates Positive momentum. The RSI at 58.98 is Neutral, neither overbought nor oversold. The STOCH value of 39.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9247.

TRE HOLDINGS CORPORATION Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9247	76 Outperform	¥88.05B	5.15	―	2.77%	24.61%	185.90%
9793	73 Outperform	¥165.06B	18.20	10.88%	2.20%	6.63%	-3.05%
5698	73 Outperform	¥25.77B	17.68	―	2.62%	-9.37%	590.66%
6566	73 Outperform	¥23.12B	15.11	―	1.92%	4.09%	9.96%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
4657	56 Neutral	¥2.11B	77.00	―	1.93%	-1.19%	-89.91%

TRE HOLDINGS CORPORATION Corporate Events

TRE HOLDINGS Corrects Bond Classification in Semi-Annual Balance Sheet With No Impact on Earnings

TRE HOLDINGS CORPORATION announced it has corrected certain items in its semi-annual consolidated balance sheet for the six months ended September 30, 2025, originally released in November 2025. The company had failed to reclassify the portion of bonds payable maturing within one year from non-current liabilities to current liabilities, resulting in incorrect figures for “current portion of bonds payable” and “bonds payable” on the balance sheet. The restatement is limited to this classification error and does not affect the company’s semi-annual consolidated operating results, meaning profitability and cash flow metrics remain unchanged. While the correction is accounting in nature, it underscores the importance of accurate debt classification for investors and creditors who rely on current versus long-term liability distinctions to assess liquidity and financial risk.

The most recent analyst rating on (JP:9247) stock is a Buy with a Yen1879.00 price target. To see the full list of analyst forecasts on TRE HOLDINGS CORPORATION stock, see the JP:9247 Stock Forecast page.

TRE HOLDINGS Nears ¥2 Billion Buyback Cap as Treasury Share Acquisition Completed

TRE HOLDINGS CORPORATION has completed a share buyback program authorized by its board on August 8, 2025, acquiring a total of 1,264,400 common shares for approximately ¥1.9999 billion via market purchases on the Tokyo Stock Exchange through January 20, 2026, close to the approved ceiling of 1.5 million shares and ¥2.0 billion. The latest tranche, executed between January 1 and January 20, 2026, comprised 190,300 shares for about ¥318 million, marking the effective completion of the program and signaling an active capital allocation policy that may enhance shareholder value and adjust the company’s capital structure by reducing the number of shares outstanding.

The most recent analyst rating on (JP:9247) stock is a Buy with a Yen1944.00 price target. To see the full list of analyst forecasts on TRE HOLDINGS CORPORATION stock, see the JP:9247 Stock Forecast page.

TRE HOLDINGS Nears Completion of ¥2 Billion Share Buyback Program

TRE HOLDINGS CORPORATION has reported the latest status of its ongoing share buyback program authorized by its board in August 2025, under which it can repurchase up to 1.5 million shares for a maximum of 2.0 billion yen through March 31, 2026 via market purchases on the Tokyo Stock Exchange. During December 1–31, 2025, the company bought 244,800 of its common shares for 388.2 million yen, bringing cumulative repurchases under this authorization to 1,074,100 shares at a total cost of about 1.68 billion yen as of December 31, 2025, indicating that the program is largely executed and may support capital efficiency and shareholder value by reducing the free float of its stock.

The most recent analyst rating on (JP:9247) stock is a Buy with a Yen1677.00 price target. To see the full list of analyst forecasts on TRE HOLDINGS CORPORATION stock, see the JP:9247 Stock Forecast page.

TRE HOLDINGS CORPORATION Reports Treasury Share Acquisition

TRE HOLDINGS CORPORATION announced the acquisition of 314,500 treasury shares for approximately 490.7 million yen during November 2025. This move is part of a broader strategy approved by the Board of Directors to acquire up to 1.5 million shares, reflecting the company’s ongoing efforts to manage its capital structure effectively.

The most recent analyst rating on (JP:9247) stock is a Buy with a Yen1677.00 price target. To see the full list of analyst forecasts on TRE HOLDINGS CORPORATION stock, see the JP:9247 Stock Forecast page.

TRE HOLDINGS Reports Interim Results and Strategic Alliance

TRE HOLDINGS CORPORATION has released its interim results for the fiscal year ending March 2026, highlighting changes in net sales and operating profit across its segments. The company is actively responding to the 2024 Noto Peninsula Earthquake and has entered into a capital and business alliance with Mizuho Leasing, which could enhance its market positioning and operational capabilities.

The most recent analyst rating on (JP:9247) stock is a Buy with a Yen1691.00 price target. To see the full list of analyst forecasts on TRE HOLDINGS CORPORATION stock, see the JP:9247 Stock Forecast page.

TRE HOLDINGS Reports Strong Financial Growth for H1 2025

TRE HOLDINGS CORPORATION reported significant growth in its financial results for the six months ending September 30, 2025, with a notable increase in net sales and profits compared to the previous year. The company also announced a forecast for the fiscal year ending March 31, 2026, expecting a slight increase in net sales and a stable profit attributable to owners, indicating a strong market position and potential positive implications for stakeholders.

The most recent analyst rating on (JP:9247) stock is a Buy with a Yen1691.00 price target. To see the full list of analyst forecasts on TRE HOLDINGS CORPORATION stock, see the JP:9247 Stock Forecast page.

TRE HOLDINGS CORPORATION Advances Treasury Share Acquisition

TRE HOLDINGS CORPORATION announced the acquisition of 261,600 treasury shares worth 403,822,700 yen during October 2025, as part of a broader plan approved in August to repurchase up to 1.5 million shares. This strategic move aims to enhance shareholder value and optimize capital structure, reflecting the company’s proactive approach in managing its equity and market presence.

The most recent analyst rating on (JP:9247) stock is a Buy with a Yen1691.00 price target. To see the full list of analyst forecasts on TRE HOLDINGS CORPORATION stock, see the JP:9247 Stock Forecast page.