Boutiques, Inc. (9272) AI Stock Analysis

• Market Cap: ¥15.37B
• Dividend Yield: N/A
• Average Volume (3M): 16.29K
• Price to Earnings (P/E): 9.0
• Beta (1Y): 0.53
• Revenue Growth: 13.72%
• EPS Growth: -82.05%
• Country: JP
• Employees: 196
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): 38.80
• Shares Outstanding: 10,160,400
• 10 Day Avg. Volume: 11,670
• 30 Day Avg. Volume: 16,293
• PEG Ratio: -0.96
• Price to Book (P/B): 6.20
• Price to Sales (P/S): 2.69
• P/FCF Ratio: 9.51
• 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: 71 Outperform
• Price Target: ¥1,693.00 ▲(20.93% Upside)
• Action: Reiterated Date: 02/14/26
• Date: Action: Reiterated 02/14/26

The score is driven primarily by strong financial performance (growth, profitability, and solid balance sheet/cash generation). Technicals are constructive with the stock in an uptrend, but near-overbought signals limit upside confidence. A high P/E meaningfully weighs on the overall score due to elevated valuation risk.

Positive Factors

Revenue growth trend

Consistent five-year revenue growth indicates expanding market reach and sustained customer demand, providing durable top-line momentum. This trend supports scalable operating leverage, helps fund future investments internally, and reduces reliance on external financing over coming quarters.

Profitability and margins

Robust gross margins and an improving net margin reflect pricing power and effective cost management, creating sustainable operating leverage. Strong margin structure enhances free cash flow conversion and resilience across business cycles, supporting reinvestment and long-term profit retention.

Balance sheet and cash generation

Rising operating cash flow and impressive free cash flow, combined with low leverage, deliver financial flexibility. Strong cash generation reduces refinancing risk, enables self-funded growth initiatives or returns to shareholders, and provides optionality for strategic moves over 2-6 months.

Negative Factors

Negative investing cash flow

Negative investing cash flow suggests significant capital deployment or expansion spending that may pressure liquidity if projects underperform. Over the medium term, heavy capex or acquisitions require disciplined execution to deliver returns and avoid eroding free cash flow margins.

Underutilized cash / capital allocation risk

Elevated cash balances can indicate under-deployment of capital and create opportunity-cost risk. If management does not effectively reinvest cash or return it to shareholders, persistent idle liquidity can suppress ROE and limit long-term growth and shareholder value creation.

Negative EPS growth

A large negative EPS growth rate points to earnings volatility despite revenue expansion. This may reflect margin swings, one-offs, or operational inefficiencies; sustained EPS weakness would impair per-share profitability and could signal deeper issues needing strategic remediation.

Boutiques, Inc. Business Overview & Revenue Model

Company Description

Boutiques, Inc. operates in exhibition, M&A brokerage, and human resources recruitment support businesses in Japan. The company operates in the negotiation type exhibition business of nursing care products and equipment under CareTEX name, online exhibitions, and hybrid exhibition of IT/DX field under DXPO name; and M&A brokerage business in the areas of nursing care, hospitals and clinic, disability welfare, IT, dispensing, childcare facility, and construction. It also provides human resources recruitment consulting services to job hunters, as well as introduces new graduates and mid-career personnel; and operates job hunting information site under Jobtra Academy name. Boutiques, Inc. was incorporated in 2006 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Boutiques, Inc. generates revenue through multiple channels, primarily by selling premium fashion merchandise in its physical stores and online. The company employs a direct-to-consumer model, allowing it to maintain higher margins by eliminating intermediaries. Key revenue streams include sales of clothing, footwear, and accessories, with an emphasis on exclusive and seasonal collections that create a sense of urgency among consumers. Additionally, Boutiques, Inc. may engage in strategic partnerships with luxury brands and designers to host exclusive events or limited-edition launches, further driving sales. The company also leverages customer loyalty programs and targeted marketing strategies to enhance repeat purchases, contributing to its overall earnings.

Boutiques, Inc. Financial Statement Overview

Summary

Strong revenue growth and robust profitability (healthy gross margin and improved net margin), supported by rising operating cash flow and free cash flow. Balance sheet strength is solid with low leverage and improving ROE, though negative investing cash flow and potentially underutilized cash suggest some capital-allocation and reinvestment execution risk.

Income Statement

Boutiques, Inc. has demonstrated impressive growth in its total revenue, with a consistent upward trajectory over the past five years. The gross profit margin remains robust, indicating strong pricing power and cost management. The net profit margin has improved significantly, suggesting enhanced operational efficiency. Additionally, EBIT and EBITDA margins reflect strong profitability levels. While the revenue growth is notable, some fluctuations in EBITDA margins suggest potential areas for further cost optimization.

Balance Sheet

The company's balance sheet is solid, with a healthy equity ratio indicating a strong capital structure. The debt-to-equity ratio is low, reflecting prudent financial management and low leverage risk. Return on Equity (ROE) has improved, showcasing effective use of shareholder equity to generate profits. However, the high cash and equivalents position may suggest underutilized capital, which could be more effectively deployed for growth initiatives.

Cash Flow

Cash flow from operations has increased significantly, supporting the company's strong net income figures. The free cash flow growth is impressive, indicating substantial cash generation capabilities. The ratios of operating cash flow to net income and free cash flow to net income are both favorable, highlighting efficient cash management. Despite these strengths, the investing cash flow is negative, which could signal aggressive expansion or capital expenditure needs.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	5.43B	5.17B	4.41B	3.05B	2.09B	1.28B
Gross Profit	4.44B	4.26B	3.79B	2.63B	1.87B	1.11B
EBITDA	751.43M	903.72M	1.11B	981.67M	589.00M	306.95M
Net Income	234.82M	250.94M	608.37M	621.59M	349.42M	198.60M
Balance Sheet
Total Assets	4.98B	5.11B	4.86B	4.33B	2.33B	1.67B
Cash, Cash Equivalents and Short-Term Investments	3.60B	3.77B	3.12B	3.84B	1.95B	1.45B
Total Debt	937.48M	1.02B	1.41B	1.51B	133.50M	409.50M
Total Liabilities	2.95B	2.87B	2.65B	2.47B	972.31M	728.38M
Stockholders Equity	2.03B	2.24B	2.21B	1.85B	1.36B	945.77M
Cash Flow
Free Cash Flow	0.00	1.46B	734.79M	693.56M	807.56M	77.30M
Operating Cash Flow	0.00	1.59B	774.30M	835.79M	878.72M	130.24M
Investing Cash Flow	0.00	-257.54M	-833.21M	-142.24M	-105.19M	-45.17M
Financing Cash Flow	0.00	-680.71M	-660.01M	1.20B	-274.64M	312.39M

Boutiques, Inc. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1400.00
• 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:9272, the sentiment is Neutral. The current price of 1400 is below the 20-day moving average (MA) of 1576.30, below the 50-day MA of 1497.06, and below the 200-day MA of 1416.31, indicating a neutral trend. The MACD of 17.42 indicates Positive momentum. The RSI at 46.03 is Neutral, neither overbought nor oversold. The STOCH value of 20.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:9272.

Boutiques, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9272	71 Outperform	¥15.37B	9.02	―	―	13.72%	-82.05%
3092	65 Neutral	¥960.48B	17.87	49.14%	2.82%	6.80%	0.62%
3093	65 Neutral	¥40.35B	9.40	―	2.19%	17.90%	14.14%
7685	65 Neutral	¥202.14B	27.65	―	0.64%	57.01%	91.03%
4385	63 Neutral	¥576.74B	23.34	31.11%	―	4.83%	106.29%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
9270	59 Neutral	¥24.47B	3.19	―	0.95%	4.14%	―