Mammy Mart Corporation (9823) AI Stock Analysis

• Market Cap: ¥91.07B
• Dividend Yield: 1.34%
• Average Volume (3M): 73.79K
• Price to Earnings (P/E): 11.4
• Beta (1Y): 0.47
• Revenue Growth: 20.50%
• EPS Growth: 10.77%
• Country: JP
• Employees: 1,041
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Grocery Stores
• EPS (TTM): 33.79
• Shares Outstanding: 53,983,967
• 10 Day Avg. Volume: 56,990
• 30 Day Avg. Volume: 73,793
• PEG Ratio: 1.21
• Price to Book (P/B): 1.62
• Price to Sales (P/S): 0.36
• P/FCF Ratio: 28.03
• 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: ¥1,966.00 ▲(34.01% Upside)
• Action: Reiterated Date: 12/19/25
• Date: Action: Reiterated 12/19/25

Mammy Mart Corporation's stock score is driven by solid financial performance and positive technical indicators. The company's consistent revenue growth and effective equity utilization are key strengths, although challenges in profit margins and debt management persist. The stock's valuation is reasonable, and technical analysis suggests a bullish trend, contributing to a favorable outlook.

Positive Factors

Omni‑channel model & private‑label

Mammy Mart's combination of physical stores and an online platform plus private‑label products and local supplier ties creates durable customer reach and SKU control. This diversified sales mix supports steady demand, margin capture on store brands, and resilience versus single‑channel peers.

Sustained revenue growth

High historical revenue growth indicates expanding market penetration and successful execution across channels. Sustained top‑line expansion gives management scope to invest in supply chain, technology and store refreshes, supporting longer‑term competitiveness and operating leverage opportunities.

Efficient capital use (ROE) with manageable leverage

A mid‑teens ROE reflects effective deployment of shareholder capital in a low‑margin retail sector, while a sub‑0.5 D/E indicates leverage is present but not excessive. Together this supports reinvestment capacity and financial flexibility for expansion or modernization.

Negative Factors

Thin net profit margins

Low net margins constrain the firm's ability to absorb cost shocks or fund strategic investments internally. Persistent margin compression and declining operating margins magnify sensitivity to commodity inflation, wage pressure and intense price competition common in grocery retail.

Rising reliance on debt

An increasing debt load reduces financial flexibility and raises interest‑service requirements. In a low‑margin sector, higher leverage can constrain capital allocation, increase vulnerability to rate rises, and limit the company's ability to pursue larger M&A or capex without refinancing risk.

Volatile free cash flow conversion

Fluctuating free cash flow and weaker FCF-to-net‑income conversion suggest earnings do not consistently translate into discretionary cash. This limits capacity for sustained dividends, buybacks or rapid deleveraging and implies management may need to prioritize FCF stability over growth investments.

Mammy Mart Corporation Business Overview & Revenue Model

Company Description

Mammy Mart Corporation (9823) is a retail company specializing in grocery and convenience store operations. With a focus on providing quality products at competitive prices, Mammy Mart offers a wide range of items including fresh produce, dairy, canned goods, household supplies, and personal care products. The company operates both physical storefronts and an online shopping platform, catering to a diverse customer base across urban and suburban areas.

How the Company Makes Money

Mammy Mart Corporation generates revenue primarily through the sale of groceries and convenience items in its stores and online. Key revenue streams include in-store sales, e-commerce transactions, and loyalty program memberships that encourage repeat purchases. The company also benefits from partnerships with local food suppliers and distributors, which help maintain a steady supply of fresh products and seasonal promotions. Additionally, Mammy Mart may engage in private label branding, where it offers store-branded products at lower prices compared to national brands, further enhancing its profit margins. Seasonal promotions and community engagement initiatives also drive foot traffic and sales, contributing to overall earnings.

Mammy Mart Corporation Financial Statement Overview

Summary

Mammy Mart Corporation demonstrates solid financial health with consistent revenue growth and effective equity utilization. However, the company faces challenges in maintaining profit margins and managing debt levels. Cash flow management shows improvement, but further stability is needed to ensure long-term financial resilience.

Income Statement

Mammy Mart Corporation has shown consistent revenue growth over the years, with a notable 5.23% increase in the latest period. The gross profit margin is stable at around 23%, although it has slightly decreased from previous years. The net profit margin is modest at 2.71%, reflecting competitive pressures in the grocery industry. EBIT and EBITDA margins have slightly declined, indicating some pressure on operational efficiency.

Balance Sheet

The company's debt-to-equity ratio has increased to 0.47, suggesting a higher reliance on debt financing, but it remains manageable. Return on equity is strong at 12.38%, indicating effective use of shareholder funds. The equity ratio is stable, showing a balanced approach to asset financing.

Cash Flow

Operating cash flow is robust, but the free cash flow has seen fluctuations, with a recent positive turnaround. The operating cash flow to net income ratio is healthy, but the free cash flow to net income ratio is lower, indicating potential reinvestment or debt servicing needs.

Breakdown	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	193.69B	160.74B	145.04B	133.00B	136.68B
Gross Profit	44.50B	39.05B	36.53B	34.47B	34.92B
EBITDA	10.60B	9.29B	8.16B	6.98B	7.79B
Net Income	5.25B	4.73B	4.31B	3.42B	3.93B
Balance Sheet
Total Assets	86.79B	73.38B	66.43B	60.92B	57.29B
Cash, Cash Equivalents and Short-Term Investments	2.52B	2.65B	6.91B	2.84B	3.26B
Total Debt	19.91B	14.45B	5.33B	10.94B	9.68B
Total Liabilities	44.37B	35.47B	32.42B	28.86B	28.01B
Stockholders Equity	42.37B	37.87B	33.98B	32.03B	29.25B
Cash Flow
Free Cash Flow	2.45B	-2.73B	12.31B	1.23B	4.68B
Operating Cash Flow	10.18B	925.00M	14.71B	4.33B	6.93B
Investing Cash Flow	-9.77B	-5.74B	-2.50B	-2.83B	-1.95B
Financing Cash Flow	-543.00M	560.00M	-8.14B	-1.91B	-4.23B

Mammy Mart Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1467.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9823, the sentiment is Positive. The current price of 1467 is below the 20-day moving average (MA) of 1582.90, below the 50-day MA of 1514.38, and above the 200-day MA of 1364.51, indicating a bullish trend. The MACD of 69.31 indicates Negative momentum. The RSI at 63.73 is Neutral, neither overbought nor oversold. The STOCH value of 49.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9823.

Mammy Mart Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
7508	76 Outperform	¥62.62B	7.88	―	2.85%	11.38%	4.28%
3539	75 Outperform	¥83.11B	35.25	―	0.70%	8.48%	26.56%
8167	74 Outperform	¥56.43B	19.57	―	3.31%	4.92%	19.73%
2742	72 Outperform	¥93.82B	10.82	―	1.47%	7.75%	-1.68%
9823	71 Outperform	¥91.07B	11.40	―	1.34%	20.50%	10.77%
7596	66 Neutral	¥32.18B	14.62	―	2.22%	7.94%	-8.55%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%