Mammy Mart Corporation (9823) AI Stock Analysis

• Market Cap: ¥74.17B
• Dividend Yield: 1.34%
• Average Volume (3M): 73.79K
• Price to Earnings (P/E): 11.4
• Beta (1Y): 0.54
• 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: 1.22
• 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: ¥1,519.00 ▲(3.54% 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

Consistent revenue growth

Consistent revenue growth provides a durable sales base and supports economies of scale. Sustained top-line expansion enables reinvestment in stores and e-commerce, funds loyalty and private-label programs, and underpins long-term competitive positioning and cash generation.

Robust operating cash flow

Robust operating cash flow and a recent positive free-cash-flow turnaround improve ability to fund capex, inventory and loyalty initiatives internally. Reliable cash generation reduces dependency on external financing and supports debt servicing and operational continuity across cycles.

Strong return on equity

A ROE of 12.38% signals effective capital allocation by management. Strong ROE supports sustainable reinvestment into store and digital channels, helps justify dividend/distribution policy, and demonstrates capacity to convert equity into lasting shareholder value over time.

Negative Factors

Thin net profit margins

A net margin of 2.71% and declining EBIT/EBITDA margins reflect structurally tight profitability in grocery retail. Persistently thin margins reduce buffers against input cost inflation, limit reinvestment capacity, and make earnings more vulnerable to supply chain and wage shocks.

Rising leverage

An increased debt-to-equity ratio of 0.47 indicates greater reliance on leverage. Given low net margins, higher leverage elevates interest and refinancing risk, constrains strategic flexibility for expansion or tech investment, and can strain cash flow under adverse conditions.

Volatile free cash flow

Fluctuating free cash flow and a low FCF-to-net-income ratio reduce predictability of funds for growth, dividends or debt paydown. Variability may force periodic external financing or cutbacks in investment, complicating multi-quarter planning and capital allocation.

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	9.99B	8.93B	8.10B	6.95B	7.77B
Net Income	5.25B	4.73B	4.31B	3.42B	3.93B
Balance Sheet
Total Assets	91.94B	77.03B	66.43B	60.95B	57.33B
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	49.52B	39.12B	32.41B	28.89B	28.05B
Stockholders Equity	42.37B	37.87B	33.98B	32.03B	29.25B
Cash Flow
Free Cash Flow	2.45B	-2.68B	12.38B	1.28B	4.72B
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: Negative
• Last Price: 1467.00
• 50DMA: Negative
• 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:9823, the sentiment is Negative. The current price of 1467 is below the 20-day moving average (MA) of 1599.30, below the 50-day MA of 1509.54, and above the 200-day MA of 1381.14, indicating a bearish trend. The MACD of -34.56 indicates Positive momentum. The RSI at 31.67 is Neutral, neither overbought nor oversold. The STOCH value of 2.96 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9823.

Mammy Mart Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8198	78 Outperform	¥113.61B	16.52	―	1.92%	2.30%	26.52%
9974	76 Outperform	¥154.20B	15.86	―	1.64%	10.13%	23.77%
8167	74 Outperform	¥54.67B	19.57	―	3.31%	4.92%	19.73%
2742	72 Outperform	¥92.12B	10.82	―	1.47%	7.75%	-1.68%
8194	72 Outperform	¥216.99B	15.19	―	2.43%	4.48%	13.17%
9823	71 Outperform	¥74.17B	11.40	―	1.34%	20.50%	10.77%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%