Makiya Co., Ltd. (9890) AI Stock Analysis

• Market Cap: ¥12.40B
• Dividend Yield: 2.3%
• Average Volume (3M): 2.91K
• Price to Earnings (P/E): 7.0
• Beta (1Y): 0.42
• Revenue Growth: 10.43%
• EPS Growth: 12.10%
• Country: JP
• Employees: 493
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Grocery Stores
• EPS (TTM): 43.09
• Shares Outstanding: 10,540,200
• 10 Day Avg. Volume: 1,950
• 30 Day Avg. Volume: 2,906
• PEG Ratio: 2.43
• Price to Book (P/B): 0.50
• Price to Sales (P/S): 0.12
• P/FCF Ratio: 5.97
• 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: 73 Outperform
• Price Target: ¥1,350.00 ▲(11.66% Upside)
• Action: Reiterated Date: 11/01/25
• Date: Action: Reiterated 11/01/25

Makiya Co., Ltd. demonstrates strong financial performance with robust revenue growth and efficient cost management. The valuation metrics indicate the stock is undervalued, offering potential upside. However, technical indicators suggest a neutral to slightly bearish short-term trend, which may impact investor sentiment.

Positive Factors

Revenue Growth

Consistent revenue growth indicates robust demand for Makiya's products and effective market penetration, supporting long-term business expansion.

Cash Generation Ability

Strong cash generation ensures financial flexibility, enabling Makiya to invest in growth opportunities and weather economic downturns.

Balance Sheet Health

A strong balance sheet with low leverage enhances Makiya's financial stability and reduces risk, supporting sustainable growth.

Negative Factors

Net Profit Margin

While positive, the relatively low net profit margin suggests limited room for error in cost management, potentially impacting long-term profitability.

Asset Utilization

Inefficient asset utilization may limit Makiya's ability to maximize returns on investments, potentially hindering growth and profitability.

Operating Cash Flow Decrease

Declining operating cash flow could signal challenges in maintaining cash efficiency, impacting Makiya's capacity to fund operations and growth.

Makiya Co., Ltd. Business Overview & Revenue Model

Company Description

Makiya Co., Ltd. engages in the wholesale and retail business of household goods in Japan. The company operates discount stores under the Espot name that offers outdoor, living room, alcoholic beverage, and fresh food products; cash and carry supermarkets; and community-based daily supermarkets under the POTATO name. It also operates hard off stores, which provide personal computers and AV equipment, as well as off house stores that offer furniture and household goods; and general merchandise shops, which provide interior and miscellaneous goods for adults. Makiya Co., Ltd. was incorporated in 1972 and is headquartered in Fuji, Japan.

How the Company Makes Money

Makiya Co., Ltd. generates revenue primarily through the sale of electronic components to manufacturers and businesses in various sectors. Its key revenue streams include direct sales of components, bulk orders for industrial applications, and long-term contracts with major electronics firms. Additionally, Makiya benefits from strategic partnerships with technology companies that enhance its product offerings and market reach. The company's emphasis on research and development allows it to introduce new products, thereby expanding its customer base and increasing sales. Furthermore, Makiya may also engage in after-sales services and technical support, adding another layer to its revenue generation.

Makiya Co., Ltd. Financial Statement Overview

Summary

Makiya Co., Ltd. exhibits strong financial health with impressive revenue growth and efficient cost management. The balance sheet reflects a cautious approach to leverage and a solid equity base, while cash flow metrics underscore the company's ability to generate cash effectively.

Income Statement

Makiya Co., Ltd. has demonstrated strong revenue growth with a 15.66% increase in total revenue from 2024 to 2025. The gross profit margin stands at 24.28%, indicating efficient cost management relative to sales. The net profit margin is a healthy 1.67%, reflecting solid profitability. The EBIT margin is 2.51%, and the EBITDA margin is 4.30%, both showing consistent operational efficiency.

Balance Sheet

The company's balance sheet reveals a stable financial position with a debt-to-equity ratio of 0.30, indicating a conservative approach to leverage. The return on equity (ROE) is 7.20%, which is respectable and suggests effective use of equity capital. The equity ratio is 52.21%, highlighting a strong equity base in the capital structure. Overall, the balance sheet shows stability, although there is room for improvement in asset utilization.

Cash Flow

Makiya Co., Ltd. maintains strong cash flow metrics with a slight decrease in operating cash flow from the previous year but a robust free cash flow position. The operating cash flow to net income ratio is 2.07, indicating strong cash conversion from earnings. The free cash flow to net income ratio is 1.17, suggesting solid free cash flow generation relative to net income.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	91.32B	89.45B	77.33B	71.58B	69.20B	75.76B
Gross Profit	22.13B	21.72B	17.85B	16.82B	16.32B	16.83B
EBITDA	4.07B	3.85B	3.54B	2.92B	2.93B	3.36B
Net Income	1.60B	1.50B	1.45B	1.19B	1.33B	1.40B
Balance Sheet
Total Assets	39.84B	40.52B	38.54B	33.86B	32.52B	32.95B
Cash, Cash Equivalents and Short-Term Investments	3.13B	4.46B	3.96B	2.36B	1.24B	2.87B
Total Debt	5.26B	6.27B	6.79B	5.33B	5.32B	6.22B
Total Liabilities	18.64B	19.73B	19.17B	16.08B	15.81B	17.48B
Stockholders Equity	21.20B	20.80B	19.37B	17.78B	16.72B	15.47B
Cash Flow
Free Cash Flow	0.00	1.76B	2.73B	1.68B	99.34M	2.19B
Operating Cash Flow	0.00	3.10B	3.78B	2.54B	1.73B	3.37B
Investing Cash Flow	0.00	-1.37B	-2.89B	-864.63M	-1.95B	-1.18B
Financing Cash Flow	0.00	-1.23B	700.91M	-556.83M	-1.41B	-1.09B

Makiya Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1209.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9890, the sentiment is Positive. The current price of 1209 is below the 20-day moving average (MA) of 1233.10, below the 50-day MA of 1242.50, and above the 200-day MA of 1189.56, indicating a neutral trend. The MACD of 0.08 indicates Negative momentum. The RSI at 53.52 is Neutral, neither overbought nor oversold. The STOCH value of 91.14 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9890.

Makiya Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4380	78 Outperform	¥5.94B	14.34	―	1.65%	―	―
7643	74 Outperform	¥18.66B	10.84	―	2.12%	12.92%	-30.67%
9890	73 Outperform	¥12.40B	7.01	―	2.30%	10.43%	12.10%
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%
9993	51 Neutral	¥12.62B	29.59	―	2.32%	2.43%	50.53%
7515	48 Neutral	¥4.08B	25.11	―	0.67%	5.74%	14.35%