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Apple International Co., Ltd. (2788) AI Stock Analysis

JP:2788

Apple International Co., Ltd.

(TSE/TYO:2788)

Select Model
Rating:72Outperform
Price Target:JPY 457.00â–²(20.90% Upside)
Action:reiterated
Date:08/20/26

The overall score is driven primarily by the stock’s strong valuation and solid upward price trend, which are supported by a healthy balance sheet but constrained by thin profitability and chronically weak cash generation that add meaningful risk and cap the rating in the low 70s.

Positive Factors
Prior Revenue ExpansionStrong revenue expansion through 2023–2024 indicates the dealership platform has demonstrated an ability to grow its sales base and capture market demand, providing a foundation for recovery if operating conditions stabilize.
Negative Factors
Persistent Negative Cash FlowMulti-year negative operating and free cash flow indicates weak conversion of reported profits into cash. Working-capital swings or funding needs could constrain reinvestment and increase dependence on external financing during downturns.

Apple International Co., Ltd. (2788) vs. iShares MSCI Japan ETF (EWJ)

-10%0%10%20%30%40%JP:2788+14.20%EWJ+16.91%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
JPY 4.90B
Dividend Yield
2.64%
Average Volume (3M)
66.62K
Price to Earnings (P/E)
3.9
Beta (1Y)
0.52
Revenue Growth
18.28%
EPS Growth
96.51%
Country
Japan
Employees
83
Sector
Consumer Cyclical
Sector Strength
61
Industry
Auto - Dealerships

Apple International Co., Ltd. Business Overview & Revenue Model

Company Description

Specializing in the pre-owned vehicle market, Apple International Co., Ltd. conducts the acquisition, sale, and global export of used cars. Beyond its direct trading activities, the company extends its operations to include a used car franchise syste...

How the Company Makes Money

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Apple International Co., Ltd. Financial Statement Overview

Summary

Revenue has grown steadily and equity has strengthened with manageable debt, but falling margins and persistently negative operating and free cash flows materially weaken overall financial quality and raise liquidity risk.

Income Statement

72Positive

Balance Sheet

78Positive

Cash Flow

35Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue46.52B40.81B43.80B30.91B29.22B18.66B
Gross Profit3.44B3.02B3.82B3.45B3.55B1.96B
EBITDA986.64M479.45M1.67B1.38B1.80B675.36M
Net Income1.24B787.81M1.20B1.01B1.33B403.36M
Balance Sheet
Total Assets22.71B20.54B19.77B16.87B15.96B14.20B
Cash, Cash Equivalents and Short-Term Investments4.37B4.73B4.38B4.50B4.46B4.58B
Total Debt9.01B8.15B7.91B6.61B6.63B5.86B
Total Liabilities11.35B9.65B9.59B7.90B8.01B7.36B
Stockholders Equity10.69B10.27B9.59B8.43B7.47B6.40B
Cash Flow
Free Cash Flow0-93.34M-1.23B-290.00M-626.08M2.72B
Operating Cash Flow0-70.73M-1.21B-275.00M-608.65M2.75B
Investing Cash Flow0387.05M-25.63M449.62M-24.68M-437.46M
Financing Cash Flow035.94M1.10B-138.88M491.05M-135.20M

Apple International Co., Ltd. Technical Analysis

Technical Analysis SentimentNegative
Last Price378.00

Price Trends

50DMA404.16Negative
100DMA392.32Negative
200DMA371.62Positive

Market Momentum

MACD-6.36Positive
RSI35.91Neutral
STOCH12.57Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2788, the sentiment is Negative. The current price of 378.00 is below the 20-day moving average (MA) of 393.55, below the 50-day MA of 404.16, and above the 200-day MA of 371.62, indicating a neutral trend. The MACD of -6.36 indicates Positive momentum. The RSI at 35.91 is Neutral, neither overbought nor oversold. The STOCH value of 12.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2788.

Apple International Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

JP:2788 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
JP:4732JP:473277OutperformJPY 823.70B19.6321.34%3.23%11.30%12.09%
JP:2788JP:278872OutperformJPY 5.28B3.94―2.64%18.28%96.51%
JP:3184JP:318464NeutralJPY 8.78B6.80―1.67%3.04%4.42%
Sector *61Neutral$18.38B12.79-2.54%3.03%1.52%-15.83%
JP:3186JP:318661NeutralJPY 190.42B10.26―1.83%23.54%111.44%
JP:7599JP:759956NeutralJPY 96.19B8.05―3.73%16.85%-1.43%
JP:7602JP:760248NeutralJPY 3.21B17.13―0.65%3.64%―

* Consumer Cyclical Sector Average

Performance Comparison

0%50%100%JP:2788JP:4732JP:3184JP:3186JP:7599JP:7602Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
JP:2788 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
JP:2788Apple International Co., Ltd.378.0047.0014.20%
JP:4732USS Co 1795.50154.689.43%
JP:3184International Conglomerate of Distribution for Automobile Holdings Co., Ltd.4110.00-219.60-5.07%
JP:3186Nextage Co., Ltd.2420.00105.414.55%
JP:7599IDOM Inc.961.00-163.55-14.54%
JP:7602Carchs Holdings Co., Ltd.153.0018.9314.12%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 20, 2026