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Bull-Dog Sauce Co., Ltd. (2804) AI Stock Analysis
Bull-Dog Sauce Co., Ltd.
(TSE/TYO:2804)
Overall score is driven primarily by mixed financial performance: a solid balance sheet and resilient revenue are offset by historically volatile profitability and cash flow consistency. Technicals add support with a moderately positive trend above key moving averages, while valuation is reasonable with a modest dividend yield but not strongly compelling on P/E.
Bull-Dog Sauce Co., Ltd. (2804) vs. iShares MSCI Japan ETF (EWJ)
- Market Cap
- JPY 23.02B
- Dividend Yield
- 2.40%
- Average Volume (3M)
- 22.69K
- Price to Earnings (P/E)
- 21.4
- Beta (1Y)
- 0.35
- Revenue Growth
- 0.22%
- EPS Growth
- -55.63%
- Country
- Japan
- Employees
- 282
- Sector
- Consumer Defensive
- Sector Strength
- 62
- Industry
- Packaged Foods
Bull-Dog Sauce Co., Ltd. Business Overview & Revenue Model
Company Description
Headquartered in Tokyo, Japan, Bull-Dog Sauce Co., Ltd. is a long-established Japanese firm that began operations in 1902. The company specializes in the manufacturing and distribution of sauces, pasta products, and various seasonings for the Japanes...
How the Company Makes Money
Bull-Dog Sauce Co., Ltd. makes money mainly by selling its manufactured sauces and seasonings under its own brands. Revenue is generated through (1) retail/consumer sales, where packaged sauces are sold via supermarkets, grocery retailers, and other...
Bull-Dog Sauce Co., Ltd. Financial Statement Overview
Summary
Fundamentals are mixed: revenue has been stable to modestly growing, and the balance sheet is conservative with moderate and improving leverage. However, profitability and especially cash generation have been volatile (weak/negative free cash flow in FY2023–FY2024 followed by improvement in FY2025–FY2026), reducing confidence in consistency.
Income Statement
62PositiveBalance Sheet
78PositiveCash Flow
46Neutral| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.71B | 14.69B | 14.62B | 14.48B | 13.53B | 13.30B |
| Gross Profit | 4.75B | 4.74B | 4.22B | 4.32B | 4.35B | 4.50B |
| EBITDA | 1.74B | 1.76B | 1.36B | 1.10B | 1.17B | 1.36B |
| Net Income | 1.07B | 2.44B | 623.68M | 145.41M | 595.77M | 716.87M |
Balance Sheet | ||||||
| Total Assets | 37.45B | 37.31B | 32.47B | 33.75B | 36.30B | 29.76B |
| Cash, Cash Equivalents and Short-Term Investments | 3.99B | 4.73B | 2.46B | 1.99B | 6.06B | 4.59B |
| Total Debt | 3.99B | 4.29B | 4.90B | 6.31B | 5.80B | 742.65M |
| Total Liabilities | 11.32B | 12.04B | 11.03B | 12.29B | 16.04B | 9.62B |
| Stockholders Equity | 26.12B | 25.26B | 21.45B | 21.46B | 20.26B | 20.14B |
Cash Flow | ||||||
| Free Cash Flow | -161.00M | 1.41B | 2.25B | -4.65B | -3.91B | -109.35M |
| Operating Cash Flow | -86.00M | 1.64B | 2.33B | 90.17M | 45.00M | 1.13B |
| Investing Cash Flow | 465.00M | 2.54B | 635.72M | -4.08B | -3.13B | -1.19B |
| Financing Cash Flow | -752.00M | -1.90B | -2.49B | 31.18M | 4.57B | -413.76M |
Bull-Dog Sauce Co., Ltd. Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2804, the sentiment is Neutral. The current price of 1823.00 is below the 20-day moving average (MA) of 1831.05, below the 50-day MA of 1838.41, and above the 200-day MA of 1812.20, indicating a neutral trend. The MACD of -5.83 indicates Negative momentum. The RSI at 49.17 is Neutral, neither overbought nor oversold. The STOCH value of 71.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:2804.
Bull-Dog Sauce Co., Ltd. Peers Comparison
Overall Rating
JP:280175Outperform
JP:280569Neutral
JP:281969Neutral
JP:280968Neutral- JP:280465Neutral
JP:280263Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| JP:2801 | 75Outperform | JPY 1.74T | 26.54 | 11.85% | 1.29% | 9.27% | 12.89% |
| JP:2805 | 69Neutral | JPY 182.45B | 17.60 | ― | 0.75% | 6.99% | 29.27% |
| JP:2819 | 69Neutral | JPY 23.66B | 11.11 | ― | 1.91% | 5.01% | 120.83% |
| JP:2809 | 68Neutral | JPY 637.62B | 25.52 | 7.92% | 1.33% | 4.07% | -6.32% |
| JP:2804 | 65Neutral | JPY 23.11B | 21.43 | ― | 2.40% | 0.22% | -55.63% |
| JP:2802 | 63Neutral | JPY 4.63T | 29.88 | 18.50% | 1.01% | 6.72% | 83.84% |
| Sector * | 62Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% |
* Consumer Defensive Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| JP:2804 | Bull-Dog Sauce Co., Ltd. | 1823.00 | -60.86 | -3.23% | |
| JP:2802 | Ajinomoto Co | 4268.00 | 777.21 | 22.26% | |
| JP:2801 | Kikkoman Corporation | 1775.50 | 410.66 | 30.09% | |
| JP:2809 | Kewpie Corporation | 4616.00 | 461.17 | 11.10% | |
| JP:2805 | S&B Foods Inc. | 7050.00 | 3731.30 | 112.43% | |
| JP:2819 | Ebara Foods Industry, Inc. | 2531.00 | 123.95 | 5.15% |
Bull-Dog Sauce Co., Ltd. Corporate Events
Bull-Dog Sauce Updates Capital- and Stock Price-Conscious Management Policy
Bull-Dog Sauce Co., Ltd. has announced that its Board of Directors approved an updated framework for management that explicitly incorporates the cost of capital and stock price into decision-making. The move, resolved at the August 21, 2026 board mee...
Bull-Dog Sauce Reports Progress on Share Buyback Program
Bull-Dog Sauce Co., Ltd. has disclosed the progress of its ongoing share repurchase program authorized by its board of directors in April and July 2026 under the Companies Act and its articles of incorporation. The buyback targets common shares via o...
Bull-Dog Sauce Advances Share Buyback Under Board-Approved Program
Bull-Dog Sauce Co., Ltd., a TSE Prime-listed food manufacturer specializing in sauces and condiments for the Japanese consumer and retail market, continues to leverage its established brand and stable positioning to support shareholder-focused financ...
Bull-Dog Sauce Expands Share Buyback Program and Sets ToSTNeT-3 Repurchase
Bull-Dog Sauce Co., Ltd. has expanded its previously authorized share repurchase program, increasing the maximum buyback from 280,000 to 660,000 shares and boosting the total repurchase value from JPY 500 million to JPY 1,200 million. The move, drive...
Bull-Dog Sauce Extends Performance-Linked Stock Compensation Plan for Directors to 2031
Bull-Dog Sauce Co., Ltd. will continue its performance-linked stock compensation plan for directors, originally introduced in 2016, to strengthen alignment between management and shareholders over the medium to long term. The plan uses a Board Incent...
Bull-Dog Sauce Q1 Profit Falls Despite Higher Sales, Guidance Signals Weaker Earnings Ahead
Bull-Dog Sauce reported first-quarter consolidated net sales of ¥3.71 billion, up 0.4% year on year, with operating profit rising 23.4% to ¥154 million and ordinary profit more than doubling to ¥890 million. However, profit attributabl...
Bull-Dog Sauce Reports No Share Repurchases Yet Under Approved Buyback Program
Bull-Dog Sauce Co., Ltd. reported that, despite a board resolution on April 24, 2026 authorizing the repurchase of up to 280,000 common shares for a maximum of JPY 500 million, it did not buy back any shares during June 1–30, 2026. As of June 3...
Bull-Dog Sauce Refreshes Independent Committee for Takeover Defense
Bull-Dog Sauce has refreshed the membership of its Independent Committee established under its takeover response policies, following the scheduled departure of outside director and committee member Hiroyasu Ishikawa at the close of the 101st sharehol...
Bull-Dog Sauce Announces No Share Buybacks Yet Under New Repurchase Program
Bull-Dog Sauce has disclosed the status of a board-approved share repurchase program conducted under its Articles of Incorporation and Japan’s Companies Act. The company had authorization to buy back up to 280,000 common shares, or about 2.2% o...
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 21, 2026