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Mugen Estate Co., Ltd.
(3299)
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Rating:62Neutral
Price Target:
¥1,843.00
▼(-1.18% Downside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by mixed fundamentals: strong recent profitability and margin improvement are offset by elevated/rising leverage and notably volatile cash generation with negative operating and free cash flow in 2025. Valuation is a clear positive with a low P/E and high dividend yield, but technical indicators are bearish (below key moving averages with negative MACD), which tempers the overall rating.
Positive Factors
Revenue and Margin Recovery
The strong rebound in revenue and expansion of gross and EBIT margins indicate improved execution in acquiring, renovating, and reselling properties. Sustained profitability provides a stronger earnings base, although future performance remains linked to transaction volumes and property sourcing.
Negative Factors
Elevated and Rising Leverage
Higher debt increases financing obligations and reduces flexibility if property sales slow or funding costs rise. Because inventory must be carried before resale, elevated leverage can amplify earnings and balance-sheet downside during a weaker residential property cycle.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Margin Recovery
The strong rebound in revenue and expansion of gross and EBIT margins indicate improved execution in acquiring, renovating, and reselling properties. Sustained profitability provides a stronger earnings base, although future performance remains linked to transaction volumes and property sourcing.
Read all positive factors
Mugen Estate Co., Ltd. (3299) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥41.65B
Dividend Yield6.96%
Average Volume (3M)98.55K
Price to Earnings (P/E)8.7
Beta (1Y)0.75
Revenue Growth-2.46%
EPS Growth-26.95%
CountryJP
Employees501
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)226.57
Shares Outstanding24,361,000
10 Day Avg. Volume88,690
30 Day Avg. Volume98,553
Financial Highlights & Ratios
PEG Ratio0.66
Price to Book (P/B)1.22
Price to Sales (P/S)0.64
P/FCF Ratio-4.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)319.4
Revenue Forecast (FY)¥78.70B
Mugen Estate Co., Ltd. Business Overview & Revenue Model
Company Description
MUGEN ESTATE Co.,Ltd. is a Japanese company that specializes in the acquisition and resale of pre-owned real estate assets. Its operations are segmented into Real Estate Trading, and Real Estate Leasing and Other Services. The company's diverse po...
How the Company Makes Money
The company primarily makes money through a value-add real estate resale model. It purchases pre-owned residential properties (inventory), invests in refurbishment/renovation and repositioning, and then sells the properties; revenue is recognized ...
Mugen Estate Co., Ltd. Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
63
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 63.63B | 68.26B | 62.19B | 51.64B | 31.24B | 33.96B |
| Gross Profit | 16.51B | 18.28B | 16.57B | 11.41B | 7.15B | 5.79B |
| EBITDA | 10.25B | 11.94B | 10.45B | 6.68B | 3.66B | 2.98B |
| Net Income | 5.30B | 6.66B | 6.09B | 3.65B | 1.56B | 1.28B |
Balance Sheet | ||||||
| Total Assets | 108.44B | 106.70B | 87.50B | 80.36B | 77.45B | 62.78B |
| Cash, Cash Equivalents and Short-Term Investments | 18.16B | 20.72B | 22.02B | 20.42B | 17.75B | 17.57B |
| Total Debt | 66.44B | 62.74B | 48.82B | 47.65B | 49.31B | 36.86B |
| Total Liabilities | 73.83B | 70.89B | 55.43B | 52.52B | 52.84B | 39.23B |
| Stockholders Equity | 34.62B | 35.80B | 32.08B | 27.84B | 24.60B | 23.55B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -10.58B | 2.42B | 4.86B | -11.65B | 2.13B |
| Operating Cash Flow | 0.00 | -6.76B | 2.60B | 5.37B | -11.49B | 3.31B |
| Investing Cash Flow | 0.00 | -4.97B | -312.00M | -498.00M | -157.00M | -1.22B |
| Financing Cash Flow | 0.00 | 10.40B | -825.00M | -2.15B | 11.85B | -621.00M |
Mugen Estate Co., Ltd. Technical Analysis
Negative
1865.00
Price Trends
1827.85
Negative
1898.92
Negative
1955.53
Negative
Market Momentum
-40.08
Positive
40.23
Neutral
76.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3299, the sentiment is Negative. The current price of 1865 is above the 20-day moving average (MA) of 1793.95, above the 50-day MA of 1827.85, and below the 200-day MA of 1955.53, indicating a bearish trend. The MACD of -40.08 indicates Positive momentum. The RSI at 40.23 is Neutral, neither overbought nor oversold. The STOCH value of 76.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3299.
Mugen Estate Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ¥12.32B | 5.96 | ― | 2.26% | 7.71% | 3.72% | |
68 Neutral | ¥3.06T | 8.17 | 12.88% | 3.32% | 4.66% | 16.74% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | ¥6.23B | 12.19 | 2.94% | 4.53% | -12.15% | -27.60% | |
62 Neutral | ¥41.65B | 8.74 | ― | 6.02% | -2.46% | -26.95% | |
59 Neutral | ¥61.47B | 8.51 | 5.86% | 7.35% | 24.52% | 5.03% | |
55 Neutral | ¥113.93B | 12.23 | 4.34% | 3.00% | 10.56% | 44.81% |
* Real Estate Sector Average
JP:3299
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Mugen Estate Co., Ltd. Corporate Events
Mugen Estate Confirms Higher Interim Dividend and Steady Payout Policy
Aug 7, 2026
Mugen Estate Co., Ltd. has approved an interim dividend for the fiscal year ending December 31, 2026, maintaining its stance as a stable income provider in Japan’s real estate sector. The dividend, with a record date of June 30, 2026, unders...
Mugen Estate Profit Slides as Real Estate Headwinds Force Lower 2026 Outlook
Aug 7, 2026
Mugen Estate reported a sharp deterioration in results for the six months to June 30, 2026, with net sales down 18.8% to ¥26.7 billion and profit attributable to owners of parent plunging 60.2% to ¥1.32 billion, while its equity ratio ea...
Mugen Estate Cuts 2026 Earnings and Dividend Forecast Amid Slower Property Sales
Aug 7, 2026
Mugen Estate Co., Ltd. has sharply revised down its consolidated earnings forecast for the year ending December 31, 2026, citing weaker demand from overseas investors and sluggish sales of large properties in its mainstay Real Estate Purchase and ...
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.