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Mizuno
(8022)
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Rating:71Outperform
Price Target:
¥4,763.00
▲(16.88% Upside)
Action:Upgraded
Date:08/11/26
The score is primarily driven by solid financial performance (strong growth and improved profitability with generally low leverage), partially offset by inconsistent cash-flow conversion. Technicals are supportive due to a strong uptrend, but overbought signals raise near-term risk. Valuation appears fair with a modest dividend yield.
Positive Factors
Consistent Revenue Growth
Sustained multi-year top-line growth indicates durable demand across product lines and channels. Consistent revenue expansion supports scale benefits, steadier investment in product development and distribution, and provides a base for margin recovery even if cyclicality returns.
Negative Factors
Volatile Cash Conversion
Large swings in operating and free cash flow reflect inconsistent working-capital management and make funding capex, dividends, or buybacks less predictable. Persistent volatility can stress liquidity during downturns and complicate long-term planning despite accounting profits.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
Sustained multi-year top-line growth indicates durable demand across product lines and channels. Consistent revenue expansion supports scale benefits, steadier investment in product development and distribution, and provides a base for margin recovery even if cyclicality returns.
Read all positive factors
Mizuno (8022) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥320.75B
Dividend Yield1.48%
Average Volume (3M)250.66K
Price to Earnings (P/E)15.9
Beta (1Y)1.07
Revenue Growth9.85%
EPS Growth30.70%
CountryJP
Employees3,682
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)255.41
Shares Outstanding79,734,726
10 Day Avg. Volume259,690
30 Day Avg. Volume250,656
Financial Highlights & Ratios
PEG Ratio0.68
Price to Book (P/B)1.49
Price to Sales (P/S)1.00
P/FCF Ratio17.72
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)257.54
Revenue Forecast (FY)¥278.27B
Mizuno Business Overview & Revenue Model
Company Description
Mizuno Corporation is a global enterprise specializing in the production and distribution of athletic goods. Its operations span across Japan, Europe, the Americas, Asia, and Oceania. The company's diverse offerings include baseball equipment, a w...
How the Company Makes Money
Mizuno makes money primarily by selling sporting goods—especially athletic footwear, sports apparel, and sports equipment—through wholesale and retail distribution. Revenue is generated from product sales to retailers and distributors as well as d...
Mizuno Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 267.02B | 259.05B | 240.34B | 229.71B | 212.04B | 172.74B |
| Gross Profit | 109.63B | 105.28B | 95.57B | 88.21B | 78.51B | 69.45B |
| EBITDA | 30.78B | 29.19B | 25.10B | 23.43B | 16.63B | 13.84B |
| Net Income | 19.52B | 18.38B | 15.24B | 14.31B | 9.91B | 7.72B |
Balance Sheet | ||||||
| Total Assets | 250.29B | 251.47B | 218.48B | 206.15B | 197.52B | 166.36B |
| Cash, Cash Equivalents and Short-Term Investments | 49.02B | 46.02B | 32.40B | 31.96B | 23.84B | 24.43B |
| Total Debt | 22.75B | 25.11B | 16.60B | 13.40B | 24.81B | 11.21B |
| Total Liabilities | 71.10B | 77.19B | 61.35B | 64.08B | 73.24B | 53.89B |
| Stockholders Equity | 178.17B | 173.36B | 156.35B | 141.45B | 123.74B | 111.98B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 14.58B | 3.73B | 20.11B | -12.43B | 10.14B |
| Operating Cash Flow | 0.00 | 17.31B | 7.01B | 21.41B | -8.05B | 12.04B |
| Investing Cash Flow | 0.00 | -5.28B | -3.51B | 131.00M | -4.45B | -2.18B |
| Financing Cash Flow | 0.00 | 1.10B | -4.01B | -14.01B | 11.01B | -8.77B |
Mizuno Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥1.01T | 20.87 | 49.71% | 3.47% | 6.32% | 6.95% | |
71 Outperform | ¥320.75B | 15.88 | 11.14% | 1.67% | 9.85% | 30.70% | |
68 Neutral | ¥89.05B | 14.38 | ― | 2.11% | 6.44% | 14.03% | |
62 Neutral | ¥51.99B | 130.75 | ― | 3.31% | 2.60% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | ¥10.73B | -68.40 | ― | 3.08% | 1.52% | -207.24% | |
49 Neutral | ¥1.69T | -26.21 | -14.02% | ― | 10.86% | 69.63% |
* Consumer Cyclical Sector Average
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Mizuno Corporate Events
Mizuno Cuts Treasury Share Disposal for Employee Stock Plan After Partial Forfeiture
Aug 10, 2026
Mizuno Corporation has completed payment procedures for the disposal of treasury shares used as restricted stock incentives under its Employee Stock Ownership Plan. The disposal, approved by the board in May 2026, involves a third-party allotment ...
Mizuno Delivers Strong Q1 Earnings and Confirms Outlook as APAC Expansion Advances
Aug 7, 2026
Mizuno reported strong results for the first quarter of the fiscal year ending March 31, 2027, with net sales rising 12.6% year on year to ¥71.5 billion and operating profit jumping 33.1% to ¥8.36 billion. Profit attributable to owners o...
Mizuno Completes Restricted Stock Treasury Share Disposal for Executive Remuneration
Jul 23, 2026
Mizuno Corporation has completed payment procedures for the disposal of 27,812 treasury shares as restricted stock remuneration, following a resolution passed by its Board of Directors on June 24, 2026. The transaction, finalized on July 23, 2026,...
Mizuno to Grant ¥93 Million in Restricted Stock to Executives via Treasury Share Disposal
Jun 24, 2026
Mizuno Corporation has approved the disposal of 27,812 treasury shares as restricted stock remuneration for four directors and nine executive officers, with a total value of ¥93.4 million at ¥3,360 per share. The grant is made under an e...
Mizuno to Issue Restricted Treasury Shares for Employee Stock Ownership Plan
May 12, 2026
Mizuno has approved the disposal of up to 45,045 treasury shares as restricted stock to its Employee Stock Ownership Plan, with a planned issue price of ¥3,365 per share and a potential maximum value of about ¥151.6 million, depending on...
Mizuno Overhauls Top Management and Governance Ahead of June 2026
May 12, 2026
Mizuno announced a broad reshuffle of its leadership, with the Board approving changes to representative directors, directors, audit and supervisory committee members, and executive officers effective June 24, 2026, pending shareholder approval. R...
Mizuno boosts profits and cash reserves as it targets further growth in FY2027
May 12, 2026
Mizuno reported consolidated net sales of ¥259.0 billion for the fiscal year ended March 31, 2026, up 7.8% year on year, with operating profit rising 8.8% to ¥22.6 billion and profit attributable to owners of parent climbing 20.6% to ...
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.