Obermatt

Mercari

TYO:4385 · JP3921290007
Internet & Direct Marketing RetailLarge

360

51
EV / EBIT52
Price / Owner Earnings46
Owner Earnings Yield65
Dividend Yield1
Price/Sales35
EV / Gross Profit29
Price/Book22
Return on Capital67
Cash Return on Capital84
Return on Equity87
EBIT Margin92
Gross Profitability34
Cash Conversion1
Accruals3
Owner Earnings Margin90
Sales growth77
Profit Growth69
Long-Term EPS Growth54
Owner Earnings Growth62
Reinvestment95
Price momentum92
Debt load9
Refinancing90
Debt Payback51
Liquidity78
Analyst ratings36
Opinion Changes58
Price Target Upside47
Market mood35
Value Creation20/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Mercari generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountryJapan
IndustryInternet & Direct Marketing Retail
SizeLarge
TypePublic Company
ExchangeTSE
Founded2013
Employees1,196
ISINJP3921290007
Last UpdateApr 2, 2026
Themes
Social Media AdvertisingCryptocurrencyOnline PaymentsCollaborative ConsumptionFintechApp MarketingBlockchainDecentralized FinanceVirtual CurrencyE-CommerceInternetMobile

Description

Mercari, Inc. plans, develops, and operates Mercari marketplace applications. The platform offers a convenient and user-friendly interface, enabling individuals to sell unwanted items while purchasing second-hand goods from other users. The company'…

Analysis

Middle-of-the-road

Mercari, Inc. sits in the middle of our grid: average quality, average price, no obvious signal in either direction. Worth noting: the cash the business generates has lagged behind what the income statement shows.

On valuation, the picture is fair. The owner-earnings multiple stands at 16.4×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 4% a year, against analyst forecasts of 8%. The price, in other words, assumes less than the experts do.

Growth is moderate; the safety picture is adequate. The company scores 20/20 on our value-creation score: strong value creator.

Flags to be aware of: Some accounting patterns deserve a closer look. Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
85
2023202420252026

All-time high

85

Jun 2026

All-time low

6

Jan 2024

Average rank

42

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
35
27
15
5
Price/Earnings
60
28
17
3
Price/Book
22
22
14
7
Dividend Yield
1
15
1
1
Value (overall)
30
9
3
1

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →