Added to YB: 2026-08-04
Pitch date: 2026-07-31
4385.T [neutral]
Mercari, Inc.
-1.11%
current return
Author Info
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Company Info
Mercari, Inc. plans, develops, and operates Mercari marketplace applications in Japan and the United States.
Market Cap
JPY 708.8B
Pitch Price
JPY 4.3K
Price Target
N/A
Dividend
N/A
EV/EBITDA
18.18
P/E
21.44
EV/Sales
3.74
Sector
Broadline Retail
Category
N/A
Mercari (4385): Heads or Tails on 5 August
4385.T (holding update): Repriced from broken growth to operating-leverage story; 9M rev +16.1% to ¥167.3bn, core OP +74.5% to ¥34.9bn (20.8% margin). Guidance raised twice to core OP ≥¥40bn. Stock +52% YTD, above ¥4,000-4,400 DCF/SOTP fair value, 3% FCF yield. Aug 5 print key: reverse DCF implies price needs ¥51bn FY27 core OP, beating mgmt's ≥25% CAGR target. Bull +47% if cross-border/float-credit theses work; bear -57% if trading-card cycle turns w/ +4% MAU. Symmetric coin flip, no margin of safety; hold partial, add only <¥3,700 or on strong guidance.
Read full article (17 min)