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Mercari, Inc. logo

Mercari, Inc.

4385.T

JPXConsumer CyclicalSpecialty Retail

Open in GoAI

Latest quote

¥4,487

−¥258 · -5.44%

Aug 24, 2:39 PM JST

4385.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Mercari, Inc. handles the conceptualization, building, and continuous management of its Mercari marketplace applications for customers in both Japan and the United States. The company, headquartered in Tokyo, Japan, commenced operations in 2013.

Industry
Specialty Retail
Sector
Consumer Cyclical
Headquarters
JP
CEO
Shintaro Yamada
Listed since
Jun 19, 2018
Employees
2,159

Market position

Day range

Current ¥4,487

52-week range

Current ¥4,487

Open
¥4,675
Previous close
¥4,745
Volume
2.04M
1.09× average
Average volume
1.88M
Average daily volume
Market cap
741.34B JPY
Beta
1.07
Market reference 1
50-day average
¥4,368.62
+2.71% above average
200-day average
¥3,660.45
+22.58% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
764.52B JPY
P/E (TTM)
20.9×
P/B (TTM)
5.4×
P/S (TTM)
3.23×
EV / EBITDA
16.25×
Earnings yield
5.25%
Free cash flow yield
-1.62%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
73.66%
Operating margin
19.27%
Net margin
15.44%
Return on equity
25.83%
Return on assets
4.87%
Return on invested capital
8.58%

Financial health

Debt / equity
2×
Current ratio
1.49×
Altman Z-score
1.75
Piotroski F-score
4 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends82%50%18%-13%Gross margin, FY2022: 64.70%Gross margin, FY2023: 66.27%Gross margin, FY2024: 69.22%Gross margin, FY2025: 71.77%Gross margin, FY2026: 73.66%Operating margin, FY2022: -2.51%Operating margin, FY2023: 9.72%Operating margin, FY2024: 10.07%Operating margin, FY2025: 14.31%Operating margin, FY2026: 19.27%Net margin, FY2022: -5.15%Net margin, FY2023: 7.62%Net margin, FY2024: 7.18%Net margin, FY2025: 13.56%Net margin, FY2026: 15.44%FY2022FY2023FY2024FY2025FY2026
Gross margin FY2022 64.70%. Gross margin FY2023 66.27%. Gross margin FY2024 69.22%. Gross margin FY2025 71.77%. Gross margin FY2026 73.66%. Operating margin FY2022 -2.51%. Operating margin FY2023 9.72%. Operating margin FY2024 10.07%. Operating margin FY2025 14.31%. Operating margin FY2026 19.27%. Net margin FY2022 -5.15%. Net margin FY2023 7.62%. Net margin FY2024 7.18%. Net margin FY2025 13.56%. Net margin FY2026 15.44%.

Income trends

Revenue

229.29B JPY+19.03%

Operating income

44.18B JPY+60.22%

Net income

35.4B JPY+35.56%
Income trends across reported periods252.98B JPY158.23B JPY63.49B JPY−31.26B JPYRevenue, FY2022: 147.05B JPYRevenue, FY2023: 171.97B JPYRevenue, FY2024: 187.41B JPYRevenue, FY2025: 192.63B JPYRevenue, FY2026: 229.29B JPYOperating income, FY2022: −3.69B JPYOperating income, FY2023: 16.71B JPYOperating income, FY2024: 18.87B JPYOperating income, FY2025: 27.58B JPYOperating income, FY2026: 44.18B JPYNet income, FY2022: −7.57B JPYNet income, FY2023: 13.11B JPYNet income, FY2024: 13.46B JPYNet income, FY2025: 26.11B JPYNet income, FY2026: 35.4B JPYFY2022FY2023FY2024FY2025FY2026
Revenue FY2022 147.05B JPY. Revenue FY2023 171.97B JPY. Revenue FY2024 187.41B JPY. Revenue FY2025 192.63B JPY. Revenue FY2026 229.29B JPY. Operating income FY2022 −3.69B JPY. Operating income FY2023 16.71B JPY. Operating income FY2024 18.87B JPY. Operating income FY2025 27.58B JPY. Operating income FY2026 44.18B JPY. Net income FY2022 −7.57B JPY. Net income FY2023 13.11B JPY. Net income FY2024 13.46B JPY. Net income FY2025 26.11B JPY. Net income FY2026 35.4B JPY.
Metric (JPY)FY2026FY2025FY2024FY2023FY2022
Revenue229.29B JPY192.63B JPY187.41B JPY171.97B JPY147.05B JPY
Cost of goods sold60.39B JPY54.37B JPY57.68B JPY58.01B JPY51.91B JPY
Gross profit168.91B JPY138.26B JPY129.73B JPY113.96B JPY95.14B JPY
Research and development—344M JPY478M JPY369M JPY398M JPY
Selling, general, and administrative124.72B JPY110.34B JPY110.38B JPY96.88B JPY98.05B JPY
Operating expenses124.72B JPY110.68B JPY110.86B JPY97.25B JPY98.83B JPY
Interest income1.29B JPY1.95B JPY891M JPY501M JPY50M JPY
Interest expense1B JPY668M JPY488M JPY493M JPY140M JPY
Depreciation and amortization2.88B JPY1.83B JPY2.04B JPY2.75B JPY818M JPY
Operating income44.18B JPY27.58B JPY18.87B JPY16.71B JPY−3.69B JPY
Net income35.4B JPY26.11B JPY13.46B JPY13.11B JPY−7.57B JPY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
90%
9 beats, 1 miss, 0 met estimates
Average EPS surprise
+26.52%
10 comparable reports
Latest EPS result
96.81
Estimate 72.36 · Beat by 33.79%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates103.1673.7244.2814.84Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 6, 2025: actual 27.12, estimate 17.46, surprise +55.33%, Beat. Q2 2025, reported May 7, 2025: actual 26.47, estimate 22.36, surprise +18.38%, Beat. Q3 2025, reported Aug 5, 2025: actual 85.28, estimate 45.77, surprise +86.32%, Beat. Q4 2025, reported Nov 3, 2025: actual 29.52, estimate 27.5, surprise +7.35%, Beat. Q1 2026, reported Feb 9, 2026: actual 33.98, estimate 33.72, surprise +0.77%, Beat. Q2 2026, reported May 11, 2026: actual 53.65, estimate 43.75, surprise +22.63%, Beat. Q3 2026, reported Aug 5, 2026: actual 96.81, estimate 72.36, surprise +33.79%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 54.55, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates64.48B58.35B52.22B46.09BQ1 '25MissQ2 '25BeatQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 6, 2025: actual 49.24B JPY, estimate 50.35B JPY, surprise -2.20%, Miss. Q2 2025, reported May 7, 2025: actual 49.91B JPY, estimate 49.19B JPY, surprise +1.45%, Beat. Q3 2025, reported Aug 5, 2025: actual 48.57B JPY, estimate 48.63B JPY, surprise -0.13%, Miss. Q4 2025, reported Nov 3, 2025: actual 49.44B JPY, estimate 54.15B JPY, surprise -8.69%, Miss. Q1 2026, reported Feb 9, 2026: actual 56.82B JPY, estimate 54.09B JPY, surprise +5.04%, Beat. Q2 2026, reported May 11, 2026: actual 61.04B JPY, estimate 56.31B JPY, surprise +8.39%, Beat. Q3 2026, reported Aug 5, 2026: actual 62B JPY, estimate 58.39B JPY, surprise +6.19%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 60.32B JPY, surprise —, Comparison unavailable.

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ETFs holding 4385.T

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Core Nikkei 225 ETF logoiShares Core Nikkei 225 ETF1329.T
Market value
5.09B
Weight
0.24%
AUM
2.12T JPY
Expense ratio
0.05%
Price / 1D
¥6,794-0.70%
iShares Core TOPIX ETF logoiShares Core TOPIX ETF1475.T
Market value
1.04B
Weight
0.04%
AUM
2.89T JPY
Expense ratio
0.05%
Price / 1D
¥418.4+0.10%
iShares JPX-Nikkei 400 ETF logoiShares JPX-Nikkei 400 ETF1364.T
Market value
306.05M
Weight
0.05%
AUM
592.34B JPY
Expense ratio
0.05%
Price / 1D
¥3,767+0.16%
Vanguard Total International Stock ETF logoVanguard Total International Stock ETFVXUS
Market value
44.02M
Weight
0.01%
AUM
646.2B USD
Expense ratio
0.05%
Price / 1D
$87.71+0.78%
Vanguard FTSE Developed Markets ETF logoVanguard FTSE Developed Markets ETFVEA
Market value
29.61M
Weight
0.01%
AUM
315B USD
Expense ratio
0.03%
Price / 1D
$73.42+0.80%
iShares Core MSCI EAFE ETF logoiShares Core MSCI EAFE ETFIEFA
Market value
25.54M
Weight
0.01%
AUM
195.14B USD
Expense ratio
0.07%
Price / 1D
$100.85+0.86%
Dimensional - International Small Cap ETF logoDimensional - International Small Cap ETFDFIS
Market value
22.65M
Weight
0.39%
AUM
5.91B USD
Expense ratio
0.39%
Price / 1D
$37.545+0.71%
iShares MSCI EAFE Small-Cap ETF logoiShares MSCI EAFE Small-Cap ETFSCZ
Market value
12.55M
Weight
0.09%
AUM
13.28B USD
Expense ratio
0.40%
Price / 1D
$86.60+0.70%

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