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Employees: 3,275
Size Alpen (3028.T) is a Japan Consumer Discretionary company (Recreational Products) with a market value of $590M, the 986th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,476 on 6 Nov 2026.
Performance Over six months the shares gained 25.9%, against -25.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 6.4% over the last twelve months (peer median +10.2%); the operating margin is 3.0% (peer median 2.6%).
Valuation It trades at 0.3× enterprise value to sales against a peer median of 1.4× (3rd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.2 points below its cost of capital (5.0% WACC).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | ¥286B | ¥286B | ¥269B | ¥253B | ¥245B |
| Revenue growth | — | +6% | +6% | +3% | — |
| Gross profit | ¥113B | ¥113B | ¥108B | ¥98.1B | ¥94.2B |
| EBITDA | ¥15.1B | ¥15.1B | ¥14.7B | ¥9.08B | ¥10.9B |
| Net income | ¥6.27B | ¥6.27B | ¥5.57B | ¥1.73B | ¥5.47B |
| Free cash flow | n/a | ¥1.96B | ¥2.53B | -¥3.21B | ¥157M |
| Capital expenditure | n/a | ¥9.61B | ¥7.28B | ¥9.59B | ¥6.22B |
| Total debt | ¥14.3B | ¥14.3B | ¥11.8B | ¥14.3B | ¥6.28B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 3028.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.0% | -3.0% | 6th highest of 21 |
| 6-month return | +25.9% | -25.6% | 2nd highest of 21 |
| Distance from 52-week high | -3.6% | -41.7% | 2nd highest of 21 |
| Revenue growth (TTM) | +6.4% | +10.2% | 8th lowest of 21 |
| Operating margin | 3.0% | 2.6% | 9th highest of 21 |
| EV / Sales | 0.3× | 1.4× | 3rd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -3.0% | 10.1% | 4th least demanding of 12 |
| Growth delivered (Del g) | +4.2% | +5.4% | 5th lowest of 12 |
| Hurdle (Req g minus delivered) | -7.2 pp | +1.4 pp | 5th least demanding of 12 |
| ROIC minus cost of capital | -0.2 pp | -4.9 pp | 7th highest of 19 |
| EV / EBITDA | 6.0× | 9.0× | 5th cheapest of 14 |
| Net debt / EBITDA | -0.1× | -2.3× | 5th most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Alpen 3028.T | Japan | $590M | +26% | +6% | 3% | 0.3× | -3.0% | +4.2% |
| Roland 7944.T | Japan | $605M | -11% | +8% | 9% | 0.9× | -8.3% | +9.5% |
| Shuhua Sports 605299.SS | China | $642M | -60% | +20% | 9% | 2.3× | n/a | n/a |
| Thunder Tiger 8033.TW | Taiwan | $647M | -14% | +11% | -5% | 14.2× | n/a | n/a |
| Tron TRON | United States | $669M | -37% | +20% | -45% | 130.4× | n/a | n/a |
| Mastercraft Boat MCFT | United States | $493M | -26% | +23% | 3% | 1.3× | 28.3% | -7.9% |
| Johnson Outdoors JOUT | United States | $490M | -8% | +17% | 3% | 0.6× | 10.1% | -0.1% |
| Dream International 1126.HK | Hong Kong | $474M | -27% | +10% | 11% | 0.4× | -20.1% | +9.6% |
| Zhejiang Natural Outdoor Goods 605080.SS | China | $472M | -12% | -2% | 14% | 2.1× | 7.6% | +11.9% |
| Beneteau BEN.PA | France | $457M | -32% | +1% | 0% | 0.2× | n/a | n/a |
| Fenix Outdoor International AG Series B FOI-B.ST | Sweden | $443M | -25% | +1% | 3% | 0.8× | 6.8% | +5.4% |
| Sturm, Ruger & RGR | United States | $798M | +28% | +8% | 2% | 1.2× | 21.9% | -0.8% |
| Impulse Qingdao Health Tech 002899.SZ | China | $428M | -43% | -1% | 6% | 2.5× | n/a | n/a |
| Guangdong Qunxing Toys Joint-Stock 002575.SZ | China | $427M | -29% | +34% | -9% | 4.9× | 41.8% | +38.9% |
| Soft-World International 5478.TWO | Taiwan | $426M | -3% | +6% | 20% | 0.3× | n/a | n/a |
| Mubang High-Tech 603398.SS | China | $416M | -49% | +94% | -133% | 6.8× | n/a | n/a |
| Butong 6090.HK | Hong Kong | $416M | -5% | +16% | 7% | 1.5× | 29.3% | +38.5% |
| Guangzhou Pearl River Piano 002678.SZ | China | $852M | -30% | +14% | -54% | 8.9× | n/a | n/a |
| Hailun Piano 300329.SZ | China | $407M | -23% | -11% | -112% | 26.9× | n/a | n/a |
| Topkey 4536.TW | Taiwan | $401M | -3% | -10% | 16% | 1.0× | -15.6% | +4.9% |
| Malibu Boats MBUU | United States | $398M | -33% | +13% | 1% | 0.6× | 19.6% | -0.3% |