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Japan's largest family-restaurant chain operator, running Gusto, Bamiyan, Jonathan's and other casual-dining brands.
Japan's largest family-restaurant chain operator, running Gusto, Bamiyan, Jonathan's and other casual-dining brands.
Runs most of its restaurants itself rather than through franchisees, so profit rests on customer visits, spend per visit and food and labour costs, which have both risen in Japan. Spreading purchasing over a network of thousands of outlets across its brands helps hold costs.
In one line: Japan's Denny's/Applebee's parent, at much larger scale.
Moat: narrow (scale, brand). Largest restaurant network in Japan gives purchasing scale and prime site access.
Headquarters: Tokyo, Japan · Founded: 1970 · Employees: 6,744
Size Skylark (3197.T) is a Japan Consumer Discretionary company (Restaurants) with a market value of $5.18B, the 236th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,593 on 6 Nov 2026.
Performance Over six months the shares gained 19.4%, against +14.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue grew 11.3% over the last twelve months (peer median +10.3%); the operating margin is 7.3% (peer median 8.9%).
Valuation It trades at 38.5× forward earnings against a peer median of 28.9× (6th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.1 points above its cost of capital (5.0% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥479B | ¥458B | ¥401B | ¥355B | ¥304B |
| Revenue growth | — | +14% | +13% | +17% | — |
| Gross profit | ¥319B | ¥257B | ¥226B | ¥195B | ¥163B |
| EBITDA | ¥89.0B | ¥85.3B | ¥72.2B | ¥65.2B | ¥38.9B |
| Net income | ¥19.0B | ¥16.7B | ¥14.0B | ¥4.78B | -¥6.37B |
| Free cash flow | ¥50.8B | ¥50.3B | ¥52.7B | ¥57.3B | ¥32.2B |
| Capital expenditure | ¥29.3B | ¥24.8B | ¥17.0B | ¥14.8B | ¥15.8B |
| Total debt | ¥137B | ¥248B | ¥220B | ¥199B | ¥208B |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Skylark 3197.T | $5.18B | +19% | +11% | 7% | 38.5× | 6.4% |
| Zensho 7550.T | $12.2B | +41% | +12% | 7% | 34.3× | 6.1% |
| Saizeriya 7581.T | $2.52B | +60% | +17% | 5% | 26.9× | 4.6% |
| Yoshinoya 9861.T | $1.84B | +42% | +10% | 4% | 45.5× | 11.2% |
| Colowide 7616.T | $1.51B | +21% | +16% | 4% | n/a | 13.6% |
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 | 3197.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.3% | +9.4% | 6th highest of 21 |
| 6-month return | +19.4% | +14.3% | 8th highest of 20 |
| Distance from 52-week high | -6.7% | -16.6% | 6th highest of 21 |
| Revenue growth (TTM) | +11.3% | +10.3% | 8th highest of 21 |
| Operating margin | 7.3% | 8.9% | 7th lowest of 21 |
| Forward P/E | 38.5× | 28.9× | 6th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 6.4% | 8.1% | 9th least demanding of 19 |
| Growth delivered (Del g) | +9.7% | +15.8% | 6th lowest of 19 |
| Hurdle (Req g minus delivered) | -3.3 pp | -2.2 pp | 9th least demanding of 19 |
| ROIC minus cost of capital | +3.1 pp | +6.2 pp | 10th lowest of 21 |
| EV / EBITDA | 10.4× | 14.6× | 6th cheapest of 21 |
| Net debt / EBITDA | 1.2× | 2.2× | 5th least indebted of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Skylark 3197.T | Japan | $5.18B | +19% | +11% | 7% | 38.5× | 6.4% | +9.7% |
| Cheesecake Factory CAKE | United States | $5.32B | +73% | +8% | 7% | 21.2× | 16.7% | +13.6% |
| Dutch Bros BROS | United States | $5.90B | -36% | +30% | 10% | 31.0× | 36.3% | +38.0% |
| Jersey Mike's Subs JMKE | United States | $6.03B | n/a | +11% | 21% | 26.3× | n/a | n/a |
| Wingstop WING | United States | $4.42B | +26% | +7% | 28% | 35.3× | 21.9% | +22.9% |
| CAVA CAVA | United States | $6.91B | -26% | +27% | 7% | 85.5× | 41.5% | +27.9% |
| Haidilao 6862.HK | Hong Kong | $7.24B | -28% | +11% | 12% | 11.4× | 2.0% | +7.8% |
| McDonald's Holdings Company (Japan) 2702.T | Japan | $7.33B | +7% | +2% | 14% | 32.0× | 1.8% | +7.6% |
| Food & Life Companies 3563.T | Japan | $7.34B | +12% | +24% | 10% | 35.6× | 6.9% | +16.0% |
| Jubilant Foodworks JUBLFOOD.NS | India | $3.20B | -5% | +16% | 10% | 61.4× | 28.6% | +23.5% |
| Brinker International EAT | United States | $8.58B | +49% | +6% | 11% | 14.7× | 9.3% | +11.7% |
| Shake Shack SHAK | United States | $3.08B | +2% | +17% | 5% | 55.7× | n/a | n/a |
| Sodexo SW.PA | France | $9.91B | +28% | 0% | 3% | 17.7× | 6.0% | +6.6% |
| TORIDOLL 3397.T | Japan | $2.68B | +19% | +3% | 7% | 57.7× | 5.9% | +15.6% |
| Mitchells & Butlers MAB.L | United Kingdom | $2.56B | +25% | +3% | 12% | 10.2× | 4.7% | +12.9% |
| Saizeriya 7581.T | Japan | $2.52B | +60% | +17% | 5% | 26.9× | 4.6% | +19.0% |
| Domino's DPZ | United States | $11.0B | +4% | +4% | 20% | 16.3× | 1.8% | +3.7% |
| create restaurants 3387.T | Japan | $2.34B | +14% | +3% | 5% | 65.7× | 17.8% | +17.3% |
| Texas Roadhouse TXRH | United States | $12.1B | +4% | +10% | 8% | 26.8× | 13.8% | +19.6% |
| Zensho 7550.T | Japan | $12.2B | +41% | +12% | 7% | 34.3× | 6.1% | +16.3% |
| Aramark ARMK | United States | $13.9B | +17% | +11% | 4% | 19.8× | 16.1% | +7.6% |