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AEON-group holding company combining the Maruetsu, Kasumi and Marunaka supermarket chains in Japan.
AEON-group holding company combining the Maruetsu, Kasumi and Marunaka supermarket chains in Japan.
Earns the margin on groceries sold in its own stores, with the AEON group, Japan's largest retail group, as its biggest shareholder and a source of shared purchasing and private-label goods. Results depend on store traffic and cost control.
Moat: narrow (scale, distribution, brand). Combined multi-brand store network scale under the AEON group umbrella.
Headquarters: Tokyo, Japan · Founded: 2015 · Employees: 9,349
Size United Super Markets (3222.T) is a Japan Consumer Staples company (Food Retail) with a market value of $999M, the 737th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥760 on 6 Nov 2026.
Performance Over six months the shares fell 7.1%, against -5.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 10.7% over the last twelve months (peer median +2.5%); the operating margin is 0.2% (peer median 3.3%).
Valuation It trades at 0.2× enterprise value to sales against a peer median of 0.4× (cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 31% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +26 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.5 points below its cost of capital (5.0% WACC).
Next results Next results expected around 13 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.03T | ¥964B | ¥811B | ¥707B | ¥709B |
| Revenue growth | — | +19% | +15% | 0% | — |
| Gross profit | ¥309B | ¥289B | ¥247B | ¥215B | ¥212B |
| EBITDA | ¥22.2B | ¥25.0B | ¥23.3B | ¥21.6B | ¥20.8B |
| Net income | -¥6.62B | -¥3.19B | ¥810M | ¥1.01B | ¥1.34B |
| Free cash flow | n/a | ¥5.76B | -¥8.19B | ¥562M | -¥2.64B |
| Capital expenditure | n/a | ¥23.3B | ¥26.5B | ¥23.9B | ¥20.5B |
| Total debt | ¥61.4B | ¥54.2B | ¥63.3B | ¥44.9B | ¥43.2B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| United Super Markets 3222.T | $999M | -7% | +11% | 0% | 0.2× | 31.5% |
| Life 8194.T | $1.43B | +1% | +3% | 3% | 0.3× | -11.0% |
| Blue Zones 417A.T | $2.56B | +11% | +12% | 4% | 0.5× | -4.0% |
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 | 3222.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.2% | +2.6% | 2nd lowest of 21 |
| 6-month return | -7.1% | -5.3% | 10th lowest of 21 |
| Distance from 52-week high | -24.1% | -20.8% | 10th lowest of 21 |
| Revenue growth (TTM) | +10.7% | +2.5% | 2nd highest of 21 |
| Operating margin | 0.2% | 3.3% | lowest of 21 |
| EV / Sales | 0.2× | 0.4× | cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 31.5% | -3.8% | most demanding of 18 |
| Growth delivered (Del g) | +5.6% | +3.0% | 4th highest of 18 |
| Hurdle (Req g minus delivered) | +25.9 pp | -7.6 pp | 2nd most demanding of 18 |
| ROIC minus cost of capital | -4.5 pp | +2.6 pp | lowest of 21 |
| Net debt / EBITDA | 1.1× | 0.9× | 6th most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| United Super Markets 3222.T | Japan | $999M | -7% | +11% | 0% | 0.2× | 31.5% | +5.6% |
| Chengdu Hongqi Chain 002697.SZ | China | $1.01B | -5% | -1% | 5% | 0.5× | -17.5% | +1.1% |
| Toly Bread 603866.SS | China | $1.01B | -15% | -2% | 8% | 1.4× | 0.5% | -1.8% |
| Jiangxi Guoguang Commercial Chains 605188.SS | China | $908M | -26% | +3% | 1% | 2.1× | 27.5% | +4.6% |
| Fuji 8278.T | Japan | $1.11B | -1% | -1% | 1% | 0.2× | 2.6% | +20.9% |
| Jiajiayue 603708.SS | China | $874M | -12% | 0% | 2% | 0.4× | -12.7% | +1.5% |
| Axial Retailing 8255.T | Japan | $865M | +30% | +3% | 4% | 0.4× | -10.9% | +2.9% |
| BELC 9974.T | Japan | $852M | -8% | +5% | 4% | 0.4× | n/a | n/a |
| WH Smith SMWH.L | United Kingdom | $851M | -10% | -31% | 8% | 1.3× | 9.1% | +8.8% |
| Sanjiang Shopping Club 601116.SS | China | $833M | -26% | -7% | 3% | 1.1× | n/a | n/a |
| San-a 2659.T | Japan | $1.22B | -2% | +6% | 7% | 0.6× | -12.3% | +3.9% |
| Taiwan FamilyMart 5903.TWO | Taiwan | $1.23B | -4% | +7% | 2% | 0.3× | -2.4% | +5.2% |
| Valor 9956.T | Japan | $1.25B | -6% | +9% | 3% | 0.3× | -2.7% | +4.8% |
| Chongqing Chongbai Technology 600729.SS | China | $1.26B | -9% | -11% | 4% | 0.7× | -10.4% | -6.9% |
| Arcs 9948.T | Japan | $1.27B | +5% | +2% | 3% | 0.2× | -10.6% | +2.4% |
| Aryzta ARYN.SW | Switzerland | $1.28B | -26% | -3% | 7% | 0.9× | -6.6% | +3.0% |
| Grocery Outlet GO | United States | $1.29B | +59% | +5% | 4% | 0.7× | 4.4% | +8.4% |
| Heiwado 8276.T | Japan | $749M | -2% | +2% | 3% | 0.2× | -3.8% | +0.7% |
| Better Life Commercial Chain Share 002251.SZ | China | $1.34B | -19% | +11% | 5% | 3.4× | 10.8% | -23.1% |
| Aeon Hokkaido 7512.T | Japan | $719M | -4% | +3% | 2% | 0.4× | n/a | n/a |
| Life 8194.T | Japan | $1.43B | +1% | +3% | 3% | 0.3× | -11.0% | +3.0% |