Manabi-aid Co.,Ltd. (184A) AI Stock Analysis

• Market Cap: ¥1.26B
• Dividend Yield: N/A
• Average Volume (3M): 6.22K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.49
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: JP
• Employees: N/A
• Sector: Healthcare
• Sector Strength: 45
• Industry: Education & Training Services
• EPS (TTM): -5.20
• Shares Outstanding: 3,413,500
• 10 Day Avg. Volume: 9,130
• 30 Day Avg. Volume: 6,216
• PEG Ratio: <0.01
• Price to Book (P/B): 6.76
• Price to Sales (P/S): 3.16
• P/FCF Ratio: -3.96
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: ¥358.00 ▼(-35.73% Downside)
• Action: Reiterated Date: 03/19/26
• Date: Action: Reiterated 03/19/26

The score is driven primarily by weak financial performance, including steep revenue decline, losses, and negative operating/free cash flow. Technicals remain pressured with the stock below major moving averages despite some near-term momentum strength. Valuation is also constrained by a negative P/E tied to unprofitable earnings.

Positive Factors

Manageable leverage

A low debt-to-equity ratio of 0.28 provides structural financial flexibility, reducing near-term solvency pressure and interest burden. That buffer helps the company weather revenue weakness, preserves borrowing capacity for restructuring or investment, and supports longer-term viability.

Stable equity ratio

A relatively stable equity ratio indicates the company retains a base of shareholder capital to absorb losses and sustain operations. This structural balance between assets and equity lessens immediate insolvency risk and supports creditor confidence during multi-quarter turnarounds.

Lower market volatility

A beta near 0.5 implies lower sensitivity to market swings, which can aid management in executing medium-term strategic adjustments without severe financing cost swings. Lower systematic volatility also helps attract conservative capital and reduces refinancing pressure during recovery.

Negative Factors

Steep revenue decline

A >50% revenue decline is a structural concern: it materially reduces scale, undermines operating leverage, and constrains pricing power. Restoring topline takes multiple quarters and is essential to rebuild margins, cash generation, and investor confidence over the 2–6 month horizon and beyond.

Negative operating and free cash flow

Persistently negative operating and free cash flows indicate the business cannot self-fund operations or investment. This forces reliance on external financing or asset dispositions, raises liquidity risk, and limits the firm's ability to invest in growth or execute strategic fixes sustainably.

Negative margins and net loss

Negative EBIT/EBITDA margins and a net loss reflect structural profitability issues, implying core economics aren't covering fixed costs. Without margin recovery, the firm will struggle to rebuild equity, attract long-term capital, or compete effectively, risking further balance-sheet erosion.

Manabi-aid Co.,Ltd. Business Overview & Revenue Model

Company Description

Manabi-aid Co., Ltd. (184A) is a forward-thinking company focused on providing innovative educational solutions and technology-driven services. Operating primarily in the education sector, the company specializes in developing digital learning platforms, educational software, and resources aimed at enhancing learning outcomes for students and educators alike. By leveraging cutting-edge technology and educational research, Manabi-aid aims to bridge gaps in traditional education systems and promote accessible, effective learning experiences.

Manabi-aid Co.,Ltd. Financial Statement Overview

Summary

Overall financials are weak: revenue fell sharply (-53.89%), profitability turned negative with deteriorating EBIT/EBITDA margins, and both operating and free cash flow are negative. The balance sheet shows only moderate stability (debt-to-equity 0.28), but negative ROE and weakening equity reduce confidence.

Income Statement

The income statement shows significant challenges with a dramatic decline in revenue and profitability. The company experienced a negative revenue growth rate of -53.89% in the latest year, and net income turned negative, resulting in a net loss. Margins have deteriorated, with negative EBIT and EBITDA margins, indicating operational inefficiencies and financial distress.

Balance Sheet

The balance sheet reflects moderate stability with a manageable debt-to-equity ratio of 0.28. However, the return on equity has turned negative due to the net loss, indicating poor returns for shareholders. The equity ratio is relatively stable, suggesting a balanced asset structure, but the overall financial health is weakened by declining equity.

Cash Flow

Cash flow analysis reveals severe issues, with negative operating and free cash flows, indicating liquidity problems. The free cash flow growth rate is negative, and the ratios of operating and free cash flow to net income are unfavorable, highlighting cash generation challenges and potential sustainability risks.

Breakdown	Apr 2025	Apr 2025	Apr 2023	Apr 2022
Income Statement
Total Revenue	289.91M	628.72M	501.33M	290.46M
Gross Profit	88.73M	423.36M	377.68M	194.56M
EBITDA	-285.44M	153.17M	118.23M	-40.98M
Net Income	-318.04M	118.40M	93.27M	-60.20M
Balance Sheet
Total Assets	219.67M	454.24M	369.74M	192.66M
Cash, Cash Equivalents and Short-Term Investments	29.96M	141.61M	123.38M	50.16M
Total Debt	37.84M	62.34M	97.23M	44.22M
Total Liabilities	84.25M	164.78M	198.68M	114.87M
Stockholders Equity	135.42M	289.46M	171.06M	77.79M
Cash Flow
Free Cash Flow	-231.35M	59.02M	20.19M	-59.56M
Operating Cash Flow	-218.39M	63.81M	24.11M	-56.93M
Investing Cash Flow	-21.97M	-7.18M	-3.90M	-2.55M
Financing Cash Flow	128.71M	-38.40M	53.01M	-13.16M

Manabi-aid Co.,Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 557.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:184A, the sentiment is Negative. The current price of 557 is above the 20-day moving average (MA) of 383.75, above the 50-day MA of 399.56, and above the 200-day MA of 532.33, indicating a bearish trend. The MACD of -3.91 indicates Negative momentum. The RSI at 43.22 is Neutral, neither overbought nor oversold. The STOCH value of 45.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:184A.

Manabi-aid Co.,Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9560	74 Outperform	¥8.89B	9.46	―	2.06%	29.06%	41.54%
9345	63 Neutral	¥2.11B	12.00	―	1.92%	4.25%	-6.45%
9339	60 Neutral	¥2.86B	31.62	―	1.33%	-7.47%	378.86%
6096	55 Neutral	¥2.91B	6.04	―	1.68%	-4.16%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
4720	51 Neutral	¥2.40B	8.75	―	―	-1.21%	-50.91%
184A	41 Neutral	¥1.26B	-10.63	―	―	―	―