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GNI Group
(2160)
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Rating:48Neutral
Price Target:
¥2,463.00
▼(-26.91% Downside)
Action:Reiterated
Date:05/19/26
The score is held back primarily by weak recent profitability and negative operating/free cash flow despite strong revenue growth and a solid, low-leverage balance sheet. Technicals add additional pressure as the stock trades below major moving averages with negative momentum. Valuation is neutral at a ~26 P/E, offering limited offset without a provided dividend yield.
Positive Factors
Revenue growth & gross margins
Sustained TTM revenue growth (+76.5%) paired with persistently high gross margins (~74%) indicate durable demand and a scalable cost structure. Over 2–6 months this supports margin recovery if operating expenses normalize and underpins long‑term cash generation once operating losses are addressed.
Negative Factors
Negative operating & free cash flow
Sustained negative operating and free cash flow (~-¥2.5B / -¥2.9B TTM) forces reliance on cash reserves or external financing, increasing dilution and execution risk. Over several months this constrains reinvestment capacity and raises the possibility of capital raises if losses persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & gross margins
Sustained TTM revenue growth (+76.5%) paired with persistently high gross margins (~74%) indicate durable demand and a scalable cost structure. Over 2–6 months this supports margin recovery if operating expenses normalize and underpins long‑term cash generation once operating losses are addressed.
Read all positive factors
GNI Group (2160) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥162.86B
Dividend YieldN/A
Average Volume (3M)969.16K
Price to Earnings (P/E)―
Beta (1Y)1.25
Revenue Growth17.67%
EPS Growth-496.13%
CountryJP
Employees990
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-112.69
Shares Outstanding65,817,420
10 Day Avg. Volume1,104,200
30 Day Avg. Volume969,156
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)2.52
Price to Sales (P/S)4.71
P/FCF Ratio-46.15
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥3,800.00Price Target Upside12.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)53.4
Revenue Forecast (FY)¥30.28B
GNI Group Business Overview & Revenue Model
GNI Group Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
72
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.05B | 26.84B | 23.61B | 26.01B | 17.42B | 12.69B |
| Gross Profit | 19.90B | 19.99B | 18.04B | 22.43B | 14.74B | 11.09B |
| EBITDA | -3.92B | -1.76B | 2.67B | 14.47B | 2.16B | 2.14B |
| Net Income | -6.01B | -4.41B | 1.10B | 8.09B | 388.83M | 1.07B |
Balance Sheet | ||||||
| Total Assets | 82.59B | 83.79B | 71.94B | 64.27B | 33.91B | 30.30B |
| Cash, Cash Equivalents and Short-Term Investments | 19.87B | 21.10B | 12.93B | 23.15B | 11.24B | 14.35B |
| Total Debt | 5.17B | 5.37B | 22.66B | 18.84B | 537.36M | 1.13B |
| Total Liabilities | 32.07B | 32.11B | 32.07B | 27.72B | 14.10B | 11.03B |
| Stockholders Equity | 50.03B | 50.15B | 36.45B | 33.79B | 20.97B | 18.86B |
Cash Flow | ||||||
| Free Cash Flow | -2.93B | -2.74B | -3.69B | 5.28B | -580.20M | 172.78M |
| Operating Cash Flow | -2.54B | -2.41B | -3.16B | 6.55B | 393.32M | 552.27M |
| Investing Cash Flow | 592.26M | 2.73B | -12.89B | -3.33B | -4.12B | 2.24B |
| Financing Cash Flow | 11.02B | 10.47B | 3.22B | 7.17B | -646.33M | 357.06M |
GNI Group Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | ¥27.41B | -62.27 | ― | ― | 3.43% | -53.59% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | ¥162.86B | -21.96 | -12.96% | ― | 17.67% | -496.13% | |
47 Neutral | ¥81.13B | -7.93 | -15.58% | ― | 10.88% | -327.56% | |
41 Neutral | ¥122.97B | -34.27 | -6.88% | ― | -59.19% | -124.16% | |
41 Neutral | ¥71.74B | -21.91 | -44.85% | ― | ― | 31.36% |
* Healthcare Sector Average
JP:2160
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GNI Group Corporate Events
GNI Group Makes AYUMI a Wholly Owned Unit and Raises ¥26.8 Billion via Share Issuance
Jul 1, 2026
GNI Group has completed the acquisition of all shares of AYUMI Pharmaceutical Holdings, turning the Tokyo-based manager of anti-rheumatic and antipyretic analgesic drug businesses into a wholly owned subsidiary. The company has invested about JPY ...
GNI Sets July 1 Payment Date for Share Issue Funding AYUMI Acquisition
Jun 26, 2026
GNI Group has finalized key conditions in its previously announced plan to acquire all shares of AYUMI Pharmaceutical Holdings and convert it into a wholly owned subsidiary. The company will issue 9,974,291 new common shares via third-party allotm...
GNI Group Secures ¥20 Billion Covenant-Linked Loan for Ayumi Acquisition
Jun 26, 2026
GNI Group Ltd. has approved a new loan agreement with Mizuho Bank and SBI Shinsei Bank to secure ¥20 billion in short-term financing, primarily to fund the acquisition of Ayumi Pharmaceutical Holdings KK and related transaction expenses. The ...
GNI’s Gyre Therapeutics files Form S-3 tied to Cullgen acquisition
Jun 23, 2026
GNI Group has announced that its U.S. subsidiary Gyre Therapeutics has filed a Form S-3 registration statement with the SEC tied to its planned acquisition of Cullgen Inc. as a wholly owned subsidiary. The registration covers Gyre common shares to...
GNI Group Announces Transformational Acquisition of Ayumi Pharmaceutical Holdings
Jun 5, 2026
GNI Group Ltd. has announced a transformational acquisition of Ayumi Pharmaceutical Holdings, signaling a strategic move to expand its presence in the pharmaceutical industry. The deal is framed as a significant step in enhancing GNI’s portf...
GNI Group to Buy AYUMI Pharmaceutical Holdings and Issue New Shares to Bolster Japan Platform
Jun 5, 2026
GNI Group has agreed to acquire all shares of AYUMI Pharmaceutical Holdings KK, a Japan-based holding company with a strong sales network to medical institutions and a robust earnings base anchored by Calonal and other high-share products in ortho...
GNI Group to Gain New Largest Shareholder via AYUMI Pharma Deal
Jun 5, 2026
GNI Group has announced that BCP Asia AYM Holding (Cayman) L.P., an investment vehicle ultimately linked to Blackstone-managed private equity funds, is expected to become its new largest major shareholder. This shift will occur through a third-par...
GNI Group Outlines Q1 FY2026 Results and Financial Highlights
May 15, 2026
GNI Group has released its Q1 FY2026 financial results presentation, outlining segment performance, overall financial highlights, and supplementary materials for the period. While detailed figures are not disclosed in the text provided, the releas...
GNI Group Widens Q1 Loss as Drug Investment and Reorganization Weigh on Earnings
May 15, 2026
GNI Group reported first-quarter fiscal 2026 revenue of ¥5.53 billion, a modest 3.9% year-on-year increase, but posted a significantly wider operating loss of ¥2.75 billion and a net loss attributable to owners of the parent of ¥2.1...
GNI Group’s F351 Liver Fibrosis Drug Wins NDA Acceptance and Priority Review in China
May 12, 2026
GNI Group announced that its subsidiary Gyre Pharmaceuticals has received formal acceptance from China’s National Medical Products Administration for the New Drug Application of F351, or hydronidone, for chronic hepatitis B-induced liver fib...
Gyre Ramps Up F351 and Cullgen Investments as Q1 Swings to Loss
May 8, 2026
Gyre Therapeutics, a consolidated subsidiary of GNI Group, reported first-quarter fiscal 2026 revenue of US$22.5 million, essentially flat year on year, but swung from an operating profit of US$2.3 million to an operating loss of US$9.4 million. T...
GNI Group Reshapes Top Management as Gyre Advances Cullgen Acquisition
May 7, 2026
GNI Group has strengthened its management structure as Gyre Therapeutics, a consolidated subsidiary, advances the acquisition of Cullgen, with Gyre having filed a related report with the U.S. Securities and Exchange Commission. In tandem with this...
GNI Group’s Gyre Therapeutics Completes US$300 Million Cullgen Acquisition to Build Integrated U.S.-China Biopharma Platform
May 7, 2026
Gyre Therapeutics, a consolidated subsidiary of GNI Group, has completed the all-stock acquisition of clinical-stage biopharmaceutical firm Cullgen Inc., making it a wholly owned subsidiary in a deal valued at about US$300 million. The transaction...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.