Linical Co., Ltd. (JP:2183)
:2183
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Linical Co., Ltd.
(2183)
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Rating:47Neutral
Price Target:
¥232.00
▼(-20.82% Downside)
Action:Reiterated
Date:05/18/26
The score is held back primarily by the sharp financial deterioration (losses and a shift to negative operating/free cash flow) and very weak technical conditions (below key moving averages with deeply oversold momentum). The dividend yield provides some support, but the negative P/E underscores ongoing loss-making risk.
Positive Factors
Stable CRO business model
Linical's fee-for-service CRO model is structurally durable: pharmaceutical and biotech sponsors regularly outsource clinical development to control costs and access expertise. This creates recurring project-based revenue and predictable demand over multi-month trial cycles, supporting steady cash generation when projects win.
Negative Factors
Revenue and profitability decline
A substantial revenue decline and the shift from modest profit to a large net loss signal weakening demand or execution failures. Persistent top-line pressure erodes operating leverage and margins, undermining the firm's ability to invest in business development and weakening long-term competitive positioning if trends persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable CRO business model
Linical's fee-for-service CRO model is structurally durable: pharmaceutical and biotech sponsors regularly outsource clinical development to control costs and access expertise. This creates recurring project-based revenue and predictable demand over multi-month trial cycles, supporting steady cash generation when projects win.
Read all positive factors
Linical Co., Ltd. (2183) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥4.72B
Dividend Yield5.44%
Average Volume (3M)14.99K
Price to Earnings (P/E)―
Beta (1Y)0.63
Revenue Growth-16.97%
EPS Growth-517.61%
CountryJP
Employees662
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-28.06
Shares Outstanding24,740,000
10 Day Avg. Volume18,600
30 Day Avg. Volume14,993
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.46
Price to Sales (P/S)0.67
P/FCF Ratio-3.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)29.7
Revenue Forecast (FY)¥13.00B
Linical Co., Ltd. Business Overview & Revenue Model
Company Description
Linical Co., Ltd. specializes in offering a wide range of drug development services to pharmaceutical companies across the globe. The company primarily assists in the therapeutic areas of oncology and central nervous system disorders. Its offering...
How the Company Makes Money
Linical primarily makes money by providing fee-based CRO services to sponsors (e.g., pharmaceutical and biotech companies) that outsource clinical development work. Revenue is typically generated through service contracts tied to specific clinical...
Linical Co., Ltd. Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
55
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.14B | 8.67B | 10.44B | 12.31B | 12.52B | 11.56B |
| Gross Profit | 2.00B | 753.13M | 2.01B | 3.43B | 3.84B | 3.34B |
| EBITDA | -99.39M | -1.54B | -46.50M | 1.25B | 1.76B | 1.54B |
| Net Income | -633.62M | -3.33B | -539.10M | 338.27M | 1.00B | 790.49M |
Balance Sheet | ||||||
| Total Assets | 15.22B | 12.00B | 16.78B | 18.54B | 17.46B | 15.72B |
| Cash, Cash Equivalents and Short-Term Investments | 5.53B | 5.20B | 7.04B | 7.47B | 7.04B | 5.99B |
| Total Debt | 2.22B | 2.25B | 2.42B | 3.00B | 3.63B | 4.19B |
| Total Liabilities | 8.53B | 8.02B | 9.52B | 10.30B | 9.88B | 9.17B |
| Stockholders Equity | 6.69B | 3.98B | 7.25B | 8.24B | 7.58B | 6.54B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.55B | 602.21M | 1.08B | 1.85B | 1.64B |
| Operating Cash Flow | 0.00 | -1.52B | 605.10M | 1.11B | 1.86B | 1.68B |
| Investing Cash Flow | 0.00 | -1.96M | -54.93M | -70.47M | -31.79M | -32.14M |
| Financing Cash Flow | 0.00 | -513.25M | -939.22M | -960.92M | -957.33M | -951.55M |
Linical Co., Ltd. Technical Analysis
Negative
293.00
Price Trends
238.10
Negative
268.53
Negative
292.64
Negative
Market Momentum
-8.74
Negative
29.87
Positive
37.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2183, the sentiment is Negative. The current price of 293 is above the 20-day moving average (MA) of 219.00, above the 50-day MA of 238.10, and above the 200-day MA of 292.64, indicating a bearish trend. The MACD of -8.74 indicates Negative momentum. The RSI at 29.87 is Positive, neither overbought nor oversold. The STOCH value of 37.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2183.
Linical Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | ¥137.76B | -14.35 | ― | 2.18% | -10.48% | -1022.09% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | ¥4.72B | -1.42 | ― | 5.44% | -16.97% | -517.61% | |
46 Neutral | ¥7.00B | -5.64 | ― | ― | 5.94% | 12.09% | |
43 Neutral | ¥3.58B | -45.69 | ― | ― | 1.30% | 92.91% | |
43 Neutral | ¥5.33B | -7.95 | ― | ― | ― | ― | |
42 Neutral | ¥12.08B | -20.34 | ― | ― | -25.02% | -697.06% |
* Healthcare Sector Average
JP:2183
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Linical Co., Ltd. Corporate Events
Linical Books Heavy Impairment Charges as Japan and Europe Businesses Struggle
May 15, 2026
Linical Co., Ltd. reported that it booked significant impairment losses in the fourth quarter of the year ended March 2026, reflecting continued severe business conditions in its Japanese and European operations, where project cancellations and de...
Linical swings to deep loss but forecasts return to profit in FY2027
May 15, 2026
Linical Co., Ltd. reported a steep deterioration in results for the year ended March 31, 2026, with net sales falling 17% to ¥8.67 billion and the company posting an operating loss of ¥2.07 billion and a net loss of ¥3.33 billion. P...
Linical Cuts Earnings and Dividend Forecasts as Trial Delays Deepen Losses
Mar 18, 2026
Linical has sharply downgraded its consolidated forecast for the fiscal year ending March 2026, now expecting lower sales and a deeper net loss as delays in large global clinical trials in the U.S., Europe and Australia, along with weaker-than-pla...
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.