Linical Co., Ltd. (JP:2183)
:2183
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Linical Co., Ltd.
(2183)
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Rating:52Neutral
Price Target:
¥258.00
▼(-11.95% Downside)
Action:ReiteratedDate:11/18/25
The overall stock score reflects significant financial performance challenges, with declining revenues and profitability issues being the most impactful. Technical analysis indicates bearish momentum, while the high dividend yield offers some valuation support.
Positive Factors
Stable fee-based CRO business model
Linical’s core fee-for-service CRO model supplies predictable, contract-based revenue from clinical operations, data, medical writing and regulatory support. This diversified service mix and dependence on sponsors’ R&D pipelines creates durable demand and client stickiness across drug development cycles.
Negative Factors
Declining revenues and negative net income
A shrinking top line combined with reported net losses materially reduces scale and operating leverage. Continued revenue decline weakens pricing power and limits reinvestment in staff and quality controls critical for CRO competitiveness, raising structural risk to long-term client retention.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable fee-based CRO business model
Linical’s core fee-for-service CRO model supplies predictable, contract-based revenue from clinical operations, data, medical writing and regulatory support. This diversified service mix and dependence on sponsors’ R&D pipelines creates durable demand and client stickiness across drug development cycles.
Read all positive factors
Linical Co., Ltd. (2183) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥5.78B
Dividend Yield5.44%
Average Volume (3M)14.99K
Price to Earnings (P/E)―
Beta (1Y)0.63
Revenue Growth-15.42%
EPS Growth-879.08%
CountryJP
Employees662
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-27.61
Shares Outstanding24,740,000
10 Day Avg. Volume18,600
30 Day Avg. Volume14,993
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)1.00
Price to Sales (P/S)0.69
P/FCF Ratio12.00
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. provides drug development services primarily in the areas of oncology and central nervous system to pharmaceutical companies worldwide. The company offers drug development consulting services, such as market analysis of products ...
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 portions of their R&D and clinical development work. Revenue is generated through contracts for specific proj...
Linical Co., Ltd. Financial Statement Overview
Summary
Income Statement
40
Negative
Balance Sheet
55
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.14B | 10.44B | 12.31B | 12.52B | 11.56B | 10.28B |
| Gross Profit | 2.00B | 2.01B | 3.43B | 3.84B | 3.34B | 2.54B |
| EBITDA | -99.39M | -46.50M | 1.25B | 1.76B | 1.54B | 880.68M |
| Net Income | -633.62M | -539.10M | 338.27M | 1.00B | 790.49M | 539.97M |
Balance Sheet | ||||||
| Total Assets | 15.22B | 16.78B | 18.54B | 17.46B | 15.72B | 15.28B |
| Cash, Cash Equivalents and Short-Term Investments | 5.53B | 7.04B | 7.47B | 7.04B | 5.99B | 5.08B |
| Total Debt | 2.22B | 2.42B | 3.00B | 3.63B | 4.19B | 4.78B |
| Total Liabilities | 8.53B | 9.52B | 10.30B | 9.88B | 9.17B | 9.57B |
| Stockholders Equity | 6.69B | 7.25B | 8.24B | 7.58B | 6.54B | 5.71B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 602.21M | 1.08B | 1.85B | 1.64B | 30.03M |
| Operating Cash Flow | 0.00 | 605.10M | 1.11B | 1.86B | 1.68B | 52.39M |
| Investing Cash Flow | 0.00 | -54.93M | -70.47M | -31.79M | -32.14M | 140.22M |
| Financing Cash Flow | 0.00 | -939.22M | -960.92M | -957.33M | -951.55M | -329.56M |
Linical Co., Ltd. Technical Analysis
Negative
293.00
Price Trends
292.65
Negative
295.63
Negative
311.22
Negative
Market Momentum
-12.18
Positive
28.69
Positive
10.61
Positive
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 274.94, above the 50-day MA of 292.65, and below the 200-day MA of 311.22, indicating a bearish trend. The MACD of -12.18 indicates Positive momentum. The RSI at 28.69 is Positive, neither overbought nor oversold. The STOCH value of 10.61 is Positive, 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 |
|---|---|---|---|---|---|---|---|
56 Neutral | ¥4.72B | -828.32 | ― | ― | -0.77% | -288.43% | |
56 Neutral | ¥17.31B | 120.78 | ― | ― | 1.24% | -33.41% | |
52 Neutral | ¥5.78B | -2.65 | ― | 5.44% | -15.42% | -879.08% | |
52 Neutral | ¥137.39B | -8.84 | ― | 2.18% | -0.16% | -802.20% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | ¥8.32B | -5.66 | ― | ― | 5.44% | -2.17% | |
43 Neutral | ¥6.46B | -6.68 | ― | ― | ― | ― |
* Healthcare Sector Average
JP:2183
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Linical Co., Ltd. Corporate Events
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...
Linical’s Nine-Month Loss Widens as U.S. and Europe Weigh on Global CRO Results
Feb 13, 2026
Linical Co., Ltd. reported consolidated net sales of ¥6,837 million for the nine months ended December 31, 2025, a 14% year-on-year decline driven mainly by weaker performance in the U.S. and South Korea despite higher sales in Japan, Europe,...
Linical posts deeper nine-month loss but maintains full-year forecast and dividend plan
Feb 13, 2026
Linical Co., Ltd. reported consolidated net sales of ¥6.84 billion for the nine months ended December 31, 2025, down 14% year on year, and posted an operating loss of ¥1.28 billion and a net loss attributable to owners of the parent of &...
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.