Amita Holdings Co., Ltd. (2195) AI Stock Analysis

• Market Cap: ¥6.14B
• Dividend Yield: 1.36%
• Average Volume (3M): 9.56K
• Price to Earnings (P/E): 19.8
• Beta (1Y): 1.12
• Revenue Growth: 3.68%
• EPS Growth: -24.83%
• Country: JP
• Employees: 184
• Sector: Industrials
• Sector Strength: 72
• Industry: Waste Management
• EPS (TTM): 7.16
• Shares Outstanding: 17,556,360
• 10 Day Avg. Volume: 8,960
• 30 Day Avg. Volume: 9,560
• PEG Ratio: -0.63
• Price to Book (P/B): 1.76
• Price to Sales (P/S): 1.06
• P/FCF Ratio: -20.95
• 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: 56 Neutral
• Price Target: ¥353.00 ▲(20.07% Upside)
• Action: Downgraded Date: 02/18/26
• Date: Action: Downgraded 02/18/26

The score is driven primarily by mixed financial performance—margin/earnings softness, higher debt, and negative 2025 free cash flow offset ongoing profitability and positive operating cash flow. Technicals are neutral-to-weak with near-term price softness, while valuation is average with only a modest dividend yield.

Positive Factors

Circular-economy business model

Amita's core focus on circular-economy and resource-circulation services aligns with enduring regulatory and corporate sustainability trends. This business model targets structural demand from corporates and municipalities, supporting multi-year client pipelines and defensible revenue opportunities beyond short-term cycles.

Fee-based & recurring program revenues

The mix of consulting, implementation and ongoing management fees creates recurring and contract-like revenue streams. Recurring program fees boost revenue visibility and client stickiness, lowering churn risk and supporting steady cash inflows across multi-quarter planning horizons for operational stability.

Positive operating cash flow history

Improved operating cash flow in 2025 indicates core services are cash-generative and the company has demonstrated the ability to produce strong free cash flow in prior years. This underlying cash-generative capacity supports reinvestment and debt servicing when operating trends normalize.

Negative Factors

Rising debt and leverage

A meaningful debt increase in 2025 and historically volatile leverage reduce financial flexibility and raise refinancing and interest-rate risk. Higher leverage constrains capital allocation, increases cash flow sensitivity to shocks, and can limit strategic investments or acquisitions over the medium term.

Negative free cash flow in 2025

The swing to negative free cash flow in 2025 signals heavier capex or weaker cash conversion, increasing reliance on external funding or debt. Persistent negative FCF would pressure liquidity and limit the firm's ability to self-fund growth or pay down elevated leverage over the next several quarters.

Choppy revenue and compressed margins

Uneven revenue trends and margin compression reduce the predictability of earnings and long-term return on invested capital. Slower top-line momentum and lower margins constrain internal cash generation and weaken the structural ability to scale profits, making multi-quarter performance more vulnerable to competition and cost shifts.

Amita Holdings Co., Ltd. Business Overview & Revenue Model

Company Description

Amita Holdings Co.,Ltd. provides recycling solutions in Japan and internationally. The company was founded in 1977 and is headquartered in Kyoto, Japan.

How the Company Makes Money

Amita Holdings generates revenue through multiple streams, primarily from the sale of its specialty chemical products and electronic materials. The company has established strong partnerships with key players in the electronics and automotive industries, allowing it to secure long-term contracts and consistent demand for its products. Additionally, Amita Holdings invests in research and development to create cutting-edge materials that meet evolving market needs, which helps to drive sales and maintain competitive advantage. The company's revenue is further supported by its ability to diversify its product offerings and expand into emerging markets.

Amita Holdings Co., Ltd. Financial Statement Overview

Summary

Overall financial quality is mixed: profitability is consistent but earnings and margins softened in 2025, revenue trends are uneven, debt increased meaningfully in 2025 (raising leverage risk), and free cash flow turned negative despite positive operating cash flow.

Income Statement

Revenue has been choppy over the last several years—up in 2024 but slightly down again in 2025—suggesting limited top-line momentum. Profitability remains positive, but margins have generally compressed from the stronger 2021–2022 period, with 2025 showing lower earnings versus 2024. Overall, the company looks consistently profitable, but growth and margin trajectory are mixed.

Balance Sheet

The balance sheet shows a meaningful rise in debt in 2025 versus 2024, increasing financial risk compared with the prior year. Equity has grown over time and total assets have expanded, which supports scale and balance-sheet capacity. However, leverage has been volatile historically (including very high leverage earlier in the period), and the recent debt step-up is a key watch item.

Cash Flow

Operating cash flow is positive and improved in 2025 versus 2024, but free cash flow turned negative in 2025 after being modestly positive in 2024, pointing to heavier investment or weaker cash conversion. Earlier years show the business can generate strong free cash flow, yet the recent swing introduces uncertainty around near-term cash generation and funding needs.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.96B	4.87B	4.93B	4.54B	4.82B	5.16B
Gross Profit	2.23B	2.18B	2.23B	2.14B	2.14B	2.00B
EBITDA	671.93M	640.40M	660.87M	667.44M	868.41M	753.07M
Net Income	336.04M	310.97M	423.18M	308.35M	531.24M	632.84M
Balance Sheet
Total Assets	7.45B	7.68B	6.59B	6.18B	4.82B	4.43B
Cash, Cash Equivalents and Short-Term Investments	3.72B	3.12B	2.73B	2.83B	1.78B	1.39B
Total Debt	2.86B	2.68B	2.01B	2.09B	1.29B	1.40B
Total Liabilities	4.69B	4.68B	3.86B	3.91B	2.82B	2.97B
Stockholders Equity	2.70B	2.94B	2.67B	2.27B	2.00B	1.46B
Cash Flow
Free Cash Flow	0.00	-246.35M	61.04M	327.35M	482.72M	799.78M
Operating Cash Flow	0.00	584.79M	474.64M	725.47M	585.08M	873.22M
Investing Cash Flow	0.00	-804.12M	-514.49M	-441.03M	-69.84M	-73.97M
Financing Cash Flow	0.00	601.67M	-108.99M	754.43M	-142.17M	-649.52M

Amita Holdings Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 294.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2195, the sentiment is Positive. The current price of 294 is below the 20-day moving average (MA) of 353.10, below the 50-day MA of 345.76, and below the 200-day MA of 346.26, indicating a neutral trend. The MACD of -3.30 indicates Positive momentum. The RSI at 49.19 is Neutral, neither overbought nor oversold. The STOCH value of 42.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2195.

Amita Holdings Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9247	76 Outperform	¥92.31B	6.24	―	2.77%	24.61%	185.90%
9793	73 Outperform	¥188.13B	20.74	10.88%	2.20%	6.63%	-3.05%
5698	73 Outperform	¥30.40B	16.56	―	2.62%	-9.37%	590.66%
9336	73 Outperform	¥385.59B	27.83	―	1.30%	8.33%	1.73%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
4245	57 Neutral	¥10.29B	22.26	―	3.34%	7.12%	-43.68%
2195	56 Neutral	¥6.14B	19.76	―	1.36%	3.68%	-24.83%

Amita Holdings Co., Ltd. Corporate Events

Amita Holdings Posts Lower FY2025 Profit but Signals Earnings Rebound and Higher Dividend

Amita Holdings reported fiscal 2025 consolidated net sales of ¥4,865 million, down 1.3% year on year, with operating profit declining 7.9% to ¥435 million and profit attributable to owners of parent falling 26.5% to ¥310 million, as margins softened and basic earnings per share dropped to ¥17.72. Despite the weaker earnings, total assets rose to ¥7,681 million and net assets to ¥3,003 million, cash and cash equivalents increased to ¥3,119 million, and the company raised its annual dividend from ¥4 to ¥5 per share while forecasting a 6.9% rise in net sales and a 16.7% increase in profit for fiscal 2026, signaling confidence in earnings recovery and continued shareholder returns.

The company’s equity-to-asset ratio edged down to 38.3% from 40.5% as the balance sheet expanded, but operating cash flow strengthened to ¥584 million, offsetting heavier investment outflows and supported by positive financing cash flows. Management expects fiscal 2026 operating profit of ¥500 million and ordinary profit of ¥566 million under revised accounting policies and estimates, positioning the group for improved profitability and a stable dividend payout ratio in the mid-20% range, which is likely to reassure investors focused on both growth and capital efficiency.

The most recent analyst rating on (JP:2195) stock is a Buy with a Yen405.00 price target. To see the full list of analyst forecasts on Amita Holdings Co., Ltd. stock, see the JP:2195 Stock Forecast page.