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

• Market Cap: ¥5.76B
• Dividend Yield: 1.36%
• Average Volume (3M): 9.56K
• Price to Earnings (P/E): 16.6
• Beta (1Y): 1.13
• 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: ¥327.00 ▲(11.22% 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

Operating Cash Flow Strength

Improved and positive operating cash flow indicates the core business generates cash from operations, supporting working capital and recurring service delivery. Over 2–6 months this reduces reliance on external financing and helps fund projects, sustaining operational resilience.

Balance-sheet Scale

Growing equity and expanded assets create capacity to take on larger municipal and corporate contracts and absorb shocks. This structural balance-sheet expansion supports scale, underwriting future investments in service capabilities and long-term program commitments.

Circular-economy Business Model

A business centered on waste consulting, planning and ongoing management creates recurring fee streams and client stickiness. Structural demand for resource-circulation solutions supports steady contract opportunities and predictable service revenues over the medium term.

Negative Factors

Rising Debt / Leverage Risk

A material increase in debt raises leverage and interest exposure, constraining financial flexibility. Over several months higher leverage heightens refinancing and covenant risk, limiting ability to fund growth or respond to slower revenue without raising costly capital.

Negative Free Cash Flow

A swing to negative free cash flow undermines internal funding for investments and dividends, increasing reliance on external financing. Persisting negative FCF would pressure liquidity and could force cutbacks in investments or require new debt/equity within months.

Choppy Revenue and Margin Compression

Inconsistent top-line growth and compressed margins reduce visibility into sustainable earnings power. Over the medium term weak revenue momentum and lower margins make profitability more sensitive to demand swings and cost inflation, weakening durable earnings prospects.

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

Revenue is generated primarily by providing environmental and circular-economy-related services to organizations, such as advisory/consulting, planning, and implementation support for waste reduction and resource circulation initiatives. The company also earns fees from operating and managing related programs/services for clients (e.g., ongoing support/management arrangements tied to resource-circulation outcomes). null

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	693.74M	640.40M	660.87M	617.17M	749.46M	703.86M
Net Income	335.58M	310.97M	423.18M	308.35M	531.24M	632.84M
Balance Sheet
Total Assets	7.45B	7.68B	6.60B	6.18B	4.83B	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	3.87B	3.91B	2.83B	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	399.11M	504.58M	804.76M
Operating Cash Flow	0.00	584.79M	474.64M	725.47M	585.08M	873.22M
Investing Cash Flow	0.00	-804.12M	-449.77M	-441.03M	-69.84M	-73.97M
Financing Cash Flow	0.00	601.67M	-173.71M	754.43M	-142.17M	-649.52M

Amita Holdings Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 294.00
• 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:2195, the sentiment is Neutral. The current price of 294 is below the 20-day moving average (MA) of 327.80, below the 50-day MA of 352.90, and below the 200-day MA of 346.72, indicating a neutral trend. The MACD of -7.30 indicates Negative momentum. The RSI at 48.46 is Neutral, neither overbought nor oversold. The STOCH value of 63.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	¥81.68B	5.37	―	2.77%	24.61%	185.90%
9793	73 Outperform	¥186.47B	17.31	11.00%	2.20%	6.63%	-3.05%
5698	73 Outperform	¥28.89B	7.02	―	2.62%	-9.37%	590.66%
9336	73 Outperform	¥387.08B	25.33	―	1.30%	8.33%	1.73%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
4245	57 Neutral	¥9.42B	19.50	―	3.34%	7.12%	-43.68%
2195	56 Neutral	¥5.76B	16.59	―	1.36%	3.68%	-24.83%

Amita Holdings Co., Ltd. Corporate Events

Amita Holdings Lifts Dividend as Profit Declines but Forecasts 2026 Recovery

Amita Holdings reported a slight 1.3% decline in 2025 net sales to ¥4.87 billion, with operating profit down 7.9% and profit attributable to owners of parent dropping 26.5% to ¥310 million, as margins softened and comprehensive income fell nearly 30%. Despite weaker earnings, total assets rose to ¥7.68 billion and cash and cash equivalents increased to ¥3.12 billion, while the equity ratio slipped to 38.3% amid higher investment outflows.

The company raised its annual dividend from ¥4 to ¥5 per share for 2025, increasing the payout ratio to 28.2%, and plans to maintain the ¥5 dividend in 2026, signaling a commitment to shareholder returns. For the 2026 fiscal year, Amita forecasts a recovery with net sales up 6.9% to ¥5.2 billion and profit attributable to owners of parent up 16.7% to ¥363 million, suggesting management expects operational improvements and better profitability following changes in accounting policies and estimates.

The most recent analyst rating on (JP:2195) stock is a Hold with a Yen358.00 price target. To see the full list of analyst forecasts on Amita Holdings Co., Ltd. stock, see the JP:2195 Stock Forecast page.

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.