Planet, Inc. (2391) AI Stock Analysis

• Market Cap: ¥8.32B
• Dividend Yield: 3.47%
• Average Volume (3M): 5.41K
• Price to Earnings (P/E): 19.9
• Beta (1Y): 0.18
• Revenue Growth: -0.94%
• EPS Growth: -7.43%
• Country: JP
• Employees: 47
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 15.54
• Shares Outstanding: 6,632,800
• 10 Day Avg. Volume: 2,110
• 30 Day Avg. Volume: 5,413
• PEG Ratio: -1.65
• Price to Book (P/B): 1.49
• Price to Sales (P/S): 2.65
• P/FCF Ratio: 15.84
• 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: 75 Outperform
• Price Target: ¥1,430.00 ▲(15.51% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is driven primarily by strong financial quality (notably a debt-free balance sheet and solid cash backing of earnings), partially offset by a sharp 2025 revenue decline and some margin compression. Technicals are supportive with price above major moving averages and positive momentum, and valuation is reasonable with a ~3.44% dividend yield providing additional support.

Positive Factors

Debt-Free Balance Sheet

A debt-free balance sheet provides high financial flexibility and reduces solvency risk, allowing the company to navigate economic uncertainties effectively.

Cash Generation

Strong cash generation supports operational stability and provides the company with resources to invest in growth opportunities or weather downturns.

Equity Growth

Steady equity growth indicates a solid financial foundation and the ability to generate value for shareholders over the long term.

Negative Factors

Revenue Decline

A significant revenue decline suggests potential challenges in demand or market conditions, which could impact future growth and profitability.

Margin Compression

Margin compression indicates reduced pricing power or increased costs, which could affect profitability and competitiveness in the long term.

Free Cash Flow Volatility

Volatile free cash flow can signal instability in cash management and may hinder the company's ability to fund operations and growth consistently.

Planet, Inc. Business Overview & Revenue Model

Company Description

Planet, Inc. provides electronic data interchange (EDI) services in Japan. It engages in the standardization of data interchange among companies for ordering, shipping, billing, and payment transactions. The company offers Basic EDI, a service that supports the transactions between manufacturers and wholesalers; MITEOS, a system that can process orders and creates and sends purchasing information on a web browser between wholesalers and its partner manufacturers; Web ordering, a service that supports EDI between Planet participating manufacturers and wholesalers; Sales report service in which Planet receives sales data sent from wholesalers to manufacturers; Material EDI, a solution between consumer goods manufacturers and material suppliers. It also provides Business Partner Database that provides standard business partner code information, used to specify delivery destinations for EDI services; and Product Database, a service that offers product information, such as cosmetics, pet food and supplies, OTC medicines, and other products. In addition, the company offers Buyers' Net, an information service that supports businesses merchandising operations between manufacturers, wholesalers, and retailers. Planet, Inc. was incorporated in 1985 and is based in Tokyo, Japan.

How the Company Makes Money

Planet, Inc. generates revenue primarily through the sale of satellite imagery and geospatial data services. Its key revenue streams include subscription-based access to its satellite imagery platform, custom data analytics services, and licensing of its imagery for commercial use. The company also partners with government agencies, research institutions, and private enterprises, offering tailored solutions that leverage its satellite data. These collaborations often enhance its service offerings and expand its market reach, contributing significantly to its earnings. Additionally, Planet, Inc. continuously invests in research and development to improve its satellite technology, ensuring it remains competitive and can offer innovative products that meet the evolving needs of its customers.

Planet, Inc. Financial Statement Overview

Summary

Strong overall financial profile supported by a debt-free balance sheet and generally good cash conversion. The main offset is a sharp 2025 revenue decline (-28.1% YoY) alongside margin compression versus prior years, which raises concerns about demand softness and earnings durability.

Income Statement

Profitability remains solid, with gross margin still strong (about 62% in 2025 vs. ~66% in 2022) and healthy operating profitability (2025 EBIT margin ~17.8%, EBITDA margin ~26.5%). However, the business has clearly cooled: 2025 revenue fell sharply (-28.1% YoY) and margins have compressed versus prior years (net margin ~12.7% in 2025 vs. ~16.8% in 2022), signaling weaker demand and/or pricing pressure.

Balance Sheet

The balance sheet is exceptionally conservative with zero debt across all reported years, providing high financial flexibility and low solvency risk. Equity has grown steadily (roughly ¥4.4B in 2020 to ¥5.6B in 2025) and returns on equity remain positive (~7.1% in 2025), though profitability on equity has eased from the ~10% range in 2021–2022.

Cash Flow

Cash generation is generally strong and earnings are backed by cash: in 2025, operating cash flow exceeded net income (about 1.05x) and free cash flow was nearly equal to net income (~0.99x). The main weakness is volatility in free cash flow over time (notably lower conversion in 2023–2024, with free cash flow at ~33% and ~51% of net income, respectively), suggesting swings in working capital and/or investment timing.

Breakdown	Jul 2025	Jul 2024	Jul 2023	Jul 2022	Jul 2021
Income Statement
Total Revenue	3.16B	3.17B	3.13B	3.13B	3.07B
Gross Profit	1.95B	2.02B	2.04B	2.07B	2.00B
EBITDA	868.00M	901.00M	864.00M	949.00M	946.00M
Net Income	400.00M	458.00M	442.00M	526.00M	498.00M
Balance Sheet
Total Assets	6.65B	6.56B	6.37B	6.27B	5.82B
Cash, Cash Equivalents and Short-Term Investments	2.96B	2.68B	2.60B	2.72B	2.53B
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	1.02B	1.13B	1.02B	1.11B	987.00M
Stockholders Equity	5.63B	5.42B	5.34B	5.16B	4.83B
Cash Flow
Free Cash Flow	529.00M	319.34M	208.75M	468.20M	599.70M
Operating Cash Flow	532.00M	625.49M	632.22M	689.05M	779.95M
Investing Cash Flow	-19.00M	-267.73M	-470.44M	-214.84M	-243.43M
Financing Cash Flow	-285.00M	-285.10M	-278.49M	-278.77M	-275.20M

Planet, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1238.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2391, the sentiment is Positive. The current price of 1238 is below the 20-day moving average (MA) of 1262.50, below the 50-day MA of 1258.99, and below the 200-day MA of 1238.00, indicating a neutral trend. The MACD of -2.35 indicates Positive momentum. The RSI at 49.01 is Neutral, neither overbought nor oversold. The STOCH value of 86.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2391.

Planet, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2332	80 Outperform	¥8.12B	9.80	―	3.16%	14.02%	2.74%
3984	80 Outperform	¥23.81B	16.06	―	0.73%	17.86%	21.52%
2391	75 Outperform	¥8.32B	19.89	―	3.47%	-0.94%	-7.43%
3393	74 Outperform	¥26.98B	11.13	―	4.36%	12.32%	10.42%
5574	74 Outperform	¥29.21B	35.99	―	―	29.61%	93.16%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
5255	42 Neutral	¥6.66B	-28.24	―	―	-29.41%	79.74%