M3 Inc (JP:2413)
:2413
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M3
(2413)
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Rating:68Neutral
Price Target:
¥1,925.00
▼(-10.76% Downside)
Action:Downgraded
Date:05/03/26
The score is driven primarily by strong financial quality (low leverage, solid profitability, improving growth, and robust free cash flow). This is partially offset by clearly weak technical conditions (below major moving averages with negative momentum indicators) and only moderately supportive valuation (P/E ~18.9; ~1.47% yield).
Positive Factors
Revenue growth momentum
Re-acceleration to 14.5% revenue growth in 2026 signals durable demand for M3's healthcare platforms and services. Sustained top-line expansion supports scale benefits across marketing, research and education offerings, improving long-term competitive position and product investment capacity.
Negative Factors
Margin compression vs prior years
Observed margin compression from 2022–2024 suggests either rising cost base or a shift to lower-margin offerings. If structural, this reduces operating leverage and the cash buffer for reinvestment, making earnings more sensitive to demand swings and limiting long-term profit expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth momentum
Re-acceleration to 14.5% revenue growth in 2026 signals durable demand for M3's healthcare platforms and services. Sustained top-line expansion supports scale benefits across marketing, research and education offerings, improving long-term competitive position and product investment capacity.
Read all positive factors
M3 (2413) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.20T
Dividend Yield1.01%
Average Volume (3M)2.99M
Price to Earnings (P/E)24.4
Beta (1Y)0.74
Revenue Growth23.33%
EPS Growth21.65%
CountryJP
Employees12,100
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)60.49
Shares Outstanding679,124,300
10 Day Avg. Volume2,689,370
30 Day Avg. Volume2,988,500
Financial Highlights & Ratios
PEG Ratio1.02
Price to Book (P/B)2.66
Price to Sales (P/S)3.09
P/FCF Ratio17.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,180.00Price Target Upside1.07% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)81.71
Revenue Forecast (FY)¥392.57B
M3 Business Overview & Revenue Model
Company Description
M3, Inc. is a Japanese company that delivers a broad spectrum of internet-based services, predominantly catering to medical professionals and the broader healthcare industry. Its operations are segmented into five key areas: Medical Platform, Evid...
How the Company Makes Money
M3 makes money by operating healthcare and life-sciences platforms and selling services to both healthcare professionals (via platform offerings) and, more significantly, to enterprise customers such as pharmaceutical and medical device companies ...
M3 Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
80
Positive
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 306.89B | 351.36B | 284.90B | 238.88B | 230.82B | 208.16B |
| Gross Profit | 161.71B | 175.84B | 154.36B | 140.53B | 135.19B | 123.27B |
| EBITDA | 78.87B | 94.52B | 77.71B | 78.11B | 81.82B | 102.51B |
| Net Income | 41.08B | 49.10B | 40.48B | 45.27B | 49.03B | 63.84B |
Balance Sheet | ||||||
| Total Assets | 584.60B | 637.40B | 581.74B | 490.78B | 400.64B | 345.98B |
| Cash, Cash Equivalents and Short-Term Investments | 102.14B | 156.18B | 166.75B | 179.74B | 146.25B | 141.12B |
| Total Debt | 26.14B | 33.15B | 51.42B | 31.78B | 10.38B | 8.30B |
| Total Liabilities | 175.49B | 190.75B | 168.94B | 124.08B | 91.13B | 82.03B |
| Stockholders Equity | 374.30B | 408.22B | 378.44B | 351.92B | 302.63B | 257.84B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 62.58B | 45.45B | 52.90B | 51.20B | 50.40B |
| Operating Cash Flow | 0.00 | 70.26B | 51.74B | 58.31B | 57.11B | 52.11B |
| Investing Cash Flow | 0.00 | -15.89B | -39.15B | -29.31B | -27.52B | -26.82B |
| Financing Cash Flow | 0.00 | -35.47B | -27.16B | -712.00M | -17.25B | -12.96B |
M3 Technical Analysis
Positive
2157.00
Price Trends
1520.19
Positive
1582.65
Positive
1896.27
Negative
Market Momentum
64.85
Negative
76.75
Negative
93.36
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2413, the sentiment is Positive. The current price of 2157 is above the 20-day moving average (MA) of 1625.85, above the 50-day MA of 1520.19, and above the 200-day MA of 1896.27, indicating a neutral trend. The MACD of 64.85 indicates Negative momentum. The RSI at 76.75 is Negative, neither overbought nor oversold. The STOCH value of 93.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2413.
M3 Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ¥1.20T | 24.36 | 12.15% | 1.01% | 23.33% | 21.65% | |
60 Neutral | ¥181.34B | 26.79 | ― | 0.43% | 20.95% | 13.38% | |
54 Neutral | ¥10.51B | 37.09 | ― | 5.30% | 15.59% | -80.10% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | ¥64.82B | 63.99 | 5.76% | ― | 23.30% | -56.05% | |
43 Neutral | ¥2.03B | -3.80 | ― | ― | 18.86% | 38.80% |
* Healthcare Sector Average
JP:2413
M3
1,766.50
-193.34
-9.87%
JP:4480
Medley
1,980.00
-1,200.00
-37.74%
JP:4438
Welby Inc.
241.00
-111.00
-31.53%
JP:4483
JMDC Inc.
2,771.00
-1,193.71
-30.11%
JP:9341
GENOVA Inc.
589.00
-97.97
-14.26%
M3 Corporate Events
M3 Affirms Independence Despite Sony’s 34.5% Stake and Reports No Dealings in FY2025
Jun 12, 2026
M3, Inc., a Tokyo-based digital healthcare and medical information services company listed on the TSE Prime Market, counts Sony Group Corporation as an other affiliate company holding 34.5% of its voting rights. Despite this significant stake, M3 ...
M3 to Consolidate WISEMAN Through Share Acquisition
Jun 5, 2026
M3, Inc. has announced the acquisition of shares in WISEMAN Co., Ltd., leading to the consolidation of WISEMAN as a group company. The move signals an effort by M3 to integrate WISEMAN more tightly into its corporate structure, which may enhance o...
M3 to Acquire WISEMAN to Boost Healthcare and Nursing Care DX
Jun 5, 2026
M3, Inc. has decided to acquire all outstanding shares of WISEMAN Co., Ltd., a software developer specializing in systems for medical, nursing care, and welfare institutions, thereby making it a consolidated subsidiary. WISEMAN, founded in 1983 an...
M3 Reports No Share Buybacks So Far Under ¥20 Billion Repurchase Plan
Jun 1, 2026
M3, Inc. reported that it did not repurchase any of its own common shares during the period from May 2 to May 31, 2026, despite having board authorization to conduct buybacks via open-market purchases on the Tokyo Stock Exchange. The company still...
M3 Issues Investor Presentation With Caution on Projections
May 1, 2026
M3, Inc. has released a presentation outlining forecasts, plans, management targets, and other projections for the company and its group based on currently available data. The company emphasizes that these projections may differ from actual result...
M3 Launches Up to ¥20 Billion Share Buyback to Bolster Capital Efficiency
May 1, 2026
M3, Inc. has approved a share repurchase program of up to 20 million common shares, representing about 3.00% of outstanding stock, for a total consideration of up to 20 billion yen. The buyback, to be executed via open-market purchases on the Toky...
M3 Lifts Profit 21% and Hikes Dividend as It Targets Further Growth in FY2027
May 1, 2026
M3 reported strong results for the fiscal year ended March 31, 2026, with revenue climbing 23.3% to ¥351.4 billion and profit attributable to owners of the parent rising 21.3% to ¥49.1 billion. Operating cash flow improved to ¥70.3 ...
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.