M3 (2413) AI Stock Analysis

• Market Cap: ¥1.12T
• Dividend Yield: 1.01%
• Average Volume (3M): 2.99M
• Price to Earnings (P/E): 18.9
• Beta (1Y): 0.86
• Revenue Growth: 33.50%
• EPS Growth: 17.26%
• Country: JP
• Employees: 12,100
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Information Services
• EPS (TTM): 27.95
• Shares Outstanding: 679,120,300
• 10 Day Avg. Volume: 2,689,370
• 30 Day Avg. Volume: 2,988,500
• PEG Ratio: -2.70
• Price to Book (P/B): 3.05
• Price to Sales (P/S): 4.06
• P/FCF Ratio: 25.43
• 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: ¥2,507.27
• Price Target Upside: 16.24% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): 81.89
• Revenue Forecast (FY): ¥391.31B

• Rating: 70 Outperform
• Price Target: ¥1,787.00 ▼(-17.15% Downside)
• Action: Reiterated Date: 02/14/26
• Date: Action: Reiterated 02/14/26

The score is driven primarily by strong financial performance (solid revenue growth, high gross margin, and strong free cash flow with good cash conversion) and a conservative balance sheet. This is tempered by weak technical conditions (price below all major moving averages and negative MACD, despite oversold readings) and a moderate valuation profile (P/E ~24 with a modest dividend yield).

Positive Factors

Strong Free Cash Flow

M3's large absolute free cash flow and strong cash conversion provide durable internal funding for product investment, acquisitions, and shareholder returns. Robust FCF cushions the business through cycles and supports multi-year strategic initiatives without relying on external financing.

Negative Factors

Declining Profitability Metrics

The material drop in EBIT margin and ROE signals reduced operating efficiency or competitive/structural pressures. If persistent, this erosion can limit the firm's ability to convert revenue growth into shareholder returns and constrain long-term reinvestment and dividend capacity.

M3 Business Overview & Revenue Model

Company Description

M3, Inc. provides medical-related services primarily to physicians and other healthcare professionals through Internet. The company operates through five reporting segments: Medical Platform, Evidence Solution, Career Solution, Site Solution, and ...

Read more

M3, Inc. provides medical-related services primarily to physicians and other healthcare professionals through Internet. The company operates through five reporting segments: Medical Platform, Evidence Solution, Career Solution, Site Solution, and ...

How the Company Makes Money

M3 generates revenue through multiple streams, primarily by offering subscription-based services and transaction fees for its digital platforms. The company partners with pharmaceutical companies to provide patient recruitment services for clinica...

Read more

M3 generates revenue through multiple streams, primarily by offering subscription-based services and transaction fees for its digital platforms. The company partners with pharmaceutical companies to provide patient recruitment services for clinica...

M3 Financial Statement Overview

Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	306.89B	284.90B	238.88B	230.82B	208.16B	169.20B
Gross Profit	161.71B	154.36B	140.53B	135.19B	123.27B	103.40B
EBITDA	78.87B	77.71B	78.11B	81.82B	102.51B	64.11B
Net Income	41.08B	40.48B	45.27B	49.03B	63.84B	37.82B
Balance Sheet
Total Assets	584.60B	581.74B	490.78B	400.64B	345.98B	273.12B
Cash, Cash Equivalents and Short-Term Investments	102.14B	166.75B	179.74B	146.25B	141.12B	114.92B
Total Debt	26.14B	51.42B	31.78B	10.38B	8.30B	9.02B
Total Liabilities	175.49B	168.94B	124.08B	91.13B	82.03B	65.86B
Stockholders Equity	374.30B	378.44B	351.92B	302.63B	257.84B	199.81B
Cash Flow
Free Cash Flow	0.00	45.45B	52.90B	51.20B	50.40B	45.40B
Operating Cash Flow	0.00	51.74B	58.31B	57.11B	52.11B	46.63B
Investing Cash Flow	0.00	-39.15B	-29.31B	-27.52B	-26.82B	2.43B
Financing Cash Flow	0.00	-27.16B	-712.00M	-17.25B	-12.96B	-10.45B

M3 Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2157.00
• 50DMA: Positive
• 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:2413, the sentiment is Positive. The current price of 2157 is above the 20-day moving average (MA) of 1614.92, above the 50-day MA of 1665.29, and above the 200-day MA of 2019.27, indicating a neutral trend. The MACD of -4.35 indicates Negative momentum. The RSI at 56.27 is Neutral, neither overbought nor oversold. The STOCH value of 72.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2413.

M3 Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2413	70 Outperform	¥1.12T	18.91	12.15%	1.01%	33.50%	17.26%
9341	67 Neutral	¥10.40B	38.97	―	5.30%	0.09%	-48.79%
3902	63 Neutral	¥65.67B	228.03	―	0.39%	6.17%	-8918.66%
4483	63 Neutral	¥233.94B	26.76	―	0.43%	20.55%	48.62%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
4480	51 Neutral	¥69.14B	77.03	5.76%	―	31.95%	-40.95%
4438	44 Neutral	¥2.79B	-4.28	―	―	16.19%	-4.42%

M3 Corporate Events