DeNA Co Ltd (JP:2432)
:2432
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DeNA Co
(2432)
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Rating:74Outperform
Price Target:
¥2,943.00
▲(14.76% Upside)
Action:ReiteratedDate:02/07/26
The score is driven primarily by improved profitability and solid recent cash flow with a conservative balance sheet, tempered by multi-year volatility in revenue and results. Technicals support the outlook with an established uptrend, and valuation appears reasonable given the low P/E and moderate dividend yield.
Positive Factors
Conservative balance sheet
Modest leverage gives DeNA financial resilience in a hit-driven industry. Conservative debt levels reduce refinancing and interest risks, preserving capacity to fund live-ops, new titles, or strategic investments during down cycles and supporting multi-quarter operational stability.
Negative Factors
Multi-year revenue and earnings volatility
Material multi-year swings in revenue and earnings make long-term planning and forecasting difficult. Volatility raises execution risk for content pipelines, complicates capacity investments, and can force cyclical operating adjustments that hinder stable growth trajectories.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Modest leverage gives DeNA financial resilience in a hit-driven industry. Conservative debt levels reduce refinancing and interest risks, preserving capacity to fund live-ops, new titles, or strategic investments during down cycles and supporting multi-quarter operational stability.
Read all positive factors
DeNA Co (2432) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥287.15B
Dividend Yield2.52%
Average Volume (3M)2.14M
Price to Earnings (P/E)―
Beta (1Y)0.84
Revenue Growth8.31%
EPS Growth37.90%
CountryJP
Employees2,897
SectorIndustrials
Sector Strength72
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)N/A
Shares Outstanding122,145,546
10 Day Avg. Volume2,100,700
30 Day Avg. Volume2,136,333
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)1.62
Price to Sales (P/S)2.38
P/FCF Ratio11.25
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
DeNA Co Business Overview & Revenue Model
Company Description
DeNA Co., Ltd. develops and operates mobile and online services worldwide. The company operates through Game Business, Sports Business, Live Streaming Business, Healthcare Business, and New Businesses and Others segments. It operates Mobage, an en...
How the Company Makes Money
DeNA generates revenue primarily through the sale of virtual goods within its mobile games, which is a significant portion of its income. The company employs a freemium model, offering games for free while monetizing through in-app purchases. Addi...
DeNA Co Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 161.72B | 164.00B | 136.73B | 134.91B | 130.87B | 136.97B |
| Gross Profit | 92.84B | 91.31B | 59.23B | 62.12B | 63.64B | 70.87B |
| EBITDA | 43.49B | 37.59B | 7.20B | 9.89B | 14.32B | 23.57B |
| Net Income | 25.26B | 24.19B | -28.68B | 8.86B | 30.53B | 25.63B |
Balance Sheet | ||||||
| Total Assets | 374.99B | 394.19B | 335.71B | 348.94B | 340.57B | 327.12B |
| Cash, Cash Equivalents and Short-Term Investments | 97.53B | 92.80B | 71.40B | 97.73B | 78.30B | 97.30B |
| Total Debt | 48.06B | 48.41B | 44.51B | 45.16B | 28.27B | 27.14B |
| Total Liabilities | 115.30B | 141.31B | 115.68B | 114.95B | 95.66B | 98.46B |
| Stockholders Equity | 251.44B | 241.73B | 209.20B | 221.63B | 240.63B | 223.71B |
Cash Flow | ||||||
| Free Cash Flow | 43.42B | 34.75B | -14.38B | 10.18B | 17.88B | 26.53B |
| Operating Cash Flow | 50.85B | 39.00B | -10.84B | 10.81B | 18.38B | 29.97B |
| Investing Cash Flow | -17.17B | -12.26B | -12.30B | 12.95B | -19.59B | -7.22B |
| Financing Cash Flow | -9.78B | -5.46B | -4.43B | -5.43B | -18.88B | 5.20B |
DeNA Co Technical Analysis
Positive
2564.50
Price Trends
2555.34
Positive
2495.31
Positive
2424.15
Positive
Market Momentum
50.39
Negative
65.98
Neutral
83.26
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2432, the sentiment is Positive. The current price of 2564.5 is below the 20-day moving average (MA) of 2564.79, above the 50-day MA of 2555.34, and above the 200-day MA of 2424.15, indicating a bullish trend. The MACD of 50.39 indicates Negative momentum. The RSI at 65.98 is Neutral, neither overbought nor oversold. The STOCH value of 83.26 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2432.
DeNA Co Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥287.15B | -11.40 | 17.98% | 2.52% | 8.31% | 37.90% | |
69 Neutral | ¥170.81B | 7.96 | 10.05% | 4.61% | 5.86% | 43.24% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | ¥135.78B | 97.57 | 3.38% | 2.38% | -10.00% | -87.03% | |
60 Neutral | ¥39.78B | 9.53 | ― | 4.06% | 2.95% | 174.57% | |
54 Neutral | ¥66.45B | 111.53 | 1.59% | 2.09% | -9.60% | -69.84% | |
43 Neutral | ¥19.41B | -95.92 | ― | ― | -17.46% | -28.71% |
* Industrials Sector Average
JP:2432
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DeNA Co Corporate Events
DeNA Shifts to DOE-Based Dividend Policy and Hikes FY2026 Payout Forecast
Feb 5, 2026
DeNA has overhauled its dividend policy to prioritize stable shareholder returns tied to capital efficiency, shifting from a payout-ratio-based framework to targeting a dividend on equity (DOE) of around 3% on a consolidated basis from the fiscal ...
DeNA Cuts Profit Outlook on Goodwill Impairment Despite Solid Core Businesses
Feb 5, 2026
DeNA has revised its consolidated earnings forecast for the fiscal year ending March 31, 2026, lowering its projections for IFRS-based operating profit and non-GAAP operating profit, while keeping revenue broadly in line with previous expectations...
DeNA Lifts Dividend Outlook Despite Lower Revenue and Profit Forecasts
Feb 5, 2026
DeNA reported consolidated revenue of ¥114.5 billion for the nine months ended December 31, 2025, down 1.9% year on year, while operating profit fell 19.5% to ¥16.9 billion, but profit before tax and profit attributable to owners of the ...
DeNA Affiliate GO Inc. Applies for Tokyo Stock Exchange Listing
Feb 2, 2026
DeNA announced that its equity-method affiliate GO Inc., a long-established mobility services provider that operates taxi dispatch and related systems, has applied for listing on the Tokyo Stock Exchange. The potential listing, which remains subje...
DeNA to Receive Significant Dividend from Cygames
Nov 14, 2025
DeNA Co., Ltd. announced it will receive a dividend of 8.379 billion yen from its equity-method affiliate, Cygames, Inc., following a resolution by CyberAgent, Inc., the largest shareholder of Cygames. This dividend will be recorded as non-operati...
DeNA Co. Announces New Management Policy for Sustainable Growth
Nov 10, 2025
DeNA Co., Ltd. has announced a new policy initiative aimed at enhancing management practices with a focus on cost of capital and stock price, targeting sustainable growth and increased corporate value in the medium to long term. The company plans ...
DeNA Co., Ltd. Strengthens AI Focus with New Investment Partnership
Nov 10, 2025
DeNA Co., Ltd. has announced the establishment of the Delight Ventures Builder III Investment Limited Partnership, aimed at strengthening its AI initiatives under the AI-ALL-IN policy. This investment is expected to enhance the startup ecosystem a...
DeNA Co. Reports Robust Financial Growth in First Half of 2025
Nov 10, 2025
DeNA Co., Ltd. reported a significant increase in its financial performance for the six months ended September 30, 2025, with revenue rising by 18.3% and operating profit surging by 354.1% compared to the previous year. The company’s strong ...
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.