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Adways, Inc.
(2489)
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Rating:63Neutral
Price Target:
¥335.00
▲(24.07% Upside)
Action:Reiterated
Date:08/06/26
The score is anchored by a very conservative balance sheet but held back by weak recent free cash flow and inconsistent profitability. Technicals are supportive with a clear uptrend and positive momentum. Valuation is a modest headwind given the relatively high P/E versus the company’s uneven earnings and cash conversion.
Positive Factors
Conservative balance sheet
Adways' essentially debt-free balance sheet and sizable equity provide durable financial flexibility. This structure lowers refinancing and liquidity risk, supports investment or M&A when earnings dip, and allows the company to absorb cyclical advertising downturns without immediate balance-sheet stress.
Negative Factors
Negative free cash flow multi-year
Persistent negative free cash flow despite positive operating profit erodes cash generation quality. Multi-year FCF deficits limit capacity for dividends, buybacks, or debt reduction, and suggest working-capital swings or investments that could constrain financial flexibility during slower revenue periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Adways' essentially debt-free balance sheet and sizable equity provide durable financial flexibility. This structure lowers refinancing and liquidity risk, supports investment or M&A when earnings dip, and allows the company to absorb cyclical advertising downturns without immediate balance-sheet stress.
Read all positive factors
Adways, Inc. (2489) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥12.27B
Dividend Yield2.03%
Average Volume (3M)110.03K
Price to Earnings (P/E)27.3
Beta (1Y)0.99
Revenue Growth-1.25%
EPS GrowthN/A
CountryJP
Employees949
SectorCommunication Services
Sector Strength97
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)11.60
Shares Outstanding42,006,000
10 Day Avg. Volume94,300
30 Day Avg. Volume110,030
Financial Highlights & Ratios
PEG Ratio-0.27
Price to Book (P/B)0.76
Price to Sales (P/S)0.84
P/FCF Ratio-81.16
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)38.4
Revenue Forecast (FY)¥15.50B
Adways, Inc. Business Overview & Revenue Model
Company Description
Adways Inc. offers affiliate advertising services across PC and mobile platforms, in addition to mobile application and content development, with operations spanning Japan, China, Taiwan, the Philippines, and the United States. Its diverse portfol...
How the Company Makes Money
Detailed, company-specific information on Adways, Inc.’s revenue model, key revenue streams (e.g., fee structures, platform/service lines), and significant partnerships or other material earnings drivers is null....
Adways, Inc. Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
86
Very Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.37B | 12.22B | 12.68B | 13.52B | 13.42B | 12.93B |
| Gross Profit | 10.27B | 10.10B | 10.35B | 10.95B | 10.81B | 10.61B |
| EBITDA | 990.81M | 780.62M | 370.14M | 1.82B | 4.42B | 2.36B |
| Net Income | 453.17M | 252.90M | -473.46M | 966.14M | 2.54B | 1.37B |
Balance Sheet | ||||||
| Total Assets | 23.63B | 22.30B | 22.88B | 25.42B | 27.91B | 25.43B |
| Cash, Cash Equivalents and Short-Term Investments | 9.84B | 9.92B | 10.04B | 10.19B | 12.87B | 12.76B |
| Total Debt | 0.00 | 0.00 | 3.22M | 20.68M | 0.00 | 0.00 |
| Total Liabilities | 9.40B | 8.34B | 9.00B | 10.82B | 11.59B | 10.49B |
| Stockholders Equity | 13.93B | 13.65B | 13.61B | 14.36B | 16.03B | 14.66B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -127.12M | -216.90M | 161.55M | 129.64M | 1.02B |
| Operating Cash Flow | 0.00 | 216.01M | 338.75M | 810.15M | 538.11M | 1.14B |
| Investing Cash Flow | 0.00 | -132.61M | 3.00M | -313.02M | 1.81B | -428.56M |
| Financing Cash Flow | 0.00 | -134.79M | -236.44M | -2.86B | -1.91B | 2.67B |
Adways, Inc. Technical Analysis
Positive
270.00
Price Trends
292.52
Positive
284.92
Positive
278.92
Positive
Market Momentum
6.12
Positive
57.49
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2489, the sentiment is Positive. The current price of 270 is below the 20-day moving average (MA) of 311.20, below the 50-day MA of 292.52, and below the 200-day MA of 278.92, indicating a bullish trend. The MACD of 6.12 indicates Positive momentum. The RSI at 57.49 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2489.
Adways, Inc. Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥6.52B | 12.39 | ― | 6.36% | 2.36% | -15.08% | |
64 Neutral | ¥5.88B | 18.54 | ― | ― | 9.66% | -14.00% | |
63 Neutral | ¥12.27B | 27.33 | ― | 1.09% | -1.25% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
58 Neutral | ¥12.15B | 10.53 | ― | ― | 18.15% | -47.04% | |
50 Neutral | ¥1.26B | -17.85 | ― | ― | -11.30% | 61.20% |
* Communication Services Sector Average
JP:2489
Adways, Inc.
315.00
20.93
7.12%
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SMN Corporation
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Geniee, Inc.
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logly, Inc.
359.00
-46.00
-11.36%
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.