Synspective Inc. (JP:290A)
:290A
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Synspective Inc.
(290A)
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Rating:54Neutral
Price Target:
¥1,243.00
▼(-7.65% Downside)
Action:ReiteratedDate:02/18/26
The score is held back primarily by weak financial performance (persistent operating losses and strongly negative free cash flow, alongside rising debt). Technicals are a clear positive with an uptrend and supportive momentum, but valuation remains unattractive given the lack of profitability and no dividend support.
Positive Factors
Scalable revenue growth
Sustained top-line scaling from 2022–2024 with continued positive growth in 2025 indicates durable demand for SAR data and services. Persistent revenue expansion supports longer-term investment in constellation capacity, recurring license sales, and upsell of analytics, improving prospects for eventual margin leverage.
Negative Factors
Persistent operating losses
Consistent deep operating losses across years indicate the business has not yet achieved profitable unit economics. Ongoing losses erode equity, constrain reinvestment capacity, and require management to either cut costs, raise pricing, or secure external funding—any of which can materially affect long-term strategic plans and execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Scalable revenue growth
Sustained top-line scaling from 2022–2024 with continued positive growth in 2025 indicates durable demand for SAR data and services. Persistent revenue expansion supports longer-term investment in constellation capacity, recurring license sales, and upsell of analytics, improving prospects for eventual margin leverage.
Read all positive factors
Synspective Inc. (290A) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥180.28B
Dividend YieldN/A
Average Volume (3M)1.71M
Price to Earnings (P/E)―
Beta (1Y)-0.73
Revenue GrowthN/A
EPS GrowthN/A
CountryJP
Employees192
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)27.24
Shares Outstanding131,879,460
10 Day Avg. Volume2,401,110
30 Day Avg. Volume1,711,883
Financial Highlights & Ratios
PEG Ratio3.92
Price to Book (P/B)3.39
Price to Sales (P/S)55.26
P/FCF Ratio-13.18
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)26.28
Revenue Forecast (FY)¥8.29B
Synspective Inc. Business Overview & Revenue Model
Company Description
Synspective provides SAR data and remote monitoring services to government agencies. Its satellite data technology utilizes and integrates data from satellite constellations, big data, and machine learning. It provides various satellite services, ...
How the Company Makes Money
Synspective makes money primarily by selling SAR Earth-observation data and related analytics as commercial services. Key revenue streams include: (1) Data sales/licensing: charging customers for access to SAR imagery captured by its satellite con...
Synspective Inc. Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
58
Neutral
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 2.38B | 2.32B | 1.39B | 492.41M |
| Gross Profit | 7.77M | 226.76M | 830.61M | 360.35M |
| EBITDA | -2.53B | -1.97B | -1.68B | -4.20B |
| Net Income | -371.16M | -3.59B | -1.52B | -6.27B |
Balance Sheet | ||||
| Total Assets | 49.37B | 28.20B | 11.31B | 9.89B |
| Cash, Cash Equivalents and Short-Term Investments | 24.54B | 14.24B | 4.47B | 6.60B |
| Total Debt | 9.38B | 7.29B | 3.03B | 501.00M |
| Total Liabilities | 10.58B | 8.32B | 3.44B | 1.80B |
| Stockholders Equity | 38.79B | 19.87B | 7.87B | 8.09B |
Cash Flow | ||||
| Free Cash Flow | -9.96B | -9.16B | -5.96B | -6.68B |
| Operating Cash Flow | 1.66B | -1.80B | -2.34B | -4.18B |
| Investing Cash Flow | -11.63B | -7.46B | -3.64B | -2.50B |
| Financing Cash Flow | 20.27B | 19.03B | 3.84B | 5.93B |
Synspective Inc. Technical Analysis
Positive
1346.00
Price Trends
1275.60
Positive
1186.14
Positive
1100.01
Positive
Market Momentum
18.80
Positive
52.24
Neutral
19.71
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:290A, the sentiment is Positive. The current price of 1346 is below the 20-day moving average (MA) of 1358.80, above the 50-day MA of 1275.60, and above the 200-day MA of 1100.01, indicating a bullish trend. The MACD of 18.80 indicates Positive momentum. The RSI at 52.24 is Neutral, neither overbought nor oversold. The STOCH value of 19.71 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:290A.
Synspective Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥74.65B | 7.46 | ― | 3.28% | 5.28% | 28.90% | |
74 Outperform | ¥29.91B | 35.99 | ― | ― | 29.61% | 93.16% | |
70 Outperform | ¥8.34B | 19.89 | ― | 3.47% | -0.94% | -7.43% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | ¥5.10B | 18.85 | ― | ― | -0.62% | -93.84% | |
57 Neutral | ¥11.83B | 51.57 | ― | ― | 32.46% | 70.03% | |
54 Neutral | ¥180.28B | -353.80 | ― | ― | ― | ― |
* Technology Sector Average
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Synspective Inc. Corporate Events
Japanese Consortium Secures ¥283 Billion Defense Satellite Constellation Contract
Feb 20, 2026
A consortium including Mitsubishi Electric, SKY Perfect JSAT, Mitsui Co., iQPS, Axelspace, Mitsui Bussan Aerospace, and Synspective has formalized its role in Japan’s defense space infrastructure through a contract for the Ministry of Defen...
Synspective Secures ¥105.6 Billion Role in Japan Defense Satellite Constellation
Feb 20, 2026
Synspective Inc. has formalized its participation in Japan’s Ministry of Defense satellite constellation project as a partner to Tri-Sat Constellation Co., a special purpose company backed by Mitsubishi Electric, SKY Perfect JSAT, and Mitsui...
Synspective to Relocate Tokyo Head Office and Restructure Capital Reserves
Feb 20, 2026
Synspective Inc. plans to relocate its registered head office from Koto-ku to Chuo-ku in Tokyo to accommodate rising headcount and support further business expansion, subject to shareholder approval at the March 27, 2026 annual meeting. The move p...
Synspective Issues New Performance-Linked Stock Options With Limited Dilution
Feb 13, 2026
Synspective Inc. has approved the issuance of its 6th and 7th series of share acquisition rights, or stock options, aimed at employees, directors and other staff to secure and retain talent critical to its medium- to long-term growth. The move und...
Synspective to Open Munich Subsidiary to Drive EMEA SAR Growth
Feb 13, 2026
Synspective Inc. is a Japan-based space technology company specializing in synthetic aperture radar, or SAR, satellite imagery and data-driven solutions. The company targets clients in regions such as Europe, the Middle East and Africa that are in...
Synspective Discloses Up to ¥23.8 Billion JAXA Support for SAR Constellation Build-Out
Feb 13, 2026
Synspective Inc. has disclosed that the planned maximum support amount it may receive under the Japan Aerospace Exploration Agency’s Space Strategic Fund Project is 23.79 billion yen through March 2030. The grant supports technology developm...
Synspective Narrows 2025 Net Loss After Recognizing Deferred Tax Assets
Feb 13, 2026
Synspective reported full-year 2025 consolidated results largely in line with its earlier forecast, with total revenue of 6,140 million yen and sales of 2,376 million yen, while operating and ordinary losses remained substantial but broadly within...
Synspective Narrows Losses on Surge in Revenue and Projects Profit in 2026
Feb 13, 2026
Synspective Inc., a Tokyo-listed space-tech and data services company, reported a sharp increase in total revenue to ¥6.14 billion for the fiscal year ended December 31, 2025, driven mainly by higher government subsidies alongside modest grow...
Synspective to Book ¥49 Million Subsidy Income From METI-Backed Global South Project
Feb 10, 2026
Synspective Inc. said it will book approximately ¥49 million in non-operating income in the first quarter of the fiscal year ending December 2026, after Japan’s Ministry of Economy, Trade and Industry selected its SAR satellite-based mi...
Synspective Wins Role in Japan Defense Ministry Satellite Constellation Project
Dec 24, 2025
Synspective Inc. has been selected as one of seven contractors in Japan’s Ministry of Defense satellite constellation project, a Private Finance Initiative led by Mitsubishi Electric, SKY Perfect JSAT and Mitsui Co. to build and operate a m...
Synspective to Book ¥801 Million in METI Innovation Subsidy as Non-Operating Income for Q4 2025
Dec 24, 2025
Synspective Inc. will recognize ¥801 million in subsidy income as non-operating income in the fourth quarter of the fiscal year ending December 31, 2025, after being selected under Japan’s Small and Medium-sized Enterprise Innovation Pr...
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.