Choei Inc. (2993) AI Stock Analysis

• Market Cap: ¥8.99B
• Dividend Yield: 4.29%
• Average Volume (3M): 1.33K
• Price to Earnings (P/E): 4.5
• Beta (1Y): 0.29
• Revenue Growth: 7.57%
• EPS Growth: 66.62%
• Country: JP
• Employees: 250
• Sector: Real Estate
• Sector Strength: 49
• Industry: Real Estate - Services
• EPS (TTM): 63.15
• Shares Outstanding: 4,473,400
• 10 Day Avg. Volume: 2,040
• 30 Day Avg. Volume: 1,326
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ¥2,269.00
• Price Target Upside: 8.15% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 74 Outperform
• Price Target: ¥2,279.00 ▲(8.63% Upside)

Choei Inc. receives a strong overall score driven by its attractive valuation and positive technical indicators. While financial performance shows robust revenue growth, high leverage and cash flow issues present risks. The absence of earnings call and corporate events data limits further insights.

Choei Inc. Business Overview & Revenue Model

Company Description

Choei Inc. (2993) is a Japanese-based company primarily involved in the construction and real estate sectors. It specializes in building, civil engineering, and development projects. The company offers a range of services including construction of residential and commercial buildings, infrastructure development, and real estate management. Choei Inc. is known for its commitment to quality and innovation in the construction industry.

How the Company Makes Money

Choei Inc. makes money through a diversified revenue model primarily centered around construction and real estate services. The company generates revenue by undertaking construction projects, which include residential, commercial, and infrastructure developments. Key revenue streams include contract payments from construction projects, property sales from developed real estate, and rental income from managed properties. Additionally, Choei Inc. may engage in strategic partnerships and joint ventures to expand its project portfolio and enhance its market presence. The company's earnings are significantly influenced by the demand for construction and real estate developments in the regions it operates.

Choei Inc. Financial Statement Overview

Summary

Choei Inc. shows strong revenue growth and operational efficiency, but high leverage and strained cash flow due to capital expenditures present risks.

Income Statement

Choei Inc. has demonstrated robust revenue growth with a steady increase from ¥8.48 billion in 2022 to ¥10.02 billion in 2025, reflecting a healthy expansion trajectory. The gross profit margin has remained solid, supporting profitability. However, the net profit margin shows some volatility, indicating potential areas for cost management improvements. Strong EBIT and EBITDA margins showcase operational efficiency.

Balance Sheet

The company's balance sheet reflects a high debt-to-equity ratio, which implies significant leverage; however, the equity has grown from ¥5.62 billion in 2020 to ¥11.93 billion in 2025, indicating strengthening financial health. The equity ratio is improving, reflecting better capitalization, but high leverage remains a potential risk factor.

Cash Flow

Choei Inc. has experienced fluctuating free cash flow, with negative figures in recent years indicating a reliance on external financing. The operating cash flow to net income ratio is stable, suggesting adequate cash generation from operations, but the negative free cash flow to net income ratio reflects high capital expenditures that may impact liquidity.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	10.02B	9.37B	9.16B	8.48B	8.03B
Gross Profit	3.35B	3.51B	3.54B	3.13B	2.86B
EBITDA	3.38B	3.81B	3.64B	3.24B	3.19B
Net Income	2.07B	1.26B	1.37B	1.56B	982.30M
Balance Sheet
Total Assets	66.69B	60.65B	56.85B	53.57B	52.24B
Cash, Cash Equivalents and Short-Term Investments	11.86B	10.10B	7.44B	8.42B	6.95B
Total Debt	48.90B	44.24B	42.22B	38.86B	42.70B
Total Liabilities	54.75B	50.39B	47.37B	44.79B	45.97B
Stockholders Equity	11.93B	10.26B	9.48B	8.78B	6.27B
Cash Flow
Free Cash Flow	-5.08B	-1.91B	-3.65B	2.09B	-969.36M
Operating Cash Flow	1.88B	3.22B	2.02B	3.70B	2.21B
Investing Cash Flow	-4.24B	-2.02B	-5.66B	656.52M	-3.13B
Financing Cash Flow	4.11B	1.46B	2.66B	-2.90B	1.07B

Choei Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2098.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2993, the sentiment is Positive. The current price of 2098 is above the 20-day moving average (MA) of 2063.90, above the 50-day MA of 2035.80, and above the 200-day MA of 1990.85, indicating a bullish trend. The MACD of 16.85 indicates Negative momentum. The RSI at 69.20 is Neutral, neither overbought nor oversold. The STOCH value of 41.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2993.

Choei Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3277	76 Outperform	¥11.05B	5.77		3.17%	11.78%	131.36%
4262	76 Outperform	¥8.98B	12.59		2.27%	37.83%	26.79%
2993	74 Outperform	¥8.99B	4.51		4.29%	7.57%	66.62%
3294	72 Outperform	¥10.61B	9.32		4.92%	23.20%	3.21%
8894	70 Outperform	¥8.87B	27.06		―	341.55%	-0.36%
Sector *	63 Neutral	$7.06B	13.64	-0.57%	7.01%	3.62%	-22.63%
2978	57 Neutral	¥7.00B	114.71		―	42.72%	-110.19%