FINDEX Inc. (3649) AI Stock Analysis

• Market Cap: ¥19.03B
• Dividend Yield: 2.15%
• Average Volume (3M): 64.83K
• Price to Earnings (P/E): 17.4
• Beta (1Y): 0.66
• Revenue Growth: 12.51%
• EPS Growth: 9.68%
• Country: JP
• Employees: 311
• Sector: Healthcare
• Sector Strength: 48
• Industry: Medical - Healthcare Information Services
• EPS (TTM): 22.53
• Shares Outstanding: 26,608,800
• 10 Day Avg. Volume: 70,880
• 30 Day Avg. Volume: 64,826
• PEG Ratio: 1.29
• Price to Book (P/B): 3.13
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 33.26
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 79 Outperform
• Price Target: ―

FINDEX Inc. demonstrates strong financial performance with robust revenue and profit growth, a debt-free balance sheet, and excellent cash flow generation. Technical analysis presents a mixed picture, with moderate market momentum and some indicators suggesting potential overbought conditions. The valuation appears fair with a reasonable P/E ratio and an attractive dividend yield. These factors collectively suggest a solid investment, though investors should monitor technical trends closely.

FINDEX Inc. Business Overview & Revenue Model

Company Description

FINDEX Inc. (3649) is a leading Japanese company specializing in the development and provision of medical information systems. The company focuses on creating software solutions that enhance healthcare operations, including electronic medical records (EMR), medical imaging systems, and other healthcare IT infrastructure. FINDEX Inc. aims to improve efficiency and accuracy within medical facilities by integrating advanced technology with healthcare services.

How the Company Makes Money

FINDEX Inc. generates revenue primarily through the sale and licensing of its proprietary medical software solutions to healthcare providers. The company offers a range of products, including electronic medical records systems, picture archiving and communication systems (PACS), and other healthcare IT solutions. Revenue is derived from upfront software licensing fees and ongoing maintenance and support contracts. Additionally, the company may engage in partnerships or collaborations with healthcare institutions and technology firms to expand its market reach and enhance its product offerings. These strategic alliances can also provide additional revenue streams through joint development projects or co-marketing efforts.

FINDEX Inc. Financial Statement Overview

Summary

FINDEX Inc. shows a commendable financial performance across income, balance sheet, and cash flow metrics. The company demonstrates strong revenue and profit growth, efficient operations, and a stable capital structure with zero debt. Its robust cash flow generation further reinforces its financial health and flexibility.

Income Statement

FINDEX Inc. demonstrates strong revenue growth with Total Revenue increasing from 5,191 million JPY in 2023 to 5,841 million JPY in 2024, marking a 12.5% growth rate. Gross Profit Margin is robust at 60.8%. The Net Profit Margin is impressive at 19.9%, reflecting effective cost management. EBIT and EBITDA margins are healthy at 26.1% and 26.8%, respectively, indicating efficient operations.

Balance Sheet

The company maintains a solid financial position with a Debt-to-Equity Ratio of 0, indicating no debt burden. Return on Equity is high at 20.7%, showcasing strong profitability relative to shareholder equity. The Equity Ratio stands at 83.8%, suggesting a stable capital structure with significant reliance on equity financing.

Cash Flow

FINDEX Inc. exhibits strong cash flow performance with Operating Cash Flow significantly increasing to 1,899 million JPY in 2024. Free Cash Flow to Net Income Ratio is exceptionally high at 1.61, indicating robust cash generation relative to net earnings. Free Cash Flow growth is notable, enhancing financial flexibility.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
5.84B	5.19B	4.54B	4.97B	4.00B
	Gross Profit
3.55B	3.33B	2.72B	2.56B	2.12B
	EBIT
1.53B	1.50B	1.03B	920.72M	636.28M
	EBITDA
1.57B	1.78B	1.32B	1.25B	1.03B
	Net Income Common Stockholders
1.16B	1.06B	722.78M	636.03M	430.46M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
1.73B	2.69B	2.41B	2.17B	2.10B
	Total Assets
6.68B	5.93B	4.98B	4.56B	3.80B
	Total Debt
0.00	0.00	0.00	20.00M	0.00
	Net Debt
-1.61B	-2.56B	-2.41B	-2.15B	-2.10B
	Total Liabilities
1.08B	1.09B	937.84M	1.04B	723.63M
	Stockholders Equity
5.60B	4.84B	4.04B	3.51B	3.07B
Cash Flow		Free Cash Flow
1.87B	559.87M	380.45M	481.05M	281.16M
	Operating Cash Flow
1.90B	842.84M	693.85M	750.35M	542.55M
	Investing Cash Flow
-2.43B	-296.94M	-230.16M	-493.37M	-146.27M
	Financing Cash Flow
-412.54M	-270.49M	-142.02M	-183.34M	-201.96M

FINDEX Inc. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 743.00
• 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:3649, the sentiment is Neutral. The current price of 743 is above the 20-day moving average (MA) of 740.70, above the 50-day MA of 717.86, and below the 200-day MA of 796.18, indicating a neutral trend. The MACD of 9.89 indicates Negative momentum. The RSI at 52.91 is Neutral, neither overbought nor oversold. The STOCH value of 53.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:3649.

FINDEX Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3649	79 Outperform	¥19.03B	17.37		2.15%	12.51%	9.68%
3626	74 Outperform	¥1.13T	22.71		1.48%	4.13%	5.65%
9719	74 Outperform	¥1.37T	30.49		1.68%	24.10%	11.27%
4684	69 Neutral	$2.65T	37.04	15.31%	1.38%	8.65%	12.22%
4816	67 Neutral	¥681.01B	28.22		0.95%	5.28%	11.13%
Sector *	53 Neutral	$5.24B	3.32	-44.36%	6.63%	16.78%	-0.12%
3994	53 Neutral	¥265.49B	―	-17.75%	―	28.35%	-2.49%

FINDEX Inc. Corporate Events

FINDEX Inc. Completes Treasury Stock Disposal for Compensation

FINDEX Inc. has completed the payment procedures for the disposal of its treasury stock as restricted stock compensation. This move involves 16,711 common shares at a disposal price of JPY 718 per share, totaling JPY 11,998,498. The shares have been allotted to four directors and three executive officers, excluding those on the Audit & Supervisory Committee and outside directors.

FINDEX Inc. Restructures for Enhanced Cloud Infrastructure and Efficiency

FINDEX Inc. announced changes in its organizational structure and officer appointments, effective April 1, 2025, following approval at their 40th General Meeting of Shareholders. The company has established a Cloud Infrastructure Section to address the growing importance of digitalization and cloud technology in managing medical data and enhancing system efficiency. This move is expected to strengthen FINDEX’s ability to provide flexible and efficient solutions across its business domains, impacting its operational quality and market positioning.

FINDEX Inc. Strengthens Corporate Governance and Diversity Initiatives

FINDEX Inc. has announced a comprehensive corporate governance strategy aimed at strengthening its board functions, enhancing internal controls, and promoting diversity. The company is committed to increasing the representation of women in management and has achieved certifications for health and productivity management, reflecting its dedication to a diverse and inclusive work environment.

FINDEX Inc. Announces Disposal of Treasury Stock for Compensation Plan

FINDEX Inc. announced the disposal of 16,711 treasury shares as part of a Restricted Stock Compensation Plan to incentivize directors and executive officers. This move is designed to improve corporate value and align the interests of management with shareholders, reflecting the company’s commitment to sustainable growth and strategic alignment.

FINDEX Inc. Announces Share Repurchase Plan

FINDEX Inc. announced a resolution to repurchase its own shares to strengthen shareholder returns and improve capital efficiency. The repurchase will involve up to 1,333,300 common shares, with a maximum expenditure of JPY1,000,000,000, and will be conducted through the Tokyo Stock Exchange between March 14, 2025, and December 7, 2025.

FINDEX Inc. Reports Growth in 2024 with Cautious Outlook for 2025

FINDEX Inc. reported a growth in net sales and profit for the fiscal year ended December 31, 2024, driven by a 12.5% increase in net sales and a 9.7% rise in profit attributable to owners of the parent. Despite these gains, the company anticipates a modest growth in net sales of 3.1% for the upcoming fiscal year, with expected declines in operating and recurring profits. This reflects a cautious outlook amid potential challenges in maintaining profit margins.