FINDEX Inc. (JP:3649)
:3649
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FINDEX Inc.
(3649)
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Rating:69Neutral
Price Target:
¥832.00
▲(0.97% Upside)
Action:Downgraded
Date:03/24/26
The score is driven primarily by strong financial performance (high profitability, near debt-free balance sheet, and solid free-cash-flow quality). This is partially offset by weak technical momentum (price below key moving averages and negative MACD). Valuation is supportive with a moderate P/E and a ~2.66% dividend yield.
Positive Factors
High and improving profitability
Margins have meaningfully expanded (net margin from ~11% in 2020 to ~21% in 2025), indicating durable operating leverage and pricing or cost advantages. Sustained high margins support reinvestment, resilience to demand swings, and long-term free-cash generation in healthcare IT services.
Negative Factors
Inconsistent revenue growth
Revenue has been irregular, with declines in some years and a flat 2024, which complicates forecasting and long-term planning. Inconsistent top-line traction can limit scale benefits and suggests demand or customer concentration risks that may cap sustainable growth.
Read all positive and negative factors
Positive Factors
Negative Factors
High and improving profitability
Margins have meaningfully expanded (net margin from ~11% in 2020 to ~21% in 2025), indicating durable operating leverage and pricing or cost advantages. Sustained high margins support reinvestment, resilience to demand swings, and long-term free-cash generation in healthcare IT services.
Read all positive factors
FINDEX Inc. (3649) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥19.82B
Dividend Yield1.75%
Average Volume (3M)66.40K
Price to Earnings (P/E)9.0
Beta (1Y)0.57
Revenue Growth8.47%
EPS Growth18.03%
CountryJP
Employees311
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)N/A
Shares Outstanding26,608,800
10 Day Avg. Volume40,110
30 Day Avg. Volume66,396
Financial Highlights & Ratios
PEG Ratio1.72
Price to Book (P/B)4.19
Price to Sales (P/S)3.73
P/FCF Ratio14.11
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
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 reco...
How the Company Makes Money
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FINDEX Inc. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
79
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.76B | 6.11B | 5.84B | 5.19B | 4.54B | 4.97B |
| Gross Profit | 3.67B | 3.98B | 3.55B | 3.33B | 2.72B | 2.56B |
| EBITDA | 1.84B | 2.10B | 1.82B | 1.75B | 1.28B | 1.23B |
| Net Income | 1.15B | 1.26B | 1.16B | 1.06B | 722.78M | 636.03M |
Balance Sheet | ||||||
| Total Assets | 6.88B | 6.81B | 6.69B | 5.94B | 4.98B | 4.56B |
| Cash, Cash Equivalents and Short-Term Investments | 2.38B | 1.68B | 1.73B | 2.69B | 2.41B | 2.17B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 20.00M |
| Total Liabilities | 1.16B | 1.34B | 1.08B | 1.09B | 939.06M | 1.04B |
| Stockholders Equity | 5.71B | 5.44B | 5.60B | 4.84B | 4.04B | 3.51B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.62B | 1.87B | 559.87M | 621.08M | 681.02M |
| Operating Cash Flow | 0.00 | 1.65B | 1.90B | 842.84M | 693.85M | 750.35M |
| Investing Cash Flow | 0.00 | -297.86M | -2.43B | -296.94M | -230.16M | -490.37M |
| Financing Cash Flow | 0.00 | -1.41B | -412.54M | -270.49M | -142.02M | -186.34M |
FINDEX Inc. Technical Analysis
Negative
824.00
Price Trends
865.36
Negative
886.30
Negative
843.03
Negative
Market Momentum
-13.23
Negative
43.86
Neutral
34.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3649, the sentiment is Negative. The current price of 824 is below the 20-day moving average (MA) of 837.55, below the 50-day MA of 865.36, and below the 200-day MA of 843.03, indicating a bearish trend. The MACD of -13.23 indicates Negative momentum. The RSI at 43.86 is Neutral, neither overbought nor oversold. The STOCH value of 34.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3649.
FINDEX Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥24.42B | 16.60 | ― | 1.39% | 14.40% | 28.84% | |
69 Neutral | ¥19.82B | 8.98 | ― | 1.75% | 8.47% | 18.03% | |
68 Neutral | ¥920.15B | 36.11 | 12.15% | 1.01% | 23.33% | 21.65% | |
60 Neutral | ¥175.90B | 31.32 | ― | 0.43% | 20.95% | 13.39% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | ¥71.00B | -232.45 | 5.76% | ― | 23.30% | -56.05% |
* Healthcare Sector Average
JP:3649
FINDEX Inc.
774.00
46.27
6.36%
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1,355.00
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-29.60%
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-32.22%
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FINDEX Inc. Corporate Events
FINDEX Issues Cautionary Notice on Q1 FY2026 Results Materials
May 14, 2026
FINDEX Inc. released supplementary information for its first-quarter fiscal 2026 business results, emphasizing that the materials are strictly for informational purposes and not a solicitation for any investment action. The company underscores tha...
FINDEX Posts Modest Q1 Growth, Lifts Dividend on Strong Balance Sheet
May 14, 2026
FINDEX Inc. posted a modest 2.0% year-on-year increase in first-quarter net sales to ¥1,989 million for the period ended March 31, 2026, while operating profit, ordinary profit and profit attributable to owners of parent all dipped slightly b...
FINDEX Completes Restricted Stock Treasury Disposal for Executive Compensation
Apr 13, 2026
FINDEX Inc. has completed payment procedures for the disposal of 13,787 shares of its treasury stock as restricted stock compensation, priced at JPY 870 per share for a total of JPY 11,994,690. The shares were allotted to five internal directors a...
FINDEX to Grant Restricted Treasury Shares to Directors and Officers
Mar 26, 2026
FINDEX Inc. has approved the disposal of 13,787 treasury shares as restricted stock compensation for five directors and two executive officers, with a total value of about JPY 12 million at JPY 870 per share. The move forms part of a previously in...
FINDEX Corrects Minor Error in FY2025 Consolidated Financial Results
Mar 10, 2026
FINDEX Inc. has issued a correction to its consolidated financial results for the fiscal year ended December 31, 2025, after discovering an error in the qualitative information section of its earlier disclosure. The revision relates specifically t...
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.