ENIGMO, Inc. (3665) AI Stock Analysis

• Market Cap: ¥20.32B
• Dividend Yield: 2.31%
• Average Volume (3M): 459.21K
• Price to Earnings (P/E): 102.3
• Beta (1Y): 0.79
• Revenue Growth: 9.71%
• EPS Growth: -70.49%
• Country: JP
• Employees: 149
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Software - Infrastructure
• EPS (TTM): 0.05
• Shares Outstanding: 42,642,000
• 10 Day Avg. Volume: 380,790
• 30 Day Avg. Volume: 459,210
• PEG Ratio: -0.61
• Price to Book (P/B): 1.12
• Price to Sales (P/S): 2.17
• P/FCF Ratio: 56.75
• 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
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: ¥504.00 ▲(13.00% Upside)

The score is driven primarily by strong balance-sheet safety but offset by weakened profitability and volatile cash generation. Technicals are supportive with a clear uptrend, though overbought signals raise near-term risk. A very high P/E meaningfully drags the score despite a moderate dividend yield.

Positive Factors

Balance Sheet Strength

A strong balance sheet with minimal leverage provides financial stability and flexibility, allowing the company to invest in growth opportunities without the burden of high debt.

Revenue Growth

The rebound in revenue growth indicates potential recovery and market demand, which can support long-term business expansion and improved financial performance.

Strategic Acquisition

The acquisition of Krystal Enterprise Limousine is expected to bolster Enigmo's travel business, enhancing service quality and driving revenue growth by meeting diverse customer needs.

Negative Factors

Profitability Decline

The decline in profitability suggests challenges in maintaining cost efficiency and pricing power, which could impact long-term earnings potential and investor confidence.

Cash Flow Volatility

Volatile cash flow can hinder the company's ability to fund operations and growth initiatives, posing risks to financial stability and strategic planning.

Net Loss Despite Sales Increase

A net loss despite increased sales indicates inefficiencies or rising costs, which could undermine growth prospects and necessitate operational improvements.

ENIGMO, Inc. Business Overview & Revenue Model

Company Description

Enigmo Inc. engages in planning, developing, and operating internet business in Japan. It operates BUYMA, a marketplace for buying fashion items from personal shoppers; BUYMA TRAVEL, a website that provides private local tours to Japanese travelers living abroad; STYLE HAUS, a platform that offers fashion, lifestyle, and cosmetics recommendations. The company was founded in 2004 and is based in Tokyo, Japan.

How the Company Makes Money

ENIGMO, Inc. primarily generates revenue through its e-commerce platform BUYMA, which operates on a commission-based model. The company earns a percentage of each transaction made on the platform, acting as an intermediary between buyers and sellers. ENIGMO also benefits from listing fees charged to sellers for showcasing their products on BUYMA. Additionally, the company may receive revenue from premium membership services and advertising fees from brands seeking to promote their products to BUYMA's user base. Strategic partnerships with international logistics and payment processing companies also play a role in streamlining operations and enhancing customer satisfaction, indirectly supporting revenue growth.

ENIGMO, Inc. Financial Statement Overview

Summary

ENIGMO, Inc. shows strong margins and a solid capital structure but faces challenges with revenue growth and cash flow generation. While profitability metrics remain positive, declining trends in revenue and cash generation pose potential risks that need addressing.

Income Statement

ENIGMO, Inc. has demonstrated fluctuating revenue growth with a declining trend in the last reported year. The gross profit margin remains robust but has slightly decreased over time. EBIT and EBITDA margins show strong profitability, albeit on a declining trend. While the net profit margin remains healthy, the decrease in net income indicates potential challenges.

Balance Sheet

The company's balance sheet is strong with a very low debt-to-equity ratio, indicating low financial leverage. The equity ratio is high, reflecting a solid capital structure with a significant portion of assets financed by equity. Return on equity has weakened, highlighting a decline in profitability relative to shareholders' equity.

Cash Flow

Operating cash flow has turned negative in the most recent period, which is concerning. The trend in free cash flow growth is inconsistent, with a concerning drop recently. The operating cash flow to net income ratio has deteriorated, suggesting less cash generation from operations relative to reported earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.26B	5.93B	6.20B	6.87B	7.62B	7.08B
Gross Profit	4.61B	4.52B	4.86B	5.45B	6.14B	5.75B
EBITDA	585.82M	731.15M	1.02B	1.16B	3.00B	3.06B
Net Income	253.00M	433.00M	838.37M	712.57M	2.06B	2.10B
Balance Sheet
Total Assets	14.45B	14.44B	13.23B	12.68B	13.68B	12.74B
Cash, Cash Equivalents and Short-Term Investments	8.71B	9.29B	10.73B	10.32B	12.84B	11.81B
Total Debt	207.00M	209.71M	0.00	0.00	0.00	0.00
Total Liabilities	2.89B	3.00B	2.70B	2.54B	2.82B	3.52B
Stockholders Equity	11.54B	11.43B	10.53B	10.15B	10.86B	9.22B
Cash Flow
Free Cash Flow	0.00	226.51M	1.68B	-352.62M	1.47B	4.11B
Operating Cash Flow	0.00	269.89M	1.71B	-322.76M	1.51B	4.13B
Investing Cash Flow	0.00	-1.41B	-1.01B	-785.26M	-56.42M	-222.82M
Financing Cash Flow	0.00	-298.05M	-480.57M	-1.42B	-416.42M	-291.16M

ENIGMO, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 446.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3665, the sentiment is Positive. The current price of 446 is below the 20-day moving average (MA) of 449.20, above the 50-day MA of 422.78, and above the 200-day MA of 342.91, indicating a bullish trend. The MACD of 20.27 indicates Negative momentum. The RSI at 73.69 is Negative, neither overbought nor oversold. The STOCH value of 81.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3665.

ENIGMO, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5582	74 Outperform	¥12.61B	35.66	―	―	18.26%	-36.33%
2428	69 Neutral	¥12.48B	11.94	―	4.33%	0.54%	9.99%
4811	68 Neutral	¥14.74B	18.19	―	1.01%	15.34%	67.96%
3665	66 Neutral	¥20.32B	102.34	―	2.31%	9.71%	-70.49%
3695	65 Neutral	¥9.06B	28.49	―	5.22%	26.41%	-20.60%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
4488	52 Neutral	¥10.87B	-27.94	―	―	7.00%	-244.58%

ENIGMO, Inc. Corporate Events

ENIGMO, Inc. Announces Q3 Financial Performance and Dividend Commitment

ENIGMO, Inc. announced its financial performance for the third quarter of the fiscal year ending January 2026, highlighting a commitment to a 30 yen per share dividend. Despite challenges such as foreign exchange rates and unusual weather affecting demand, the company is focused on structural reforms and AI implementation to strengthen future profitability. The company remains on track to achieve its full-year plan, with a significant portion of its budget weighted towards the fourth quarter, and maintains its commitment to stable dividends during the reform period.

Enigmo Inc. Reports Increased Sales but Faces Financial Challenges

Enigmo Inc. reported its consolidated financial results for the nine months ending October 31, 2025, showing a 10.6% increase in net sales compared to the previous year. Despite the rise in sales, the company experienced a net loss, with operating and ordinary profits turning negative. The company has also revised its dividend forecast, indicating a significant increase in year-end dividends, which may impact shareholder returns positively.

Enigmo Inc. Records Extraordinary Income from Securities Sale

Enigmo Inc. has completed the sale of certain investment securities, resulting in an extraordinary income gain of 514 million yen. This move aligns with the company’s strategy to improve its financial position and asset efficiency, as part of its adherence to the Corporate Governance Code. The gain has already been accounted for in the company’s earnings forecast for the fiscal year ending January 2026.

Enigmo Inc. Expands Travel Business with Acquisition of Krystal Enterprise Limousine

Enigmo Inc. has announced its decision to acquire Krystal Enterprise Limousine, Inc. through its subsidiary, BUYMA TRAVEL Inc., as part of its strategy to bolster its travel business. This acquisition is expected to enhance Enigmo’s transportation services in Hawaii, improve service quality, and drive revenue growth by minimizing lost opportunities and meeting diverse customer needs.