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Fixstars
(3687)
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Rating:73Outperform
Price Target:
¥2,527.00
▲(17.86% Upside)
Action:Reiterated
Date:06/23/26
The score is driven primarily by strong financial performance (profitability, cash generation, and improved leverage) and supportive technical trend (price above major moving averages). These positives are meaningfully offset by a rich valuation (high P/E and low dividend yield).
Positive Factors
Free cash flow strength
Fixstars' substantial free cash flow growth and healthy conversion of earnings to cash provide durable financial flexibility. Over 2-6 months this supports reinvestment in product R&D, hiring specialized engineers, and continued debt reduction, reducing refinancing risk and enabling strategic optionality.
Negative Factors
Growth deceleration risk
A noted slowdown in growth trajectory, if persistent, could limit economies of scale in R&D and reduce leverage of fixed-cost investments in tooling. Over months this can compress future revenue momentum, making it harder to sustain investment in product development and specialized talent acquisition.
Read all positive and negative factors
Positive Factors
Negative Factors
Free cash flow strength
Fixstars' substantial free cash flow growth and healthy conversion of earnings to cash provide durable financial flexibility. Over 2-6 months this supports reinvestment in product R&D, hiring specialized engineers, and continued debt reduction, reducing refinancing risk and enabling strategic optionality.
Read all positive factors
Fixstars (3687) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥67.96B
Dividend Yield0.86%
Average Volume (3M)699.04K
Price to Earnings (P/E)39.2
Beta (1Y)1.48
Revenue Growth15.83%
EPS Growth-10.83%
CountryJP
Employees334
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)53.25
Shares Outstanding33,635,000
10 Day Avg. Volume558,850
30 Day Avg. Volume699,036
Financial Highlights & Ratios
PEG Ratio1.01
Price to Book (P/B)7.17
Price to Sales (P/S)6.15
P/FCF Ratio31.64
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
Fixstars Business Overview & Revenue Model
Company Description
Fixstars Corporation is a global software enterprise conducting business both within Japan and across international markets. Its comprehensive service offerings encompass M3 technical assistance, processor evaluation, bespoke software development ...
How the Company Makes Money
Fixstars primarily makes money by providing (1) contract-based software engineering services and technical consulting, and (2) selling or licensing software products/tools related to performance optimization and acceleration. In its services busin...
Fixstars Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.28B | 9.62B | 8.00B | 7.04B | 6.31B | 5.50B |
| Gross Profit | 5.46B | 5.01B | 4.18B | 3.57B | 3.03B | 2.28B |
| EBITDA | 2.88B | 2.74B | 2.45B | 2.22B | 1.77B | 1.06B |
| Net Income | 1.72B | 1.95B | 1.49B | 1.45B | 1.08B | 543.17M |
Balance Sheet | ||||||
| Total Assets | 10.46B | 9.89B | 8.75B | 8.21B | 8.16B | 7.40B |
| Cash, Cash Equivalents and Short-Term Investments | 5.37B | 5.23B | 5.14B | 4.63B | 5.06B | 4.68B |
| Total Debt | 36.63M | 47.18M | 547.15M | 1.30B | 2.10B | 2.94B |
| Total Liabilities | 1.50B | 1.37B | 1.80B | 2.38B | 3.58B | 3.75B |
| Stockholders Equity | 8.75B | 8.25B | 6.73B | 5.64B | 4.41B | 3.53B |
Cash Flow | ||||||
| Free Cash Flow | 1.08B | 1.87B | 1.77B | 681.90M | 1.45B | 431.04M |
| Operating Cash Flow | 1.13B | 1.98B | 1.94B | 719.45M | 1.49B | 864.57M |
| Investing Cash Flow | -485.47M | -541.47M | -167.22M | -17.99M | 43.80M | -487.55M |
| Financing Cash Flow | -84.94M | -1.13B | -1.24B | -1.13B | -1.29B | -1.31B |
Fixstars Technical Analysis
Positive
2144.00
Price Trends
2408.10
Negative
1897.35
Positive
1772.29
Positive
Market Momentum
-48.59
Negative
52.93
Neutral
71.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3687, the sentiment is Positive. The current price of 2144 is below the 20-day moving average (MA) of 2179.85, below the 50-day MA of 2408.10, and above the 200-day MA of 1772.29, indicating a neutral trend. The MACD of -48.59 indicates Negative momentum. The RSI at 52.93 is Neutral, neither overbought nor oversold. The STOCH value of 71.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3687.
Fixstars Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥67.96B | 39.25 | 20.81% | 0.84% | 15.83% | -10.83% | |
72 Outperform | ¥10.16B | 39.13 | ― | ― | 12.23% | 38.11% | |
63 Neutral | ¥13.30B | 86.25 | ― | ― | 26.18% | -33.28% | |
62 Neutral | ¥73.98B | 42.90 | ― | ― | 22.27% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | ¥68.13B | 20.95 | ― | ― | 1042.00% | ― | |
46 Neutral | ¥18.24B | -96.46 | ― | ― | 131.28% | 76.65% |
* Technology Sector Average
JP:3687
Fixstars
2,264.00
253.53
12.61%
JP:3905
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1,910.00
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ExaWizards Inc.
838.00
387.00
85.81%
JP:4425
Kudan, Inc.
1,684.00
559.00
49.69%
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Ridge-i Inc.
2,550.00
-94.00
-3.56%
JP:5586
Laboro.AI, Inc.
835.00
-350.00
-29.54%
Fixstars Corporate Events
Fixstars Posts Higher Sales but Lower Nine-Month Profit, Keeps Strong Outlook and Raises Dividend Forecast
Aug 7, 2026
Fixstars reported consolidated net sales of ¥7,917 million for the nine months ended June 30, 2026, up 11.9% year on year, with operating profit rising 6.5% to ¥2,222 million, while profit attributable to owners of parent declined 19.2% ...
Fixstars Lifts Full-Year Earnings and Dividend Outlook After Beating Q2 Forecasts
May 14, 2026
Fixstars reported that second-quarter consolidated net sales and profits significantly exceeded earlier forecasts, driven by robust demand for acceleration services in automotive and semiconductor sectors and steady SaaS growth. Despite higher cos...
Fixstars Issues Notice on FY2026 Q2 Results Translation and Disclaimers
May 14, 2026
Fixstars Corporation released an English-language note indicating its FY2026 second-quarter consolidated financial results presentation, emphasizing that the material is a translation of the original Japanese document. The company highlighted that...
Fixstars Lifts Full-Year Outlook Despite Midterm Profit Decline
May 14, 2026
Fixstars reported consolidated net sales of ¥5.44 billion for the six months ended March 31, 2026, up 13.8% year on year, with operating profit rising 8.8% to ¥1.64 billion but profit attributable to owners of parent falling 19.1% to ...
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.