Hatena Co., Ltd. (3930) AI Stock Analysis

• Market Cap: ¥3.17B
• Dividend Yield: N/A
• Average Volume (3M): 9.80K
• Price to Earnings (P/E): 11.3
• Beta (1Y): 0.30
• Revenue Growth: 7.20%
• EPS Growth: 47.54%
• Country: JP
• Employees: 207
• Sector: Communication Services
• Sector Strength: 97
• Industry: Internet Content & Information
• EPS (TTM): 20.13
• Shares Outstanding: 3,075,200
• 10 Day Avg. Volume: 13,990
• 30 Day Avg. Volume: 9,800
• PEG Ratio: 0.07
• Price to Book (P/B): 1.51
• Price to Sales (P/S): 1.12
• P/FCF Ratio: 6.16
• 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: 58 Neutral
• Price Target: ¥1,107.00 ▲(13.19% Upside)
• Action: Reiterated Date: 03/14/26
• Date: Action: Reiterated 03/14/26

The score is held up by balance-sheet strength and strong gross profitability, but is weighed down by recent revenue/margin softness, inconsistent historical cash-flow performance, negative MACD and long-term trend below the 200-day average, and an expensive valuation (very high P/E with no dividend support).

Positive Factors

High gross margins

Sustained ~85–86% gross margins indicate a high-mix software/online content model with low incremental costs, giving structural unit economics. Over 2–6 months this supports margin resilience, pricing flexibility, and the ability to fund product development or B2B service expansion without large COGS pressure.

Negative Factors

Revenue decline

A shrinking top line is a structural concern: persistent revenue declines reduce scale benefits and pressure operating leverage. If not reversed, this undermines long-term return on invested capital and constrains reinvestment into product and sales, risking market share erosion.

Hatena Co., Ltd. Business Overview & Revenue Model

Company Description

Hatena Co., Ltd. engages in the internet-related business in Japan. The company offers content platform services, such as Hatena Blog, Hatena Bookmark, Human search Hatena, and Hate Lab; content marketing services, which include Hatena MediaSuite,...

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Hatena Co., Ltd. engages in the internet-related business in Japan. The company offers content platform services, such as Hatena Blog, Hatena Bookmark, Human search Hatena, and Hate Lab; content marketing services, which include Hatena MediaSuite,...

How the Company Makes Money

Hatena generates revenue primarily from (1) paid subscriptions and advertising tied to its consumer web services (e.g., users paying for premium features on blogging/content platforms and ad placements served alongside user-generated content), and...

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Hatena generates revenue primarily from (1) paid subscriptions and advertising tied to its consumer web services (e.g., users paying for premium features on blogging/content platforms and ad placements served alongside user-generated content), and...

Hatena Co., Ltd. Financial Statement Overview

Breakdown	TTM	Jul 2025	Jul 2024	Jul 2023	Jul 2022	Jul 2021
Income Statement
Total Revenue	3.63B	3.79B	3.31B	3.15B	3.06B	2.62B
Gross Profit	3.12B	3.24B	2.70B	2.59B	2.60B	2.30B
EBITDA	315.91M	473.26M	180.87M	269.64M	445.66M	361.94M
Net Income	139.02M	230.88M	62.37M	99.64M	240.22M	172.64M
Balance Sheet
Total Assets	3.54B	3.46B	2.92B	2.89B	2.99B	2.61B
Cash, Cash Equivalents and Short-Term Investments	1.81B	2.15B	1.52B	1.51B	1.73B	1.52B
Total Debt	250.00M	0.00	0.00	0.00	0.00	0.00
Total Liabilities	644.89M	643.02M	361.59M	403.83M	546.85M	318.21M
Stockholders Equity	2.90B	2.82B	2.56B	2.49B	2.44B	2.29B
Cash Flow
Free Cash Flow	305.93M	688.20M	128.25M	-30.48M	269.96M	284.68M
Operating Cash Flow	319.49M	711.58M	147.01M	2.58M	327.36M	296.44M
Investing Cash Flow	-60.57M	-38.43M	-106.16M	-158.28M	-43.92M	-105.85M
Financing Cash Flow	1.61M	2.01M	1.55M	-97.14M	-52.20M	6.92M

Hatena Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 978.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3930, the sentiment is Positive. The current price of 978 is below the 20-day moving average (MA) of 1035.40, above the 50-day MA of 970.56, and below the 200-day MA of 1090.53, indicating a neutral trend. The MACD of 28.51 indicates Positive momentum. The RSI at 58.14 is Neutral, neither overbought nor oversold. The STOCH value of 12.65 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3930.

Hatena Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6180	74 Outperform	¥7.36B	46.34	―	3.29%	7.47%	55.61%
3922	71 Outperform	¥28.86B	12.43	―	0.38%	18.02%	46.43%
2193	63 Neutral	¥9.69B	15.07	4.78%	―	-10.17%	-19.44%
5243	63 Neutral	¥49.37B	58.36	―	―	22.37%	655.34%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
3930	58 Neutral	¥3.17B	11.33	―	―	7.20%	47.54%
2454	52 Neutral	¥5.04B	-13.71	―	0.77%	4.75%	―