PLAID Inc. (4165) AI Stock Analysis

• Market Cap: ¥44.72B
• Dividend Yield: N/A
• Average Volume (3M): 1.36M
• Price to Earnings (P/E): 47.3
• Beta (1Y): 0.59
• Revenue Growth: 25.28%
• EPS Growth: N/A
• Country: JP
• Employees: 449
• Sector: Technology
• Sector Strength: 86
• Industry: Software - Application
• EPS (TTM): 8.57
• Shares Outstanding: 41,029,545
• 10 Day Avg. Volume: 858,380
• 30 Day Avg. Volume: 1,361,956
• PEG Ratio: -0.02
• Price to Book (P/B): 5.06
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -23.24
• 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: ¥790.00
• Price Target Upside: -28.64% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 0

• Rating: 60 Neutral
• Price Target: ¥1,162.00 ▲(4.97%Upside)

PLAID Inc. exhibits strong financial performance with notable revenue growth and improved profitability, contributing positively to its score. However, technical analysis reveals bearish trends and valuation metrics suggest potential overvaluation, both of which weigh down the overall score.

PLAID Inc. Business Overview & Revenue Model

Company Description

PLAID Inc. (4165) is a Japanese technology company that specializes in providing data analytics solutions and customer experience platforms. The company focuses on enhancing customer engagement and business performance through its core product, KARTE, a customer experience management platform. This platform is designed to help businesses understand and improve their customer interactions by leveraging real-time data analytics.

How the Company Makes Money

PLAID Inc. generates revenue primarily through its subscription-based model for its flagship product, KARTE. Businesses subscribe to the platform to utilize its data analytics capabilities, which allow them to track, analyze, and enhance customer interactions across various channels. The company also offers complementary services such as consulting and support to help clients maximize the effectiveness of the platform. Additionally, PLAID may engage in partnerships with other technology and service providers to expand the platform's functionalities and reach, further contributing to its revenue streams.

PLAID Inc. Financial Statement Overview

Summary

PLAID Inc. showcases strong revenue growth and improved profitability, with significant improvements in net income and margins. The balance sheet is robust with a solid equity ratio and reduced leverage, although past cash flow volatility and operational challenges warrant caution.

Income Statement

PLAID Inc. has shown strong revenue growth with a 59% increase from 2020 to 2024 (TTM). The company has improved profitability significantly, moving from negative net income in previous years to a positive net income of ¥628.76 million in 2024 (TTM). The gross profit margin stands at 71.85%, indicating strong cost management. The EBIT and EBITDA margins have improved significantly from negative values in 2020 to positive in 2024 (TTM), reflecting operational efficiency improvements. However, the company experienced a period of negative EBIT and EBITDA, indicating past operational challenges.

Balance Sheet

PLAID Inc. exhibits a healthy balance sheet with an equity ratio of 50.88% in 2024 (TTM), reflecting a solid capital structure. The debt-to-equity ratio has decreased over time from 0.56 in 2020 to 0.32 in 2024 (TTM), indicating reduced leverage and financial risk. Return on Equity (ROE) improved to 17.63% in 2024 (TTM), showcasing effective use of equity to generate profits. Despite these strengths, fluctuations in stockholders' equity and liabilities highlight potential financial volatility.

Cash Flow

PLAID Inc. has demonstrated a significant turnaround in free cash flow, moving from negative to positive free cash flow of ¥842.86 million in 2024. However, the operating cash flow to net income ratio is not calculable due to zero operating cash flow in the latest period, which raises concerns about cash generation from operations. The historical negative operating cash flow indicates past struggles in generating cash from core activities, although recent free cash flow improvements are promising.

Breakdown	TTM	Sep 2024	Sep 2023	Sep 2022	Sep 2021	Sep 2020
Income Statement
Total Revenue	11.65B	10.99B	8.63B	7.30B	5.44B	4.01B
Gross Profit	8.34B	7.87B	6.24B	5.37B	3.99B	2.85B
EBITDA	824.08M	142.95M	-1.88B	-779.95M	-63.41M	-1.17B
Net Income	628.76M	320.73M	-2.11B	-1.01B	-106.65M	-1.21B
Balance Sheet
Total Assets	7.01B	7.30B	6.22B	7.09B	6.98B	3.07B
Cash, Cash Equivalents and Short-Term Investments	4.46B	4.74B	3.83B	4.24B	4.17B	2.09B
Total Debt	1.16B	1.32B	1.38B	1.84B	916.09M	897.76M
Total Liabilities	3.38B	4.10B	3.47B	3.02B	2.03B	1.46B
Stockholders Equity	3.57B	3.15B	2.60B	4.06B	4.86B	1.60B
Cash Flow
Free Cash Flow	0.00	842.86M	-371.80M	-883.55M	391.12M	-1.08B
Operating Cash Flow	0.00	900.48M	-325.09M	-809.23M	410.90M	-1.01B
Investing Cash Flow	0.00	-49.69M	-89.00M	-135.11M	-1.33B	-167.44M
Financing Cash Flow	0.00	66.77M	905.00K	1.01B	3.00B	1.90B

PLAID Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1107.00
• 50DMA: Negative
• 100DMA: Negative
• 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:4165, the sentiment is Negative. The current price of 1107 is below the 20-day moving average (MA) of 1202.95, below the 50-day MA of 1165.36, and above the 200-day MA of 1089.40, indicating a bearish trend. The MACD of -21.21 indicates Positive momentum. The RSI at 34.71 is Neutral, neither overbought nor oversold. The STOCH value of 2.05 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4165.

PLAID Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4333	80 Outperform	¥23.51B	18.90		4.05%	7.87%	4.99%
3983	73 Outperform	¥45.79B	24.31		1.01%	8.10%	0.69%
4375	70 Neutral	¥57.74B	―		―	24.24%	-6.95%
Sector *	63 Neutral	$33.61B	6.06	-11.53%	1.82%	5.53%	-18.79%
4165	60 Neutral	¥44.72B	47.29		―	25.28%	―
4259	55 Neutral	¥34.30B	―		―	17.02%	-314.32%
4192	45 Neutral	¥16.82B	―		―	26.31%	-56.42%

PLAID Inc. Corporate Events

PLAID Inc. Issues New Restricted Shares to Boost Corporate Value

PLAID Inc. announced the issuance of 55,047 new restricted shares to executives and an employee as part of an incentive plan to enhance corporate value and align interests with shareholders. This strategic move is designed to encourage long-term commitment from key personnel, with restrictions on share transfers over several years, potentially impacting the company’s operational stability and market perception positively.

The most recent analyst rating on (JP:4165) stock is a Sell with a Yen790.00 price target. To see the full list of analyst forecasts on PLAID Inc. stock, see the JP:4165 Stock Forecast page.

PLAID Inc. Reports Strong Financial Growth in Q2 FY2025

PLAID Inc. reported significant financial growth for the second quarter of the fiscal year ending September 30, 2025, with a notable increase in net sales and operating income compared to the previous year. The company’s improved financial performance reflects its strategic positioning and operational efficiency, which may have positive implications for stakeholders and enhance its competitive standing in the industry.

The most recent analyst rating on (JP:4165) stock is a Sell with a Yen790.00 price target. To see the full list of analyst forecasts on PLAID Inc. stock, see the JP:4165 Stock Forecast page.

PLAID Inc. Revises Earnings Guidance Upward for FY 2025

PLAID Inc. has revised its full-year consolidated earnings guidance for the fiscal year ending September 30, 2025. The company expects adjusted operating income and operating income to significantly exceed previous forecasts due to steady net sales and improved productivity, which has lowered the SG&A-to-sales ratio.

The most recent analyst rating on (JP:4165) stock is a Sell with a Yen790.00 price target. To see the full list of analyst forecasts on PLAID Inc. stock, see the JP:4165 Stock Forecast page.