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PLAID Inc.
(4165)
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Rating:67Neutral
Price Target:
¥654.00
▼(-19.36% Downside)
Action:Reiterated
Date:07/15/26
The score is primarily driven by the strong financial turnaround—improving profitability, consistently high gross margins, and solid free cash flow quality. This is tempered by slower revenue growth and only mixed technicals (below the 200-day average), while valuation (P/E ~32) looks relatively rich without dividend support.
Positive Factors
High gross margins & profitability
Sustained gross margins near the low-70s provide structural pricing power and large buffer for operating leverage. The swing to positive net margins (~8%) after prior losses indicates durable cost discipline and product economics that can support earnings through modest revenue cycles.
Negative Factors
Decelerating revenue growth
Top-line stagnation materially raises long-term execution risk: with growth near zero then only modestly recovering, the company must rely on margin expansion or cost cuts to drive earnings. That limits scalability, makes market-share gains harder, and increases sensitivity to demand shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins & profitability
Sustained gross margins near the low-70s provide structural pricing power and large buffer for operating leverage. The swing to positive net margins (~8%) after prior losses indicates durable cost discipline and product economics that can support earnings through modest revenue cycles.
Read all positive factors
PLAID Inc. (4165) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥22.86B
Dividend YieldN/A
Average Volume (3M)577.11K
Price to Earnings (P/E)32.1
Beta (1Y)0.37
Revenue Growth19.07%
EPS Growth-16.09%
CountryJP
Employees531
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Application
Share Statistics
EPS (TTM)18.77
Shares Outstanding41,260,662
10 Day Avg. Volume1,239,440
30 Day Avg. Volume577,113
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)8.64
Price to Sales (P/S)3.09
P/FCF Ratio31.08
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)31.55
Revenue Forecast (FY)¥20.50B
PLAID Inc. Business Overview & Revenue Model
Company Description
PLAID, Inc. is a Japanese company that creates and manages KARTE, a software-as-a-service (SaaS) platform designed to enhance customer experiences. Furthermore, it oversees the development and operation of two distinct digital publications: Shoppi...
How the Company Makes Money
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PLAID Inc. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.62B | 13.40B | 10.99B | 8.63B | 7.30B | 5.44B |
| Gross Profit | 10.68B | 9.75B | 7.77B | 6.01B | 5.17B | 3.97B |
| EBITDA | 1.28B | 1.51B | 357.77M | -654.01M | -685.54M | 194.00M |
| Net Income | 768.67M | 1.10B | 320.73M | -2.11B | -930.78M | -106.65M |
Balance Sheet | ||||||
| Total Assets | 12.36B | 9.66B | 7.30B | 6.22B | 7.09B | 6.98B |
| Cash, Cash Equivalents and Short-Term Investments | 8.01B | 6.60B | 4.74B | 3.83B | 4.24B | 4.17B |
| Total Debt | 4.57B | 1.82B | 1.32B | 1.38B | 1.84B | 916.09M |
| Total Liabilities | 7.16B | 4.85B | 4.10B | 3.47B | 3.02B | 2.03B |
| Stockholders Equity | 5.20B | 4.79B | 3.15B | 2.60B | 4.06B | 4.86B |
Cash Flow | ||||||
| Free Cash Flow | 1.33B | 1.33B | 842.86M | -371.80M | -883.55M | 391.12M |
| Operating Cash Flow | 1.38B | 1.38B | 900.48M | -325.09M | -809.23M | 410.90M |
| Investing Cash Flow | 215.71M | 215.71M | -49.69M | 318.81M | -135.11M | -1.33B |
| Financing Cash Flow | 264.84M | 264.84M | 66.77M | -406.94M | 1.01B | 3.00B |
PLAID Inc. Technical Analysis
Positive
811.00
Price Trends
530.72
Positive
553.97
Positive
714.90
Negative
Market Momentum
11.98
Negative
65.21
Neutral
87.85
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4165, the sentiment is Positive. The current price of 811 is above the 20-day moving average (MA) of 500.35, above the 50-day MA of 530.72, and above the 200-day MA of 714.90, indicating a neutral trend. The MACD of 11.98 indicates Negative momentum. The RSI at 65.21 is Neutral, neither overbought nor oversold. The STOCH value of 87.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4165.
PLAID Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ¥32.59B | 28.30 | ― | 0.47% | 30.58% | 23.45% | |
71 Outperform | ¥19.81B | 18.54 | ― | 3.14% | -3.85% | -16.72% | |
67 Neutral | ¥22.86B | 32.13 | ― | ― | 19.07% | -16.09% | |
64 Neutral | ¥34.91B | 17.14 | ― | ― | 32.07% | 349.54% | |
59 Neutral | ¥16.39B | 22.77 | ― | ― | 15.58% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | ¥11.24B | 143.90 | ― | 3.48% | 2.04% | ― |
* General Sector Average
JP:4165
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PLAID Inc. Corporate Events
PLAID Corrects Growth Rate Errors in Second-Quarter Financial Results
May 15, 2026
PLAID, Inc. announced that it has identified errors in its previously released consolidated financial results for the second quarter of the fiscal year ending December 31, 2026. The mistakes related to the calculation of year-on-year growth rates ...
PLAID Highlights Risks and Uncertainties Around FY2026 Q2 Outlook
May 14, 2026
PLAID, Inc. released a document associated with its earnings results for the quarter ended December 2026, but the text provided consists almost entirely of cautionary language on forward-looking statements rather than concrete financial or operati...
PLAID’s Profit Slides on Higher Investment Despite Double-Digit Revenue Growth
May 14, 2026
PLAID Inc. reported consolidated net sales of ¥7,766 million for the six months to March 31, 2026, up 18.6% year on year, but saw adjusted operating income fall 24.3% to ¥746 million and net income attributable to owners drop 51.5% 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.