PLAID Inc. (4165) AI Stock Analysis

• Market Cap: ¥40.00B
• Dividend Yield: N/A
• Average Volume (3M): 274.26K
• Price to Earnings (P/E): 34.5
• Beta (1Y): 0.54
• Revenue Growth: 22.92%
• EPS Growth: N/A
• Country: JP
• Employees: 449
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 5.81
• Shares Outstanding: 41,154,590
• 10 Day Avg. Volume: 216,430
• 30 Day Avg. Volume: 274,256
• PEG Ratio: -1.00
• Price to Book (P/B): 11.71
• Price to Sales (P/S): 3.35
• P/FCF Ratio: 43.73
• 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: 60 Neutral
• Price Target: ¥1,010.00 ▲(5.76% Upside)

PLAID Inc.'s overall stock score is driven by its strong financial performance, marked by significant revenue growth and improved profitability. However, technical indicators suggest a bearish trend, and the stock's valuation is moderate. The absence of earnings call data and corporate events limits additional insights.

PLAID Inc. Business Overview & Revenue Model

Company Description

PLAID Inc. is a financial technology company that provides a platform for developers to build applications that connect with users' bank accounts and financial institutions. Operating primarily in the fintech sector, PLAID's core products include APIs that enable secure access to banking, payment, and financial data, facilitating services such as personal finance management, payment processing, and fraud detection for businesses and consumers alike.

How the Company Makes Money

PLAID generates revenue through a subscription-based model, charging developers and businesses for access to its APIs. The company offers tiered pricing based on usage, enabling clients to scale their services according to their needs. Key revenue streams include transaction fees for data retrieval and analytics services, as well as partnerships with financial institutions and fintech companies that integrate PLAID’s services into their platforms. Significant partnerships with major financial institutions enhance PLAID's data access capabilities, further driving its earnings by increasing the value of its offerings and attracting more clients.

PLAID Inc. Financial Statement Overview

Summary

PLAID Inc. has shown strong revenue growth and improved profitability, transitioning from losses to positive net income and margins. The balance sheet is robust with decreased leverage, and recent improvements in free cash flow reflect potential for sustainable operations. However, past operational challenges and cash flow volatility present risks.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	12.76B	10.99B	8.63B	7.30B	5.44B	4.01B
Gross Profit	9.31B	7.87B	6.24B	5.37B	3.99B	2.85B
EBITDA	1.29B	142.95M	-1.88B	-779.95M	-63.41M	-1.17B
Net Income	1.14B	320.73M	-2.11B	-930.78M	-106.65M	-1.21B
Balance Sheet
Total Assets	8.52B	7.30B	6.22B	7.09B	6.98B	3.07B
Cash, Cash Equivalents and Short-Term Investments	5.95B	4.74B	3.83B	4.24B	4.17B	2.09B
Total Debt	1.03B	1.32B	1.38B	1.84B	916.09M	897.76M
Total Liabilities	4.03B	4.10B	3.47B	3.02B	2.03B	1.46B
Stockholders Equity	4.44B	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: 955.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 955 is below the 20-day moving average (MA) of 981.60, below the 50-day MA of 1033.92, and below the 200-day MA of 1095.13, indicating a bearish trend. The MACD of -16.60 indicates Negative momentum. The RSI at 43.72 is Neutral, neither overbought nor oversold. The STOCH value of 36.10 is Neutral, 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	¥21.17B	15.83	―	4.05%	3.82%	18.19%
3983	66 Neutral	¥35.08B	19.87	―	1.30%	5.39%	-6.71%
4259	63 Neutral	¥55.18B	―	―	―	10.39%	-322.87%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
4165	60 Neutral	¥40.00B	34.53	―	―	22.92%	―
4375	56 Neutral	¥51.33B	-148.60	―	―	27.79%	84.27%
4192	41 Neutral	¥14.56B	-31.73	―	―	24.80%	12.00%

PLAID Inc. Corporate Events

PLAID, Inc. Secures 4 Billion Yen Loan for Growth and Expansion

PLAID, Inc. has entered into a loan agreement to secure financing aimed at supporting its organic growth, funding mergers and acquisitions, and optimizing capital efficiency. The company secured a total of 4 billion yen from multiple banks, with the loans being unsecured and unguaranteed, and the impact on the company’s business performance for the fiscal year ending September 2026 is expected to be minor.

The most recent analyst rating on (JP:4165) stock is a Hold with a Yen1198.00 price target. To see the full list of analyst forecasts on PLAID Inc. stock, see the JP:4165 Stock Forecast page.

PLAID Inc. Reports Robust Q3 Financial Growth

PLAID Inc. reported significant growth in its financial performance for the third quarter of the fiscal year ending September 30, 2025. The company achieved a 22% increase in net sales and a substantial rise in net income attributable to owners of the parent, reflecting a 1,486% increase year-on-year. This robust performance underscores PLAID Inc.’s strong market positioning and operational efficiency, with implications for continued growth and value creation for stakeholders.

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.