PLAID Inc. (JP:4165)
:4165
Want to see JP:4165 full AI Analyst Report?
Top Page
PLAID Inc.
(4165)
Select Model
Select Model
Rating:64Neutral
Price Target:
¥694.00
▼(-14.43% Downside)
Action:ReiteratedDate:03/24/26
The score is driven primarily by improved fundamentals—profitability and cash-flow quality strengthened materially with strong gross margins. This is tempered by weak technical trend signals (below key moving averages with negative MACD) and a relatively high P/E (~41), which raises valuation risk given recent revenue growth deceleration.
Positive Factors
High gross margins
Sustained gross margins near 71–74% reflect strong unit economics from the KARTE SaaS platform. High gross margins provide durable earnings leverage, supporting operating profitability and reinvestment in product and sales even if top-line growth softens, and underpin long-term cash generation.
Negative Factors
Decelerating revenue growth
Top-line growth has slowed sharply to ~0% in 2024 and ~5% in 2025 after earlier double-digit growth. Persistent revenue stagnation would limit operating leverage upside, force reliance on cost improvement for profits, and constrain long-term scalability of recurring SaaS economics without renewed product or sales momentum.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained gross margins near 71–74% reflect strong unit economics from the KARTE SaaS platform. High gross margins provide durable earnings leverage, supporting operating profitability and reinvestment in product and sales even if top-line growth softens, and underpin long-term cash generation.
Read all positive factors
PLAID Inc. (4165) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥21.95B
Dividend YieldN/A
Average Volume (3M)577.11K
Price to Earnings (P/E)41.3
Beta (1Y)0.31
Revenue Growth19.32%
EPS Growth58.54%
CountryJP
Employees449
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)4.90
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)31.4
Revenue Forecast (FY)¥20.60B
PLAID Inc. Business Overview & Revenue Model
Company Description
PLAID,Inc. develops and operates KARTE, a customer experience SaaS platform in Japan. It also engages in the planning and management of EC-specialized media, Shopping Tribe; and CX-specialized media, XD. The company was incorporated in 2011 and is...
How the Company Makes Money
PLAID Inc. earns revenue primarily through its subscription-based SaaS model for its core product, 'KARTE.' Businesses pay recurring fees to access the platform's features, including real-time user behavior analysis, marketing automation, and pers...
PLAID Inc. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
78
Positive
| Breakdown | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.40B | 10.99B | 8.63B | 7.30B | 5.44B |
| Gross Profit | 9.75B | 7.77B | 6.01B | 5.17B | 3.97B |
| EBITDA | 1.51B | 357.77M | -654.01M | -685.54M | 194.00M |
| Net Income | 1.10B | 320.73M | -2.11B | -930.78M | -106.65M |
Balance Sheet | |||||
| Total Assets | 9.66B | 7.30B | 6.22B | 7.09B | 6.98B |
| Cash, Cash Equivalents and Short-Term Investments | 6.60B | 4.74B | 3.83B | 4.24B | 4.17B |
| Total Debt | 1.82B | 1.32B | 1.38B | 1.84B | 916.09M |
| Total Liabilities | 4.85B | 4.10B | 3.47B | 3.02B | 2.03B |
| Stockholders Equity | 4.79B | 3.15B | 2.60B | 4.06B | 4.86B |
Cash Flow | |||||
| Free Cash Flow | 1.33B | 842.86M | -371.80M | -883.55M | 391.12M |
| Operating Cash Flow | 1.38B | 900.48M | -325.09M | -809.23M | 410.90M |
| Investing Cash Flow | 215.71M | -49.69M | 318.81M | -135.11M | -1.33B |
| Financing Cash Flow | 264.84M | 66.77M | -406.94M | 1.01B | 3.00B |
PLAID Inc. Technical Analysis
Neutral
811.00
Price Trends
594.60
Positive
703.48
Negative
888.86
Negative
Market Momentum
3.83
Negative
59.39
Neutral
91.72
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4165, the sentiment is Neutral. The current price of 811 is above the 20-day moving average (MA) of 594.55, above the 50-day MA of 594.60, and below the 200-day MA of 888.86, indicating a neutral trend. The MACD of 3.83 indicates Negative momentum. The RSI at 59.39 is Neutral, neither overbought nor oversold. The STOCH value of 91.72 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:4165.
PLAID Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥18.61B | 30.80 | ― | 3.14% | 1.82% | 3.55% | |
72 Outperform | ¥30.56B | 36.54 | ― | 0.47% | 31.91% | 33.36% | |
68 Neutral | ¥19.82B | 15.25 | ― | ― | 15.63% | 306.67% | |
64 Neutral | ¥21.95B | 41.34 | ― | ― | 19.32% | 58.54% | |
64 Neutral | ¥33.96B | 20.10 | ― | ― | 29.71% | 434.24% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
48 Neutral | ¥12.39B | 29.78 | ― | 3.48% | 2.04% | ― |
* Technology Sector Average
JP:4165
PLAID Inc.
539.00
-593.00
-52.39%
JP:3835
eBASE Co., Ltd.
408.00
-104.61
-20.41%
JP:4477
BASE, Inc.
292.00
-155.51
-34.75%
JP:5038
eWeLL Co.,Ltd
2,007.00
-210.38
-9.49%
JP:6047
Gunosy, Inc.
522.00
-62.29
-10.66%
JP:9553
MicroAd, Inc.
770.00
439.00
132.63%
PLAID Inc. Corporate Events
Plaid to Absorb Marketing Tech Subsidiary agito in Streamlining Merger
Mar 30, 2026
Plaid, Inc. has approved an absorption-type merger of its wholly owned subsidiary agito, Inc., effective June 1, 2026, in a simplified and short-form transaction that will not require shareholder approval and will involve no new share issuance or ...
PLAID Completes Restricted Stock Compensation Share Issuance to Outside Directors
Feb 16, 2026
PLAID, Inc. has completed payment procedures for a previously approved issuance of new shares as restricted stock compensation to its outside directors. The company issued 11,072 shares of common stock at 867 yen per share, for a total paid-in amo...
PLAID Issues Earnings Results and Cautions on Forward-Looking Data
Feb 12, 2026
PLAID, Inc. has released its earnings results document for the quarter ending December 2026, corresponding to the first quarter of its fiscal year ending December 2026. The announcement emphasizes that the materials include forward-looking stateme...
PLAID Inc. Grows Q1 Sales but Sees Profit Decline as Investments Pressure Margins
Feb 12, 2026
PLAID Inc. reported consolidated net sales of ¥3.7 billion for the first quarter of the fiscal year ending December 31, 2026, up 15.9% year on year, underscoring continued topline expansion in its data-driven service business. However, profit...
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.