Enechange Ltd. (JP:4169)
:4169
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Enechange Ltd.
(4169)
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Rating:49Neutral
Price Target:
¥178.00
▼(-39.25% Downside)
Action:Reiterated
Date:05/21/26
The score is mainly held back by weak technicals (below major moving averages with bearish momentum) and ongoing operating losses despite improving trends. Financials are improving with strong growth, high gross margins, and a return to positive free cash flow in 2025, while valuation appears moderate based on a ~16 P/E.
Positive Factors
Revenue Growth & Scalable Margins
Sustained top-line expansion coupled with very high gross margins indicates a scalable, software-like business model and growing product-market fit. High gross margins create room for operating leverage as revenue scales, supporting durable margin improvement if sales growth persists.
Negative Factors
Persistent Operating Losses
Continued negative operating profitability signals the core business has not yet delivered sustainable earnings power. Even with revenue growth and FCF improvement, ongoing losses limit return generation and create dependency on either continued cash conversion or structural margin improvement to reach lasting profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Scalable Margins
Sustained top-line expansion coupled with very high gross margins indicates a scalable, software-like business model and growing product-market fit. High gross margins create room for operating leverage as revenue scales, supporting durable margin improvement if sales growth persists.
Read all positive factors
Enechange Ltd. (4169) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥7.93B
Dividend YieldN/A
Average Volume (3M)213.66K
Price to Earnings (P/E)58.4
Beta (1Y)0.60
Revenue Growth24.66%
EPS GrowthN/A
CountryJP
Employees285
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)5.34
Shares Outstanding42,874,607
10 Day Avg. Volume157,990
30 Day Avg. Volume213,656
Financial Highlights & Ratios
PEG Ratio-0.85
Price to Book (P/B)2.71
Price to Sales (P/S)1.84
P/FCF Ratio19.96
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)28.8
Revenue Forecast (FY)¥14.30B
Enechange Ltd. Business Overview & Revenue Model
Company Description
ENECHANGE Ltd., established in 2015 and based in Tokyo, Japan, operates at the forefront of the energy sector, offering both energy platform and energy data solutions. Its Energy Platform Business provides extensive services enabling residential a...
How the Company Makes Money
null...
Enechange Ltd. Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
57
Neutral
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.55B | 6.70B | 5.37B | 4.38B | 3.73B | 3.02B |
| Gross Profit | 4.40B | 5.88B | 4.10B | 3.24B | 2.94B | 2.58B |
| EBITDA | -1.89B | 634.08M | -2.76B | -1.97B | -1.00B | 107.78M |
| Net Income | 225.13M | 130.92M | -1.02B | -4.99B | -1.32B | -85.59M |
Balance Sheet | ||||||
| Total Assets | 6.40B | 6.70B | 7.41B | 5.57B | 7.04B | 6.95B |
| Cash, Cash Equivalents and Short-Term Investments | 3.96B | 4.18B | 4.26B | 2.18B | 3.07B | 5.57B |
| Total Debt | 719.85M | 625.86M | 1.11B | 3.73B | 1.95B | 1.01B |
| Total Liabilities | 1.96B | 2.14B | 2.86B | 7.04B | 3.54B | 2.14B |
| Stockholders Equity | 4.44B | 4.55B | 4.55B | -1.48B | 3.50B | 4.81B |
Cash Flow | ||||||
| Free Cash Flow | -4.37B | 617.23M | -4.37B | -3.02B | -2.19B | 470.43M |
| Operating Cash Flow | 220.93M | 654.94M | 220.93M | -1.91B | -1.91B | 481.69M |
| Investing Cash Flow | -3.40B | 91.31M | -3.40B | -1.39B | -1.55B | -552.95M |
| Financing Cash Flow | 5.28B | -515.62M | 5.28B | 2.38B | 958.45M | 4.30B |
Enechange Ltd. Technical Analysis
Negative
293.00
Price Trends
275.16
Negative
270.96
Negative
297.06
Negative
Market Momentum
-28.74
Positive
27.42
Positive
15.88
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4169, the sentiment is Negative. The current price of 293 is above the 20-day moving average (MA) of 210.15, above the 50-day MA of 275.16, and below the 200-day MA of 297.06, indicating a bearish trend. The MACD of -28.74 indicates Positive momentum. The RSI at 27.42 is Positive, neither overbought nor oversold. The STOCH value of 15.88 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4169.
Enechange Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥20.23B | 16.22 | ― | 0.52% | 46.71% | 43.62% | |
70 Outperform | ¥9.20B | 14.42 | ― | 1.48% | 12.08% | 12.32% | |
65 Neutral | ¥23.78B | -42.19 | ― | ― | 298.95% | 32.38% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | ¥36.61B | 53.34 | ― | ― | 25.82% | ― | |
49 Neutral | ¥7.93B | 58.42 | ― | ― | 24.66% | ― | |
47 Neutral | ¥17.78B | -724.96 | ― | ― | -90.44% | 73.99% |
* Technology Sector Average
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Enechange Ltd. Corporate Events
ENECHANGE Sets New Governance Structure for 12th Fiscal Year
May 20, 2026
ENECHANGE Ltd. has outlined its management structure for the 12th fiscal year, confirming a four-member Board of Directors with two internal and two outside directors to maintain at least half of the board as independent, thereby reinforcing the s...
Enechange Broadens Corporate Purpose to Support Wider Energy Expansion
May 20, 2026
ENECHANGE’s board has approved amendments to its Articles of Incorporation to broaden the company’s stated business purposes in line with its medium-term management plan. The changes, subject to shareholder approval at the June 23, 202...
ENECHANGE Affiliate Miraiz ENECHANGE Enters Civil Rehabilitation Amid EV Slowdown
May 19, 2026
ENECHANGE’s equity-method affiliate Miraiz ENECHANGE, a joint venture with Chubu Electric Power Miraiz created from the spin-off of ENECHANGE’s EV charging division, has filed for the commencement of civil rehabilitation in Tokyo along...
ENECHANGE Books Higher Non-operating Losses but Ups Deferred Tax Assets on Brighter Outlook
May 15, 2026
ENECHANGE Ltd. reported that in the fourth quarter of the fiscal year ending March 2026 it booked non-operating expenses of ¥158 million, mainly due to a ¥142 million equity-method investment loss tied to Japan Energy Capital 2 L.P. This...
ENECHANGE swings to operating profit as core businesses strengthen and EV unit shifts to joint venture
May 15, 2026
ENECHANGE reported full-year results for the 12 months to March 31, 2026 that marked a sharp turnaround from the prior 15‑month period, moving from a deep operating loss to an operating profit of 592 million yen on sales of 6,697 million yen...
ENECHANGE Returns to Profit and Targets Further Earnings Growth in FY2027
May 15, 2026
ENECHANGE Ltd. reported consolidated revenue of ¥6.7 billion for the fiscal year ended March 31, 2026, roughly flat year on year, but swung from a heavy operating loss to an operating profit of ¥592 million and net profit of ¥130 mi...
ENECHANGE Raises FY25 Earnings Forecast on Strong Electricity Switching and SaaS Revenues
Mar 27, 2026
ENECHANGE Ltd. announced a further upward revision to its consolidated earnings forecast for the fiscal year ending March 31, 2026, after adjusted EBITDA as of the end of the third quarter exceeded the previously projected upper limit. The company...
ENECHANGE Flags Strong Earnings Momentum and New Growth Pillars in Investor Q&A
Mar 26, 2026
ENECHANGE has disclosed a new set of investor QA for March 2026, underscoring strong progress in its core operations and clarifying its strategic priorities. While adjusted EBITDA for the fiscal year ending March 2026 has already surpassed the upp...
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.