i-plug, Inc. (4177) AI Stock Analysis

• Market Cap: ¥6.57B
• Dividend Yield: N/A
• Average Volume (3M): 4.75K
• Price to Earnings (P/E): 11.2
• Beta (1Y): 0.42
• Revenue Growth: 10.47%
• EPS Growth: 229.21%
• Country: JP
• Employees: 334
• Sector: Industrials
• Sector Strength: 72
• Industry: Staffing & Employment Services
• EPS (TTM): 28.29
• Shares Outstanding: 3,984,102
• 10 Day Avg. Volume: 2,590
• 30 Day Avg. Volume: 4,750
• PEG Ratio: -0.02
• Price to Book (P/B): 3.30
• Price to Sales (P/S): 0.91
• P/FCF Ratio: 5.73
• 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: 81 Outperform
• Price Target: ¥1,790.00 ▲(23.79% Upside)

The score is driven primarily by strong financial performance (improving margins, low leverage, and strong cash conversion) and supportive technical momentum (price above key moving averages with positive MACD). Valuation is also a positive with a P/E of 10.4, though overbought RSI/Stoch readings add near-term pullback risk and no dividend yield data is available.

Positive Factors

Revenue Growth

The company has demonstrated strong revenue growth, indicating effective market penetration and product demand, which supports long-term business expansion.

Margin Sustainability

High and improving margins suggest efficient operations and pricing power, contributing to sustainable profitability and competitive advantage.

Cash Generation

Strong cash generation enhances financial flexibility, enabling reinvestment in growth opportunities and resilience against economic downturns.

Negative Factors

Historical Volatility

Historical volatility and prior losses indicate potential risks, which could affect investor confidence and the company's ability to maintain stable growth.

Equity Fluctuations

Fluctuations in equity levels may signal financial instability, impacting long-term strategic planning and investment capacity.

Industry Risk

Operating in a competitive and rapidly evolving industry may expose the company to market risks and require continuous innovation to maintain its market position.

i-plug, Inc. Business Overview & Revenue Model

Company Description

i-plug,Inc. provides graduate direct recruiting services. The company offers OfferBox, a direct recruiting service specializing in new graduates that allows companies to send offers directly to students; PaceBox, a direct recruiting job site for job seekers; and eF-1G, an aptitude test used for human resource flow. The company was incorporated in 2012 and is headquartered in Osaka, Japan.

How the Company Makes Money

i-plug, Inc. generates revenue primarily through the sale of its proprietary connectivity products, which include connectors, cables, and integration software. The company operates a B2B model, supplying these products to manufacturers and service providers within the telecommunications and electronics sectors. In addition to direct sales, i-plug, Inc. benefits from recurring revenue through maintenance contracts and software licensing agreements. Strategic partnerships with major technology firms further enhance its market reach, enabling access to new customer segments and collaborative product development opportunities that contribute to its earnings.

i-plug, Inc. Financial Statement Overview

Summary

i-plug, Inc. demonstrates strong financial performance with significant improvements in profitability and cash flow. The company shows excellent revenue growth, robust margins, and a solid balance sheet with low leverage. However, historical volatility and prior losses present some risks.

Income Statement

The company has shown strong revenue growth with a significant increase from 2024 to 2025. Gross Profit Margin is robust at around 90.8% for 2025, and Net Profit Margin improved significantly, moving from negative to 11.8% in 2025. EBIT and EBITDA margins have also improved, indicating better operational efficiency. However, past years showed volatility with losses, indicating some risk.

Balance Sheet

The balance sheet displays a solid equity position with an Equity Ratio of 36.5% in 2025, reflecting financial stability. The Debt-to-Equity ratio is low at 0.30, suggesting low financial leverage. Return on Equity has improved significantly to 42.8% in 2025, highlighting effective use of equity. However, past fluctuations in equity levels suggest potential risks.

Cash Flow

The company exhibits strong cash flow management with significant Free Cash Flow growth from 2024 to 2025. The Operating Cash Flow to Net Income ratio of 1.37 indicates good cash conversion, and the Free Cash Flow to Net Income ratio is high at 1.35, reflecting strong cash generation. Despite positive trends, fluctuations in previous years should be monitored.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	5.31B	5.08B	4.60B	3.74B	3.04B	2.15B
Gross Profit	4.82B	4.62B	4.07B	3.26B	2.69B	1.81B
EBITDA	745.74M	745.10M	-10.26M	-331.58M	414.47M	328.94M
Net Income	646.34M	597.92M	-193.93M	-492.42M	253.79M	232.49M
Balance Sheet
Total Assets	5.04B	3.82B	3.20B	3.49B	3.32B	2.86B
Cash, Cash Equivalents and Short-Term Investments	3.10B	2.51B	2.16B	2.38B	2.78B	2.44B
Total Debt	333.00M	420.82M	542.45M	957.72M	624.04M	770.19M
Total Liabilities	3.82B	2.43B	2.42B	2.53B	1.89B	1.71B
Stockholders Equity	1.22B	1.40B	782.14M	960.59M	1.43B	1.16B
Cash Flow
Free Cash Flow	0.00	804.39M	200.25M	-511.28M	494.91M	385.20M
Operating Cash Flow	0.00	819.38M	490.31M	-291.50M	553.70M	407.94M
Investing Cash Flow	0.00	-352.44M	-290.06M	-452.22M	-54.21M	2.72M
Financing Cash Flow	0.00	-122.19M	-415.47M	340.20M	-130.81M	840.86M

i-plug, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1446.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4177, the sentiment is Positive. The current price of 1446 is below the 20-day moving average (MA) of 1502.35, above the 50-day MA of 1401.08, and above the 200-day MA of 1291.24, indicating a bullish trend. The MACD of 56.40 indicates Negative momentum. The RSI at 77.23 is Negative, neither overbought nor oversold. The STOCH value of 89.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4177.

i-plug, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4177	81 Outperform	¥6.57B	11.25	―	―	10.47%	229.21%
2136	79 Outperform	¥6.38B	15.26	―	3.39%	5.71%	18.97%
6538	76 Outperform	¥7.52B	19.34	―	1.32%	12.73%	―
7080	74 Outperform	¥6.10B	9.34	―	2.01%	12.91%	14.39%
7089	68 Neutral	¥6.07B	12.06	―	―	21.37%	93.71%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
6551	61 Neutral	¥6.46B	12.33	―	1.87%	11.47%	45.70%