SpiderPlus & Co. (4192) AI Stock Analysis

• Market Cap: ¥11.02B
• Dividend Yield: N/A
• Average Volume (3M): 132.61K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.05
• Revenue Growth: 22.18%
• EPS Growth: 28.27%
• Country: JP
• Employees: 250
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -1.54
• Shares Outstanding: 35,426,100
• 10 Day Avg. Volume: 279,900
• 30 Day Avg. Volume: 132,610
• PEG Ratio: -0.29
• Price to Book (P/B): 5.40
• Price to Sales (P/S): 3.51
• P/FCF Ratio: -36.90
• 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): 155.96
• Revenue Forecast (FY): ¥901.43B

• Rating: 39 Underperform
• Price Target: ¥296.00 ▼(-4.82% Downside)

SpiderPlus & Co.'s overall stock score is primarily impacted by its financial performance and technical analysis. The company shows revenue growth but struggles with profitability and cash flow. Technical indicators suggest bearish momentum, and valuation metrics are unattractive due to negative earnings. Improvement in operational efficiency and cash flow is needed to enhance the stock's outlook.

Positive Factors

Revenue Growth

Consistent revenue growth reflects strong demand for SpiderPlus & Co.'s innovative technology solutions, supporting long-term business expansion.

Business Model

The SaaS model provides predictable, recurring revenue streams, enhancing financial stability and allowing for scalable growth.

Market Position

Strategic partnerships expand market reach and facilitate product adoption, strengthening SpiderPlus & Co.'s competitive position.

Negative Factors

Profitability Challenges

Persistent profitability challenges could hinder reinvestment in growth and innovation, impacting long-term competitiveness.

Cash Flow Issues

Negative cash flows limit financial flexibility and may necessitate external financing, affecting long-term financial health.

Rising Leverage

Increased leverage can strain financial resources, potentially leading to higher interest costs and reduced investment capacity.

SpiderPlus & Co. Business Overview & Revenue Model

Company Description

SpiderPlus & Co. engages in information and communication technology business in Japan. It offers SPIDERPLUS, a drawing and site management application for the construction industry in Japan. The company also engages in the engineering business, including thermal insulation work. The company was formerly known as Regolith, Inc. and changed its name to SpiderPlus & Co. in September 2020. SpiderPlus & Co. was founded in 1997 and is headquartered in Tokyo, Japan.

How the Company Makes Money

SpiderPlus & Co. primarily generates revenue through the sale of its software products and subscription services. The company operates on a Software as a Service (SaaS) model, charging clients recurring fees for access to its platforms, which include cloud-based analytics and automation tools. Additionally, SpiderPlus & Co. earns revenue from consulting services, assisting businesses in the implementation and optimization of its technologies. Key partnerships with industry leaders in technology and consulting enhance its market reach and contribute to revenue growth by facilitating greater adoption of its products. Furthermore, the company may benefit from performance-based contracts with clients, where earnings can increase based on the measurable success of their solutions.

SpiderPlus & Co. Financial Statement Overview

Summary

SpiderPlus & Co. shows revenue growth but faces profitability and cash flow challenges. The balance sheet is strong with a solid equity base, though leverage is increasing. Improvement in operational efficiency and cash flow is needed for sustainable growth.

Income Statement

SpiderPlus & Co. shows increasing revenue over the years, indicating growth. However, EBIT and net income have been consistently negative, signaling profitability issues. The gross profit margin is high, but the net profit margin is significantly negative due to high operating expenses.

Balance Sheet

The company has a strong equity base relative to its assets, maintaining a healthy equity ratio. However, the debt-to-equity ratio has increased, indicating rising leverage. Liquidity remains stable with significant cash reserves.

Cash Flow

Operating and free cash flows have been negative, reflecting cash flow challenges. Although there is some improvement in recent years, the cash flow to net income ratios suggest that cash generation is inadequate to cover losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.52B	4.07B	3.19B	2.48B	2.21B	1.97B
Gross Profit	3.24B	2.77B	2.07B	1.52B	1.26B	1.05B
EBITDA	-6.22M	-589.25M	-281.10M	-901.27M	-475.78M	132.76M
Net Income	-457.28M	-771.66M	-463.35M	-1.04B	-511.67M	103.09M
Balance Sheet
Total Assets	4.11B	4.21B	4.60B	4.79B	5.43B	905.35M
Cash, Cash Equivalents and Short-Term Investments	2.64B	2.74B	2.85B	3.04B	4.20B	469.28M
Total Debt	950.88M	1.03B	504.44M	450.67M	178.12M	266.21M
Total Liabilities	1.49B	1.57B	1.21B	1.11B	804.21M	496.35M
Stockholders Equity	2.62B	2.65B	3.39B	3.68B	4.62B	409.00M
Cash Flow
Free Cash Flow	0.00	-387.38M	-413.56M	-1.71B	-854.95M	98.93M
Operating Cash Flow	0.00	-369.09M	-331.22M	-1.00B	-493.48M	130.26M
Investing Cash Flow	0.00	-52.41M	-85.01M	-508.68M	-610.36M	12.91M
Financing Cash Flow	0.00	322.64M	217.61M	363.05M	4.83B	-43.67M

SpiderPlus & Co. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 311.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4192, the sentiment is Negative. The current price of 311 is below the 20-day moving average (MA) of 356.50, below the 50-day MA of 397.38, and below the 200-day MA of 458.58, indicating a bearish trend. The MACD of -30.01 indicates Positive momentum. The RSI at 26.73 is Positive, neither overbought nor oversold. The STOCH value of 26.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4192.

SpiderPlus & Co. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4299	79 Outperform	¥13.88B	11.44	―	3.76%	3.96%	-3.68%
3648	76 Outperform	¥24.25B	11.99	―	2.23%	21.57%	129.44%
3712	72 Outperform	¥18.42B	15.34	―	1.85%	6.39%	6.38%
2307	70 Outperform	¥16.54B	10.91	―	3.13%	3.58%	0.23%
3800	68 Neutral	¥13.89B	18.76	―	3.65%	0.85%	12.73%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
4192	39 Underperform	¥11.02B	-27.75	―	―	22.18%	28.27%

SpiderPlus & Co. Corporate Events

SpiderPlus & Co. Targets Growth in Construction DX Amid Industry Challenges

SpiderPlus & Co. has released its FY2025 Q3 results, highlighting the company’s strategic focus on digital transformation (DX) in the construction industry. The company sees significant market opportunities in addressing the industry’s need for productivity improvements amid workforce shortages, positioning itself to capitalize on the expected growth in urban redevelopment and infrastructure repair demands.

The most recent analyst rating on (JP:4192) stock is a Sell with a Yen333.00 price target. To see the full list of analyst forecasts on SpiderPlus & Co. stock, see the JP:4192 Stock Forecast page.

SpiderPlus & Co. Revises Financial Forecast Amid Strategic Shift

SpiderPlus & Co. announced a revision of its full-year financial forecast for 2025, anticipating lower net sales and operating income than previously expected. This adjustment is due to a strategic focus on transitioning existing customers to their new ‘SPIDER+Workspace’ platform, which has slowed new customer acquisition. Despite the expected operating loss, the company is committed to strategic investments for long-term growth, including platform development and recruitment. Additionally, the company recorded non-operating expenses related to advisory fees for enhancing corporate value.

The most recent analyst rating on (JP:4192) stock is a Hold with a Yen462.00 price target. To see the full list of analyst forecasts on SpiderPlus & Co. stock, see the JP:4192 Stock Forecast page.

SpiderPlus & Co. Shows Financial Improvement Despite Ongoing Losses

SpiderPlus & Co. reported a significant improvement in its financial performance for the nine months ending September 30, 2025, with net sales increasing by 21.3% year-on-year. Despite the increase in sales, the company still recorded a net loss, but the loss was significantly reduced compared to the previous year, indicating a positive trend in its financial recovery.

The most recent analyst rating on (JP:4192) stock is a Hold with a Yen462.00 price target. To see the full list of analyst forecasts on SpiderPlus & Co. stock, see the JP:4192 Stock Forecast page.