SpiderPlus & Co. (JP:4192)
:4192
Want to see JP:4192 full AI Analyst Report?
Top Page
SpiderPlus & Co.
(4192)
Select Model
Select Model
Rating:51Neutral
Price Target:
¥274.00
▼(-6.16% Downside)
Action:Reiterated
Date:05/16/26
The score is driven primarily by improving financial performance (better margins and a shift to positive operating/free cash flow in 2025), but it is held back by weak technical trend signals (trading below key moving averages) and very unfavorable valuation (extremely high P/E).
Positive Factors
Improving margins & revenue growth
Revenue remained positive while gross margin expanded to ~74% in 2025, indicating strong unit economics for a software platform. High gross margin supports scalable revenue, funds product and service investments, and underpins durable profitability as adoption grows over the coming months.
Negative Factors
Inconsistent profitability
Despite margin and cash improvements, operating profit and net income remain slightly negative in 2025 and the company has multiple prior loss years. Persistent inconsistent profitability can erode equity, limit reinvestment capacity, and elevate execution risk unless operating leverage turns decisively positive.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving margins & revenue growth
Revenue remained positive while gross margin expanded to ~74% in 2025, indicating strong unit economics for a software platform. High gross margin supports scalable revenue, funds product and service investments, and underpins durable profitability as adoption grows over the coming months.
Read all positive factors
SpiderPlus & Co. (4192) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥9.73B
Dividend YieldN/A
Average Volume (3M)132.61K
Price to Earnings (P/E)1366.9
Beta (1Y)0.96
Revenue Growth16.11%
EPS Growth99.75%
CountryJP
Employees250
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-12.97
Shares Outstanding35,522,200
10 Day Avg. Volume279,900
30 Day Avg. Volume132,610
Financial Highlights & Ratios
PEG Ratio6.09
Price to Book (P/B)3.88
Price to Sales (P/S)2.11
P/FCF Ratio163.44
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)17.8
Revenue Forecast (FY)¥7.15B
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, i...
How the Company Makes Money
The company makes money primarily by providing access to its SpiderPlus software platform and related services. Revenue is generated through software usage fees (e.g., subscription or licensing fees) paid by customer organizations that adopt the p...
SpiderPlus & Co. Financial Statement Overview
Summary
Income Statement
55
Neutral
Balance Sheet
68
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.52B | 4.90B | 4.07B | 3.19B | 2.48B | 2.21B |
| Gross Profit | 3.24B | 3.62B | 2.77B | 2.07B | 1.52B | 1.26B |
| EBITDA | -6.22M | 149.76M | -589.25M | -281.10M | -901.27M | -475.78M |
| Net Income | -457.28M | -17.36M | -771.66M | -463.35M | -1.04B | -511.67M |
Balance Sheet | ||||||
| Total Assets | 4.11B | 4.16B | 4.21B | 4.60B | 4.79B | 5.43B |
| Cash, Cash Equivalents and Short-Term Investments | 2.64B | 2.48B | 2.74B | 2.85B | 3.04B | 4.20B |
| Total Debt | 950.88M | 836.68M | 1.03B | 504.44M | 450.67M | 178.12M |
| Total Liabilities | 1.49B | 1.50B | 1.57B | 1.21B | 1.11B | 804.21M |
| Stockholders Equity | 2.62B | 2.66B | 2.65B | 3.39B | 3.68B | 4.62B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 63.18M | -387.38M | -413.56M | -1.71B | -854.95M |
| Operating Cash Flow | 0.00 | 78.89M | -369.09M | -331.22M | -1.00B | -493.48M |
| Investing Cash Flow | 0.00 | -181.98M | -52.41M | -85.01M | -508.68M | -610.36M |
| Financing Cash Flow | 0.00 | -158.63M | 322.64M | 217.61M | 363.05M | 4.83B |
SpiderPlus & Co. Technical Analysis
Negative
292.00
Price Trends
282.86
Negative
291.01
Negative
354.31
Negative
Market Momentum
1.47
Positive
40.98
Neutral
12.83
Positive
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 292 is below the 20-day moving average (MA) of 311.35, above the 50-day MA of 282.86, and below the 200-day MA of 354.31, indicating a bearish trend. The MACD of 1.47 indicates Positive momentum. The RSI at 40.98 is Neutral, neither overbought nor oversold. The STOCH value of 12.83 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4192.
SpiderPlus & Co. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ¥9.18B | 12.97 | ― | 1.48% | 12.08% | 12.32% | |
67 Neutral | ¥9.51B | 5.52 | ― | 0.70% | 12.98% | 80.52% | |
62 Neutral | ¥4.45B | 25.26 | ― | ― | 6.84% | -67.48% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | ¥40.79B | 29.34 | ― | ― | 25.82% | ― | |
58 Neutral | ¥11.81B | 23.59 | ― | ― | 12.68% | ― | |
51 Neutral | ¥9.73B | 1,366.88 | ― | ― | 16.11% | 99.75% |
* Technology Sector Average
JP:4192
SpiderPlus & Co.
274.00
-200.00
-42.19%
JP:4168
Yappli, Inc.
732.00
-14.02
-1.88%
JP:4375
Safie Inc.
731.00
-99.00
-11.93%
JP:4389
Property Data Bank, Inc.
887.00
49.26
5.88%
JP:4448
Chatwork Co.Ltd.
277.00
-178.00
-39.12%
JP:5033
Nulab Inc.
687.00
-161.00
-18.99%
SpiderPlus & Co. Corporate Events
SpiderPlus Narrows Losses and Returns to Profit in First Quarter 2026
May 14, 2026
SpiderPlus Co. reported consolidated net sales of ¥1,268 million for the three months ended March 31, 2026, an 8.8% year-on-year increase, with operating and ordinary income both turning positive at ¥5 million and net income attributabl...
SpiderPlus & Co. Outlines DX-Focused Growth Plan for Construction Sector
Mar 31, 2026
SpiderPlus Co. has released business plan and growth potential materials dated March 31, 2026, outlining its strategic focus on driving digital transformation in the construction industry. While detailed financials and specific initiatives are no...
SpiderPlus & Co. to Introduce Restricted Stock Plan for Directors
Feb 26, 2026
SpiderPlus Co. plans to introduce a new restricted stock compensation plan for its directors, including outside directors, pending shareholder approval at its March 25, 2026 annual meeting. The scheme, separate from existing cash compensation lim...
SpiderPlus Revamps Board Lineup to Strengthen Governance and Execution
Feb 26, 2026
SpiderPlus Co. has nominated six director candidates for approval at its 27th Ordinary General Meeting of Shareholders on March 25, 2026, including the reappointment of President Kenji Ito and five other directors, with three outside directors ex...
SpiderPlus & Co. Targets Construction Productivity Amid Labor Shortages
Feb 19, 2026
SpiderPlus Co., listed on the TSE Growth market, develops and provides technology solutions aimed at improving productivity and reforming work methods at construction sites. The company focuses on digital tools for the construction industry, posi...
SpiderPlus Publishes Q&A Transcript and Video From FY2025 Results Briefing
Feb 19, 2026
SpiderPlus Co. has released the transcript of the QA session and archived video from its financial results briefing held on February 12, 2026, featuring President and CEO Kenji Ito and CFO Yutaka Fujiwara. The disclosure offers investors and othe...
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.