Asgent, Inc. (4288) AI Stock Analysis

• Market Cap: ¥2.15B
• Dividend Yield: N/A
• Average Volume (3M): 100.78K
• Price to Earnings (P/E): 11.3
• Beta (1Y): 2.21
• Revenue Growth: 20.46%
• EPS Growth: 37.56%
• Country: JP
• Employees: 90
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): 14.89
• Shares Outstanding: 3,815,734
• 10 Day Avg. Volume: 228,420
• 30 Day Avg. Volume: 100,783
• PEG Ratio: 2.58
• Price to Book (P/B): 5.72
• Price to Sales (P/S): 0.65
• P/FCF Ratio: -7.33
• 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: 49 Neutral
• Price Target: ¥561.00 ▼(-17.01% Downside)
• Action: Reiterated Date: 02/14/26
• Date: Action: Reiterated 02/14/26

The score is primarily held back by weak financial performance: ongoing losses, negative operating/free cash flow, and a sharp increase in leverage. Technicals are a relative positive with price above major moving averages and positive MACD, but valuation support is limited given the negative P/E.

Positive Factors

Top-line rebound

A 25% revenue rebound in FY2025 indicates recovered demand and regained commercial traction after prior declines. Sustained top-line recovery increases the chance to leverage fixed costs, improves scale economics, and forms a foundation for durable margin improvement if cost structure is managed over the next several quarters.

Industry positioning: software infrastructure

Operating in software infrastructure exposes the company to secular demand for cloud, automation, and platform software. These structural trends support durable TAM and recurring commercial opportunities, enabling multi-quarter visibility into enterprise spend and potential for sticky revenue if products address core infrastructure needs.

Lean headcount / capital-light profile

A relatively small workforce (90 employees) suggests a capital-light, scalable operating model typical of software firms. This composition can allow faster margin expansion as revenue grows, lower fixed overhead, and greater flexibility to reallocate resources for product development or sales over a multi-month horizon.

Negative Factors

Rising leverage

Debt-to-equity jumping to ~1.19 signals materially higher financial risk and a thinner equity cushion. Elevated leverage reduces strategic flexibility, increases interest and refinancing exposure, and magnifies downside volatility, constraining the company’s ability to invest or weather further revenue or margin pressure over coming quarters.

Negative operating and free cash flow

Consistent negative operating and free cash flow means the business is not self-funding and likely reliant on external financing or equity issuance. This elevates execution and funding risk, can dilute shareholders, and limits the company’s capacity to invest in product or sales without adding leverage or raising capital over the medium term.

Sustained losses and weak margins

A -15% net margin and multi-year negative operating profitability indicate persistent difficulty converting revenue into sustainable earnings. Volatile and stepped-down gross margins imply structural cost or pricing pressure, making a durable path to profitability uncertain without clear efficiency gains or stronger revenue mix improvements.

Asgent, Inc. Business Overview & Revenue Model

Company Description

Asgent, Inc. develops and distributes network security solutions for enterprises and medium sized organizations in Japan. The company offers managed security, network design/construction, assessment, consulting/auditing, and maintenance services. It also provides security assessment and consulting services; social engineering penetration training services; and security products. The company was incorporated in 1997 and is headquartered in Tokyo, Japan.

Asgent, Inc. Financial Statement Overview

Summary

Revenue rebounded strongly in FY2025 (+25% YoY), but profitability remains weak with a net loss and sustained negative operating profitability. Balance sheet risk increased materially as debt-to-equity rose to ~1.19 with sharply lower equity, and FY2025 operating/free cash flow were negative, increasing funding and execution risk.

Income Statement

Revenue rebounded in FY2025 (+25% YoY) after two consecutive down years, showing some top-line resilience. However, profitability remains weak: the company posted a net loss in FY2025 with a roughly -15% net margin, and operating profitability has been negative for several years (after a brief profit in FY2022). Gross margin is also volatile and stepped down in FY2025 versus FY2024, indicating ongoing pressure on cost structure and/or pricing.

Balance Sheet

Leverage has increased meaningfully: debt-to-equity rose to ~1.19 in FY2025 from ~0.26 in FY2024, driven by higher debt and a sharp drop in equity. Returns on equity are deeply negative in FY2025, consistent with sizable losses and a thinner capital base. While total debt is not extremely large in absolute terms, the rapid deterioration in equity and higher leverage increase financial risk and reduce flexibility.

Cash Flow

Cash generation is a key weakness: operating cash flow was negative in FY2025 and free cash flow was also materially negative, indicating the business is not currently self-funding. Cash flow performance has been inconsistent over time (positive in FY2022 and FY2020, negative in multiple other years), which elevates funding risk. While FY2025 free cash flow was less negative than net income (i.e., losses were not fully matched by cash burn), the company still consumed cash overall.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	2.97B	2.37B	2.83B	3.17B	2.80B
Gross Profit	1.02B	906.69M	957.05M	1.06B	1.06B
EBITDA	-97.61M	-188.42M	-13.63M	130.57M	82.52M
Net Income	-440.47M	-448.07M	-125.59M	76.56M	-51.71M
Balance Sheet
Total Assets	1.57B	1.66B	2.19B	2.53B	2.19B
Cash, Cash Equivalents and Short-Term Investments	663.99M	777.69M	862.74M	993.77M	897.75M
Total Debt	400.00M	200.00M	200.00M	200.00M	200.00M
Total Liabilities	1.23B	882.27M	953.77M	1.17B	696.41M
Stockholders Equity	336.48M	777.36M	1.24B	1.35B	1.49B
Cash Flow
Free Cash Flow	-262.26M	-85.79M	-155.55M	128.07M	-48.71M
Operating Cash Flow	-161.07M	-4.97M	-59.01M	176.59M	43.32M
Investing Cash Flow	-152.50M	-81.65M	-68.88M	-80.89M	-119.73M
Financing Cash Flow	199.93M	0.00	0.00	0.00	-3.00K

Asgent, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 676.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4288, the sentiment is Negative. The current price of 676 is above the 20-day moving average (MA) of 592.30, above the 50-day MA of 640.36, and above the 200-day MA of 588.66, indicating a bearish trend. The MACD of -25.12 indicates Positive momentum. The RSI at 42.03 is Neutral, neither overbought nor oversold. The STOCH value of 34.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4288.

Asgent, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3915	68 Neutral	¥20.46B	9.96	―	―	17.93%	91.21%
4475	68 Neutral	¥31.27B	27.58	―	0.39%	30.59%	65.14%
4493	67 Neutral	¥17.40B	17.99	―	0.17%	31.39%	13.12%
4417	65 Neutral	¥37.65B	29.03	―	0.90%	25.06%	37.24%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
4434	61 Neutral	¥15.79B	8.71	―	―	―	―
4288	49 Neutral	¥2.15B	11.35	―	―	20.46%	37.56%