YMIRLINK,Inc. (4372) AI Stock Analysis

• Market Cap: ¥4.60B
• Dividend Yield: 1.28%
• Average Volume (3M): 1.32K
• Price to Earnings (P/E): 15.0
• Beta (1Y): -0.09
• Revenue Growth: 13.05%
• EPS Growth: 3.18%
• Country: JP
• Employees: 133
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 14.53
• Shares Outstanding: 3,892,600
• 10 Day Avg. Volume: 1,540
• 30 Day Avg. Volume: 1,320
• PEG Ratio: -0.66
• Price to Book (P/B): 1.81
• Price to Sales (P/S): 1.78
• P/FCF Ratio: 16.94
• 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: 73 Outperform
• Price Target: ¥1,415.00 ▼(-0.49% Downside)
• Action: Upgraded Date: 03/13/26
• Date: Action: Upgraded 03/13/26

The score is primarily driven by strong financial fundamentals (steady growth and a very conservative balance sheet), partly offset by weaker 2025 margin/cash-conversion trends. Technical indicators add caution due to a negative MACD and the price remaining below longer-term moving averages, while valuation appears reasonable with a modest dividend yield.

Positive Factors

Conservative balance sheet

Near-zero leverage and minimal debt with equity expanding alongside assets indicate internally funded expansion and strong financial flexibility. This reduces refinancing risk, preserves optionality for investments or dividends, and enhances resilience through industry downturns.

Consistent revenue growth

Multi-year top-line growth, including 7.8% YoY in 2025, reflects sustained demand and scalable product adoption. Durable revenue expansion supports reinvestment in R&D and sales, enabling market-share gains and the potential to rebuild margins through operating leverage over time.

Consistent cash generation

Positive operating and free cash flow across all years provides a reliable internal funding source for capex, dividends and strategic initiatives. Persistent cash generation limits reliance on external financing and underpins long-term capital allocation flexibility despite near-term conversion weakness.

Negative Factors

Margin compression in 2025

A material drop in net margin signals deteriorating profitability quality. If driven by structural cost increases or recurring non-operating pressures, this compression reduces sustainable earnings, limits reinvestment capacity and may persistently lower returns to shareholders over several quarters.

Weaker cash conversion

OCF below net income and a falling FCF share indicate weakening cash conversion, likely from higher working-capital needs or elevated investments. Continued weakness would constrain free cash available for dividends, buybacks or strategic M&A, reducing financial flexibility.

Eroding returns / EPS decline

ROE has softened versus prior peak years and EPS growth is negative, signaling reduced effectiveness in converting growth into shareholder value. If this trend continues, it can pressure investor returns and indicate structural issues in margin or capital efficiency that hinder long-term value creation.

YMIRLINK,Inc. Business Overview & Revenue Model

Company Description

YMIRLINK,Inc. engages in messaging solution business. The company provides cloud services to support marketing and communication, such as transmission, collection, and analysis of information using the internet. It offers Cuenote FC, a mail delivery system; Cuenote SR-S, a mail relay server; Cuenote Survey, a web questionnaire form system; Cuenote SMS, a short message delivery service; Cuenote, a safety confirmation service; and Cuenote Auth, a multi-step authentication service. The company was incorporated in 1999 and is headquartered in Tokyo, Japan. YMIRLINK,Inc. is a subsidiary of Itec Hankyu Hanshin Co., Ltd.

How the Company Makes Money

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YMIRLINK,Inc. Financial Statement Overview

Summary

Consistent multi-year revenue growth and strong operating profitability, supported by an exceptionally low-debt balance sheet. The main concern is the 2025 step-down in net margin and weaker cash conversion versus 2023–2024, which softens earnings quality.

Income Statement

Revenue has grown consistently from 2020 to 2025 (from ~¥1.63B to ~¥3.05B), with 2025 showing solid growth (+7.8% YoY). Profitability remains strong for the sector, with 2025 gross margin ~65% and EBIT margin ~22%. However, margins have trended down versus 2023–2024 (net margin fell to ~11.9% in 2025 from ~17.6% in 2024), and net income declined in 2025 despite higher revenue, suggesting higher costs and/or non-operating headwinds.

Balance Sheet

The balance sheet looks very conservative: total debt is effectively zero in most years (and minimal even in 2024), resulting in near-zero leverage (debt-to-equity ~0.0–0.02x). Equity has expanded steadily alongside asset growth, indicating internally funded expansion and financial flexibility. The main drawback is that profitability on equity has eased recently (ROE was strongest in 2020–2022, lower in 2023–2024), but overall balance-sheet risk appears low.

Cash Flow

Cash generation is positive with operating cash flow and free cash flow in every year shown. That said, cash conversion weakened in 2025: operating cash flow was below net income (coverage ~0.87x) and free cash flow was a more modest share of earnings (~0.64x), both down from 2023–2024. Free cash flow also declined in 2025 versus 2024, pointing to higher working-capital needs and/or increased investment levels, even as the business remains cash-flow positive.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.83B	3.05B	2.67B	2.31B	2.18B	1.93B
Gross Profit	1.89B	1.99B	1.80B	1.59B	1.46B	1.31B
EBITDA	716.38M	809.91M	719.61M	675.52M	598.32M	485.17M
Net Income	446.15M	362.64M	469.68M	409.00M	359.40M	286.92M
Balance Sheet
Total Assets	3.29B	3.58B	3.44B	2.78B	2.38B	2.10B
Cash, Cash Equivalents and Short-Term Investments	2.28B	2.58B	2.54B	2.09B	1.72B	1.51B
Total Debt	0.00	0.00	59.08M	0.00	0.00	0.00
Total Liabilities	465.79M	575.60M	588.38M	406.00M	440.19M	402.56M
Stockholders Equity	2.83B	3.00B	2.85B	2.37B	1.94B	1.70B
Cash Flow
Free Cash Flow	0.00	320.65M	508.46M	368.00M	326.71M	268.62M
Operating Cash Flow	0.00	502.17M	601.38M	458.00M	444.47M	341.54M
Investing Cash Flow	0.00	-191.71M	-150.07M	-90.00M	-117.76M	687.84M
Financing Cash Flow	0.00	-269.83M	0.00	0.00	-118.70M	294.98M

YMIRLINK,Inc. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1422.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4372, the sentiment is Neutral. The current price of 1422 is above the 20-day moving average (MA) of 1149.85, above the 50-day MA of 1291.22, and above the 200-day MA of 1399.86, indicating a neutral trend. The MACD of -22.56 indicates Negative momentum. The RSI at 49.86 is Neutral, neither overbought nor oversold. The STOCH value of 59.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:4372.

YMIRLINK,Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4372	73 Outperform	¥4.60B	14.98	―	1.28%	13.05%	3.18%
4429	73 Outperform	¥4.31B	10.74	―	―	―	―
3917	66 Neutral	¥4.72B	62.68	―	―	7.40%	―
4075	66 Neutral	¥9.74B	18.46	―	―	28.63%	551.37%
5033	66 Neutral	¥4.86B	21.99	―	―	7.60%	19.13%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
4484	55 Neutral	¥4.99B	29.81	―	―	4.36%	-0.02%

YMIRLINK,Inc. Corporate Events

YMIRLINK Lifts Sales but Profit Drops, Forecasts Margin Pressure in 2026

YMIRLINK reported consolidated net sales of ¥3,054 million for the year ended December 31, 2025, up 14.4% year on year, with operating profit rising 5.3% to ¥671 million and ordinary profit up 5.6% to ¥672 million. Net profit attributable to owners of the parent fell 22.8% to ¥362 million, compressing basic earnings per share to ¥94.65 and prompting a significantly lower year-end dividend of ¥19 per share following the previous year’s commemorative payout.

The company’s financial position remained robust, with total assets of ¥3,576 million, an equity-to-asset ratio of 83.9%, and cash and cash equivalents of ¥2,581 million, reflecting solid liquidity despite lower operating cash flow compared with the prior year. For the fiscal year ending December 31, 2026, YMIRLINK forecasts a 10.0% increase in net sales to ¥3,360 million but expects operating profit to decline 21.0% to ¥530 million and ordinary profit to fall 20.6% to ¥533 million, signaling anticipated margin pressure even as net profit is projected to edge up slightly to ¥365 million.

The most recent analyst rating on (JP:4372) stock is a Hold with a Yen1302.00 price target. To see the full list of analyst forecasts on YMIRLINK,Inc. stock, see the JP:4372 Stock Forecast page.

YMIRLINK Releases Full-Year 2025 Results and 2026 Outlook

YMIRLINK, Inc. has released a summary of its full-year consolidated results for the fiscal year ended December 31, 2025, along with its consolidated forecast for the fiscal year ending December 31, 2026. The materials also outline the company’s growth plan, its policy on shareholder returns, and an appendix with additional supporting information, signaling a comprehensive update for investors and stakeholders on performance, outlook, and capital policy.

The most recent analyst rating on (JP:4372) stock is a Hold with a Yen1302.00 price target. To see the full list of analyst forecasts on YMIRLINK,Inc. stock, see the JP:4372 Stock Forecast page.