Welby Inc. (JP:4438)
:4438
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Welby Inc.
(4438)
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Rating:44Neutral
Price Target:
¥277.00
▼(-0.72% Downside)
Action:Reiterated
Date:03/24/26
The score is held down primarily by weak financial performance—persistent heavy losses, ongoing cash burn, and higher leverage in 2025. Technicals are mixed but relatively stable versus longer-term averages, while valuation remains challenging due to negative earnings and no stated dividend yield.
Positive Factors
High gross margins
Sustained ~71% gross margins indicate strong unit economics in Welby’s healthcare information services. High gross margins give the company structural leverage to absorb fixed operating costs and scale toward profitability as revenue growth continues, supporting durable margin improvement if overhead is controlled.
Negative Factors
Deep unprofitability
A net margin near -85% is a persistent structural issue: it erodes equity, limits reinvestment capability, and requires ongoing financing. Without sustained conversion of high gross profit into operating profit, the company faces long-term profitability risk that undermines returns regardless of top-line growth.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained ~71% gross margins indicate strong unit economics in Welby’s healthcare information services. High gross margins give the company structural leverage to absorb fixed operating costs and scale toward profitability as revenue growth continues, supporting durable margin improvement if overhead is controlled.
Read all positive factors
Welby Inc. (4438) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥2.41B
Dividend YieldN/A
Average Volume (3M)3.91K
Price to Earnings (P/E)―
Beta (1Y)1.14
Revenue Growth18.86%
EPS Growth38.80%
CountryJP
Employees54
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)N/A
Shares Outstanding8,435,582
10 Day Avg. Volume3,070
30 Day Avg. Volume3,910
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)8.48
Price to Sales (P/S)3.63
P/FCF Ratio-6.95
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)N/A
Revenue Forecast (FY)N/A
Welby Inc. Business Overview & Revenue Model
Company Description
Welby Inc. provides digital health solutions that help patients to get medical care services. The company offers services in the areas of diabetes mellitus, lifestyle related disease, mental illness, autoimmune disease, neurological disease, rare ...
Welby Inc. Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
34
Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 630.81M | 635.72M | 528.04M | 575.00M | 1.05B | 1.14B |
| Gross Profit | 455.08M | 448.67M | 379.92M | 376.00M | 755.44M | 683.91M |
| EBITDA | -564.74M | -423.57M | -792.75M | -499.97M | 40.29M | -127.70M |
| Net Income | -744.65M | -539.69M | -804.60M | -505.00M | 33.91M | -130.68M |
Balance Sheet | ||||||
| Total Assets | 966.27M | 1.05B | 1.17B | 1.21B | 1.40B | 1.39B |
| Cash, Cash Equivalents and Short-Term Investments | 567.83M | 711.43M | 740.43M | 883.00M | 830.82M | 960.72M |
| Total Debt | 235.00M | 605.71M | 200.00M | 1.21M | 8.35M | 15.49M |
| Total Liabilities | 365.43M | 747.89M | 328.90M | 88.00M | 121.40M | 134.83M |
| Stockholders Equity | 565.27M | 272.33M | 810.02M | 1.09B | 1.27B | 1.26B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -332.29M | -776.25M | -177.00M | -146.86M | -115.46M |
| Operating Cash Flow | 0.00 | -329.49M | -603.63M | -174.00M | -114.11M | -95.95M |
| Investing Cash Flow | 0.00 | 272.44M | -235.84M | -114.39M | -7.04M | -34.56M |
| Financing Cash Flow | 0.00 | 28.05M | 696.54M | 341.25M | -8.74M | -7.14M |
Welby Inc. Technical Analysis
Positive
279.00
Price Trends
329.86
Positive
309.90
Positive
322.35
Positive
Market Momentum
-3.14
Positive
50.05
Neutral
31.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4438, the sentiment is Positive. The current price of 279 is below the 20-day moving average (MA) of 332.60, below the 50-day MA of 329.86, and below the 200-day MA of 322.35, indicating a bullish trend. The MACD of -3.14 indicates Positive momentum. The RSI at 50.05 is Neutral, neither overbought nor oversold. The STOCH value of 31.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4438.
Welby Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥31.82B | 6.80 | ― | 2.58% | 5.70% | 35.98% | |
68 Neutral | ¥32.66B | 9.27 | ― | 1.03% | 10.10% | 42.31% | |
60 Neutral | ¥175.90B | 31.32 | ― | 0.43% | 20.95% | 13.39% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | ¥71.00B | -232.45 | 5.76% | ― | 23.30% | -56.05% | |
44 Neutral | ¥2.41B | -4.65 | ― | ― | 18.86% | 38.80% |
* Healthcare Sector Average
JP:4438
Welby Inc.
286.00
-63.00
-18.05%
JP:4480
Medley
2,169.00
-1,031.00
-32.22%
JP:4483
JMDC Inc.
2,688.00
-438.79
-14.03%
JP:5592
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2,850.00
435.66
18.04%
JP:9438
MTI Ltd.
590.00
-234.65
-28.45%
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.