IC CO.,LTD. (4769) AI Stock Analysis

• Market Cap: ¥7.92B
• Dividend Yield: 3.79%
• Average Volume (3M): 1.32K
• Price to Earnings (P/E): 19.3
• Beta (1Y): 0.11
• Revenue Growth: 9.11%
• EPS Growth: 26.68%
• Country: JP
• Employees: 762
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 27.75
• Shares Outstanding: 7,732,270
• 10 Day Avg. Volume: 950
• 30 Day Avg. Volume: 1,320
• PEG Ratio: 0.61
• Price to Book (P/B): 1.22
• Price to Sales (P/S): 0.77
• P/FCF Ratio: 55.73
• 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: 70 Outperform
• Price Target: ¥1,163.00 ▲(10.03% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is driven primarily by solid fundamentals (accelerating revenue growth and a strong debt-free balance sheet), tempered by inconsistent and recently weaker cash-flow conversion. Valuation is supportive with a reasonable P/E and a solid dividend yield, while technical signals are mildly weak/neutral in the near term.

Positive Factors

Revenue Growth

The company's accelerating revenue growth indicates a robust market position and effective business strategies, supporting long-term expansion.

Balance Sheet Health

A debt-free balance sheet enhances financial stability and reduces risk, providing flexibility for future investments and growth opportunities.

Profitability

Healthy profitability, supported by a strong balance sheet, indicates efficient operations and the ability to sustain competitive advantages over time.

Negative Factors

Cash Flow Volatility

Volatile cash flow can hinder the company's ability to consistently fund operations and investments, posing a risk to financial stability.

Cash Conversion

Weak cash conversion in 2025 suggests potential issues in working capital management, affecting liquidity and operational efficiency.

Margin Variability

Variability in margins indicates potential challenges in cost management or pricing power, which could impact long-term profitability.

IC CO.,LTD. Business Overview & Revenue Model

Company Description

Information Creative Co., Ltd. provides solutions in information service field. The company offers software development services, including development services for Web-based, general-purpose, and embedded systems; integrated package introduction support, system integration, system consulting, and other services; and maintenance, repair after delivery, and other services. It also provides infrastructure design construction services, including the hardware installation; and professional services related to operational aspects, such as system operation, help desk, system operation management, etc. In addition, the company develops and sells package software for the ticket and hairdressing industry; and plans, develops, and manages inbound media and applications. It serves private enterprises in various industries; and public organizations, such as municipalities and government agencies, and financial companies, as well as electric power, railroad, communication, and distribution and manufacturing industries. Information Creative Co., Ltd. was founded in 1978 and is headquartered in Tokyo, Japan.

How the Company Makes Money

IC CO.,LTD. generates revenue primarily through its IT services, which include custom software development, system integration, and IT consulting. The company engages in projects for clients across different industries, billing them for the development and maintenance of software solutions, integration of IT systems, and provision of consultancy services. Additionally, IC CO.,LTD. may earn revenue from long-term service contracts and support agreements. Partnerships with technology providers and the ability to deliver scalable solutions contribute to its earnings by expanding its service offerings and client base.

IC CO.,LTD. Financial Statement Overview

Summary

Revenue growth has strengthened into 2024–2025 and profitability is generally healthy, supported by a very strong, debt-free balance sheet. The main weakness is volatile cash flow and weaker cash conversion in 2025, which reduces confidence in earnings translating consistently into cash.

Income Statement

Revenue has grown steadily, accelerating from low-single-digit growth in 2023 to strong growth in 2024–2025. Profitability is healthy but not consistently improving: gross margin has been stable around ~20–22%, while net margin improved from 2023 to 2025 but remains below the 2020–2022 peak. Operating profitability also recovered in 2025 after a softer 2023–2024, suggesting resilience, though margins still show some cycle-to-cycle variability.

Balance Sheet

The balance sheet is conservatively positioned with zero debt and rising equity over time, which meaningfully reduces financial risk. Returns on equity are positive and generally stable (mid-single digits to low-teens historically), though they are below the stronger levels seen in 2020–2022. Overall, the company shows strong balance sheet stability with limited leverage-related downside.

Cash Flow

Free cash flow has been uneven, with sharp swings across years, including a meaningful decline in 2023 followed by a strong rebound in 2024 and a much lower level again in 2025. While free cash flow has often been close to net income (notably in 2022, 2024, and 2025), operating cash generation versus earnings weakened materially in 2025, indicating potential working-capital or timing pressure. Cash flow quality is therefore mixed despite periodic strong conversion.

Breakdown	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	10.14B	9.29B	8.56B	8.49B	8.11B
Gross Profit	2.16B	1.92B	1.82B	1.84B	1.61B
EBITDA	896.69M	640.51M	624.82M	751.58M	691.49M
Net Income	485.61M	384.04M	372.15M	526.36M	487.75M
Balance Sheet
Total Assets	8.70B	8.11B	8.18B	7.66B	7.43B
Cash, Cash Equivalents and Short-Term Investments	3.74B	4.07B	3.98B	3.94B	4.09B
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	2.27B	2.08B	2.13B	2.06B	2.00B
Stockholders Equity	6.43B	6.03B	6.04B	5.59B	5.43B
Cash Flow
Free Cash Flow	140.76M	474.86M	265.27M	449.76M	290.67M
Operating Cash Flow	144.70M	509.55M	489.55M	467.68M	341.72M
Investing Cash Flow	-165.77M	12.07M	-210.55M	-268.37M	13.91M
Financing Cash Flow	-303.90M	-430.14M	-243.62M	-314.89M	-294.45M

IC CO.,LTD. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1057.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4769, the sentiment is Negative. The current price of 1057 is above the 20-day moving average (MA) of 1044.25, above the 50-day MA of 1049.84, and above the 200-day MA of 1027.86, indicating a neutral trend. The MACD of -5.10 indicates Positive momentum. The RSI at 41.33 is Neutral, neither overbought nor oversold. The STOCH value of 36.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4769.

IC CO.,LTD. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4752	81 Outperform	¥7.15B	8.94	―	3.37%	5.25%	23.64%
2332	80 Outperform	¥8.98B	12.48	―	3.16%	14.02%	2.74%
4769	70 Outperform	¥7.92B	19.28	―	3.79%	9.11%	26.68%
3988	68 Neutral	¥5.84B	14.48	―	1.23%	11.62%	-16.59%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
155A	58 Neutral	¥9.66B	30.74	―	―	30.13%	9.94%
5255	41 Neutral	¥7.31B	-13.85	―	―	-29.41%	79.74%