YAMADA Consulting Group Co., Ltd. (4792) AI Stock Analysis

• Market Cap: ¥31.89B
• Dividend Yield: 4.39%
• Average Volume (3M): 26.41K
• Price to Earnings (P/E): 13.9
• Beta (1Y): 0.86
• Revenue Growth: 2.46%
• EPS Growth: -31.77%
• Country: JP
• Employees: 1,057
• Sector: Industrials
• Sector Strength: 72
• Industry: Consulting Services
• EPS (TTM): 13.97
• Shares Outstanding: 19,896,000
• 10 Day Avg. Volume: 21,160
• 30 Day Avg. Volume: 26,406
• PEG Ratio: 18.82
• Price to Book (P/B): 1.84
• Price to Sales (P/S): 1.46
• P/FCF Ratio: 8.89
• 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: 64 Neutral
• Price Target: ¥1,815.00 ▲(2.66% Upside)

The score is driven primarily by strong revenue growth and solid profitability, offset by weak cash-flow conversion and some margin compression. Technicals are currently a drag (below key moving averages with negative MACD), while valuation and dividend yield provide support.

Positive Factors

Strong Revenue Growth

A sustained ~122% TTM revenue increase indicates meaningful demand expansion and successful client wins. For a consulting firm, that top‑line scale supports repeat engagements, enhances pricing leverage and cross‑sell opportunities, and creates a larger base for durable organic growth.

High Gross and Operating Margins

Very high gross margins and healthy operating margins reflect a high‑value, low‑capital consulting model with pricing power and scalable delivery. These structural margins enable reinvestment in talent, support dividend capacity, and buffer profitability through moderate revenue volatility.

Conservative Leverage and Attractive ROE

Low leverage (D/E ~0.19) combined with double‑digit ROE signals efficient capital use and financial prudence. This balance supports strategic flexibility for bolt‑on M&A or hiring while keeping interest burden limited, preserving resilience across business cycles.

Negative Factors

Weak Cash Conversion

OCF covering only ~30% of earnings and FCF decline (~-29%) point to worsening cash conversion driven by higher working‑capital needs or timing shifts. This reduces internal funding for growth, increases reliance on external financing, and elevates cash volatility across quarters.

Margin Compression

Noticeable fall in operating and net margins versus the prior annual period suggests weaker conversion of revenue into profit. If structural (higher SG&A, pricing pressure, or less efficient project mix), margin erosion could persist and limit free cash generation and reinvestment capacity.

Recent Increase in Debt

Raising debt from near‑zero reduces the firm's previously stronger financial flexibility. Even though absolute leverage remains moderate, higher debt amid weaker cash conversion heightens refinancing and interest risks and could constrain strategic options if revenue or margins weaken.

YAMADA Consulting Group Co., Ltd. Business Overview & Revenue Model

Company Description

YAMADA Consulting Group Co., Ltd. provides various consulting services in Japan and internationally. It offers sustainable growth consulting, business restructuring consulting, M&A Consulting, business succession consulting, people and organization consulting, corporate governance consulting, IT consulting, international business consulting, real estate consulting, education and training, and industry-specific consulting services. The company was formerly known as TFP Consulting Group Co., Ltd. and changed its name to YAMADA Consulting Group Co., Ltd. in December 2010. YAMADA Consulting Group Co., Ltd. was founded in 1989 and is headquartered in Tokyo, Japan.

How the Company Makes Money

YAMADA Consulting Group Co., Ltd. generates revenue primarily through its diverse portfolio of consulting services. The company's key revenue streams include fees from strategy and management consulting, where it advises businesses on optimizing their operational processes and strategic direction. Additionally, the company earns from financial advisory services, which encompass financial restructuring and capital strategy planning. YAMADA Consulting Group also makes money by providing support during mergers and acquisitions, earning fees for due diligence, valuation, and integration services. These services are often underpinned by long-term relationships with clients, which can lead to repeat business and ongoing consulting engagements.

YAMADA Consulting Group Co., Ltd. Financial Statement Overview

Summary

Strong TTM revenue growth (~122%) and solid profitability (gross margin ~80%, operating margin ~13%) support the score, but margin compression versus FY2025 and notably weaker cash conversion/free cash flow (OCF ~30% of earnings; FCF growth ~-29%) temper the overall financial quality.

Income Statement

TTM (Trailing-Twelve-Months) revenue is up strongly (growth rate ~122%), and profitability remains solid with high gross margin (~80%) and healthy operating margin (~13%). That said, margins have compressed versus the latest annual period (net margin ~9.6% TTM vs ~12.7% in FY2025; operating margin ~13.0% vs ~18.1%), indicating weaker conversion of revenue into profit recently despite the top-line jump.

Balance Sheet

Leverage looks manageable with low-to-moderate debt relative to equity (debt-to-equity ~0.19 TTM), and returns on equity remain attractive (~13% TTM; ~16–17% in the last couple of annual periods). The main watch-out is the increase in debt versus the prior year (from effectively no debt in FY2024 to higher levels more recently), which slightly reduces financial flexibility even though overall balance sheet strength remains good.

Cash Flow

Cash generation has weakened materially in TTM (Trailing-Twelve-Months): operating cash flow is low relative to earnings (about 30% coverage), and free cash flow declined sharply (growth ~-29%). While free cash flow still broadly tracks net income (free cash flow to net income ~0.86 TTM), the recent drop from very strong cash flow in FY2024–FY2025 suggests higher working-capital needs or less favorable cash timing, creating more volatility in cash conversion.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	24.00B	22.76B	22.18B	16.45B	14.65B	15.32B
Gross Profit	19.22B	19.42B	16.28B	14.15B	12.44B	11.86B
EBITDA	3.42B	4.42B	3.90B	3.09B	2.73B	2.13B
Net Income	2.30B	2.88B	2.86B	2.11B	1.72B	1.39B
Balance Sheet
Total Assets	25.83B	23.47B	20.76B	20.20B	18.42B	16.89B
Cash, Cash Equivalents and Short-Term Investments	17.93B	16.19B	12.89B	15.53B	14.46B	12.59B
Total Debt	3.60B	1.60B	0.00	2.50B	2.00B	2.00B
Total Liabilities	5.57B	4.89B	3.70B	5.19B	4.58B	4.16B
Stockholders Equity	18.47B	18.04B	16.64B	14.85B	13.67B	12.61B
Cash Flow
Free Cash Flow	1.43B	3.74B	3.65B	24.15M	105.91M	3.21B
Operating Cash Flow	1.65B	3.85B	3.81B	199.92M	217.10M	3.32B
Investing Cash Flow	275.78M	-793.21M	315.12M	-265.51M	-86.30M	23.93M
Financing Cash Flow	1.13B	87.67M	-3.76B	-523.05M	-765.21M	767.38M

YAMADA Consulting Group Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1768.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4792, the sentiment is Negative. The current price of 1768 is above the 20-day moving average (MA) of 1732.85, above the 50-day MA of 1750.56, and above the 200-day MA of 1708.35, indicating a bearish trend. The MACD of -21.49 indicates Positive momentum. The RSI at 29.81 is Positive, neither overbought nor oversold. The STOCH value of 14.43 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4792.

YAMADA Consulting Group Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9644	72 Outperform	¥24.63B	22.53	―	3.50%	15.91%	36.39%
9168	68 Neutral	¥12.85B	8.54	―	1.04%	23.25%	14.29%
4763	66 Neutral	¥33.26B	9.51	―	2.71%	4.27%	27.62%
7033	66 Neutral	¥20.27B	10.95	―	2.18%	17.87%	5.31%
4792	64 Neutral	¥31.89B	13.94	―	4.39%	2.46%	-31.77%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
9556	63 Neutral	¥30.53B	20.31	―	―	16.77%	39.98%

YAMADA Consulting Group Co., Ltd. Corporate Events

YAMADA Consulting Group Posts Higher Sales but Lower Profits, Signals Margin Pressure Ahead

YAMADA Consulting Group reported consolidated net sales of ¥18.3 billion for the nine months ended December 31, 2025, up 7.2% year on year, but saw sharp declines in profitability, with operating profit down 26.3% to ¥2.53 billion and profit attributable to owners of parent falling 25.7% to ¥1.68 billion, resulting in lower earnings per share. While the company maintains a solid financial position with a high equity ratio and plans to keep its full-year dividend at ¥77 per share, it forecasts a 14.2% rise in full-year sales to ¥26.0 billion alongside an 8.0% drop in operating profit, reflecting a shift in the investment business toward higher sales but thinner margins and rising personnel costs in the consulting segment as headcount and salaries increase, which may pressure short-term earnings even as the firm invests for longer-term growth.

The most recent analyst rating on (JP:4792) stock is a Buy with a Yen2123.00 price target. To see the full list of analyst forecasts on YAMADA Consulting Group Co., Ltd. stock, see the JP:4792 Stock Forecast page.

YAMADA Consulting to Acquire Manas Corporate Partners to Strengthen Indian Market Operations

YAMADA Consulting Group has entered into a share exchange agreement to make Manas Corporate Partners Corporation a wholly owned subsidiary. This move aims to bolster YAMADA Consulting’s M&A advisory capabilities in the expanding Indian market, leveraging Manas’s expertise and local network. The acquisition aligns with the company’s strategy to expand its global footprint and enhance value for its clientele, particularly Japanese companies seeking cross-border growth opportunities.

The most recent analyst rating on (JP:4792) stock is a Hold with a Yen1726.00 price target. To see the full list of analyst forecasts on YAMADA Consulting Group Co., Ltd. stock, see the JP:4792 Stock Forecast page.