Space Shower Skiyaki Holdings Inc. (4838) AI Stock Analysis

• Market Cap: ¥13.50B
• Dividend Yield: 1.84%
• Average Volume (3M): 115.40K
• Price to Earnings (P/E): 17.5
• Beta (1Y): 0.49
• Revenue Growth: 22.56%
• EPS Growth: 1669.86%
• Country: JP
• Employees: 238
• Sector: Communication Services
• Sector Strength: 97
• Industry: Broadcasting
• EPS (TTM): 27.68
• Shares Outstanding: 17,029,205
• 10 Day Avg. Volume: 258,420
• 30 Day Avg. Volume: 115,400
• PEG Ratio: -0.56
• Price to Book (P/B): 0.98
• Price to Sales (P/S): 0.38
• P/FCF Ratio: 10.62
• 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: 62 Neutral
• Price Target: ¥864.00 ▲(10.63% Upside)

The overall stock score of 62 reflects a combination of solid financial performance and moderate valuation, offset by bearish technical indicators. The company's strong financial foundation and reasonable valuation are positive factors, but the current negative market momentum and technical trends present challenges. The absence of recent earnings call insights or notable corporate events leaves the financial and technical analysis as the primary influences on the score.

Positive Factors

Low leverage and strong equity position

A very low leverage profile and ¥8.0bn of equity with a 50.2% equity ratio provide durable financial flexibility. This reduces solvency risk, supports investment in content and live events, and preserves optionality for M&A or share returns without stressing cashflows.

Sustained revenue growth across businesses

Multi-year revenue expansion reflects successful scaling of music media, events and digital/artist services. Diversified revenue streams reduce single-channel risk, support cross-selling, and provide a broader base for long-term margin improvements and recurring digital monetization.

Consistent operating cash flow and multi-year FCF

Steady OCF and multi-year positive free cash flow indicate reliable cash generation to fund content, capex, dividends or strategic investments. Even with some FCF growth variability, sustained cash conversion underpins capital allocation and resilience to industry cycles.

Negative Factors

Low and volatile net profitability

Very low and inconsistent net margins limit the firm's ability to translate revenue growth into durable shareholder returns. Profit volatility suggests earnings sensitivity to event costs, content rights and one-offs, complicating forecasting and long-term reinvestment planning.

Modest return on equity

A ROE of 3.6% signals the company is not yet efficiently converting its growing equity base into profits. Persistently low ROE can constrain dividend growth and indicates a need for strategic moves to raise asset efficiency or profitability to justify capital intensity.

Thin operating margins

Low operating margins suggest limited pricing power and significant fixed or content-related costs. Thin margins reduce buffer against cost inflation and competition, making profits and cash generation more sensitive to revenue swings and challenging sustained investment returns.

Space Shower Skiyaki Holdings Inc. Business Overview & Revenue Model

Company Description

Space Shower Skiyaki Holdings Inc., a music entertainment company, develops various media and content businesses in Japan. The company offers artist management, music labels, digital music distribution services, and video production contents. It also engages in the planning and management of live events, live house management, and entertainment café business, as well as operates music channels. The company was formerly known as Space Shower Networks Inc. and changed its name to Space Shower Skiyaki Holdings Inc. in April 2024. The company founded in 1989 and is headquartered in Tokyo, Japan.

How the Company Makes Money

The company generates revenue through multiple streams, including subscription fees from its music streaming services, licensing fees from music distribution, and ticket sales from live events. A significant portion of its income comes from partnerships with various artists, record labels, and media outlets, allowing it to monetize content through advertising and promotional collaborations. Additionally, the company may benefit from merchandise sales related to live events and artist promotions, further diversifying its revenue sources.

Space Shower Skiyaki Holdings Inc. Financial Statement Overview

Summary

Space Shower Skiyaki Holdings Inc. has demonstrated solid revenue growth and financial stability, with improving profitability margins and a strong balance sheet. The company's low leverage and substantial cash reserves provide a robust financial foundation. While cash flow metrics are generally strong, inconsistencies in net income and free cash flow growth suggest some areas for operational improvement.

Income Statement

The company has shown impressive revenue growth over the past five years, with a notable increase in total revenue from ¥11.8 billion in 2021 to ¥20.6 billion in 2025. Gross profit margins have improved consistently, reaching 26.5% in 2025. The net profit margin has been volatile but showed positive trends, reaching 1.4% in 2025. The EBIT and EBITDA margins indicate improving operational efficiency, with EBIT turning positive and EBITDA margin reaching 5.2% in 2025. However, net income has been inconsistent, highlighting some profitability challenges.

Balance Sheet

The balance sheet reflects a solid financial position with increasing stockholders' equity, reaching ¥8.0 billion in 2025. The debt-to-equity ratio is very low, indicating minimal leverage risk, and the company has a healthy equity ratio of 50.2% as of 2025. The company maintains substantial cash reserves, contributing to its financial stability. The return on equity is modest at 3.6% in 2025, indicating room for improvement in profitability.

Cash Flow

Operating cash flow has shown a positive trend, increasing to ¥1.3 billion in 2025. Free cash flow generation is strong, with a positive free cash flow for the last four years. However, the free cash flow growth rate has varied, with a slight decline in 2025. The operating cash flow to net income ratio indicates efficient conversion of earnings to cash. Despite strong cash flow metrics, some fluctuations in free cash flow growth could pose challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	21.37B	20.64B	16.36B	15.38B	13.86B	11.77B
Gross Profit	5.95B	5.47B	3.07B	2.47B	2.76B	2.44B
EBITDA	1.61B	1.08B	808.84M	867.86M	781.45M	265.79M
Net Income	480.47M	287.56M	280.17M	348.26M	573.60M	-210.81M
Balance Sheet
Total Assets	15.24B	15.96B	8.16B	7.80B	7.26B	7.16B
Cash, Cash Equivalents and Short-Term Investments	5.59B	6.49B	3.12B	2.67B	2.00B	2.83B
Total Debt	50.59M	67.48M	1.82M	8.64M	37.25M	46.70M
Total Liabilities	7.11B	7.88B	4.22B	4.11B	3.90B	3.07B
Stockholders Equity	8.05B	8.02B	3.93B	3.69B	3.36B	4.07B
Cash Flow
Free Cash Flow	0.00	738.97M	781.21M	558.07M	466.20M	138.97M
Operating Cash Flow	0.00	1.31B	1.16B	891.61M	845.81M	347.46M
Investing Cash Flow	0.00	-640.15M	-609.55M	-124.14M	-308.98M	19.82M
Financing Cash Flow	0.00	-352.44M	-90.43M	-97.72M	-1.36B	-107.23M

Space Shower Skiyaki Holdings Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 781.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4838, the sentiment is Positive. The current price of 781 is below the 20-day moving average (MA) of 783.10, above the 50-day MA of 753.32, and above the 200-day MA of 703.42, indicating a bullish trend. The MACD of 12.87 indicates Negative momentum. The RSI at 62.00 is Neutral, neither overbought nor oversold. The STOCH value of 65.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4838.

Space Shower Skiyaki Holdings Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9405	74 Outperform	¥34.47B	6.08	―	1.67%	7.33%	―
9413	69 Neutral	¥125.53B	13.17	―	1.71%	7.01%	72.94%
9414	68 Neutral	¥16.78B	13.53	―	3.04%	-3.50%	-7.58%
9409	64 Neutral	¥363.46B	11.06	7.18%	1.79%	6.63%	80.44%
4838	62 Neutral	¥13.50B	17.46	―	1.84%	22.56%	1669.86%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
4839	57 Neutral	¥38.60B	12.80	―	2.17%	1.78%	1067.85%