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Fullcast Holdings Co., Ltd.
(4848)
Select Model
Select Model
Rating:59Neutral
Price Target:
¥1,713.00
▲(3.44% Upside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by weak 2025 cash generation and poorer cash conversion alongside higher leverage, despite healthy profitability and a return to revenue growth. Technical indicators are neutral-to-mixed, while valuation is a clear positive with a reasonable P/E and strong dividend yield.
Positive Factors
Revenue rebound / demand resilience
A clear return to revenue growth in 2025 indicates underlying demand resilience in staffing services. Durable top-line momentum supports scale economics, better utilization of fixed costs and the ability to invest in client relationships and recruiting, strengthening medium-term growth optionality.
Negative Factors
Material weakening in cash generation
A sharp decline in operating and free cash flow in 2025 means earnings are not converting to cash reliably. This raises execution risk, constrains organic reinvestment and working-capital funding, and makes the company more dependent on external financing to sustain operations and service debt over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound / demand resilience
A clear return to revenue growth in 2025 indicates underlying demand resilience in staffing services. Durable top-line momentum supports scale economics, better utilization of fixed costs and the ability to invest in client relationships and recruiting, strengthening medium-term growth optionality.
Read all positive factors
Fullcast Holdings Co., Ltd. (4848) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥60.24B
Dividend Yield3.7%
Average Volume (3M)47.35K
Price to Earnings (P/E)12.4
Beta (1Y)0.50
Revenue Growth25.14%
EPS Growth5.40%
CountryJP
Employees1,515
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)139.44
Shares Outstanding35,215,450
10 Day Avg. Volume47,360
30 Day Avg. Volume47,353
Financial Highlights & Ratios
PEG Ratio-1.00
Price to Book (P/B)1.89
Price to Sales (P/S)0.76
P/FCF Ratio69.09
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)156.1
Revenue Forecast (FY)¥104.70B
Fullcast Holdings Co., Ltd. Business Overview & Revenue Model
Company Description
Established in Tokyo, Japan, in 1990, Fullcast Holdings Co., Ltd. delivers a diverse range of human resource and business solutions throughout the country. The company's operations are structured into three main divisions: Short-Term Operational S...
How the Company Makes Money
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Fullcast Holdings Co., Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
64
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 85.16B | 77.23B | 68.56B | 68.97B | 64.64B | 52.37B |
| Gross Profit | 27.12B | 25.28B | 24.52B | 23.01B | 21.46B | 18.03B |
| EBITDA | 9.27B | 9.12B | 9.60B | 9.83B | 10.32B | 8.06B |
| Net Income | 4.87B | 4.78B | 5.49B | 5.89B | 6.62B | 5.01B |
Balance Sheet | ||||||
| Total Assets | 59.60B | 58.21B | 41.52B | 39.09B | 35.60B | 29.48B |
| Cash, Cash Equivalents and Short-Term Investments | 19.53B | 21.09B | 17.53B | 14.47B | 20.63B | 17.41B |
| Total Debt | 14.71B | 12.22B | 1.00B | 1.01B | 1.00B | 1.00B |
| Total Liabilities | 26.76B | 25.55B | 12.65B | 12.31B | 10.68B | 8.91B |
| Stockholders Equity | 31.02B | 30.86B | 28.87B | 25.60B | 23.88B | 19.66B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 844.00M | 5.08B | 4.86B | 6.51B | 6.19B |
| Operating Cash Flow | 0.00 | 1.36B | 5.76B | 5.16B | 6.80B | 6.37B |
| Investing Cash Flow | 0.00 | -6.04B | 175.00M | -6.37B | -958.00M | -99.00M |
| Financing Cash Flow | 0.00 | 6.16B | -2.87B | -4.95B | -2.62B | -2.17B |
Fullcast Holdings Co., Ltd. Technical Analysis
Positive
1656.00
Price Trends
1573.76
Positive
1584.59
Positive
1609.67
Positive
Market Momentum
29.02
Positive
57.26
Neutral
18.19
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4848, the sentiment is Positive. The current price of 1656 is below the 20-day moving average (MA) of 1668.50, above the 50-day MA of 1573.76, and above the 200-day MA of 1609.67, indicating a bullish trend. The MACD of 29.02 indicates Positive momentum. The RSI at 57.26 is Neutral, neither overbought nor oversold. The STOCH value of 18.19 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4848.
Fullcast Holdings Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ¥155.15B | 16.50 | ― | 2.38% | 15.54% | 40.98% | |
79 Outperform | ¥17.04T | 35.82 | 33.09% | 0.21% | 3.93% | 29.07% | |
69 Neutral | ¥599.43B | 13.69 | 20.65% | 4.42% | 7.21% | 20.06% | |
69 Neutral | ¥110.70B | 14.87 | ― | 7.51% | -14.32% | -17.67% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | ¥60.24B | 12.39 | ― | 3.66% | 25.14% | 5.40% | |
46 Neutral | ¥58.39B | -17.20 | -2.64% | 0.77% | -0.24% | 59.33% |
* Industrials Sector Average
JP:4848
Fullcast Holdings Co., Ltd.
1,680.00
6.66
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11.67%
Fullcast Holdings Co., Ltd. Corporate Events
Fullcast Finalizes Full Acquisition of RGF Talent Solutions Units
Jun 26, 2026
Fullcast Holdings Co., Ltd., a TSE Prime Market-listed provider of human resources and staffing services, is pursuing growth through the acquisition of recruitment-focused businesses in Japan and abroad. The company aims to deepen its capabilities...
Fullcast Outlines Structure of Q1 FY2026 Consolidated Results Disclosure
May 15, 2026
Fullcast Holdings has released an outline of its consolidated business results for the first quarter of the fiscal year ending December 2026, covering the period from January to March. The document indicates that management focuses on consolidated...
Fullcast’s Q1 Sales Surge on Expansion as Profit Outlook and Dividends Hold Firm
May 15, 2026
Fullcast Holdings reported a sharp 47.7% year-on-year jump in first-quarter net sales to ¥24.56 billion for the period ended March 31, 2026, driven partly by the consolidation of newly added subsidiary ENTRY, Inc., while operating and ordinar...
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.