Cyfuse Biomedical K.K. (4892) AI Stock Analysis

• Market Cap: ¥6.40B
• Dividend Yield: N/A
• Average Volume (3M): 50.89K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.69
• Revenue Growth: 56.17%
• EPS Growth: -11.63%
• Country: JP
• Employees: 21
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -25.83
• Shares Outstanding: 9,963,900
• 10 Day Avg. Volume: 43,580
• 30 Day Avg. Volume: 50,893
• PEG Ratio: -0.10
• Price to Book (P/B): 1.43
• Price to Sales (P/S): 66.83
• P/FCF Ratio: -4.73
• 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: 49 Neutral
• Price Target: ¥686.00 ▲(16.27% Upside)

The overall stock score of 49 reflects significant financial challenges, including declining revenue and persistent losses. Technical analysis indicates a bearish trend, and valuation metrics are unfavorable with a negative P/E ratio. These factors highlight the need for strategic improvements to enhance long-term viability.

Positive Factors

Proprietary Bio‑3D Printer (Kenzan)

Owning a differentiated scaffold-free bioprinting platform (Bio-3D/Kenzan) is a durable competitive advantage. A unique assembly method for multicellular spheroids can create high switching costs for customers, enable platform licensing, and support long-term R&D and therapeutic pipelines.

Focus on regenerative medicine & tissue engineering

A clear strategic focus on regenerative medicine and tissue engineering aligns the company with a structurally growing specialty area. Dedicated niche positioning supports deep technical expertise, targeted partnerships, and product-platform development that remain relevant across multi-year clinical and commercialization cycles.

Strong liquidity and moderate leverage

A high equity ratio and manageable leverage provide financial resilience. Significant cash balances and moderate debt reduce short-term refinancing risk, support ongoing R&D and clinical programs, and give management flexibility to pursue partnerships or capital-efficient growth over the coming months.

Negative Factors

Negative operating and free cash flow

Persistent negative operating and free cash flows indicate the business is not converting operations into sustainable cash. Over 2–6 months this pressures liquidity, forces reliance on external funding, and constrains investment in trials, manufacturing scale-up, or commercialization activities necessary for long-term value creation.

Declining revenue and margins

Material declines in revenue and gross margin signal weakening core economics and potential competitive or operational issues. Sustained margin erosion and negative net margins undermine reinvestment capacity, reduce ability to scale commercial operations, and raise the bar for achieving profitable, self-sustaining growth.

Eroding stockholders' equity

A multi-year decline in shareholders' equity reduces the capital buffer against adverse shocks and limits strategic flexibility. Over the medium term this can increase dilution risk from needed capital raises, tighten credit terms, and constrain the company's ability to fund clinical development or commercial expansion without external support.

Cyfuse Biomedical K.K. Business Overview & Revenue Model

Company Description

Cyfuse Biomedical K.K. engages in the development, manufacture, and sale of regenerative medicine products in Japan. It develops cellular products in the field of regenerative therapy; and undertakes contract for cellular products for research and development. The company also offers Bio 3D Printer for use in the regeneration of various tissues and organs, such as cartilage and bones, blood vessels, and nerves; regenova, a bio 3D printer for 3D stacking of cells; and S-PIKE that develops 3D-structures from cells. Cyfuse Biomedical K.K. was incorporated in 2010 and is based in Tokyo, Japan.

How the Company Makes Money

Cyfuse Biomedical K.K. generates revenue primarily through the sale of its 3D bioprinting systems and related bio-inks to hospitals, research institutions, and biotechnology companies. The company also engages in collaborative research and development projects with pharmaceutical firms, which provide additional funding and revenue through partnerships and joint ventures. Furthermore, Cyfuse may monetize its technology by licensing its intellectual property to other companies in the healthcare sector, contributing to its overall earnings. Grants and funding from governmental and private entities for research initiatives also play a role in supporting the company's financial stability.

Cyfuse Biomedical K.K. Financial Statement Overview

Summary

The company faces significant financial challenges with declining revenue, persistent losses, and negative cash flows. While the balance sheet shows strong liquidity and moderate leverage, the declining equity and persistent losses highlight the need for strategic realignment.

Income Statement

The company's income statement presents concerning trends with consistent negative net income and deteriorating revenue growth. The Gross Profit Margin has decreased from 52.8% in 2021 to 29.6% in 2024, indicating declining profitability. The Net Profit Margin is negative, reflecting substantial losses. Revenue has decreased significantly from 2021 to 2024, highlighting a challenging market position and potential operational issues. While there was a positive EBIT margin in 2021, it has turned negative in subsequent years, indicating worsening operational profitability.

Balance Sheet

The balance sheet shows a moderately strong equity position with an Equity Ratio of approximately 72.3% in 2024. However, the Debt-to-Equity Ratio remains manageable at 0.34, indicating moderate leverage. There is a consistent decline in Stockholders' Equity from 2021 to 2024, which may impact future financial stability. Despite these concerns, the company maintains a significant cash position, suggesting liquidity is not an immediate issue.

Cash Flow

The cash flow statement reflects negative operating cash flow in recent years, raising concerns about cash generation from core operations. The Free Cash Flow has also been negative, indicating cash outflow challenges. The Operating Cash Flow to Net Income Ratio and Free Cash Flow to Net Income Ratio are negative, underscoring inefficiencies in converting revenue into cash flow. While the company has maintained some liquidity, the negative trends in cash flow present long-term sustainability risks.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	65.42M	54.45M	61.11M	374.48M	708.25M	137.48M
Gross Profit	14.66M	16.45M	37.74M	241.50M	570.60M	67.02M
EBITDA	-795.37M	-824.22M	-538.29M	-410.21M	168.65M	-288.66M
Net Income	-827.52M	-872.24M	-589.21M	-473.96M	142.91M	-329.50M
Balance Sheet
Total Assets	3.23B	3.52B	4.21B	4.82B	2.65B	2.20B
Cash, Cash Equivalents and Short-Term Investments	2.70B	3.05B	3.87B	4.44B	2.41B	2.07B
Total Debt	766.00M	852.00M	913.00M	908.14M	569.06M	529.54M
Total Liabilities	901.89M	975.60M	1.01B	1.05B	746.12M	646.75M
Stockholders Equity	2.33B	2.54B	3.20B	3.77B	1.90B	1.55B
Cash Flow
Free Cash Flow	0.00	-769.10M	-581.77M	-631.87M	161.54M	-294.26M
Operating Cash Flow	0.00	-760.55M	-562.30M	-403.60M	161.54M	-294.00M
Investing Cash Flow	0.00	-8.64M	-19.47M	-430.67M	-50.58M	-264.00K
Financing Cash Flow	0.00	-52.01M	18.24M	2.66B	229.21M	488.90M

Cyfuse Biomedical K.K. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 590.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4892, the sentiment is Positive. The current price of 590 is below the 20-day moving average (MA) of 638.65, below the 50-day MA of 598.58, and below the 200-day MA of 707.97, indicating a neutral trend. The MACD of 18.84 indicates Positive momentum. The RSI at 56.24 is Neutral, neither overbought nor oversold. The STOCH value of 21.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4892.

Cyfuse Biomedical K.K. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4524	65 Neutral	¥9.12B	15.74	―	2.55%	3.23%	42.87%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
4892	49 Neutral	¥6.40B	-6.40	―	―	56.17%	-11.63%
4586	44 Neutral	¥6.89B	-4.56	―	―	-52.41%	-80.31%
4597	43 Neutral	¥7.53B	-3.46	-90.96%	―	243.16%	-23.00%
4582	42 Neutral	¥5.12B	-0.90	―	―	-50.27%	-3.33%
4883	42 Neutral	¥5.20B	-2.17	―	―	―	47.43%