I-ne CO., LTD. (4933) AI Stock Analysis

• Market Cap: ¥24.43B
• Dividend Yield: 0.91%
• Average Volume (3M): 104.50K
• Price to Earnings (P/E): 9.7
• Beta (1Y): 0.91
• Revenue Growth: 13.12%
• EPS Growth: 27.53%
• Country: JP
• Employees: 434
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Household & Personal Products
• EPS (TTM): 10.43
• Shares Outstanding: 17,791,270
• 10 Day Avg. Volume: 94,830
• 30 Day Avg. Volume: 104,500
• PEG Ratio: -0.46
• Price to Book (P/B): 2.10
• Price to Sales (P/S): 0.77
• P/FCF Ratio: -104.75
• 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: 71 Outperform
• Price Target: ¥1,717.00 ▲(29.29% Upside)

The overall stock score reflects strong valuation metrics, with the stock appearing undervalued and offering a reasonable dividend yield. However, financial performance concerns, particularly around profitability and liquidity, weigh on the score. Technical indicators suggest potential overbought conditions, which could impact short-term price movements.

Positive Factors

Revenue Growth

The company's consistent revenue growth indicates a robust demand for its products, enhancing its market position and potential for future expansion.

Gross Profit Margin

A high gross profit margin reflects strong cost control and pricing power, which can support sustainable profitability over time.

Product Innovation

Continued focus on product innovation and natural ingredients can drive brand loyalty and differentiate the company in the competitive personal care market.

Negative Factors

Negative Free Cash Flow

Negative free cash flow suggests potential liquidity issues, limiting the company's ability to invest in growth or weather economic downturns.

Increased Leverage

Increased leverage can strain financial flexibility and increase vulnerability to interest rate hikes, impacting long-term financial stability.

Decline in Net Profit Margin

A declining net profit margin highlights challenges in maintaining profitability, which could affect the company's ability to reinvest in growth initiatives.

I-ne CO., LTD. Business Overview & Revenue Model

Company Description

I-ne CO., LTD. engages in the planning, development, operation, manufacturing, and sale of cosmetics, beauty appliances, and other beauty-related products in Japan. It offers a range of products for haircare, skin care, beauty devices, pre-makeup, night haircare, gray hair dye, pre-skincare, and eye makeup products under BOTANIST, SALONIA, DROAS, Yolu, Tearal, Aquall, awairo, mythm, WrinkFade, curuput, Salanaru, and CAROME brand names. The company is also involved in the planning, administration, and management of retail shops; planning, development, and sale of daily necessities and healthcare-related products; and e-commerce business. I-ne CO., LTD. was incorporated in 2007 and is headquartered in Osaka, Japan.

How the Company Makes Money

I-ne CO., LTD. generates revenue primarily through the sale of its skincare and cosmetics products. The company markets its products through various channels, including online sales, retail partnerships, and direct-to-consumer platforms. Key revenue streams include both domestic sales within Japan and international exports. I-ne may also engage in partnerships with beauty retailers and e-commerce platforms to expand its market reach. Additionally, the company invests in research and development to create new products, which can lead to increased sales and enhanced brand loyalty, contributing further to its earnings.

I-ne CO., LTD. Financial Statement Overview

Summary

I-ne CO., LTD. shows strong revenue growth and gross profit margins, but faces challenges with declining net margins and increased leverage. The negative free cash flow indicates potential liquidity issues, necessitating a focus on improving net income and cash flow generation.

Income Statement

I-ne CO., LTD. has demonstrated strong revenue growth with a notable increase from 41.64 billion JPY in 2023 to 45.01 billion JPY in 2024, reflecting a growth rate of 8.6%. The gross profit margin stands at 53.4%, indicating efficient cost management. However, the net profit margin decreased to 6.5%, down from 9.5% in the previous year, highlighting a need for improved profitability management.

Balance Sheet

The company's balance sheet shows a healthy equity ratio of 47.1% in 2024, down from 62.6% in 2023, suggesting increased leverage. The debt-to-equity ratio rose significantly to 0.61 from 0.004, indicating higher financial risk. Return on equity fell to 17.8% from 27.6%, impacted by the decline in net income.

Cash Flow

Cash flow analysis reveals challenges with free cash flow turning negative to -332 million JPY in 2024 from a positive 903 million JPY in 2023. The operating cash flow to net income ratio is low at 0.01, suggesting difficulties in converting profits into cash. The free cash flow to net income ratio reflects a negative trend, highlighting potential liquidity issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	47.02B	45.01B	41.64B	35.27B	28.31B	23.28B
Gross Profit	26.05B	24.05B	22.24B	18.30B	15.05B	11.12B
EBITDA	4.79B	4.86B	7.07B	3.70B	2.54B	1.54B
Net Income	2.62B	2.94B	3.95B	1.93B	1.24B	905.00M
Balance Sheet
Total Assets	35.70B	35.12B	22.91B	16.49B	14.06B	13.16B
Cash, Cash Equivalents and Short-Term Investments	7.79B	8.39B	8.99B	5.48B	6.80B	7.27B
Total Debt	7.29B	10.02B	59.00M	194.00M	853.00M	2.00B
Total Liabilities	16.98B	18.58B	8.58B	6.16B	5.65B	6.23B
Stockholders Equity	17.38B	16.54B	14.33B	10.33B	8.41B	6.93B
Cash Flow
Free Cash Flow	2.44B	-332.00M	903.00M	-742.00M	482.00M	2.57B
Operating Cash Flow	2.56B	38.00M	1.24B	1.24B	573.00M	2.74B
Investing Cash Flow	817.00M	-10.36B	2.48B	-1.97B	-118.00M	-41.00M
Financing Cash Flow	-2.96B	9.23B	-156.00M	-666.00M	-739.00M	2.21B

I-ne CO., LTD. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1328.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4933, the sentiment is Neutral. The current price of 1328 is below the 20-day moving average (MA) of 1355.31, below the 50-day MA of 1384.26, and below the 200-day MA of 1504.06, indicating a neutral trend. The MACD of -2.52 indicates Negative momentum. The RSI at 50.69 is Neutral, neither overbought nor oversold. The STOCH value of 80.60 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:4933.

I-ne CO., LTD. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4933	71 Outperform	¥24.43B	9.73	―	0.91%	13.12%	27.53%
4932	68 Neutral	¥11.46B	36.97	―	5.92%	22.86%	-32.11%
4923	66 Neutral	¥34.14B	24.48	―	1.81%	0.22%	4.15%
4925	63 Neutral	¥6.58B	8.43	―	2.38%	-0.79%	―
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
4926	58 Neutral	¥5.33B	17.04	―	1.68%	8.46%	―
4934	52 Neutral	¥6.21B	13.45	―	―	-19.42%	―

I-ne CO., LTD. Corporate Events

I-ne Outlines Ongoing Shareholder Benefit Program and Push for More Individual Investors

I-ne Co., Ltd. has clarified that the shareholder benefit program it expanded in November 2025 is intended to be an ongoing initiative rather than a one-off measure, and it will continue to review shareholder return policies to enhance the investment appeal of its stock and corporate value. The company explained that the program’s expansion is aimed at increasing the proportion of individual shareholders—historically low because its Prime Market transition public offering was largely limited to institutional investors—and at improving share liquidity, signaling a strategic push to broaden its investor base and deepen market engagement.

The most recent analyst rating on (JP:4933) stock is a Buy with a Yen1717.00 price target. To see the full list of analyst forecasts on I-ne CO., LTD. stock, see the JP:4933 Stock Forecast page.

I-ne Co., Ltd. Announces Changes to Merger Plans with Endeavour Inc.

I-ne Co., Ltd. announced changes to the effective date and details of an absorption-type merger with its wholly-owned subsidiary, Endeavour Inc. The merger’s effective date has been postponed to June 1, 2026, and the amount of claims to be waived has increased to 1,250 million yen. These changes are due to extended paperwork and procedural requirements. The financial impact on I-ne’s consolidated performance is expected to be minimal, although an extraordinary loss will be recorded in the non-consolidated financial results for the fiscal year ending December 2025.

The most recent analyst rating on (JP:4933) stock is a Buy with a Yen1717.00 price target. To see the full list of analyst forecasts on I-ne CO., LTD. stock, see the JP:4933 Stock Forecast page.

I-ne Co., Ltd. Announces Increase in Year-End Dividend Forecast

I-ne Co., Ltd. has announced an increase in its year-end dividend forecast for the fiscal year ending December 2025, reflecting its strategy to enhance shareholder returns while maintaining a balance with reinvestment and retained earnings. This decision underscores the company’s commitment to delivering value to shareholders and could potentially strengthen its market position by attracting more investors.

The most recent analyst rating on (JP:4933) stock is a Hold with a Yen1400.00 price target. To see the full list of analyst forecasts on I-ne CO., LTD. stock, see the JP:4933 Stock Forecast page.

I-ne Co., Ltd. Enhances Shareholder Benefits Program

I-ne Co., Ltd. announced an enhancement to its shareholder benefits program, aiming to increase the attractiveness of its stock and encourage long-term investment. The revised program, effective December 31, 2025, will significantly increase the value of digital gift points awarded to shareholders, potentially boosting shareholder engagement and investment appeal.

The most recent analyst rating on (JP:4933) stock is a Hold with a Yen1400.00 price target. To see the full list of analyst forecasts on I-ne CO., LTD. stock, see the JP:4933 Stock Forecast page.

I-ne Co., Ltd. Announces Strategic Merger with Endeavour Inc.

I-ne Co., Ltd. has announced a strategic absorption-type merger of its wholly-owned subsidiary, Endeavour Inc., effective December 1, 2025. This merger aims to leverage Endeavour’s successful brand development model across the entire group, enhancing competitiveness and corporate value in the medium to long term. The company will waive claims against Endeavour to resolve its insolvency prior to the merger, which will help optimize resource allocation and accelerate decision-making, ultimately strengthening the group’s management structure and talent development.

The most recent analyst rating on (JP:4933) stock is a Hold with a Yen1753.00 price target. To see the full list of analyst forecasts on I-ne CO., LTD. stock, see the JP:4933 Stock Forecast page.