moi Corp. (5031) AI Stock Analysis

• Market Cap: ¥4.37B
• Dividend Yield: N/A
• Average Volume (3M): 123.20K
• Price to Earnings (P/E): 583.4
• Beta (1Y): 0.93
• Revenue Growth: 1.26%
• EPS Growth: -96.90%
• Country: JP
• Employees: 42
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 4.72
• Shares Outstanding: 13,966,000
• 10 Day Avg. Volume: 14,900
• 30 Day Avg. Volume: 123,196
• PEG Ratio: -1.41
• Price to Book (P/B): 1.80
• Price to Sales (P/S): 0.51
• P/FCF Ratio: 4.71
• 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: ¥339.00 ▼(-1.17% Downside)
• Action: Upgraded Date: 12/30/25
• Date: Action: Upgraded 12/30/25

The score is driven primarily by strong technical momentum and a solid financial foundation (notably a near debt-free balance sheet and resilient gross margins). These positives are tempered by highly expensive valuation (very high P/E) and volatility in profitability and cash-flow consistency.

Positive Factors

Balance sheet strength

An essentially debt-free balance sheet provides durable financial flexibility: it lowers solvency risk, enables funding of R&D, capital expenditures or M&A from internal resources, and offers recession resilience without reliance on external refinancing.

High gross margins

Sustained ~49–51% gross margins indicate strong product economics and pricing power for an application software business. This structural margin supports operating leverage as revenue scales, enabling durable reinvestment in sales and product development.

Consistent revenue growth

Meaningful, accelerating revenue growth and a strong 2025 uptick signal rising market adoption and scale. Durable top-line expansion enhances optionality for geographic or product expansion and improves the potential for sustained margin recovery over time.

Negative Factors

Profitability volatility

Sharp compression in net margin and a history of loss years show earnings are highly variable. This undermines predictability of cash earnings, constrains strategic reinvestment, and raises risk if revenue growth slows or costs increase over the medium term.

Inconsistent cash generation

Intermittent negative operating and free cash flow despite recent improvement indicates cash generation is not yet durable. This elevates working-capital and execution risk and limits reliable self-funding of growth or shareholder returns without taking on leverage.

Returns volatility / limited cushion

Volatile ROE and a modest operating margin (~3.5% in 2025) imply limited buffer to absorb demand or cost shocks. This inconsistency complicates capital allocation, may hinder sustained investment in competitive advantages, and weakens long-term shareholder return predictability.

moi Corp. Business Overview & Revenue Model

Company Description

Moi Corporation provides live streaming platform service solutions in Japan. It offers TwitCasting, a live broadcasting service to broadcast live online using only a single smartphone device; TwitCasting Games, a gameplay broadcasting app; and Membership STAR, a fan community. The company was incorporated in 2012 and is headquartered in Tokyo, Japan.

How the Company Makes Money

moi Corp. Financial Statement Overview

Summary

Financial stability is supported by an essentially debt-free balance sheet (high solvency flexibility) and solid gross margins (~49–51%) alongside meaningful revenue growth. Offsetting this, profitability and returns are volatile, with net margin compressing to ~0.4% in 2025 and cash flow showing historical inconsistency (notably negative in 2020 and 2023).

Income Statement

Revenue has grown meaningfully over the period, with a very strong jump in 2025 (annual) growth, and gross margin has stayed solid around ~49–51%, suggesting a resilient product economics profile. However, profitability is volatile: net margin fell sharply to ~0.4% in 2025 (annual) from ~3.0% in 2024 (annual), and the company has a history of losses (2020–2021). Operating profitability improved versus earlier years but remains modest (EBIT margin ~3.5% in 2025), indicating limited cushion if costs rise or growth slows.

Balance Sheet

The balance sheet is a clear strength: debt is essentially zero across all years, and the debt-to-equity ratio is near nil, providing substantial financial flexibility and low solvency risk. Equity and total assets have expanded steadily over time, supporting a stronger capital base. The main weakness is return on equity volatility—very strong in 2022 and 2024 but dropping to low levels in 2025—consistent with the recent compression in net income.

Cash Flow

Cash generation is generally supportive, with positive operating cash flow and free cash flow in 2024 and 2025 (annual), and particularly strong free cash flow in 2025. That said, cash flow has been inconsistent historically (negative operating cash flow and free cash flow in 2023 and negative operating cash flow in 2020), which raises execution and working-capital volatility risk. Free cash flow relative to net income looks strong in most profitable years, but the sharp drop in earnings in 2025 means cash flow durability should be watched.

Breakdown	TTM	Jan 2025	Jan 2024	Jan 2023	Jan 2022	Jan 2021
Income Statement
Total Revenue	6.63B	6.59B	6.43B	6.61B	6.55B	5.48B
Gross Profit	3.39B	3.36B	3.21B	3.30B	3.24B	2.68B
EBITDA	323.21M	293.00M	225.00M	189.11M	247.45M	-111.64M
Net Income	-15.12M	27.83M	194.10M	53.42M	246.65M	-146.62M
Balance Sheet
Total Assets	4.18B	4.14B	3.68B	3.38B	2.64B	2.09B
Cash, Cash Equivalents and Short-Term Investments	2.98B	2.98B	2.26B	1.75B	1.31B	899.13M
Total Debt	0.00	0.00	110.00K	230.00K	350.00K	470.00K
Total Liabilities	2.24B	2.27B	1.84B	1.74B	1.69B	1.39B
Stockholders Equity	1.94B	1.87B	1.84B	1.64B	946.57M	699.92M
Cash Flow
Free Cash Flow	0.00	714.36M	476.12M	-150.69M	369.27M	25.38M
Operating Cash Flow	0.00	765.61M	479.03M	-8.06M	512.57M	114.16M
Investing Cash Flow	0.00	-41.34M	-6.79M	-163.03M	-193.92M	-90.89M
Financing Cash Flow	0.00	-110.00K	11.15M	638.58M	-120.00K	-110.00K

moi Corp. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 343.00
• 50DMA: Negative
• 100DMA: Positive
• 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:5031, the sentiment is Positive. The current price of 343 is above the 20-day moving average (MA) of 304.75, above the 50-day MA of 332.02, and above the 200-day MA of 273.90, indicating a neutral trend. The MACD of -5.18 indicates Negative momentum. The RSI at 49.09 is Neutral, neither overbought nor oversold. The STOCH value of 25.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:5031.

moi Corp. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5031	71 Outperform	¥4.37B	583.41	―	―	1.26%	-96.90%
3917	66 Neutral	¥4.89B	7.98	―	―	7.40%	―
5033	66 Neutral	¥4.93B	13.38	―	―	7.60%	19.13%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
4448	58 Neutral	¥13.02B	60.03	―	―	14.63%	-760.87%
5027	49 Neutral	¥31.62B	33.52	―	―	20.84%	10.41%
3936	48 Neutral	¥5.08B	75.16	―	―	33.73%	―