moi Corp. (5031) AI Stock Analysis

• Market Cap: ¥4.16B
• Dividend Yield: N/A
• Average Volume (3M): 123.20K
• Price to Earnings (P/E): 39.8
• Beta (1Y): 0.81
• Revenue Growth: 1.26%
• EPS Growth: -96.90%
• Country: JP
• Employees: 42
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): N/A
• Shares Outstanding: 13,966,000
• 10 Day Avg. Volume: 14,900
• 30 Day Avg. Volume: 123,196
• PEG Ratio: 0.15
• Price to Book (P/B): 2.05
• Price to Sales (P/S): 0.61
• P/FCF Ratio: 64.10
• 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: 61 Neutral
• Price Target: ¥333.00 ▼(-2.92% Downside)
• Action: Downgraded Date: 03/13/26
• Date: Action: Downgraded 03/13/26

The score is primarily supported by a very conservative balance sheet and solid gross profitability, but held back by inconsistent cash generation (notably the latest operating cash flow drop) and a high P/E valuation. Technical indicators are mixed and do not provide strong momentum support.

Positive Factors

Conservative balance sheet (no debt)

Near-zero debt materially reduces financial risk and gives durable financial flexibility. Over a multi-month horizon this supports funding R&D, absorbing demand shocks without refinancing, and preserves optionality for opportunistic M&A or share-holder returns when cash generation stabilizes.

Consistently strong gross margins (~49–51%)

Sustained ~50% gross margins indicate structural pricing power and favorable unit economics. This margin cushion supports investment in sales and product development while allowing the company to absorb operating cost variability and still potentially scale operating profit as revenue grows.

Recent revenue re-acceleration and margin improvement

A sharp revenue re-acceleration with rising EBIT margin suggests renewed product-market traction and early evidence of operating leverage. If sustained, this trend can convert high gross margins into durable operating profits and fund reinvestment without reliance on external capital.

Negative Factors

Highly volatile operating cash flow

Severe year-to-year swings in OCF undermine cash conversion reliability. For planning and capital allocation, inconsistent cash flow raises the risk that the firm cannot sustainably fund growth investments, dividends, or buybacks without drawing on reserves or new financing.

Inconsistent profitability and earnings quality

Volatile net income and episodic losses indicate earnings are not yet predictable or fully scalable. This limits management's ability to commit to long-term investments, complicates incentive alignment, and raises execution risk for converting revenue growth into steady, repeatable profits.

Uneven shareholder returns / fluctuating ROE

Widening swings in ROE signal unstable returns on invested capital. Over a medium-term horizon this can impair investor confidence, reduce the attractiveness of reinvestment, and make it harder to justify capital allocation decisions if the company cannot demonstrate consistent value generation.

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.

moi Corp. Financial Statement Overview

Summary

Strong balance sheet with effectively no debt (high financial flexibility) and consistently solid gross margins (~49–51%). Offsetting this, profitability has been volatile over time and operating cash flow fell sharply in the latest year (2026 OCF ~¥66M vs ~¥766M in 2025), reducing confidence in durable earnings quality.

Income Statement

Revenue has been largely stable over the last several years with a sharp re-acceleration in the latest annual period (2026 revenue growth of ~89% after low-to-negative growth previously). Profitability improved versus 2025 (net margin ~1.5% vs ~0.4%; EBIT margin ~5.1% vs ~3.5%), and gross margins have been consistently strong around ~49–51%. Offsetting this, bottom-line performance has been volatile (including losses in 2021 and a meaningfully higher net margin in 2022–2024 than in 2025–2026), suggesting earnings quality and cost structure are not yet consistently scalable.

Balance Sheet

The balance sheet is very conservatively financed with effectively no debt (debt-to-equity near zero across periods), which materially reduces financial risk and adds flexibility. Equity has grown strongly from 2021 to 2026 (roughly ¥0.7B to ~¥2.0B), and assets have expanded alongside the business. The main weakness is uneven shareholder returns: return on equity has fluctuated widely (very strong in 2022, weaker in 2025–2026), reflecting inconsistent profitability rather than balance-sheet strain.

Cash Flow

Free cash flow has often tracked reported earnings reasonably well (free cash flow close to net income in 2024–2026), but cash generation is highly volatile year-to-year. After strong operating and free cash flow in 2022–2025, the latest year shows a sharp drop in operating cash flow (~¥66M in 2026 vs ~¥766M in 2025), which materially weakens cash conversion and raises questions about working-capital or timing effects. Earlier periods also included negative operating/free cash flow (2023), reinforcing the inconsistency.

Breakdown	TTM	Jan 2026	Jan 2025	Jan 2024	Jan 2023	Jan 2022
Income Statement
Total Revenue	6.63B	6.69B	6.59B	6.43B	6.61B	6.55B
Gross Profit	3.39B	3.35B	3.36B	3.21B	3.30B	3.24B
EBITDA	305.24M	395.86M	292.13M	225.21M	189.11M	247.45M
Net Income	-15.03M	101.69M	27.83M	194.10M	53.42M	246.65M
Balance Sheet
Total Assets	4.18B	4.25B	4.14B	3.68B	3.38B	2.64B
Cash, Cash Equivalents and Short-Term Investments	2.98B	2.98B	2.98B	2.26B	1.78B	1.31B
Total Debt	0.00	0.00	0.00	110.00K	230.00K	350.00K
Total Liabilities	2.24B	2.28B	2.27B	1.84B	1.74B	1.69B
Stockholders Equity	1.94B	1.97B	1.87B	1.84B	1.64B	946.57M
Cash Flow
Free Cash Flow	0.00	63.18M	714.36M	476.12M	-150.69M	369.27M
Operating Cash Flow	0.00	65.52M	765.61M	479.03M	-8.06M	512.57M
Investing Cash Flow	0.00	-64.45M	-41.34M	-6.79M	-163.03M	-193.92M
Financing Cash Flow	0.00	0.00	-110.00K	11.15M	638.58M	-120.00K

moi Corp. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 343.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5031, the sentiment is Negative. The current price of 343 is above the 20-day moving average (MA) of 306.35, above the 50-day MA of 319.60, and above the 200-day MA of 278.89, indicating a neutral trend. The MACD of -3.26 indicates Positive momentum. The RSI at 42.38 is Neutral, neither overbought nor oversold. The STOCH value of 14.55 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:5031.

moi Corp. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3917	66 Neutral	¥4.72B	62.68	―	―	7.40%	―
5033	66 Neutral	¥4.86B	21.99	―	―	7.60%	19.13%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
5031	61 Neutral	¥4.16B	39.83	―	―	1.26%	-96.90%
4448	58 Neutral	¥11.75B	74.58	―	―	14.63%	-760.87%
5027	49 Neutral	¥26.49B	39.28	―	―	20.84%	10.41%
3936	48 Neutral	¥4.68B	-29.24	―	―	33.73%	―