CEL Corporation (5078) AI Stock Analysis

• Market Cap: ¥16.34B
• Dividend Yield: 1.96%
• Average Volume (3M): 696.00
• Price to Earnings (P/E): 29.5
• Beta (1Y): 0.32
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: JP
• Employees: 180
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): 52.15
• Shares Outstanding: 3,491,900
• 10 Day Avg. Volume: 970
• 30 Day Avg. Volume: 696
• PEG Ratio: 0.35
• Price to Book (P/B): 0.72
• Price to Sales (P/S): 0.62
• P/FCF Ratio: 10.01
• 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: 64 Neutral
• Price Target: ¥5,147.00 ▲(6.90% Upside)
• Action: Reiterated Date: 03/24/26
• Date: Action: Reiterated 03/24/26

The score is primarily driven by strong financial health (minimal leverage and improving profitability), partly offset by inconsistent cash-flow generation. Technicals are a secondary headwind due to the stock trading below longer-term moving averages, while valuation is mixed with a relatively high P/E tempered by a moderate dividend yield.

CEL Corporation Business Overview & Revenue Model

Company Description

CEL Corporation provides consulting services on land utilization. The company also engages in the business related to design and construction, civil engineering works; property management, building leasing, and management and operations; real estate sales, leasing, exchange and its agency, and mediation; and building renovation and maintenance. In addition, it is involved in the business related to manufacturing and processing of steel frame members and materials for construction activities, and provision of apartment management services. CEL Corporation was incorporated in 1993 and is headquartered in Tokyo, Japan.

CEL Corporation Financial Statement Overview

Summary

Fundamentals are supported by a very strong, low-leverage balance sheet (debt effectively eliminated) and improving profitability with higher margins and net income in the latest year. The main drag is cash-flow volatility, including prior negative periods and a sharp drop in operating cash flow in 2025 versus 2024, which reduces confidence in consistency.

Income Statement

Revenue growth improved meaningfully in the latest period (2025 annual: +4.8% vs. 2024: ~0.1%), and profitability has been trending up with higher gross and operating margins (2025 gross margin ~19.7% vs. 2024 ~17.2%; 2025 operating margin ~8.6% vs. 2024 ~7.2%). Net income also rose (2025: ~1.42B vs. 2024: ~1.11B). A key weakness is volatility/quality of earnings across the history—2022 shows unusually high margins and net income relative to revenue, which stands out versus surrounding years and reduces confidence in smooth, recurring profitability.

Balance Sheet

The balance sheet is very conservatively financed: debt is minimal and is effectively eliminated in 2025 (total debt 0; debt-to-equity 0.0), down from already-low leverage in 2023–2024 (~0.01). Equity is large and growing (2025: ~20.4B vs. 2024: ~19.4B), supporting financial flexibility. Return on equity improved to ~6.9% in 2025 from ~5.7% in 2024, but returns are still moderate (and historically uneven), suggesting the company is not consistently generating high profitability on its capital base.

Cash Flow

Free cash flow was positive in 2025 (~1.47B) and broadly in line with net income (free cash flow about ~96% of net income), which is a good sign for earnings conversion. However, operating cash flow dropped sharply in 2025 (~1.53B) from a very strong 2024 (~4.34B), and cash flow has been volatile with materially negative operating and free cash flow in 2022–2023. This variability raises risk around the consistency and predictability of cash generation.

Breakdown	TTM	Feb 2025	Feb 2024	Feb 2023	Feb 2022	Feb 2021
Income Statement
Total Revenue	23.14B	23.92B	23.10B	21.38B	18.42B	17.08B
Gross Profit	4.83B	4.71B	3.96B	3.41B	3.01B	2.82B
EBITDA	2.12B	2.22B	1.82B	1.41B	18.00B	1.48B
Net Income	1.32B	1.42B	1.11B	853.43M	10.68B	576.77M
Balance Sheet
Total Assets	24.73B	24.87B	24.18B	22.42B	27.43B	12.81B
Cash, Cash Equivalents and Short-Term Investments	17.50B	18.58B	17.77B	14.25B	19.50B	7.13B
Total Debt	136.00M	0.00	200.00M	200.00M	1.18B	1.47B
Total Liabilities	4.09B	4.45B	4.75B	3.63B	9.66B	5.29B
Stockholders Equity	20.64B	20.42B	19.43B	18.79B	17.77B	7.52B
Cash Flow
Free Cash Flow	0.00	1.47B	4.02B	-4.44B	-4.28B	1.29B
Operating Cash Flow	0.00	1.53B	4.34B	-4.18B	-4.18B	1.34B
Investing Cash Flow	0.00	-99.90M	-342.07M	-261.92M	17.19B	-88.27M
Financing Cash Flow	0.00	-605.36M	-481.47M	-820.69M	-647.15M	-783.73M

CEL Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8898	82 Outperform	¥11.89B	11.85	―	4.98%	3.29%	-1.74%
3276	76 Outperform	¥20.97B	15.65	―	4.36%	1.52%	16.04%
2970	66 Neutral	¥17.46B	8.37	―	―	57.57%	57.09%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
5078	64 Neutral	¥16.34B	29.48	―	1.96%	―	―
2991	59 Neutral	¥13.53B	6.93	―	1.47%	20.82%	9.86%
5532	56 Neutral	¥15.81B	5.83	―	―	23.19%	44.46%