Human Technologies,Inc. (5621) AI Stock Analysis

• Market Cap: ¥14.63B
• Dividend Yield: 0.91%
• Average Volume (3M): 46.41K
• Price to Earnings (P/E): 18.0
• Beta (1Y): 1.45
• Revenue Growth: 21.67%
• EPS Growth: 13.55%
• Country: JP
• Employees: 306
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 25.90
• Shares Outstanding: 9,593,200
• 10 Day Avg. Volume: 50,030
• 30 Day Avg. Volume: 46,413
• PEG Ratio: 0.32
• Price to Book (P/B): 3.39
• Price to Sales (P/S): 2.48
• P/FCF Ratio: 15.06
• 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): 101.3
• Revenue Forecast (FY): ¥7.48B

• Rating: 71 Outperform
• Price Target: ¥1,685.00 ▼(-11.08% Downside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is primarily supported by strong financial performance—especially an improved FY2025 earnings profile and a very conservative balance sheet with minimal debt. Offsetting this, technicals are mixed with a negative MACD and the stock below key longer-term moving averages, and valuation is only moderately attractive with a ~24.5 P/E and low (~0.9%) dividend yield.

Positive Factors

Conservative balance sheet

Elimination of debt and materially higher equity meaningfully reduces financial distress risk and increases strategic optionality. Over 2–6 months this durability enables sustained investment in product, hiring, or M&A without borrowing, and improves resilience to cyclical software demand swings.

High and expanding margins

Consistently very high gross margins combined with improved operating and net margins indicate structural product economics and operating leverage. This supports durable profitability, cash generation and reinvestment capacity as revenue grows, underpinning competitive reinvestment and long-term margin sustainability.

Stronger revenue and cash conversion

Meaningful revenue growth alongside near-parity free cash flow and net income shows recent strong cash conversion. Durable cash generation supports self-funded product development, reduces reliance on external capital, and provides flexibility to withstand near-term headwinds over the coming months.

Negative Factors

Profitability volatility

Year-to-year swings in margins imply earnings and operational sensitivity to demand or execution. Over 2–6 months this raises forecast uncertainty, complicates budgeting and can limit the predictability of reinvestment and returns, making sustained margin expansion harder to rely upon.

Inconsistent cash flow history

Large FCF variability suggests working-capital or timing issues that affect liquidity. Structural inconsistency in cash generation can constrain multi-quarter investment plans, increase the need for cash buffers, and raise execution risk for longer-term projects despite the strong latest year.

Higher equity volatility

A beta materially above 1 indicates greater sensitivity to market moves and risk-on/off cycles. Over the medium term this increases financing and valuation risk during market stress, can magnify swings in investor access to capital, and raises the cost of managing strategic initiatives amid turbulence.

Human Technologies,Inc. Business Overview & Revenue Model

Company Description

Human Technologies, Inc. develops and sells attendance management system. It offers KING OF TIME, a cloud-based attendance management system; DigitalPersona AD MFA, a PC authentication reinforcement system; DigitalPersona AD SSO, a single sign-on system; and Digital Persona SDK, a fingerprint authentication development kit. The company was founded in 2001 and is headquartered in Tokyo, Japan.

How the Company Makes Money

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Human Technologies,Inc. Financial Statement Overview

Summary

Strong overall fundamentals: FY2025 profitability improved with expanding operating (~15.4%) and net (~10.8%) margins on rising revenue, supported by consistently high gross margin (~69–73%). Balance sheet is a major strength with debt effectively eliminated and higher equity, improving financial flexibility. Main risk is volatility, as margins and cash flow have been choppy year-to-year despite a strong latest period.

Income Statement

Profitability improved meaningfully in the latest annual period (FY2025): revenue rose to ~¥6.06B (up from ~¥5.03B in FY2024), while operating and net margins expanded to ~15.4% and ~10.8%, respectively (vs. ~10.0% and ~6.7% in FY2024). Gross margin remains very strong (~69–73%) across the period, supporting earnings leverage. The main watch-out is volatility: FY2022 showed higher margins than FY2023–FY2024, indicating profitability can swing year-to-year even as the revenue trajectory is positive.

Balance Sheet

The balance sheet is a clear strength: total debt is effectively eliminated in FY2025 (down from modest debt levels in prior years), resulting in very low financial risk and strong flexibility. Equity has grown materially (to ~¥4.43B in FY2025 from ~¥1.82–¥1.93B in FY2022–FY2023), and return on equity improved to ~14.8% in FY2025 (vs. ~8.6% in FY2024). A potential limitation is that returns are good but not consistently high (FY2024 dipped), suggesting performance is driven more by operating execution than leverage.

Cash Flow

Cash generation strengthened sharply in FY2025: operating cash flow rose to ~¥1.03B and free cash flow to ~¥1.00B, with free cash flow nearly matching net income (strong cash conversion versus FY2024). However, cash flow has been choppy—FY2024 saw weak free cash flow (~¥0.11B) and a decline versus FY2023, which raises some execution/working-capital volatility risk. Overall, the most recent year is strong, but the multi-year consistency is mixed.

Breakdown	TTM	Mar 2024	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	6.38B	6.06B	5.03B	4.22B	3.58B
Gross Profit	4.40B	4.18B	3.42B	3.00B	2.63B
EBITDA	1.12B	985.27M	533.38M	358.62M	622.76M
Net Income	731.26M	655.35M	335.43M	237.61M	438.63M
Balance Sheet
Total Assets	5.72B	5.89B	4.89B	2.98B	2.59B
Cash, Cash Equivalents and Short-Term Investments	3.71B	3.97B	3.32B	1.84B	1.63B
Total Debt	0.00	0.00	26.91M	251.42M	140.00M
Total Liabilities	1.20B	1.46B	995.60M	1.05B	777.10M
Stockholders Equity	4.52B	4.43B	3.89B	1.93B	1.82B
Cash Flow
Free Cash Flow	0.00	996.62M	111.18M	214.77M	166.69M
Operating Cash Flow	0.00	1.03B	398.08M	257.01M	263.93M
Investing Cash Flow	0.00	-234.42M	-285.92M	-41.54M	-90.04M
Financing Cash Flow	0.00	-142.02M	1.36B	-17.27M	-60.44M

Human Technologies,Inc. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1895.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5621, the sentiment is Neutral. The current price of 1895 is above the 20-day moving average (MA) of 1485.65, above the 50-day MA of 1651.58, and below the 200-day MA of 2064.64, indicating a neutral trend. The MACD of -26.78 indicates Negative momentum. The RSI at 47.57 is Neutral, neither overbought nor oversold. The STOCH value of 64.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:5621.

Human Technologies,Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5621	71 Outperform	¥14.63B	18.03	―	0.91%	21.67%	13.55%
4397	68 Neutral	¥6.79B	27.15	―	―	11.32%	―
5586	65 Neutral	¥12.69B	37.90	―	―	25.41%	9.69%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
4448	58 Neutral	¥11.75B	23.59	―	―	14.63%	-760.87%
4015	57 Neutral	¥7.22B	37.46	―	―	49.33%	104.72%
4484	55 Neutral	¥4.99B	29.81	―	―	4.36%	-0.02%