BayCurrent Consulting, Inc. (6532) AI Stock Analysis

• Market Cap: ¥1.12T
• Dividend Yield: 1.3%
• Average Volume (3M): 1.39M
• Price to Earnings (P/E): 30.7
• Beta (1Y): 0.42
• Revenue Growth: 25.07%
• EPS Growth: 26.47%
• Country: JP
• Employees: 4,321
• Sector: Industrials
• Sector Strength: 72
• Industry: Consulting Services
• EPS (TTM): 58.04
• Shares Outstanding: 155,411,400
• 10 Day Avg. Volume: 1,423,480
• 30 Day Avg. Volume: 1,394,313
• PEG Ratio: 1.45
• Price to Book (P/B): 10.26
• Price to Sales (P/S): 8.34
• P/FCF Ratio: 30.47
• 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: ¥10,000.00
• Price Target Upside: 53.85% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 79 Outperform
• Price Target: ¥8,247.00 ▲(26.88% Upside)

Score is driven primarily by strong financial performance (high margins, low leverage, and strong cash conversion). Technicals are moderately supportive with improving near-term trend, but the longer-term trend is still mixed. Valuation is the main constraint, with a higher P/E and only a modest dividend yield alongside decelerating growth/FCF trends.

Positive Factors

High Profitability

Sustained high margins reflect pricing power and a scalable consulting model that converts revenue to profit efficiently. Durable profitability supports reinvestment, dividends and weathering cyclical revenue swings, making earnings less sensitive to short-term revenue dips.

Conservative Balance Sheet

Very low leverage provides financial flexibility to fund hires, pursue selective M&A, or maintain payouts during downturns. A conservative balance sheet reduces default risk and preserves strategic optionality over multiple business cycles.

Strong Cash Conversion

Cash generation closely tracking accounting earnings indicates high earnings quality and operational discipline. Reliable cash conversion funds working capital and returns to shareholders, and cushions the business against temporary billing or collections volatility.

Negative Factors

Decelerating Revenue Growth

Growth has slowed to mid-single digits on a TTM basis, reducing margin for error in maintaining high returns. Slower top-line expansion limits sustainable reinvestment and raises the risk that operating leverage and ROE will normalize if demand weakens further.

Slight Negative Free Cash Flow Trend

Although cash conversion is strong, a modest decline in FCF growth signals potential near-term variability in cash generation. Persistent negative FCF trends could constrain hiring, capital allocation or shareholder returns over the medium term if not reversed.

Demand Sensitivity of Business Model

A project-based consulting model exposes revenue to client discretionary spending and economic cycles. High current ROE and margins could normalize if consulting demand falls, making long-term performance contingent on steady client engagement and contract flow.

BayCurrent Consulting, Inc. Business Overview & Revenue Model

Company Description

BayCurrent Consulting, Inc. provides consulting services in Japan. The company provides engaged in designing and implementing strategy/business strategy, globalization, m&a/jv/alliances, innovation/new business development, turn-around, innovation/new business development, overseas expansion, global resource utilization, global governance design, change towards capturing inbound demand, marketing and sales strategy, and business due diligence.It offers DX-based high level planning, digital department launch, blockchain utilization, business model DX, designing thinking/agile operations, digital marketing, AI/IoT implementation, DX strategy/roadmap formulation, digital human resource development, fintech/insurtech, operation DX, and lean start-ups services. Additionally, the company provides procurement cost reduction, business process re-engineering, supply chain management, customer relationship management, risk management, value chain transformation, governance/management design, operation reform/standardization, and leadership training services. Further, it offers IT strategy, IT governance, IT cost optimization, IT organizational improvement, IT talent development, PMO, IT architecture, system design/ development, and IT asset evaluation services. The company serves financial, high-tech/telecommunication, media/entertainment, industrial/distribution/retail, health care, energy, and public sector industries. BayCurrent Consulting, Inc. was founded in 1998 and is based in Tokyo, Japan.

How the Company Makes Money

BayCurrent Consulting generates revenue primarily through its consulting services, which include strategic advisory, operational improvement, and digital transformation projects. The company operates on a project-based fee structure, where clients are charged based on the scope and duration of the consulting engagements. Additionally, BayCurrent may offer retainer agreements for ongoing advisory services. Key revenue streams include fees for project deliverables, workshops, and training sessions. The firm also benefits from significant partnerships with technology providers and other consulting firms, which can enhance its service offerings and expand its client base, contributing to its overall earnings.

BayCurrent Consulting, Inc. Financial Statement Overview

Summary

BayCurrent Consulting, Inc. exhibits strong financial performance with consistent revenue and profit growth, efficient cost management, and robust cash flow generation. The income statement, balance sheet, and cash flow statement all reflect a well-managed company with a solid foundation for future growth.

Income Statement

BayCurrent Consulting, Inc. demonstrates strong financial performance with consistent revenue growth and robust profitability margins. The TTM data shows a revenue growth rate of 5.98%, indicating steady expansion. Gross profit margin and net profit margin are healthy at 54.35% and 26.90%, respectively, reflecting efficient cost management and strong bottom-line performance. The EBIT and EBITDA margins are also impressive at 37.11% and 39.57%, showcasing operational efficiency. Overall, the income statement reflects a well-managed company with strong growth and profitability.

Balance Sheet

The balance sheet of BayCurrent Consulting, Inc. is solid, with a low debt-to-equity ratio of 0.077, indicating prudent financial leverage. The return on equity (ROE) is strong at 37.35%, highlighting effective use of shareholder funds to generate profits. The equity ratio is healthy, suggesting a stable financial structure. However, a slight increase in total debt over the periods is noted, which could be a potential risk if not managed carefully. Overall, the balance sheet reflects financial stability and effective capital management.

Cash Flow

The cash flow statement indicates strong cash generation capabilities, with a free cash flow growth rate of 7.70% in the TTM period. The operating cash flow to net income ratio is 1.44, and the free cash flow to net income ratio is 0.98, both suggesting efficient conversion of income into cash. These metrics reflect the company's ability to sustain operations and fund growth initiatives. The consistent growth in free cash flow over the years further underscores the company's robust cash flow management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2021	Dec 2021
Income Statement
Total Revenue	130.42B	116.06B	93.91B	76.09B	42.87B	57.64B
Gross Profit	72.38B	62.45B	51.27B	42.42B	20.23B	30.57B
EBITDA	51.04B	45.10B	36.63B	30.98B	14.53B	22.36B
Net Income	34.93B	30.76B	25.38B	21.91B	10.01B	15.54B
Balance Sheet
Total Assets	131.52B	124.67B	99.88B	66.57B	46.00B	50.26B
Cash, Cash Equivalents and Short-Term Investments	68.28B	63.55B	45.78B	36.61B	16.36B	26.05B
Total Debt	6.52B	8.08B	9.65B	3.41B	6.98B	4.46B
Total Liabilities	27.97B	30.26B	25.76B	16.15B	15.98B	14.73B
Stockholders Equity	103.55B	94.40B	74.13B	50.42B	30.02B	35.53B
Cash Flow
Free Cash Flow	34.90B	31.78B	20.72B	21.25B	11.93B	15.94B
Operating Cash Flow	35.27B	32.65B	24.35B	21.64B	12.13B	16.02B
Investing Cash Flow	-3.80B	-3.53B	-3.75B	-2.26B	-364.00M	-147.00M
Financing Cash Flow	-15.55B	-14.34B	-11.42B	-8.83B	-3.50B	-6.11B

BayCurrent Consulting, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6500.00
• 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:6532, the sentiment is Negative. The current price of 6500 is below the 20-day moving average (MA) of 6675.85, below the 50-day MA of 6674.26, and below the 200-day MA of 7575.22, indicating a bearish trend. The MACD of 39.93 indicates Negative momentum. The RSI at 47.19 is Neutral, neither overbought nor oversold. The STOCH value of 58.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6532.

BayCurrent Consulting, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6532	79 Outperform	¥1.12T	30.74	―	1.30%	25.07%	26.47%
4373	72 Outperform	¥239.04B	23.37	―	1.19%	23.88%	64.21%
4792	72 Outperform	¥34.80B	14.63	―	4.39%	2.46%	-31.77%
9644	72 Outperform	¥25.34B	22.93	―	3.50%	15.91%	36.39%
9757	69 Neutral	¥114.51B	24.16	―	3.44%	10.28%	-20.11%
9168	68 Neutral	¥15.17B	10.08	―	1.04%	23.25%	14.29%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

BayCurrent Consulting, Inc. Corporate Events

BayCurrent Consulting Positions Itself as Key Partner Amid Rising Demand for Comprehensive Digital and Strategic Advisory

BayCurrent Consulting outlined the business environment surrounding its operations and reiterated its vision as it reported third-quarter results for the fiscal year ending February 28, 2026, highlighting rising corporate demand for comprehensive consulting amid increasingly complex management issues driven by digital innovation, regulatory change, and geopolitical risk. Emphasizing the shortage of in-house expertise and talent at client companies, the firm positioned itself as a key partner for large enterprises seeking end-to-end solutions for digital transformation, sustainability, corporate finance, and business portfolio optimization, and signaled continued investment in enhancing value-added services and expanding capabilities to strengthen its competitive standing in Japan’s consulting market.

The most recent analyst rating on (JP:6532) stock is a Hold with a Yen7666.00 price target. To see the full list of analyst forecasts on BayCurrent Consulting, Inc. stock, see the JP:6532 Stock Forecast page.

BayCurrent Delivers Strong Q3 Earnings and Confirms Outlook While Doubling Dividend

BayCurrent reported strong consolidated results for the nine months ended November 30, 2025, with revenue rising 26.8% year-on-year to ¥105.9 billion and profit attributable to owners of the parent climbing 22.8% to ¥26.0 billion, alongside a solid equity ratio of 78.7%. The company also maintained its full-year forecast for fiscal 2026, projecting revenue of ¥143.0 billion and profit attributable to owners of the parent of ¥37.3 billion, and plans to double its annual dividend to ¥100 per share, signaling confidence in sustained growth and a continued commitment to shareholder returns.

The most recent analyst rating on (JP:6532) stock is a Hold with a Yen7666.00 price target. To see the full list of analyst forecasts on BayCurrent Consulting, Inc. stock, see the JP:6532 Stock Forecast page.