CYBERDYNE (7779) AI Stock Analysis

• Market Cap: ¥83.19B
• Dividend Yield: N/A
• Average Volume (3M): 724.97K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.81
• Revenue Growth: -4.30%
• EPS Growth: 82.87%
• Country: JP
• Employees: 227
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 0.57
• Shares Outstanding: 137,445,820
• 10 Day Avg. Volume: 764,380
• 30 Day Avg. Volume: 724,970
• PEG Ratio: 1.05
• Price to Book (P/B): 0.93
• Price to Sales (P/S): 8.43
• P/FCF Ratio: -50.27
• 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: ¥305.00
• Price Target Upside: 41.20% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.07
• Revenue Forecast (FY): ¥4.18B

• Rating: 56 Neutral
• Price Target: ¥406.00 ▲(87.96% Upside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is held back primarily by weak financial performance—ongoing net losses and persistent negative operating/free cash flow—despite a very strong, low-leverage balance sheet. Technicals are a major positive, showing a clear uptrend and strong momentum. Valuation remains unattractive because earnings are negative (negative P/E) and there is no dividend yield data to offset that.

Positive Factors

Low leverage / strong balance sheet

Very low debt and stable equity give CYBERDYNE lasting financial flexibility to fund R&D, pilot deployments and geographic expansion without immediate refinancing pressure. This reduces solvency risk while the company works toward recurring revenue and operating profitability.

Focused HAL exoskeleton platform

A single, differentiated product platform (HAL) plus related services creates a defensible niche: specialist technology, installed-base service opportunities and clinical use-cases support repeatable revenue streams and strengthen commercialization as adoption widens over time.

Healthy gross margins & improving losses

Sustainably high gross margins indicate the core product has pricing/structural economics that can support profitability once scale and operating leverage improve. The marked narrowing of losses in the TTM shows progress converting margin strength into tighter operating results.

Negative Factors

Persistent net losses

Continued net losses across reporting periods mean the company has not yet delivered durable earnings. This undermines return metrics, may compress equity returns long-term and raises the risk that sustained unprofitability forces equity dilution or constrains strategic investments.

Negative operating and free cash flow

Persistent negative operating and free cash flow require ongoing external financing to sustain growth and operations. That reliance can limit strategic flexibility, increase financing costs or dilute shareholders, and restrict ability to invest in commercialization or scale support functions.

Revenue momentum softened; adoption/regulatory dependency

A recent downturn in TTM revenue versus prior-year momentum raises concern about scaling dynamics. Market adoption depends on healthcare provider uptake and insurance/regulatory environments, so slower revenue traction can delay breakeven and strain plans that rely on steady installed-base growth.

CYBERDYNE Business Overview & Revenue Model

Company Description

CYBERDYNE Inc. researches, develops, produces, sell, leases, and maintains equipment and systems for medical and warfare in Japan. The company offers Hybrid Assistive Limb (HAL) for medical use in lower limb and single joint type; non-medical HAL for lower limb, single joint type, and lumbar type; HAL peripherals; cleaning robots; transportation robots for various transportation tasks in factories, offices, and other indoor environments; and Acoustic X, a high speed light pulse LED array light source that enables real time photoacoustic imaging. It also provides Cybernics Treatment, a treatment that uses HAL to enhance/regenerate the function of the wearer for spinal cord injury, stroke, neuromuscular diseases, etc.; HAL FIT for enhancement of brain-nerve-musculoskeltal system; MTX Neuro HAL Plus to enhance the performance of the athletes' brain-nerve functions; and Neuro HALFIT for enhancement of physical functions. In addition, the company is involved in the provision of rescue supports in disaster sites, and heavy labor supports for factories and plants; and entertainment business. The company was incorporated in 2004 and is headquartered in Tsukuba, Japan.

How the Company Makes Money

CYBERDYNE generates revenue through multiple channels, including the sale of its robotic products such as the HAL exoskeleton, which is marketed to hospitals and rehabilitation centers. The company also earns income from leasing its robotic systems and providing maintenance and support services. Additionally, CYBERDYNE has formed strategic partnerships with healthcare providers and research institutions, which help to expand its market reach and promote the adoption of its technologies. Grants and funding for research projects further contribute to its revenue streams, particularly in the development of new applications and enhancements of existing products.

CYBERDYNE Financial Statement Overview

Summary

Balance sheet is strong with very low leverage (debt-to-equity ~1–2%) and stable equity, providing flexibility. However, the company remains unprofitable (net losses in every period) and cash generation is weak with consistently negative operating cash flow and free cash flow, despite reduced cash burn in the TTM period.

Income Statement

Revenue has grown materially over the multi-year period (up strongly from FY2021 to FY2025), but momentum softened with TTM (Trailing-Twelve-Months) revenue declining versus the prior year. Gross margins remain healthy and fairly stable (~53–69%), yet profitability is the key issue: net income is still negative in every period shown, even though losses narrowed sharply in TTM (Trailing-Twelve-Months) versus FY2024. Overall, the company shows improving loss profile and solid gross profitability, but has not demonstrated consistent operating profitability.

Balance Sheet

The balance sheet is a clear strength: leverage is very low, with debt-to-equity consistently around ~1–2% and total debt modest versus a large equity base. Assets and equity appear stable over time, which provides financial flexibility. The main weakness is returns: return on equity remains negative across periods (consistent with net losses), indicating the capital base is not yet generating positive earnings.

Cash Flow

Cash generation is weak: operating cash flow is negative in all periods shown, and free cash flow is also consistently negative, indicating the business is not self-funding. There is improvement in TTM (Trailing-Twelve-Months) with materially less cash burn than prior years, but cash conversion remains a concern given ongoing negative operating cash flow and negative free cash flow while profitability is still not positive.

Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	4.11B	4.38B	4.35B	3.29B	2.15B	1.88B
Gross Profit	2.05B	2.37B	2.39B	1.79B	1.28B	1.30B
EBITDA	729.00M	16.00M	-2.00M	873.00M	116.00M	892.00M
Net Income	-3.00M	-577.00M	-1.48B	-298.00M	-498.00M	-59.00M
Balance Sheet
Total Assets	49.00B	48.55B	50.00B	50.19B	48.12B	47.81B
Cash, Cash Equivalents and Short-Term Investments	9.20B	14.86B	16.66B	17.31B	5.68B	6.70B
Total Debt	697.00M	434.00M	632.00M	669.00M	575.00M	421.00M
Total Liabilities	9.21B	8.95B	9.52B	8.20B	4.33B	3.55B
Stockholders Equity	39.80B	39.58B	40.75B	42.10B	43.41B	43.78B
Cash Flow
Free Cash Flow	-222.00M	-735.00M	-1.07B	-652.00M	-1.85B	-620.00M
Operating Cash Flow	-177.00M	-430.00M	-850.00M	-143.00M	-775.00M	-215.00M
Investing Cash Flow	5.56B	2.33B	-2.08B	2.17B	-2.79B	-244.00M
Financing Cash Flow	-226.00M	-216.00M	160.00M	14.00M	617.00M	1.30B

CYBERDYNE Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 216.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7779, the sentiment is Positive. The current price of 216 is below the 20-day moving average (MA) of 313.20, below the 50-day MA of 254.46, and above the 200-day MA of 201.16, indicating a bullish trend. The MACD of 36.12 indicates Negative momentum. The RSI at 77.03 is Negative, neither overbought nor oversold. The STOCH value of 88.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:7779.

CYBERDYNE Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5187	72 Outperform	¥11.13B	14.53	―	3.52%	4.97%	-10.07%
7963	67 Neutral	¥10.10B	11.43	―	1.89%	9.47%	37.35%
6849	65 Neutral	¥278.46B	21.99	―	1.92%	4.31%	96.31%
7600	58 Neutral	¥14.91B	-14.57	―	3.12%	3.59%	-163.08%
7779	56 Neutral	¥83.19B	-25,633.80	-0.46%	―	-4.30%	82.87%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
6523	51 Neutral	¥133.95B	37.73	4.32%	3.73%	0.04%	―

CYBERDYNE Corporate Events

Cyberdyne Narrows Losses and Returns to Profit Despite Revenue Decline

CYBERDYNE reported consolidated revenue of ¥2.89 billion for the nine months ended December 31, 2025, down 8.7% year-on-year, but significantly improved profitability, moving from an operating loss of ¥708 million to a smaller loss of ¥274 million. The company also swung to a profit before tax of ¥368 million and profit attributable to owners of the parent of ¥190 million, translating into basic earnings per share of ¥0.90 compared with a loss per share a year earlier.

The balance sheet remained strong, with total assets of ¥49.0 billion and an equity ratio of 81.2%, while the company maintained a no-dividend policy for the current fiscal year. Citing the uncertainty inherent in its innovative, emerging-technology business model, CYBERDYNE refrained from issuing a full-year earnings forecast, underscoring the volatility of its operating environment even as profitability metrics show notable progress for stakeholders to monitor.

The most recent analyst rating on (JP:7779) stock is a Hold with a Yen277.00 price target. To see the full list of analyst forecasts on CYBERDYNE stock, see the JP:7779 Stock Forecast page.

CYBERDYNE Increases SIP Consignment Budget Under NEDO Robotics Project

CYBERDYNE Inc. has amended its business consignment agreement with Japan’s New Energy and Industrial Technology Development Organization (NEDO) under the government-led Strategic Innovation Promotion Program (SIP) focused on human collaborative robotics and HCPS technologies, increasing the total scheduled consignment amount for fiscal years 2023–2025 from ¥1,143 million to ¥1,190 million while keeping the original R&D period unchanged. The revised budget framework confirms continued national backing for CYBERDYNE’s role in developing social implementation technologies for integrated human-collaborative robotics, with the company expecting to post ¥385 million in revenue from consigned R&D in FY2025, underscoring a stable public-funded revenue stream and reinforcing its position in Japan’s strategic robotics innovation ecosystem.

The most recent analyst rating on (JP:7779) stock is a Hold with a Yen277.00 price target. To see the full list of analyst forecasts on CYBERDYNE stock, see the JP:7779 Stock Forecast page.

CYBERDYNE Selected for UNIDO’s Green Industrial Recovery Project in Ukraine

CYBERDYNE Inc. has been selected for the United Nations Industrial Development Organization’s ‘Green Industrial Recovery Project for Ukraine,’ funded by Japan’s Ministry of Economy, Trade and Industry. The project aims to support Ukraine’s green industrial recovery through technology transfer and innovation, with CYBERDYNE conducting a feasibility study to establish innovation bases in Ukraine utilizing its Cybernics technology. The impact on CYBERDYNE’s financial results is expected to be minor, with the consignment fee recorded as ‘Other Income’ during the contract period.

The most recent analyst rating on (JP:7779) stock is a Hold with a Yen195.00 price target. To see the full list of analyst forecasts on CYBERDYNE stock, see the JP:7779 Stock Forecast page.