Seyfert Ltd. (9213) AI Stock Analysis

• Market Cap: ¥968.15M
• Dividend Yield: 4.76%
• Average Volume (3M): 141.69K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.44
• Revenue Growth: -8.34%
• EPS Growth: -332.75%
• Country: JP
• Employees: 130
• Sector: Industrials
• Sector Strength: 72
• Industry: Conglomerates
• EPS (TTM): -39.74
• Shares Outstanding: 1,320,800
• 10 Day Avg. Volume: 30,320
• 30 Day Avg. Volume: 141,686
• PEG Ratio: <0.01
• Price to Book (P/B): 1.14
• Price to Sales (P/S): 0.50
• P/FCF Ratio: -44.88
• 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: 45 Neutral
• Price Target: ¥694.00 ▼(-5.32% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is held back primarily by deteriorating financial performance (losses and negative operating/free cash flow) and a bearish technical setup (below key moving averages with negative MACD). A low-debt balance sheet and a modest dividend provide partial support but do not outweigh the current earnings and cash flow pressure.

Positive Factors

Low leverage balance sheet

Very low leverage materially reduces financial risk and preserves strategic optionality. A conservatively financed balance sheet gives management time to repair operations, supports targeted capex or partnerships without urgent external financing, and cushions cyclical shocks while profitability recovers.

Relatively high gross profit margin

Sustained high gross margins indicate product-level pricing power or favorable input economics in core components. If operating expenses are controlled, those gross margins can convert into durable operating profitability, enabling scalable margins as revenue stabilizes.

Proven cash-generation in prior years

A track record of strong free cash flow through 2022–2024 demonstrates the business model can generate significant cash when operations perform. That historical capability implies the company can restore cash conversion through execution, enabling reinvestment, dividends, or debt reduction once performance normalizes.

Negative Factors

2025 swing to losses and cash burn

The move to operating and net losses with negative operating and free cash flow materially weakens internal funding capacity. Prolonged cash burn forces difficult trade-offs—cost cuts, delayed R&D, or external financing—which can impair long-term competitiveness and execution if not reversed.

Multi-year revenue decline

A sustained top-line decline reduces economies of scale and intensifies pressure on margins by spreading fixed costs across a smaller base. Continued revenue erosion weakens market position across served industries and makes restoring sustainable profitability and growth materially harder.

Equity erosion and negative ROE

Declining equity and sharply negative ROE reflect capital erosion from losses, shrinking the balance-sheet buffer. Reduced shareholder equity limits flexibility for investments or partnerships and raises the hurdle to rebuild returns, increasing financing and operational constraints until profitability recovers.

Seyfert Ltd. Business Overview & Revenue Model

Company Description

Seyfert Ltd. provides consultation services for beauty salon operation in Japan. It offers hairdressing related publishing and advertising; beauty salon-based marketing; hairdresser placement and temp agency; hairdresser training, coaching, and education; and international study agency services, as well as operates and introduces evaluation standard for hairdressing technics. The company also operates Hair, makeup, and stylist offices, as well as vocational training and education facilities; planning, manufacturing, importing, selling, and sales agency of products and services; and management of various educational facilities and business. The company was incorporated in 1991 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Seyfert Ltd. generates revenue primarily through the sale of its electronic components and systems to businesses across multiple sectors. The company employs a business-to-business (B2B) revenue model, where it partners with manufacturers and distributors to supply essential components for their products. Key revenue streams include direct sales of components, long-term contracts with major clients, and licensing agreements for proprietary technology. Additionally, Seyfert Ltd. benefits from strategic partnerships with industry leaders, which enhance its market presence and provide access to new customer bases, ultimately contributing to its overall earnings.

Seyfert Ltd. Financial Statement Overview

Summary

Income statement and cash flow are weak: 2025 swung to operating and net losses and operating/free cash flow turned negative. The balance sheet is a key offset with very low leverage, but profitability and cash generation are the main near-term risks.

Income Statement

Profitability has deteriorated meaningfully: 2025 turned loss-making (negative operating profit and net loss) after modest profitability in 2024 and stronger earnings in 2021–2023. Revenue has also been trending down for several years, with another mid-single-digit decline in 2025. A key positive is that gross profit margin remains relatively high, but operating costs are currently overwhelming that gross profit, driving negative margins.

Balance Sheet

Leverage is very low in the latest year, with debt small relative to equity, which reduces financial risk and supports flexibility. However, equity has declined versus prior years and returns on equity swung sharply negative in 2025, reflecting the net loss. Overall the balance sheet looks conservatively financed today, but profitability needs to recover to stabilize returns.

Cash Flow

Cash generation weakened materially in 2025, with negative operating cash flow and negative free cash flow after being solidly positive in 2022–2024 (and very strong in 2023). The company’s free cash flow has been volatile year-to-year, and the shift to cash burn alongside net losses increases near-term execution risk, even though prior periods show it can generate healthy cash when operations are performing.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.03B	1.93B	2.13B	2.17B	2.24B	2.28B
Gross Profit	1.16B	1.09B	1.24B	1.38B	1.46B	1.43B
EBITDA	27.72M	-33.40M	97.00M	239.78M	275.04M	289.54M
Net Income	-40.54M	-180.53M	20.85M	123.00M	149.61M	145.11M
Balance Sheet
Total Assets	1.63B	1.47B	1.75B	1.82B	1.81B	1.88B
Cash, Cash Equivalents and Short-Term Investments	1.05B	963.63M	1.08B	1.19B	1.22B	1.30B
Total Debt	12.08M	13.36M	21.00M	49.00M	131.29M	699.27M
Total Liabilities	599.07M	621.36M	663.13M	709.00M	776.89M	1.38B
Stockholders Equity	1.03B	852.38M	1.08B	1.11B	1.04B	500.92M
Cash Flow
Free Cash Flow	0.00	-21.57M	57.34M	204.00M	58.31M	171.47M
Operating Cash Flow	0.00	-20.60M	65.63M	205.00M	164.75M	234.28M
Investing Cash Flow	0.00	-23.22M	-37.35M	-99.88M	-89.94M	-42.59M
Financing Cash Flow	0.00	-65.21M	-93.42M	-137.00M	-172.34M	-639.87M

Seyfert Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 733.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9213, the sentiment is Negative. The current price of 733 is below the 20-day moving average (MA) of 762.65, below the 50-day MA of 760.70, and below the 200-day MA of 863.51, indicating a bearish trend. The MACD of -8.88 indicates Positive momentum. The RSI at 38.10 is Neutral, neither overbought nor oversold. The STOCH value of 37.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9213.

Seyfert Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4241	71 Outperform	¥3.78B	26.63	―	1.87%	1.62%	―
3306	67 Neutral	¥3.08B	5.26	―	0.59%	-27.54%	253.34%
7827	66 Neutral	¥2.98B	7.06	―	3.82%	10.44%	-3.40%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
9213	45 Neutral	¥968.15M	-5.36	―	4.76%	-8.34%	-332.75%
4840	45 Neutral	¥3.54B	-8.80	―	―	150.27%	233.12%