CaSy Co.,Ltd. (9215) AI Stock Analysis

• Market Cap: ¥1.70B
• Dividend Yield: N/A
• Average Volume (3M): 4.84K
• Price to Earnings (P/E): 36.2
• Beta (1Y): 0.14
• Revenue Growth: 6.84%
• EPS Growth: N/A
• Country: JP
• Employees: 34
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 20.07
• Shares Outstanding: 1,892,000
• 10 Day Avg. Volume: 3,810
• 30 Day Avg. Volume: 4,840
• PEG Ratio: 0.05
• Price to Book (P/B): 6.84
• Price to Sales (P/S): 0.98
• P/FCF Ratio: 0.00
• 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: 56 Neutral
• Price Target: ¥932.00 ▼(-19.38% Downside)

The score is driven primarily by improving financial performance and strong recent revenue growth, but it is held back by thin margins, increased leverage, and uneven free cash flow. Technicals add additional caution due to a clear downtrend, while valuation is less supportive given the high P/E.

Positive Factors

Strong revenue acceleration

Sustained, sharp revenue growth indicates successful market penetration and rising platform adoption. Over 2–6 months this supports scale advantages, expanded service provider networks, and higher leverage of fixed tech costs, enabling reinvestment in product and customer acquisition.

Profitability recovery and ROE

Material improvement in ROE and movement from prior losses denotes better capital allocation and operational execution. A sustained ROE near this level supports ability to generate shareholder returns and fund growth internally over the medium term if margins remain stable.

Platform business model

An asset-light matching platform targets recurring household needs, creating structural demand and potential network effects as providers and users scale. Over months this underpins durable revenue streams and opportunities for cross-selling and geographic expansion.

Negative Factors

Thin operating and net margins

Very thin margins for a software/application platform limit capacity to absorb higher costs, fund reinvestment, or build buffer against demand shocks. Margin pressure reduces long-term free cash flow potential and magnifies execution risk if competitive or labor costs rise.

Rising leverage

A notable step-up in leverage weakens financial flexibility and raises fixed obligations. With higher debt, the company has less room for opportunistic investments or to weather downturns, increasing refinancing and interest-rate risk over the medium term.

Inconsistent free cash flow

Intermittent or effectively zero free cash flow in 2025 despite positive operating cash flow signals reinvestment needs or fragile cash conversion. This undermines durable self-funding of expansion and makes the firm more reliant on external financing if growth continues.

CaSy Co.,Ltd. Business Overview & Revenue Model

Company Description

CaSy Co.,Ltd. (9215) is a service-oriented company operating primarily in the household and lifestyle sector. The company offers a range of services designed to facilitate everyday life, focusing on convenience and efficiency for its customers. CaSy Co. specializes in providing on-demand housekeeping and cleaning services, utilizing a digital platform that connects clients with skilled service providers. Their core services include regular house cleaning, deep cleaning, laundry, and other related household tasks.

How the Company Makes Money

CaSy Co.,Ltd. generates revenue primarily through its digital platform, which serves as an intermediary between customers seeking household services and service providers. The company earns money by charging service fees or commissions for each transaction facilitated through their platform. This fee is usually a percentage of the total service cost paid by the customer. Additionally, CaSy may offer subscription packages or membership plans, providing customers with bundled services at a discounted rate, thus securing recurring revenue. The company may also engage in partnerships with other businesses to expand their service offerings and enhance their platform's value proposition, contributing to its earnings.

CaSy Co.,Ltd. Financial Statement Overview

Summary

Revenue has grown steadily and leverage is manageable (debt-to-equity ~0.33), with positive operating and free cash flow in 2024. However, profitability weakened sharply in 2024 (net margin ~0.3% vs ~1.4% in 2023) and ROE fell (~2.3% vs ~8.8%), indicating reduced earnings power and weaker cash conversion.

Income Statement

Revenue has grown steadily over the last five annual periods (about ¥0.97B to ¥1.76B), showing solid demand. Gross margin improved modestly (roughly 35% to 38%), but profitability is the key weakness: operating profit and net margin fell sharply in 2024 (net margin ~0.3% vs ~1.4% in 2023), indicating higher costs and reduced earnings power despite higher sales.

Balance Sheet

Leverage looks manageable in the latest year with debt-to-equity around 0.33 and equity having expanded materially versus 2020–2021. The main concern is returns: return on equity dropped to ~2.3% in 2024 from ~8.8% in 2023, reflecting the earnings slowdown and limiting the balance sheet’s ability to compound value.

Cash Flow

Cash generation is positive, with operating cash flow and free cash flow remaining positive in 2024, which is a clear improvement versus the negative cash flow in 2020. However, cash conversion weakened: operating cash flow relative to revenue is lower in 2024 than prior years, and free cash flow declined versus 2023, suggesting more pressure from working capital and/or investment needs as profitability softened.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	898.22M	1.92B	1.76B	1.55B	1.34B	1.17B
Gross Profit	337.68M	720.66M	673.57M	561.30M	470.69M	406.46M
EBITDA	21.85M	77.74M	21.42M	28.61M	27.40M	-576.00K
Net Income	9.02M	46.93M	5.68M	21.07M	9.72M	3.06M
Balance Sheet
Total Assets	607.48M	703.76M	538.68M	486.94M	443.06M	270.24M
Cash, Cash Equivalents and Short-Term Investments	341.82M	351.20M	324.36M	349.46M	327.87M	169.78M
Total Debt	159.44M	212.31M	80.83M	70.00M	70.00M	70.00M
Total Liabilities	356.11M	429.39M	293.27M	247.21M	224.40M	217.89M
Stockholders Equity	251.37M	274.37M	245.41M	239.74M	218.66M	52.35M
Cash Flow
Free Cash Flow	0.00	0.00	10.17M	21.60M	18.11M	595.00K
Operating Cash Flow	0.00	45.71M	27.43M	29.71M	35.82M	6.04M
Investing Cash Flow	0.00	-98.72M	-63.36M	-8.11M	-17.71M	-5.44M
Financing Cash Flow	0.00	79.85M	10.82M	0.00	139.98M	0.00

CaSy Co.,Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1156.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9215, the sentiment is Negative. The current price of 1156 is above the 20-day moving average (MA) of 925.60, above the 50-day MA of 978.92, and above the 200-day MA of 975.07, indicating a bearish trend. The MACD of -8.42 indicates Negative momentum. The RSI at 36.92 is Neutral, neither overbought nor oversold. The STOCH value of 17.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9215.

CaSy Co.,Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3913	75 Outperform	¥3.36B	17.25	―	―	14.42%	3652.58%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
4255	59 Neutral	¥4.68B	24.32	―	―	12.56%	―
9215	56 Neutral	¥1.70B	36.18	―	―	6.84%	―
4179	48 Neutral	¥1.87B	-12.64	―	―	30.10%	40.65%
3910	44 Neutral	¥1.71B	281.28	―	1.35%	9.45%	―
6786	43 Neutral	¥1.44B	-4.62	―	―	4.53%	58.34%