Livero Inc. (9245) AI Stock Analysis

• Market Cap: ¥12.42B
• Dividend Yield: 1.35%
• Average Volume (3M): 4.73K
• Price to Earnings (P/E): 22.8
• Beta (1Y): 0.27
• Revenue Growth: 21.96%
• EPS Growth: 17.76%
• Country: JP
• Employees: 153
• Sector: Communication Services
• Sector Strength: 97
• Industry: Internet Content & Information
• EPS (TTM): 12.38
• Shares Outstanding: 5,405,500
• 10 Day Avg. Volume: 8,640
• 30 Day Avg. Volume: 4,733
• PEG Ratio: 0.39
• Price to Book (P/B): 4.40
• Price to Sales (P/S): 2.68
• P/FCF Ratio: 12.28
• 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): 152
• Revenue Forecast (FY): ¥5.62B

• Rating: 69 Neutral
• Price Target: ¥2,422.00 ▲(7.50% Upside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is primarily supported by strong financial fundamentals—debt-free balance sheet, rising equity, and improving profitability with accelerating revenue growth. This is tempered by weak near-term technicals (below key moving averages with negative MACD) and a valuation that looks reasonable but not clearly cheap (P/E ~22.5, modest ~1.36% yield).

Positive Factors

Debt-free balance sheet and rising equity

Zero reported debt plus steadily rising equity materially increases financial flexibility over the medium term. This reduces interest burden, preserves capacity for organic investment, M&A or shareholder returns, and improves downside resilience against cyclical revenue shocks.

Consistent multi-year revenue growth with 2025 acceleration

Sustained, accelerating revenue growth indicates growing product adoption and market traction. A larger, expanding revenue base strengthens operating leverage potential, supports margin recovery over time, and underpins repeatable free cash generation for reinvestment.

Improved cash generation and high-quality 2025 FCF

Material improvement in operating and free cash flow, with 2025 FCF nearly matching net income, signals higher earnings quality and internal funding capacity. Reliable FCF supports sustained capex, product investment, or returns without reliance on external financing.

Negative Factors

Gross margin trending down from prior peaks

A declining gross margin trend, even from high levels, poses a structural risk to sustained operating profitability. If cost pressures or mix shifts persist, management will need pricing power or efficiency gains to preserve current operating and net margin levels long term.

Historical cash-flow volatility and working-capital swings

Meaningful variability in OCF and FCF raises the risk that timing or working-capital swings constrain investment or force external funding in stress periods. Volatile cash conversion reduces predictability of reinvestment and shareholder distributions over a multi-quarter horizon.

Uneven returns on equity and inconsistent profitability

Inconsistent ROE and episodic profit weakness point to uneven capital efficiency or cyclical exposure. This makes long-term forecasting of shareholder returns harder and suggests management must sustain improvements to convert growth into reliable, efficient returns.

Livero Inc. Business Overview & Revenue Model

Company Description

Livero Inc. provides a cloud platform in Japan. Its platform helps people to establish new living arrangements by helping them to find a place to rent, move, set up basic utilities, and easily make and manage their rental contracts. The company was incorporated in 2009 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Livero Inc. Financial Statement Overview

Summary

Strong overall financial profile: steady multi-year revenue growth with accelerating 2025 growth, and a meaningful profitability rebound since 2022 (solid 2025 operating and net margins). The balance sheet is a key strength with zero debt and rising equity. Offsetting factors are margin variability (gross margin trending down from prior peak levels) and historical cash-flow volatility (notably weak 2022).

Income Statement

Revenue has expanded steadily from 2020–2025, with growth accelerating in 2025 (up ~11% vs. near-flat in 2024). Profitability strengthened meaningfully over the last three years: operating profit and net income rose sharply from 2022–2025, and 2025 delivered solid margins (about 17% operating margin and 12% net margin). The main caution is volatility: 2022 saw a notable drop in profitability (very low net margin), and gross margin has trended down from the exceptionally high levels seen in 2021–2023, even though it remains strong overall.

Balance Sheet

The balance sheet is conservatively positioned with zero debt reported across all periods, limiting financial risk and providing flexibility. Equity has increased consistently (from ~¥0.93B in 2020 to ~¥2.66B in 2025), alongside a growing asset base, indicating ongoing business scaling without leverage. A limitation is that returns on equity have been uneven (strong in 2020–2021, weaker in 2022–2023, then improving again in 2024), suggesting profitability has not been consistently efficient through the cycle.

Cash Flow

Cash generation improved materially after 2022: operating cash flow and free cash flow are strong in 2023–2025, with 2025 free cash flow (~¥953M) nearly matching net income (high quality of earnings). However, cash flow has shown meaningful volatility—2022 had very weak operating cash flow and negative free cash flow, and the cash flow support versus reported operating profit appears modest based on the provided coverage figures, implying working-capital swings or timing effects can pressure cash conversion.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.93B	4.36B	3.59B	2.90B	2.56B	2.38B
Gross Profit	2.94B	3.14B	2.85B	2.46B	2.23B	2.05B
EBITDA	492.02M	838.91M	533.50M	178.03M	111.92M	381.04M
Net Income	308.48M	531.62M	338.92M	103.94M	50.78M	239.01M
Balance Sheet
Total Assets	6.99B	7.49B	5.83B	4.40B	3.46B	3.05B
Cash, Cash Equivalents and Short-Term Investments	2.06B	2.32B	1.91B	1.52B	1.45B	1.75B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	4.54B	4.83B	3.58B	2.50B	1.57B	1.22B
Stockholders Equity	2.45B	2.66B	2.25B	1.89B	1.89B	1.84B
Cash Flow
Free Cash Flow	0.00	952.74M	807.00M	482.00M	-57.02M	273.24M
Operating Cash Flow	0.00	963.79M	828.46M	496.00M	10.57M	330.92M
Investing Cash Flow	0.00	-480.15M	-456.60M	-320.96M	-316.95M	-126.22M
Financing Cash Flow	0.00	-117.08M	16.87M	-102.74M	6.41M	666.90M

Livero Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2253.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9245, the sentiment is Positive. The current price of 2253 is below the 20-day moving average (MA) of 2272.65, below the 50-day MA of 2268.04, and above the 200-day MA of 2117.86, indicating a bullish trend. The MACD of 2.45 indicates Negative momentum. The RSI at 51.56 is Neutral, neither overbought nor oversold. The STOCH value of 63.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9245.

Livero Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5570	79 Outperform	¥9.56B	16.00	―	0.90%	8.03%	16.91%
9245	69 Neutral	¥12.42B	22.75	―	1.35%	21.96%	17.76%
4644	65 Neutral	¥10.49B	24.66	―	4.52%	4.97%	-24.20%
5034	63 Neutral	¥9.16B	29.94	―	―	25.45%	138.14%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
4176	58 Neutral	¥6.83B	24.32	―	―	42.83%	26.89%
4436	41 Neutral	¥6.82B	-1.56	―	―	-0.30%	-304.34%