Slogan, Inc. (9253) AI Stock Analysis

• Market Cap: ¥1.97B
• Dividend Yield: N/A
• Average Volume (3M): 2.75K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.19
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: JP
• Employees: 109
• Sector: Industrials
• Sector Strength: 72
• Industry: Staffing & Employment Services
• EPS (TTM): -7.52
• Shares Outstanding: 2,769,875
• 10 Day Avg. Volume: 2,270
• 30 Day Avg. Volume: 2,746
• PEG Ratio: -5.22
• Price to Book (P/B): 1.09
• Price to Sales (P/S): 1.22
• 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): 228.9
• Revenue Forecast (FY): ¥3.35B

• Rating: 71 Outperform
• Price Target: ¥895.00 ▲(8.09% Upside)
• Action: Reiterated Date: 01/08/26
• Date: Action: Reiterated 01/08/26

The score is primarily supported by a very low-risk balance sheet and overall solid (though recently less stable) profitability. Offsetting this are mixed cash-flow consistency and only neutral-to-mild technical momentum. Valuation is moderately attractive based on the current P/E.

Positive Factors

Very low leverage / strong balance sheet

A debt-free capital structure and materially growing equity materially reduce financial distress risk and preserve optionality. This durability supports investment, M&A flexibility, and resilience through economic cycles, enabling multi-month stability in operations and strategic choices.

Revenue rebound and growth momentum

A strong rebound with ~45% top-line growth indicates restored demand or successful commercial execution. If sustained, this supports longer-term revenue base expansion, better capacity utilization, and the potential to recover margins over the next several quarters.

Operating cash flow recovery

Consistent positive operating cash flows in recent years improve self-funding capacity and reduce dependence on external finance. That trend enhances durability of operations and funds working capital and reinvestment needs over the medium term, strengthening financial stability.

Negative Factors

Margin compression and earnings instability

Sustained margin compression reduces core earnings power and returns on capital, making profitability more sensitive to cost or revenue shocks. Variable earnings hinder predictable reinvestment and dividend capacity, increasing medium-term operational risk despite top-line growth.

Inconsistent free cash flow conversion

Volatile FCF undermines the company's ability to fund investments, cover distribution or absorb shocks without altering strategy. A drop to zero FCF in the latest year raises concern about conversion of earnings into cash and could constrain strategic options over the coming months.

Small scale and limited diversification

A small workforce suggests limited geographic, client, and service diversification typical in staffing firms. This scale constraint can limit bargaining power, operational redundancies, and the ability to absorb client losses, increasing structural business risk over a multi-month horizon.

Slogan, Inc. Business Overview & Revenue Model

Company Description

Slogan Inc. provides human resource support services to various industries. It operates as a recruitment support service provider for startups and venture companies. It offers Goodfind, a carefully selected job-hunting platform for new graduates; FactLogic, a consulting job hunting service; Intern Street, a long-term intern recruitment service for students; Goodfind Career, an agent specializing in recruiting ventures and startups; and G3, a career support service for high-potential human resources up to the third year of working. The company also provides FastGrow, a business media for young innovative human resources; TeamUp, a SaaS-type HR service that approaches organizational issues after joining the company; and Metanobi, a video x experiential learning platform. Slogan Inc. was incorporated in 2005 and is headquartered in Tokyo, Japan.

Slogan, Inc. Financial Statement Overview

Summary

Strong balance sheet strength (no debt; growing equity) supports a high-quality financial profile. Profitability is solid but less stable, with meaningful margin compression versus 2022–2023 and more variable earnings. Cash flow is improving but inconsistent, with free cash flow reported as 0 in 2025.

Income Statement

Revenue has been volatile (down in 2024, then rebounded strongly in 2025 with ~45% growth). Profitability remains solid with mid-single-digit net margins in 2024–2025, but margins have compressed meaningfully versus 2022–2023 as EBIT and net income declined from prior peaks. Overall, the business is profitable with strong gross profitability, but earnings power has been less stable recently.

Balance Sheet

The balance sheet is conservatively positioned with essentially no leverage in 2024–2025 (debt-to-equity at 0.0 and total debt at 0), and equity has grown materially over time. Returns on equity are positive but have moderated versus earlier years, reflecting lower profitability rather than financial risk. Key strength is very low balance-sheet risk; key weakness is cooling return profile.

Cash Flow

Cash generation is mixed: operating cash flow improved in 2024–2025 (positive in both years) after a weak 2023 (negative). Free cash flow was strong in 2022 and 2024, but is reported as 0 in 2025, suggesting weaker conversion or higher reinvestment needs in the latest period. Overall, cash flow is improving but remains less consistent than earnings and the balance sheet.

Breakdown	TTM	Feb 2025	Feb 2024	Feb 2023	Feb 2022	Feb 2021
Income Statement
Total Revenue	1.55B	1.35B	1.42B	1.47B	1.42B	1.31B
Gross Profit	1.52B	1.32B	1.35B	1.42B	1.37B	1.26B
EBITDA	292.86M	124.98M	159.79M	210.75M	266.65M	72.39M
Net Income	174.18M	86.84M	91.44M	139.63M	207.81M	49.63M
Balance Sheet
Total Assets	2.46B	2.10B	1.97B	1.90B	2.00B	1.17B
Cash, Cash Equivalents and Short-Term Investments	2.16B	1.74B	1.65B	1.66B	1.82B	825.40M
Total Debt	0.00	0.00	0.00	1.71M	21.70M	48.11M
Total Liabilities	779.42M	589.91M	529.25M	525.88M	771.82M	681.21M
Stockholders Equity	1.68B	1.51B	1.44B	1.37B	1.23B	491.77M
Cash Flow
Free Cash Flow	0.00	0.00	115.72M	-63.11M	441.81M	4.18M
Operating Cash Flow	0.00	175.60M	115.72M	-63.11M	441.81M	4.18M
Investing Cash Flow	0.00	-34.31M	-55.44M	-82.86M	56.25M	1.74M
Financing Cash Flow	0.00	-47.48M	-67.00M	-14.67M	493.94M	-51.01M

Slogan, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9242	81 Outperform	¥2.29B	1.46	―	1.03%	29.39%	116.52%
7089	75 Outperform	¥8.13B	9.23	―	―	21.37%	93.71%
9253	71 Outperform	¥1.97B	-26.16	―	―	―	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
7064	57 Neutral	¥2.60B	-26.57	―	―	14.50%	-51.06%
3900	51 Neutral	¥10.68B	426.22	―	2.24%	32.39%	-127.51%
9331	44 Neutral	¥1.35B	30.71	―	―	3.33%	-80.47%