Succeed co.,ltd. (9256) AI Stock Analysis

• Market Cap: ¥2.95B
• Dividend Yield: 2%
• Average Volume (3M): 3.35K
• Price to Earnings (P/E): 12.6
• Beta (1Y): 0.58
• Revenue Growth: 9.34%
• EPS Growth: -3.26%
• Country: JP
• Employees: 86
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Education & Training Services
• EPS (TTM): 14.60
• Shares Outstanding: 3,578,700
• 10 Day Avg. Volume: 5,120
• 30 Day Avg. Volume: 3,353
• PEG Ratio: 0.78
• Price to Book (P/B): 1.19
• Price to Sales (P/S): 0.83
• P/FCF Ratio: 12.24
• 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: 76 Outperform
• Price Target: ¥903.00 ▲(10.53% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is driven primarily by strong financial quality (notably the near-zero leverage balance sheet and steady growth). Valuation is supportive with a moderate P/E and a ~2% dividend yield, while the main constraint is weak technical positioning with the price below key moving averages and negative MACD.

Positive Factors

Balance Sheet Strength

A near-zero leverage balance sheet enhances financial flexibility and reduces solvency risk, supporting long-term stability and growth.

Revenue Growth

Steady revenue growth indicates strong market demand and effective business strategies, contributing to long-term business sustainability.

Cash Generation

Consistent positive cash flow supports ongoing operations and investment opportunities, ensuring the company's ability to fund growth initiatives.

Negative Factors

Margin Compression

Margin compression can indicate rising costs or pricing pressure, potentially impacting profitability and requiring strategic adjustments.

Operating Cash Flow Coverage

Limited operating cash flow coverage of profits suggests potential volatility in cash generation, affecting liquidity management and investment capacity.

Profitability Normalization

Normalization of profitability may reflect increased competition or market saturation, challenging the company to innovate and maintain competitive advantages.

Succeed co.,ltd. Business Overview & Revenue Model

Company Description

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How the Company Makes Money

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Succeed co.,ltd. Financial Statement Overview

Summary

Strong overall fundamentals supported by steady revenue growth and healthy profitability, plus an exceptionally conservative balance sheet with effectively zero debt. Key offsets are margin compression versus the 2022–2023 peak and weaker operating-cash-flow conversion relative to profits in recent years.

Income Statement

Revenue has expanded steadily from 2020 to 2025 (annual report), with the latest year showing strong growth versus the prior year. Profitability remains healthy (positive operating and net margins), but margins have compressed versus the 2022–2023 peak (gross, operating, and net margins all lower in 2024–2025). Net income is positive and growing again in 2025 after a softer 2024, indicating improving momentum, though the longer-term trend suggests some pressure on pricing and/or costs.

Balance Sheet

The balance sheet is very conservative: total debt is effectively zero in recent years and the debt-to-equity ratio is 0. Equity has grown consistently alongside assets, supporting financial flexibility and lowering solvency risk. Returns on equity are solid (generally low-double-digits recently), though below the stronger levels seen earlier in the period—suggesting profitability has normalized even as the capital base has expanded.

Cash Flow

Cash generation is positive, with free cash flow positive each year and generally tracking net income reasonably well (free cash flow is a large portion of net income in most years). However, operating cash flow has covered a relatively modest portion of reported profits in recent years (around ~0.50–0.76 from 2021–2025), which points to working-capital or timing effects that can add volatility. Free cash flow growth has also been uneven (notably a decline in 2023), though it stabilized and remained positive in 2024–2025.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	3.58B	3.47B	3.23B	2.94B	2.59B	1.99B
Gross Profit	664.18M	638.22M	578.07M	624.87M	617.44M	424.19M
EBITDA	399.91M	395.72M	347.90M	394.71M	436.00M	278.00M
Net Income	268.45M	259.94M	223.33M	269.09M	280.54M	173.42M
Balance Sheet
Total Assets	3.15B	3.00B	2.76B	2.46B	2.20B	1.27B
Cash, Cash Equivalents and Short-Term Investments	2.39B	2.37B	2.29B	2.06B	1.84B	950.27M
Total Debt	5.11M	0.00	0.00	0.00	0.00	3.27M
Total Liabilities	661.47M	583.31M	555.00M	483.92M	492.10M	382.50M
Stockholders Equity	2.47B	2.42B	2.21B	1.98B	1.71B	887.96M
Cash Flow
Free Cash Flow	0.00	235.07M	228.74M	195.80M	343.42M	214.06M
Operating Cash Flow	0.00	266.17M	271.13M	224.34M	345.65M	217.55M
Investing Cash Flow	0.00	-144.54M	-48.66M	-6.13M	28.60M	-11.11M
Financing Cash Flow	0.00	-48.91M	6.00M	2.00M	519.50M	-3.73M

Succeed co.,ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 817.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9256, the sentiment is Positive. The current price of 817 is below the 20-day moving average (MA) of 821.55, above the 50-day MA of 814.58, and below the 200-day MA of 819.38, indicating a bullish trend. The MACD of 6.06 indicates Negative momentum. The RSI at 69.65 is Neutral, neither overbought nor oversold. The STOCH value of 81.57 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9256.

Succeed co.,ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9256	76 Outperform	¥2.95B	12.59	―	2.00%	9.34%	-3.26%
2179	74 Outperform	¥4.56B	9.30	―	2.60%	8.85%	-1.34%
4645	68 Neutral	¥3.46B	3.73	―	2.20%	1.82%	208.53%
4678	64 Neutral	¥2.29B	10.01	―	3.34%	1.92%	71.20%
4705	63 Neutral	¥3.25B	-23.59	―	5.52%	-3.09%	-305.97%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
4720	51 Neutral	¥2.35B	-20.05	―	―	-1.21%	-50.91%