COACH A Co., Ltd. (9339) AI Stock Analysis

• Market Cap: ¥2.95B
• Dividend Yield: 1.33%
• Average Volume (3M): 3.38K
• Price to Earnings (P/E): 29.8
• Beta (1Y): 0.38
• Revenue Growth: -7.47%
• EPS Growth: 378.86%
• Country: JP
• Employees: 147
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Education & Training Services
• EPS (TTM): 16.58
• Shares Outstanding: 2,366,722
• 10 Day Avg. Volume: 3,010
• 30 Day Avg. Volume: 3,376
• PEG Ratio: -2.68
• Price to Book (P/B): 0.98
• Price to Sales (P/S): 0.89
• P/FCF Ratio: 11.01
• 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: 60 Neutral
• Price Target: ¥1,294.00 ▼(-16.52% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is anchored by financial resilience (notably a debt-free balance sheet and improved 2025 cash conversion), but is held back by weakening growth/profitability versus 2022 and bearish technical momentum. A higher P/E with only a modest dividend yield further limits upside in the current setup.

Positive Factors

Debt-free balance sheet

Zero reported debt and steadily rising shareholders' equity through 2020–2025 provide durable solvency and financial flexibility. This reduces bankruptcy and refinancing risk, supports sustained capital allocation (investment, dividends, buybacks) and cushions the business through downturns.

Improving cash generation

A sharp improvement in operating cash flow and FCF roughly equal to net income in 2025 indicates stronger earnings quality and internal funding capacity. Over a multi-quarter horizon this supports self-funded growth, steadier dividends or buybacks, and less reliance on external capital.

Sustained positive margins

Recovery from the 2020 loss to positive operating and net margins for five consecutive years demonstrates a resilient cost structure and viable business model. Consistent profitability provides a baseline for reinvestment and indicates structural ability to generate earnings through cycles.

Negative Factors

Revenue decline

A near-term revenue contraction of almost 10% weakens top-line momentum and threatens scale economics. If the decline persists over several quarters, it can erode bargaining power, increase per-unit costs, and make sustained margin recovery and reinvestment materially harder.

Margin compression from 2022 peak

Net margin falling from ~11.6% to ~2.8% signals structural pressure on pricing or cost control versus the 2022 peak. Lower margins reduce ROE and internal funds for growth, leaving less buffer for investment or shocks and making long-term return generation more challenging.

Volatile cash flows

Historic volatility in operating cash flow reduces predictability of funding for capex, R&D, or shareholder returns. Even with 2025 improvement, cyclical swings complicate planning and raise the risk that strong cash years may not persist, constraining reliable long-term investment execution.

COACH A Co., Ltd. Business Overview & Revenue Model

Company Description

Coach A Co., Ltd. engages in the provision of organizational development services for corporations in Japan and internationally. The company, through its coaching institutes, provides executive and management member coaching, coach training, dialogue activation for management teams, coaching performance measurement, and related services. It also operates Ayce, a tool that coaches can utilize to measure the effectiveness of their coaching engagements; Hello, Coaching!, a coaching portal that offers useful coaching management tips and articles on coaching; and COACH A E-Newsletter, a platform that provides information related to coaching, leadership, transformation, etc., to meet the needs of executives in global firms. The company was founded in 1997 and is headquartered in Chiyoda, Japan.

How the Company Makes Money

COACH A Co., Ltd. generates revenue through its comprehensive coaching services, which are offered to businesses and individuals seeking to improve leadership capabilities and organizational effectiveness. The company charges fees for its coaching sessions, workshops, and training programs, which are often customized to meet the specific needs of its clients. Additionally, COACH A Co., Ltd. may engage in partnerships with corporations to provide ongoing development programs, which can be a significant source of recurring revenue. The company's earnings are bolstered by its reputation and the demand for skilled leadership in today's competitive business environment.

COACH A Co., Ltd. Financial Statement Overview

Summary

Overall fundamentals are supported by a very strong, debt-free balance sheet (solvency and flexibility) and improving 2025 cash generation with good earnings quality. Offsetting this, revenue declined in 2025 (-9.6% YoY) and profitability has materially compressed versus the 2022 peak, weakening the near-term earnings profile.

Income Statement

Profitability has recovered materially from the 2020 loss year, with positive operating and net margins in each of the last five annual reports. However, the earnings profile has weakened versus the 2022 peak: revenue is down in 2025 (-9.6% YoY) and margins have compressed meaningfully from 2022 levels (net margin ~2.8% in 2025 vs ~11.6% in 2022). Gross margin also declined from the 2022–2023 highs, signaling some pressure on pricing and/or cost structure despite still-positive operating profit.

Balance Sheet

The balance sheet is conservatively positioned with zero reported debt across all periods and steadily rising shareholders’ equity from 2020 to 2025, indicating strong solvency and financial flexibility. Total assets have been stable-to-up over time, and the company avoids leverage-driven risk. The main weakness is that returns on equity have cooled substantially from the exceptionally strong 2021–2022 period, consistent with the recent profitability normalization.

Cash Flow

Cash generation is solid and improving recently: operating cash flow more than doubled in 2025 versus 2024, and free cash flow in 2025 nearly matches reported net income, indicating good earnings quality. That said, cash flow has been volatile over the cycle (negative in 2020, very strong in 2021, then weaker in 2023–2024), which reduces predictability even though the latest year shows clear momentum.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.51B	3.50B	3.64B	3.65B	3.60B	3.31B
Gross Profit	1.50B	1.53B	1.69B	1.96B	1.93B	1.47B
EBITDA	248.33M	291.48M	245.00M	390.00M	566.13M	455.57M
Net Income	48.41M	98.82M	111.11M	75.88M	418.99M	245.26M
Balance Sheet
Total Assets	4.39B	4.47B	4.35B	4.30B	4.40B	3.12B
Cash, Cash Equivalents and Short-Term Investments	3.38B	3.42B	3.36B	3.40B	3.26B	2.15B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	1.38B	1.29B	1.28B	1.36B	1.53B	1.48B
Stockholders Equity	3.01B	3.18B	3.07B	2.94B	2.87B	1.64B
Cash Flow
Free Cash Flow	0.00	283.90M	101.76M	60.00M	413.46M	852.38M
Operating Cash Flow	0.00	286.09M	132.63M	63.00M	470.25M	957.44M
Investing Cash Flow	0.00	-203.12M	-206.88M	-61.78M	-55.04M	-62.12M
Financing Cash Flow	0.00	-46.57M	-46.00M	122.98M	708.50M	33.11M

COACH A Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1550.00
• 50DMA: Negative
• 100DMA: Negative
• 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:9339, the sentiment is Positive. The current price of 1550 is above the 20-day moving average (MA) of 1235.50, above the 50-day MA of 1273.26, and above the 200-day MA of 1237.50, indicating a neutral trend. The MACD of -5.77 indicates Negative momentum. The RSI at 49.67 is Neutral, neither overbought nor oversold. The STOCH value of 86.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9339.

COACH A Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9562	74 Outperform	¥3.40B	53.72	―	2.00%	25.16%	127.57%
7073	71 Outperform	¥2.17B	11.13	―	1.84%	10.26%	99.22%
4678	64 Neutral	¥2.34B	10.21	―	3.34%	1.92%	71.20%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
9339	60 Neutral	¥2.95B	29.79	―	1.33%	-7.47%	378.86%
3998	57 Neutral	¥2.20B	-458.68	―	―	-4.02%	-105.52%
4720	51 Neutral	¥2.38B	-20.33	―	―	-1.21%	-50.91%