Fukui Computer Holdings (9790) AI Stock Analysis

• Market Cap: ¥69.68B
• Dividend Yield: 2.16%
• Average Volume (3M): 37.51K
• Price to Earnings (P/E): 12.4
• Beta (1Y): 0.53
• Revenue Growth: 10.89%
• EPS Growth: -4.99%
• Country: JP
• Employees: 549
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 63.29
• Shares Outstanding: 20,700,000
• 10 Day Avg. Volume: 38,810
• 30 Day Avg. Volume: 37,506
• PEG Ratio: 1.72
• Price to Book (P/B): 2.59
• Price to Sales (P/S): 4.76
• P/FCF Ratio: 14.31
• 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): 205.35
• Revenue Forecast (FY): ¥15.78B

• Rating: 78 Outperform
• Price Target: ¥3,591.00 ▲(12.39% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is driven primarily by strong financial performance (high profitability, debt-free balance sheet, and solid cash conversion). Technicals are moderately positive but not fully bullish due to longer-term moving averages and an elevated stochastic. Valuation is reasonable with a supportive dividend yield, but growth volatility in the latest financial data keeps the score below the high end.

Positive Factors

Strong Financial Position

A debt-free balance sheet with rising equity provides financial flexibility and reduces risk, supporting long-term stability and growth potential.

High Profit Margins

High profit margins indicate strong pricing power and operational efficiency, which are crucial for sustaining profitability in the competitive software industry.

Cash Generation Ability

Strong cash generation supports the company's ability to reinvest in growth opportunities and return capital to shareholders, enhancing long-term value.

Negative Factors

Uneven Revenue Growth

Volatile revenue growth raises concerns about the company's ability to maintain consistent expansion, potentially impacting investor confidence and strategic planning.

Profit Decline

A decline in profits, despite sales growth, suggests challenges in cost management or market conditions, which could pressure future earnings and strategic initiatives.

Cash Flow Variability

Variability in cash flow coverage indicates potential issues with working capital management, which could affect liquidity and operational flexibility.

Fukui Computer Holdings Business Overview & Revenue Model

Company Description

Fukui Computer Holdings,Inc. develops and sells package CAD products for the construction industry in Japan. It offers ARCHITREND Zero, a 3D architectural CAD system for design works; 3D Catalog.com, a 3D simulation site for building materials/equipment and housing; GLOOBE, a BIM building design and construction support system; TREND-ONE, a surveying CAD system; EX-TREND Musashi, a civil engineering construction management system for contractor and the civil engineering construction companies; TREND-POINT, a 3D point cloud processing system; and One Click Counter, an election exit poll system, as well as customer support services. The company was formerly known as Fukui Computer, Inc. and changed its name to Fukui Computer Holdings,Inc. in July 2012. Fukui Computer Holdings,Inc. was incorporated in 1979 and is headquartered in Fukui, Japan.

How the Company Makes Money

Fukui Computer Holdings generates revenue through the sale of its software and hardware solutions tailored to the construction and surveying industries. Its primary revenue streams include licensing fees for CAD software, sales of construction management systems, and distribution of surveying instruments. The company also offers maintenance services and updates for its software products, providing an additional stream of recurring revenue. Significant partnerships with construction firms and governmental bodies further contribute to its earnings by expanding its customer base and enhancing the adoption of its technology solutions.

Fukui Computer Holdings Financial Statement Overview

Summary

Very strong overall financial quality: consistently high gross margins (~77%–79%) and net margins (~26%–29%), an exceptionally conservative balance sheet with zero debt and rising equity, and robust free-cash-flow conversion (~87%–96% of net income). The main offset is uneven growth, including a sharp negative revenue growth figure in the latest year’s data and some variability in cash-flow coverage (notably weaker in FY2023).

Income Statement

Profitability is a clear strength, with consistently very high gross margins (~77%–79%) and strong net margins (~26%–29%) across the period, indicating solid pricing power and operating leverage. Earnings have generally grown alongside revenue over time, but growth has been uneven: revenue declined in FY2023, recovered modestly in FY2024, and FY2025 shows an unusually large negative revenue growth figure in the data, which raises concerns about near-term momentum and/or reporting comparability. Overall, strong margins support the score, tempered by the volatility/step-down implied in the latest growth rate.

Balance Sheet

The balance sheet is exceptionally conservative with zero debt reported each year and a steadily rising equity base, which materially reduces financial risk and provides flexibility in a downturn. Returns on equity remain healthy (mid-teens to mid-20% historically, ~15% most recently), suggesting the company is still generating attractive profits without leverage. The main watch item is that returns on equity have come down from earlier highs, implying some normalization in profitability or a larger equity base.

Cash Flow

Cash generation is strong and broadly aligns with reported profits: free cash flow is a large portion of net income (~87%–96%), supporting earnings quality. Operating cash flow coverage is around ~0.96–0.99 in the last two years (near one-for-one with net income), although it dipped meaningfully in FY2023 (~0.61), pointing to occasional working-capital or timing swings. Free cash flow has grown strongly in some years but also showed declines in others, so the trajectory is positive overall but not perfectly smooth.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	15.19B	14.72B	13.82B	13.63B	14.33B	12.84B
Gross Profit	12.09B	11.65B	10.75B	10.69B	11.16B	10.17B
EBITDA	6.72B	6.41B	5.80B	5.86B	6.51B	5.41B
Net Income	4.37B	4.19B	3.82B	3.81B	4.22B	3.53B
Balance Sheet
Total Assets	32.79B	33.04B	29.76B	26.74B	24.59B	21.16B
Cash, Cash Equivalents and Short-Term Investments	19.58B	21.17B	19.83B	18.05B	17.03B	13.60B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	5.84B	5.94B	5.36B	5.06B	5.63B	5.45B
Stockholders Equity	26.95B	27.10B	24.41B	21.68B	18.96B	15.71B
Cash Flow
Free Cash Flow	0.00	4.90B	4.58B	2.85B	4.46B	3.97B
Operating Cash Flow	0.00	5.65B	4.86B	2.98B	4.65B	4.22B
Investing Cash Flow	0.00	-2.97B	-1.84B	-714.00M	-188.00M	-237.00M
Financing Cash Flow	0.00	-1.34B	-1.24B	-1.24B	-1.03B	-929.00M

Fukui Computer Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3195.00
• 50DMA: Positive
• 100DMA: Positive
• 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:9790, the sentiment is Positive. The current price of 3195 is below the 20-day moving average (MA) of 3303.00, below the 50-day MA of 3258.10, and above the 200-day MA of 3157.15, indicating a bullish trend. The MACD of 44.04 indicates Negative momentum. The RSI at 58.95 is Neutral, neither overbought nor oversold. The STOCH value of 58.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9790.

Fukui Computer Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9790	78 Outperform	¥69.68B	12.38	13.96%	2.16%	10.89%	-4.99%
4828	77 Outperform	¥78.94B	21.08	31.13%	1.68%	16.12%	46.57%
9692	73 Outperform	¥62.88B	13.97	―	2.41%	13.05%	4.42%
4323	72 Outperform	¥50.87B	23.84	―	1.50%	13.48%	35.63%
4776	70 Outperform	¥99.33B	18.51	―	1.02%	26.47%	142.77%
9629	68 Neutral	¥35.81B	20.63	―	4.58%	4.58%	-15.00%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Fukui Computer Holdings Corporate Events

Fukui Computer Holdings Reports Strong Sales Growth Amidst Profit Decline

Fukui Computer Holdings reported a 13% increase in net sales for the six months ending September 30, 2025, compared to the previous year, with operating and ordinary profits also seeing significant growth. However, profit attributable to owners of the parent decreased by 18.7%. The company maintains a strong financial position with a high shareholders’ equity ratio, and it forecasts continued growth in net sales and profits for the fiscal year ending March 31, 2026.