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Linical Co., Ltd.
(2183)
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Rating:50Neutral
Price Target:
¥210.00
▼(-28.33% Downside)
Action:Reiterated
Date:08/18/26
The score is held back primarily by the sharp recent deterioration in profitability and the shift to negative operating/free cash flow. Technical indicators are broadly neutral with the stock still below longer-term moving averages, while valuation gets limited support from a relatively high dividend yield but is constrained by loss-making results (negative P/E).
Positive Factors
CRO Business Model
The fee-based CRO model serves sponsors that outsource complex clinical development work, creating a recurring need for trial planning, execution, and project support as drug development pipelines advance.
Negative Factors
Revenue Contraction
The revenue decline signals weaker project activity or execution and reduces operating leverage in a service business, making recovery dependent on rebuilding sponsor demand and stabilizing the clinical program pipeline.
Read all positive and negative factors
Positive Factors
Negative Factors
CRO Business Model
The fee-based CRO model serves sponsors that outsource complex clinical development work, creating a recurring need for trial planning, execution, and project support as drug development pipelines advance.
Read all positive factors
Linical Co., Ltd. (2183) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥4.65B
Dividend Yield3.86%
Average Volume (3M)14.99K
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue Growth-21.55%
EPS Growth-497.97%
CountryJP
Employees577
SectorHealthcare
Sector Strength45
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)-167.75
Shares Outstanding24,740,000
10 Day Avg. Volume18,600
30 Day Avg. Volume14,993
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.46
Price to Sales (P/S)0.67
P/FCF Ratio-3.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)29.7
Revenue Forecast (FY)¥13.00B
Linical Co., Ltd. Business Overview & Revenue Model
Company Description
Linical Co., Ltd., a global contract research organization provides full spectrum of drug development services to pharmaceutical companies worldwide. The company offers drug development consulting services, such as market analysis of products in d...
How the Company Makes Money
Linical primarily makes money by providing fee-based CRO services to sponsors (e.g., pharmaceutical and biotech companies) that outsource clinical development work. Revenue is typically generated through service contracts tied to specific clinical...
Linical Co., Ltd. Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
55
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.95B | 8.67B | 10.44B | 12.31B | 12.52B | 11.56B |
| Gross Profit | 119.13M | 753.13M | 2.01B | 3.43B | 3.84B | 3.34B |
| EBITDA | -2.19B | -1.54B | -46.50M | 1.25B | 1.76B | 1.54B |
| Net Income | -3.79B | -3.33B | -539.10M | 338.27M | 1.00B | 790.49M |
Balance Sheet | ||||||
| Total Assets | 11.06B | 12.00B | 16.78B | 18.54B | 17.46B | 15.72B |
| Cash, Cash Equivalents and Short-Term Investments | 4.68B | 5.20B | 7.04B | 7.47B | 7.04B | 5.99B |
| Total Debt | 2.04B | 2.25B | 2.42B | 3.00B | 3.63B | 4.19B |
| Total Liabilities | 7.85B | 8.02B | 9.52B | 10.30B | 9.88B | 9.17B |
| Stockholders Equity | 3.21B | 3.98B | 7.25B | 8.24B | 7.58B | 6.54B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.55B | 602.21M | 1.08B | 1.85B | 1.64B |
| Operating Cash Flow | 0.00 | -1.52B | 605.10M | 1.11B | 1.86B | 1.68B |
| Investing Cash Flow | 0.00 | -1.96M | -54.93M | -70.47M | -31.79M | -32.14M |
| Financing Cash Flow | 0.00 | -513.25M | -939.22M | -960.92M | -957.33M | -951.55M |
Linical Co., Ltd. Technical Analysis
Negative
293.00
Price Trends
208.02
Negative
222.55
Negative
261.03
Negative
Market Momentum
-0.66
Negative
48.33
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2183, the sentiment is Negative. The current price of 293 is above the 20-day moving average (MA) of 207.10, above the 50-day MA of 208.02, and above the 200-day MA of 261.03, indicating a bearish trend. The MACD of -0.66 indicates Negative momentum. The RSI at 48.33 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2183.
Linical Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | ¥4.65B | -1.23 | ― | 5.44% | -21.55% | -497.97% | |
49 Neutral | ¥4.25B | 130.87 | ― | ― | 2.37% | ― | |
45 Neutral | ¥7.07B | -6.16 | ― | ― | 12.73% | 25.71% | |
45 Neutral | ¥14.94B | -32.46 | ― | ― | -18.71% | -246.54% | |
42 Neutral | ¥5.17B | -5.50 | ― | ― | ― | ― |
* Healthcare Sector Average
JP:2183
Linical Co., Ltd.
207.00
-118.93
-36.49%
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Linical Co., Ltd. Corporate Events
Linical’s Quarterly Loss Widens as Sales Drop in Japan, U.S. and Europe
Aug 14, 2026
Linical Co., Ltd., a Japan-based contract research organization, offers clinical trial and development services to pharmaceutical and biotech companies across Japan, the U.S., Europe, Korea and Taiwan. Its revenues are driven by the volume and pro...
Linical Posts Deeper Quarterly Loss but Keeps Full-Year Outlook and Dividend Plan
Aug 14, 2026
Linical reported a sharp deterioration in results for the three months to June 30, 2026, with net sales down 27.2% year-on-year to ¥1,912 million and a quarterly loss attributable to owners of parent of ¥636 million. Net income per share...
Linical Records Dividend Income from Korean Subsidiary
Aug 5, 2026
Linical Co., Ltd., a Japan-based contract research organization serving pharmaceutical and biotechnology companies, operates an international network of subsidiaries including LINICAL KOREA CO., LTD. This structure supports its focus on global cli...
Linical Releases FY2026 Results and Sets Outlook for FY2027
Jun 30, 2026
Linical Co., Ltd. reported its consolidated financial results for the fiscal year ended March 31, 2026, outlining performance over the period and giving investors a structured view of its recent business trends. The release also presented forecast...
Linical Cuts Year-End Dividend in Shift Toward Profit Recovery and Cash Discipline
Jun 1, 2026
Linical Co., Ltd. has approved a year-end dividend of JPY 8.00 per share for the fiscal year ended March 31, 2026, with a total payout of about JPY 180.7 million and an effective payment date of June 9, 2026. The dividend matches the latest foreca...
Linical Lifts Hard Backlog to ¥13.0 Billion on New Contract Wins
May 22, 2026
Linical Co., Ltd. reported updated hard backlog figures following the completion of two projects that had previously been in contract execution procedures. The company’s hard backlog, representing contracted sales to be realized over the nex...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.