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Synspective Inc. (290A) AI Stock Analysis

2 Followers
JP:290A

Synspective Inc.

(TSE/TYO:290A)

Select Model
Rating:50Neutral
Price Target:JPY 1,313.00▲(0.00% Upside)
Action:reiterated
Date:09/20/26

The score is primarily constrained by weak financial performance (persistent operating losses and structurally negative free cash flow, with added risk from rising debt). Technicals are a meaningful offset, showing a clear uptrend and supportive momentum. Valuation remains a headwind due to the very high P/E and lack of a dividend yield.

Positive Factors
Weather-independent SAR intelligenceSAR capability supports persistent earth observation when optical systems may be constrained by darkness or weather. This expands the usefulness of infrastructure monitoring, disaster response, and risk assessment services, creating a durable basis for government and enterprise demand.
Negative Factors
Persistent operating lossesDeep and persistent operating losses show that current revenue scale has not yet translated into an economically sustainable business model. Continued losses can restrict internal funding, require additional capital, and make profitability dependent on substantial improvement in costs, pricing, or sales productivity.

Synspective Inc. (290A) vs. iShares MSCI Japan ETF (EWJ)

-25%0%25%50%75%100%125%150%JP:290A+48.03%EWJ+15.75%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
JPY 163.25B
Dividend Yield
―
Average Volume (3M)
1.27M
Price to Earnings (P/E)
144.7
Beta (1Y)
0.20
Revenue Growth
5.10%
EPS Growth
―
Country
Japan
Employees
228
Sector
Industrials
Sector Strength
63
Industry
Aerospace & Defense

Synspective Inc. Business Overview & Revenue Model

Company Description

Synspective, Inc. provides solutions services with satellite data. It develops and operates small synthetic aperture radar satellites. The firm also offers remote monitoring services.

Synspective Inc. Financial Statement Overview

Summary

Strong multi-year revenue expansion and improved capitalization are positives, and operating cash flow turning positive in 2025 is an encouraging inflection. However, the core profile is weighed down by persistently deep negative EBITDA/EBIT, large net losses, volatile gross profit (notably weakening in 2025 vs. 2024), and consistently strongly negative free cash flow alongside rising debt.

Income Statement

22Negative

Balance Sheet

58Neutral

Cash Flow

24Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022
Income Statement
Total Revenue2.74B2.38B2.32B1.39B492.41M
Gross Profit-599.12M7.77M226.76M830.61M360.35M
EBITDA543.01M962.70M-2.23B-1.34B-6.18B
Net Income694.88M-371.16M-3.59B-1.52B-6.27B
Balance Sheet
Total Assets50.00B49.37B28.20B11.31B9.89B
Cash, Cash Equivalents and Short-Term Investments16.21B24.54B14.24B4.47B6.60B
Total Debt10.65B9.38B7.29B3.03B501.00M
Total Liabilities12.06B10.58B8.32B3.44B1.80B
Stockholders Equity37.95B38.79B19.87B7.87B8.09B
Cash Flow
Free Cash Flow0-9.96B-9.16B-5.96B-6.68B
Operating Cash Flow01.66B-1.80B-2.34B-4.18B
Investing Cash Flow0-11.63B-7.46B-3.64B-2.50B
Financing Cash Flow020.27B19.03B3.84B5.93B

Synspective Inc. Technical Analysis

Technical Analysis SentimentPositive
Last Price1313.00

Price Trends

50DMA1359.70Negative
100DMA1312.05Positive
200DMA1340.99Negative

Market Momentum

MACD-27.12Negative
RSI52.96Neutral
STOCH51.67Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:290A, the sentiment is Positive. The current price of 1313.00 is above the 20-day moving average (MA) of 1220.55, below the 50-day MA of 1359.70, and below the 200-day MA of 1340.99, indicating a neutral trend. The MACD of -27.12 indicates Negative momentum. The RSI at 52.96 is Neutral, neither overbought nor oversold. The STOCH value of 51.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:290A.

Synspective Inc. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (63)

Financial Indicators

JP:290A against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
JP:3636JP:363678OutperformJPY 79.63B12.49―3.53%3.79%0.50%
JP:5137JP:513777OutperformJPY 11.77B19.24――35.69%99.90%
JP:2391JP:239167NeutralJPY 7.68B18.43―3.82%-0.42%3.45%
Sector *63Neutral$10.79B15.437.44%2.01%2.89%-14.66%
JP:5574JP:557460NeutralJPY 20.20B18.61――27.68%126.99%
JP:6182JP:618252NeutralJPY 4.56B4766.67――0.06%-96.75%
JP:290AJP:290A50NeutralJPY 169.52B144.67――5.10%―

* Industrials Sector Average

Performance Comparison

-50%0%50%100%JP:290AJP:2391JP:3636JP:5137JP:5574JP:6182Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
JP:290A and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
JP:290ASynspective Inc.1313.00345.0035.64%
JP:2391Planet, Inc.1151.00-34.70-2.93%
JP:3636Mitsubishi Research Institute5100.00250.375.16%
JP:5137Smart Drive Co. Ltd.309.00-209.00-40.35%
JP:5574ABEJA,Inc.2041.00-758.00-27.08%
JP:6182Metareal Corp.429.00-52.00-10.81%

Synspective Inc. Corporate Events

Synspective Signs Agreement for Up to 10 Dedicated Alpha Launches

Nov 10, 2026

Synspective has signed an agreement with Firefly Aerospace for up to 10 dedicated Alpha rocket launches through 2030, with each mission carrying two StriX satellites and up to 20 satellites in total. The company says this doubles the number placed in...

Synspective Secures 20-Launch Deal with Rocket Lab for Satellite Expansion

Sep 30, 2026

Synspective Inc., a TSE Growth-listed space and satellite data company, is building out its Earth observation capabilities through a growing constellation of satellites and associated analytics services. The business model depends on stable access to...

Synspective Adds 13th Small SAR Satellite to Expanding StriX Constellation

Sep 27, 2026

Synspective Inc. has successfully placed its 13th small SAR satellite in the StriX series into orbit using Rocket Lab USA’s Electron rocket, launched from New Zealand’s Mahia Peninsula on September 26, 2026, Japan time. The satellite’s antenna deploy...

Synspective Successfully Orbits 12th Small SAR Satellite in StriX Series

Sep 23, 2026

Synspective has successfully launched and deployed its 12th small SAR satellite in the StriX series, using Rocket Lab USA’s Electron rocket from Launch Complex 1 in New Zealand. The satellite’s antenna deployment and initial communications tests conf...

Synspective Secures ¥20 Billion Syndicated Loan to Expand SAR Satellite Constellation

Sep 17, 2026

Synspective Inc. has secured a 20 billion yen syndicated term loan arranged by Mizuho Bank, with participation from multiple major Japanese banks, to fund the manufacture and launch of SAR satellites that underpin its constellation strategy. The unse...

Synspective Cuts Launch Insurance Costs With New Excess-Deductible Structure

Sep 17, 2026

Synspective Inc. has approved a new launch insurance contract for nine of its small SAR satellites, including the 13th StriX unit, structured with an excess deductible that leaves the first launch failure among the covered missions uninsured. Insuran...

Synspective Launches OMNIA to Share SAR Constellation Capacity Among Global Users

Sep 14, 2026

Synspective Inc. has approved the introduction of Synspective OMNIA, a new program that allows multiple government and corporate users worldwide to share capacity on its small SAR satellite constellations. The scheme is designed to give participants...

Synspective’s 11th SAR Satellite Reaches Orbit, Boosts Growing Constellation

Sep 2, 2026

Synspective has successfully launched its 11th small SAR satellite in the StriX series aboard Rocket Lab USA Inc.’s Electron rocket from New Zealand’s Mahia Peninsula. The satellite has reached its target orbit, deployed its antenna and established c...

Synspective to Relocate Tokyo Headquarters and Triple SAR Satellite Output Capacity

Aug 14, 2026

Synspective Inc. will relocate its head office from Koto-ku to Chuo-ku, Tokyo, with the move becoming effective on November 1, 2026, following earlier shareholder approval to amend its Articles of Incorporation. The new headquarters in Harumi Island...

Synspective Posts Strong Revenue Growth but Expects Profit Turnaround in 2026

Aug 14, 2026

Synspective reported total revenue of ¥3,918 million for the six months ended June 30, 2026, up 186.5% year-on-year, driven by both net sales growth and government subsidies, while net sales alone rose 27.4% to ¥1,691 million.Despite this strong topl...

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.

Date of analysis: Sep 20, 2026