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Billing System Corporation
(3623)
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Rating:78Outperform
Price Target:
¥1,463.00
▲(14.57% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial performance—steady revenue growth, solid profitability, and a debt-free balance sheet—partly tempered by cash-flow and margin variability. Technicals are mildly positive (price above key moving averages with positive MACD), and valuation appears reasonable with a moderate P/E and supportive dividend yield.
Positive Factors
Consistent Revenue Growth
Revenue growth across several years indicates sustained demand and effective execution rather than a single-period benefit. Continued expansion provides a broader base for operating leverage, investment, and customer development, supporting the company’s ability to build earnings over the next several quarters.
Negative Factors
Volatile Cash Flow
Cash generation has not been consistently smooth, with negative operating and free cash flow in 2022 and a subsequent decline in 2024. Such variability makes internal funding less predictable and can complicate investment planning, even though the latest years show strong absolute cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
Revenue growth across several years indicates sustained demand and effective execution rather than a single-period benefit. Continued expansion provides a broader base for operating leverage, investment, and customer development, supporting the company’s ability to build earnings over the next several quarters.
Read all positive factors
Billing System Corporation (3623) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥8.18B
Dividend Yield2.03%
Average Volume (3M)36.07K
Price to Earnings (P/E)15.5
Beta (1Y)0.22
Revenue Growth13.25%
EPS Growth35.07%
CountryJP
Employees97
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)82.25
Shares Outstanding6,564,400
10 Day Avg. Volume42,100
30 Day Avg. Volume36,070
Financial Highlights & Ratios
PEG Ratio58.14
Price to Book (P/B)1.99
Price to Sales (P/S)1.37
P/FCF Ratio1.48
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)N/A
Revenue Forecast (FY)N/A
Billing System Corporation Business Overview & Revenue Model
Company Description
Headquartered in Tokyo, Japan, Billing System Corporation specializes in delivering a comprehensive suite of settlement services. The company's diverse offerings span numerous payment processing and agency functions, including facilitating account...
Billing System Corporation Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
88
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.93B | 4.55B | 4.22B | 3.78B | 3.43B | 3.14B |
| Gross Profit | 1.89B | 1.62B | 1.53B | 1.37B | 1.21B | 1.03B |
| EBITDA | 839.58M | 651.38M | 676.45M | 518.36M | 535.97M | 401.53M |
| Net Income | 515.74M | 408.02M | 406.90M | 300.06M | 323.04M | 224.02M |
Balance Sheet | ||||||
| Total Assets | 41.79B | 30.15B | 25.96B | 21.30B | 15.16B | 16.02B |
| Cash, Cash Equivalents and Short-Term Investments | 39.57B | 27.82B | 23.80B | 19.58B | 13.58B | 14.88B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 38.45B | 26.87B | 23.00B | 18.69B | 12.80B | 13.93B |
| Stockholders Equity | 3.19B | 3.13B | 2.83B | 2.50B | 2.26B | 2.00B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 4.20B | 4.31B | 6.00B | -1.14B | 6.26B |
| Operating Cash Flow | 0.00 | 4.20B | 4.36B | 6.13B | -1.12B | 6.33B |
| Investing Cash Flow | 0.00 | -37.85M | -48.31M | -66.15M | -112.51M | -86.03M |
| Financing Cash Flow | 0.00 | -147.85M | -80.69M | -66.76M | -66.83M | -155.66M |
Billing System Corporation Technical Analysis
Positive
1277.00
Price Trends
1102.96
Positive
1071.08
Positive
1047.72
Positive
Market Momentum
58.16
Negative
65.39
Neutral
52.16
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3623, the sentiment is Positive. The current price of 1277 is above the 20-day moving average (MA) of 1204.75, above the 50-day MA of 1102.96, and above the 200-day MA of 1047.72, indicating a bullish trend. The MACD of 58.16 indicates Negative momentum. The RSI at 65.39 is Neutral, neither overbought nor oversold. The STOCH value of 52.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3623.
Billing System Corporation Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | ¥9.53B | 15.09 | ― | 1.15% | 15.31% | 40.40% | |
83 Outperform | ¥68.18B | 29.34 | ― | 0.70% | 20.60% | 35.88% | |
78 Outperform | ¥8.18B | 15.48 | ― | 2.03% | 13.25% | 35.07% | |
73 Outperform | ¥13.60B | 8.38 | ― | 2.61% | -3.72% | 138.33% | |
69 Neutral | ¥663.62B | 26.12 | 21.67% | 1.66% | 13.19% | 25.73% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | ¥71.89B | 41.79 | ― | ― | 44.45% | 85.85% |
* Technology Sector Average
JP:3623
Billing System Corporation
1,273.00
164.48
14.84%
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Finatext Holdings Ltd.
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JP:4431
Smaregi, Inc.
3,420.00
184.02
5.69%
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.