Paycloud Holdings Inc. (4015) AI Stock Analysis

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Paycloud Holdings Inc.

(TSE/TYO:4015)

Select Model

Rating:45Neutral

Price Target:JPY 352.00▲(0.86% Upside)

Action:reiterated

Date:11/11/26

The overall score is weighed down significantly by a severe deterioration in cash flow generation, which is a major red flag despite a solid balance sheet. This is compounded by a strongly bearish technical trend, with the stock trading deep below all key moving averages and exhibiting weak momentum. The low P/E ratio offers some valuation appeal but is insufficient to offset the fundamental and technical headwinds.

Positive Factors

Revenue ScalingThe substantial expansion in revenue demonstrates that Paycloud has built a materially larger business over several years, while the return to consistent profitability indicates improving commercial execution. Continued scale can broaden the earnings base and support reinvestment over the next several quarters.

Negative Factors

Cash Flow DeteriorationThe sharp decline in operating and free cash flow weakens the quality of reported earnings and reduces internally generated funding for growth. If cash conversion remains below accounting profit, the company may have less flexibility to invest, repay obligations, or absorb future operating volatility.

Paycloud Holdings Inc. (4015) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 5.40B
Dividend Yield: ―
Average Volume (3M): 41.18K
Price to Earnings (P/E): 13.2
Beta (1Y): 1.05
Revenue Growth: 8.88%
EPS Growth: 191.06%
Country: Japan
Employees: 301
Sector: Technology
Sector Strength: 61
Industry: Specialty Business Services

Paycloud Holdings Inc. Business Overview & Revenue Model

Company Description

Paycloud Holdings Inc. provides technology solutions in Japan and internationally. It operates through the Cashless Service Business, Digital Signage Related Business, Solution Business, and Other Businesses segments. The company provides end-user se...

Paycloud Holdings Inc. Financial Statement Overview

Summary

Financial performance is mixed. The balance sheet is solid (Score: 72) after significant deleveraging, but the income statement shows declining margins and thin profitability (Score: 45). Critically, cash flow generation has severely deteriorated (Score: 18), with operating cash flow plummeting over 85%, indicating poor earnings quality. The overall financial health is precarious due to weak cash conversion.

Income Statement

45Neutral

Balance Sheet

72Positive

Cash Flow

18Very Negative

Financial statement breakdown
Breakdown	TTM	Aug 2026	Aug 2025	Aug 2024	Aug 2023	Aug 2022
Income Statement
Total Revenue	11.14B	11.14B	10.23B	6.85B	4.48B	1.17B
Gross Profit	4.06B	4.06B	3.75B	3.01B	2.30B	747.52M
EBITDA	1.31B	1.31B	1.19B	696.26M	497.63M	-123.23M
Net Income	418.90M	418.90M	143.75M	74.15M	114.13M	-1.83B
Balance Sheet
Total Assets	9.33B	9.33B	9.54B	8.26B	4.40B	4.04B
Cash, Cash Equivalents and Short-Term Investments	3.83B	3.83B	4.37B	3.23B	1.49B	1.09B
Total Debt	1.71B	1.71B	1.77B	1.84B	1.26B	1.93B
Total Liabilities	4.59B	4.59B	5.01B	4.05B	2.24B	2.61B
Stockholders Equity	4.74B	4.74B	4.53B	4.22B	2.16B	1.43B
Cash Flow
Free Cash Flow	0	195.31M	1.39B	1.16B	542.00M	-226.96M
Operating Cash Flow	0	227.87M	1.41B	1.16B	561.86M	-218.22M
Investing Cash Flow	0	-452.02M	-272.80M	-19.77M	-87.64M	-194.09M
Financing Cash Flow	0	-312.68M	10.99M	121.07M	-80.73M	-96.72M

Paycloud Holdings Inc. Technical Analysis

Technical Analysis SentimentNegative

Last Price349.00

Price Trends

50DMA498.34Negative

100DMA515.44Negative

200DMA492.38Negative

Market Momentum

MACD-48.90Positive

RSI28.42Positive

STOCH22.60Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4015, the sentiment is Negative. The current price of 349.00 is below the 20-day moving average (MA) of 464.90, below the 50-day MA of 498.34, and below the 200-day MA of 492.38, indicating a bearish trend. The MACD of -48.90 indicates Positive momentum. The RSI at 28.42 is Positive, neither overbought nor oversold. The STOCH value of 22.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4015.

Paycloud Holdings Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

JP:4015 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:9629	81Outperform	JPY 29.67B	15.44	―	6.05%	8.61%	30.21%
JP:4477	73Outperform	JPY 36.56B	15.34	―	1.65%	36.14%	304.76%
JP:3835	67Neutral	JPY 15.71B	15.64	―	4.29%	1.86%	-12.57%
JP:5588	63Neutral	JPY 6.76B	27.92	―	0.62%	25.25%	-49.30%
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
JP:5027	59Neutral	JPY 44.93B	34.59	―	0.28%	28.94%	-29.21%
JP:4015	45Neutral	JPY 5.67B	13.17	―	―	8.88%	191.06%

* Technology Sector Average

Performance Comparison

JP:4015 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:4015	Paycloud Holdings Inc.	349.00	-157.00	-31.03%
JP:3835	eBASE Co., Ltd.	348.00	-87.49	-20.09%
JP:4477	BASE, Inc.	303.00	-37.82	-11.10%
JP:5027	AnyMind Group Inc.	724.00	-5.68	-0.78%
JP:5588	Fast Accounting Co.,Ltd.	595.00	-790.90	-57.07%
JP:9629	PCA Corporation	1590.00	-104.22	-6.15%

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: Nov 11, 2026

Paycloud Holdings Inc. AI Stock Analysis