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Enechange Ltd.
(4169)
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Rating:54Neutral
Price Target:
¥250.00
▼(-14.68% Downside)
Action:Reiterated
Date:08/11/26
The score is primarily driven by improving financial trajectory (strong growth, high gross margins, and a return to positive operating/free cash flow), but held back by continued operating and net losses and a very high P/E valuation. Technicals are supportive due to strong momentum, though overbought readings add short-term risk.
Positive Factors
Strong revenue growth and high gross margins
Rapid revenue expansion combined with consistently high gross margins indicates a scalable software-like model and growing commercial traction. If maintained, this combination can support operating leverage, strengthen reinvestment capacity, and improve the company’s ability to convert growth into durable earnings.
Negative Factors
Persistent operating and net losses
Despite strong revenue growth and improving losses, the company has not yet demonstrated sustainable operating profitability. Persistent EBIT, EBITDA, and net losses limit internally generated earnings power, increase execution risk, and leave the business more dependent on continued growth to reach a durable profit model.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth and high gross margins
Rapid revenue expansion combined with consistently high gross margins indicates a scalable software-like model and growing commercial traction. If maintained, this combination can support operating leverage, strengthen reinvestment capacity, and improve the company’s ability to convert growth into durable earnings.
Read all positive factors
Enechange Ltd. (4169) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥10.52B
Dividend YieldN/A
Average Volume (3M)762.27K
Price to Earnings (P/E)30.1
Beta (1Y)0.80
Revenue Growth17.00%
EPS Growth52.02%
CountryJP
Employees191
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)8.13
Shares Outstanding42,935,207
10 Day Avg. Volume260,010
30 Day Avg. Volume762,266
Financial Highlights & Ratios
PEG Ratio-0.85
Price to Book (P/B)2.71
Price to Sales (P/S)1.84
P/FCF Ratio19.96
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)28.8
Revenue Forecast (FY)¥14.30B
Enechange Ltd. Business Overview & Revenue Model
Company Description
ENECHANGE Ltd., established in 2015 and based in Tokyo, Japan, operates at the forefront of the energy sector, offering both energy platform and energy data solutions. Its Energy Platform Business provides extensive services enabling residential a...
Enechange Ltd. Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
57
Neutral
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.50B | 6.70B | 5.37B | 4.38B | 3.73B | 3.02B |
| Gross Profit | 5.71B | 5.88B | 4.10B | 3.24B | 2.94B | 2.58B |
| EBITDA | 483.42M | 634.08M | -2.76B | -1.97B | -1.00B | 107.78M |
| Net Income | 347.92M | 130.92M | -1.02B | -4.99B | -1.32B | -85.59M |
Balance Sheet | ||||||
| Total Assets | 6.94B | 6.70B | 7.41B | 5.57B | 7.04B | 6.95B |
| Cash, Cash Equivalents and Short-Term Investments | 4.15B | 4.18B | 4.26B | 2.18B | 3.07B | 5.57B |
| Total Debt | 511.87M | 625.86M | 1.11B | 3.73B | 1.95B | 1.01B |
| Total Liabilities | 2.09B | 2.14B | 2.86B | 7.04B | 3.54B | 2.14B |
| Stockholders Equity | 4.85B | 4.55B | 4.55B | -1.48B | 3.50B | 4.81B |
Cash Flow | ||||||
| Free Cash Flow | 111.21M | 617.23M | -4.37B | -3.02B | -2.19B | 470.43M |
| Operating Cash Flow | 127.69M | 654.94M | 220.93M | -1.91B | -1.91B | 481.69M |
| Investing Cash Flow | -24.35M | 91.31M | -3.40B | -1.39B | -1.55B | -552.95M |
| Financing Cash Flow | -207.50M | -515.62M | 5.28B | 2.38B | 958.45M | 4.30B |
Enechange Ltd. Technical Analysis
Negative
293.00
Price Trends
259.08
Negative
244.28
Positive
260.96
Negative
Market Momentum
-5.16
Positive
42.88
Neutral
56.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4169, the sentiment is Negative. The current price of 293 is above the 20-day moving average (MA) of 262.55, above the 50-day MA of 259.08, and above the 200-day MA of 260.96, indicating a bearish trend. The MACD of -5.16 indicates Positive momentum. The RSI at 42.88 is Neutral, neither overbought nor oversold. The STOCH value of 56.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4169.
Enechange Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ¥24.75B | 18.22 | ― | 0.89% | 40.53% | 32.41% | |
76 Outperform | ¥10.83B | 16.18 | ― | 3.06% | 15.39% | 23.76% | |
64 Neutral | ¥24.72B | -42.49 | ― | ― | 398.87% | 12.91% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | ¥36.86B | 78.84 | ― | ― | 22.56% | ― | |
54 Neutral | ¥10.52B | 30.14 | ― | ― | 17.00% | 52.02% | |
46 Neutral | ¥16.33B | 188.60 | ― | ― | -83.13% | ― |
* Technology Sector Average
JP:4169
Enechange Ltd.
245.00
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-31.37%
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17.47%
Enechange Ltd. Corporate Events
ENECHANGE Hit with FSA Penalty but Confirms No Earnings Impact
Sep 25, 2026
ENECHANGE Ltd., a Japan-based energy tech company listed on the TSE Growth market, provides digital and data-driven services that help utilities and consumers optimize electricity usage and improve energy efficiency. Its business relies heavily on...
ENECHANGE Details Capital Allocation Roadmap Toward FY27 Profit Target
Sep 25, 2026
ENECHANGE Ltd., a Tokyo-listed energy tech firm, builds its business around online residential energy switching and AI inspection services. These segments are presented as core, cash-generative operations underpinning the company’s medium-te...
ENECHANGE Completes Nearly ¥1 Billion Share Buyback on TSE
Sep 25, 2026
ENECHANGE Ltd. has completed a share buyback program authorized by its board on June 22, 2026, purchasing 3,245,700 common shares via market transactions on the Tokyo Stock Exchange. The aggregate purchase price totaled JPY 999,970,800, with the a...
ENECHANGE Strikes AI Inspection Alliance with Flight PILOT to Advance Decentralized Energy Strategy
Aug 24, 2026
ENECHANGE Ltd. has agreed to acquire a 19.89% stake in Flight PILOT Co., Ltd. and purchase its AI-powered image-recognition and damage-detection inspection software, aligning with a broader strategy to transform inspection and maintenance of decen...
ENECHANGE Posts Lower Q1 Revenue but Confirms Earnings Rebound Forecast for FY 2027
Aug 7, 2026
ENECHANGE reported consolidated revenue of ¥1,345 million for the quarter ended June 30, 2026, down 13% year on year, but managed to stay in the black with operating profit of ¥49 million and profit attributable to owners of parent of &#...
ENECHANGE Accepts ¥91.5 Million Administrative Penalty and Pledges Governance Improvements
Aug 5, 2026
ENECHANGE Ltd. has disclosed that Japan’s Securities and Exchange Surveillance Commission recommended an administrative monetary penalty of 91,495,000 JPY to the Prime Minister and the Commissioner of the Financial Services Agency. Following...
ENECHANGE to Acquire DARWIN Inc. in Strategic Roll-Up Move into Energy Infrastructure Inspections
Aug 5, 2026
ENECHANGE Ltd. has agreed to acquire all outstanding shares of DARWIN Inc., converting the emergency power generator inspection specialist into a wholly owned subsidiary. The move marks ENECHANGE’s entry into the AI- and DX-driven inspection...
ENECHANGE details AI field strategy, buyback timing and EV focus in July FAQ
Jul 17, 2026
ENECHANGE Ltd. has published a July 2026 FAQ to improve transparency with investors, clarifying the timing of its share buyback, strategy, and exposure to energy market volatility. The company will start treasury share acquisitions after its Augus...
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.