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CyberAgent
(4751)
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Rating:69Neutral
Price Target:
¥1,430.00
▲(7.72% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by solid financial performance (revenue growth, improving operating margins, healthier leverage, and strong cash conversion), offset by low net profitability and volatile free cash flow growth. Technicals are mixed with neutral momentum and a slight near-term weakness versus the 20-day average, while valuation appears reasonable with a modest dividend yield.
Positive Factors
Improving operating efficiency
Improving gross, EBIT and EBITDA margins indicate better cost management and operating efficiency. This can support more durable earnings growth as CyberAgent scales its advertising, media and content platforms.
Negative Factors
Low net profitability
A 3.6% net margin leaves limited room to absorb cost increases, content investment or weaker advertising demand. Sustained improvement in operating profits may not fully translate into shareholder returns unless below-the-line profitability also strengthens.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving operating efficiency
Improving gross, EBIT and EBITDA margins indicate better cost management and operating efficiency. This can support more durable earnings growth as CyberAgent scales its advertising, media and content platforms.
Read all positive factors
CyberAgent (4751) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥672.85B
Dividend Yield1.27%
Average Volume (3M)3.88M
Price to Earnings (P/E)15.5
Beta (1Y)0.53
Revenue Growth13.74%
EPS Growth77.61%
CountryJP
Employees8,150
SectorCommunication Services
Sector Strength97
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)86.00
Shares Outstanding507,105,380
10 Day Avg. Volume5,836,460
30 Day Avg. Volume3,877,900
Financial Highlights & Ratios
PEG Ratio0.29
Price to Book (P/B)4.90
Price to Sales (P/S)1.03
P/FCF Ratio13.34
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥1,883.00Price Target Upside41.85% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)84.4
Revenue Forecast (FY)¥950.84B
CyberAgent Business Overview & Revenue Model
Company Description
Headquartered in Tokyo, Japan, and established in 1998, CyberAgent, Inc. maintains a varied business portfolio primarily across the Japanese market. Its operations encompass media, online advertising, game development, and strategic investments. T...
How the Company Makes Money
CyberAgent makes money primarily by monetizing internet audiences and advertiser demand across its advertising and media businesses, and by generating consumer spend in its entertainment/content operations. Key revenue streams include: (1) Interne...
CyberAgent Earnings Call Summary
Earnings Call Date:Oct 30, 2024
(Q4-2024)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The earnings call reflects a positive overall performance with significant growth in the media and game businesses, stable growth in advertising, and expansion in workforce. However, one-time losses in the media business and flat operating profit projections for the next fiscal year present some challenges.Positive Updates
Strong Performance in Media Business
ABEMA sales have grown significantly, with shrinking losses leading to an increase in sales and profits. The business is expected to book operating profits from FY 2025 onwards.
Negative Updates
One-time Losses in Media Business
The media business experienced one-time losses this quarter, impacting short-term financial results.
Read all updates
Q4-2024 Updates
Positive
Negative
Strong Performance in Media Business
ABEMA sales have grown significantly, with shrinking losses leading to an increase in sales and profits. The business is expected to book operating profits from FY 2025 onwards.
Read all positive updates
Company Guidance
During CyberAgent's FY 2024 earnings call, President Susumu Fujita highlighted several key metrics and developments across the company's business sectors. The Media business, particularly ABEMA, showed significant growth in sales, with losses shrinking, leading to increased profitability. The Internet advertising sector maintained stable growth with a focus on advertising effectiveness, resulting in double-digit operating profit (OP) growth for the fourth consecutive quarter. The game sector experienced a recovery, with new titles contributing to a rise in sales and profits, while the Uma Musume IP continued to thrive with collaborations and new content. The company is also focusing on nurturing IPs and expanding its content offerings, including anime and films, as part of its mid- to long-term strategy. The total number of employees reached nearly 8,000, and the company emphasized efforts to maintain DOE and ROE above the Tokyo Stock Exchange average. For FY 2025, the company anticipates steady growth in sales and profitability, driven by ongoing investments in technology, AI, and new game developments.CyberAgent Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 951.31B | 874.03B | 801.24B | 719.45B | 709.92B | 666.15B |
| Gross Profit | 300.83B | 264.05B | 218.76B | 191.65B | 218.51B | 231.68B |
| EBITDA | 97.36B | 75.77B | 41.89B | 28.56B | 69.97B | 110.54B |
| Net Income | 43.60B | 31.67B | 15.98B | 3.54B | 22.90B | 41.24B |
Balance Sheet | ||||||
| Total Assets | 551.17B | 557.16B | 516.69B | 475.22B | 381.93B | 382.23B |
| Cash, Cash Equivalents and Short-Term Investments | 227.17B | 246.19B | 228.25B | 218.61B | 182.36B | 200.42B |
| Total Debt | 96.86B | 95.04B | 111.03B | 107.08B | 46.26B | 42.44B |
| Total Liabilities | 253.27B | 281.48B | 266.18B | 246.77B | 160.68B | 188.43B |
| Stockholders Equity | 209.00B | 183.75B | 158.28B | 143.05B | 144.34B | 129.85B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 67.44B | 43.39B | 10.31B | 1.02B | 105.78B |
| Operating Cash Flow | 0.00 | 78.16B | 50.07B | 23.39B | 17.95B | 109.61B |
| Investing Cash Flow | 0.00 | -30.82B | -38.33B | -40.29B | -31.41B | -24.52B |
| Financing Cash Flow | 0.00 | -33.86B | -5.20B | 53.49B | -2.80B | -3.64B |
CyberAgent Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
88 Outperform | ¥29.19B | 11.51 | ― | 5.35% | 4.88% | -5.77% | |
76 Outperform | ¥107.56B | 19.14 | ― | 7.03% | 7.63% | 69.82% | |
69 Neutral | ¥672.85B | 15.53 | 23.16% | 1.15% | 13.74% | 77.61% | |
65 Neutral | ¥453.62B | 29.49 | 4.36% | 2.45% | -6.00% | 96.86% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | ¥917.64B | -4.58 | -59.78% | 3.80% | 3.87% | 23.48% | |
43 Neutral | ¥10.46B | 5.34 | ― | ― | 10.01% | ― |
* Communication Services Sector Average
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CyberAgent Corporate Events
CyberAgent Lifts FY2026 Profit Outlook and Boosts Dividend on Strong Digital Business Performance
Aug 7, 2026
CyberAgent has sharply upgraded its forecast for the fiscal year ending September 30, 2026, citing stronger-than-expected results across its Media IP, Internet Advertising, and Game operations. The company now expects net sales of 950 billion yen...
CyberAgent Lifts FY2026 Outlook and Dividend on Strong Nine-Month Earnings
Aug 7, 2026
CyberAgent reported strong consolidated results for the first nine months of FY2026, with net sales rising 12.2% year on year to ¥709.3 billion and net income attributable to owners of the parent surging 49.5% to ¥36.0 billion. Operating...
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.