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Nulab Inc.
(5033)
Select Model
Select Model
Rating:67Neutral
Price Target:
¥1,272.00
▲(71.66% Upside)
Action:Downgraded
Date:09/06/26
The score is driven primarily by a strong financial foundation (especially the de-risked, low-debt balance sheet) and strong technical momentum. These positives are offset by a demanding valuation (high P/E) and recent profitability and cash flow compression that raises questions about near-term earnings power.
Positive Factors
Recurring SaaS Revenue
Recurring subscription revenue can support predictable cash inflows and durable customer relationships when teams depend on collaboration and project-management tools. The cloud model also provides a foundation for expanding usage through plan tiers, upgrades, and broader organizational adoption over time.
Negative Factors
Cooling Revenue Growth
Slower revenue growth signals weakening expansion in the current period and may reduce the pace at which recurring revenue compounds. If this persists, Nulab may have less ability to spread fixed costs, invest aggressively, or strengthen its competitive position.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring SaaS Revenue
Recurring subscription revenue can support predictable cash inflows and durable customer relationships when teams depend on collaboration and project-management tools. The cloud model also provides a foundation for expanding usage through plan tiers, upgrades, and broader organizational adoption over time.
Read all positive factors
Nulab Inc. (5033) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥7.60B
Dividend YieldN/A
Average Volume (3M)43.30K
Price to Earnings (P/E)45.8
Beta (1Y)0.64
Revenue Growth7.04%
EPS Growth-67.36%
CountryJP
Employees207
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)27.72
Shares Outstanding6,484,101
10 Day Avg. Volume102,810
30 Day Avg. Volume43,303
Financial Highlights & Ratios
PEG Ratio-0.37
Price to Book (P/B)2.28
Price to Sales (P/S)1.03
P/FCF Ratio17.04
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
Nulab Inc. Business Overview & Revenue Model
Company Description
Nulab Inc. develops various software solutions aimed at improving team cooperation and productivity. Their offerings include Backlog, a robust system for managing projects; Nulab Pass, a utility designed to strengthen an organization's data securi...
How the Company Makes Money
Nulab primarily makes money by charging customers for access to its software products under a recurring subscription (SaaS) model. Under this model, organizations and teams pay periodic fees (typically monthly or annually) based on plan tiers and/...
Nulab Inc. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
86
Very Positive
Cash Flow
58
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.39B | 4.11B | 3.66B | 2.71B | 2.33B |
| Gross Profit | 3.24B | 2.96B | 2.64B | 1.73B | 1.42B |
| EBITDA | 474.82M | 753.00M | 424.12M | 179.14M | 266.01M |
| Net Income | 178.55M | 552.68M | 308.16M | 88.42M | 197.88M |
Balance Sheet | |||||
| Total Assets | 4.52B | 4.25B | 3.48B | 2.61B | 1.62B |
| Cash, Cash Equivalents and Short-Term Investments | 2.98B | 3.13B | 2.48B | 1.74B | 1.13B |
| Total Debt | 2.03M | 5.00M | 8.00M | 13.75M | 58.69M |
| Total Liabilities | 2.54B | 2.34B | 2.15B | 1.66B | 1.23B |
| Stockholders Equity | 1.98B | 1.91B | 1.33B | 958.63M | 391.25M |
Cash Flow | |||||
| Free Cash Flow | 264.67M | 724.95M | 694.57M | 169.40M | 321.29M |
| Operating Cash Flow | 282.67M | 749.13M | 811.90M | 297.32M | 401.01M |
| Investing Cash Flow | -350.51M | -128.81M | -110.72M | -130.74M | -74.35M |
| Financing Cash Flow | -99.61M | -1.00M | 16.87M | 417.41M | -95.27M |
Nulab Inc. Technical Analysis
Positive
741.00
Price Trends
895.82
Positive
820.02
Positive
787.67
Positive
Market Momentum
62.85
Negative
78.96
Negative
87.36
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5033, the sentiment is Positive. The current price of 741 is below the 20-day moving average (MA) of 914.05, below the 50-day MA of 895.82, and below the 200-day MA of 787.67, indicating a bullish trend. The MACD of 62.85 indicates Negative momentum. The RSI at 78.96 is Negative, neither overbought nor oversold. The STOCH value of 87.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:5033.
Nulab Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥10.12B | 8.97 | ― | 1.95% | 12.61% | 49.51% | |
72 Outperform | ¥7.15B | 26.46 | ― | 1.16% | 37.13% | -7.58% | |
68 Neutral | ¥6.81B | 15.20 | ― | ― | 23.42% | 457.78% | |
67 Neutral | ¥7.60B | 45.80 | ― | ― | 7.04% | -67.36% | |
63 Neutral | ¥15.14B | 20.74 | ― | ― | 14.06% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | ¥6.12B | -27.02 | ― | ― | -8.74% | -144.28% |
* Technology Sector Average
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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.