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eWeLL Co.,Ltd
(5038)
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Rating:80Outperform
Price Target:
¥2,374.00
▲(10.26% Upside)
Action:Reiterated
Date:08/29/26
The score is primarily supported by very strong financial quality (high margins, debt-free balance sheet, and strong cash conversion). Technicals are moderately constructive with price above key moving averages, but valuation is less attractive due to a higher P/E and low dividend yield, which tempers the overall rating.
Positive Factors
Long-term revenue compounding
Revenue has expanded more than fourfold across 2020–2025, demonstrating sustained adoption of the company’s healthcare workflow solutions. This multi-year compounding provides a durable foundation for scale, broader provider penetration, and continued investment in the platform.
Negative Factors
Revenue growth moderation
The sharp moderation in annual revenue growth suggests the company may be moving from an earlier expansion phase toward a more mature trajectory. Slower growth could reduce operating leverage, constrain future earnings compounding, and require stronger execution to sustain momentum.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-term revenue compounding
Revenue has expanded more than fourfold across 2020–2025, demonstrating sustained adoption of the company’s healthcare workflow solutions. This multi-year compounding provides a durable foundation for scale, broader provider penetration, and continued investment in the platform.
Read all positive factors
eWeLL Co.,Ltd (5038) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥32.93B
Dividend Yield0.74%
Average Volume (3M)47.63K
Price to Earnings (P/E)27.2
Beta (1Y)0.95
Revenue Growth27.32%
EPS Growth20.92%
CountryJP
Employees107
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Application
Share Statistics
EPS (TTM)79.29
Shares Outstanding15,271,802
10 Day Avg. Volume26,190
30 Day Avg. Volume47,633
Financial Highlights & Ratios
PEG Ratio1.10
Price to Book (P/B)11.78
Price to Sales (P/S)11.72
P/FCF Ratio32.38
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)88.15
Revenue Forecast (FY)¥4.17B
eWeLL Co.,Ltd Business Overview & Revenue Model
Company Description
Established in 2012 and headquartered in Osaka, Japan, eWeLL Co.,Ltd. is a developer of cloud-based business support services specifically designed for visiting nursing stations throughout Japan. Their core offerings include iBow, a Software-as-a-...
How the Company Makes Money
eWeLL Co.,Ltd primarily generates revenue by providing services to healthcare/care providers (notably home-visit nursing operators) that help manage and run their operations. Key revenue streams typically include fees for the use of its platforms/...
eWeLL Co.,Ltd Financial Statement Overview
Summary
Income Statement
92
Very Positive
Balance Sheet
95
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.78B | 3.39B | 2.57B | 2.07B | 1.60B | 1.19B |
| Gross Profit | 2.90B | 2.65B | 1.94B | 1.60B | 1.26B | 969.51M |
| EBITDA | 1.81B | 1.64B | 1.22B | 967.84M | 725.48M | 414.60M |
| Net Income | 1.20B | 1.09B | 808.26M | 612.90M | 449.56M | 340.29M |
Balance Sheet | ||||||
| Total Assets | 4.35B | 4.28B | 3.10B | 2.41B | 1.65B | 1.06B |
| Cash, Cash Equivalents and Short-Term Investments | 2.81B | 2.86B | 1.97B | 1.41B | 1.08B | 617.07M |
| Total Debt | 0.00 | 0.00 | 0.00 | 91.50M | 96.06M | 180.62M |
| Total Liabilities | 808.39M | 908.43M | 687.05M | 719.78M | 544.97M | 557.12M |
| Stockholders Equity | 3.54B | 3.38B | 2.41B | 1.69B | 1.11B | 504.15M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.23B | 839.09M | 440.68M | 527.34M | 347.06M |
| Operating Cash Flow | 0.00 | 1.27B | 856.79M | 626.91M | 543.38M | 408.64M |
| Investing Cash Flow | 0.00 | -210.38M | -77.89M | -217.84M | -136.43M | -73.75M |
| Financing Cash Flow | 0.00 | -168.38M | -225.88M | -71.36M | 51.19M | -44.56M |
eWeLL Co.,Ltd Technical Analysis
Positive
2153.00
Price Trends
2127.80
Positive
2006.42
Positive
2189.87
Negative
Market Momentum
-2.38
Positive
53.02
Neutral
66.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5038, the sentiment is Positive. The current price of 2153 is above the 20-day moving average (MA) of 2135.65, above the 50-day MA of 2127.80, and below the 200-day MA of 2189.87, indicating a neutral trend. The MACD of -2.38 indicates Positive momentum. The RSI at 53.02 is Neutral, neither overbought nor oversold. The STOCH value of 66.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:5038.
eWeLL Co.,Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥32.93B | 27.19 | ― | 0.74% | 27.32% | 20.92% | |
80 Outperform | ¥19.81B | 19.13 | ― | 3.53% | -2.50% | -17.10% | |
79 Outperform | ¥30.13B | 14.44 | ― | 5.96% | 8.18% | 35.49% | |
77 Outperform | ¥39.74B | 17.67 | ― | 1.48% | 34.68% | 552.65% | |
68 Neutral | ¥6.46B | 14.42 | ― | ― | 23.42% | 457.78% | |
59 Neutral | ¥49.29B | 38.27 | ― | 0.25% | 28.94% | -29.21% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:5038
eWeLL Co.,Ltd
2,156.00
-656.72
-23.35%
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eWeLL Co.,Ltd Corporate Events
eWeLL Outlines FY12/2026 2Q Results and Investor Briefing Highlights
Aug 26, 2026
eWeLL Co., Ltd. held a financial results briefing for the second quarter of the fiscal year ending December 2026, led by President and Representative Director Norito Nakano. The company released supporting materials and a transcript summarizing ma...
eWeLL Delivers Strong 1H FY2026 Results and Expands AI Home-Visit Routing Service
Aug 20, 2026
eWeLL Co., Ltd. reported strong financial results for the first half of FY12/2026, with sales rising 24.2% year on year to JPY1,991 million and operating profit increasing 20.1% to JPY946 million, driving a robust operating margin of 47.5%. Manage...
eWeLL Delivers Strong First-Half Earnings and Lifts Full-Year Dividend Forecast
Aug 14, 2026
eWeLL Co., Ltd. reported strong interim non-consolidated results for the six months ended June 30, 2026, with net sales rising 24.2% year on year to ¥1,991 million and net income climbing 21.1% to ¥663 million, driven by higher 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.