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note inc.
(5243)
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Rating:65Neutral
Price Target:
¥3,386.00
▲(107.48% Upside)
Action:Reiterated
Date:10/08/26
The score is driven primarily by improving fundamentals (profitability turnaround, strong gross margins, and better cash generation) but is held back by a high P/E valuation and only mixed near-term technical signals (below the 20-day average with otherwise supportive longer-term trend).
Positive Factors
Revenue Expansion
Consistent revenue expansion indicates growing customer demand and business scale. Sustained top-line growth can support operating leverage, strengthen market position, and provide a durable base for reinvestment over the next several quarters.
Negative Factors
Modest Operating Margins
The gap between exceptionally high gross margins and more modest operating margins shows that costs below gross profit still consume a meaningful share of revenue. Sustaining recent earnings improvement therefore depends on continued operating cost discipline.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Expansion
Consistent revenue expansion indicates growing customer demand and business scale. Sustained top-line growth can support operating leverage, strengthen market position, and provide a durable base for reinvestment over the next several quarters.
Read all positive factors
note inc. (5243) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥60.58B
Dividend YieldN/A
Average Volume (3M)456.82K
Price to Earnings (P/E)47.0
Beta (1Y)0.83
Revenue Growth32.22%
EPS Growth312.16%
CountryJP
Employees158
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Application
Share Statistics
EPS (TTM)57.71
Shares Outstanding19,417,500
10 Day Avg. Volume930,200
30 Day Avg. Volume456,820
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)8.93
Price to Sales (P/S)6.21
P/FCF Ratio65.39
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)25.2
Revenue Forecast (FY)¥4.90B
note inc. Business Overview & Revenue Model
Company Description
note inc. engages in the media platform, and IP content and content creation business in Japan. The company offers note, a C2C content platform that allows creators to create, publish, and sell digital content while communicating with users; note ...
note inc. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
69
Positive
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.77B | 4.14B | 3.31B | 2.78B | 2.32B | 1.88B |
| Gross Profit | 4.39B | 3.88B | 3.11B | 2.56B | 2.08B | 1.63B |
| EBITDA | 777.88M | 277.08M | 86.15M | -398.79M | -733.26M | -418.75M |
| Net Income | 1.03B | 440.64M | 98.94M | -414.84M | -756.49M | -436.17M |
Balance Sheet | ||||||
| Total Assets | 10.93B | 6.15B | 3.77B | 3.31B | 3.30B | 1.75B |
| Cash, Cash Equivalents and Short-Term Investments | 7.37B | 3.06B | 2.15B | 1.99B | 2.19B | 872.08M |
| Total Debt | 0.00 | 682.50M | 80.00M | 160.00M | 160.00M | 160.00M |
| Total Liabilities | 3.21B | 3.27B | 2.05B | 1.75B | 1.49B | 1.18B |
| Stockholders Equity | 7.72B | 2.88B | 1.72B | 1.56B | 1.82B | 574.11M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 393.29M | 0.00 | -358.94M | -683.10M | -652.22M |
| Operating Cash Flow | 0.00 | 393.29M | 225.76M | -346.58M | -660.12M | -646.87M |
| Investing Cash Flow | -388.92M | -747.80M | -9.77M | -12.78M | -23.45M | -5.35M |
| Financing Cash Flow | 957.44M | 1.24B | -38.14M | 158.93M | 2.00B | 0.00 |
note inc. Technical Analysis
Positive
1632.00
Price Trends
2813.50
Positive
2394.36
Positive
2342.59
Positive
Market Momentum
170.07
Positive
49.03
Neutral
13.81
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5243, the sentiment is Positive. The current price of 1632 is below the 20-day moving average (MA) of 3232.75, below the 50-day MA of 2813.50, and below the 200-day MA of 2342.59, indicating a neutral trend. The MACD of 170.07 indicates Positive momentum. The RSI at 49.03 is Neutral, neither overbought nor oversold. The STOCH value of 13.81 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:5243.
note inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | ¥28.99B | 11.86 | ― | 0.65% | 16.53% | 76.82% | |
74 Outperform | ¥19.33B | 18.94 | ― | 0.49% | 31.11% | 0.55% | |
65 Neutral | ¥60.58B | 46.98 | ― | ― | 32.22% | 312.16% | |
58 Neutral | ¥6.57B | 21.08 | ― | ― | 6.06% | 1.12% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | ¥8.83B | 7.26 | 9.61% | 1.30% | -8.20% | 125.15% | |
44 Neutral | ¥2.32B | -2.27 | ― | ― | -3.89% | -527.81% |
* General Sector Average
JP:5243
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note inc. Corporate Events
note inc. outlines Q3 FY2026.11 results and AI-era growth strategy
Oct 6, 2026
note inc. has released its financial results for the third quarter of fiscal year 2026.11, outlining performance trends and updating investors on its earnings forecasts as it navigates evolving market conditions. While detailed figures were not di...
Note inc. Delivers Sharp Profit Surge and Stronger Balance Sheet in FY2026 Q3
Oct 6, 2026
Note inc. reported strong growth for the first three quarters of the fiscal year ending November 2026, with revenues rising 33.2% year on year to ¥4.06 billion and significant gains in profitability. Adjusted EBITDA surged more than fourfold,...
Note Inc. Delivers Record Q2 as AI-Driven Platform Economics Take Hold
Aug 14, 2026
Note Inc. reported record second-quarter fiscal 2026 results, with net sales rising 36.8% year on year to ¥1,385 million and sharp gains in adjusted EBITDA and operating profit. The company cited steady expansion of its core note, note pro, a...
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.