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ispace,inc.
(9348)
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Rating:44Neutral
Price Target:
¥368.00
▼(-14.62% Downside)
Action:Reiterated
Date:10/12/26
The score is primarily held down by very weak financial performance (deep losses, negative gross profit, and sustained heavy cash burn) and increasing balance-sheet risk from rising debt. Technical indicators also point to a clear downtrend (price below major moving averages and negative MACD), though oversold readings slightly mitigate the technical score. Valuation is not supportive given the negative P/E and lack of dividend yield data.
Positive Factors
Integrated lunar mission-services model
An integrated offering spanning spacecraft development, operations, and payload delivery can capture more value per mission than a narrowly focused service. It also creates a single provider for customers seeking lunar access, supporting repeat relationships as the cislunar economy develops.
Negative Factors
Severe unprofitability and revenue contraction
Negative gross profit and very large operating losses indicate that current mission activity is not yet covering the cost base. The sharp revenue decline further weakens operating leverage, making sustained funding needs more likely and limiting the company’s ability to reinvest from internally generated earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated lunar mission-services model
An integrated offering spanning spacecraft development, operations, and payload delivery can capture more value per mission than a narrowly focused service. It also creates a single provider for customers seeking lunar access, supporting repeat relationships as the cislunar economy develops.
Read all positive factors
ispace,inc. (9348) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥55.46B
Dividend YieldN/A
Average Volume (3M)647.77K
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue Growth-56.20%
EPS Growth37.51%
CountryJP
Employees333
SectorGeneral
Sector StrengthN/A
IndustryComputer Hardware
Share Statistics
EPS (TTM)-82.68
Shares Outstanding146,324,860
10 Day Avg. Volume1,076,250
30 Day Avg. Volume647,766
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)3.54
Price to Sales (P/S)16.26
P/FCF Ratio-3.46
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)-88.33
Revenue Forecast (FY)¥3.31B
ispace,inc. Business Overview & Revenue Model
Company Description
ispace, Inc., established in Tokyo, Japan, in 2010, operates as a pioneering company focused on the utilization of lunar resources. The firm specializes in the engineering and construction of spacecraft designed to land on the moon and rovers for ...
How the Company Makes Money
ispace’s revenue model is primarily based on selling lunar mission services, where customers pay for the transportation and delivery of payloads to lunar orbit and/or the lunar surface using the company’s landers, along with associated mission int...
ispace,inc. Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
38
Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.31B | 3.31B | 4.74B | 2.36B | 989.24M | 674.14M |
| Gross Profit | -7.71B | -2.85B | 2.24B | 928.24M | 552.77M | 334.59M |
| EBITDA | -15.46B | -11.35B | -9.63B | -5.42B | -10.95B | -4.00B |
| Net Income | -11.61B | -8.15B | -11.95B | -2.37B | -11.40B | -4.06B |
Balance Sheet | ||||||
| Total Assets | 40.90B | 47.70B | 27.19B | 27.03B | 7.19B | 12.49B |
| Cash, Cash Equivalents and Short-Term Investments | 25.70B | 29.69B | 13.12B | 16.83B | 3.38B | 6.33B |
| Total Debt | 29.76B | 29.44B | 16.39B | 12.86B | 6.78B | 2.16B |
| Total Liabilities | 32.24B | 32.53B | 20.18B | 17.29B | 9.54B | 3.66B |
| Stockholders Equity | 8.66B | 15.17B | 7.01B | 9.75B | -2.35B | 8.83B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -15.56B | -14.49B | -7.05B | -7.38B | -5.45B |
| Operating Cash Flow | 0.00 | -13.19B | -12.05B | -5.02B | -7.32B | -5.41B |
| Investing Cash Flow | 0.00 | -2.20B | -2.67B | -2.06B | -90.09M | -90.33M |
| Financing Cash Flow | 0.00 | 31.45B | 10.42B | 20.37B | 4.36B | 7.46B |
ispace,inc. Technical Analysis
Negative
431.00
Price Trends
414.50
Negative
455.60
Negative
489.09
Negative
Market Momentum
-8.59
Positive
27.81
Positive
14.31
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9348, the sentiment is Negative. The current price of 431 is above the 20-day moving average (MA) of 406.05, above the 50-day MA of 414.50, and below the 200-day MA of 489.09, indicating a bearish trend. The MACD of -8.59 indicates Positive momentum. The RSI at 27.81 is Positive, neither overbought nor oversold. The STOCH value of 14.31 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9348.
ispace,inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥57.92B | 15.70 | ― | 3.76% | -13.68% | -35.04% | |
71 Outperform | ¥4.54T | 11.89 | ― | 3.38% | 3.26% | 121.86% | |
60 Neutral | ¥1.08T | 43.97 | 2.90% | 2.37% | 8.34% | -41.57% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ¥6.91B | 28.47 | ― | 4.15% | 15.03% | ― | |
44 Neutral | ¥55.46B | -4.58 | ― | ― | -56.20% | 37.51% |
* General Sector Average
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ispace,inc. Corporate Events
ispace Signs Argo Launch Deal to Fast-Track Lunar Communications Mission
Sep 17, 2026
ispace, inc. has approved a launch contract for its U.S. subsidiary with California-based Argo Space Corp. to deploy “Alpine,” a lunar orbit communications satellite, as part of Mission 2.5 as early as 2027. The mission, repurposed fro...
ispace Secures ¥3 Billion Covenanted Loan to Bolster Liquidity for Lunar Missions
Sep 9, 2026
ispace, inc. has approved a new long-term financing arrangement with The Shizuoka Bank, Ltd., securing a 3 billion yen loan to fund working capital for mission development and related expenses. The three-year, floating-rate facility, to be repaid ...
Ispace Widens Quarterly Loss as Revenue Plunges but Keeps Aggressive Lunar Growth Plan
Aug 7, 2026
Ispace reported a steep contraction in project revenue for the first quarter ended June 30, 2026, with sales plunging about 85% year on year to ¥168 million and net loss widening to ¥6.34 billion, reflecting heavy upfront investment and ...
ispace Wins Up to ¥20 Billion JAXA Grant for Lunar South Pole Landing Technology
Aug 7, 2026
ispace has secured an initial grant of ¥11.6 billion, with potential support of up to ¥20 billion, under the Japan Aerospace Exploration Agency’s Space Strategy Fund to develop high-precision landing technology near the lunar south...
ispace Books ¥530 Million FX Gain in First-Quarter Results
Aug 7, 2026
ispace, inc. reported a non-operating foreign exchange gain of 530 million yen for the first quarter of the fiscal year ending March 31, 2027, covering the period from April 1 to June 30, 2026. The gain mainly stems from the revaluation of foreign...
ispace Taps MHI’s H3 Rocket for 2028 ULTRA Lunar Lander Mission
Jul 29, 2026
ispace has signed a launch services agreement with Mitsubishi Heavy Industries to use the H3 next-generation heavy-lift rocket for its Mission 3, scheduled for 2028 and centered on the ULTRA lunar lander. The deal secures Japan’s domestic la...
ispace Secures EUR 65 Million ESA Contract for Lunar Polar Rover Mission
Jul 23, 2026
ispace’s Luxembourg subsidiary has signed a supplemental Phase 2 agreement with the European Space Agency for the Mission for Advanced Geophysics and Polar Ice Exploration, a lunar rover project targeting volatile deposits and water ice at t...
ispace Expects No Earnings Hit From NASA–Draper CP-12 Exit
Jul 14, 2026
ispace, inc., a Tokyo-listed commercial lunar exploration company, is developing lunar landers and transportation services for NASA and other space-related customers via its U.S. subsidiary. The firm partners with organizations such as The Charles...
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.