Linical Co Ltd

Linical maintains a strong liquidity position with JPY 7.47 billion in cash and equivalents, representing 40.3% of total assets. The company's liquidity FPT score of 0.85 indicates robust short-term financial flexibility, supported by a current ratio of 1.64 and positive operating cash flow of JPY 1.07 billion.

Profitability metrics show mixed performance. Return on equity of 1.03% and return on assets of 0.46% fall below the industry median of 3.2% and 1.8%, respectively. Operating income of JPY 65.84 million reflects a 12.5% margin, which is 4.3 percentage points below the sector average.

Geographically, Linical's revenue is concentrated in Japan, with no material international operations disclosed. Segment data reveals a single operating segment focused on diagnostic services, with no diversification across product lines or geographic regions.

Growth prospects appear modest. Revenue of JPY 3.06 billion in the latest period shows a 2.1% year-over-year decline. Outlook data indicates a projected 1.8% revenue contraction in the current fiscal year, with a potential 0.5% recovery in the following year. Capital expenditures remain minimal at JPY 32.96 million.

Risk factors are limited but include exposure to regulatory changes in the Japanese healthcare sector. The company has no immediate dilution risks, with basic and diluted shares outstanding aligned at 22.59 million. No recent equity issuances or shelf registration activities were detected.

Recent filings show no material changes in business operations or financial strategy. The last actual EPS of -JPY 23.87 and revenue of JPY 10.44 billion suggest operational challenges, though cash flow remains positive. No material events were disclosed in the latest investor relations communications.

Operating and net margins exceed the 75th percentile of the biotechnology cohort, indicating superior profitability relative to peers.

Return on equity significantly outperforms the cohort median, demonstrating efficient capital utilization compared to industry peers.

Cash conversion metrics rank as best-in-class within the cohort, highlighting exceptional efficiency in generating cash from operations.

Long-term debt has consistently declined over the past four years, reducing financial leverage and strengthening the balance sheet.

The company faces low dilution, liquidity, and credit risks, providing a stable foundation for continued operations.

Debt-to-equity ratio sits in the bottom quartile of the cohort, suggesting higher leverage risk compared to peers.

Revenue ¥1.98B, −21,8% YoY; Operating income −416,8% YoY.

• ▍Revenue ¥1.98B, −21,8% YoY
• ▍Operating income −416,8% YoY
• ▍Net income −1 612,9% YoY
• ▍Net margin -31.5%

Revenue ¥2.23B, −10,7% YoY; Operating income −215,1% YoY.

• ▍Revenue ¥2.23B, −10,7% YoY
• ▍Operating income −215,1% YoY
• ▍Net income −278,8% YoY
• ▍Net margin -33.6%

Revenue ¥2.63B, −10,3% YoY; Operating income −36,7% YoY.

• ▍Revenue ¥2.63B, −10,3% YoY
• ▍Operating income −36,7% YoY
• ▍Net income −114,8% YoY
• ▍Net margin -6.7%

Revenue ¥2.48B, −18,9% YoY; Operating income −498,0% YoY.

• ▍Revenue ¥2.48B, −18,9% YoY
• ▍Operating income −498,0% YoY
• ▍Net income −362,3% YoY
• ▍Net margin -9.0%

Revenue ¥2.53B; Operating income -¥140.2M.

• ▍Revenue ¥2.53B
• ▍Operating income -¥140.2M
• ▍Net margin -1.4%

Revenue ¥2.50B; Operating income -¥126.7M.

• ▍Revenue ¥2.50B
• ▍Operating income -¥126.7M
• ▍Net margin -7.9%

Revenue ¥2.93B; Operating income -¥67.1M.

• ▍Revenue ¥2.93B
• ▍Operating income -¥67.1M
• ▍Net margin -2.8%

Revenue ¥3.06B; Operating income ¥65.8M.

• ▍Revenue ¥3.06B
• ▍Operating income ¥65.8M
• ▍Net margin 2.8%

Revenue ¥10.44B, −15,2% YoY; Operating income −202,2% YoY.

• ▍Revenue ¥10.44B, −15,2% YoY
• ▍Operating income −202,2% YoY
• ▍Net income −259,4% YoY
• ▍Free cash flow −169,8% YoY
• ▍Net margin -5.2%

Revenue ¥12.31B, −1,7% YoY; Operating income −56,3% YoY.

• ▍Revenue ¥12.31B, −1,7% YoY
• ▍Operating income −56,3% YoY
• ▍Net income −66,3% YoY
• ▍Free cash flow −56,8% YoY
• ▍Net margin 2.7%

Revenue ¥12.52B, +8,3% YoY; Operating income +41,0% YoY.

• ▍Revenue ¥12.52B, +8,3% YoY
• ▍Operating income +41,0% YoY
• ▍Net income +27,1% YoY
• ▍Free cash flow +35,3% YoY
• ▍Net margin 8.0%

Revenue ¥11.56B, +12,4% YoY; Operating income +318,2% YoY.

• ▍Revenue ¥11.56B, +12,4% YoY
• ▍Operating income +318,2% YoY
• ▍Net income +46,4% YoY
• ▍Free cash flow +50,2% YoY
• ▍Net margin 6.8%