Billing System Corp

The company maintains a strong liquidity position, with cash and equivalents amounting to ¥19,663,650,000, significantly exceeding its total liabilities of ¥18,879,061,000. This results in a current ratio of 1.12, indicating a solid short-term liquidity buffer. The price-to-book ratio of 2.5 and price-to-tangible-book ratio of 2.5 suggest that the company is trading at a premium to its book value, which may reflect market expectations of future earnings potential.

Profitability metrics show a return on equity (ROE) of 3.76% and a return on assets (ROA) of 0.44%, both of which are below the typical thresholds for high-performing firms in the business support services industry. The operating margin, calculated as operating income of ¥144,745,000 divided by revenue of ¥995,601,000, is approximately 14.54%, which is in line with the industry median for similar firms.

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification may expose the company to higher operational and market risks, particularly in the event of sector-specific downturns. The company's revenue concentration is a key factor in its risk profile, as it lacks the buffer of multiple revenue streams or geographic markets.

Looking ahead, the company is projected to maintain a stable revenue trajectory, with no significant growth or decline expected in the next fiscal year. The current fiscal year revenue of ¥995,601,000 is consistent with the analyst estimate of ¥4,546,710,000, suggesting a stable performance. The company's capital structure is conservative, with a debt-to-equity ratio of 0.18, indicating a low reliance on debt financing and a strong equity base.

The company's risk assessment indicates a low probability of dilution and no immediate liquidity concerns. The absence of filing-based flags for liquidity or dilution suggests that the company is not currently under financial stress. However, the high price-to-earnings ratio of 66.48 may indicate that the market is pricing in future earnings growth that may not materialize, which could lead to a revaluation risk.

Recent events, including the latest financial filing and analyst estimates, show that the company's earnings and revenue are in line with expectations. The last actual EPS was ¥64.87, and the last actual revenue was ¥4,546,710,000, both of which are consistent with the company's reported financials.

There are no material changes, watcher signals, or cross-source signals to report for Billing System Corp (3623.T) based on the provided facts. The data indicates this is the first analysis for this ticker, meaning there is no prior basis for computing deltas or identifying recent shifts in performance or sentiment. Consequently, no specific events, numbers, dates, or ratings can be asserted as changes. The available information does not support any narrative regarding operational developments, financial updates, or market movements for the company during the specified period. The COMPANY_360 profile shows zero counts for officers, analysts, index memberships, and top holders, suggesting a lack of available data in these categories within the current dataset. This absence of data points further limits the ability to synthesize a traditional financial news update. In summary, the lack of signal activity and the status of this being the initial analysis prevent the construction of a meaningful cross-section synthesis. Investors and readers should note that no new information has been recorded to drive a change in the company's profile or market perception.

Revenue grew at a 9.7% CAGR over four years, demonstrating consistent top-line expansion for the billing system provider.

Net income expanded at a 16.2% CAGR over four years, significantly outpacing revenue growth rates.

Net margin of 9.5% exceeds the 5.3% cohort median, indicating superior profitability relative to peers.

The company maintains zero long-term debt across all reported periods, ensuring a strong balance sheet.

Operating income declined 4.8% year-over-year in FY2026, signaling a contraction in core operational profitability.

Net income growth stalled at just 0.3% year-over-year in FY2026, showing diminishing returns on revenue gains.

Return on assets of 0.4% indicates inefficient utilization of the company's asset base to generate earnings.

Revenue ¥1.22B, +9,8% YoY; Operating income −11,3% YoY.

• ▍Revenue ¥1.22B, +9,8% YoY
• ▍Operating income −11,3% YoY
• ▍Net income +14,4% YoY
• ▍Net margin 11.1%

Revenue ¥1.12B, +8,6% YoY; Operating income +15,4% YoY.

• ▍Revenue ¥1.12B, +8,6% YoY
• ▍Operating income +15,4% YoY
• ▍Net income +9,0% YoY
• ▍Net margin 8.7%

Revenue ¥1.14B, +5,0% YoY; Operating income −14,9% YoY.

• ▍Revenue ¥1.14B, +5,0% YoY
• ▍Operating income −14,9% YoY
• ▍Net income −17,3% YoY
• ▍Net margin 7.6%

Revenue ¥1.07B, +7,7% YoY; Operating income −4,4% YoY.

• ▍Revenue ¥1.07B, +7,7% YoY
• ▍Operating income −4,4% YoY
• ▍Net income −6,0% YoY
• ▍Net margin 8.3%

Revenue ¥1.11B; Operating income ¥181.6M.

• ▍Revenue ¥1.11B
• ▍Operating income ¥181.6M
• ▍Net margin 10.7%

Revenue ¥1.03B; Operating income ¥137.7M.

• ▍Revenue ¥1.03B
• ▍Operating income ¥137.7M
• ▍Net margin 8.6%

Revenue ¥1.08B; Operating income ¥162.1M.

• ▍Revenue ¥1.08B
• ▍Operating income ¥162.1M
• ▍Net margin 9.7%

Revenue ¥995.6M; Operating income ¥144.7M.

• ▍Revenue ¥995.6M
• ▍Operating income ¥144.7M
• ▍Net margin 9.5%

Revenue ¥4.55B, +7,8% YoY; Operating income −4,8% YoY.

• ▍Revenue ¥4.55B, +7,8% YoY
• ▍Operating income −4,8% YoY
• ▍Net income +0,3% YoY
• ▍Free cash flow −15,4% YoY
• ▍Net margin 9.0%

Revenue ¥4.22B, +11,5% YoY; Operating income +34,8% YoY.

• ▍Revenue ¥4.22B, +11,5% YoY
• ▍Operating income +34,8% YoY
• ▍Net income +35,6% YoY
• ▍Free cash flow +101,6% YoY
• ▍Net margin 9.6%

Revenue ¥3.78B, +10,1% YoY; Operating income −3,6% YoY.

• ▍Revenue ¥3.78B, +10,1% YoY
• ▍Operating income −3,6% YoY
• ▍Net income −7,1% YoY
• ▍Free cash flow −44,0% YoY
• ▍Net margin 7.9%

Revenue ¥3.43B, +9,3% YoY; Operating income +37,8% YoY.

• ▍Revenue ¥3.43B, +9,3% YoY
• ▍Operating income +37,8% YoY
• ▍Net income +44,2% YoY
• ▍Free cash flow +99,2% YoY
• ▍Net margin 9.4%