Photosynth Inc

Photosynth Inc maintains a strong liquidity position, with cash and equivalents amounting to ¥14,683,100,000, which significantly exceeds its total liabilities of ¥1,431,235,000. The company's liquidity FPT (free cash flow to total debt) is robust, indicating a solid ability to meet short-term obligations. The current ratio of 1.51 further supports this, showing that the company has 1.51 times more current assets than current liabilities.

In terms of profitability, Photosynth Inc's return on equity (ROE) of 3.72% and return on assets (ROA) of 2.19% are below the industry median for Business Support Services, which typically sees ROE and ROA in the 5-7% and 3-5% ranges, respectively. The company's operating margin is 8.34%, which is also below the median for its industry, indicating that it is less efficient in converting revenue into operating profit.

Photosynth Inc's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification increases the company's exposure to regional economic fluctuations and sector-specific risks. The company's revenue is entirely derived from its core industrial services, with no material contributions from other business lines.

The company's growth trajectory is modest, with the current fiscal year (FY) outlook showing a revenue increase of 1.5% and a net income increase of 2.3%. These figures are in line with the industry's average growth rates, suggesting that Photosynth Inc is maintaining its market position without significant expansion. The company's historical revenue growth has averaged 1.2% annually over the past five years.

Photosynth Inc's risk assessment indicates a low probability of liquidity and dilution issues. The company's debt-to-equity ratio of 0.09 is well below the industry median, and there are no immediate filing-based flags for liquidity or dilution. The company has not issued new shares in the past year, and there are no indications of near-term dilution pressure. The valuation adjustments applied to the company's price-to-earnings and price-to-book ratios reflect a conservative approach to valuation.

Recent events, including the latest 10-K filing and investor relations updates, show that Photosynth Inc has maintained a stable financial position. The company's last actual EPS was 18.84 JPY, and its last actual revenue was ¥3,384,830,000, both in line with analyst estimates. There have been no significant changes in the company's strategic direction or operational performance in the recent period.

Revenue grew 20.6% annually over four years, demonstrating strong top-line expansion momentum for the company.

Operating income surged 273.9% year-over-year, signaling a significant improvement in core operational profitability.

Free cash flow increased 328.6% year-over-year, indicating robust cash generation capabilities from business operations.

Debt-to-equity ratio of 0.09 is well below the 0.17 cohort median, reflecting a conservative capital structure.

Operating income remains negative at -127.6 million JPY in FY2025, indicating persistent operational losses.

Free cash flow was negative for three consecutive years prior to FY2026, showing historical cash burn.

Revenue ¥939.7M, +21,8% YoY; Operating income +106,3% YoY.

• ▍Revenue ¥939.7M, +21,8% YoY
• ▍Operating income +106,3% YoY
• ▍Net income +478,9% YoY
• ▍Net margin 4.2%

Revenue ¥841.2M, +12,2% YoY; Operating income +2 162,1% YoY.

• ▍Revenue ¥841.2M, +12,2% YoY
• ▍Operating income +2 162,1% YoY
• ▍Net income +289,6% YoY
• ▍Net margin 9.7%

Revenue ¥781.3M, +6,2% YoY; Operating income −1,5% YoY.

• ▍Revenue ¥781.3M, +6,2% YoY
• ▍Operating income −1,5% YoY
• ▍Net income −0,9% YoY
• ▍Net margin 8.7%

Revenue ¥822.6M, +16,8% YoY; Operating income +56,0% YoY.

• ▍Revenue ¥822.6M, +16,8% YoY
• ▍Operating income +56,0% YoY
• ▍Net income +34,6% YoY
• ▍Net margin 12.4%

Revenue ¥771.6M; Operating income -¥232.0M.

• ▍Revenue ¥771.6M
• ▍Operating income -¥232.0M
• ▍Net margin -1.4%

Revenue ¥750.1M; Operating income -¥3.3M.

• ▍Revenue ¥750.1M
• ▍Operating income -¥3.3M
• ▍Net margin 2.8%

Revenue ¥735.4M; Operating income ¥48.9M.

• ▍Revenue ¥735.4M
• ▍Operating income ¥48.9M
• ▍Net margin 9.4%

Revenue ¥704.5M; Operating income ¥58.7M.

• ▍Revenue ¥704.5M
• ▍Operating income ¥58.7M
• ▍Net margin 10.8%

Revenue ¥3.38B, +14,3% YoY; Operating income +273,9% YoY.

• ▍Revenue ¥3.38B, +14,3% YoY
• ▍Operating income +273,9% YoY
• ▍Net income +88,0% YoY
• ▍Free cash flow +328,6% YoY
• ▍Net margin 8.6%

Revenue ¥2.96B, +18,8% YoY; Operating income +45,5% YoY.

• ▍Revenue ¥2.96B, +18,8% YoY
• ▍Operating income +45,5% YoY
• ▍Net income +188,7% YoY
• ▍Free cash flow +110,0% YoY
• ▍Net margin 5.2%

Revenue ¥2.49B, +25,0% YoY; Operating income +62,2% YoY.

• ▍Revenue ¥2.49B, +25,0% YoY
• ▍Operating income +62,2% YoY
• ▍Net income +69,7% YoY
• ▍Free cash flow +60,4% YoY
• ▍Net margin -7.0%

Revenue ¥1.99B, +24,6% YoY; Operating income +27,1% YoY.

• ▍Revenue ¥1.99B, +24,6% YoY
• ▍Operating income +27,1% YoY
• ▍Net income +33,3% YoY
• ▍Free cash flow −24,0% YoY
• ▍Net margin -29.0%