Aplix Corp

Aplix Corp maintains a strong liquidity position, with cash and equivalents amounting to ¥2.26 billion, significantly exceeding its total liabilities of ¥1.18 billion, resulting in a current ratio of 4.18. The company's debt-to-equity ratio of 0.25 indicates a conservative capital structure, with long-term debt at ¥636.1 million compared to total equity of ¥2.54 billion. Despite a negative operating cash flow of ¥20.5 million, the company's free cash flow of ¥19.4 million suggests some flexibility in managing capital expenditures, which were ¥6.2 million in the latest period.

Profitability metrics for Aplix Corp are modest, with a return on equity (ROE) of 0.42% and a return on assets (ROA) of 0.29%. These figures fall below the typical thresholds for high-performing software firms, indicating that the company is not generating substantial returns relative to its equity and asset base. The operating margin, calculated as operating income of ¥18.8 million divided by revenue of ¥867.8 million, is approximately 2.17%, which is relatively low for a software company.

The company's revenue is concentrated in a single business segment, as no segmental breakdown is provided in the available data. There is no detailed geographic breakdown, but the company is headquartered in Japan, suggesting a significant portion of its operations and revenue may be derived from the domestic market. This concentration could expose the company to regional economic fluctuations and regulatory changes.

Aplix Corp's growth trajectory appears to be modest, with no specific revenue growth rates provided in the latest financial data. The company's net income of ¥10.6 million and operating income of ¥18.8 million indicate a narrow profit margin, which may limit its ability to invest in growth initiatives. Analyst estimates for the latest actual revenue of ¥2.87 billion and EPS of -6.31 JPY suggest a challenging earnings environment.

The company's risk profile is characterized by low liquidity and dilution risks, with no immediate filing-based flags detected. The low dilution risk is supported by the absence of significant share issuance activity, as the basic and diluted shares outstanding are the same at 43.6 million. However, the negative operating cash flow and low profitability metrics suggest that the company may need to seek additional financing in the future, which could introduce new risks.

Recent events and filings do not indicate any major corporate actions or strategic shifts for Aplix Corp. The company's financial performance and operational metrics remain stable, but there is no evidence of significant innovation or market expansion in the latest data.

Debt-to-equity ratio of 0.25 is well below the software cohort median of 0.06, suggesting a conservative capital structure.

Capex intensity of -0.71% ranks in the top quartile of the software cohort, reflecting efficient capital deployment.

Low dilution, liquidity, and credit risk flags suggest a stable financial profile with minimal immediate structural threats.

Gross profit reached 964.5 million JPY in FY2026, maintaining profitability at the top line despite operating losses.

Cash conversion ratio of -1.93 places the company in the bottom quartile of the software cohort, highlighting poor cash management.

Revenue ¥672.5M, −23,7% YoY; Operating income −400,6% YoY.

• ▍Revenue ¥672.5M, −23,7% YoY
• ▍Operating income −400,6% YoY
• ▍Net income −851,7% YoY
• ▍Free cash flow −467,7% YoY
• ▍Net margin -35.9%

Revenue ¥692.6M, −24,8% YoY; Operating income −20,0% YoY.

• ▍Revenue ¥692.6M, −24,8% YoY
• ▍Operating income −20,0% YoY
• ▍Net income −23,5% YoY
• ▍Free cash flow −38,1% YoY
• ▍Net margin 5.7%

Revenue ¥732.7M, −29,3% YoY; Operating income −55,9% YoY.

• ▍Revenue ¥732.7M, −29,3% YoY
• ▍Operating income −55,9% YoY
• ▍Net income −53,5% YoY
• ▍Free cash flow −73,5% YoY
• ▍Net margin 4.0%

Revenue ¥776.1M, −10,6% YoY; Operating income +155,8% YoY.

• ▍Revenue ¥776.1M, −10,6% YoY
• ▍Operating income +155,8% YoY
• ▍Net income +232,7% YoY
• ▍Free cash flow −179,5% YoY
• ▍Net margin 4.6%

Revenue ¥881.7M; Operating income ¥63.7M.

• ▍Revenue ¥881.7M
• ▍Operating income ¥63.7M
• ▍Net margin 3.6%

Revenue ¥921.4M; Operating income ¥52.3M.

• ▍Revenue ¥921.4M
• ▍Operating income ¥52.3M
• ▍Net margin 5.6%

Revenue ¥1.04B; Operating income ¥83.6M.

• ▍Revenue ¥1.04B
• ▍Operating income ¥83.6M
• ▍Net margin 6.1%

Revenue ¥867.8M; Operating income ¥18.8M.

• ▍Revenue ¥867.8M
• ▍Operating income ¥18.8M
• ▍Net margin 1.2%

Revenue ¥2.87B, −22,5% YoY; Operating income −129,7% YoY.

• ▍Revenue ¥2.87B, −22,5% YoY
• ▍Operating income −129,7% YoY
• ▍Net income −187,5% YoY
• ▍Free cash flow −216,4% YoY
• ▍Net margin -4.8%

Revenue ¥3.71B, −1,4% YoY; Operating income −32,0% YoY.

• ▍Revenue ¥3.71B, −1,4% YoY
• ▍Operating income −32,0% YoY
• ▍Net income −53,2% YoY
• ▍Free cash flow −63,8% YoY
• ▍Net margin 4.2%

Revenue ¥3.76B, +7,6% YoY; Operating income +256,4% YoY.

• ▍Revenue ¥3.76B, +7,6% YoY
• ▍Operating income +256,4% YoY
• ▍Net income +81,0% YoY
• ▍Free cash flow +59,6% YoY
• ▍Net margin 8.9%

Revenue ¥3.50B, −0,2% YoY; Operating income +190,1% YoY.

• ▍Revenue ¥3.50B, −0,2% YoY
• ▍Operating income +190,1% YoY
• ▍Net income +273,9% YoY
• ▍Free cash flow +1 556,8% YoY
• ▍Net margin 5.3%