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3645.T$260.00+1.51%
Fair $260.00+0.0%

3645.T

Medical Net, Inc.

Communication Services / Internet Content & InformationTokyo

$260.00

+4.00 (+1.51%)

Fairly Valued+0.0%Fair Value $260.00Fund rank 29/100 · Data gapFallback financials|
SA 27/D
F-Score: 1/9
Margin CompressionLow Profitability

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 32% · confianza 22%

FCF escenarios

weak_data · normalized FCF $86.8M · quality 45.3/100

Data gap 29/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 36/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

27/100

D

Piotroski

1/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 2unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Insufficient audited annual history (<3 SEC-backed years); composite fair value and forward targets are disabled until manually verified. Operating margin has declined for 3 consecutive years ROE is -4.0%, below the 5% threshold
Thesis & Journal · 3645.TLocal privado en este navegador · Medical Net, Inc.
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$2.4B

P/E

62.4x

↑

EV/EBITDA

18.7x

↑

ROE

-4.0%

↓

Gross Margin

32.3%

↓

Debt/Equity

0.73

↑
52-Week Range$260
$259$340

TradingView lightweight chart

3645.T price, volumen y niveles de valoración

Último $269.00Periodo -70.9%
Fair value: $260.00

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

+17.5%

FCF CAGR

—

FCF margin

-3.5%

FCF / Net income

3.12x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $6.08B · net income $-68.1M · FCF $-212.4M

2022-FY → 2025-FY

Gross margin

32.3%-6.6% pts

Operating margin

1.6%-10.3% pts

Net margin

-1.1%-11.3% pts

FCF margin

-3.5%-12.6% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$6.08B$6.08B$5.25B$4.50B$3.75B
Net Income$-68.1M$-68.1M$6.0M$116.2M$380.1M
EBITDA$113.3M$113.3M$213.3M$315.8M$570.8M
EPS-7.64-7.640.6612.9743.44
Gross Margin32.3%32.3%35.1%39.6%39.0%
Operating Margin1.6%1.6%5.7%8.4%11.9%
Net Margin-1.1%-1.1%0.1%2.6%10.1%
Balance Sheet
Debt/Equity0.730.730.540.410.45
Current Ratio1.641.64———
Cash Flow
Free Cash Flow$-212.4M$-212.4M$86.8M$408.5M$340.4M
Returns
ROE-4.0%-4.0%0.3%6.1%22.3%
Valuation
P/E62.3562.35543.9430.3810.54
EV/EBITDA18.6618.6612.868.876.39
P/B1.351.351.701.842.35
Growth & Yield
Revenue Growth15.7%15.7%16.7%20.2%—
EPS Growth-1257.6%-1257.6%-94.9%-70.1%—
Dividend Yield1.1%1.1%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%
Reverse DCF requires positive EPS; loss-making or zero-EPS companies cannot produce a clean EPS hurdle.

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total -15.1%

Total return

-15.1%

Start / end P/E

n/dx → n/dx

EPS bridge

0.66 → -7.64

Residual

-16.2%

EPS growthn/d
Multiple reratingn/d
Dividend+1.1%
Residual / FX / buybacks / cross-term-16.2%

EPS/multiple decomposition requires positive EPS at both endpoints; residual absorbs price move not explained by dividends.

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.