System D Inc.

TSE:3804 Stock Report

Market Cap: JP¥8.4b

System D Past Earnings Performance

Past criteria checks 2/6

System D has been growing earnings at an average annual rate of 2.9%, while the Software industry saw earnings growing at 13.5% annually. Revenues have been growing at an average rate of 6.5% per year. System D's return on equity is 11.2%, and it has net margins of 11.2%.

Key information

2.90%

Earnings growth rate

5.39%

EPS growth rate

Software Industry Growth12.13%
Revenue growth rate6.50%
Return on equity11.22%
Net Margin11.23%
Last Earnings Update30 Apr 2026

Recent past performance updates

Analysis Article • Jun 22

There May Be Reason For Hope In System D's (TSE:3804) Disappointing Earnings

Investors were disappointed with the weak earnings posted by System D Inc. ( TSE:3804 ). Despite the soft profit...

Recent updates

Analysis Article • Jun 22

There May Be Reason For Hope In System D's (TSE:3804) Disappointing Earnings

Investors were disappointed with the weak earnings posted by System D Inc. ( TSE:3804 ). Despite the soft profit...
Analysis Article • Jun 30

There's Reason For Concern Over System D Inc.'s (TSE:3804) Massive 30% Price Jump

System D Inc. ( TSE:3804 ) shareholders have had their patience rewarded with a 30% share price jump in the last month...
Analysis Article • Jun 18

Calculating The Fair Value Of System D Inc. (TSE:3804)

Key Insights The projected fair value for System D is JP¥2,219 based on 2 Stage Free Cash Flow to Equity Current share...
Analysis Article • Feb 27

System D (TSE:3804) Has More To Do To Multiply In Value Going Forward

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd...
Analysis Article • Dec 23

There May Be Some Bright Spots In System D's (TSE:3804) Earnings

The market for System D Inc.'s ( TSE:3804 ) shares didn't move much after it posted weak earnings recently. We did some...
Analysis Article • Jun 17

System D (TSE:3804) Is Posting Promising Earnings But The Good News Doesn’t Stop There

Shareholders appeared to be happy with System D Inc.'s ( TSE:3804 ) solid earnings report last week. Looking deeper at...
Analysis Article • Jun 15

Market Participants Recognise System D Inc.'s (TSE:3804) Earnings Pushing Shares 25% Higher

System D Inc. ( TSE:3804 ) shares have had a really impressive month, gaining 25% after a shaky period beforehand...
Analysis Article • Jun 11

Returns On Capital At System D (TSE:3804) Have Stalled

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Analysis Article • Apr 28

Why System D Inc. (TYO:3804) Could Be Worth Watching

System D Inc. ( TYO:3804 ), might not be a large cap stock, but it saw significant share price movement during recent...
Analysis Article • Apr 13

Do System D's (TYO:3804) Earnings Warrant Your Attention?

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...
Analysis Article • Mar 29

Is System D Inc. (TYO:3804) A Smart Pick For Income Investors?

Could System D Inc. ( TYO:3804 ) be an attractive dividend share to own for the long haul? Investors are often drawn to...
Analysis Article • Mar 14

Why We Like The Returns At System D (TYO:3804)

What are the early trends we should look for to identify a stock that could multiply in value over the long term...
Analysis Article • Feb 23

Declining Stock and Solid Fundamentals: Is The Market Wrong About System D Inc. (TYO:3804)?

It is hard to get excited after looking at System D's (TYO:3804) recent performance, when its stock has declined 9.6...
Analysis Article • Feb 10

System D (TYO:3804) Has Rewarded Shareholders With An Exceptional 664% Total Return On Their Investment

Buying shares in the best businesses can build meaningful wealth for you and your family. While not every stock...
Analysis Article • Jan 26

What Is System D Inc.'s (TYO:3804) Share Price Doing?

System D Inc. ( TYO:3804 ), is not the largest company out there, but it received a lot of attention from a substantial...
Analysis Article • Jan 11

With EPS Growth And More, System D (TYO:3804) Is Interesting

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Analysis Article • Dec 27

System D Inc. (TYO:3804) Is An Attractive Dividend Stock - Here's Why

Could System D Inc. ( TYO:3804 ) be an attractive dividend share to own for the long haul? Investors are often drawn to...
Analysis Article • Dec 14

Why We Like The Returns At System D (TYO:3804)

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. In a perfect...
Analysis Article • Dec 01

What Is The Ownership Structure Like For System D Inc. (TYO:3804)?

The big shareholder groups in System D Inc. (TYO:3804) have power over the company. Generally speaking, as a company...

Revenue & Expenses Breakdown

How System D makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

TSE:3804 Revenue, expenses and earnings (JPY Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Apr 265,2615911,3380
31 Jan 265,0926361,2780
31 Oct 255,0326271,2420
31 Jul 255,0977001,2030
30 Apr 255,0436591,2040
31 Jan 254,7135841,1780
31 Oct 244,6315551,1750
31 Jul 244,6995871,1990
30 Apr 244,6945981,1900
31 Jan 244,6825891,1860
31 Oct 234,7366321,1530
31 Jul 234,4435431,1280
30 Apr 234,3655301,1080
31 Jan 234,4116461,0670
31 Oct 224,2325911,0550
31 Jul 224,1446331,0060
30 Apr 224,1586769920
31 Jan 223,9045591,0040
31 Oct 213,8425731,0090
31 Jul 213,8245271,0210
30 Apr 213,6994501,0030
31 Jan 213,9515801,0160
31 Oct 203,8545101,0310
31 Jul 204,0255641,0570
30 Apr 203,9395361,0890
31 Jan 203,7154901,0840
31 Oct 193,5663821,0820
31 Jul 193,3603251,0480
30 Apr 193,3183001,0490
31 Jan 193,3562631,0630
31 Oct 183,3992581,0630
31 Jul 183,5022771,0560
30 Apr 183,8342361,0180
31 Jan 183,9573259810
31 Oct 173,8072389450
31 Jul 173,9192909300
30 Apr 173,4232539280
31 Jan 173,1811019190
31 Oct 163,1081349170
31 Jul 162,8361149040
30 Apr 162,726968870
31 Jan 162,636878620
31 Oct 152,6761458460
31 Jul 152,557948240

Quality Earnings: 3804 has high quality earnings.

Growing Profit Margin: 3804's current net profit margins (11.2%) are lower than last year (13.1%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: 3804's earnings have grown by 2.9% per year over the past 5 years.

Accelerating Growth: 3804's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 3804 had negative earnings growth (-10.3%) over the past year, making it difficult to compare to the Software industry average (16.8%).

Return on Equity

High ROE: 3804's Return on Equity (11.2%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/10 03:58
End of Day Share Price 2026/07/10 00:00
Earnings2026/04/30
Annual Earnings2025/10/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

System D Inc. is covered by 1 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Katsumi HosoiTokai Tokyo Intelligence Laboratory Co., Ltd.