Sansan, Inc.

TSE:4443 Stock Report

Market Cap: JP¥289.3b

Sansan Valuation

Is 4443 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 4443 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 4443 (¥2295) is trading below our estimate of fair value (¥3438.8)

Significantly Below Fair Value: 4443 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4443?

Key metric: As 4443 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 4443. This is calculated by dividing 4443's market cap by their current revenue.
What is 4443's PS Ratio?
PS Ratio8x
SalesJP¥35.96b
Market CapJP¥289.30b

Price to Sales Ratio vs Peers

How does 4443's PS Ratio compare to its peers?

The above table shows the PS ratio for 4443 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average6.6x
3923 Rakus
7.7x16.7%JP¥336.6b
3994 Money Forward
6.9x19.7%JP¥263.8b
4478 freee K.K
6.6x18.4%JP¥178.5b
4686 JustSystems
5.4xn/aJP¥225.7b
4443 Sansan
8x16.3%JP¥289.3b

Price-To-Sales vs Peers: 4443 is expensive based on its Price-To-Sales Ratio (8x) compared to the peer average (6.6x).

Price to Sales Ratio vs Industry

How does 4443's PS Ratio compare vs other companies in the JP Software Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
3627 Tecmira Holdings
0.4xn/aUS$24.84m
3744 SIOS
0.2xn/aUS$18.97m
No more companies available in this PS range
4443 8.0xIndustry Avg. 2.0xNo. of Companies28PS01.63.24.86.48+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 4443 is expensive based on its Price-To-Sales Ratio (8x) compared to the JP Software industry average (2x).

Price to Sales Ratio vs Fair Ratio

What is 4443's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

4443 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio8x
Fair PS Ratio8.2x

Price-To-Sales vs Fair Ratio: 4443 is good value based on its Price-To-Sales Ratio (8x) compared to the estimated Fair Price-To-Sales Ratio (8.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 4443 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥2,295.00
JP¥2,610.00
+13.7%
14.2%JP¥3,200.00JP¥2,050.00n/a5
Dec ’25JP¥2,108.00
JP¥2,610.00
+23.8%
14.2%JP¥3,200.00JP¥2,050.00n/a5
Nov ’25JP¥2,229.00
JP¥2,610.00
+17.1%
14.2%JP¥3,200.00JP¥2,050.00n/a5
Oct ’25JP¥2,131.00
JP¥2,630.00
+23.4%
14.3%JP¥3,200.00JP¥2,050.00n/a5
Sep ’25JP¥2,190.00
JP¥2,590.00
+18.3%
15.0%JP¥3,200.00JP¥2,050.00n/a5
Aug ’25JP¥2,158.00
JP¥2,370.00
+9.8%
21.5%JP¥3,200.00JP¥1,650.00n/a5
Jul ’25JP¥1,697.00
JP¥2,080.00
+22.6%
18.8%JP¥2,800.00JP¥1,650.00n/a5
Jun ’25JP¥1,616.00
JP¥2,040.00
+26.2%
19.4%JP¥2,800.00JP¥1,650.00n/a5
May ’25JP¥1,471.00
JP¥2,070.00
+40.7%
17.9%JP¥2,800.00JP¥1,800.00n/a5
Apr ’25JP¥1,728.00
JP¥2,100.00
+21.5%
17.0%JP¥2,800.00JP¥1,800.00n/a5
Mar ’25JP¥1,806.00
JP¥2,100.00
+16.3%
17.0%JP¥2,800.00JP¥1,800.00n/a5
Feb ’25JP¥1,400.00
JP¥2,000.00
+42.9%
21.7%JP¥2,800.00JP¥1,500.00n/a5
Jan ’25JP¥1,599.00
JP¥2,040.00
+27.6%
24.9%JP¥3,000.00JP¥1,500.00n/a5
Dec ’24JP¥1,554.00
JP¥2,040.00
+31.3%
24.9%JP¥3,000.00JP¥1,500.00JP¥2,108.005
Nov ’24JP¥1,203.00
JP¥2,040.00
+69.6%
24.9%JP¥3,000.00JP¥1,500.00JP¥2,229.005
Oct ’24JP¥1,258.00
JP¥2,011.67
+59.9%
24.2%JP¥3,000.00JP¥1,400.00JP¥2,131.006
Sep ’24JP¥1,419.50
JP¥2,011.67
+41.7%
24.2%JP¥3,000.00JP¥1,400.00JP¥2,190.006
Aug ’24JP¥1,546.00
JP¥1,945.00
+25.8%
18.4%JP¥2,600.00JP¥1,400.00JP¥2,158.006
Jul ’24JP¥1,680.00
JP¥1,983.33
+18.1%
18.3%JP¥2,600.00JP¥1,400.00JP¥1,697.006
Jun ’24JP¥1,681.00
JP¥1,908.33
+13.5%
18.9%JP¥2,600.00JP¥1,400.00JP¥1,616.006
May ’24JP¥1,757.00
JP¥1,890.00
+7.6%
20.8%JP¥2,600.00JP¥1,400.00JP¥1,471.005
Apr ’24JP¥1,499.00
JP¥1,860.00
+24.1%
21.7%JP¥2,600.00JP¥1,400.00JP¥1,728.005
Mar ’24JP¥1,548.00
JP¥1,975.00
+27.6%
18.8%JP¥2,600.00JP¥1,650.00JP¥1,806.004
Feb ’24JP¥1,641.00
JP¥1,875.00
+14.3%
22.8%JP¥2,600.00JP¥1,500.00JP¥1,400.004
Jan ’24JP¥1,276.00
JP¥1,837.50
+44.0%
24.6%JP¥2,600.00JP¥1,500.00JP¥1,599.004
Dec ’23JP¥1,772.00
JP¥1,837.50
+3.7%
24.6%JP¥2,600.00JP¥1,500.00JP¥1,554.004

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/30 01:19
End of Day Share Price 2024/12/30 00:00
Earnings2024/08/31
Annual Earnings2024/05/31

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 here.

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 .

Analyst Sources

Sansan, Inc. is covered by 14 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Yuki KanekoBofA Global Research
Hideo NodaCLSA
Taro IshiharaDaiwa Securities Co. Ltd.