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Japanese B2B e-commerce platform connecting restaurants with food/beverage suppliers, plus e-invoicing services.
Japanese B2B e-commerce platform connecting restaurants with food/beverage suppliers, plus e-invoicing services.
Earns recurring usage fees from the businesses on the platform, so income grows as more suppliers and restaurants sign up. Its e-invoicing service benefits from Japan's qualified-invoice system, in force since 2023, which pushed suppliers to digitise their billing.
In one line: A Japanese mashup of a restaurant-supply marketplace and an e-invoicing platform.
Moat: narrow (network effects, installed base). Two-sided marketplace connecting many restaurants and suppliers creates switching costs once adopted.
Headquarters: Tokyo, Japan · Founded: 2000 · Employees: 856
Size Infomart (2492.T) is a Japan Information Technology company (Packaged Software) with a market value of $1.24B, the 644th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥734 on 6 Nov 2026.
Performance Over six months the shares gained 70.3%, against +5.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 19 in its peer set.
Growth Revenue grew 11.4% over the last twelve months (peer median +15.1%); the operating margin is 19.0% (peer median 6.6%).
Valuation It trades at 65.9× forward earnings against a peer median of 16.6× (2nd most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 15.0 points above its cost of capital (5.0% WACC).
Next results Next results expected around 12 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥20.3B | ¥18.8B | ¥15.6B | ¥13.4B | ¥11.0B |
| Revenue growth | — | +20% | +17% | +21% | — |
| Gross profit | ¥15.2B | ¥13.8B | ¥9.65B | ¥7.59B | ¥6.26B |
| EBITDA | ¥5.77B | ¥4.87B | ¥2.69B | ¥1.91B | ¥1.51B |
| Net income | ¥2.39B | ¥1.92B | ¥655M | ¥298M | ¥286M |
| Free cash flow | ¥3.89B | ¥4.65B | ¥1.99B | ¥1.81B | ¥977M |
| Capital expenditure | ¥2.22B | ¥1.57B | ¥1.93B | ¥1.78B | ¥1.32B |
| Total debt | ¥785M | ¥2.27B | ¥1.27B | ¥770M | ¥770M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Infomart 2492.T | $1.24B | +70% | +11% | 19% | 65.9× | 14.5% |
| Money Forward 3994.T | $2.52B | +51% | +35% | 2% | 2,235.1× | n/a |
| Rakuten 4755.T | $8.59B | -18% | +11% | 6% | n/a | -2.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2492.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.8% | -6.4% | 9th highest of 21 |
| 6-month return | +70.3% | +5.6% | 3rd highest of 19 |
| Distance from 52-week high | -9.2% | -33.4% | 3rd highest of 21 |
| Revenue growth (TTM) | +11.4% | +15.1% | 10th lowest of 21 |
| Operating margin | 19.0% | 6.6% | 2nd highest of 21 |
| Forward P/E | 65.9× | 16.6× | 2nd most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 14.5% | 16.0% | 8th least demanding of 15 |
| Growth delivered (Del g) | +16.5% | +14.8% | 8th highest of 15 |
| Hurdle (Req g minus delivered) | -1.9 pp | -2.2 pp | 8th least demanding of 15 |
| ROIC minus cost of capital | +15.0 pp | -6.1 pp | 3rd highest of 21 |
| EV / EBITDA | 31.0× | 12.4× | 2nd most expensive of 12 |
| Net debt / EBITDA | -2.9× | 1.1× | 2nd least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Infomart 2492.T | Japan | $1.24B | +70% | +11% | 19% | 65.9× | 14.5% | +16.5% |
| Datang Telecom Technology 600198.SS | China | $1.25B | -24% | -11% | -30% | n/a | n/a | n/a |
| PagerDuty PD | United States | $1.23B | +115% | +2% | 7% | 11.1× | 12.8% | +18.2% |
| Cyient CYIENT.NS | India | $1.23B | +24% | +10% | 9% | 20.2× | 20.3% | +12.0% |
| InnovAge INNV | United States | $1.22B | +18% | +15% | 8% | 19.8× | -6.7% | +9.2% |
| Vitec Software VIT-B.ST | Sweden | $1.22B | +18% | +6% | 21% | 24.0× | 3.8% | +22.6% |
| Modern Times Group MTG MTG-A.ST | Sweden | $1.22B | +16% | +42% | 11% | 6.6× | -8.4% | +23.7% |
| Digital Turbine APPS | United States | $1.26B | +200% | +19% | 10% | 14.7× | 33.1% | +12.5% |
| Fengzhushou 301382.SZ | China | $1.28B | -32% | +28% | 8% | n/a | n/a | n/a |
| Corsair Gaming CRSR | United States | $1.28B | +63% | +3% | 3% | 16.1× | 24.3% | -2.9% |
| Shenzhen HQVT Technology 1392.HK | Hong Kong | $1.28B | n/a | +28% | 5% | n/a | n/a | n/a |
| Beijing Zhongke WengeAI Science and Technology 1956.HK | Hong Kong | $1.19B | n/a | +28% | -54% | n/a | n/a | n/a |
| Genimous Technology 000676.SZ | China | $1.30B | -7% | +3% | 6% | n/a | 14.1% | -17.5% |
| ICkey (Shanghai) Internet & Technology 301563.SZ | China | $1.19B | -26% | +26% | 4% | n/a | n/a | n/a |
| CHAPTERS CHG.DE | Germany | $1.30B | +48% | +63% | -21% | 294.5× | 43.9% | +178.6% |
| Richinfo Technology 300634.SZ | China | $1.30B | -15% | -11% | 10% | 31.2× | 20.8% | +19.9% |
| Chinasoft International 0354.HK | Hong Kong | $1.18B | 0% | +3% | 2% | 12.4× | 17.8% | +3.1% |
| Bandwidth BAND | United States | $1.31B | -19% | +15% | -1% | 19.6× | 19.3% | +17.0% |
| Opera Limited Sponsored ADR OPRA | United States | $1.31B | -21% | +23% | 16% | 11.9× | 4.5% | +30.1% |
| Merit Interactive 300766.SZ | China | $1.17B | -30% | +30% | -2% | n/a | n/a | n/a |
| NSD 9759.T | Japan | $1.32B | +12% | +10% | 16% | 16.6× | -10.9% | +12.2% |