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Employees: 791
Size Appier (4180.T) is a Japan Information Technology company (Packaged Software) with a market value of $869M, the 793rd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,333 on 6 Nov 2026.
Performance Over six months the shares gained 50.5%, against -14.9% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 28.4% over the last twelve months (peer median +20.4%); the operating margin is 6.6% (peer median 8.0%).
Valuation It trades at 30.7× forward earnings against a peer median of 25.4× (5th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +37%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.5 points above its cost of capital (6.5% WACC).
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥49.0B | ¥43.7B | ¥34.1B | ¥26.4B | ¥19.4B |
| Revenue growth | — | +28% | +29% | +36% | — |
| Gross profit | ¥27.2B | ¥19.6B | ¥14.9B | ¥11.7B | ¥8.69B |
| EBITDA | ¥7.68B | ¥6.46B | ¥4.55B | ¥2.50B | ¥1.18B |
| Net income | ¥3.36B | ¥2.56B | ¥2.93B | ¥1.00B | ¥21.3M |
| Free cash flow | ¥5.02B | ¥3.25B | ¥1.85B | ¥2.11B | ¥898M |
| Capital expenditure | ¥5.82B | ¥5.05B | ¥4.26B | ¥3.35B | ¥2.43B |
| Total debt | ¥12.3B | ¥11.1B | ¥3.78B | ¥3.35B | ¥5.06B |
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.
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 | 4180.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.9% | -0.3% | 9th lowest of 21 |
| 6-month return | +50.5% | -14.9% | 2nd highest of 21 |
| Distance from 52-week high | -14.0% | -38.5% | 4th highest of 21 |
| Revenue growth (TTM) | +28.4% | +20.4% | 6th highest of 21 |
| Operating margin | 6.6% | 8.0% | 10th lowest of 21 |
| Forward P/E | 30.7× | 25.4× | 5th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 19.5% | 10.6% | 2nd most demanding of 12 |
| Growth delivered (Del g) | +37.3% | +14.1% | 3rd highest of 12 |
| Hurdle (Req g minus delivered) | -17.8 pp | -6.7 pp | 5th least demanding of 12 |
| ROIC minus cost of capital | +0.5 pp | -4.9 pp | 9th highest of 21 |
| EV / EBITDA | 16.8× | 12.4× | 3rd most expensive of 9 |
| Net debt / EBITDA | -1.1× | -0.4× | 2nd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Appier 4180.T | Japan | $869M | +50% | +28% | 7% | 30.7× | 19.5% | +37.3% |
| Rastar 300043.SZ | China | $870M | -20% | -43% | 20% | n/a | 10.6% | +3.7% |
| Frequentis FQT.DE | Germany | $870M | -15% | +34% | 9% | 19.0× | -7.6% | +14.1% |
| Shenzhen Farben Information Technology 300925.SZ | China | $867M | -27% | +22% | 1% | 45.7× | n/a | n/a |
| BlackSky Technology BKSY | United States | $873M | -46% | +4% | -43% | n/a | n/a | n/a |
| Montnets Cloud Technology 002123.SZ | China | $875M | -21% | -30% | -11% | 22.8× | n/a | n/a |
| Cybozu 4776.T | Japan | $862M | +43% | +20% | 27% | 16.8× | -2.8% | +19.0% |
| Fujian Boss Software 300525.SZ | China | $861M | -24% | -5% | 8% | 26.4× | 5.4% | +12.1% |
| Beijing Shenzhou Aerospace Software Technology 688562.SS | China | $878M | -21% | +24% | -5% | n/a | n/a | n/a |
| Timee 215A.T | Japan | $878M | +9% | +56% | 18% | 21.0× | 0.0% | +89.1% |
| Beijing Global Safety Technology 300523.SZ | China | $855M | -14% | +29% | -11% | 34.9× | n/a | n/a |
| HealthStream HSTM | United States | $884M | +21% | +10% | 8% | 38.7× | 14.6% | +4.4% |
| Viant Technology DSP | United States | $854M | +7% | +22% | 36% | 50.8× | -4.6% | +15.8% |
| Youon Technology 603776.SS | China | $852M | +3% | +34% | -28% | n/a | 16.7% | -14.0% |
| Qt Group Plc QTCOM.HE | Finland | $887M | +62% | +17% | 16% | 26.8× | 16.4% | +22.2% |
| Beijing eGOVA 300075.SZ | China | $851M | -29% | -5% | -102% | 25.4× | n/a | n/a |
| PAR Technology PAR | United States | $850M | +43% | +19% | -10% | 17.7× | n/a | n/a |
| Fujian Apex Software 603383.SS | China | $848M | -15% | -8% | 25% | 27.8× | 16.4% | +10.7% |
| Lunit 328130.KS | South Korea | $846M | -25% | +24% | -76% | n/a | n/a | n/a |
| Vobile 3738.HK | Hong Kong | $844M | -17% | +20% | 13% | 18.8× | n/a | n/a |
| RateGain Travel Technologies RATEGAIN.NS | India | $910M | +15% | +114% | 15% | 22.9× | 32.4% | +48.7% |