Loading…
Japanese health-data analytics company aggregating health-insurance claims data for pharma research and personal health records.
Japanese health-data analytics company aggregating health-insurance claims data for pharma research and personal health records.
Obtains claims data from health-insurance associations, which pay it to analyse the data for programmes that screen health and cut costs, and then sells analysis of the anonymised database to drug makers for studies, so it has two groups of paying customers.
In one line: A Japanese IQVIA/health-data analytics specialist.
Moat: narrow (data, scale, switching costs). Largest aggregated health-insurance claims database in Japan, difficult for rivals to replicate.
Headquarters: Tokyo, Japan · Founded: 2002 · Employees: 2,444
Size JMDC (4483.T) is a Japan Information Technology company (Data Processing Services) with a market value of $1.52B, the 571st largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,655 on 6 Nov 2026.
Performance Over six months the shares gained 10.1%, against -36.9% for the median peer and +1.8% for the Japan market (cap-weighted) — 4th highest of 19 in its peer set.
Growth Revenue grew 18.9% over the last twelve months (peer median +10.7%); the operating margin is 19.6% (peer median -1.2%).
Valuation It trades at 31.9× forward earnings against a peer median of 19.1× (5th most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 20% a year for seven years (Req g). Recent delivered growth is +25%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.3 points below its cost of capital (9.1% WACC).
Next results Next results expected around 8 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥52.3B | ¥50.5B | ¥41.7B | ¥30.6B | ¥27.8B |
| Revenue growth | — | +21% | +36% | +10% | — |
| Gross profit | ¥28.9B | ¥26.2B | ¥22.5B | ¥17.1B | ¥14.8B |
| EBITDA | ¥13.6B | ¥13.2B | ¥10.9B | ¥8.80B | ¥7.73B |
| Net income | ¥6.93B | ¥6.76B | ¥5.96B | ¥3.32B | ¥4.27B |
| Free cash flow | ¥8.72B | ¥8.01B | ¥12.6B | -¥910M | ¥3.24B |
| Capital expenditure | ¥2.29B | ¥2.05B | ¥3.69B | ¥2.26B | ¥1.94B |
| Total debt | ¥51.0B | ¥52.0B | ¥46.9B | ¥37.8B | ¥20.4B |
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 |
|---|---|---|---|---|---|---|
| JMDC 4483.T | $1.52B | +10% | +19% | 20% | 31.9× | 19.7% |
| Iqvia IQV | $44.8B | +52% | +9% | 14% | 19.7× | 17.3% |
| M3 Inc 2413.T | $7.78B | +20% | +9% | 19% | 23.5× | 0.5% |
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 | 4483.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.0% | -16.4% | 6th highest of 21 |
| 6-month return | +10.1% | -36.9% | 4th highest of 19 |
| Distance from 52-week high | -26.2% | -48.6% | 4th highest of 21 |
| Revenue growth (TTM) | +18.9% | +10.7% | 10th highest of 21 |
| Operating margin | 19.6% | -1.2% | 3rd highest of 21 |
| Forward P/E | 31.9× | 19.1× | 5th most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 19.7% | 10.9% | 4th most demanding of 10 |
| Growth delivered (Del g) | +24.6% | +10.7% | 5th highest of 10 |
| Hurdle (Req g minus delivered) | -5.0 pp | +0.2 pp | 5th least demanding of 10 |
| ROIC minus cost of capital | -2.3 pp | -7.5 pp | 5th highest of 19 |
| EV / EBITDA | 19.1× | 13.3× | 4th most expensive of 11 |
| Net debt / EBITDA | 1.5× | 1.2× | 7th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| JMDC 4483.T | Japan | $1.52B | +10% | +19% | 20% | 31.9× | 19.7% | +24.6% |
| Suncorporation 6736.T | Japan | $1.49B | +22% | -11% | 1% | n/a | n/a | n/a |
| ChronoScale CHRN | United States | $1.57B | -31% | +190% | -68% | n/a | n/a | n/a |
| HawkEye 360 HAWK | United States | $1.45B | -55% | +88% | -8% | n/a | n/a | n/a |
| Bitdeer Technologies BTDR | United States | $1.63B | -55% | +128% | -30% | n/a | n/a | n/a |
| Capitalonline Data Service 300846.SZ | China | $1.28B | -37% | 0% | -7% | n/a | n/a | n/a |
| Innodata INOD | United States | $1.27B | -56% | +39% | 17% | 37.3× | 15.9% | +34.0% |
| ASrock Rack 7711.TW | Taiwan | $1.23B | +35% | +183% | 10% | 15.3× | 7.5% | +42.1% |
| Rendong 002647.SZ | China | $1.20B | -43% | +6% | 6% | 19.1× | 42.3% | -17.2% |
| Shenzhen Xunce Technology 3317.HK | Hong Kong | $1.93B | -79% | +287% | -3% | 200.1× | n/a | n/a |
| Keel Infrastructure KEEL | United States | $1.15B | -53% | -23% | -121% | n/a | n/a | n/a |
| Liberty Capital GLIBA | United States | $1.06B | -2% | +13% | 13% | 8.0× | 0.8% | +113.1% |
| VNET Group, Inc. Sponsored ADR VNET | United States | $1.00B | -64% | +23% | 7% | 89.6× | n/a | n/a |
| DXC Technology DXC | United States | $2.31B | +58% | -3% | 1% | 5.8× | 3.2% | -6.5% |
| BLS International Services BLS.NS | India | $973M | -23% | +29% | 23% | 10.7× | 9.7% | +44.4% |
| Csquare CSQR | United States | $2.39B | n/a | +9% | 10% | n/a | n/a | n/a |
| Beijing Topnew Info & Tech 300895.SZ | China | $938M | -27% | +1% | -25% | n/a | 54.6% | -3.4% |
| Sunevision 1686.HK | Hong Kong | $2.46B | -29% | +6% | 52% | 14.3× | 10.9% | +10.7% |
| Kingsoft Cloud 3896.HK | Hong Kong | $2.54B | -47% | +35% | -3% | n/a | n/a | n/a |
| Ionic Digital IOND | United States | $2.68B | n/a | -8% | -44% | 28.0× | n/a | n/a |
| Beijing Sinnet Technology 300383.SZ | China | $2.70B | -37% | -2% | -11% | 149.7× | 46.5% | -0.7% |