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Welby Inc. logo

Welby Inc.

4438.T

JPXHealthcareMedical - Healthcare Information Services

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Latest quote

¥258

−¥2.00 · -0.77%

Aug 24, 2:15 PM JSTData delayed

4438.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Established in Tokyo, Japan, in 2011, Welby Inc. specializes in developing digital healthcare solutions aimed at enhancing patients' access to and engagement with medical services. The company's extensive portfolio addresses a wide array of health conditions, encompassing diabetes mellitus, lifestyle-related diseases, mental health disorders, autoimmune and neurological diseases, rare conditions, oncology, and pain management. Furthermore, Welby is active in medical data surveying and operates its signature platform, Welby My Carte.

Industry
Medical - Healthcare Information Services
Sector
Healthcare
Headquarters
JP
CEO
Takeru Hiki
Listed since
Apr 1, 2019
Employees
44

Market position

Day range

Current ¥258

52-week range

Current ¥258

Open
¥262
Previous close
¥260
Volume
3.1K
0.08× average
Average volume
36.94K
Average daily volume
Market cap
2.18B JPY
Beta
1.2
Market reference 1
50-day average
¥251.3
+2.67% above average
200-day average
¥293.75
-12.17% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
2.2B JPY
P/E (TTM)
-4.13×
P/B (TTM)
24.64×
P/S (TTM)
3.01×
EV / EBITDA
-4.4×
Earnings yield
-23.37%
Free cash flow yield
-14.39%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
69.64%
Operating margin
-63.47%
Net margin
-71.80%
Return on equity
-198.18%
Return on assets
-51.19%
Return on invested capital
-49.65%

Financial health

Debt / equity
6.01×
Current ratio
2.44×
Altman Z-score
-3.31
Piotroski F-score
2 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends94%5%-85%-175%Gross margin, FY2021: 60.04%Gross margin, FY2022: 71.88%Gross margin, FY2023: 65.39%Gross margin, FY2024: 71.95%Gross margin, FY2025: 70.58%Operating margin, FY2021: -9.93%Operating margin, FY2022: 5.80%Operating margin, FY2023: -76.00%Operating margin, FY2024: -123.94%Operating margin, FY2025: -71.23%Net margin, FY2021: -11.47%Net margin, FY2022: 3.23%Net margin, FY2023: -87.83%Net margin, FY2024: -152.37%Net margin, FY2025: -84.89%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 60.04%. Gross margin FY2022 71.88%. Gross margin FY2023 65.39%. Gross margin FY2024 71.95%. Gross margin FY2025 70.58%. Operating margin FY2021 -9.93%. Operating margin FY2022 5.80%. Operating margin FY2023 -76.00%. Operating margin FY2024 -123.94%. Operating margin FY2025 -71.23%. Net margin FY2021 -11.47%. Net margin FY2022 3.23%. Net margin FY2023 -87.83%. Net margin FY2024 -152.37%. Net margin FY2025 -84.89%.

Income trends

Revenue

635.72M JPY+20.39%

Operating income

−452.83M JPY+30.81%

Net income

−539.69M JPY+32.93%
Income trends across reported periods1.33B JPY556.05M JPY−221.47M JPY−998.98M JPYRevenue, FY2021: 1.14B JPYRevenue, FY2022: 1.05B JPYRevenue, FY2023: 575M JPYRevenue, FY2024: 528.04M JPYRevenue, FY2025: 635.72M JPYOperating income, FY2021: −113.12M JPYOperating income, FY2022: 60.91M JPYOperating income, FY2023: −437M JPYOperating income, FY2024: −654.45M JPYOperating income, FY2025: −452.83M JPYNet income, FY2021: −130.68M JPYNet income, FY2022: 33.91M JPYNet income, FY2023: −505M JPYNet income, FY2024: −804.6M JPYNet income, FY2025: −539.69M JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 1.14B JPY. Revenue FY2022 1.05B JPY. Revenue FY2023 575M JPY. Revenue FY2024 528.04M JPY. Revenue FY2025 635.72M JPY. Operating income FY2021 −113.12M JPY. Operating income FY2022 60.91M JPY. Operating income FY2023 −437M JPY. Operating income FY2024 −654.45M JPY. Operating income FY2025 −452.83M JPY. Net income FY2021 −130.68M JPY. Net income FY2022 33.91M JPY. Net income FY2023 −505M JPY. Net income FY2024 −804.6M JPY. Net income FY2025 −539.69M JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue635.72M JPY528.04M JPY575M JPY1.05B JPY1.14B JPY
Cost of goods sold187.06M JPY148.13M JPY199M JPY295.55M JPY455.27M JPY
Gross profit448.67M JPY379.92M JPY376M JPY755.44M JPY683.92M JPY
Selling, general, and administrative901.5M JPY1.03B JPY813M JPY692.68M JPY796.72M JPY
Operating expenses901.5M JPY1.03B JPY813M JPY694.53M JPY797.04M JPY
Interest income1.01M JPY332K JPY8K JPY10K JPY11K JPY
Interest expense2.83M JPY1.62M JPY20K JPY53K JPY86K JPY
Depreciation and amortization29.26M JPY22M JPY2.87M JPY2.08M JPY604K JPY
Operating income−452.83M JPY−654.45M JPY−437M JPY60.91M JPY−113.12M JPY
Net income−539.69M JPY−804.6M JPY−505M JPY33.91M JPY−130.68M JPY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
-8.29

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates-7.05-16.73-26.41-36.09Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Q4 2024, reported Nov 14, 2024: actual -26.79, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 14, 2025: actual -34.03, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 15, 2025: actual -20.27, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 13, 2025: actual -9.17, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 14, 2025: actual -20.79, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Feb 13, 2026: actual -14.98, estimate —, surprise —, Comparison unavailable. Q2 2026, reported May 15, 2026: actual -18.41, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 13, 2026: actual -8.29, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates267.96M205.32M142.68M80.04MQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Q4 2024, reported Nov 14, 2024: actual 112M JPY, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 14, 2025: actual 231M JPY, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 15, 2025: actual 120M JPY, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 13, 2025: actual 167M JPY, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 14, 2025: actual 93M JPY, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Feb 13, 2026: actual 255M JPY, estimate —, surprise —, Comparison unavailable. Q2 2026, reported May 15, 2026: actual 133M JPY, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 13, 2026: actual 243M JPY, estimate —, surprise —, Comparison unavailable.

Corporate actions

Corporate action history

Stock split

Effective Oct 2, 2019

4:1

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