Micware Co., Ltd.
Rank #195ValueMWC · Nasdaq · Consumer Cyclical
Micware Co., Ltd. (MWC) — Rank #195 by gross profitability (GP/assets 0.33) · ROE 20.0% · Piotroski F-Score 6 / 9.
As-of 2026-09-15 · CIK 0002083526 · all metrics point-in-time as of the filing date.
About
Micware Co., Ltd. provides software development services and information technology solutions focusing on the automotive and mobility sectors in Japan and internationally.
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The company operates three segments: Software Defined Vehicles, Location-Based Services, and Others. Its Software Defined Vehicles segment develops and sells software systems designed for SDV, including in-vehicle infotainment (IVI) system software and other mobility-enhancing software products. The Location-Based Services segment engages in the development and licensing of in-vehicle navigation software systems, and other geographic data-based services for business-to-business customers. Its Other segment comprises software development services for SDV, and business-to-consumer mobile app services unrelated to in-vehicle navigation. It engages in the development and sale of IVI systems that for automotive multimedia, navigation, human machine interface, telematics, and driver assistance. The company also specializes in the development of navigation software and location information-based smartphone applications. Micware Co., Ltd.
was incorporated in 2003 and is headquartered in Kobe, Japan.
- Industry
- Auto Parts
- Sector
- Consumer Cyclical
- State
- M0
- Filer Category
- Non-accelerated filerEmerging growth company
- Fiscal Year End
- February 28
- Website
- micware.co.jp
Price History
Company Snapshot
P/E and dividend yield are the primary valuation lenses for mature businesses.
Market Cap
$114.68M
P/E (annual)
0.1
P/S (annual)
0.0
P/B
0.0
P/OCF (annual)
0.1
Shareholder Yield
-7.4%
Employees
483
Industry
Auto Parts
Exchange
Nasdaq
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passTerry Smith quality gate
Passes 2/5 Terry Smith thresholdsWhat Growth Is Priced In
Implied revenue growth (10Y)
-94.5%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Dilution drag: 7.4% — per-share value needs a total required return of -87.1% once share-count change is priced in.
vs. own 6-year median revenue growth: 3.7%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
-94.6%
r = 10% (base)
-94.5%
r = 12%
-94.4%
Net debt / market cap: -4815.8%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).
Profitability
Gross profitability (GP / assets)
0.33
Primary signal (Novy-Marx).
39th pctl of 98 SIC 73 peers
Return on equity
20.0%
Gross margin
36.8%
16th pctl of 97 SIC 73 peers
Revenue growth (YoY)
3.7%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2024 | 2025 | 2026 | |
|---|---|---|---|
| Revenue vs COGS | |||
| Revenue vs OpEx | |||
| Op. Income vs Revenue |
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.93
1st pctl of 87 SIC 73 peers (best = lowest)
Current ratio
1.66×
42nd pctl of 97 SIC 73 peers
Quick ratio
1.14×
Net cash
$5.21B
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$2.05B
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.28
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
—
Stock-based comp intensity.
Piotroski F-Score
F-Score
6 / 9
Fundamental-strength score (0-9).