Fact based stock research
Change (TSE:3962)

JP3507750002

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Change stock research in summary

change-jp.com

ANALYSIS: With an Obermatt Combined Rank of 94 (better than 94% compared with investment alternatives), Change (IT Consulting & oth. Services, Japan) shares have much better financial characteristics than comparable stocks. Shares of Change are a good value (attractively priced) with a consolidated Value Rank of 85 (better than 85% of alternatives), show above-average growth (Growth Rank of 89) but are riskily financed (Safety Rank of 41), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 94, is a strong buy recommendation based on Change's financial characteristics. As the company Change's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 85) and above-average growth (Obermatt Growth Rank of 89), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 41) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	85
Growth Rank	89
Safety Rank	41
Combined Rank	94

Country	Japan
Industry	IT Consulting & oth. Services
Index
Size class	Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

It’s easier said than done. When your stock drops, it’s easy to want to sell it and find a better performer. Think twice, or even three times, before trading. Those fees (especially the hidden ones) can eat up your gains.

Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Change

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	69	74	91	85
GROWTH
GROWTH	67	63	85	89
SAFETY
SAFETY	85	85	73	41
SENTIMENT
SENTIMENT	94	51	37	^new
360° VIEW
360° VIEW	100	89	89	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Change is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	69	74	91	85
GROWTH
GROWTH	67	63	85	89
SAFETY
SAFETY	85	85	73	41
COMBINED
COMBINED	96	100	98	94

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Change the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 85 (better than 85% compared with alternatives) for 2025, Change shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators that are all above average for Change. Price-to-Sales is 64 which means that the stock price compared with what market professionals expect for future sales is lower than for 64% of comparable companies, indicating a good value for Change's revenue size. The same is valid for expected Price-to-Profits, more favorable than for 86% of alternatives, and this is also true for the Price-to-Book capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 68. Compared with other companies in the same industry, dividend yields of Change are expected to be higher than for 75% of all competitors (a Dividend Yield rank of 75). ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 85, is a buy recommendation based on Change's stock price compared with the company's operational size and dividend yields. Since all value metrics are above the industry average, there is no objection to investing in Change based on its detailed value metrics. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	44	46	70	64
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	59	93	89	86
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	62	60	72	68
DIVIDEND YIELD
DIVIDEND YIELD	59	65	75	75
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	69	74	91	85

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Change; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 89 (better than 89% compared with alternatives) for 2025, Change shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Change. Sales Growth has a value of 77 which means that currently professionals expect the company to grow more than 77% of its competitors. Profit Growth with a value of 79 and Capital Growth with a rank of 93 means that currently, professionals expect the company to grow both profits and invested capital more than of its competitors. But Stock Returns has only a rank of 39, which means that stock returns have recently been below 61% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 89, is a buy recommendation for growth and momentum investors. Change has only one below-average growth indicator, the stock returns. This is probably the least reliable growth indicator, because it measures company and investor expectations at the same time. The three other growth indicators, which are all positive for Change, are more reliable measures of growth momentum. For this reason, the company seems to be on a good trajectory, unless you think the current period is not representative, because of unique events that will not be repeated in the future. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	86	95	99	77
PROFIT GROWTH
PROFIT GROWTH	69	83	65	79
CAPITAL GROWTH
CAPITAL GROWTH	55	99	94	93
STOCK RETURNS
STOCK RETURNS	23	7	31	39
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	67	63	85	89

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Change.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 41 (better than 41% compared with alternatives), the company Change has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Change is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Change and the other two below average. Refinancing is at 79, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 79% of its competitors. But Leverage is high with a rank of 12, meaning the company has an above-average debt-to-equity ratio. It has more debt than 88% of its competitors. Liquidity is also on the riskier side with a rank of 45, meaning the company generates less profit to service its debt than 55% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 41 (worse than 59% compared with alternatives), Change has a financing structure that is riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for Change are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with Change and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	57	56	24	12
REFINANCING
REFINANCING	83	73	79	79
LIQUIDITY
LIQUIDITY	67	77	77	45
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	85	85	73	41

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Change and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	84	84	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	50	50	^new
PRO HOLDINGS
PRO HOLDINGS	92	59	63	^new
MARKET PULSE
MARKET PULSE	46	27	32	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	94	51	37	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Change.
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