Added to YB: 2025-05-01
Pitch date: 2025-05-01
4192.T [bullish]
SpiderPlus & Co.
-32.94%
current return
Author Info
Clark Square Capital is a former equity analyst and now a full-time investor managing their own capital. Sign up for their newsletter
Company Info
SpiderPlus & Co. engages in developing and providing construction tech app in Japan. It offers SPIDERPLUS, an architectural drawing and site management application for the construction industry.
Market Cap
JPY 10.2B
Pitch Price
JPY 510.00
Price Target
1.0K (+192%)
Dividend
N/A
EV/EBITDA
30.42
P/E
162.22
EV/Sales
1.67
Sector
Software
Category
growth
Quick Pitch #23
4192.T (new position): Japanese construction SaaS at 2.8x '25 ARR vs 3.7x median peer. ARR JPY4.5B growing ~30%, 70% GM, 120%+ NDR. Tailwinds: overtime caps, low DX penetration (~20% vs 50-70% West), ARPU doubling to JPY10k. Turns profitable H2 FY25 (mid-term 20% margins), driving re-rate. Private peer ANPAD raised at low-teens rev mult. PT JPY1,000 (~2x) in 2yrs.
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