CyberAgent Inc (CYGIY) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of CyberAgent Inc stock $4.38, price $4.24, upside +3.3%, quality 70 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range $2.09 – $10.02 · fair‑value band $3.28 – $5.47 · the $4.24 price screens below the $4.38 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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CyberAgent, Inc., together with its subsidiaries, engages in the internet advertising business in Japan. It operates through Media Business, Internet Advertising Business, Game Business, Investment Development Business, and Other Businesses segments.
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The company operates Ameba, a video streaming platform with various channels, including 24-hour news, dramas, romance shows, anime, and sports; and WinTicket for internet betting for sports events, such as horse, bicycle, and auto racing, as well as fan community app development and service management; IP works and content; performance; merchandising; and overseas marketing.
It also offers AI solutions; creative production; DX business; research and consulting; and smartphone games.
In addition, the company engages in news content planning and production; smartphone advertising; creative office planning and management; corporate venture capital; fund establishment and management; crowdfunding; and management of professional soccer teams.
CyberAgent, Inc. was incorporated in 1998 and is headquartered in Shibuya, Japan.
Stock analysis
CyberAgent Inc (CYGIY) currently trades at $4.24, while our model-based Fair Value estimate is $4.38, so the stock looks roughly fairly valued today (gap 3.2%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of $7.68 per share, and 15 of the 26 models we run sit above the $4.24 price.
Bear case: the Dividend Discount group reads lowest at $0.6900, and 11 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $3.28 (bear) to $5.47 (bull), the price of $4.24 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 70/100 (solid quality), in the Communication Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
CyberAgent Inc ADR reported revenue of ¥879B in FY2025 versus ¥666B in FY2021, a compound +7.2%/yr. Reported net income was ¥31.9B in FY2025, compounding −6.4%/yr from FY2021.
Key figures
Market cap $4.6B Mid · P/E ratio 16.3 · P/S ratio 0.59 · EPS (TTM) $0.2600 · Dividend yield 1.5% · Net margin 3.6% · Return on equity 20.3% · Return on assets (EBIT) 14.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at 3%, CYGIY screens richer than that median.
Fair Value models
Bear$3.28Fair Value $4.38Bull$5.47
Price $4.24 · Upside +3.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($0.2600 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.88/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+9.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.9%
Start year 2020 (pandemic). Over 10 years: +13.2% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.1%
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What shareholders gained per year (last 5 years), in JPY (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in JPY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+3.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.4%
Dividend (yield on the price)1.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.17.3% vs 8.2%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.7% → 8%
2025 sits 102% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−8.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about −10.1% a year for the price and +3.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (18 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Negative
Recent news coverage is more negative than average.
AI conclusion: AI research gains in advertising operations offer a potential edge in data-driven ads, yet modest scale and low margins persist without evidence of a durable moat in a competitive field.
Main risk: Execution and integration demands from expanded AI use and the new executive structure could raise operational complexity and pressure already thin margins in advertising services.
CyberAgent keeps pushing AI deeper into its advertising operations, with its lab securing a record nine papers at a leading natural language processing conference this month. A fresh executive structure took effect early October as well. Will these steps widen the edge in data-driven ads or mainly raise the bar for execution and integration?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Advertising Agencies · 170 stocks
Beats the industry median on 10/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside+3.3% · Below median
Profitability
Return on equity (12 months)20.3% · Top 25%
Return on assets5.6% · Top 25%
Net margin (12 months)4.6% · Above median
Operating margin (12 months)6.5% · Above median
Growth and dividend
Revenue growth (quarter YoY)9.4% · Above median
Dividend yield (12 months)1.5% · Below median
Balance sheet
Debt / equity0.50× · Highest 25%
Valuation Multiplesvs Advertising Agencies median · lower = cheaper
P/E (12 months)16.3× · Cheaper than median
P/B3.87× · Priciest 25%
P/S (12 months)0.76× · Cheaper than median
Price / free cash flow (fiscal year)10.6× · Pricier than median
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Is CyberAgent Inc (CYGIY) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of $4.38 versus a price of $4.24, about +3% upside (fairly valued).
What is the fair value of CYGIY?
Our model-based fair value for CyberAgent Inc is $4.38 (as of Nov 3, 2026), built from audited fundamentals. The current price: $4.24.
What is the quality score of CYGIY?
CyberAgent Inc has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for CyberAgent Inc (CYGIY)?
Our model-based price target is the fair value of $4.38 (as of Nov 3, 2026) from 26 valuation models. Cautious scenario $3.28, optimistic scenario $5.47. It is a calculation from audited fundamentals, not an analyst target.
What is the CyberAgent Inc ADR stock forecast for 2026?
Our models put fair value at $4.38, about +3% upside versus a price of $4.24 (fairly valued). Cautious scenario $3.28, optimistic scenario $5.47. The calculation is refreshed regularly with new filings.
What is the revenue of CyberAgent Inc (CYGIY)?
CyberAgent Inc reported trailing-twelve-month revenue of about ¥951B (latest available figure, as of Nov 3, 2026).
Does CyberAgent Inc ADR pay a dividend?
CyberAgent Inc currently shows a dividend yield of 1.46% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of CyberAgent Inc (CYGIY) and when is the ex-dividend date?
CyberAgent Inc has a dividend yield of 1.5%. The last ex-dividend date was Sep 30, 2025. A dividend has been paid every year since at least 2013. The payout ratio is 31.2% of earnings. Free cash flow covers the dividend 6.82 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into CyberAgent Inc (CYGIY)?
For today's price to be fair in a discounted-cash-flow model, CyberAgent Inc would have to grow free cash flow by -8.2 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.9 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of CYGIY use?
Our models discount CyberAgent Inc at 8.9 %: a base by market capitalisation (mid), damped by beta 0.64, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For CyberAgent Inc that is -8.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has CyberAgent Inc (CYGIY) delivered so far?
Over the past 5 years revenue at CyberAgent Inc grew +12.9 % a year. The price currently implies free-cash-flow growth of -8.2 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of CyberAgent Inc (CYGIY) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into CyberAgent Inc (-8.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of CyberAgent Inc (CYGIY)?
The free-cash-flow yield on the price is 9.40 %: that much free cash flow CyberAgent Inc produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of CyberAgent Inc (CYGIY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CyberAgent Inc it is $4.38 per share (as of Nov 3, 2026), against a price of $4.24. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is CyberAgent Inc ADR stock overvalued or undervalued in 2026?
As of Nov 3, 2026, CYGIY trades below its calculated fair value: price $4.24, fair value $4.38, a gap of about +3% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CYGIY?
No. The price is what the market pays today ($4.24); the fair value is what the company's own numbers justify ($4.38). For CyberAgent Inc the two are $0.1400 per share apart. That gap is exactly why we show both numbers side by side.
How much is CyberAgent Inc ADR worth?
The market values CyberAgent Inc at about $4.6B (market capitalisation, as of Nov 3, 2026). Per share that is $4.24; our models calculate a fair value of $4.38 per share.
What do the bullish and bearish scenarios say about CYGIY?
Our models span a range for CyberAgent Inc: cautious scenario $3.28, base $4.38, optimistic $5.47 per share (as of Nov 3, 2026, price $4.24). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CYGIY?
CyberAgent Inc trades at a price-to-earnings ratio of 16.3 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $4.38 is built from several models across several years. Other multiples: PEG 1.0, P/B 3.9, P/S 0.8, EV/EBITDA 5.9.
What is the PEG ratio of CYGIY?
The PEG ratio of CyberAgent Inc is 1.01 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of CyberAgent Inc (CYGIY)?
Balance-sheet figures for CyberAgent Inc (as of Nov 3, 2026): return on equity 20.3%, debt of 0.50 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
Which stocks are comparable to CyberAgent Inc ADR?
From the same area (Communication Services) we also value AppLovin Corporation, Publicis Groupe S.A, Omnicom Group, Focus Media Information Technology Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is CyberAgent Inc ADR stock attractive at the current price?
The data as of Nov 3, 2026: price $4.24, calculated fair value $4.38 (+3%), Quality Score 70/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CYGIY calculated?
We run CyberAgent Inc through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $4.38 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. CyberAgent Inc currently trades 3% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of CyberAgent Inc (CYGIY)?
The closing price on Nov 6, 2026 was $4.24. Our model-based fair value is $4.38, about +3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CyberAgent Inc ADR right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of CyberAgent Inc (CYGIY) come from?
Earnings per share at CyberAgent Inc grew +3.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.5 %, EBIT margin −7.8 %, tax rate +0.7 %, residual (interest, one-offs) −1.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of CyberAgent Inc
How large is the market capitalisation of CyberAgent Inc (CYGIY)?
The market capitalisation of CyberAgent Inc is $4.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of CyberAgent Inc (CYGIY)?
The price-to-sales ratio of CyberAgent Inc is 0.59 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of CyberAgent Inc (CYGIY)?
Earnings per share at CyberAgent Inc are $0.2600 (price ÷ EPS = P/E 16.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of CyberAgent Inc (CYGIY)?
The dividend yield of CyberAgent Inc is 1.5% (payout 23.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of CyberAgent Inc (CYGIY)?
The net margin of CyberAgent Inc is 3.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of CyberAgent Inc (CYGIY)?
The return on equity (ROE) of CyberAgent Inc is 20.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of CyberAgent Inc (CYGIY)?
On an EBIT basis the return on assets of CyberAgent Inc is 14.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of CyberAgent Inc (CYGIY)?
The operating margin of CyberAgent Inc is 6.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CyberAgent Inc (CYGIY)?
Revenue at CyberAgent Inc is growing +9.4% versus a year earlier (3y avg +7.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at CyberAgent Inc (CYGIY)?
Earnings per share at CyberAgent Inc are growing +5.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does CyberAgent Inc (CYGIY) hold?
CyberAgent Inc holds more cash than debt, ¥139B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 3, 2026