Added to YB: 2025-05-01
Pitch date: 2025-05-01
4192.T [bullish]
SpiderPlus & Co.
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
N/A
Price Target
1.0K
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.
Read full article (4 min)