J-star Holding Co., Ltd. is a US-listed company in the specialty chemicals industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Fair value per share
Under review: every model's value for J-star Holding Co., Ltd. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.
Price vs value
Under review: cash-flow, stock-pay or share-count figures missing or out of date. We'll show the comparison once resolved.
J-star Holding Co., Ltd. valuation: adjust assumptions and compare models →
The Fundamentalytics view
J-star Holding Co., Ltd.'s trailing-twelve-month revenue fell 43.5% year on year, with a free-cash-flow margin of -33.9%. Where it stands out: gross margin of 54.1% ranks 4 of 40 specialty chemicals companies we cover. Where it lags: revenue growth of -43.5% ranks 40 of 42 specialty chemicals companies we cover.
Current signal Revenue growth decelerating: TTM revenue growth slowed to -43.5% (-17.4pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
Nothing in J-star Holding Co., Ltd.'s latest figures clears our strength thresholds.
Things to watch
- Revenue shrinking. Revenue fell 43.5% over the last 12 months.
- Growth slowing. The growth rate is 17.4 points lower than a quarter earlier.
- Loss-making. Operating margin is -207.7%: costs exceed revenue.
- Margins narrowing. Operating margin is down 214.1 points on a year ago.
- Burning cash. Free cash flow was -33.9% of revenue over the last 12 months.
- Share dilution. Diluted shares rose 3.8% in a year.
Price chart
- 1 day-15.9%
- 1 week-38.9%
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Third-party market data · may be delayed
At a glance
Profitability
- Revenue (TTM)
- $9.9M
- Operating margin
- -207.7%
- Net margin
- -203.2%
- EPS (TTM, diluted)
- $-1.23
Growth
- Revenue growth
- −43.5%
- Change in growth rate
- −17.4 pts
- Share count change
- +3.8%
Cash
- Free cash flow (TTM)
- -$3.4M
- FCF margin
- -33.9%
- Stock pay % of revenue
- 0.9%
News & updates
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for YMAT from the sources we follow. See filings →
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
Valuation models
We value J-star Holding Co., Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 9.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.92 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | ~$0.3 ~$0.5–$1.4 | Left out: out of range vs price (0.20x) |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare J-star Holding Co., Ltd. with Specialty Chemicals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
Forecasts and guidance
Analysts' consensus
No analyst estimates are published for J-star Holding Co., Ltd.: too few analysts cover it.
Positioning
- Short interest
- 3.5% of tradable shares
- Days to cover
- 0.01 at average volume
- Short interest, 1 month
- +40% to October 15, 2026
- Held by institutions
- 0% of shares
- Held by insiders
- 49.7% of shares
- Employees
- 65 full time
Share-price performance
Market data may be delayedPrice behaviour
- 52-week range
- Not enough history
- From 52-week high
- —
- vs 50-day average
- —
- vs 200-day average
- —
- Volatility (1 year)
- —
- Beta vs S&P 500
- —
J-star Holding Co., Ltd. in five measures
Fundamentals
Financial statements
| Fiscal year | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|
| Income | |||
| Revenue | 24 | 18 | 10 |
| Gross profit | 3 | 6 | 5 |
| EBITDA | −1 | 1 | −20 |
| Operating income | −1 | 1 | −21 |
| Net income | 1 | 1 | −20 |
| Diluted EPS | $0.09 | $0.07 | −$1.23 |
| Growth (year on year) | |||
| Revenue | — | −26.1% | −43.5% |
| EBITDA | — | — | <−999% |
| Operating income | — | — | <−999% |
| Net income | — | −22.2% | <−999% |
| Diluted EPS | — | −22.2% | <−999% |
| Margins | |||
| Gross margin | 12.3% | 32.1% | 54.1% |
| EBITDA margin | −2.6% | 7.2% | −205.7% |
| Operating margin | −3.7% | 6.3% | −207.7% |
| Net margin | 6.0% | 6.3% | −203.2% |
| Free-cash-flow margin | 29.2% | −17.6% | −33.9% |
| Cash flow | |||
| Cash from operations | 7 | −3 | −3 |
| Capital spending | 0 | 0 | 0 |
| Free cash flow | 7 | −3 | −3 |
| Stock-based pay | 0 | 0 | 0 |
| Free cash flow after stock pay | 7 | −3 | −3 |
| Balance sheet | |||
| Cash | 1 | 1 | 0 |
| Total debt | 0 | 10 | 13 |
| Net debt (negative = net cash) | −1 | 9 | 13 |
| Diluted shares | 16m | 16m | 16m |
Financial health
- Short-term assets cover short-term liabilities $6m of assets due within a year against $13m of liabilities due within a year.
- Short-term assets cover long-term liabilities $6m short-term assets against $1m of longer-dated liabilities.
- More cash than debt $97,669 of cash against $13m of debt.
- Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
- Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
- A year's operating cash flow covers at least 20% of debt −$3m of operating cash flow against $13m of debt.
- Operating profit covers interest at least five times over Operating income of −$21m against $12,611 of interest.
Dividends, buybacks and capital spending
- Diluted share count
- +3.8%
- year over year
- R&D spending
- 8.9%
- of revenue
Competitors: side by side with peers
| Last 12 months unless stated | YMAT | PMA | BON | ZONE | ASPI | CNEY | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $10m | $15m | $19m | $3m | $31m | $36m | $906m |
| Revenue growth, last 12 months | −43.5% | −56.8% | −21.7% | 64.2% | 573.4% | −30.2% | 5.4% |
| Revenue growth, latest quarter | — | — | — | −0.8% | 327.6% | — | 8.3% |
| Gross margin | 54.1% | −18.4% | 20.8% | 37.8% | 18.3% | 1.8% | 28.8% |
| Operating margin | −207.7% | −37.4% | −8.7% | <−999% | −321.1% | −30.9% | 4.3% |
| Operating margin, 3-year average | — | — | — | −711.2% | −655.6% | — | 5.5% |
| Net margin | −203.2% | −39.4% | −10.7% | <−999% | −380.3% | −31.3% | 0.8% |
| Cash from operations / revenue | −31.8% | 5.4% | 0.8% | −533.5% | −219.8% | −5.5% | 6.9% |
| Free-cash-flow margin | −33.9% | 4.8% | 0.7% | −534.7% | −270.9% | −5.5% | 4.3% |
| Free-cash-flow margin, 3-year average | — | — | — | −248.7% | −545.1% | — | 5.1% |
| Stock pay / revenue | 0.9% | — | 7.5% | 271.1% | 60.5% | — | 1.0% |
| Change in share count | 3.8% | 9.5% | >999% | — | 59.6% | 610.5% | 0.1% |
Peer comparison
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | -43.5% | 6.0% | 40 of 42 |
| Change in growth rate Growth | -17.4pp | +1.3pp | 38 of 42 |
| Gross margin Profitability | 54.1% | 31.5% | 4 of 40 |
| Operating margin Profitability | -207.7% | 3.8% | 33 of 39 |
| Net margin Profitability | -203.2% | 1.7% | 36 of 42 |
| Free-cash-flow margin Cash generation | -33.9% | 4.8% | 37 of 42 |
| Stock pay as % of revenue Cash generation | 0.9% | 1.0% | 17 of 36 |
| Long-term debt as % of assets Balance sheet | 14.4% | 26.8% | 10 of 36 |
| Change in share count Balance sheet | 3.8% | 0.0% | 25 of 37 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
Insider trading activity
Full insider history and chartFrom insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
J-star Holding Co., Ltd. in brief
- What does J-star Holding Co., Ltd. do?
- J-star Holding Co., Ltd. is a US-listed company in the specialty chemicals industry. Its financial year ends in December.
- What is J-star Holding Co., Ltd.'s stock ticker?
- J-star Holding Co., Ltd. trades under the ticker YMAT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- What is J-star Holding Co., Ltd.'s revenue, and how fast is it growing?
- Over its most recent trailing twelve months, J-star Holding Co., Ltd. reported revenue of $9.9M, 43.5% lower than a year earlier, according to its SEC filings.
- What is J-star Holding Co., Ltd.'s free cash flow?
- J-star Holding Co., Ltd.'s free-cash-flow margin is -33.9% of revenue over the trailing twelve months, ranking 37 of the 42 specialty chemicals companies we cover.
- Who are J-star Holding Co., Ltd.'s competitors?
- In our Specialty Chemicals peer group, the companies closest to J-star Holding Co., Ltd. are PMA Graphene Technology Group Inc., Bon Natural Life Ltd, Zone Frontier Inc., ASP Isotopes Inc. and CN Energy Group. Inc. The side-by-side comparison below sets their revenue, margins and growth against J-star Holding Co., Ltd.'s.
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