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- System Research
System Research Valuation Multiples
Discover revenue and EBITDA valuation multiples for System Research and similar public comparables like Elad Software, Gofore, Info-Tech Systems, Digital Information Technologies and more.
System Research Overview
About System Research
System Research Co Ltd is a software application service provider in Japan. The business of the company includes SI service operations, outsourcing business, web-related business, software development work, software product business, and product sales.
Founded
1981
HQ

Employees
943
Website
Sectors
Financials (LTM)
EV
$138M
Valuation Multiples
Start free trialSystem Research Financials
System Research reported last 12-month revenue of $184M.
In the same LTM period, System Research generated $17M in net income.
Revenue (LTM)
System Research P&L
In the most recent fiscal year, System Research reported revenue of $184M and EBITDA of $23M.
System Research is profitable as of last fiscal year, with gross margin of 23%, EBITDA margin of 13%, and net margin of 9%.
Financial data powered by Morningstar, Inc.
System Research Stock Performance
System Research has current market cap of $184M, and enterprise value of $138M.
Market Cap Evolution
System Research's stock price is $11.10.
System Research share price increased by 3.5% in the last 30 days, and decreased by 19.3% in the last year.
System Research has an EPS (earnings per share) of $1.00.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $138M | $184M | -0.0% | 3.5% | 7.5% | -19.3% | $1.00 |
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Start Free TrialSystem Research Valuation Multiples
System Research trades at 0.7x EV/Revenue multiple, and 5.9x EV/EBITDA.
EV / Revenue (LTM)
System Research Financial Valuation Multiples
As of July 19, 2026, System Research has market cap of $184M and EV of $138M.
System Research has a P/E ratio of 11.1x.
Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified System Research Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.


System Research Margins & Growth Rates
In the most recent fiscal year, System Research reported gross margin of 23%, EBITDA margin of 13%, and net margin of 9%.
System Research Margins
System Research Growth Rates
Data powered by FactSet, Inc. and Morningstar, Inc.
System Research Operational KPIs
System Research's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.0M for the same period.
System Research's Rule of 40 is 16% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
System Research's Rule of X is 20% (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Data powered by FactSet, Inc. and Morningstar, Inc.
System Research Competitors
System Research competitors include Elad Software, Gofore, Info-Tech Systems, Digital Information Technologies, Digia, ISG, Columbus, Startia Holdings, Axtel and Core.
Most System Research public comparables operate across IT Consulting.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| 0.9x | - | 9.9x | - | |||
| 0.9x | 0.8x | 8.4x | 7.4x | |||
| 3.1x | 2.5x | 7.3x | 5.6x | |||
| 0.9x | 0.9x | 7.2x | - | |||
| 0.8x | 0.8x | 6.9x | 7.1x | |||
| 1.0x | 0.9x | 7.3x | 7.0x | |||
| 0.9x | 0.9x | 12.2x | 11.3x | |||
| 1.0x | 1.0x | 6.1x | - | |||
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Start Free TrialAbout System Research
| When was System Research founded? | System Research was founded in 1981. |
| Where is System Research headquartered? | System Research is headquartered in Japan. |
| How many employees does System Research have? | As of today, System Research has over 943 employees. |
| Is System Research publicly listed? | Yes, System Research is a public company listed on Tokyo Stock Exchange. |
| What is the stock symbol of System Research? | System Research trades under 3771 ticker. |
| When did System Research go public? | System Research went public in 2005. |
| Who are competitors of System Research? | System Research main competitors include Elad Software, Gofore, Info-Tech Systems, Digital Information Technologies, Digia, ISG, Columbus, Startia Holdings, Axtel, Core. |
| What is the current market cap of System Research? | System Research's current market cap is $184M. |
| What is the current revenue of System Research? | System Research's last 12 months revenue is $184M. |
| What is the current EV/Revenue multiple of System Research? | Current revenue multiple of System Research is 0.7x. |
| What is the current net income of System Research? | System Research's last 12 months net income is $17M. |
| How many companies System Research has acquired to date? | System Research hasn't acquired any companies yet (or none have been disclosed publicly). |
| In how many companies System Research has invested to date? | System Research hasn't invested in any companies yet (or none have been disclosed publicly). |
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