All three tenses have at least two readings, so the archetype blend applies as printed.
Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.
What did they actually do?
Has it survived what it has been through?
2 warning events since 2024; the latest 2026-01-30.
From the record
PicoCELA Inc.'s filings since 2024 show 2 warning events: a late-report notice (Form NT 10-K or NT 10-Q, 2 times, the latest 2026-01-30) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
-7.2% a year over 4 filed years; profitable in 0 of 4.
From the record
PicoCELA Inc.'s 4 filed years say what it did: revenue went from JPY 682 million in fiscal 2022 to JPY 545 million in fiscal 2025, down 7.2% a year; it rose in 1 of 3 years; the deepest fall was 31% from fiscal 2024 to fiscal 2025; net income was positive in 0 of 4 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
SI estimate 0.9/10, confidence 35 of 100 (one part).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: PicoCELA Inc.'s shareholder treatment is put at 0.9 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 9% of 40 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.
What are they doing right now?
Is it financially healthy right now?
ROE -133%: lost 133¢ per shareholder dollar. Leverage 57%: owes 57¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-09-30, PicoCELA Inc. lost about 133 cents for every dollar of shareholders' money. Leverage: it owed about 57 cents per dollar of assets, and net share issuance: its share count grew 154.9% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
bottom 13% of 42 in its family; net margin -115%.
From the record
PicoCELA Inc.'s standing among 42 graded names in its industry family: revenue of JPY 545 million in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of -115% ranks in the bottom 8%; revenue growth of -7.2% a year over the last 3 filed years ranks in the bottom 18% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
SI estimate 5.0/10, confidence 20 of 100 (family median).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: PicoCELA Inc.'s leadership is put at 5.0 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 33 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.
What are they set up to do next?
How much room does it have to grow?
top 49% of 42 in its family for room to expand.
From the record
PicoCELA Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of JPY 535 million against debt of JPY 272 million leaves 24.1% of its assets as net cash, top 16% of its family; cash from operations less capital spending is -105.1% of revenue (bottom 6%); research spending of 4.8% of revenue (top 37%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
bottom 43% of 42 in its family for growth drivers.
From the record
PicoCELA Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -7.2% a year over the last three filed years against -7.2% over all 4, speeding up (top 46% of its family); the newest year grew -30.6% (bottom 6%); research spending grew -13.6% a year (bottom 15%); capital spending grew 99.6% a year (top 4%) (its annual reports). PicoCELA Inc. reported 4 product lines in fiscal 2025: Product at JPY 258 million (47%), Product Related Party at JPY 189 million (35%), Saa S Maintenance and Others at JPY 78 million (14%), and 1 more; 1 of 3 grew against the year before (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
bottom 13% of 42 in its family for expectations against reality.
From the record
PicoCELA Inc.'s newest year against its own record: revenue of JPY 545 million in fiscal 2025 came in 35.2% below the JPY 841 million its prior three years' pace pointed to (bottom 6% of its family); net income of JPY 626 million against a prior three-year average of JPY 373 million (bottom 25%); a net margin of a loss larger than its revenue against -58.4% before (bottom 8%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made