CTW Cayman Class A Ordinary Shares(CTW)Earnings, Financials & Key Ratios

CTW•NASDAQ

$2.79

$33M mkt cap·5.6× P/E·Price updated May 6, 2026

SectorCommunication Services IndustryGaming & Multimedia Sub-IndustryBrowser-based free-to-play game platforms

AboutCTW Cayman operates a web-based gaming platform in Japan and Singapore. The company's flagship HTML5-based G123.jp platform offers free-to-play games which removes common barriers to gameplay, such as downloads, installations, and mandatory registrations, ensuring that seamless, instant access is available to players worldwide across different types of devices, including mobile devices beyond just PCs. It provides access to IP-related content for game development, online game distribution, game development support, game marketing and advertising services, and customer support services. In addition, the company owns art and design, and research and development centers. The company was founded in 2013 and is headquartered in Tokyo, Japan. CTW Cayman operates as a subsidiary of CTW (BVI) LTD.Show more

Revenue$68M+8.7%
EBITDA$10M+33.9%
Net Income$6M+75.9%
EPS (Diluted)0.50+78.6%
Gross Margin76.31%+4.7%
EBITDA Margin15.14%+23.2%
Operating Margin9.73%+9.6%
Net Margin8.74%+61.8%
ROE27.98%+41604.0%
ROIC35.15%+47401.8%
Debt/Equity0.31-24.6%

Technical→

CTW Key Insights

CTW Cayman Class A Ordinary Shares (CTW) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Momentum leader: RS Rating 91 (top 9%)
✓Good 3Y average ROE of 15.4%
✓Healthy 5Y average net margin of 15.1%
✓Trading at only 1.4x book value
✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

✗Profits declining 64.7% over 5 years
✗Low quality earnings: Net income not backed by cash flow
✗Sales declining 62.2% over 5 years
✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

CTW Price & Volume

CTW Cayman Class A Ordinary Shares (CTW) stock price & volume — 10-year historical chart

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CTW Growth Metrics

CTW Cayman Class A Ordinary Shares (CTW) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-36.71%

5 Years-62.24%

3 Years-79.95%

TTM-50.68%

Profit CAGR

10 Years-36.3%

5 Years-64.66%

3 Years-84.69%

TTM-52.49%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM-

Return on Capital

10 Years13.1%

5 Years13.23%

3 Years13.08%

Last Year22.81%

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Return on Equity (ROE)	Debt / Equity
GSThe Goldman Sachs Group, Inc.Product Competitor	291.19B	937.35	23.12	17%	12.59%	5.06
MSMorgan StanleySupply Chain	307.53B	193.28	24.31	16.83%	14.57%	3.42
JPMJPMorgan Chase & Co.Supply Chain	849.03B	314.90	15.94	14.61%	16.11%	2.18
BACBank of America CorporationSupply Chain	407.94B	53.60	14.03	-1.91%	10.1%	1.21
CCitigroup Inc.Supply Chain	222.93B	127.57	21.44	9.86%	6.87%	2.82
UBSUBS Group AGSupply Chain	140.31B	45.21	24.18	-20.43%	7%	3.94
BXBlackstone Inc.Often Compared	97.7B	124.69	32.14	21.58%	14.35%	0.61
KKRKKR & Co. Inc.Often Compared	89.86B	100.79	43.07	-10.99%	3.19%	0.67

Compare CTW vs Peers

CTW Cayman Class A Ordinary Shares (CTW) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs GS

Most directly comparable listed peer for CTW.

Scale Benchmark

vs JPM

Larger-name benchmark to compare CTW against a more recognizable public peer.

Peer Set

Compare Top 5

vs GS, MS, JPM, BAC

CTW Income Statement

CTW Cayman Class A Ordinary Shares (CTW) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'13	Dec'14	Dec'15	Dec'16	Dec'17	Dec'18	Dec'19	Jul'23	Jul'24
Sales/Revenue	8.75B	8.84B	8.96B	8.91B	8.55B	8.49B	8.16B	62.94M	68.42M
Revenue Growth %	-1.07%	0.97%	1.43%	-0.6%	-4.04%	-0.67%	-3.96%	-99.23%	8.71%
Cost of Goods Sold	2.79B	2.88B	2.87B	2.93B	2.88B	2.77B	2.44B	17.05M	16.21M
COGS % of Revenue	31.87%	32.58%	32.04%	32.93%	33.7%	32.58%	29.89%	27.09%	23.69%
Gross Profit	5.96B▲ 0%	5.96B▼ 0.1%	6.09B▲ 2.2%	5.98B▼ 1.9%	5.67B▼ 5.1%	5.73B▲ 1.0%	5.72B▼ 0.1%	45.89M▼ 99.2%	52.21M▲ 13.8%
Gross Margin %	68.13%	67.42%	67.96%	67.07%	66.3%	67.42%	70.11%	72.91%	76.31%
Gross Profit Growth %	-0.28%	-0.07%	2.23%	-1.9%	-5.14%	1.01%	-0.12%	-99.2%	13.77%
Operating Expenses	6.67B	6.73B	6.7B	6.59B	6.24B	5.83B	5.27B	40.31M	45.56M
OpEx % of Revenue	76.26%	76.1%	74.79%	73.94%	72.95%	68.68%	64.64%	64.04%	66.58%
Selling, General & Admin	1.06B	1.09B	1.01B	1.02B	925M	799M	659M	37.39M	44.6M
SG&A % of Revenue	12.13%	12.29%	11.32%	11.47%	10.82%	9.41%	8.08%	59.41%	65.19%
Research & Development	0	0	0	0	0	0	0	2.91M	952.44K
R&D % of Revenue	-	-	-	-	-	-	-	4.63%	1.39%
Other Operating Expenses	5.61B	5.64B	5.69B	5.57B	5.31B	5.03B	4.61B	0	0
Operating Income	2.08B▲ 0%	2.11B▲ 1.6%	2.26B▲ 7.0%	2.32B▲ 2.7%	2.31B▼ 0.4%	2.66B▲ 15.0%	2.88B▲ 8.4%	5.59M▼ 99.8%	6.66M▲ 19.1%
Operating Margin %	23.74%	23.9%	25.21%	26.06%	27.05%	31.32%	35.36%	8.88%	9.73%
Operating Income Growth %	9.08%	1.64%	7.01%	2.74%	-0.39%	15%	8.42%	-99.81%	19.11%
EBITDA	4.15B	4.08B	4.1B	4B	3.89B	4.1B	4.25B	7.74M	10.36M
EBITDA Margin %	47.46%	46.14%	45.73%	44.9%	45.54%	48.24%	52.08%	12.29%	15.14%
EBITDA Growth %	0.58%	-1.83%	0.52%	-2.39%	-2.67%	5.21%	3.69%	-99.82%	33.89%
D&A (Non-Cash Add-back)	2.08B	1.97B	1.84B	1.68B	1.58B	1.44B	1.36B	2.15M	3.7M
EBIT	2.02B	2.07B	2.21B	2.24B	2.26B	2.61B	2.85B	5.59M	6.66M
Net Interest Income	0	0	0	0	0	0	-380M	41.03K	300.99K
Interest Income	0	0	0	0	0	0	0	41.03K	300.99K
Interest Expense	450M	464M	473M	478M	465M	448M	380M	0	0
Other Income/Expense	-512M	-503M	-527M	-559M	-522M	-501M	-416M	-351.77K	1.54M
Pretax Income	1.57B▲ 0%	1.61B▲ 2.7%	1.73B▲ 7.7%	1.76B▲ 1.7%	1.79B▲ 1.6%	2.16B▲ 20.5%	2.47B▲ 14.3%	5.24M▼ 99.8%	8.2M▲ 56.5%
Pretax Margin %	17.89%	18.21%	19.33%	19.79%	20.95%	25.42%	30.26%	8.32%	11.98%
Income Tax	602M	639M	659M	678M	134M	494M	641M	1.84M	2.22M
Effective Tax Rate %	38.44%	39.71%	38.03%	38.46%	7.48%	22.88%	25.97%	35.1%	27.07%
Net Income	964M▲ 0%	970M▲ 0.6%	1.07B▲ 10.7%	1.08B▲ 1.0%	1.66B▲ 52.7%	1.67B▲ 0.5%	1.83B▲ 9.7%	3.4M▼ 99.8%	5.98M▲ 75.9%
Net Margin %	11.01%	10.98%	11.98%	12.18%	19.38%	19.6%	22.4%	5.4%	8.74%
Net Income Growth %	13.55%	0.62%	10.72%	1.02%	52.72%	0.48%	9.73%	-99.81%	75.9%
Net Income (Continuing)	964M	970M	1.07B	1.08B	1.66B	1.67B	1.83B	3.4M	5.98M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0
EPS (Diluted)	0.00▲ 0%	0.00▲ 0%	0.00▲ 0%	0.00▲ 0%	0.00▲ 0%	0.00▲ 0%	0.00▲ 0%	0.28▲ 0%	0.50▲ 78.6%
EPS Growth %	-	-	-	-	-	-	-	-	78.57%
EPS (Basic)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.28	0.50
Diluted Shares Outstanding	0	0	0	0	0	0	0	12M	12M
Basic Shares Outstanding	0	0	0	0	0	0	0	12M	12M
Dividend Payout Ratio	137.45%	144.33%	125.7%	119.82%	60.35%	76.58%	87.58%	-	-

CTW Balance Sheet

CTW Cayman Class A Ordinary Shares (CTW) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'13	Dec'14	Dec'15	Dec'16	Dec'17	Dec'18	Dec'19	Jul'23	Jul'24
Total Current Assets	1.75B	1.85B	1.6B	1.71B	1.77B	1.85B	2.49B	17.4M	18.16M
Cash & Short-Term Investments	14M	6M	3M	5M	1M	5M	2M	14.85M	14.46M
Cash Only	14M	6M	3M	5M	1M	5M	2M	14.85M	14.46M
Short-Term Investments	0	0	0	0	0	0	0	0	0
Accounts Receivable	738M	740M	688M	700M	646M	546M	514M	1.47M	2.43M
Days Sales Outstanding	30.77	30.56	28.01	28.68	27.58	23.47	23	8.54	12.99
Inventory	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-
Other Current Assets	999M	1.1B	911M	1B	1.12B	1.29B	1.97B	471.12K	459.13K
Total Non-Current Assets	14.26B	20.61B	19.87B	19.44B	19.1B	18.74B	17.84B	20.88M	25.78M
Property, Plant & Equipment	7.21B	7.2B	7.37B	7.64B	7.92B	8.08B	8.17B	5.89M	5.32M
Fixed Asset Turnover	1.21x	1.23x	1.22x	1.17x	1.08x	1.05x	1.00x	10.69x	12.86x
Goodwill	9.35B	9.35B	9.35B	9.35B	9.36B	9.36B	9.36B	0	0
Intangible Assets	1.01B	3.04B	2.44B	1.88B	1.36B	893M	311M	2.98M	3.66M
Long-Term Investments	0	0	0	0	0	0	0	531.47K	800.03K
Other Non-Current Assets	-3.47B	854M	-502M	-584M	-31M	60M	0	11.48M	16M
Total Assets	16.01B▲ 0%	22.46B▲ 40.3%	21.47B▼ 4.4%	21.15B▼ 1.5%	20.87B▼ 1.3%	20.58B▼ 1.4%	20.33B▼ 1.2%	38.28M▼ 99.8%	43.94M▲ 14.8%
Asset Turnover	0.55x	0.39x	0.42x	0.42x	0.41x	0.41x	0.40x	1.64x	1.56x
Asset Growth %	-4.21%	40.27%	-4.4%	-1.5%	-1.32%	-1.37%	-1.24%	-99.81%	14.78%
Total Current Liabilities	2.7B	2.26B	2.42B	2.8B	2.2B	2.27B	3.41B	11.86M	12.01M
Accounts Payable	440M	464M	369M	398M	317M	441M	403M	4.37M	3.32M
Days Payables Outstanding	57.56	58.83	46.9	49.51	40.16	58.17	60.33	93.65	74.78
Short-Term Debt	637M	117M	242M	514M	17M	11M	89M	2.62M	2.77M
Deferred Revenue (Current)	320M	327M	137M	131M	128M	212M	201M	0	0
Other Current Liabilities	1.3B	1.35B	1.67B	1.75B	1.73B	1.61B	2.72B	-2.44M	-2.66M
Current Ratio	0.65x	0.82x	0.66x	0.61x	0.81x	0.81x	0.73x	1.47x	1.51x
Quick Ratio	0.65x	0.82x	0.66x	0.61x	0.81x	0.81x	0.73x	1.47x	1.51x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities	9.55B	9.74B	9.09B	8.72B	8.47B	7.68B	1.1B	7.54M	8.09M
Long-Term Debt	6.92B	7.26B	7B	6.75B	7.26B	5.95B	1.1B	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	3.4M	2.43M
Deferred Tax Liabilities	2.47B	2.25B	1.9B	1.77B	1B	1.1B	0	4.15M	5.66M
Other Non-Current Liabilities	0	80M	60M	66M	82M	547M	0	0	0
Total Liabilities	13.61B	13.27B	12.56B	12.46B	11.53B	10.71B	21B	19.4M	20.1M
Total Debt	7.56B	7.38B	7.24B	7.26B	7.28B	5.96B	1.19B	7.68M	7.31M
Net Debt	7.54B	7.37B	7.24B	7.26B	7.28B	5.95B	1.19B	-7.17M	-7.15M
Debt / Equity	0.79x	0.80x	0.81x	0.84x	0.78x	0.60x	0.12x	0.41x	0.31x
Debt / EBITDA	1.82x	1.81x	1.77x	1.81x	1.87x	1.45x	0.28x	0.99x	0.71x
Net Debt / EBITDA	1.82x	1.81x	1.77x	1.81x	1.87x	1.45x	0.28x	-0.93x	-0.69x
Interest Coverage	4.62x	4.55x	4.78x	4.86x	4.97x	5.94x	7.59x	-	-
Total Equity	0▲ 0%	9.18B▲ 0%	8.91B▼ 3.0%	8.69B▼ 2.4%	9.34B▲ 7.4%	9.87B▲ 5.7%	10.12B▲ 2.5%	18.88M▼ 99.8%	23.84M▲ 26.2%
Equity Growth %	-	-	-3.01%	-2.41%	7.42%	5.69%	2.52%	-99.81%	26.25%
Book Value per Share	-	-	-	-	-	-	999999.00	1.57	1.99
Total Shareholders' Equity	9.61B	9.18B	8.91B	8.69B	9.34B	9.87B	10.12B	18.88M	23.84M
Common Stock	10.05B	10.05B	10.05B	10.05B	10.05B	10.05B	10.05B	0	0
Retained Earnings	-437M	-867M	-1.14B	-1.36B	-713M	-182M	67M	22.06M	28.04M
Treasury Stock	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	-4.03M	-5.05M
Minority Interest	0	0	0	0	0	0	0	0	0

CTW Cash Flow Statement

CTW Cayman Class A Ordinary Shares (CTW) cash flow — operating, investing & free cash flow history

Line item	Dec'13	Dec'14	Dec'15	Dec'16	Dec'17	Dec'18	Dec'19	Jul'23	Jul'24
Cash from Operations	2.71B	2.8B	2.59B	2.65B	2.44B	3.79B	3.33B	2.56M	1.59M
Operating CF Margin %	31%	31.69%	28.9%	29.76%	28.48%	44.64%	40.85%	4.07%	2.32%
Operating CF Growth %	-2.2%	3.24%	-7.5%	2.35%	-8.18%	55.69%	-12.11%	-99.92%	-37.96%
Net Income	964M	970M	1.07B	1.08B	1.66B	1.67B	1.83B	3.4M	5.98M
Depreciation & Amortization	2.08B	1.97B	1.84B	1.68B	1.58B	1.44B	1.36B	2.15M	3.7M
Stock-Based Compensation	17M	21M	21M	22M	27M	24M	0	0	0
Deferred Taxes	152M	228M	189M	123M	773M	-48M	100M	1.81M	1.73M
Other Non-Cash Items	-806M	-918M	-127M	13M	-2.27B	712M	538M	3.29M	-314.85K
Working Capital Changes	310M	534M	-405M	-270M	663M	1M	-497M	-8.09M	-9.51M
Change in Receivables	-94M	-66M	-26M	-92M	-20M	40M	-19M	26.09K	-41.26K
Change in Inventory	1.35B	1.02B	520M	907M	1.15B	318M	495M	0	0
Change in Payables	-1M	-9M	-79M	5M	-44M	69M	-50M	1.13M	-811.96K
Cash from Investing	-1.38B	-1.25B	-1.22B	-1.33B	-1.44B	-1.15B	-1.72B	-485.24K	-1.17M
Capital Expenditures	-1.26B	-1.17B	-1.25B	-1.26B	-1.33B	-1.04B	26M	-134.79K	-710.46K
CapEx % of Revenue	14.44%	13.18%	13.91%	14.13%	15.53%	12.25%	0.32%	0.21%	1.04%
Acquisitions	0	0	0	0	0	0	0	231.51K	0
Investments	-	-	-	-	-	-	-	-	-
Other Investing	-117M	-86M	27M	-75M	-108M	-113M	-1.75B	0	106.37K
Cash from Financing	-1.33B	-1.56B	-1.37B	-1.32B	-1B	-2.63B	-1.61B	0	0
Debt Issued (Net)	0	0	0	0	0	0	0	0	0
Equity Issued (Net)	0	0	0	0	0	0	0	0	0
Dividends Paid	-1.32B	-1.4B	-1.35B	-1.3B	-1B	-1.27B	-1.6B	0	0
Share Repurchases	-14M	-6M	-3M	-5M	-1M	-5M	0	0	0
Other Financing	-1M	-158M	-24M	-16M	-3M	-1.36B	-12M	0	0
Net Change in Cash	6M▲ 0%	-8M▼ 233.3%	-3M▲ 62.5%	2M▲ 166.7%	-4M▼ 300.0%	2M▲ 150.0%	-3M▼ 250.0%	1.08M▲ 135.9%	-398.59K▼ 137.1%
Free Cash Flow	1.45B▲ 0%	1.64B▲ 12.9%	1.34B▼ 17.8%	1.39B▲ 3.6%	1.11B▼ 20.5%	2.75B▲ 148.5%	3.36B▲ 22.1%	2.42M▼ 99.9%	877.19K▼ 63.8%
FCF Margin %	16.55%	18.51%	14.99%	15.63%	12.95%	32.39%	41.17%	3.85%	1.28%
FCF Growth %	-3.91%	12.91%	-17.85%	3.65%	-20.53%	148.51%	22.06%	-99.93%	-63.82%
FCF per Share	-	-	-	-	-	-	999999.00	0.20	0.07
FCF Conversion (FCF/Net Income)	2.81x	2.89x	2.41x	2.44x	1.47x	2.28x	1.82x	0.75x	0.27x
Interest Paid	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	1.92K	6.93K

CTW Key Ratios

CTW Cayman Class A Ordinary Shares (CTW) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2012	2013	2014	2015	2016	2017	2018	2019	2023	2024
Return on Equity (ROE)	8.55%	9.84%	10.32%	11.87%	12.33%	18.38%	17.34%	18.28%	0.07%	27.98%
Return on Invested Capital (ROIC)	7.98%	8.97%	9.4%	10.37%	10.85%	10.65%	12.3%	15.94%	0.07%	35.15%
Gross Margin	67.59%	68.13%	67.42%	67.96%	67.07%	66.3%	67.42%	70.11%	72.91%	76.31%
Net Margin	9.6%	11.01%	10.98%	11.98%	12.18%	19.38%	19.6%	22.4%	5.4%	8.74%
Debt / Equity	0.76x	0.79x	0.80x	0.81x	0.84x	0.78x	0.60x	0.12x	0.41x	0.31x
Interest Coverage	4.30x	4.62x	4.55x	4.78x	4.86x	4.97x	5.94x	7.59x	-	-
FCF Conversion	3.27x	2.81x	2.89x	2.41x	2.44x	1.47x	2.28x	1.82x	0.75x	0.27x
Revenue Growth	33.35%	-1.07%	0.97%	1.43%	-0.6%	-4.04%	-0.67%	-3.96%	-99.23%	8.71%

CTW Frequently Asked Questions

CTW Cayman Class A Ordinary Shares (CTW) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

CTW Cayman Class A Ordinary Shares (CTW) reported $4.13B in revenue for fiscal year 2024. This represents a 59% decrease from $10.05B in 2005.

CTW Cayman Class A Ordinary Shares (CTW) grew revenue by 8.7% over the past year. This is steady growth.

Yes, CTW Cayman Class A Ordinary Shares (CTW) is profitable, generating $865.6M in net income for fiscal year 2024 (8.7% net margin).

Dividend & Returns

CTW Cayman Class A Ordinary Shares (CTW) has a return on equity (ROE) of 28.0%. This is excellent, indicating efficient use of shareholder capital.

CTW Cayman Class A Ordinary Shares (CTW) generated $1.57B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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CTW Cayman Class A Ordinary Shares (CTW) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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