C

Cover Corp
OTC:COVCF

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Cover Corp
OTC:COVCF
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Price: 11 USD Market Closed
Market Cap: $672.4m

Gross Margin

49.6%
Current
Improving
by 1.2%
vs 3-y average of 48.5%

Gross Margin shows how much money a company keeps from each dollar of sales after paying for the products it sells. It tells how profitable the company`s core business is before other expenses.

Gross Margin
49.6%
=
Gross Profit
¥24.4B
/
Revenue
¥49.2B

Gross Margin shows how much money a company keeps from each dollar of sales after paying for the products it sells. It tells how profitable the company`s core business is before other expenses.

Gross Margin
49.6%
=
Gross Profit
$24.4B
/
Revenue
¥49.2B

Peer Comparison

Country Company Market Cap Gross
Margin
JP
Cover Corp
TSE:5253
114.6B JPY
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US
Netflix Inc
NASDAQ:NFLX
407.9B USD
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US
Walt Disney Co
NYSE:DIS
191.7B USD
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LU
Spotify Technology SA
NYSE:SPOT
105.8B USD
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US
Warner Bros Discovery Inc
NASDAQ:WBD
70B USD
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US
TKO Group Holdings Inc
NYSE:TKO
43.7B USD
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NL
Universal Music Group NV
AEX:UMG
35.3B EUR
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US
Live Nation Entertainment Inc
NYSE:LYV
38.6B USD
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CN
Tencent Music Entertainment Group
NYSE:TME
22.4B USD
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FR
Bollore SE
PAR:BOL
13.8B EUR
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US
Warner Music Group Corp
NASDAQ:WMG
14.7B USD
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Market Distribution

Higher than 78% of companies in Japan
Percentile
78th
Based on 6 625 companies
78th percentile
49.6%
Low
-179.8% — 21.8%
Typical Range
21.8% — 42.3%
High
42.3% — 18 197.9%
Distribution Statistics
Japan
Min -179.8%
30th Percentile 21.8%
Median 30.6%
70th Percentile 42.3%
Max 18 197.9%

Cover Corp
Glance View

Market Cap
672.4m USD
Industry
Media

Cover Corp, founded in 2016 by visionary entrepreneur Motoaki Tanigo, is a pioneering entertainment company known prominently for its creation of Hololive Production, a virtual YouTuber (VTuber) agency. Operating at the intersection of technology and entertainment, Cover Corp capitalizes on the rising phenomenon of virtual personas who perform, stream, and interact with fans in real-time. These VTubers, animated using sophisticated 2D and 3D visual technologies, captivate audiences worldwide through a blend of idol performance culture and interactive media. Hololive's impressive roster of over 50 characters, drawing influences from popular anime design and internet culture, has fostered a unique digital entertainment ecosystem that engages millions of viewers globally. Revenue generation for Cover Corp thrives through a multifaceted business model. Central to its financial success is the monetization of VTuber content on platforms such as YouTube, where a substantial income stream is derived from super chats—donations made by fans during live streams. Additionally, the company leverages merchandise sales, offering a variety of products from digital content, such as voice packs, to physical goods, including apparel and character figurines. Sponsorships and collaborative projects with renowned brands further solidify its revenue strategy, as the immense popularity of VTubers presents lucrative partnership opportunities. By building a community-driven model that heavily relies on fan engagement and participation, Cover Corp has successfully carved out a profitable niche in the dynamic digital entertainment landscape.

COVCF Intrinsic Value
20.7 USD
Undervaluation 47%
Intrinsic Value
Price
C
What is Gross Margin?
Gross Margin shows how much money a company keeps from each dollar of sales after paying for the products it sells. It tells how profitable the company`s core business is before other expenses.
How is Gross Margin calculated?

Gross Margin is calculated by dividing the Gross Profit by the Revenue.

Gross Margin
49.6%
=
Gross Profit
¥24.4B
/
Revenue
¥49.2B
What is Cover Corp's current Gross Margin?

The current Gross Margin for Cover Corp is 49.6%, which is above its 3-year median of 48.5%.

How has Gross Margin changed over time?

Over the last 2 years, Cover Corp’s Gross Margin has increased from 46.9% to 49.6%. During this period, it reached a low of 46.4% on Mar 31, 2024 and a high of 50.2% on Mar 31, 2025.

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