C

Cover Corp
OTC:COVCF

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Cover Corp
OTC:COVCF
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Price: 8.58 USD Market Closed
Market Cap: $524.4m

P/S

1.8
Current
48%
Cheaper
vs 3-y average of 3.5

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
1.8
=
Market Cap
$104.7B
/
Revenue
¥49.2B

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
1.8
=
Market Cap
$104.7B
/
Revenue
¥49.2B

Valuation Scenarios

Cover Corp is trading below its 3-year average

If P/S returns to its 3-Year Average (3.5), the stock would be worth $16.39 (91% upside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-40%
Maximum Upside
+91%
Average Upside
36%
Scenario P/S Value Implied Price Upside/Downside
Current Multiple 1.8 $8.58
0%
3-Year Average 3.5 $16.39
+91%
5-Year Average 3.5 $16.39
+91%
Industry Average 1.8 $8.65
+1%
Country Average 1.1 $5.14
-40%

Forward P/S
Today’s price vs future revenue

Today's Market Cap Revenue Forward P/S
$104.7B
/
Jan 2026
¥49.2B
=
1.8
Current
$104.7B
/
Mar 2026
¥52.1B
=
2
Forward
$104.7B
/
Mar 2027
¥61.2B
=
1.7
Forward
$104.7B
/
Mar 2028
¥69.7B
=
1.5
Forward

Forward P/S shows whether today’s P/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
P/S
P/E
All Countries
Close
Market Cap P/S P/E
JP
Cover Corp
OTC:COVCF
90.3B USD 1.8 15.8
US
Netflix Inc
NASDAQ:NFLX
387.9B USD 8.3 29
US
Walt Disney Co
NYSE:DIS
182.6B USD 1.9 14.9
LU
Spotify Technology SA
NYSE:SPOT
91.3B USD 4.5 35
US
Warner Bros Discovery Inc
NASDAQ:WBD
67.1B USD 1.8 92.3
NL
Universal Music Group NV
AEX:UMG
35.5B EUR 2.8 23.2
US
Live Nation Entertainment Inc
NYSE:LYV
36.1B USD 1.4 -653.8
US
TKO Group Holdings Inc
NYSE:TKO
35.6B USD 8.2 155.7
FR
Bollore SE
PAR:BOL
14.8B EUR 5 42.4
US
Roku Inc
NASDAQ:ROKU
16.7B USD 3.5 188.9
US
Warner Music Group Corp
NASDAQ:WMG
14.6B USD 2.1 48.7

Market Distribution

Lower than 100% of companies in Japan
Percentile
0th
Based on 5 249 companies
0th percentile
0
Low
0 — 0.7
Typical Range
0.7 — 1.9
High
1.9 —
Distribution Statistics
Japan
Min 0
30th Percentile 0.7
Median 1.1
70th Percentile 1.9
Max 12 107 466

Cover Corp
Glance View

Market Cap
524.4m 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 59%
Intrinsic Value
Price $8.58
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