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AdvantestADVANTEST CORPORATION6857東証プライム電気機器FY ending Mar 2026, consolidated, IFRS

Advantest revenue and profit

Out of every ¥100 of sales, about ¥44 is left as operating profit. Revenue changed +44.7% from the prior year, operating profit +118.8%.

Five-year trend

Revenue¥1.13T
FY ending Mar 2022: ¥416.9B¥416.9BFY ending Mar 2023: ¥560.2B¥560.2BFY ending Mar 2024: ¥486.5B¥486.5BFY ending Mar 2025: ¥779.7B¥779.7BFY ending Mar 2026: ¥1.13T¥1.13TFY22FY23FY24FY25FY26
Operating income¥499.1B
FY ending Mar 2022: ¥114.7B¥114.7BFY ending Mar 2023: ¥167.7B¥167.7BFY ending Mar 2024: ¥81.6B¥81.6BFY ending Mar 2025: ¥228.2B¥228.2BFY ending Mar 2026: ¥499.1B¥499.1BFY22FY23FY24FY25FY26
Operating margin44.2%
FY ending Mar 2022: 27.5%27.5%FY ending Mar 2023: 29.9%29.9%FY ending Mar 2024: 16.8%16.8%FY ending Mar 2025: 29.3%29.3%FY ending Mar 2026: 44.2%44.2%FY22FY23FY24FY25FY26

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin33.3%
Asset turnover1.11×
ROA37.1%
ROA37.1%
Financial leverage1.56×
ROE57.6%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin33.3%
2022: 20.9%20.9%2023: 23.3%23.3%2024: 12.8%12.8%2025: 20.7%20.7%2026: 33.3%33.3%2223242526
Asset turnover1.11×
2022: 0.84×0.84×2023: 1.02×1.02×2024: 0.77×0.77×2025: 1.02×1.02×2026: 1.11×1.11×2223242526
ROA37.1%
2022: 17.6%17.6%2023: 23.8%23.8%2024: 9.8%9.8%2025: 21.1%21.1%2026: 37.1%37.1%2223242526
Financial leverage1.56×
2022: 1.68×1.68×2023: 1.65×1.65×2024: 1.59×1.59×2025: 1.63×1.63×2026: 1.56×1.56×2223242526
ROE57.6%
2022: 29.6%29.6%2023: 39.3%39.3%2024: 15.6%15.6%2025: 34.4%34.4%2026: 57.6%57.6%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202220.9%0.84×17.6%1.68×29.6%
202323.3%1.02×23.8%1.65×39.3%
202412.8%0.77×9.8%1.59×15.6%
202520.7%1.02×21.1%1.63×34.4%
202633.3%1.11×37.1%1.56×57.6%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue9.0%
2021: 13.3%13.3%2022: 12.3%12.3%2023: 11.4%11.4%2024: 16.2%16.2%2025: 10.1%10.1%2026: 9.0%9.0%212223242526
PPE ÷ total assets8.7%
2021: 9.8%9.8%2022: 10.4%10.4%2023: 10.7%10.7%2024: 11.8%11.8%2025: 9.2%9.2%2026: 8.7%8.7%212223242526
Goodwill ÷ parent equity8.3%
2021: 11.7%11.7%2022: 21.4%21.4%2023: 17.1%17.1%2024: 15.1%15.1%2025: 12.1%12.1%2026: 8.3%8.3%212223242526
Goodwill balance¥65.7B
2021: ¥32.8B¥32.8B2022: ¥63.2B¥63.2B2023: ¥63.1B¥63.1B2024: ¥65.3B¥65.3B2025: ¥61.2B¥61.2B2026: ¥65.7B¥65.7B212223242526

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Investment and working-capital efficiency

Track R&D investment and how long operating capital remains tied up before sales turn into cash.

R&D spending¥78.1B
2021: ¥42.7B¥42.7B2022: ¥48.4B¥48.4B2023: ¥60.1B¥60.1B2024: ¥65.5B¥65.5B2025: ¥71.4B¥71.4B2026: ¥78.1B¥78.1B212223242526
R&D / revenue6.9%
2021: 13.7%13.7%2022: 11.6%11.6%2023: 10.7%10.7%2024: 13.5%13.5%2025: 9.2%9.2%2026: 6.9%6.9%212223242526

R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.

Income statement (JPY millions)

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue416,901560,191486,507779,7071,128,610
Cost of revenue180,994241,130240,477334,622402,503
Gross profit235,907319,061246,030445,085726,107
SG&A121,132152,042158,963195,392229,628
Operating income114,734167,68781,628228,161499,120
Pretax income116,343171,27078,170224,774516,720
Income tax29,04240,87015,88063,597141,367
Net income attributable to owners87,301130,40062,290161,177375,353
Operating margin27.5%29.9%16.8%29.3%44.2%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

Cash 29%
Property, plant and equipment 9%
5%
Other assets 57%

Funding

Other liabilities 32%
Equity 68%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Cash and equivalents¥116.6B¥85.5B¥106.7B¥262.5B¥340B
Total assets¥494.7B¥600.2B¥671.2B¥854.2B¥1.17T
Net assets¥294.6B¥368.7B¥431.2B¥506.5B¥795.7B
Share capital¥32.4B¥32.4B¥32.4B¥32.4B¥32.4B
Property, plant and equipment¥51.4B¥64B¥78.9B¥78.6B¥101.6B
Goodwill¥63.2B¥63.1B¥65.3B¥61.2B¥65.7B
Current assets¥304.9B¥374.7B¥420.3B¥599.8B¥836.4B
Total liabilities¥200.1B¥231.5B¥240.1B¥347.7B¥376.1B
Equity attributable to owners of parent¥294.6B¥368.7B¥431.2B¥506.5B¥795.7B
Retained earnings¥279.8B¥319.2B¥355.3B¥489.9B¥655.6B
Treasury stock-¥81.5B-¥59.1B-¥56.4B-¥104.2B-¥44.4B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第84期(2025/04/01－2026/03/31)

    ID S100YKTA2026-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第83期(2024/04/01－2025/03/31)

    ID S100W4E82025-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第82期(2023/04/01－2024/03/31)

    ID S100TTJ32024-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第81期(2022/04/01－2023/03/31)

    ID S100R2182023-06-23Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第80期(令和3年4月1日－令和4年3月31日)

    ID S100OO6R2022-07-07Open

  • EDINET (FSA Japan)

    有価証券報告書－第79期(令和2年4月1日－令和3年3月31日)

    ID S100LOF72021-06-24Open

Extracted from XBRL: 43 / Derived from other figures: 1

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