AGCAGC Inc.5201東証プライムガラス・土石製品FY ending Dec 2025, consolidated, IFRS

AGC FY ending Dec 2025 results

About 28% of AGC's sales come from Chemicals, with Automotive and Glass making up much of the rest.

Out of every ¥100 of sales, about ¥6 is left as operating profit.

Revenue changed -0.4% from the prior year, operating profit +1.3%.

Revenue and profit pattern

Revenue down, profit up

Revenue -0.4% · profit +1.3%, calculated from disclosed figures.

Operating leverage: -3.05× (profit growth ÷ revenue growth)

What changed from last year

FY ending Dec 2024 → FY ending Dec 2025

Revenue: -0.4%¥2.07T → ¥2.06T
Gross profit: +0.3%¥499.1B → ¥500.4B
Operating income: +1.3%¥125.8B → ¥127.5B
Net income attributable to owners: Back to profit-¥94B → ¥69.2B
Operating cash flow: -3.6%¥284.8B → ¥274.5B
Free cash flow: +52.9%¥42.5B → ¥64.9B

Results at a glance

Revenue for the FY ending Dec 2025 was ¥2.06T, down -0.4% from ¥2.07T.
Operating income edged up +1.3% to ¥127.5B.
Net income returned to a ¥69.2B profit after a -¥94B loss, because last year's loss on selling the Russian business and the impairment in biopharma contract manufacturing did not recur.
Free cash flow rose +52.9% to ¥64.9B.

What drove the change

Automotive grew sales and profit thanks to a better product mix and pricing, and Glass also grew both
In chemicals, PVC selling prices fell
In electronic materials, shipments of EUV photomask blanks declined

Things to watch

Weaker demand in construction, auto production, semiconductors or displays could cut volumes and prices
With operations in many countries, political or economic turmoil and rule changes could disrupt the business
It makes fluorine products, and parts of Europe and some U.S. states are moving to regulate PFAS as a whole group

Annual Securities Report, 101st term (Jan–Dec 2025) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report, 101st term (Jan–Dec 2025) / 事業等のリスク

Where the money goes

FY ending Dec 2024 → FY ending Dec 2025

Where ¥100 of sales goes

For every ¥100 AGC sells, how much goes where, and how much is kept.

FY ending Dec 2025

Cost of sales: ¥76
SG&A: ¥18
Operating profit: ¥6
Net profit kept: ¥3

Annual margin trends

Gross margin24.3%

Operating margin6.2%

Net margin3.4%

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Dec 2025

Chemicals¥579.5B
28%
Op. margin 9.2%Industry: Chemicals
Automotive¥520.3B
25%
Op. margin 5.6%Industry: Auto Parts
Glass¥438.8B
21%
Op. margin 3.9%Industry: Glass & Ceramics
Electronics¥353.2B
17%
Op. margin 13.5%Industry: Semiconductor Materials
Lifescience¥129.4B
6%
Op. margin -17.2%Industry: CRO & Clinical Testing
Ceramics/Others¥37.6B
2%
Op. margin 6.9%Industry: Glass & Ceramics

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

EDINET (FSA Japan)
有価証券報告書－第101期(2025/01/01－2025/12/31)
ID S100XSTU2026-03-24Open
EDINET (FSA Japan)
有価証券報告書－第100期(2024/01/01－2024/12/31)
ID S100VI0L2025-03-28Open
EDINET (FSA Japan)
有価証券報告書－第99期(2023/01/01－2023/12/31)
ID S100T59J2024-03-28Open
EDINET (FSA Japan)
有価証券報告書－第98期(2022/01/01－2022/12/31)
ID S100QHOF2023-03-30Open
EDINET (FSA Japan)
有価証券報告書－第97期(令和3年1月1日－令和3年12月31日)
ID S100NRWR2022-03-30Open
EDINET (FSA Japan)
有価証券報告書－第96期(令和2年1月1日－令和2年12月31日)
ID S100L1UZ2021-03-30Open

Extracted from XBRL: 46 / Derived from other figures: 1

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