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Alfresa HoldingsAlfresa Holdings Corporation2784東証プライム卸売業FY ending Mar 2026, consolidated, J-GAAP

Alfresa Holdings revenue and profit

Out of every ¥100 of sales, about ¥1 is left as operating profit. Revenue changed +4.8% from the prior year, operating profit -5.0%.

Five-year trend

Revenue¥3.1T
FY ending Mar 2022: ¥2.59T¥2.59TFY ending Mar 2023: ¥2.7T¥2.7TFY ending Mar 2024: ¥2.86T¥2.86TFY ending Mar 2025: ¥2.96T¥2.96TFY ending Mar 2026: ¥3.1T¥3.1TFY22FY23FY24FY25FY26
Operating income¥36.2B
FY ending Mar 2022: ¥29.1B¥29.1BFY ending Mar 2023: ¥30.1B¥30.1BFY ending Mar 2024: ¥38.5B¥38.5BFY ending Mar 2025: ¥38.1B¥38.1BFY ending Mar 2026: ¥36.2B¥36.2BFY22FY23FY24FY25FY26
Operating margin1.2%
FY ending Mar 2022: 1.1%1.1%FY ending Mar 2023: 1.1%1.1%FY ending Mar 2024: 1.3%1.3%FY ending Mar 2025: 1.3%1.3%FY ending Mar 2026: 1.2%1.2%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin1.3%
Asset turnover2.11×
ROA2.8%
ROA2.8%
Financial leverage3.33×
ROE9.4%

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

Net margin1.3%
2022: 1.2%1.2%2023: 1.0%1.0%2024: 1.0%1.0%2025: 0.9%0.9%2026: 1.3%1.3%2223242526
Asset turnover2.11×
2022: 1.98×1.98×2023: 2.04×2.04×2024: 2.05×2.05×2025: 2.05×2.05×2026: 2.11×2.11×2223242526
ROA2.8%
2022: 2.5%2.5%2023: 2.0%2.0%2024: 2.1%2.1%2025: 1.9%1.9%2026: 2.8%2.8%2223242526
Financial leverage3.33×
2022: 3.05×3.05×2023: 3.04×3.04×2024: 3.22×3.22×2025: 3.39×3.39×2026: 3.33×3.33×2223242526
ROE9.4%
2022: 7.5%7.5%2023: 5.9%5.9%2024: 6.8%6.8%2025: 6.4%6.4%2026: 9.4%9.4%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20221.2%1.98×2.5%3.05×7.5%
20231.0%2.04×2.0%3.04×5.9%
20241.0%2.05×2.1%3.22×6.8%
20250.9%2.05×1.9%3.39×6.4%
20261.3%2.11×2.8%3.33×9.4%

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 ÷ revenue6.5%
2021: 6.1%6.1%2022: 6.3%6.3%2023: 6.6%6.6%2024: 6.4%6.4%2025: 6.5%6.5%2026: 6.5%6.5%212223242526
PPE ÷ total assets13.4%
2021: 12.1%12.1%2022: 12.5%12.5%2023: 13.2%13.2%2024: 12.5%12.5%2025: 13.4%13.4%2026: 13.4%13.4%212223242526
Goodwill ÷ parent equity0.2%
2021: 0.8%0.8%2022: 0.7%0.7%2023: 0.6%0.6%2024: 0.5%0.5%2025: 0.3%0.3%2026: 0.2%0.2%212223242526
Goodwill balance¥1B
2021: ¥3.48B¥3.48B2022: ¥2.91B¥2.91B2023: ¥2.54B¥2.54B2024: ¥2.06B¥2.06B2025: ¥1.4B¥1.4B2026: ¥1B¥1B212223242526

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¥2.33B
2021: ¥1.44B¥1.44B2022: ¥1.37B¥1.37B2023: ¥2.09B¥2.09B2024: ¥2.2B¥2.2B2025: ¥1.9B¥1.9B2026: ¥2.33B¥2.33B212223242526
R&D / revenue0.1%
2021: 0.1%0.1%2022: 0.1%0.1%2023: 0.1%0.1%2024: 0.1%0.1%2025: 0.1%0.1%2026: 0.1%0.1%212223242526
Receivable days—
2021: 83d83d212223242526
Payable days112d
2021: 113d113d2022: 115d115d2023: 114d114d2024: 118d118d2025: 111d111d2026: 112d112d212223242526

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
Revenue2,585,6432,696,0692,858,5002,961,0513,104,064
Cost of revenue2,398,1742,503,9832,652,1282,747,1232,886,183
Gross profit187,468192,085206,371213,927217,880
SG&A158,377161,937167,910175,846181,716
Operating income29,09130,14838,46038,08036,164
Pretax income48,18038,59143,79539,35962,007
Income tax15,97712,80214,22111,92320,175
Net income attributable to owners32,18225,78629,55827,38941,746
Operating margin1.1%1.1%1.3%1.3%1.2%

Balance sheet (reported items)

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

Assets

Cash 13%
Property, plant and equipment 13%
1%
7%
Other assets 66%

Funding

Trade payables 58%
8%
Equity 34%

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¥179.1B¥158.8B¥212.3B¥174.8B¥190.7B
Total assets¥1.3T¥1.34T¥1.45T¥1.44T¥1.51T
Net assets¥471.8B¥488.3B¥479.9B¥482.2B¥507.9B
Share capital¥18.5B¥18.5B¥18.5B¥18.5B¥18.5B
Property, plant and equipment¥162.8B¥176.8B¥181.6B¥192.4B¥201.6B
Intangible assets excluding goodwill¥18.8B¥17.9B¥16.6B¥11.5B¥13.1B
Goodwill¥2.91B¥2.54B¥2.06B¥1.4B¥1B
Investment securities¥87.3B¥91.6B¥105.6B¥115.3B¥106.4B
Current assets¥1.02T¥1.03T¥1.12T¥1.09T¥1.16T
Current liabilities¥802.8B¥825.7B¥907B¥895B¥938.5B
Trade payables¥755.3B¥780.3B¥855.3B¥834.9B¥882B
Short-term borrowings¥48M————
Long-term borrowings——¥10B¥10B¥10B
Bonds——¥20B¥20B¥20B
Total liabilities¥832.2B¥851.5B¥967.8B¥957.6B¥999.1B
Non-controlling interests¥241M¥244M¥259M¥459M¥545M
Equity attributable to owners of parent¥427.5B¥442.1B¥424.3B¥428.5B¥456.6B
Retained earnings¥352B¥366.6B¥384.5B¥399.6B¥428B
Treasury stock-¥44.6B-¥686M-¥36.4B-¥21.4B-¥21.6B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第23期(2025/04/01－2026/03/31)

    ID S100YH292026-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第22期(2024/04/01－2025/03/31)

    ID S100W3KK2025-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第21期(2023/04/01－2024/03/31)

    ID S100TRUQ2024-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第20期(2022/04/01－2023/03/31)

    ID S100R4382023-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第19期(令和3年4月1日－令和4年3月31日)

    ID S100OHEM2022-06-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第18期(令和2年4月1日－令和3年3月31日)

    ID S100LQUD2021-06-25Open

Extracted from XBRL: 54 / Derived from other figures: 1

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