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AltechAltech Corporation4641東証プライムサービス業FY ending Dec 2025, consolidated, J-GAAP

Altech revenue and profit

Out of every ¥100 of sales, about ¥10 is left as operating profit. Revenue changed +5.6% from the prior year, operating profit +4.6%.

Five-year trend

Revenue¥52.6B
FY ending Dec 2021: ¥39.3B¥39.3BFY ending Dec 2022: ¥43.6B¥43.6BFY ending Dec 2023: ¥46.2B¥46.2BFY ending Dec 2024: ¥49.9B¥49.9BFY ending Dec 2025: ¥52.6B¥52.6BFY21FY22FY23FY24FY25
Operating income¥5.4B
FY ending Dec 2021: ¥3.88B¥3.88BFY ending Dec 2022: ¥4.65B¥4.65BFY ending Dec 2023: ¥4.98B¥4.98BFY ending Dec 2024: ¥5.16B¥5.16BFY ending Dec 2025: ¥5.4B¥5.4BFY21FY22FY23FY24FY25
Operating margin10.3%
FY ending Dec 2021: 9.9%9.9%FY ending Dec 2022: 10.7%10.7%FY ending Dec 2023: 10.8%10.8%FY ending Dec 2024: 10.3%10.3%FY ending Dec 2025: 10.3%10.3%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin7.6%
Asset turnover1.83×
ROA13.9%
ROA13.9%
Financial leverage1.54×
ROE21.4%

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

Net margin7.6%
2021: 7.9%7.9%2022: 7.8%7.8%2023: 8.0%8.0%2024: 7.4%7.4%2025: 7.6%7.6%2122232425
Asset turnover1.83×
2021: 1.74×1.74×2022: 1.86×1.86×2023: 1.87×1.87×2024: 1.88×1.88×2025: 1.83×1.83×2122232425
ROA13.9%
2021: 13.7%13.7%2022: 14.6%14.6%2023: 15.0%15.0%2024: 13.9%13.9%2025: 13.9%13.9%2122232425
Financial leverage1.54×
2021: 1.61×1.61×2022: 1.61×1.61×2023: 1.58×1.58×2024: 1.56×1.56×2025: 1.54×1.54×2122232425
ROE21.4%
2021: 22.1%22.1%2022: 23.4%23.4%2023: 23.7%23.7%2024: 21.6%21.6%2025: 21.4%21.4%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20217.9%1.74×13.7%1.61×22.1%
20227.8%1.86×14.6%1.61×23.4%
20238.0%1.87×15.0%1.58×23.7%
20247.4%1.88×13.9%1.56×21.6%
20257.6%1.83×13.9%1.54×21.4%

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 ÷ revenue7.4%
2020: 9.4%9.4%2021: 8.3%8.3%2022: 7.3%7.3%2023: 6.8%6.8%2024: 7.9%7.9%2025: 7.4%7.4%202122232425
PPE ÷ total assets13.2%
2020: 16.0%16.0%2021: 14.5%14.5%2022: 13.1%13.1%2023: 12.6%12.6%2024: 14.1%14.1%2025: 13.2%13.2%202122232425
Goodwill ÷ parent equity0.3%
2020: 3.3%3.3%2021: 2.3%2.3%2022: 1.6%1.6%2023: 1.0%1.0%2024: 0.5%0.5%2025: 0.3%0.3%202122232425
Goodwill balance¥64.1M
2020: ¥411.1M¥411.1M2021: ¥327.1M¥327.1M2022: ¥243.1M¥243.1M2023: ¥159.1M¥159.1M2024: ¥89.7M¥89.7M2025: ¥64.1M¥64.1M202122232425

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¥29M
2022: ¥70K¥70K2023: ¥88M¥88M2024: ¥71M¥71M2025: ¥29M¥29M202122232425
R&D / revenue0.1%
2022: 0.0%0.0%2023: 0.2%0.2%2024: 0.1%0.1%2025: 0.1%0.1%202122232425
Receivable days—
2020: 53d53d2021: 51d51d202122232425
Payable days—
2020: 2d2d2021: 4d4d2022: 5d5d2023: 4d4d2024: 4d4d202122232425

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 Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Revenue39,26243,64846,21649,85952,650
Cost of revenue30,32333,15935,26338,26440,537
Gross profit8,93910,48910,95311,59412,112
SG&A5,0635,8395,9706,4356,715
Operating income3,8764,6494,9825,1605,397
Pretax income4,5174,7335,2585,3495,613
Income tax1,4171,3281,5691,6601,616
Net income attributable to owners3,0963,4173,6963,6773,981
Operating margin9.9%10.7%10.8%10.3%10.3%

Balance sheet (reported items)

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

Assets

Cash 45%
Property, plant and equipment 13%
1%
4%
Other assets 37%

Funding

Other liabilities 30%
Equity 70%

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

ItemFY ending Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Cash and equivalents¥9.29B¥10B¥10.7B¥12.6B¥13.2B
Total assets¥22.5B¥24.3B¥25B¥28.1B¥29.3B
Net assets¥14.6B¥15.7B¥16.9B¥18.7B¥20.4B
Share capital¥2.35B¥2.35B¥2.35B¥2.35B¥2.35B
Trade receivables¥5.47B————
Property, plant and equipment¥3.27B¥3.18B¥3.16B¥3.95B¥3.88B
Intangible assets excluding goodwill¥472.6M¥384.2M¥284.1M¥205.6M¥194.5M
Goodwill¥327.1M¥243.1M¥159.1M¥89.7M¥64.1M
Investment securities¥1.14B¥1.05B¥1.02B¥952.6M¥1.23B
Current assets¥16.3B¥18.2B¥19.3B¥21.6B¥22.8B
Current liabilities¥7.44B¥8.13B¥7.84B¥8.94B¥8.47B
Trade payables¥310.2M¥459.1M¥356M¥432.6M—
Short-term borrowings¥773.7M¥274.4M¥224.3M¥210.3M¥208.6M
Long-term borrowings¥120.2M¥45.3M¥21M¥10.7M¥2.2M
Total liabilities¥7.91B¥8.53B¥8.16B¥9.33B¥8.87B
Non-controlling interests¥33.2M¥54.3M¥44.6M¥51.5M¥62.1M
Equity attributable to owners of parent¥14B¥15.1B¥16.1B¥17.9B¥19.4B
Retained earnings¥13.5B¥12B¥13.7B¥15.5B¥16B
Treasury stock-¥4.93B-¥1.99B-¥2.74B-¥2.73B-¥1.79B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第45期(2025/01/01－2025/12/31)

    ID S100XTGN2026-03-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第44期(2024/01/01－2024/12/31)

    ID S100VHAL2025-03-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第43期(2023/01/01－2023/12/31)

    ID S100T4X72024-03-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第42期(2022/01/01－2022/12/31)

    ID S100QGF02023-03-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第41期(令和3年1月1日－令和3年12月31日)

    ID S100NQ9G2022-03-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第40期(令和2年1月1日－令和2年12月31日)

    ID S100L0YP2021-03-26Open

Extracted from XBRL: 53 / Derived from other figures: 1

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