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C.S. LumberC.S. LUMBER CO., INC7808東証スタンダードその他製品FY ending May 2026, consolidated, J-GAAP

C.S. Lumber revenue and profit

Out of every ¥100 of sales, about ¥6 is left as operating profit. Revenue changed -1.4% from the prior year, operating profit -36.1%.

Five-year trend

Revenue¥20.4B
FY ending May 2022: ¥25.1B¥25.1BFY ending May 2023: ¥24.5B¥24.5BFY ending May 2024: ¥21.1B¥21.1BFY ending May 2025: ¥20.7B¥20.7BFY ending May 2026: ¥20.4B¥20.4BFY22FY23FY24FY25FY26
Operating income¥1.13B
FY ending May 2022: ¥4.06B¥4.06BFY ending May 2023: ¥3.25B¥3.25BFY ending May 2024: ¥2.17B¥2.17BFY ending May 2025: ¥1.77B¥1.77BFY ending May 2026: ¥1.13B¥1.13BFY22FY23FY24FY25FY26
Operating margin5.6%
FY ending May 2022: 16.2%16.2%FY ending May 2023: 13.2%13.2%FY ending May 2024: 10.3%10.3%FY ending May 2025: 8.6%8.6%FY ending May 2026: 5.6%5.6%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin3.4%
Asset turnover0.71×
ROA2.4%
ROA2.4%
Financial leverage2.50×
ROE6.1%

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

Net margin3.4%
2022: 11.0%11.0%2023: 9.1%9.1%2024: 6.8%6.8%2025: 5.6%5.6%2026: 3.4%3.4%2223242526
Asset turnover0.71×
2022: 1.19×1.19×2023: 1.13×1.13×2024: 0.92×0.92×2025: 0.82×0.82×2026: 0.71×0.71×2223242526
ROA2.4%
2022: 13.2%13.2%2023: 10.3%10.3%2024: 6.3%6.3%2025: 4.6%4.6%2026: 2.4%2.4%2223242526
Financial leverage2.50×
2022: 3.10×3.10×2023: 2.77×2.77×2024: 2.41×2.41×2025: 2.36×2.36×2026: 2.50×2.50×2223242526
ROE6.1%
2022: 40.8%40.8%2023: 28.5%28.5%2024: 15.1%15.1%2025: 10.9%10.9%2026: 6.1%6.1%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202211.0%1.19×13.2%3.10×40.8%
20239.1%1.13×10.3%2.77×28.5%
20246.8%0.92×6.3%2.41×15.1%
20255.6%0.82×4.6%2.36×10.9%
20263.4%0.71×2.4%2.50×6.1%

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 ÷ revenue98.1%
2021: 54.2%54.2%2022: 36.9%36.9%2023: 45.3%45.3%2024: 61.4%61.4%2025: 79.5%79.5%2026: 98.1%98.1%212223242526
PPE ÷ total assets66.0%
2021: 54.8%54.8%2022: 44.1%44.1%2023: 49.8%49.8%2024: 55.1%55.1%2025: 61.0%61.0%2026: 66.0%66.0%212223242526
Goodwill ÷ parent equity0.8%
2021: 1.2%1.2%2022: 0.6%0.6%2023: 0.4%0.4%2024: 0.3%0.3%2025: 0.2%0.2%2026: 0.8%0.8%212223242526
Goodwill balance¥98.4M
2021: ¥48M¥48M2022: ¥41.2M¥41.2M2023: ¥34.3M¥34.3M2024: ¥27.4M¥27.4M2025: ¥20.6M¥20.6M2026: ¥98.4M¥98.4M212223242526

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.

Receivable days—
2021: 63d63d212223242526
Payable days44d
2021: 63d63d2022: 44d44d2023: 33d33d2024: 35d35d2025: 43d43d2026: 44d44d212223242526

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 May 2022FY ending May 2023FY ending May 2024FY ending May 2025FY ending May 2026
Revenue25,12624,54721,13320,67320,382
Cost of revenue18,66918,74116,43216,34016,568
Gross profit6,4585,8074,7014,3333,814
SG&A2,3952,5582,5272,5592,679
Operating income4,0633,2492,1741,7751,134
Pretax income3,9703,1832,0821,685975
Income tax1,203947647527282
Net income attributable to owners2,7672,2361,4361,158693
Operating margin16.2%13.2%10.3%8.6%5.6%

Balance sheet (reported items)

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

Assets

8%
Property, plant and equipment 66%
1%
2%
Other assets 23%

Funding

7%
Interest-bearing debt 37%
Other liabilities 17%
Equity 39%
0%

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

ItemFY ending May 2022FY ending May 2023FY ending May 2024FY ending May 2025FY ending May 2026
Cash and equivalents¥4.89B¥5.39B¥5.12B¥3.31B¥2.48B
Total assets¥21B¥22.4B¥23.5B¥26.9B¥30.3B
Net assets¥6.89B¥8.99B¥10.3B¥11.3B¥11.9B
Share capital¥532.6M¥536.2M¥536.2M¥536.2M¥536.2M
Property, plant and equipment¥9.28B¥11.1B¥13B¥16.4B¥20B
Intangible assets excluding goodwill¥110.7M¥123.2M¥101.3M¥197.7M¥242.3M
Goodwill¥41.2M¥34.3M¥27.4M¥20.6M¥98.4M
Investment securities¥197.8M¥209.1M¥307.3M¥311.7M¥402.6M
Current assets¥11.2B¥10.6B¥9.78B¥9.57B¥9.23B
Current liabilities¥8.25B¥6.3B¥8.09B¥7.94B¥7.99B
Trade payables¥2.27B¥1.7B¥1.57B¥1.93B¥2.01B
Short-term borrowings¥600.9M¥430M¥2.82B¥2.2B¥1.91B
Long-term borrowings¥4.95B¥5.93B¥3.98B¥6.62B¥9.2B
Bonds¥250M¥500M¥580M¥350M¥170M
Interest-bearing debt¥5.8Bderived¥6.86Bderived¥7.38Bderived¥9.17Bderived¥11.3Bderived
Total liabilities¥14.1B¥13.4B¥13.2B¥15.6B¥18.4B
Equity attributable to owners of parent¥6.78B¥8.88B¥10.2B¥11.2B¥11.7B
Retained earnings¥5.93B¥8.02B¥9.31B¥10.3B¥10.9B
Treasury stock-¥489K-¥645K-¥937K-¥937K-¥937K

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第44期(2025/06/01－2026/05/31)

    ID S100YYY42026-08-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第43期(2024/06/01－2025/05/31)

    ID S100WLYT2025-08-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第42期(2023/06/01－2024/05/31)

    ID S100UAV42024-08-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第41期(2022/06/01－2023/05/31)

    ID S100RSAT2023-08-31Open

  • EDINET (FSA Japan)

    有価証券報告書－第40期(令和3年6月1日－令和4年5月31日)

    ID S100P3WQ2022-08-31Open

  • EDINET (FSA Japan)

    有価証券報告書－第39期(令和2年6月1日－令和3年5月31日)

    ID S100MCPL2021-08-31Open

Extracted from XBRL: 51 / Derived from other figures: 2

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