What does Calbee do with its cash?

Cash conversion (operating CF ÷ operating income)

136.0%

Cash vs. profit gap

¥18.3B（純利益の 105.4%）

Shareholder returns

of net income 99.6% · of FCF 162.4%

Shareholder payments — dividends

of net income 41.9% · of FCF 68.3%

CapEx intensity (capex ÷ revenue)

7.3%

Investing CF relative to operating CF

73.6%

Nonpositive profit and free cash flow are omitted as ratio denominators. Amounts use the period's reported currency.

• Operating cash flow is the cash the core business actually brought in, including changes in receivables and inventory.
• Free cash flow = operating cash flow − capital expenditure: a gauge of cash available for other uses.
• Large "borrowing" or "cash drawdown" flows mean the company spent more than it generated that year.