CaulisCaulis Inc.153A東証グロースサービス業FY ending Dec 2025, non-consolidated, J-GAAP

Caulis revenue and profit

Out of every ¥100 of sales, about ¥29 is left as operating profit. Revenue changed +14.3% from the prior year, operating profit -1.1%.

Five-year trend

Revenue¥1.4B
FY ending Dec 2022: ¥769.5M¥769.5MFY ending Dec 2023: ¥995M¥995MFY ending Dec 2024: ¥1.23B¥1.23BFY ending Dec 2025: ¥1.4B¥1.4BFY22FY23FY24FY25
Operating income¥408.1M
FY ending Dec 2022: ¥217.8M¥217.8MFY ending Dec 2023: ¥295.9M¥295.9MFY ending Dec 2024: ¥412.7M¥412.7MFY ending Dec 2025: ¥408.1M¥408.1MFY22FY23FY24FY25
Operating margin29.1%
FY ending Dec 2022: 28.3%28.3%FY ending Dec 2023: 29.7%29.7%FY ending Dec 2024: 33.7%33.7%FY ending Dec 2025: 29.1%29.1%FY22FY23FY24FY25

What drives ROE

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

Net margin19.7%
Asset turnover0.67×
ROA13.1%
ROA13.1%
Financial leverage1.41×
ROE18.6%

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

Net margin19.7%
2022: 32.5%32.5%2023: 26.2%26.2%2024: 22.5%22.5%2025: 19.7%19.7%22232425
Asset turnover0.67×
2022: 1.07×1.07×2023: 1.05×1.05×2024: 0.77×0.77×2025: 0.67×0.67×22232425
ROA13.1%
2022: 34.8%34.8%2023: 27.5%27.5%2024: 17.3%17.3%2025: 13.1%13.1%22232425
Financial leverage1.41×
2022: 3.76×3.76×2023: 2.95×2.95×2024: 1.81×1.81×2025: 1.41×1.41×22232425
ROE18.6%
2022: 130.7%130.7%2023: 81.0%81.0%2024: 31.3%31.3%2025: 18.6%18.6%22232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
202232.5%1.07×34.8%3.76×130.7%
202326.2%1.05×27.5%2.95×81.0%
202422.5%0.77×17.3%1.81×31.3%
202519.7%0.67×13.1%1.41×18.6%

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 ÷ revenue0.2%
2022: 0.5%0.5%2023: 0.5%0.5%2024: 0.2%0.2%2025: 0.2%0.2%22232425
PPE ÷ total assets0.2%
2022: 0.5%0.5%2023: 0.5%0.5%2024: 0.1%0.1%2025: 0.2%0.2%22232425

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¥32M
2023: ¥40.8M¥40.8M2024: ¥34.4M¥34.4M2025: ¥32M¥32M22232425
R&D / revenue2.3%
2023: 4.1%4.1%2024: 2.8%2.8%2025: 2.3%2.3%22232425

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 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Revenue7699951,2251,401
Cost of revenue274382450583
Gross profit495613775817
SG&A278318362409
Operating income218296413408
Pretax income220294388410
Income tax-3033112133
Net income attributable to owners250260276276
Operating margin28.3%29.7%33.7%29.1%

Balance sheet (reported items)

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

Assets

Cash 68%
0%
3%
Investment securities 14%
Other assets 15%

Funding

Other liabilities 24%
Equity 76%
0%

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

ItemFY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Cash and equivalents¥604.1M¥954.7M¥1.73B¥1.49B
Total assets¥718.3M¥1.18B¥2.02B¥2.18B
Net assets¥191.3M¥451.7M¥1.32B¥1.66B
Share capital¥55M¥55M¥348.8M¥383.3M
Property, plant and equipment¥3.9M¥5.4M¥2.6M¥3.4M
Intangible assets excluding goodwill———¥60.7M
Investment securities———¥297.5M
Current assets¥672.1M¥1.03B¥1.83B¥1.6B
Current liabilities¥277M¥477M¥608.5M¥525.7M
Short-term borrowings—¥51M——
Long-term borrowings¥250M¥250M¥100M—
Total liabilities¥527M¥727M¥708.5M¥525.7M
Equity attributable to owners of parent¥191.3M¥451.7M¥1.32B¥1.66B
Retained earnings¥136.3M¥396.7M¥673M¥949.4M

Sources

Show source documents (3)
  • EDINET (FSA Japan)

    有価証券報告書-第11期(2025/01/01-2025/12/31)

    ID S100XV0K2026-03-30Open
  • EDINET (FSA Japan)

    有価証券報告書-第10期(2024/01/01-2024/12/31)

    ID S100VJCX2025-03-31Open
  • EDINET (FSA Japan)

    有価証券報告書-第9期(2023/01/01-2023/12/31)

    ID S100T6WM2024-03-29Open

Extracted from XBRL: 42 / Derived from other figures: 1

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