What does Ceres do with its cash?

Cash conversion (operating CF ÷ operating income)

71.6%

Cash vs. profit gap

-¥827M（純利益の -33.1%）

Shareholder payments — dividends

of net income 27.6% · of FCF 58.3%

CapEx intensity (capex ÷ revenue)

1.6%

Investing CF relative to operating CF

44.5%

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.