ElementsELEMENTS, Inc.5246東証グロース情報・通信業FY ending Nov 2025, consolidated, J-GAAP
It lost about ¥6 for every ¥100 of sales at the operating level. Revenue changed +53.0% from the prior year, operating profit -471.8%.
Net margin × asset turnover = ROA; ROA × financial leverage = ROE
| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE |
|---|---|---|---|---|---|
| 2021 | — | —× | -21.8% | —× | — |
| 2022 | — | —× | -22.6% | —× | — |
| 2023 | — | —× | -11.3% | —× | — |
| 2024 | — | —× | -3.1% | —× | — |
| 2025 | — | —× | -11.5% | —× | — |
Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.
Annual trends in tangible-asset ratios and goodwill balance.
Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition
Track R&D investment and how long operating capital remains tied up before sales turn into cash.
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.
| Item | FY ending Nov 2021 | FY ending Nov 2022 | FY ending Nov 2023 | FY ending Nov 2024 | FY ending Nov 2025 |
|---|---|---|---|---|---|
| Revenue | 1,362 | 1,652 | 1,940 | 2,546 | 3,895 |
| Cost of revenue | 546 | 563 | 441 | 362 | 877 |
| Gross profit | 816 | 1,088 | 1,499 | 2,183 | 3,019 |
| SG&A | 1,522 | 1,668 | 1,797 | 2,125 | 3,234 |
| Operating income | -706 | -580 | -297 | 58 | -215 |
| Pretax income | -716 | -672 | -369 | -27 | -1,014 |
| Income tax | 2 | 2 | 4 | 56 | -168 |
| Net income attributable to owners | -569 | -562 | -339 | -133 | -701 |
| Operating margin | -51.8% | -35.1% | -15.3% | 2.3% | -5.5% |
Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.
Each bar totals 100% of assets; other is the residual.
| Item | FY ending Nov 2021 | FY ending Nov 2022 | FY ending Nov 2023 | FY ending Nov 2024 | FY ending Nov 2025 |
|---|---|---|---|---|---|
| Cash and equivalents | ¥2.3B | ¥2.06B | ¥2.74B | ¥2.75B | ¥3.28B |
| Total assets | ¥2.61B | ¥2.35B | ¥3.63B | ¥4.92B | ¥7.24B |
| Net assets | ¥1.27B | ¥684.6M | ¥1.02B | ¥2.61B | ¥3.59B |
| Share capital | ¥100M | ¥100M | ¥10.1M | ¥10M | ¥10M |
| Inventories | ¥11.2M | ¥3.3M | ¥876K | ¥3.5M | ¥87K |
| Property, plant and equipment | ¥15.7M | ¥16.7M | ¥50.1M | ¥244.9M | ¥322.4M |
| Intangible assets excluding goodwill | ¥3.7M | ¥1.7M | ¥117.5M | ¥1.25B | ¥2.2B |
| Goodwill | — | — | — | ¥304.4M | ¥1.03B |
| Investment securities | ¥13.4M | ¥12.1M | ¥203.3M | ¥176.7M | ¥163.5M |
| Current assets | ¥2.56B | ¥2.3B | ¥3.2B | ¥3.21B | ¥4.5B |
| Current liabilities | ¥844.4M | ¥875.3M | ¥876.1M | ¥707.1M | ¥1.85B |
| Short-term borrowings | ¥353.8M | ¥637.8M | ¥652.8M | ¥233.3M | ¥642.7M |
| Long-term borrowings | ¥500.6M | ¥791.5M | ¥790M | ¥1.22B | ¥1.61B |
| Total liabilities | ¥1.35B | ¥1.67B | ¥2.61B | ¥2.31B | ¥3.65B |
| Non-controlling interests | ¥272.3M | ¥260.4M | — | ¥316.1M | ¥112.9M |
| Equity attributable to owners of parent | ¥996.8M | ¥423.6M | ¥884.3M | ¥2.11B | ¥3.2B |
| Retained earnings | -¥3.56B | -¥4.12B | -¥4.46B | -¥1.08B | -¥1.78B |
EDINET (FSA Japan)
有価証券報告書－第12期(2024/12/01－2025/11/30)
EDINET (FSA Japan)
訂正有価証券報告書－第11期(2023/12/01－2024/11/30)
EDINET (FSA Japan)
有価証券報告書－第10期(2022/12/01－2023/11/30)
EDINET (FSA Japan)
有価証券報告書－第9期(2021/12/01－2022/11/30)
Extracted from XBRL: 47 / Derived from other figures: 1
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