EucaliaEUCALIA Inc.286A東証グロースサービス業FY ending Dec 2025, consolidated, J-GAAP

Eucalia revenue and profit

Out of every ¥100 of sales, about ¥10 is left as operating profit. Revenue changed +24.7% from the prior year, operating profit +3.2%.

Five-year trend

Revenue¥24.7B
FY ending Dec 2023: ¥18.1B¥18.1BFY ending Dec 2024: ¥19.8B¥19.8BFY ending Dec 2025: ¥24.7B¥24.7BFY23FY24FY25
Operating income¥2.37B
FY ending Dec 2023: ¥1.9B¥1.9BFY ending Dec 2024: ¥2.29B¥2.29BFY ending Dec 2025: ¥2.37B¥2.37BFY23FY24FY25
Operating margin9.6%
FY ending Dec 2023: 10.5%10.5%FY ending Dec 2024: 11.6%11.6%FY ending Dec 2025: 9.6%9.6%FY23FY24FY25

What drives ROE

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

Net margin11.2%
Asset turnover0.39×
ROA4.4%
ROA4.4%
Financial leverage3.27×
ROE14.5%

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

Net margin11.2%
2023: 5.8%5.8%2024: 10.2%10.2%2025: 11.2%11.2%232425
Asset turnover0.39×
2023: 0.35×0.35×2024: 0.36×0.36×2025: 0.39×0.39×232425
ROA4.4%
2023: 2.1%2.1%2024: 3.6%3.6%2025: 4.4%4.4%232425
Financial leverage3.27×
2023: 4.73×4.73×2024: 3.88×3.88×2025: 3.27×3.27×232425
ROE14.5%
2023: 9.8%9.8%2024: 14.1%14.1%2025: 14.5%14.5%232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20235.8%0.35×2.1%4.73×9.8%
202410.2%0.36×3.6%3.88×14.1%
202511.2%0.39×4.4%3.27×14.5%

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 ÷ revenue128.3%
2023: 167.6%167.6%2024: 162.7%162.7%2025: 128.3%128.3%232425
PPE ÷ total assets48.7%
2023: 59.4%59.4%2024: 53.7%53.7%2025: 48.7%48.7%232425
Goodwill ÷ parent equity11.5%
2023: 6.3%6.3%2024: 4.7%4.7%2025: 11.5%11.5%232425
Goodwill balance¥2.35B
2023: ¥679.3M¥679.3M2024: ¥841.6M¥841.6M2025: ¥2.35B¥2.35B232425

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¥143.9M
2024: ¥190.5M¥190.5M2025: ¥143.9M¥143.9M232425
R&D / revenue0.6%
2024: 1.0%1.0%2025: 0.6%0.6%232425

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 2023FY ending Dec 2024FY ending Dec 2025
Revenue18,05519,83424,735
Cost of revenue10,94911,14214,198
Gross profit7,1068,69210,537
SG&A5,2076,3998,172
Operating income1,9002,2932,365
Pretax income1,7503,1153,091
Income tax592971211
Net income attributable to owners1,0512,0262,776
Operating margin10.5%11.6%9.6%

Balance sheet (reported items)

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

Assets

Cash 14%
Property, plant and equipment 49%
8%
2%
Other assets 27%

Funding

Interest-bearing debt 32%
Other liabilities 35%
Equity 33%

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

ItemFY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Cash and equivalents¥6.7B¥11.1B¥9.05B
Total assets¥51B¥60.1B¥65.1B
Net assets¥11.8B¥19B¥21.8B
Share capital¥100M¥2.02B¥100M
Property, plant and equipment¥30.3B¥32.3B¥31.7B
Intangible assets excluding goodwill¥1.24B¥1.36B¥2.91B
Goodwill¥679.3M¥841.6M¥2.35B
Investment securities¥460.9M¥434.2M¥1.11B
Current assets¥17.5B¥24.1B¥27.2B
Current liabilities¥8.47B¥11.8B¥12.6B
Short-term borrowings¥1.5B¥1.66B¥4.21B
Long-term borrowings¥18.4B¥14.8B¥16.5B
Bonds——¥20M
Interest-bearing debt——¥20.7Bderived
Total liabilities¥39.2B¥41.2B¥43.3B
Non-controlling interests¥944.7M¥991.3M¥1.26B
Equity attributable to owners of parent¥10.8B¥17.9B¥20.5B
Retained earnings¥7.5B¥9.53B¥12B
Treasury stock-¥938.9M-¥589.1M-¥509.5M

Sources

Show source documents (2)
  • EDINET (FSA Japan)

    有価証券報告書-第21期(2025/01/01-2025/12/31)

    ID S100XUVY2026-03-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第20期(2024/01/01-2024/12/31)

    ID S100VGY62025-03-28Open

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

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