Fast RetailingFAST RETAILING CO., LTD.9983東証プライム小売業FY ending Aug 2025, consolidated, IFRS

Fast Retailing revenue and profit

Out of every ¥100 of sales, about ¥17 is left as operating profit. Revenue changed +9.6% from the prior year, operating profit +12.6%.

Five-year trend

Revenue¥3.4T
FY ending Aug 2021: ¥2.13T¥2.13TFY ending Aug 2022: ¥2.3T¥2.3TFY ending Aug 2023: ¥2.77T¥2.77TFY ending Aug 2024: ¥3.1T¥3.1TFY ending Aug 2025: ¥3.4T¥3.4TFY21FY22FY23FY24FY25
Operating income¥564.3B
FY ending Aug 2021: ¥249B¥249BFY ending Aug 2022: ¥297.3B¥297.3BFY ending Aug 2023: ¥381.1B¥381.1BFY ending Aug 2024: ¥500.9B¥500.9BFY ending Aug 2025: ¥564.3B¥564.3BFY21FY22FY23FY24FY25
Operating margin16.6%
FY ending Aug 2021: 11.7%11.7%FY ending Aug 2022: 12.9%12.9%FY ending Aug 2023: 13.8%13.8%FY ending Aug 2024: 16.1%16.1%FY ending Aug 2025: 16.6%16.6%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin12.7%
Asset turnover0.91×
ROA11.6%
ROA11.6%
Financial leverage1.74×
ROE20.2%

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

Net margin12.7%
2021: 8.0%8.0%2022: 11.9%11.9%2023: 10.7%10.7%2024: 12.0%12.0%2025: 12.7%12.7%2122232425
Asset turnover0.91×
2021: 0.85×0.85×2022: 0.81×0.81×2023: 0.85×0.85×2024: 0.90×0.90×2025: 0.91×0.91×2122232425
ROA11.6%
2021: 6.8%6.8%2022: 9.6%9.6%2023: 9.1%9.1%2024: 10.8%10.8%2025: 11.6%11.6%2122232425
Financial leverage1.74×
2021: 2.25×2.25×2022: 2.13×2.13×2023: 1.92×1.92×2024: 1.80×1.80×2025: 1.74×1.74×2122232425
ROE20.2%
2021: 15.2%15.2%2022: 20.4%20.4%2023: 17.5%17.5%2024: 19.4%19.4%2025: 20.2%20.2%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20218.0%0.85×6.8%2.25×15.2%
202211.9%0.81×9.6%2.13×20.4%
202310.7%0.85×9.1%1.92×17.5%
202412.0%0.90×10.8%1.80×19.4%
202512.7%0.91×11.6%1.74×20.2%

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 ÷ revenue9.8%
2020: 6.8%6.8%2021: 7.9%7.9%2022: 8.5%8.5%2023: 8.0%8.0%2024: 7.9%7.9%2025: 9.8%9.8%202122232425
PPE ÷ total assets8.6%
2020: 5.6%5.6%2021: 6.7%6.7%2022: 6.1%6.1%2023: 6.7%6.7%2024: 6.8%6.8%2025: 8.6%8.6%202122232425
Goodwill ÷ parent equity0.4%
2020: 0.8%0.8%2021: 0.7%0.7%2022: 0.5%0.5%2023: 0.4%0.4%2024: 0.4%0.4%2025: 0.4%0.4%202122232425
Goodwill balance¥8.09B
2020: ¥8.09B¥8.09B2021: ¥8.09B¥8.09B2022: ¥8.09B¥8.09B2023: ¥8.09B¥8.09B2024: ¥8.09B¥8.09B2025: ¥8.09B¥8.09B202122232425

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Income statement (JPY millions)

ItemFY ending Aug 2021FY ending Aug 2022FY ending Aug 2023FY ending Aug 2024FY ending Aug 2025
Revenue2,132,9922,301,1222,766,5573,103,8363,400,539
Cost of revenue1,059,0361,094,2631,330,1961,430,7641,571,681
Gross profit1,073,9551,206,8591,436,3601,673,0711,828,858
SG&A818,427900,1541,054,3681,187,7131,277,701
Operating income249,011297,325381,090500,904564,265
Pretax income265,872413,584437,918557,201650,574
Income tax90,188128,834122,746163,596191,421
Net income attributable to owners169,847273,335296,229371,999433,009
Operating margin11.7%12.9%13.8%16.1%16.6%

Balance sheet (reported items)

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

Assets

Cash 23%
Property, plant and equipment 9%
0%
Other assets 68%

Funding

Other liabilities 40%
Equity 60%

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

ItemFY ending Aug 2021FY ending Aug 2022FY ending Aug 2023FY ending Aug 2024FY ending Aug 2025
Cash and equivalents¥1.18T¥1.36T¥903.3B¥1.19T¥893.2B
Total assets¥2.51T¥3.18T¥3.3T¥3.59T¥3.86T
Net assets¥1.16T¥1.62T¥1.87T¥2.07T¥2.33T
Share capital¥10.3B¥10.3B¥10.3B¥10.3B¥10.3B
Property, plant and equipment¥168.2B¥195.2B¥221.9B¥245.7B¥332.4B
Goodwill¥8.09B¥8.09B¥8.09B¥8.09B¥8.09B
Current assets¥1.72T¥2.18T¥2.18T¥2.36T¥2.53T
Total liabilities¥1.35T¥1.57T¥1.43T¥1.52T¥1.53T
Equity attributable to owners of parent¥1.12T¥1.56T¥1.82T¥2.02T¥2.27T
Retained earnings¥1.05T¥1.28T¥1.5T¥1.77T¥2.06T
Treasury stock-¥15B-¥14.8B-¥14.7B-¥14.6B-¥14.5B

Sources

Show source documents (6)
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    有価証券報告書-第64期(2024/09/01-2025/08/31)

    ID S100X6X62025-11-28Open
  • EDINET (FSA Japan)

    有価証券報告書-第63期(2023/09/01-2024/08/31)

    ID S100UV0T2024-11-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第62期(2022/09/01-2023/08/31)

    ID S100SD9V2023-11-30Open
  • EDINET (FSA Japan)

    有価証券報告書-第61期(令和3年9月1日-令和4年8月31日)

    ID S100POPP2022-11-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第60期(令和2年9月1日-令和3年8月31日)

    ID S100MXXW2021-11-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第59期(令和1年9月1日-令和2年8月31日)

    ID S100K9IP2020-11-27Open

Extracted from XBRL: 43 / Derived from other figures: 1

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