What does H2O Retailing do with its cash?

Cash conversion (operating CF ÷ operating income)

149.2%

Cash vs. profit gap

¥18.4B（純利益の 61.4%）

Shareholder returns

of net income 67.7% · of FCF 89.3%

Shareholder payments — dividends

of net income 17.6% · of FCF 23.2%

CapEx intensity (capex ÷ revenue)

3.8%

Investing CF relative to operating CF

9.8%

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.