NabtescoNabtesco Corporation6268東証プライム機械FY ending Dec 2025, consolidated, IFRS

Nabtesco FY ending Dec 2025 results

About 36% of Nabtesco's sales come from Accessibility Solutions, with Transport Solutions and Component Solutions making up much of the rest.

Out of every ¥100 of sales, about ¥7 is left as operating profit.

Revenue changed +9.8% from the prior year, operating profit +59.3%.

Revenue and profit pattern

Revenue and profit upProfit grew faster

Revenue +9.8% · profit +59.3%, calculated from disclosed figures.

Operating leverage: 6.06× (profit growth ÷ revenue growth)

What changed from last year

FY ending Dec 2024 → FY ending Dec 2025

Revenue
+9.8%¥280.5B → ¥307.9B
Gross profit
+14.4%¥81.9B → ¥93.7B
Operating income
+59.3%¥13.2B → ¥21B
Net income attributable to owners
+49.7%¥10.2B → ¥15.3B
Operating cash flow
+23.2%¥26.6B → ¥32.8B
Free cash flow
Back to profit-¥1.7B → ¥16.8B

Results at a glance

  • Revenue for FY ending Dec 2025 was ¥307.9B, up +9.8% from ¥280.5B the year before.
  • Operating income climbed +60.3% from ¥12.9B to ¥20.7B, and net income attributable to owners rose +55.1% from ¥10.1B to ¥15.7B.
  • Operating cash flow grew to ¥32.8B, and free cash flow turned positive at ¥16.8B after -¥1.7B in the prior year.

What drove the change

  • Demand rose across the main businesses. Sales of precision reduction gears for robots increased as long-running excess robot inventories returned to normal levels
  • Rail and marine equipment benefited from strong demand for new vehicles and ships as well as maintenance work, and aircraft equipment grew on higher defense spending and civil aircraft demand
  • The "Project 10" profitability program lifted earnings, while a loss on restructuring a rail equipment affiliate and a goodwill impairment related to Deep Sea weighed on them

Things to watch

  • Results depend on business cycles and capital spending in autos, rail, construction and industrial machinery, and on exchange rates
  • With operations across Asia, North America and Europe, conflicts, political shifts and sudden rule changes can hit its markets
  • If acquired companies fall short of expectations, the company may have to book goodwill impairments

Annual Securities Report, 23rd fiscal year / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report, 23rd fiscal year / 事業等のリスク

Where the money goes

FY ending Dec 2024 → FY ending Dec 2025

Where ¥100 of sales goes

For every ¥100 Nabtesco sells, how much goes where, and how much is kept.

FY ending Dec 2025
Cost of sales
¥70
SG&A
¥23
Operating profit
¥7
Net profit kept
¥5

Annual margin trends

Gross margin30.4%
FY ending Dec 2020: 26.2%26.2%FY ending Dec 2021: 27.3%27.3%FY ending Dec 2022: 25.0%25.0%FY ending Dec 2023: 24.7%24.7%FY ending Dec 2024: 29.2%29.2%FY ending Dec 2025: 30.4%30.4%FY20FY21FY22FY23FY24FY25
Operating margin6.8%
FY ending Dec 2020: 10.2%10.2%FY ending Dec 2021: 9.9%9.9%FY ending Dec 2022: 6.0%6.0%FY ending Dec 2023: 5.0%5.0%FY ending Dec 2024: 4.7%4.7%FY ending Dec 2025: 6.8%6.8%FY20FY21FY22FY23FY24FY25
Net margin5.0%
FY ending Dec 2020: 7.3%7.3%FY ending Dec 2021: 21.6%21.6%FY ending Dec 2022: 3.4%3.4%FY ending Dec 2023: 4.3%4.3%FY ending Dec 2024: 3.6%3.6%FY ending Dec 2025: 5.0%5.0%FY20FY21FY22FY23FY24FY25

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Dec 2025

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (8)
  • EDINET (FSA Japan)

    訂正有価証券報告書-第23期(2025/01/01-2025/12/31)

    ID S100Z4C82026-09-30Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第22期(2024/01/01-2024/12/31)

    ID S100Z4C72026-09-30Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第21期(2023/01/01-2023/12/31)

    ID S100Z4C52026-09-30Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第20期(2022/01/01-2022/12/31)

    ID S100Z4C42026-09-30Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第19期(2021/01/01-2021/12/31)

    ID S100Z3X02026-09-30Open
  • EDINET (FSA Japan)

    有価証券報告書-第21期(2023/01/01-2023/12/31)

    ID S100T4RD2024-03-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第19期(令和3年1月1日-令和3年12月31日)

    ID S100NQHD2022-03-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第18期(令和2年1月1日-令和2年12月31日)

    ID S100L0CW2021-03-24Open

Extracted from XBRL: 45 / Derived from other figures: 1

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