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NintendoNintendo Co., Ltd.7974東証プライムその他製品FY ending Mar 2026, consolidated, J-GAAP

Nintendo revenue and profit

Out of every ¥100 of sales, about ¥15 is left as operating profit. Revenue changed +98.6% from the prior year, operating profit +27.5%.

Five-year trend

Revenue¥2.31T
FY ending Mar 2022: ¥1.7T¥1.7TFY ending Mar 2023: ¥1.6T¥1.6TFY ending Mar 2024: ¥1.67T¥1.67TFY ending Mar 2025: ¥1.16T¥1.16TFY ending Mar 2026: ¥2.31T¥2.31TFY22FY23FY24FY25FY26
Operating income¥360.1B
FY ending Mar 2022: ¥592.8B¥592.8BFY ending Mar 2023: ¥504.4B¥504.4BFY ending Mar 2024: ¥528.9B¥528.9BFY ending Mar 2025: ¥282.6B¥282.6BFY ending Mar 2026: ¥360.1B¥360.1BFY22FY23FY24FY25FY26
Operating margin15.6%
FY ending Mar 2022: 35.0%35.0%FY ending Mar 2023: 31.5%31.5%FY ending Mar 2024: 31.6%31.6%FY ending Mar 2025: 24.3%24.3%FY ending Mar 2026: 15.6%15.6%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin18.3%
Asset turnover0.64×
ROA11.8%
ROA11.8%
Financial leverage1.40×
ROE16.5%

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

Net margin18.3%
2022: 28.2%28.2%2023: 27.0%27.0%2024: 29.3%29.3%2025: 23.9%23.9%2026: 18.3%18.3%2223242526
Asset turnover0.64×
2022: 0.64×0.64×2023: 0.58×0.58×2024: 0.56×0.56×2025: 0.36×0.36×2026: 0.64×0.64×2223242526
ROA11.8%
2022: 17.9%17.9%2023: 15.7%15.7%2024: 16.3%16.3%2025: 8.5%8.5%2026: 11.8%11.8%2223242526
Financial leverage1.40×
2022: 1.33×1.33×2023: 1.33×1.33×2024: 1.32×1.32×2025: 1.34×1.34×2026: 1.40×1.40×2223242526
ROE16.5%
2022: 23.8%23.8%2023: 20.9%20.9%2024: 21.6%21.6%2025: 11.4%11.4%2026: 16.5%16.5%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202228.2%0.64×17.9%1.33×23.8%
202327.0%0.58×15.7%1.33×20.9%
202429.3%0.56×16.3%1.32×21.6%
202523.9%0.36×8.5%1.34×11.4%
202618.3%0.64×11.8%1.40×16.5%

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 ÷ revenue5.5%
2021: 4.8%4.8%2022: 5.0%5.0%2023: 6.2%6.2%2024: 6.5%6.5%2025: 9.7%9.7%2026: 5.5%5.5%212223242526
PPE ÷ total assets3.3%
2021: 3.4%3.4%2022: 3.2%3.2%2023: 3.5%3.5%2024: 3.4%3.4%2025: 3.3%3.3%2026: 3.3%3.3%212223242526

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¥177.9B
2021: ¥93.3B¥93.3B2022: ¥102.2B¥102.2B2023: ¥110B¥110B2024: ¥137.7B¥137.7B2025: ¥143.8B¥143.8B2026: ¥177.9B¥177.9B212223242526
R&D / revenue7.7%
2021: 5.3%5.3%2022: 6.0%6.0%2023: 6.9%6.9%2024: 8.2%8.2%2025: 12.3%12.3%2026: 7.7%7.7%212223242526
Cash conversion cycle102d
2021: 16d16d2022: 56d56d2023: 83d83d2024: 70d70d2025: 249d249d2026: 102d102d212223242526
Receivable days23d
2021: 29d29d2022: 30d30d2023: 27d27d2024: 20d20d2025: 20d20d2026: 23d23d212223242526
Inventory days140d
2021: 40d40d2022: 99d99d2023: 132d132d2024: 79d79d2025: 390d390d2026: 140d140d212223242526
Payable days61d
2021: 53d53d2022: 74d74d2023: 76d76d2024: 30d30d2025: 161d161d2026: 61d61d212223242526

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 Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue1,695,3441,601,6771,671,8651,164,9222,313,051
Cost of revenue749,299716,237717,530454,7541,404,094
Gross profit946,044885,440954,335710,168908,956
SG&A353,283381,065425,393427,614548,839
Operating income592,760504,375528,941282,553360,117
Pretax income674,389600,757680,722372,331568,194
Income tax196,674167,957190,08093,478144,101
Net income attributable to owners477,691432,768490,602278,806424,056
Operating margin35.0%31.5%31.6%24.3%15.6%

Balance sheet (reported items)

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

Assets

Cash 35%
4%
Inventories 14%
3%
1%
Investment securities 11%
Other assets 32%

Funding

6%
Other liabilities 16%
Equity 78%

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

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Cash and equivalents¥1.02T¥1.19T¥853.4B¥1.41T¥1.32T
Total assets¥2.66T¥2.85T¥3.15T¥3.4T¥3.81T
Net assets¥2.07T¥2.27T¥2.6T¥2.73T¥2.96T
Share capital¥10.1B¥10.1B¥10.1B¥10.1B¥10.1B
Trade receivables¥141.1B¥119.9B¥93.6B¥65.2B¥147.5B
Inventories¥204.2B¥258.6B¥156B¥486.4B¥539.8B
Property, plant and equipment¥85.2B¥99.5B¥108.5B¥112.6B¥127.5B
Intangible assets excluding goodwill¥17.3B¥18.6B¥16.4B¥23.4B¥44.6B
Investment securities¥312.7B¥276.3B¥290.6B¥369.4B¥420.9B
Current assets¥2.13T¥2.31T¥2.57T¥2.75T¥3.01T
Current liabilities¥540.7B¥533.5B¥479.3B¥597.6B¥760.1B
Trade payables¥150.9B¥149.2B¥58.1B¥201.1B¥236.1B
Total liabilities¥593.1B¥587.8B¥546.4B¥673.1B¥850.1B
Non-controlling interests¥266M¥232M¥1.24B¥1.12B¥1.16B
Equity attributable to owners of parent¥2T¥2.15T¥2.4T¥2.49T¥2.66T
Retained earnings¥2.2T¥2.39T¥2.65T¥2.73T¥2.98T
Treasury stock-¥220.3B-¥271B-¥271B-¥271B-¥341.9B

Sources

Show source documents (10)

  • EDINET (FSA Japan)

    有価証券報告書－第86期(2025/04/01－2026/03/31)

    ID S100Y9NX2026-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第85期(2024/04/01－2025/03/31)

    ID S100W73A2025-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第84期(2023/04/01－2024/03/31)

    ID S100TMMG2024-06-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第83期(2022/04/01－2023/03/31)

    ID S100QY8A2023-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第82期(令和3年4月1日－令和4年3月31日)

    ID S100O9PP2022-06-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第81期(令和2年4月1日－令和3年3月31日)

    ID S100LK4Y2021-06-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第80期(平成31年4月1日－令和2年3月31日)

    ID S100ITKB2020-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第79期(平成30年4月1日－平成31年3月31日)

    ID S100G23Z2019-06-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第78期(平成29年4月1日－平成30年3月31日)

    ID S100D6WC2018-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第77期(2016/04/01－2017/03/31)

    ID S100APYF2017-06-30Open

Extracted from XBRL: 53 / Derived from other figures: 1

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