NTTNTT, Inc.9432東証プライム情報・通信業FY ending Mar 2026, consolidated, IFRS

NTT revenue and profit

Out of every ¥100 of sales, about ¥12 is left as operating profit. Revenue changed +5.1% from the prior year, operating profit +3.4%.

Five-year trend

Revenue¥14.4T
FY ending Mar 2022: ¥12.2T¥12.2TFY ending Mar 2023: ¥13.1T¥13.1TFY ending Mar 2024: ¥13.4T¥13.4TFY ending Mar 2025: ¥13.7T¥13.7TFY ending Mar 2026: ¥14.4T¥14.4TFY22FY23FY24FY25FY26
Operating income¥1.71T
FY ending Mar 2022: ¥1.77T¥1.77TFY ending Mar 2023: ¥1.83T¥1.83TFY ending Mar 2024: ¥1.92T¥1.92TFY ending Mar 2025: ¥1.65T¥1.65TFY ending Mar 2026: ¥1.71T¥1.71TFY22FY23FY24FY25FY26
Operating margin11.8%
FY ending Mar 2022: 14.5%14.5%FY ending Mar 2023: 13.9%13.9%FY ending Mar 2024: 14.4%14.4%FY ending Mar 2025: 12.0%12.0%FY ending Mar 2026: 11.8%11.8%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin7.2%
Asset turnover0.38×
ROA2.7%
ROA2.7%
Financial leverage3.85×
ROE10.4%

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

Net margin7.2%
2022: 9.7%9.7%2023: 9.2%9.2%2024: 9.6%9.6%2025: 7.3%7.3%2026: 7.2%7.2%2223242526
Asset turnover0.38×
2022: 0.51×0.51×2023: 0.53×0.53×2024: 0.49×0.49×2025: 0.46×0.46×2026: 0.38×0.38×2223242526
ROA2.7%
2022: 4.9%4.9%2023: 4.9%4.9%2024: 4.7%4.7%2025: 3.4%3.4%2026: 2.7%2.7%2223242526
Financial leverage3.85×
2022: 2.88×2.88×2023: 2.92×2.92×2024: 2.98×2.98×2025: 2.97×2.97×2026: 3.85×3.85×2223242526
ROE10.4%
2022: 14.3%14.3%2023: 14.4%14.4%2024: 13.9%13.9%2025: 10.0%10.0%2026: 10.4%10.4%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20229.7%0.51×4.9%2.88×14.3%
20239.2%0.53×4.9%2.92×14.4%
20249.6%0.49×4.7%2.98×13.9%
20257.3%0.46×3.4%2.97×10.0%
20267.2%0.38×2.7%3.85×10.4%

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 ÷ revenue78.3%
2021: 77.7%77.7%2022: 76.7%76.7%2023: 74.0%74.0%2024: 77.9%77.9%2025: 77.8%77.8%2026: 78.3%78.3%212223242526
PPE ÷ total assets24.1%
2021: 40.4%40.4%2022: 39.1%39.1%2023: 38.4%38.4%2024: 35.2%35.2%2025: 35.5%35.5%2026: 24.1%24.1%212223242526
Goodwill ÷ parent equity21.4%
2021: 14.0%14.0%2022: 14.6%14.6%2023: 15.0%15.0%2024: 17.3%17.3%2025: 16.8%16.8%2026: 21.4%21.4%212223242526
Goodwill balance¥2.08T
2021: ¥1.06T¥1.06T2022: ¥1.21T¥1.21T2023: ¥1.28T¥1.28T2024: ¥1.7T¥1.7T2025: ¥1.72T¥1.72T2026: ¥2.08T¥2.08T212223242526

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¥278.6B
2021: ¥232.6B¥232.6B2022: ¥248B¥248B2023: ¥252.8B¥252.8B2024: ¥254.9B¥254.9B2025: ¥268.7B¥268.7B2026: ¥278.6B¥278.6B212223242526
R&D / revenue1.9%
2021: 1.9%1.9%2022: 2.0%2.0%2023: 1.9%1.9%2024: 1.9%1.9%2025: 2.0%2.0%2026: 1.9%1.9%212223242526

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
Revenue12,156,44713,136,19413,374,56913,704,72714,409,121
Cost of revenue—————
Gross profit—————
SG&A—————
Operating income1,768,5931,828,9861,922,9101,649,5711,706,221
Pretax income1,795,5251,817,6791,980,4571,564,6961,581,923
Income tax539,531524,923635,338482,261499,285
Net income attributable to owners1,181,0831,213,1161,279,5211,000,0161,037,032
Operating margin14.5%13.9%14.4%12.0%11.8%

Balance sheet (reported items)

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

Assets

4%
Property, plant and equipment 24%
5%
Other assets 67%

Funding

Other liabilities 78%
Equity 22%

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¥834.6B¥793.9B¥982.9B¥1T¥1.92T
Total assets¥23.9T¥25.3T¥29.6T¥30.1T¥46.7T
Net assets¥9.02T¥9.35T¥10.9T¥11.3T¥10.2T
Share capital¥938B¥938B¥938B¥938B¥938B
Property, plant and equipment¥9.33T¥9.72T¥10.4T¥10.7T¥11.3T
Goodwill¥1.21T¥1.28T¥1.7T¥1.72T¥2.08T
Current assets¥5.72T¥6.65T¥8.32T¥8.37T¥11.3T
Total liabilities¥14.8T¥16T¥18.7T¥18.7T¥36.5T
Equity attributable to owners of parent¥8.28T¥8.56T¥9.84T¥10.2T¥9.73T
Retained earnings¥7.29T¥8.15T¥9.08T¥9.73T¥8.93T
Treasury stock-¥226.5B-¥737.3B-¥937.3B-¥1.14T-¥1.34T

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第41期(2025/04/01-2026/03/31)

    ID S100YCP32026-06-16Open
  • EDINET (FSA Japan)

    有価証券報告書-第40期(2024/04/01-2025/03/31)

    ID S100W1FL2025-06-20Open
  • EDINET (FSA Japan)

    有価証券報告書-第39期(2023/04/01-2024/03/31)

    ID S100TPQI2024-06-21Open
  • EDINET (FSA Japan)

    有価証券報告書-第38期(2022/04/01-2023/03/31)

    ID S100R2ZO2023-06-23Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第37期(令和3年4月1日-令和4年3月31日)

    ID S100PE6K2022-10-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第36期(令和2年4月1日-令和3年3月31日)

    ID S100LRAE2021-06-25Open

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