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Optex GroupOPTEX GROUP Company,Limited6914東証プライム電気機器FY ending Dec 2025, consolidated, J-GAAP

Optex Group revenue and profit

Out of every ¥100 of sales, about ¥12 is left as operating profit. Revenue changed +4.1% from the prior year, operating profit +14.5%.

Five-year trend

Revenue¥65.9B
FY ending Dec 2021: ¥45.9B¥45.9BFY ending Dec 2022: ¥54.8B¥54.8BFY ending Dec 2023: ¥56.4B¥56.4BFY ending Dec 2024: ¥63.3B¥63.3BFY ending Dec 2025: ¥65.9B¥65.9BFY21FY22FY23FY24FY25
Operating income¥8.15B
FY ending Dec 2021: ¥4.63B¥4.63BFY ending Dec 2022: ¥6.3B¥6.3BFY ending Dec 2023: ¥5.9B¥5.9BFY ending Dec 2024: ¥7.12B¥7.12BFY ending Dec 2025: ¥8.15B¥8.15BFY21FY22FY23FY24FY25
Operating margin12.4%
FY ending Dec 2021: 10.1%10.1%FY ending Dec 2022: 11.5%11.5%FY ending Dec 2023: 10.5%10.5%FY ending Dec 2024: 11.3%11.3%FY ending Dec 2025: 12.4%12.4%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin10.0%
Asset turnover0.88×
ROA8.8%
ROA8.8%
Financial leverage1.56×
ROE13.7%

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

Net margin10.0%
2021: 8.2%8.2%2022: 8.7%8.7%2023: 8.2%8.2%2024: 9.0%9.0%2025: 10.0%10.0%2122232425
Asset turnover0.88×
2021: 0.79×0.79×2022: 0.91×0.91×2023: 0.86×0.86×2024: 0.90×0.90×2025: 0.88×0.88×2122232425
ROA8.8%
2021: 6.5%6.5%2022: 7.8%7.8%2023: 7.1%7.1%2024: 8.1%8.1%2025: 8.8%8.8%2122232425
Financial leverage1.56×
2021: 1.68×1.68×2022: 1.68×1.68×2023: 1.65×1.65×2024: 1.61×1.61×2025: 1.56×1.56×2122232425
ROE13.7%
2021: 11.0%11.0%2022: 13.2%13.2%2023: 11.7%11.7%2024: 13.1%13.1%2025: 13.7%13.7%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20218.2%0.79×6.5%1.68×11.0%
20228.7%0.91×7.8%1.68×13.2%
20238.2%0.86×7.1%1.65×11.7%
20249.0%0.90×8.1%1.61×13.1%
202510.0%0.88×8.8%1.56×13.7%

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 ÷ revenue16.2%
2020: 17.7%17.7%2021: 15.2%15.2%2022: 13.9%13.9%2023: 13.8%13.8%2024: 13.6%13.6%2025: 16.2%16.2%202122232425
PPE ÷ total assets13.9%
2020: 13.0%13.0%2021: 12.1%12.1%2022: 12.0%12.0%2023: 11.6%11.6%2024: 11.8%11.8%2025: 13.9%13.9%202122232425
Goodwill ÷ parent equity2.1%
2020: 3.8%3.8%2021: 3.1%3.1%2022: 2.6%2.6%2023: 2.3%2.3%2024: 1.8%1.8%2025: 2.1%2.1%202122232425
Goodwill balance¥1.08B
2020: ¥1.24B¥1.24B2021: ¥1.05B¥1.05B2022: ¥987M¥987M2023: ¥946M¥946M2024: ¥822M¥822M2025: ¥1.08B¥1.08B202122232425

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¥3.76B
2020: ¥2.75B¥2.75B2021: ¥3.1B¥3.1B2022: ¥3.38B¥3.38B2023: ¥3.38B¥3.38B2024: ¥3.7B¥3.7B2025: ¥3.76B¥3.76B202122232425
R&D / revenue5.7%
2020: 7.9%7.9%2021: 6.8%6.8%2022: 6.2%6.2%2023: 6.0%6.0%2024: 5.8%5.8%2025: 5.7%5.7%202122232425
Receivable days77d
2020: 87d87d2021: 83d83d2022: 81d81d2023: 78d78d2024: 80d80d2025: 77d77d202122232425
Payable days40d
2020: 44d44d2021: 43d43d2022: 43d43d2023: 37d37d2024: 38d38d2025: 40d40d202122232425

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 Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Revenue45,86654,81156,37263,26965,878
Cost of revenue21,98126,81127,59731,40231,587
Gross profit23,88428,00028,77531,86734,291
SG&A19,25321,69622,87624,74626,137
Operating income4,6306,3035,8997,1218,153
Pretax income5,0316,5756,5967,5888,861
Income tax1,2651,8211,9851,8942,261
Net income attributable to owners3,7624,7524,6085,6896,595
Operating margin10.1%11.5%10.5%11.3%12.4%

Balance sheet (reported items)

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

Assets

Cash 30%
Receivables 18%
Property, plant and equipment 14%
4%
2%
Other assets 32%

Funding

5%
Other liabilities 22%
Equity 73%

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

ItemFY ending Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Cash and equivalents¥17.1B¥17.3B¥17.1B¥21.1B¥22.9B
Total assets¥57.8B¥63.3B¥67.1B¥72.8B¥76.9B
Net assets¥35.4B¥39.7B¥44.3B¥50.1B¥56.1B
Share capital¥2.8B¥2.8B¥2.8B¥2.8B¥2.8B
Trade receivables¥10.4B¥12.2B¥12.1B¥13.9B¥13.9B
Property, plant and equipment¥6.99B¥7.62B¥7.81B¥8.59B¥10.7B
Intangible assets excluding goodwill¥3.2B¥2.81B¥2.38B¥1.89B¥2.17B
Goodwill¥1.05B¥987M¥946M¥822M¥1.08B
Investment securities¥2.12B¥2.14B¥1.62B¥1.26B¥1.57B
Current assets¥42.5B¥47.9B¥52.6B¥58B¥59.5B
Current liabilities¥18.6B¥18.8B¥15.7B¥17.5B¥15.9B
Trade payables¥2.59B¥3.17B¥2.79B¥3.24B¥3.5B
Short-term borrowings¥10.5B¥8.93B¥4.92B¥5B¥3.8B
Long-term borrowings¥210M¥1.25B¥3.93B¥2.1B¥1.81B
Total liabilities¥22.4B¥23.6B¥22.9B¥22.8B¥20.8B
Non-controlling interests¥12M¥13M¥16M¥21M¥24M
Equity attributable to owners of parent¥34.3B¥37.9B¥41.2B¥45.6B¥50.6B
Retained earnings¥27.5B¥31.1B¥34.4B¥38.7B¥43.6B
Treasury stock-¥3.59B-¥3.59B-¥3.59B-¥3.44B-¥3.43B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第47期(2025/01/01－2025/12/31)

    ID S100XU362026-03-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第46期(2024/01/01－2024/12/31)

    ID S100VH882025-03-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第45期(2023/01/01－2023/12/31)

    ID S100T4MC2024-03-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第44期(2022/01/01－2022/12/31)

    ID S100QFMW2023-03-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第43期(令和3年1月1日－令和3年12月31日)

    ID S100NPTF2022-03-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第42期(令和2年1月1日－令和2年12月31日)

    ID S100L1MR2021-03-26Open

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