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Park24PARK24 Co., Ltd.4666東証プライム不動産業FY ending Oct 2025, consolidated, J-GAAP

Park24 revenue and profit

Out of every ¥100 of sales, about ¥9 is left as operating profit. Revenue changed +9.5% from the prior year, operating profit -2.9%.

Five-year trend

Revenue¥406.2B
FY ending Oct 2021: ¥251.1B¥251.1BFY ending Oct 2022: ¥290.3B¥290.3BFY ending Oct 2023: ¥330.1B¥330.1BFY ending Oct 2024: ¥370.9B¥370.9BFY ending Oct 2025: ¥406.2B¥406.2BFY21FY22FY23FY24FY25
Operating income¥37.6B
FY ending Oct 2021: -¥8.04B-¥8.04BFY ending Oct 2022: ¥20.7B¥20.7BFY ending Oct 2023: ¥32B¥32BFY ending Oct 2024: ¥38.7B¥38.7BFY ending Oct 2025: ¥37.6B¥37.6BFY21FY22FY23FY24FY25
Operating margin9.2%
FY ending Oct 2021: -3.2%-3.2%FY ending Oct 2022: 7.1%7.1%FY ending Oct 2023: 9.7%9.7%FY ending Oct 2024: 10.4%10.4%FY ending Oct 2025: 9.2%9.2%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin3.9%
Asset turnover1.25×
ROA4.9%
ROA4.9%
Financial leverage3.36×
ROE16.5%

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

Net margin3.9%
2022: 0.9%0.9%2023: 5.3%5.3%2024: 5.0%5.0%2025: 3.9%3.9%2122232425
Asset turnover1.25×
2022: 0.93×0.93×2023: 1.07×1.07×2024: 1.23×1.23×2025: 1.25×1.25×2122232425
ROA4.9%
2021: -3.6%-3.6%2022: 0.8%0.8%2023: 5.7%5.7%2024: 6.2%6.2%2025: 4.9%4.9%2122232425
Financial leverage3.36×
2022: 8.05×8.05×2023: 5.00×5.00×2024: 3.79×3.79×2025: 3.36×3.36×2122232425
ROE16.5%
2022: 6.4%6.4%2023: 28.5%28.5%2024: 23.4%23.4%2025: 16.5%16.5%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
2021——×-3.6%—×—
20220.9%0.93×0.8%8.05×6.4%
20235.3%1.07×5.7%5.00×28.5%
20245.0%1.23×6.2%3.79×23.4%
20253.9%1.25×4.9%3.36×16.5%

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 ÷ revenue38.4%
2020: 53.3%53.3%2021: 50.9%50.9%2022: 40.5%40.5%2023: 36.7%36.7%2024: 36.0%36.0%2025: 38.4%38.4%202122232425
PPE ÷ total assets44.0%
2020: 48.5%48.5%2021: 40.0%40.0%2022: 38.2%38.2%2023: 39.3%39.3%2024: 45.2%45.2%2025: 44.0%44.0%202122232425
Goodwill ÷ parent equity15.7%
2020: 45.7%45.7%2021: 67.5%67.5%2022: 34.4%34.4%2023: 25.8%25.8%2024: 19.5%19.5%2025: 15.7%15.7%202122232425
Goodwill balance¥16.4B
2020: ¥16.8B¥16.8B2021: ¥17B¥17B2022: ¥18.1B¥18.1B2023: ¥18.1B¥18.1B2024: ¥17.4B¥17.4B2025: ¥16.4B¥16.4B202122232425

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.

Cash conversion cycle—
2020: 25d25d2021: 30d30d202122232425
Receivable days—
2020: 22d22d2021: 27d27d202122232425
Inventory days—
2020: 4d4d2021: 3d3d2022: 4d4d2023: 3d3d2024: 4d4d202122232425
Payable days—
2020: 1d1d2021: 1d1d2022: 1d1d202122232425

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 Oct 2021FY ending Oct 2022FY ending Oct 2023FY ending Oct 2024FY ending Oct 2025
Revenue251,102290,253330,123370,913406,168
Cost of revenue210,408219,659240,496268,843301,924
Gross profit40,69370,59389,626102,069104,243
SG&A48,73249,92157,63963,37166,681
Operating income-8,03920,67231,98638,69737,561
Pretax income-9,95014,62325,77932,30128,095
Income tax1,70812,1468,23713,67512,177
Net income attributable to owners-11,6582,47617,54218,62515,917
Operating margin-3.2%7.1%9.7%10.4%9.2%

Balance sheet (reported items)

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

Assets

Cash 23%
Property, plant and equipment 44%
Intangibles and goodwill 13%
Other assets 20%

Funding

Other liabilities 72%
Equity 28%
0%

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

ItemFY ending Oct 2021FY ending Oct 2022FY ending Oct 2023FY ending Oct 2024FY ending Oct 2025
Cash and equivalents¥91.8B¥85.1B¥73.3B¥48B¥80.2B
Total assets¥319.6B¥307.6B¥308.2B¥295.7B¥354.4B
Net assets¥16.4B¥40B¥58.4B¥78.1B¥98.2B
Share capital¥20.2B¥32.7B¥32.7B¥32.7B¥32.7B
Trade receivables¥18.6B————
Inventories¥2B¥2.5B¥2.04B¥2.87B—
Property, plant and equipment¥127.8B¥117.7B¥121.2B¥133.6B¥155.9B
Intangible assets excluding goodwill¥31.2B¥34.1B¥32.1B¥31.1B¥31.2B
Goodwill¥17B¥18.1B¥18.1B¥17.4B¥16.4B
Investment securities¥598M¥531M———
Current assets¥139.2B¥137.8B¥133.3B¥111.8B¥148B
Current liabilities¥117.9B¥100.7B¥103.9B¥79B¥89.4B
Trade payables¥560M¥650M———
Short-term borrowings¥16B¥17.3B¥3.15B¥1.47B¥2.36B
Long-term borrowings¥112B¥96.4B¥68.2B¥67.8B¥94.7B
Total liabilities¥303.2B¥267.6B¥249.7B¥217.6B¥256.2B
Equity attributable to owners of parent¥25.2B¥52.8B¥70.3B¥89.1B¥104.3B
Retained earnings-¥9.5B-¥7.05B¥10.5B¥29.1B¥44.1B
Treasury stock-¥1.25B-¥1.25B-¥1.25B-¥1.08B-¥901M

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第41期(2024/11/01－2025/10/31)

    ID S100XHMO2026-01-28Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第40期(2023/11/01－2024/10/31)

    ID S100WD3J2025-07-15Open

  • EDINET (FSA Japan)

    有価証券報告書－第39期(2022/11/01－2023/10/31)

    ID S100SNVV2024-01-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第38期(2021/11/01－2022/10/31)

    ID S100Q06T2023-01-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第37期(令和2年11月1日－令和3年10月31日)

    ID S100NAAI2022-01-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第36期(令和1年11月1日－令和2年10月31日)

    ID S100KKHS2021-01-29Open

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