property technologiesproperty technologies Inc.5527東証グロース不動産業FY ending Nov 2025, consolidated, J-GAAP

property technologies revenue and profit

Out of every ¥100 of sales, about ¥4 is left as operating profit. Revenue changed +22.3% from the prior year, operating profit +49.9%.

Five-year trend

Revenue¥50.9B
FY ending Nov 2021: ¥29.5B¥29.5BFY ending Nov 2022: ¥38.8B¥38.8BFY ending Nov 2023: ¥37B¥37BFY ending Nov 2024: ¥41.6B¥41.6BFY ending Nov 2025: ¥50.9B¥50.9BFY21FY22FY23FY24FY25
Operating income¥2.04B
FY ending Nov 2021: ¥1.69B¥1.69BFY ending Nov 2022: ¥2.36B¥2.36BFY ending Nov 2023: ¥1.32B¥1.32BFY ending Nov 2024: ¥1.36B¥1.36BFY ending Nov 2025: ¥2.04B¥2.04BFY21FY22FY23FY24FY25
Operating margin4.0%
FY ending Nov 2021: 5.7%5.7%FY ending Nov 2022: 6.1%6.1%FY ending Nov 2023: 3.6%3.6%FY ending Nov 2024: 3.3%3.3%FY ending Nov 2025: 4.0%4.0%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin2.1%
Asset turnover1.21×
ROA2.6%
ROA2.6%
Financial leverage5.32×
ROE13.6%

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

Net margin2.1%
2021: 3.5%3.5%2022: 3.6%3.6%2023: 1.8%1.8%2024: 1.5%1.5%2025: 2.1%2.1%2122232425
Asset turnover1.21×
2021: 1.14×1.14×2022: 1.37×1.37×2023: 1.07×1.07×2024: 1.06×1.06×2025: 1.21×1.21×2122232425
ROA2.6%
2021: 4.0%4.0%2022: 4.9%4.9%2023: 1.9%1.9%2024: 1.6%1.6%2025: 2.6%2.6%2122232425
Financial leverage5.32×
2021: 5.93×5.93×2022: 5.90×5.90×2023: 5.57×5.57×2024: 5.40×5.40×2025: 5.32×5.32×2122232425
ROE13.6%
2021: 23.7%23.7%2022: 28.9%28.9%2023: 10.7%10.7%2024: 8.7%8.7%2025: 13.6%13.6%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20213.5%1.14×4.0%5.93×23.7%
20223.6%1.37×4.9%5.90×28.9%
20231.8%1.07×1.9%5.57×10.7%
20241.5%1.06×1.6%5.40×8.7%
20252.1%1.21×2.6%5.32×13.6%

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 ÷ revenue2.4%
2021: 3.4%3.4%2022: 3.1%3.1%2023: 3.6%3.6%2024: 3.0%3.0%2025: 2.4%2.4%2122232425
PPE ÷ total assets2.9%
2021: 3.9%3.9%2022: 3.9%3.9%2023: 3.5%3.5%2024: 3.1%3.1%2025: 2.9%2.9%2122232425
Goodwill ÷ parent equity10.9%
2021: 35.3%35.3%2022: 26.0%26.0%2023: 16.7%16.7%2024: 13.6%13.6%2025: 10.9%10.9%2122232425
Goodwill balance¥910.7M
2021: ¥1.54B¥1.54B2022: ¥1.37B¥1.37B2023: ¥1.19B¥1.19B2024: ¥1.01B¥1.01B2025: ¥910.7M¥910.7M2122232425

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Income statement (JPY millions)

ItemFY ending Nov 2021FY ending Nov 2022FY ending Nov 2023FY ending Nov 2024FY ending Nov 2025
Revenue29,54438,79636,96541,61350,910
Cost of revenue24,13731,92430,57834,97243,271
Gross profit5,4076,8726,3886,6417,638
SG&A3,7184,5135,0635,2785,596
Operating income1,6882,3591,3251,3622,042
Pretax income1,6512,2001,1491,0221,683
Income tax616807487387600
Net income attributable to owners1,0351,3936626361,082
Operating margin5.7%6.1%3.6%3.3%4.0%

Balance sheet (reported items)

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

Assets

Cash 10%
3%
4%
0%
Other assets 83%

Funding

Interest-bearing debt 66%
Other liabilities 15%
Equity 19%

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

ItemFY ending Nov 2021FY ending Nov 2022FY ending Nov 2023FY ending Nov 2024FY ending Nov 2025
Cash and equivalents¥4.92B¥5.74B¥5.13B¥4.32B¥4.26B
Total assets¥25.9B¥30.9B¥38.1B¥40.8B¥43.6B
Net assets¥4.37B¥5.27B¥7.12B¥7.48B¥8.39B
Share capital¥100M¥100M¥695.9M¥300M¥307.9M
Property, plant and equipment¥1.01B¥1.22B¥1.34B¥1.26B¥1.24B
Intangible assets excluding goodwill¥1.61B¥1.43B¥1.24B¥1.04B¥931.8M
Goodwill¥1.54B¥1.37B¥1.19B¥1.01B¥910.7M
Investment securities¥51M¥51.5M¥52.5M¥52.6M¥183.3M
Current assets¥22.8B¥27.8B¥34.9B¥37.9B¥40.5B
Current liabilities¥16.3B¥21.1B¥24.8B¥27.9B¥32.2B
Short-term borrowings¥10.3B¥15.4B¥19B¥22.5B¥26B
Long-term borrowings¥4.18B¥3.41B¥4.97B¥4.14B¥1.74B
Bonds¥826M¥838M¥980M¥1.15B¥964.7M
Interest-bearing debt¥15.4Bderived¥19.6Bderived¥24.9Bderived¥27.8Bderived¥28.7Bderived
Total liabilities¥21.5B¥25.7B¥31B¥33.3B¥35.2B
Equity attributable to owners of parent¥4.37B¥5.26B¥7.12B¥7.47B¥8.39B
Retained earnings¥3.25B¥4.64B¥5.3B¥5.94B¥6.83B
Treasury stock———-¥68.2M—

Sources

Show source documents (4)
  • EDINET (FSA Japan)

    有価証券報告書-第6期(2024/12/01-2025/11/30)

    ID S100XN0E2026-02-25Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第5期(2023/12/01-2024/11/30)

    ID S100VM4Q2025-04-14Open
  • EDINET (FSA Japan)

    有価証券報告書-第4期(2022/12/01-2023/11/30)

    ID S100SYLH2024-02-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第3期(2021/12/01-2022/11/30)

    ID S100QAYD2023-02-28Open

Extracted from XBRL: 49 / Derived from other figures: 2

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