Rigaku HoldingsRigaku Holdings Corporation268A東証プライム精密機器FY ending Dec 2025, consolidated, IFRS

Rigaku Holdings revenue and profit

Out of every ¥100 of sales, about ¥18 is left as operating profit. Revenue changed +3.9% from the prior year, operating profit -9.0%.

Five-year trend

Revenue¥94.2B
FY ending Dec 2022: ¥62.7B¥62.7BFY ending Dec 2023: ¥79.9B¥79.9BFY ending Dec 2024: ¥90.7B¥90.7BFY ending Dec 2025: ¥94.2B¥94.2BFY22FY23FY24FY25
Operating income¥16.7B
FY ending Dec 2022: ¥6.33B¥6.33BFY ending Dec 2023: ¥15.3B¥15.3BFY ending Dec 2024: ¥18.4B¥18.4BFY ending Dec 2025: ¥16.7B¥16.7BFY22FY23FY24FY25
Operating margin17.7%
FY ending Dec 2022: 10.1%10.1%FY ending Dec 2023: 19.1%19.1%FY ending Dec 2024: 20.3%20.3%FY ending Dec 2025: 17.7%17.7%FY22FY23FY24FY25

What drives ROE

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

Net margin12.1%
Asset turnover0.52×
ROA6.3%
ROA6.3%
Financial leverage2.13×
ROE13.4%

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

Net margin12.1%
2022: 1.5%1.5%2023: 13.6%13.6%2024: 15.0%15.0%2025: 12.1%12.1%22232425
Asset turnover0.52×
2022: 0.42×0.42×2023: 0.51×0.51×2024: 0.53×0.53×2025: 0.52×0.52×22232425
ROA6.3%
2022: 0.6%0.6%2023: 7.0%7.0%2024: 8.0%8.0%2025: 6.3%6.3%22232425
Financial leverage2.13×
2022: 2.80×2.80×2023: 2.38×2.38×2024: 2.32×2.32×2025: 2.13×2.13×22232425
ROE13.4%
2022: 1.7%1.7%2023: 16.7%16.7%2024: 18.5%18.5%2025: 13.4%13.4%22232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20221.5%0.42×0.6%2.80×1.7%
202313.6%0.51×7.0%2.38×16.7%
202415.0%0.53×8.0%2.32×18.5%
202512.1%0.52×6.3%2.13×13.4%

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 ÷ revenue24.0%
2023: 19.1%19.1%2024: 21.3%21.3%2025: 24.0%24.0%22232425
PPE ÷ total assets12.2%
2023: 9.4%9.4%2024: 10.9%10.9%2025: 12.2%12.2%22232425
Goodwill ÷ parent equity58.7%
2023: 79.0%79.0%2024: 63.2%63.2%2025: 58.7%58.7%22232425
Goodwill balance¥51.9B
2023: ¥51.7B¥51.7B2024: ¥51.7B¥51.7B2025: ¥51.9B¥51.9B22232425

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¥7.36B
2024: ¥6.84B¥6.84B2025: ¥7.36B¥7.36B22232425
R&D / revenue7.8%
2024: 7.5%7.5%2025: 7.8%7.8%22232425

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 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Revenue62,70179,88790,65294,193
Cost of revenue—33,21035,35641,312
Gross profit—46,67655,29652,881
SG&A—31,26436,80535,540
Operating income6,33115,25618,36716,709
Pretax income—14,82617,97715,971
Income tax—3,9224,3614,569
Net income attributable to owners91110,90413,61511,401
Operating margin10.1%19.1%20.3%17.7%

Balance sheet (reported items)

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

Assets

Cash 13%
Property, plant and equipment 12%
Intangibles and goodwill 28%
Other assets 47%

Funding

Other liabilities 52%
Equity 48%
0%

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

ItemFY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Cash and equivalents¥14.4B¥20.5B¥28B¥24.3B
Total assets¥148.5B¥163.1B¥177.5B¥185.2B
Net assets¥53B¥65.3B¥81.8B¥88.4B
Share capital—¥473M¥473M¥1.14B
Property, plant and equipment—¥15.3B¥19.3B¥22.6B
Goodwill—¥51.7B¥51.7B¥51.9B
Current assets—¥61B¥71.2B¥76.3B
Total liabilities—¥97.8B¥95.8B¥96.8B
Equity attributable to owners of parent—¥65.3B¥81.8B¥88.4B
Retained earnings—¥5.88B¥25.7B¥36.5B
Treasury stock——-¥4M-¥4.04B

Sources

Show source documents (2)
  • EDINET (FSA Japan)

    有価証券報告書-第5期(2025/01/01-2025/12/31)

    ID S100XTB12026-03-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第4期(2024/01/01-2024/12/31)

    ID S100VHDH2025-03-27Open

Extracted from XBRL: 44 / Derived from other figures: 1

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