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S&B FoodsS&B FOODS INC.2805東証スタンダード食料品FY ending Mar 2026, consolidated, J-GAAP

S&B Foods revenue and profit

Out of every ¥100 of sales, about ¥8 is left as operating profit. Revenue changed +4.5% from the prior year, operating profit +9.3%.

Five-year trend

Revenue¥129B
FY ending Mar 2022: ¥118B¥118BFY ending Mar 2023: ¥120.7B¥120.7BFY ending Mar 2024: ¥126.4B¥126.4BFY ending Mar 2025: ¥123.5B¥123.5BFY ending Mar 2026: ¥129B¥129BFY22FY23FY24FY25FY26
Operating income¥10.3B
FY ending Mar 2022: ¥8.62B¥8.62BFY ending Mar 2023: ¥5.4B¥5.4BFY ending Mar 2024: ¥7.78B¥7.78BFY ending Mar 2025: ¥9.44B¥9.44BFY ending Mar 2026: ¥10.3B¥10.3BFY22FY23FY24FY25FY26
Operating margin8.0%
FY ending Mar 2022: 7.3%7.3%FY ending Mar 2023: 4.5%4.5%FY ending Mar 2024: 6.2%6.2%FY ending Mar 2025: 7.6%7.6%FY ending Mar 2026: 8.0%8.0%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin6.5%
Asset turnover0.88×
ROA5.7%
ROA5.7%
Financial leverage1.92×
ROE11.0%

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

Net margin6.5%
2022: 5.3%5.3%2023: 3.4%3.4%2024: 5.3%5.3%2025: 6.1%6.1%2026: 6.5%6.5%2223242526
Asset turnover0.88×
2022: 0.92×0.92×2023: 0.93×0.93×2024: 0.93×0.93×2025: 0.89×0.89×2026: 0.88×0.88×2223242526
ROA5.7%
2022: 4.8%4.8%2023: 3.1%3.1%2024: 5.0%5.0%2025: 5.5%5.5%2026: 5.7%5.7%2223242526
Financial leverage1.92×
2022: 2.29×2.29×2023: 2.26×2.26×2024: 2.19×2.19×2025: 2.04×2.04×2026: 1.92×1.92×2223242526
ROE11.0%
2022: 11.1%11.1%2023: 7.1%7.1%2024: 10.9%10.9%2025: 11.1%11.1%2026: 11.0%11.0%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20225.3%0.92×4.8%2.29×11.1%
20233.4%0.93×3.1%2.26×7.1%
20245.3%0.93×5.0%2.19×10.9%
20256.1%0.89×5.5%2.04×11.1%
20266.5%0.88×5.7%1.92×11.0%

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 ÷ revenue27.0%
2021: 35.8%35.8%2022: 34.0%34.0%2023: 33.4%33.4%2024: 28.0%28.0%2025: 28.3%28.3%2026: 27.0%27.0%212223242526
PPE ÷ total assets22.3%
2021: 32.6%32.6%2022: 31.1%31.1%2023: 30.9%30.9%2024: 25.2%25.2%2025: 25.5%25.5%2026: 22.3%22.3%212223242526

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¥1.43B
2021: ¥1.21B¥1.21B2022: ¥1.26B¥1.26B2023: ¥1.35B¥1.35B2024: ¥1.33B¥1.33B2025: ¥1.34B¥1.34B2026: ¥1.43B¥1.43B212223242526
R&D / revenue1.1%
2021: 1.1%1.1%2022: 1.1%1.1%2023: 1.1%1.1%2024: 1.1%1.1%2025: 1.1%1.1%2026: 1.1%1.1%212223242526
Payable days44d
2021: 55d55d2022: 54d54d2023: 57d57d2024: 55d55d2025: 55d55d2026: 44d44d212223242526

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
Revenue118,046120,651126,443123,520129,022
Cost of revenue86,13891,43994,70789,72292,889
Gross profit31,90829,21131,73533,79836,132
SG&A23,29023,81223,95724,35625,814
Operating income8,6175,3997,7789,44210,318
Pretax income8,6035,5108,0549,69811,509
Income tax2,3771,4291,3372,1323,099
Net income attributable to owners6,2254,0806,7177,5658,409
Operating margin7.3%4.5%6.2%7.6%8.0%

Balance sheet (reported items)

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

Assets

Cash 18%
Property, plant and equipment 22%
0%
Investment securities 13%
Other assets 47%

Funding

7%
Interest-bearing debt 15%
Other liabilities 18%
Equity 60%
0%

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¥25.2B¥20.8B¥22.1B¥19.4B¥27.5B
Total assets¥129B¥130.5B¥140.2B¥137.1B¥156.5B
Net assets¥59.9B¥62.9B¥72.7B¥80.3B¥94.3B
Share capital¥1.74B¥1.74B¥1.74B¥1.74B¥1.74B
Property, plant and equipment¥40.2B¥40.3B¥35.3B¥35B¥34.9B
Intangible assets excluding goodwill¥725M¥544M¥601M¥694M¥570M
Investment securities¥9.44B¥10.1B¥15.1B¥15.6B¥20.7B
Current assets¥73.3B¥75.3B¥85.1B¥81.6B¥95.4B
Current liabilities¥46.5B¥47.4B¥48.8B¥36.9B¥38.4B
Trade payables¥12.9B¥14.2B¥14.2B¥13.6B¥11.2B
Short-term borrowings¥18.4B¥19B¥16.5B¥8.17B¥8.79B
Long-term borrowings¥14.6B¥12B¥10B¥9.74B¥12B
Bonds——¥1B¥2B¥2B
Interest-bearing debt——¥27.6Bderived¥19.9Bderived¥22.8Bderived
Total liabilities¥69.1B¥67.5B¥67.5B¥56.8B¥62.3B
Equity attributable to owners of parent¥56.3B¥58.7B¥64.8B¥71.5B¥81.4B
Retained earnings¥52.1B¥55.6B¥61.6B¥68.4B¥76.3B
Treasury stock-¥2.93B-¥3.96B-¥3.96B-¥3.96B-¥3.95B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第113期(2025/04/01－2026/03/31)

    ID S100YGTZ2026-06-22Open

  • EDINET (FSA Japan)

    有価証券報告書－第112期(2024/04/01－2025/03/31)

    ID S100W8HQ2025-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第111期(2023/04/01－2024/03/31)

    ID S100TVTR2024-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第110期(2022/04/01－2023/03/31)

    ID S100QYWU2023-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第109期(令和3年4月1日－令和4年3月31日)

    ID S100OGHV2022-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第108期(令和2年4月1日－令和3年3月31日)

    ID S100LJZO2021-06-29Open

Extracted from XBRL: 51 / Derived from other figures: 2

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