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STI Foods HoldingsSTI Foods Holdings,Inc.2932東証スタンダード食料品FY ending Dec 2025, consolidated, J-GAAP

STI Foods Holdings revenue and profit

Out of every ¥100 of sales, about ¥7 is left as operating profit. Revenue changed +8.5% from the prior year, operating profit -11.7%.

Five-year trend

Revenue¥38.6B
FY ending Dec 2021: ¥26.3B¥26.3BFY ending Dec 2022: ¥27.6B¥27.6BFY ending Dec 2023: ¥31.8B¥31.8BFY ending Dec 2024: ¥35.6B¥35.6BFY ending Dec 2025: ¥38.6B¥38.6BFY21FY22FY23FY24FY25
Operating income¥2.56B
FY ending Dec 2021: ¥1.72B¥1.72BFY ending Dec 2022: ¥1.49B¥1.49BFY ending Dec 2023: ¥2.31B¥2.31BFY ending Dec 2024: ¥2.9B¥2.9BFY ending Dec 2025: ¥2.56B¥2.56BFY21FY22FY23FY24FY25
Operating margin6.6%
FY ending Dec 2021: 6.6%6.6%FY ending Dec 2022: 5.4%5.4%FY ending Dec 2023: 7.3%7.3%FY ending Dec 2024: 8.2%8.2%FY ending Dec 2025: 6.6%6.6%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin6.4%
Asset turnover1.88×
ROA12.1%
ROA12.1%
Financial leverage2.25×
ROE27.2%

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

Net margin6.4%
2021: 4.2%4.2%2022: 3.6%3.6%2023: 4.9%4.9%2024: 4.7%4.7%2025: 6.4%6.4%2122232425
Asset turnover1.88×
2021: 2.06×2.06×2022: 2.07×2.07×2023: 2.20×2.20×2024: 2.07×2.07×2025: 1.88×1.88×2122232425
ROA12.1%
2021: 8.7%8.7%2022: 7.6%7.6%2023: 10.8%10.8%2024: 9.8%9.8%2025: 12.1%12.1%2122232425
Financial leverage2.25×
2021: 2.35×2.35×2022: 2.29×2.29×2023: 2.13×2.13×2024: 2.19×2.19×2025: 2.25×2.25×2122232425
ROE27.2%
2021: 20.5%20.5%2022: 17.3%17.3%2023: 23.0%23.0%2024: 21.4%21.4%2025: 27.2%27.2%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20214.2%2.06×8.7%2.35×20.5%
20223.6%2.07×7.6%2.29×17.3%
20234.9%2.20×10.8%2.13×23.0%
20244.7%2.07×9.8%2.19×21.4%
20256.4%1.88×12.1%2.25×27.2%

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 ÷ revenue25.1%
2020: 16.2%16.2%2021: 14.6%14.6%2022: 14.6%14.6%2023: 13.3%13.3%2024: 21.5%21.5%2025: 25.1%25.1%202122232425
PPE ÷ total assets44.4%
2020: 33.0%33.0%2021: 30.0%30.0%2022: 29.2%29.2%2023: 28.0%28.0%2024: 39.7%39.7%2025: 44.4%44.4%202122232425
Goodwill ÷ parent equity—
2020: 3.3%3.3%2021: 1.4%1.4%2022: 0.5%0.5%202122232425
Goodwill balance—
2020: ¥116.6M¥116.6M2021: ¥74.2M¥74.2M2022: ¥31.8M¥31.8M202122232425

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.

Receivable days38d
2020: 42d42d2021: 41d41d2022: 45d45d2023: 38d38d2024: 39d39d2025: 38d38d202122232425

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
Revenue26,26527,56831,78435,58038,605
Cost of revenue19,00720,17922,95225,62728,157
Gross profit7,2587,3898,8329,95310,447
SG&A5,5355,9006,5267,0527,885
Operating income1,7231,4882,3062,9012,562
Pretax income1,7491,5892,3442,6593,200
Income tax638583781974712
Net income attributable to owners1,1111,0061,5631,6852,488
Operating margin6.6%5.4%7.3%8.2%6.6%

Balance sheet (reported items)

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

Assets

Cash 16%
Receivables 19%
Property, plant and equipment 44%
1%
1%
Other assets 19%

Funding

Interest-bearing debt 11%
Other liabilities 43%
Equity 46%

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¥3.24B¥2.64B¥4B¥4.18B¥3.46B
Total assets¥12.8B¥13.8B¥15.1B¥19.3B¥21.9B
Net assets¥5.44B¥6.2B¥7.45B¥8.38B¥10B
Share capital¥1.02B¥1.05B¥1.05B¥1.05B¥1.05B
Trade receivables¥2.94B¥3.39B¥3.35B¥3.8B¥4.07B
Property, plant and equipment¥3.83B¥4.04B¥4.22B¥7.65B¥9.69B
Intangible assets excluding goodwill¥443.4M¥360.2M¥260.7M¥236M¥161M
Goodwill¥74.2M¥31.8M———
Investment securities¥25.8M¥30.5M¥78.1M¥118M¥189M
Current assets¥8.21B¥9.14B¥10.3B¥11.1B¥10.6B
Current liabilities¥5.56B¥5.98B¥6.16B¥7.56B¥7.09B
Short-term borrowings————¥170M
Long-term borrowings¥504.6M¥502M¥306.4M¥922M¥1.53B
Bonds———¥790M¥650M
Interest-bearing debt————¥2.35Bderived
Total liabilities¥7.34B¥7.6B¥7.66B¥10.9B¥11.8B
Equity attributable to owners of parent¥5.43B¥6.17B¥7.41B¥8.32B¥9.98B
Retained earnings¥3.49B¥4.18B¥5.41B¥6.33B¥7.99B
Treasury stock-¥205K-¥327K-¥662K¥0¥0

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    訂正有価証券報告書－第9期(2025/01/01－2025/12/31)

    ID S100XVLJ2026-03-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第8期(2024/01/01－2024/12/31)

    ID S100VGXQ2025-03-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第7期(2023/01/01－2023/12/31)

    ID S100T54K2024-03-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第6期(2022/01/01－2022/12/31)

    ID S100QFU02023-03-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第5期(令和3年1月1日－令和3年12月31日)

    ID S100NQQY2022-03-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第4期(令和2年1月1日－令和2年12月31日)

    ID S100L1SR2021-03-26Open

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

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