System DSystem D Inc.3804東証スタンダード情報・通信業FY ending Oct 2025, consolidated, J-GAAP
Out of every ¥100 of sales, about ¥18 is left as operating profit. Revenue changed +8.7% from the prior year, operating profit +13.2%.
Net margin × asset turnover = ROA; ROA × financial leverage = ROE
Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.
| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE |
|---|---|---|---|---|---|
| 2021 | 14.9% | 0.82× | 12.2% | 1.51× | 18.5% |
| 2022 | 14.0% | 0.80× | 11.2% | 1.59× | 17.7% |
| 2023 | 13.4% | 0.78× | 10.4% | 1.58× | 16.5% |
| 2024 | 12.0% | 0.70× | 8.4% | 1.54× | 12.9% |
| 2025 | 12.5% | 0.70× | 8.8% | 1.51× | 13.2% |
Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.
Annual trends in tangible-asset ratios and goodwill balance.
Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition
Track R&D investment and how long operating capital remains tied up before sales turn into cash.
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.
| Item | FY ending Oct 2021 | FY ending Oct 2022 | FY ending Oct 2023 | FY ending Oct 2024 | FY ending Oct 2025 |
|---|---|---|---|---|---|
| Revenue | 3,842 | 4,233 | 4,737 | 4,632 | 5,032 |
| Cost of revenue | 2,024 | 2,279 | 2,670 | 2,627 | 2,852 |
| Gross profit | 1,818 | 1,953 | 2,067 | 2,004 | 2,181 |
| SG&A | 1,009 | 1,056 | 1,153 | 1,175 | 1,243 |
| Operating income | 808 | 898 | 914 | 829 | 938 |
| Pretax income | 798 | 842 | 907 | 815 | 914 |
| Income tax | 224 | 250 | 275 | 259 | 286 |
| Net income attributable to owners | 574 | 592 | 633 | 556 | 628 |
| Operating margin | 21.0% | 21.2% | 19.3% | 17.9% | 18.6% |
Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.
Each bar totals 100% of assets; other is the residual.
| Item | FY ending Oct 2021 | FY ending Oct 2022 | FY ending Oct 2023 | FY ending Oct 2024 | FY ending Oct 2025 |
|---|---|---|---|---|---|
| Cash and equivalents | ¥1.14B | ¥1.23B | ¥1.19B | ¥2.03B | ¥2.1B |
| Total assets | ¥4.7B | ¥5.9B | ¥6.25B | ¥6.96B | ¥7.36B |
| Net assets | ¥3.1B | ¥3.58B | ¥4.09B | ¥4.51B | ¥5.01B |
| Share capital | ¥484.3M | ¥484.3M | ¥484.3M | ¥484.3M | ¥484.3M |
| Inventories | ¥55.2M | ¥113.2M | ¥90.2M | ¥59M | ¥114.9M |
| Property, plant and equipment | ¥750.3M | ¥1.83B | ¥2B | ¥1.97B | ¥1.95B |
| Intangible assets excluding goodwill | ¥1.44B | ¥1.34B | ¥1.4B | ¥1.29B | ¥1.14B |
| Goodwill | ¥90.7M | ¥70.2M | ¥198.1M | ¥173.3M | ¥148.5M |
| Investment securities | ¥15.8M | ¥22.9M | ¥37.8M | ¥32.5M | ¥62.7M |
| Current assets | ¥1.92B | ¥2.12B | ¥2.21B | ¥3.08B | ¥3.61B |
| Current liabilities | ¥1.24B | ¥1.6B | ¥1.52B | ¥1.92B | ¥1.93B |
| Trade payables | ¥214.7M | ¥160.9M | ¥191.8M | ¥219.5M | ¥195.6M |
| Long-term borrowings | ¥8.4M | ¥433.4M | ¥313.4M | ¥193.4M | ¥73.4M |
| Total liabilities | ¥1.6B | ¥2.32B | ¥2.15B | ¥2.46B | ¥2.35B |
| Equity attributable to owners of parent | ¥3.1B | ¥3.58B | ¥4.09B | ¥4.5B | ¥4.98B |
| Retained earnings | ¥2.14B | ¥2.62B | ¥3.13B | ¥3.53B | ¥4.01B |
| Treasury stock | -¥143.9M | -¥144M | -¥144M | -¥134.7M | -¥126M |
EDINET (FSA Japan)
有価証券報告書－第44期(2024/11/01－2025/10/31)
EDINET (FSA Japan)
有価証券報告書－第43期(2023/11/01－2024/10/31)
EDINET (FSA Japan)
有価証券報告書－第42期(2022/11/01－2023/10/31)
EDINET (FSA Japan)
有価証券報告書－第41期(2021/11/01－2022/10/31)
EDINET (FSA Japan)
有価証券報告書－第40期(令和2年11月1日－令和3年10月31日)
EDINET (FSA Japan)
有価証券報告書－第39期(令和1年11月1日－令和2年10月31日)
Extracted from XBRL: 52 / Derived from other figures: 1
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