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YamatoYAMATO HOLDINGS CO.,LTD.9064東証プライム陸運業FY ending Mar 2026, consolidated, J-GAAP

Yamato revenue and profit

Out of every ¥100 of sales, about ¥2 is left as operating profit. Revenue changed +5.8% from the prior year, operating profit +99.2%.

Five-year trend

Revenue¥1.87T
FY ending Mar 2022: ¥1.79T¥1.79TFY ending Mar 2023: ¥1.8T¥1.8TFY ending Mar 2024: ¥1.76T¥1.76TFY ending Mar 2025: ¥1.76T¥1.76TFY ending Mar 2026: ¥1.87T¥1.87TFY22FY23FY24FY25FY26
Operating income¥28.3B
FY ending Mar 2022: ¥77.2B¥77.2BFY ending Mar 2023: ¥60.1B¥60.1BFY ending Mar 2024: ¥40.1B¥40.1BFY ending Mar 2025: ¥14.2B¥14.2BFY ending Mar 2026: ¥28.3B¥28.3BFY22FY23FY24FY25FY26
Operating margin1.5%
FY ending Mar 2022: 4.3%4.3%FY ending Mar 2023: 3.3%3.3%FY ending Mar 2024: 2.3%2.3%FY ending Mar 2025: 0.8%0.8%FY ending Mar 2026: 1.5%1.5%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin0.7%
Asset turnover1.46×
ROA1.1%
ROA1.1%
Financial leverage2.31×
ROE2.5%

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

Net margin0.7%
2022: 3.1%3.1%2023: 2.5%2.5%2024: 2.1%2.1%2025: 2.2%2.2%2026: 0.7%0.7%2223242526
Asset turnover1.46×
2022: 1.65×1.65×2023: 1.64×1.64×2024: 1.54×1.54×2025: 1.44×1.44×2026: 1.46×1.46×2223242526
ROA1.1%
2022: 5.1%5.1%2023: 4.2%4.2%2024: 3.3%3.3%2025: 3.1%3.1%2026: 1.1%1.1%2223242526
Financial leverage2.31×
2022: 1.88×1.88×2023: 1.86×1.86×2024: 1.96×1.96×2025: 2.17×2.17×2026: 2.31×2.31×2223242526
ROE2.5%
2022: 9.7%9.7%2023: 7.8%7.8%2024: 6.4%6.4%2025: 6.7%6.7%2026: 2.5%2.5%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20223.1%1.65×5.1%1.88×9.7%
20232.5%1.64×4.2%1.86×7.8%
20242.1%1.54×3.3%1.96×6.4%
20252.2%1.44×3.1%2.17×6.7%
20260.7%1.46×1.1%2.31×2.5%

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%
2021: 24.0%24.0%2022: 24.0%24.0%2023: 24.6%24.6%2024: 25.9%25.9%2025: 26.9%26.9%2026: 25.1%25.1%212223242526
PPE ÷ total assets36.6%
2021: 37.3%37.3%2022: 39.6%39.6%2023: 40.0%40.0%2024: 38.5%38.5%2025: 37.4%37.4%2026: 36.6%36.6%212223242526
Goodwill ÷ parent equity0.2%
2025: 2.8%2.8%2026: 0.2%0.2%212223242526
Goodwill balance¥920M
2025: ¥15.8B¥15.8B2026: ¥920M¥920M212223242526

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¥3.72B
2021: ¥4.63B¥4.63B2022: ¥3.43B¥3.43B2023: ¥1.78B¥1.78B2024: ¥3.35B¥3.35B2025: ¥2.83B¥2.83B2026: ¥3.72B¥3.72B212223242526
R&D / revenue0.2%
2021: 0.3%0.3%2022: 0.2%0.2%2023: 0.1%0.1%2024: 0.2%0.2%2025: 0.2%0.2%2026: 0.2%0.2%212223242526
Receivable days—
2021: 46d46d212223242526

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
Revenue1,793,6181,800,6681,758,6261,762,6961,865,675
Cost of revenue—————
Gross profit—————
SG&A62,33353,34154,24955,82060,435
Operating income77,19960,08540,05914,20628,304
Pretax income81,04056,81551,70454,79129,854
Income tax23,96811,39313,86416,43516,140
Net income attributable to owners55,95645,89837,62637,93713,662
Operating margin4.3%3.3%2.3%0.8%1.5%

Balance sheet (reported items)

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

Assets

Cash 19%
Property, plant and equipment 37%
5%
4%
Other assets 35%

Funding

Trade payables 14%
Interest-bearing debt 10%
Other liabilities 31%
Equity 45%

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¥180.6B¥183.2B¥194.7B¥208.1B¥237.8B
Total assets¥1.09T¥1.11T¥1.18T¥1.27T¥1.28T
Net assets¥598.2B¥616.4B¥592B¥600.4B¥582.1B
Share capital¥127.2B¥127.2B¥127.2B¥127.2B¥127.2B
Property, plant and equipment¥429.9B¥443B¥454.8B¥474.4B¥469.2B
Intangible assets excluding goodwill¥45.6B¥43.8B¥41.2B¥82.6B¥65.6B
Goodwill———¥15.8B¥920M
Investment securities¥48B¥42.8B¥50.9B¥48.7B¥51.5B
Current assets¥480.8B¥484.6B¥496.4B¥521.2B¥556.2B
Current liabilities¥352.8B¥344.8B¥345.9B¥354.6B¥358.9B
Trade payables¥165.3B¥160.8B¥164.1B¥173.5B¥175.9B
Short-term borrowings¥15B¥10B¥10.2B¥14.3B¥21.4B
Long-term borrowings——¥20.8B¥86.3B¥83.8B
Bonds——¥20B¥20B¥20B
Interest-bearing debt——¥51Bderived¥120.6Bderived¥125.3Bderived
Total liabilities¥488.6B¥491.2B¥589.8B¥667.1B¥698.1B
Non-controlling interests¥7.69B¥6.05B¥6.22B¥11.1B¥11B
Equity attributable to owners of parent¥579B¥598.1B¥569.3B¥560.4B¥541.5B
Retained earnings¥464.5B¥473.9B¥448.1B¥470.2B¥470.3B
Treasury stock-¥49.6B-¥39.8B-¥42.9B-¥73.9B-¥92.8B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第161期(2025/04/01－2026/03/31)

    ID S100YAYL2026-06-12Open

  • EDINET (FSA Japan)

    有価証券報告書－第160期(2024/04/01－2025/03/31)

    ID S100VXJ42025-06-13Open

  • EDINET (FSA Japan)

    有価証券報告書－第159期(2023/04/01－2024/03/31)

    ID S100TM6Q2024-06-14Open

  • EDINET (FSA Japan)

    有価証券報告書－第158期(2022/04/01－2023/03/31)

    ID S100QYKD2023-06-16Open

  • EDINET (FSA Japan)

    有価証券報告書－第157期(令和3年4月1日－令和4年3月31日)

    ID S100O90Q2022-06-17Open

  • EDINET (FSA Japan)

    有価証券報告書－第156期(令和2年4月1日－令和3年3月31日)

    ID S100LK4W2021-06-18Open

Extracted from XBRL: 53 / Derived from other figures: 2

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