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Definitive Analysis

Financial Statements

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Ticker

Industry

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Page: Company Financials

Ekitan & Co., Ltd.

Ticker: 3646.T | Industry: Internet Content & Information | Sector: Communication Services
$338.00 +1.00 (0.30%)
As of: 2026-01-28

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Enterprise Value

Metric 2025 2024 2023 2022
Stock Price 361.00 395.25 412.00 467.00
Market Capitalization 1,704.37M 1,896.10M 1,997.12M 2,494.50M
(-) Cash & Equivalents 1,260.16M 1,311.72M 1,411.41M 1,672.68M
(+) Total Debt 270.85M 324.74M 285.38M 100.00M
Enterprise Value 715.05M 909.11M 871.09M 921.82M

Income Statement

Metric TTM TTM-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
Revenue 3,352M 3,898M 3,500M 4,038M 3,206M 2,891M 1,948M 2,865M
Cost of Revenue 2,254M 2,737M 2,343M 2,863M 2,260M 1,911M 821M 1,170M
Gross Profit 1,098M 1,161M 1,156M 1,175M 947M 980M 1,127M 1,695M
Gross Profit Margin 32.8% 29.8% 33.0% 29.1% 29.5% 33.9% 57.9% 59.2%
R&D Expenses 0M 0M 0M 0M 1M 1M 1M 3M
SG&A Expenses 1,011M 1,115M 1,039M 1,151M 841M 841M 938M 1,353M
Operating Expenses 1,012M 1,114M 1,039M 1,151M 841M 842M 939M 1,356M
Operating Income (EBIT) 86M 47M 117M 24M 105M 139M 188M 339M
Operating Income Margin 2.6% 1.2% 3.3% 0.6% 3.3% 4.8% 9.7% 11.8%
Interest Income 1M 3M 2M 4M 1M 1M 1M 0M
Interest Expense 4M 3M 4M 2M 1M 1M 1M 0M
Net Interest Income -3M 0M -2M 1M 0M 0M 0M 0M
Unusual Items 40M -857M 42M -864M 18M 2M 18M -135M
EBT Excluding Unusual Items 83M 48M 115M 25M 105M 139M 188M 339M
Pre-Tax Income 123M -809M 157M -839M 123M 141M 207M 204M
Pre-Tax Margin 3.7% -20.8% 4.5% -20.8% 3.8% 4.9% 10.6% 7.1%
Income Tax Expense 99M -98M 99M -104M 33M 61M 82M 180M
Net Income 24M -713M 58M -736M 90M 80M 124M 23M
Net Income Margin 0.7% -18.3% 1.7% -18.2% 2.8% 2.8% 6.4% 0.8%
Depreciation & Amortization 106M 124M 76M 161M 192M 181M 61M 90M
EBITDA 191M 171M 193M 185M 297M 319M 250M 429M
EBITDA Margin 5.7% 4.4% 5.5% 4.6% 9.3% 11.0% 12.8% 15.0%
NOPAT 17M 37M 43M 19M 77M 79M 113M 39M
NOPAT Margin 0.5% 1.0% 1.2% 0.5% 2.4% 2.7% 5.8% 1.4%
Owner's Earnings 129M -590M 123M -697M 35M 197M 102M 36M
Owner's Earnings Margin 3.9% -15.1% 3.5% -17.3% 1.1% 6.8% 5.2% 1.2%
EPS (Basic) 5.01 -147.28 12.15 -152.02 17.04 14.56 22.56 4.26
EPS (Diluted) 5.02 -147.37 12.15 -152.02 17.04 14.56 22.56 4.25
Shares (Basic) 5M 5M 5M 5M 5M 6M 6M 5M
Shares (Diluted) 5M 5M 5M 5M 5M 6M 6M 6M

Balance Sheet

Metric MRQ MRQ-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
Cash & Cash Equivalents 1,259.43M 1,260.90M 1,260.90M 1,368.89M 1,424.98M 2,079.58M 2,584.50M 2,418.00M
Short-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 1,259.43M 1,260.90M 1,260.90M 1,368.89M 1,424.98M 2,079.58M 2,584.50M 2,418.00M
Net Receivables 371.45M 523.75M 523.75M 582.35M 388.40M 321.14M 252.87M 427.62M
Inventory 3.98M 5.21M 5.21M 18.11M 14.63M 2.24M 2.10M 1.00M
Other Current Assets 54.56M 44.00M 44.00M 140.45M 40.57M 19.74M 25.30M 46.00M
Total Current Assets 1,689.42M 1,833.86M 1,833.86M 2,109.80M 1,868.57M 2,422.70M 2,864.78M 2,892.62M
Property, Plant & Equipment 55.96M 58.35M 58.35M 72.24M 60.98M 70.96M 94.16M 102.00M
Goodwill 133.27M 140.21M 140.21M 131.91M 451.24M 415.89M 2.59M 4.00M
Intangible Assets 298.92M 265.00M 265.00M 195.09M 688.67M 542.44M 155.03M 125.00M
Long-Term Investments 146.00M 29.51M 29.51M 42.47M 18.70M 18.70M 18.70M 144.00M
Tax Assets 0.00M 32.55M 32.55M 73.10M 21.82M 25.20M 22.84M 32.15M
Other Non-Current Assets 0.80M 101.49M 101.49M 110.56M 42.96M 45.62M 122.08M -6.15M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 634.96M 627.12M 627.12M 625.37M 1,284.37M 1,118.81M 415.41M 401.00M
Total Assets 2,324.38M 2,460.98M 2,460.98M 2,735.17M 3,152.95M 3,541.51M 3,280.19M 3,293.62M
Accounts Payable 145.91M 171.31M 171.31M 231.27M 247.39M 167.83M 54.17M 56.48M
Short-Term Debt 68.42M 72.71M 72.71M 75.85M 9.16M 0.00M 1.24M 18.00M
Tax Payables 0.00M 0.00M 0.00M 18.62M 13.24M 47.65M 37.16M 40.52M
Deferred Revenue 0.00M 0.00M 0.00M 37.63M 49.29M 0.00M 69.29M 0.00M
Other Current Liabilities 276.92M 196.83M 196.83M 251.61M 105.26M 175.71M 85.90M 279.74M
Total Current Liabilities 491.25M 440.85M 440.85M 614.98M 424.35M 391.19M 247.76M 394.74M
Long-Term Debt 190.47M 210.09M 210.09M 292.09M 90.84M 100.00M 100.00M 0.00M
Capital Lease Obligations 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1.24M 2.56M
Deferred Tax Liabilities 7.69M 8.00M 8.00M 9.31M 119.58M 125.53M 5.23M 6.80M
Other Non-Current Liabilities 40.79M 50.57M 50.57M 66.75M 16.41M 73.31M 83.09M 96.00M
Total Non-Current Liabilities 238.95M 268.65M 268.65M 368.15M 226.83M 298.84M 189.57M 105.36M
Total Liabilities 730.20M 709.51M 709.51M 983.13M 651.18M 690.03M 437.32M 500.10M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 291.96M 291.96M 291.96M 291.96M 291.96M 291.96M 291.96M 291.00M
Retained Earnings 1,566.32M 1,684.05M 1,684.05M 1,693.92M 2,498.08M 2,926.67M 2,923.60M 2,878.00M
Accumulated OCI -0.07M 0.38M 0.38M 2.86M 0.00M 1.00M 1.00M 1.00M
Minority Interest 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Shareholders’ Equity 1,858.21M 1,976.39M 1,976.39M 1,988.73M 2,790.03M 3,219.63M 3,216.55M 3,170.00M
Total Equity 1,858.21M 1,976.39M 1,976.39M 1,988.73M 2,790.03M 3,219.63M 3,216.55M 3,170.00M
Total Liabilities & Equity 2,588.41M 2,685.89M 2,685.89M 2,971.86M 3,441.21M 3,909.66M 3,653.88M 3,670.10M
Tangible Assets 1,892.19M 2,055.77M 2,055.77M 2,408.17M 2,013.04M 2,583.18M 3,122.56M 3,164.62M
Tangible Equity 1,426.01M 1,571.18M 1,571.18M 1,661.73M 1,650.12M 2,261.30M 3,058.93M 3,041.00M
Tangible Book Value 1,426.01M 1,571.18M 1,571.18M 1,661.73M 1,650.12M 2,261.30M 3,058.93M 3,041.00M
Total Investments 146.00M 29.51M 29.51M 42.47M 18.70M 18.70M 18.70M 144.00M
Net Debt -1,000.53M -978.10M -978.10M -1,000.95M -1,324.98M -1,979.58M -2,483.26M -2,400.00M

Capital Metrics

Metric MRQ MRQ-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
Working Capital 1,137.2M 1,291.1M 1,291.1M 1,442.8M 1,430.4M 2,019.0M 2,603.6M 2,462.0M
Total Capital 1,792.1M 1,932.3M 1,932.3M 2,068.0M 2,588.0M 2,938.9M 2,937.1M 2,786.0M
Capital Employed 1,772.2M 1,918.2M 1,918.2M 2,068.2M 2,714.8M 3,137.8M 3,019.0M 2,863.0M
Invested Capital 532.7M 671.4M 671.4M 699.1M 1,163.0M 859.4M 352.6M 368.0M

Cash Flow Statement

Metric TTM TTM-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
Net Income 24.00M -713.00M 57.92M -839.42M 38.00M 80.00M 124.00M 23.00M
Depreciation & Amortization 0.00M 0.00M 75.82M 161.04M 191.77M 180.50M 61.47M 89.00M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital 0.00M 0.00M -72.64M -23.02M -137.99M 98.75M 21.27M 44.00M
Accounts Receivable 0.00M 0.00M 51.21M 16.00M -0.58M -68.00M 174.00M 87.00M
Inventory 0.00M 0.00M 12.90M 5.56M -12.39M -0.13M -0.96M 1.00M
Accounts Payable 0.00M 0.00M -38.63M -39.90M -4.00M 114.05M -43.36M -59.64M
Other Working Capital 0.00M 0.00M -98.11M -4.69M -121.03M 52.99M -108.00M 0.00M
Other Non-Cash Items -24.00M 713.00M 91.70M 843.35M -28.57M -13.77M 20.23M 127.00M
Net Cash from Operating Activities 0.00M 0.00M 152.80M 141.94M 63.21M 345.49M 226.96M 283.00M
Capital Expenditures (PPE) 0.00M 0.00M -107.48M -32.00M -247.04M -63.24M -83.96M -78.00M
Acquisitions (Net) 0.00M 0.00M -46.16M -65.10M -20.76M -730.00M 0.00M -64.00M
Purchases of Investments 0.00M 0.00M -15.71M -18.66M 0.00M 0.00M 0.00M -5.00M
Sales / Maturities of Investments 0.00M 0.00M 58.68M 32.91M 0.00M 0.00M 9.00M 6.01M
Other Investing Activities 0.00M 0.00M 62.56M -78.46M 2.25M 20.81M -1.61M -29.01M
Net Cash from Investing Activities 0.00M 0.00M -48.11M -161.30M -265.56M -772.43M -76.58M -170.00M
Net Debt Issuance 0.00M 0.00M -101.00M -13.42M 0.00M 0.00M 81.33M -18.00M
Long-Term Debt Issuance 0.00M 0.00M -101.00M -8.42M 0.00M 0.00M 81.33M -17.00M
Short-Term Debt Issuance 0.00M 0.00M -0.01M -5.00M 0.00M 0.00M 0.00M -1.00M
Net Stock Issuance 0.00M 0.00M -50.57M 0.00M -375.33M 0.00M 0.00M 17.38M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 17.38M
Common Stock Repurchased 0.00M 0.00M -50.57M 0.00M -375.33M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid 0.00M 0.00M -67.41M -67.63M -76.92M -76.75M -55.09M -109.40M
Common Dividends Paid 0.00M 0.00M -67.41M -67.63M -76.92M -76.75M -55.09M -109.40M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities 0.00M 0.00M 0.00M 0.00M 0.00M -1.24M -1.32M -0.98M
Net Cash from Financing Activities 0.00M 0.00M -218.98M -81.05M -452.25M -77.99M 24.92M -111.00M
Effect of FX on Cash 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -0.22M 0.62M
Net Change in Cash 0.00M 0.00M -114.29M -100.41M -654.59M -504.93M 175.09M 2.62M
Cash at Beginning of Period 0.00M 0.00M 1,324.58M 1,424.98M 2,079.58M 2,584.50M 2,409.41M -2.00M
Cash at End of Period 0.00M 0.00M 1,210.29M 1,324.58M 1,424.98M 2,079.58M 2,584.50M 0.62M
Operating Cash Flow 0.00M 0.00M 152.80M 141.94M 63.21M 345.49M 226.96M 283.00M
Capital Expenditure 0.00M 0.00M -11.14M -121.43M -247.04M -63.24M -83.96M -78.00M
Free Cash Flow 0.00M 0.00M 141.66M 20.51M -183.83M 282.26M 143.00M 205.00M

Free Cash Flow

Metric TTM TTM-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
EBITDA 192.05M 169.83M 192.70M 184.67M 296.41M 318.91M 249.58M 429.25M
(-) Tax Adjustment 67.22M 20.50M 67.44M 22.93M 79.99M 111.62M 87.35M 150.24M
(-) Change In Working Capital 0.00M 0.00M -72.64M -23.02M -137.99M 98.75M 21.27M 44.00M
(-) Capital Expenditure 0.00M 0.00M -11.14M -121.43M -247.04M -63.24M -83.96M -78.00M
Unlevered Free Cash Flow 124.83M 149.33M 186.75M 63.33M 107.37M 45.30M 57.00M 157.01M
(-) Net Interest Income After Taxes -1.74M 0.34M -1.48M 1.18M 0.02M 0.01M -0.04M -0.09M
Net Debt Issuance 0.00M 0.00M -101.00M -13.42M 0.00M 0.00M 81.33M -18.00M
Levered Free Cash Flow 126.57M 148.99M 87.23M 48.72M 107.35M 45.29M 138.37M 139.10M