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Definitive Analysis

Financial Statements

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Ticker

Industry

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Page: Company Financials

Applied Technology Co., Ltd.

Ticker: 4356.T | Industry: Information Technology Services | Sector: Technology
$1,851.00 -12.00 (-0.64%)
As of: 2026-01-23

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Enterprise Value

Metric 2025 2024 2023 2022
Stock Price 1,568.00 1,514.50 1,723.25 1,938.50
Market Capitalization 8,952.76M 8,647.30M 9,839.52M 11,068.27M
(-) Cash & Equivalents 4,271.59M 2,392.82M 557.98M 3,094.35M
(+) Total Debt 0.00M 0.00M 0.00M 0.00M
Enterprise Value 4,681.17M 6,254.49M 9,281.54M 7,973.92M

Income Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Revenue 7,657M 7,579M 7,838M 7,419M 7,076M 6,447M 4,800M 4,317M
Cost of Revenue 5,558M 5,441M 5,832M 5,258M 5,057M 4,665M 3,380M 2,924M
Gross Profit 2,099M 2,138M 2,006M 2,162M 2,018M 1,782M 1,420M 1,392M
Gross Profit Margin 27.4% 28.2% 25.6% 29.1% 28.5% 27.6% 29.6% 32.3%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 1,076M 255M 35M 46M 37M 20M 23M 710M
Operating Expenses 1,076M 1,136M 1,068M 1,184M 1,062M 874M 734M 743M
Operating Income (EBIT) 1,023M 1,002M 938M 978M 956M 908M 686M 650M
Operating Income Margin 13.4% 13.2% 12.0% 13.2% 13.5% 14.1% 14.3% 15.1%
Interest Income 22M 14M 18M 12M 11M 10M 7M 7M
Interest Expense 0M 0M 0M 0M 0M 0M 0M 0M
Net Interest Income 22M 14M 18M 12M 11M 10M 7M 7M
Unusual Items 56M 52M 43M 64M 61M 105M 1M -3M
EBT Excluding Unusual Items 1,046M 1,016M 956M 990M 967M 918M 694M 657M
Pre-Tax Income 1,102M 1,068M 999M 1,055M 1,028M 1,023M 694M 654M
Pre-Tax Margin 14.4% 14.1% 12.7% 14.2% 14.5% 15.9% 14.5% 15.2%
Income Tax Expense 301M 333M 273M 339M 292M 312M 220M 183M
Net Income 801M 736M 726M 716M 736M 711M 475M 471M
Net Income Margin 10.5% 9.7% 9.3% 9.7% 10.4% 11.0% 9.9% 10.9%
Depreciation & Amortization 51M 39M 51M 56M 54M 60M 53M 46M
EBITDA 1,074M 1,041M 989M 1,034M 1,010M 968M 740M 696M
EBITDA Margin 14.0% 13.7% 12.6% 13.9% 14.3% 15.0% 15.4% 16.1%
NOPAT 744M 690M 681M 664M 685M 631M 469M 468M
NOPAT Margin 9.7% 9.1% 8.7% 8.9% 9.7% 9.8% 9.8% 10.8%
Owner's Earnings 852M 775M 733M 719M 763M 734M 460M 467M
Owner's Earnings Margin 11.1% 10.2% 9.4% 9.7% 10.8% 11.4% 9.6% 10.8%
EPS (Basic) 140.21 128.87 127.09 125.41 128.97 124.53 83.12 82.53
EPS (Diluted) 140.21 128.87 127.09 125.41 128.97 124.53 83.12 82.53
Shares (Basic) 6M 6M 6M 6M 6M 6M 6M 6M
Shares (Diluted) 6M 6M 6M 6M 6M 6M 6M 6M

Balance Sheet

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Cash & Cash Equivalents 4,765.53M 3,777.65M 626.22M 489.31M 469.61M 486.15M 602.96M 1,913.87M
Short-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 4,765.53M 3,777.65M 626.22M 489.31M 469.61M 486.15M 602.96M 1,913.87M
Net Receivables 2,111.37M 2,795.94M 2,401.70M 2,510.38M 2,039.14M 1,005.81M 544.00M 344.07M
Inventory 6.02M 13.77M 25.14M 5.38M 96.50M 790.42M 810.17M 693.17M
Other Current Assets 44.22M 15.63M 125.71M 54.49M 20.06M 9.96M 14.34M -1,582.48M
Total Current Assets 6,927.14M 6,602.98M 3,178.78M 3,059.56M 2,625.31M 2,292.33M 1,971.47M 1,368.63M
Property, Plant & Equipment 131.37M 133.74M 129.66M 130.13M 94.24M 112.57M 123.74M 110.53M
Goodwill 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 22.58M 23.83M 26.18M 38.44M 35.96M 45.10M 51.75M 50.30M
Long-Term Investments 0.00M 0.00M 0.20M 0.20M 23.60M 22.00M 22.02M 26.51M
Tax Assets 283.44M 287.87M 296.95M 236.47M 202.66M 159.57M 77.27M 79.90M
Other Non-Current Assets 129.31M 126.89M 126.79M 127.55M 109.23M 111.40M 108.68M 103.46M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.01M 0.00M
Total Non-Current Assets 566.69M 572.32M 579.78M 532.80M 465.70M 450.64M 383.46M 370.69M
Total Assets 7,493.83M 7,175.30M 3,758.56M 3,592.35M 3,091.01M 2,742.97M 2,354.92M 1,739.33M
Accounts Payable 447.38M 615.50M 609.20M 500.76M 463.17M 420.69M 316.46M 196.83M
Short-Term Debt 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Payables 0.00M 0.00M 167.33M 319.40M 265.15M 424.99M 233.24M 143.75M
Deferred Revenue 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 952.57M 555.45M 698.13M 781.87M 520.31M 592.81M 507.56M 432.48M
Total Current Liabilities 1,399.95M 1,170.95M 1,474.66M 1,602.03M 1,248.62M 1,438.49M 1,057.26M 773.06M
Long-Term Debt 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Capital Lease Obligations 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Tax Liabilities 0.00M 0.00M 18.28M 19.81M 9.68M 10.78M 0.00M 12.28M
Other Non-Current Liabilities 90.84M 90.95M 90.81M 90.24M 56.46M 56.10M 54.58M 49.09M
Total Non-Current Liabilities 90.84M 90.95M 109.09M 110.05M 66.14M 66.88M 54.58M 61.37M
Total Liabilities 1,490.78M 1,261.90M 1,583.75M 1,712.08M 1,314.76M 1,505.37M 1,111.84M 834.43M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 600.00M 600.00M 600.00M 600.00M 600.00M 600.00M 600.00M 600.00M
Retained Earnings 4,813.05M 4,661.92M 4,460.30M 3,967.31M 3,395.42M 2,593.04M 1,939.10M 1,517.32M
Accumulated OCI 0.00M 0.00M 61.38M 44.25M 26.40M 15.25M 10.70M 9.22M
Minority Interest 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Shareholders’ Equity 5,413.05M 5,261.92M 5,121.68M 4,611.56M 4,021.82M 3,208.29M 2,549.81M 2,126.53M
Total Equity 5,413.05M 5,261.92M 5,121.68M 4,611.56M 4,021.82M 3,208.29M 2,549.81M 2,126.53M
Total Liabilities & Equity 6,903.83M 6,523.82M 6,705.43M 6,323.64M 5,336.57M 4,713.66M 3,661.64M 2,960.96M
Tangible Assets 7,471.25M 7,151.47M 3,732.38M 3,553.92M 3,055.05M 2,697.87M 2,303.17M 1,689.03M
Tangible Equity 5,390.47M 5,238.09M 5,095.50M 4,573.12M 3,985.85M 3,163.19M 2,498.05M 2,076.24M
Tangible Book Value 5,390.47M 5,238.09M 5,095.50M 4,573.12M 3,985.85M 3,163.19M 2,498.05M 2,076.24M
Total Investments 0.00M 0.00M 0.20M 0.20M 23.60M 22.00M 22.02M 26.51M
Net Debt -4,765.53M -3,777.65M -626.22M -489.31M -469.61M -486.15M -602.96M -1,913.87M

Capital Metrics

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Working Capital 5,324.5M 5,167.9M 5,020.0M 4,512.1M 3,999.9M 3,185.6M 2,599.1M 2,205.7M
Total Capital 5,800.4M 5,649.2M 5,509.0M 4,954.7M 4,409.2M 3,580.1M 2,928.0M 2,515.0M
Capital Employed 5,891.2M 5,740.2M 5,599.8M 5,044.9M 4,465.6M 3,636.2M 2,982.6M 2,576.4M
Invested Capital 1,034.8M 1,871.6M 4,882.8M 4,465.4M 3,939.6M 3,093.9M 2,325.1M 601.1M

Cash Flow Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Net Income 0.00M 0.00M 998.84M 716.06M 736.39M 711.04M 474.61M 471.27M
Depreciation & Amortization 0.00M 0.00M 50.86M 55.64M 53.82M 60.25M 55.39M 45.93M
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 46.79M -165.91M -79.12M -245.38M -115.98M 70.72M
Accounts Receivable 0.00M 0.00M 83.88M -471.24M -11.75M -461.81M -199.93M 71.08M
Inventory 0.00M 0.00M -19.76M 91.12M -83.34M 19.76M -117.00M -94.63M
Accounts Payable 0.00M 0.00M 108.44M 37.59M 42.47M 104.23M 119.63M 71.58M
Other Working Capital 0.00M 0.00M -125.77M 176.62M -26.51M 92.45M 81.32M 22.69M
Other Non-Cash Items 0.00M 0.00M -345.97M -75.07M -184.64M 56.21M 4.58M 11.16M
Net Cash from Operating Activities 0.00M 0.00M 750.52M 530.71M 526.45M 582.12M 418.59M 599.08M
Capital Expenditures (PPE) 0.00M 0.00M -32.51M -52.76M -27.08M -37.66M -67.80M -50.04M
Acquisitions (Net) 0.00M 0.00M 0.00M 0.00M 0.04M 0.00M 0.00M 0.00M
Purchases of Investments 0.00M 0.00M 0.00M -0.88M -1.98M -1.66M -1.60M -1.56M
Sales / Maturities of Investments 0.00M 0.00M 0.00M 31.66M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities 0.00M 0.00M -10.65M -18.31M -0.36M -1.97M -3.06M -21.15M
Net Cash from Investing Activities 0.00M 0.00M -43.16M -40.28M -29.38M -41.30M -72.46M -72.75M
Net Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Long-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance 0.00M 0.00M -0.04M 0.00M -0.15M -0.69M -0.25M 0.00M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Repurchased 0.00M 0.00M -0.04M 0.00M -0.15M -0.69M -0.25M 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 -170.41M -170.73M -113.45M -56.94M -56.80M -28.32M
Common Dividends Paid 0.00M 0.00M -170.41M -170.73M -113.45M -56.94M -56.80M -28.32M
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 0.00M 0.00M 0.00M
Net Cash from Financing Activities 0.00M 0.00M -170.45M -170.73M -113.60M -57.64M -57.05M -28.32M
Effect of FX on Cash 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Change in Cash 0.00M 0.00M 536.91M 319.70M 383.46M 483.19M 289.09M 498.01M
Cash at Beginning of Period 0.00M 0.00M 3,389.31M 3,069.61M 2,686.15M 2,202.96M 1,913.87M 1,415.87M
Cash at End of Period 0.00M 0.00M 3,926.22M 3,389.31M 3,069.61M 2,686.15M 2,202.96M 1,913.87M
Operating Cash Flow 0.00M 0.00M 750.52M 530.71M 526.45M 582.12M 418.59M 599.08M
Capital Expenditure 0.00M 0.00M -43.15M -52.76M -27.08M -37.66M -67.80M -50.04M
Free Cash Flow 0.00M 0.00M 707.37M 477.95M 499.36M 544.46M 350.79M 549.04M

Free Cash Flow

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
EBITDA 0.00M 0.00M 2,022.18M 2,171.73M 2,035.39M 1,822.00M 1,450.08M 727.83M
(-) Tax Adjustment 0.00M 0.00M 553.06M 697.58M 577.98M 555.39M 459.07M 203.43M
(-) Change In Working Capital 0.00M 0.00M 46.79M -165.91M -79.12M -245.38M -115.98M 70.72M
(-) Capital Expenditure 0.00M 0.00M -43.15M -52.76M -27.08M -37.66M -67.80M -50.04M
Unlevered Free Cash Flow 0.00M 0.00M 1,379.18M 1,587.31M 1,509.45M 1,474.33M 1,039.18M 403.63M
(-) Net Interest Income After Taxes 0.00M 0.00M 13.28M 8.29M 7.96M 6.64M 4.85M 5.34M
Net Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Levered Free Cash Flow 0.00M 0.00M 1,365.90M 1,579.02M 1,501.48M 1,467.69M 1,034.34M 398.30M