DAILY JOURNAL CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data DAILY JOURNAL CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	41.6	41.4	40.7	48.7	49.9	49.9	54	67.7	69.9	87.7
Operating expenses	48.3	54.6	54.8	66.9	51.2	47.8	52	61.1	65.9	78.2
Operating income	-6.64	-13.2	-14.1	-18.2	-1.28	2.15	1.99	6.65	4.07	9.53
Interest income	4.09	4.84	4.81	5.38	4.97	2.91	5.45	8.34	7.1	7.46
Other non-operating income	0.06	0.03	0.04	0.04	0	0.07
Pre-tax income	-2.98	-8.07	-11.3	-31.5	4.23	153	-103	28.1	104	150
Income tax	-1.94	-7.15	-19.5	-6.26	0.19	40.2	-26.9	6.65	26.2	38
Net income	-1.04	-0.92	8.2	-25.2	4.04	113	-21.5	21.5	78.1	112
EBITDA	-0.93	-7.58	-10.4	-17.6	-0.76	2.63	2.37	6.93	4.34	9.79
EPS, basic	-0.76	-0.66	5.94	-18.26	2.93	81.77	-54.81	15.58	56.73	81.41
EPS, diluted	-0.76	-0.66	5.94	-18.26	2.93	81.77	-54.81	15.58	56.73	81.41
Shares, basic (weighted)	1.38	1.38	1.38	1.38	1.38	1.38	1.38	1.38	1.38	1.38
Shares, diluted (weighted)	1.38	1.38	1.38	1.38	1.38	1.38	1.38	1.38	1.38	1.38

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	11.4	3.38	9.3	8.62	26.9	12.6	13.4	20.8	13	20.6
Short-term investments		229	212	195	179	348	276	303	359	493
Receivables	4.71	5.36	4.8	7.04	6.73	9.52	16.9	18.7	19.2	21
Inventory	0.04	0.04	0.05	0.04	0.04	0.04	0.06	0.07	0.02
Other current assets	0.8	0.8	0.51	0.51	0.61	0.56	0.45	0.38	0.66	0.96
Total current assets	184	240	227	213	216	372	309	345	394	538
Property, plant and equipment	12.1	11.6	11.2	10.8	10.5	10	9.55	9.36	9.27	8.93
Lease right-of-use assets				0	0.14	0.22	0.1	0.1	0.13	0.04
Goodwill	13.4	13.4	13.4
Intangible assets	7.95	3.06
Total assets	225	281	264	237	239	383	319	355	404	548
Accounts payable	2.64	3.05	2.82	4.52	3.93	4.24	5.06	6.64	6.05	7.07
Accrued liabilities	2.58	3.11	4.4	5.17	5.01	6.05	7.07	8.79	8.52	12.5
Deferred revenue									23.7	18.2
Total current liabilities	64.9	24.1	27.3	30.7	28	34	33.6	42.2	38.4	38.8
Lease liabilities								0.04	0.04
Total liabilities	100	121	101	99.7	96.8	128	140	154	125	157
Paid-in capital	1.76	1.76	1.76	1.76	1.76	1.76	1.76	1.76	1.96	2.1
Retained earnings	58.1	57.2	45.4	136	140	253	177	199	277	389
Other comprehensive income	65.5	101	116							0
Shareholders' equity	125	160	163	138	142	255	179	200	279	391
Total equity	125	160	163	138	142	255	179	200	279	391
Total liabilities and equity	225	281	264	237	239	383	319	355	404	548
Shares outstanding							1.38		1.81	1.38

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-1.04	-0.92	8.2	-25.2	4.04	113	-21.5	21.5	78.1	112
Depreciation and amortization	5.71	5.59	3.68	0.59	0.52	0.48	0.38	0.28	0.27	0.26
Stock-based compensation									0.2	0.14
Deferred income tax	-1.64	-4.57	-19.2	-6.39	0.59	31.9	-30.8	5.33	22	34.7
Change in receivables	0.97	-0.65	0.56	-2.23	0.31	-2.8	-7.41	-1.76	-0.53	-1.79
Change in inventory	0.01	0	-0.01	0.01	0	-0.01	-0.01	-0.02	0.06
Change in payables	-1.57	0.41	-0.23	1.7	-0.59	0.31	0.82	1.58	-0.59	1.02
Cash from operations	1.22	-2.65	-1.88	1.62	2.34	3.29	-5.26	15.1	-0.09	13.3
Capital expenditures	-3.78	-0.25	-0.21	-0.17	-0.18	-0.03	-0.04	-0.09	-0.05	-0.01
Purchases of investments	-3.83	-5.01				-65	-118	-10
Sales and maturities of investments			8.13
Cash from investing	-7.61	-5.27	7.91	-0.17	16.1	-20	-36.8	-7.26	40.5	-0.01
Debt issued				0	1	17	43	6.01
Debt repaid								-6.01
Cash from financing	2.18	-0.11	-0.12	-0.12	-0.13	2.38	42.9	-0.15	-47.7	-5.66
Net change in cash	-4.21	-8.03	5.92	1.33	18.3	-14.3	0.83	7.67	-7.21	7.66
Free cash flow	-2.56	-2.9	-2.09	1.45	2.15	3.26	-5.3	15	-0.14	13.3
Interest paid	0.36	0.52	0.74	0.96	0.53	0.33	1.05	4.27	3.05	1.38
Income taxes paid	-0.01	-0	-1.08	-0.12	-0.05	1.95	11.1	0.81	5.13	2.25

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $656.86 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	13.7%	Operating income / revenue.
EBITDA margin	13.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-17.8%	Pre-tax income / revenue.
Net margin	-11.6%	Net income / revenue.
FCF margin	17.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	17.9%	Cash from operations / revenue.
Return on equity (ROE)	-3.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-2.4%	Net income / average total assets.
Return on invested capital (ROIC)	3.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.2%	Capital expenditures / revenue.
D&A / revenue	0.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	25.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	17.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	11.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	134.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	68.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	125.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	60.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	43.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	94.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	43.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	94.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	41.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	44.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	40.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	29.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	22.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	35.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	19.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	18.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	11.6x	Current assets / current liabilities.
Quick ratio	11.4x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	11.0x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	28.4%	Total liabilities / total assets.
Working capital	$424.1M	Current assets - current liabilities.
Tangible book value	$337.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.21x	Revenue / average total assets.
Fixed asset turnover	17.2x	Revenue / average property, plant and equipment.
Receivables turnover	5.46x	Revenue / average receivables.
Days sales outstanding	67 days	365 x average receivables / revenue.
Capex / operating cash flow	0.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$8.24	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$70.87	Revenue / diluted weighted shares.
FCF per share	$12.55	Free cash flow / diluted weighted shares.
Operating cash flow per share	$12.67	Cash from operations / diluted weighted shares.
Book value per share	$245.08	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$245.08	Tangible book value / shares outstanding.
Cash per share	$317.25	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$905.1M	Share price x shares outstanding.
Enterprise value	$468.0M	Market cap + total debt - cash - short-term investments.
P/S	9.27x	Market cap / revenue.
P/B	2.68x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.68x	Market cap / tangible book value, when positive.
P/FCF	52.3x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	51.9x	Market cap / cash from operations, when positive.
EV/Sales	4.79x	Enterprise value / revenue.
EV/EBIT	35.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	34.6x	Enterprise value / EBITDA, when both are positive.
EV/FCF	27.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	1.9%	Free cash flow / market cap.
Earnings yield	-1.3%	Net income / market cap (the inverse of P/E).

What was DAILY JOURNAL CORP's revenue in fiscal 2025?

DAILY JOURNAL CORP reported revenue of $87.7M for fiscal 2025, 25.4% higher than the year before.

Was DAILY JOURNAL CORP profitable in fiscal 2025?

Yes. Net income was $112.1M, a net margin of 127.9%.

How much free cash flow did DAILY JOURNAL CORP generate in fiscal 2025?

Cash from operations of $13.3M minus capital expenditures of $8.0K left free cash flow of $13.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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