LEAD REAL ESTATE CO., LTD financial statements

Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data LEAD REAL ESTATE CO., LTD files with the SEC in its annual reports.

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

Income statement

	FY2021	FY2023	FY2023	FY2024	FY2025
Revenue	11,255	14,687	17,415	18,951	18,843
Selling, general and administrative	1,033	1,704	1,818	2,051	2,254
Operating expenses	10,802	13,800	16,476	18,052	17,368
Operating income	454	887	939	899	1,475
Interest expense	56.7	23.3	16.7	18.3	44.5
Other non-operating income	-66.4	-48.9	-10.5	55.5	-80.4
Pre-tax income	387	838	929	954	1,395
Income tax	135	287	317	328	548
Net income to minority interests	-27.1	-0.37	-0.52	-0.79	-0.56
Net income	279	552	612	627	847
EBITDA	491	930	1,022	1,001	1,585
EPS, basic	22.30	44.15	48.96	46.93	62.07
EPS, diluted	22.30	44.15	48.96	46.93	62.07
Shares, basic (weighted)	12.5	12.5	12.5	13.4	13.6
Shares, diluted (weighted)	12.5	12.5	12.5	13.4	13.6

Balance sheet

	FY2021	FY2023	FY2023	FY2024	FY2025
Cash and equivalents	480	403	786	1,301	2,657
Receivables		261	6.61	22.9	38.5
Other current assets		266	299	494	382
Total current assets		9,776	11,919	11,322	13,353
Property, plant and equipment		2,049	3,236	5,449	5,796
Lease right-of-use assets		156	204	155	821
Long-term investments		31.7	7.87	20.8	25.3
Other non-current assets		272	186	171	327
Total assets		12,417	15,736	17,217	20,480
Accounts payable		602	733	602	1,036
Accrued liabilities			45.4	55.9	59.5
Deferred revenue		256	261	130	337
Total current liabilities		7,613	7,124	7,972	9,939
Long-term debt		2,232	5,438	4,598	4,558
Lease liabilities		148	137	91.5	622
Other non-current liabilities		156	240	233	241
Total liabilities		10,216	12,973	12,980	15,449
Retained earnings		2,001	2,558	3,160	3,966
Treasury stock		-154	-154	-154	-154
Minority interests		-6.24	-6.77	-7.56	-8.46
Total equity	1,561	2,146	2,763	4,237	5,031
Total liabilities and equity		12,417	15,736	17,217	20,480
Shares outstanding		12.5	12.5	13.6	13.6

Cash flow statement

	FY2021	FY2023	FY2023	FY2024	FY2025
Net income	252	551	611	626	846
Depreciation and amortization	37.3	43.4	82.9	103	110
Deferred income tax	6.77	-7.5	3.33	51	4.42
Change in receivables	245	5.48	-3.3	-16.2	-15.7
Change in inventory	-592	-3,012	-1,569	1,122	1,205
Change in payables	181	-607	50.7	-131	434
Cash from operations	-245	-2,598	-920	1,572	3,313
Capital expenditures	-170	-204	-1,250	-2,221	-2,522
Purchases of investments	-10.7	-1.46	-8.15	-15.2	-101
Sales and maturities of investments	42	12	5
Cash from investing	-160	-216	-1,256	-2,243	-2,622
Stock issued	100	14.2		1,187
Dividends paid				-25	-40.9
Cash from financing	556	2,721	2,555	1,177	696
Net change in cash	151	-77.2	383	514	1,356
Free cash flow	-415	-2,802	-2,170	-650	791
Interest paid	194	220	293	352	44.5
Income taxes paid	51.3	212	397	316	309

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Operating margin	7.8%	Operating income / revenue.
EBITDA margin	8.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	7.4%	Pre-tax income / revenue.
Net margin	4.5%	Net income / revenue.
FCF margin	4.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	17.6%	Cash from operations / revenue.
Effective tax rate	39.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	4.5%	Net income / average total assets.
SG&A / revenue	12.0%	Selling, general and administrative expense / revenue.
Capex / revenue	13.4%	Capital expenditures / revenue.
D&A / revenue	0.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-0.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	8.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	64.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	18.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	58.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	19.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	35.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	15.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	32.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	12.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	110.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	18.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	18.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y	2.1%	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	3.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.34x	Current assets / current liabilities.
Quick ratio	0.27x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.27x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	75.4%	Total liabilities / total assets.
Interest coverage	33.1x	Operating income / interest expense.
Working capital	¥3.41B	Current assets - current liabilities.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.00x	Revenue / average total assets.
Fixed asset turnover	3.35x	Revenue / average property, plant and equipment.
Receivables turnover	614x	Revenue / average receivables.
Days sales outstanding	1 days	365 x average receivables / revenue.
FCF conversion	93.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	76.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	¥62.07	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.
EPS, basic	¥62.07	Net income per basic share, as reported (split-adjusted).
Revenue per share	¥1,381.00	Revenue / diluted weighted shares.
FCF per share	¥58.01	Free cash flow / diluted weighted shares.
Operating cash flow per share	¥242.86	Cash from operations / diluted weighted shares.
Cash per share	¥194.76	(Cash + short-term investments) / shares outstanding.
Payout ratio	4.8%	Dividends paid / net income, when net income is positive.
Dividends / FCF	5.2%	Dividends paid / free cash flow, when free cash flow is positive.

What was LEAD REAL ESTATE CO., LTD's revenue in fiscal 2025?

LEAD REAL ESTATE CO., LTD reported revenue of ¥18.84B for fiscal 2025, 0.6% lower than the year before.

Was LEAD REAL ESTATE CO., LTD profitable in fiscal 2025?

Yes. Net income was ¥846.8M, a net margin of 4.5%.

How much free cash flow did LEAD REAL ESTATE CO., LTD generate in fiscal 2025?

Cash from operations of ¥3.31B minus capital expenditures of ¥2.52B left free cash flow of ¥791.3M.

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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