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Financial statementsTAKEDA PHARMACEUTICAL CO LTD financial statements
Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data TAKEDA PHARMACEUTICAL 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
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,732,051 | 1,770,531 | 2,097,224 | 3,291,188 | 3,197,812 | 3,569,006 | 4,027,478 | 4,263,762 | 4,581,551 |
| Cost of revenue | 558,755 | 495,921 | 651,729 | 1,089,764 | 994,308 | 1,106,846 | 1,244,072 | 1,426,678 | 1,580,217 |
| Gross profit | 1,173,296 | 1,274,610 | 1,445,495 | 2,201,424 | 2,203,504 | 2,462,160 | 2,783,406 | 2,837,084 | 3,001,334 |
| Research and development | 312,303 | 325,441 | 368,298 | 492,381 | 455,833 | 526,087 | 633,325 | 729,924 | 730,227 |
| General and administrative | 619,061 | 628,106 | 717,599 | 964,737 | 875,663 | 886,361 | 997,309 | 1,053,819 | 1,104,766 |
| Operating income | 155,867 | 241,789 | 237,685 | 100,408 | 509,269 | 460,844 | 490,505 | 214,075 | 342,586 |
| Interest expense | 23,249 | 31,928 | 83,289 | 165,006 | 248,631 | 166,607 | 169,698 | 219,850 | 210,065 |
| Interest income | 12,274 | 39,543 | 16,843 | 27,831 | 105,521 | 23,700 | 62,913 | 52,093 | 46,549 |
| Pre-tax income | 143,346 | 217,205 | 127,612 | -60,754 | 366,235 | 302,571 | 375,090 | 52,791 | 175,084 |
| Income tax | 27,833 | 30,497 | -7,468 | -105,044 | -9,936 | 72,405 | 58,052 | -91,406 | 66,941 |
| Net income to minority interests | 573 | -178 | -112 | 49 | 166 | 107 | 21 | 130 | 215 |
| Net income | 114,940 | 186,886 | 135,192 | 44,241 | 376,005 | 230,059 | 317,017 | 144,067 | 107,928 |
| EBITDA | 327,293 | 423,916 | 485,376 | 684,057 | 1,068,940 | 1,043,995 | 1,154,905 | 942,077 | 1,103,982 |
| EPS, basic | 147.15 | 239.35 | 140.61 | 28.41 | 240.72 | 147.14 | 204.29 | 92.09 | 68.36 |
| EPS, diluted | 146.26 | 237.56 | 139.82 | 28.25 | 238.96 | 145.87 | 201.94 | 91.16 | 67.23 |
Balance sheet
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 319,455 | 294,522 | 702,093 | 637,614 | 966,222 | 849,695 | 533,530 | 457,800 | 385,113 |
| Receivables | 420,247 | 741,907 | 757,005 | 783,091 | 696,644 | 649,429 | 668,403 | 709,465 | |
| Inventory | 212,944 | 919,670 | 759,599 | 753,881 | 853,167 | 986,457 | 1,209,869 | 1,217,349 | |
| Total current assets | 1,078,808 | 2,993,037 | 2,469,432 | 2,712,893 | 2,593,642 | 2,397,956 | 2,558,580 | 2,521,192 | |
| Property, plant and equipment | 536,801 | 1,331,931 | 1,386,370 | 1,453,917 | 1,582,800 | 1,691,229 | |||
| Lease right-of-use assets | 347,018 | 386,780 | 407,938 | 410,274 | 533,403 | 481,492 | |||
| Goodwill | 1,029,248 | 4,240,251 | 4,012,528 | 4,033,917 | 4,407,749 | 4,790,723 | 5,410,067 | 5,324,430 | |
| Intangible assets | 1,014,264 | 4,751,169 | 4,171,361 | 3,909,106 | 3,818,544 | 4,269,657 | 4,274,682 | 3,631,560 | |
| Total assets | 4,106,463 | 13,792,773 | 12,821,094 | 12,912,293 | 13,178,018 | 13,957,750 | 15,108,792 | 14,248,344 | |
| Accounts payable | 240,259 | 327,394 | 318,816 | 343,838 | 516,297 | 649,233 | 547,521 | 475,541 | |
| Total current liabilities | 737,509 | 2,553,049 | 2,175,898 | 1,773,176 | 2,145,730 | 2,481,940 | 2,313,103 | 2,506,521 | |
| Total liabilities | 2,089,054 | 8,606,782 | 8,093,608 | 7,735,116 | 7,494,495 | 7,603,078 | 7,834,788 | 7,312,365 | |
| Total debt | 985,662 | 5,750,951 | 5,093,304 | 4,635,371 | 4,345,410 | 4,382,341 | 4,843,752 | 4,515,265 | |
| Paid-in capital | 90,740 | 1,650,232 | 1,680,287 | 1,688,424 | 1,708,873 | 1,728,830 | 1,747,414 | 1,775,713 | |
| Retained earnings | 1,557,307 | 1,595,431 | 1,369,972 | 1,509,906 | 1,479,716 | 1,541,146 | 1,391,203 | 1,187,586 | |
| Shareholders' equity | 1,997,424 | 5,181,985 | 4,723,483 | 5,173,037 | 5,683,019 | 6,354,122 | 7,273,264 | 6,935,084 | |
| Minority interests | 19,985 | 4,006 | 4,003 | 4,140 | 504 | 549 | 741 | 895 | |
| Total equity | 1,948,965 | 2,017,409 | 5,185,991 | 4,727,486 | 5,177,177 | 5,685,684 | 6,354,672 | 7,274,005 | 6,935,979 |
| Total liabilities and equity | 4,106,463 | 13,792,773 | 12,821,094 | 12,912,293 | 13,178,018 | 13,957,750 | 15,108,792 | 14,248,344 |
Cash flow statement
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net income | 115,513 | 186,708 | 135,080 | 44,290 | 376,171 | 230,166 | 317,038 | 144,197 | 108,143 |
| Depreciation and amortization | 171,426 | 182,127 | 247,691 | 583,649 | 559,671 | 583,151 | 664,400 | 728,002 | 761,396 |
| Cash from operations | 261,363 | 377,854 | 328,479 | 669,752 | 1,010,931 | 1,123,105 | 977,156 | 716,344 | 1,057,182 |
| Capital expenditures | -61,660 | -67,005 | -77,677 | -127,082 | -111,206 | -123,252 | -140,657 | -175,420 | -200,795 |
| Cash from investing | -655,691 | -93,342 | -2,835,698 | 292,119 | 393,530 | -198,125 | -607,102 | -463,862 | -367,060 |
| Debt issued | 260,226 | 393,453 | 2,795,926 | 496,190 | 1,179,515 | 249,334 | 75,000 | 100,000 | 1,024,460 |
| Debt repaid | -191,763 | -140,000 | 0 | -701,057 | -1,651,706 | -810,115 | -356,670 | -320,901 | -1,321,090 |
| Share buybacks | -23,117 | -18,756 | -1,172 | -3,737 | -2,141 | -77,531 | -26,929 | -2,326 | -51,860 |
| Dividends paid | -141,688 | -141,893 | -142,952 | -282,582 | -283,357 | -283,665 | -279,416 | -287,188 | -302,498 |
| Cash from financing | 289,896 | -326,226 | 2,946,237 | -1,005,213 | -1,088,354 | -1,070,265 | -709,148 | -354,416 | -751,425 |
| Exchange rate effect | 5,742 | 4,565 | -31,269 | -21,766 | 12,501 | 28,758 | 22,929 | 26,204 | -11,385 |
| Free cash flow | 199,703 | 310,849 | 250,802 | 542,670 | 899,725 | 999,853 | 836,499 | 540,924 | 856,387 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Gross margin | 65.5% | Gross profit / revenue. |
| Operating margin | 7.5% | Operating income / revenue. |
| EBITDA margin | 24.1% | EBITDA (operating income + depreciation and amortization) / revenue. |
| Pre-tax margin | 3.8% | Pre-tax income / revenue. |
| Net margin | 2.4% | Net income / revenue. |
| FCF margin | 18.7% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 23.1% | Cash from operations / revenue. |
| Effective tax rate | 38.2% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 1.5% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 0.7% | Net income / average total assets. |
| Return on invested capital (ROIC) | 1.9% | 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%. |
| R&D / revenue | 15.9% | Research and development expense / revenue. |
| Capex / revenue | 4.4% | Capital expenditures / revenue. |
| D&A / revenue | 16.6% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 7.5% | 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. |
| Revenue CAGR, 5y | 6.8% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Gross profit growth, 1y | 5.8% | Gross profit vs the same period a year earlier. Only from a positive base. |
| Gross profit CAGR, 3y | 6.8% | Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Gross profit CAGR, 5y | 6.4% | Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating income growth, 1y | 60.0% | Operating income vs the same period a year earlier. Only from a positive base. |
| Operating income CAGR, 3y | -9.4% | Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating income CAGR, 5y | 27.8% | Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EBITDA growth, 1y | 17.2% | EBITDA vs the same period a year earlier. Only from a positive base. |
| EBITDA CAGR, 3y | 1.9% | Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EBITDA CAGR, 5y | 10.0% | Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | -25.1% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | -22.3% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Net income CAGR, 5y | 19.5% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | -26.3% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | -22.8% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 18.9% | Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | 47.6% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | -2.0% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 9.6% | 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 growth, 1y | 58.3% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | -5.0% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | 9.6% | 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 | -4.6% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 6.9% | 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 | 8.0% | 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 | -5.7% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 2.6% | 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 | 2.1% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 1.01x | Current assets / current liabilities. |
| Quick ratio | 0.44x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 0.15x | (Cash + short-term investments) / current liabilities. |
| Debt / equity | 0.65x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 31.7% | Total debt / total assets. |
| Liabilities / assets | 51.3% | Total liabilities / total assets. |
| Net debt | ¥4.13T | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Net debt / EBITDA | 3.74x | Net debt / EBITDA (twelve months), when EBITDA is positive. |
| Interest coverage | 1.63x | Operating income / interest expense. |
| Working capital | ¥14.67B | Current assets - current liabilities. |
| Goodwill and intangibles / assets | 62.9% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | -¥2.02T | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.31x | Revenue / average total assets. |
| Inventory turnover | 1.30x | Cost of revenue / average inventory. |
| Days inventory | 280 days | 365 x average inventory / cost of revenue. |
| Receivables turnover | 6.65x | Revenue / average receivables. |
| Days sales outstanding | 55 days | 365 x average receivables / revenue. |
| Days payables | 118 days | 365 x average accounts payable / cost of revenue. |
| Cash conversion cycle | 217 days | Days inventory + days sales outstanding - days payables. |
| FCF conversion | 793.5% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 19.0% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | ¥67.23 | 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 | ¥68.36 | Net income per basic share, as reported (split-adjusted). |
| Payout ratio | 280.3% | Dividends paid / net income, when net income is positive. |
| Dividends / FCF | 35.3% | Dividends paid / free cash flow, when free cash flow is positive. |
| Buybacks / FCF | 6.1% | Share buybacks / free cash flow, when free cash flow is positive. |
What was TAKEDA PHARMACEUTICAL CO LTD's revenue in fiscal 2025?
TAKEDA PHARMACEUTICAL CO LTD reported revenue of ¥4.58T for fiscal 2025, 7.5% higher than the year before.
Was TAKEDA PHARMACEUTICAL CO LTD profitable in fiscal 2025?
Yes. Net income was ¥107.93B, a net margin of 2.4%.
How much free cash flow did TAKEDA PHARMACEUTICAL CO LTD generate in fiscal 2025?
Cash from operations of ¥1.06T minus capital expenditures of ¥200.8B left free cash flow of ¥856.39B.