Financials ASICS Corporation

Equities

7936

JP3118000003

Footwear

Market Closed - Japan Exchange Other stock markets 07:30:00 18/07/2025 BST			5-day change	1st Jan Change
3,598.00 ^JPY	-0.94%		-3.28%	+15.69%

07-07	Asics Q2 Japan Sales Rise 28%, Onitsuka Tiger Inbound Tourist Sales Double	MT
06-16	Japan's ASICS to boost India sportswear production to 40% amid import restrictions, executive says	RE

Projected Income Statement: ASICS Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	328,784	404,082	484,601	570,463	678,526	779,486	842,326	902,106
Change	-	22.9%	19.93%	17.72%	18.94%	14.88%	8.06%	7.1%
EBITDA ¹	10,029	35,996	50,002	70,719	121,353	148,150	165,339	180,117
Change	-	258.92%	38.91%	41.43%	71.6%	22.08%	11.6%	8.94%
EBIT ¹	-3,953	21,945	34,002	54,215	100,111	126,942	143,112	159,569
Change	-	655.15%	54.94%	59.45%	84.66%	26.8%	12.74%	11.5%
Interest Paid ¹	-1,700	-1,723	-2,662	-4,846	-5,427	-1,952	-5,502	-5,602
Earnings before Tax (EBT) ¹	-16,060	14,120	28,703	50,572	93,244	121,320	137,802	153,446
Change	-	187.92%	103.28%	76.19%	84.38%	30.11%	13.59%	11.35%
Net income ¹	-16,126	9,402	19,887	35,272	63,806	83,960	94,979	106,402
Change	-	158.3%	111.52%	77.36%	80.9%	31.59%	13.12%	12.03%
Announcement Date	12/02/21	10/02/22	10/02/23	09/02/24	14/02/25	-	-	-

¹JPY in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	85,341	61,556	101,309	80,578	106,549	102,929	112,729	81,875	105,329	119,751	137,988	121,533	152,297	137,782	158,026	122,358	174,102	168,097	183,255	153,072	208,313	191,308	208,800	172,733	215,000	205,000	224,000	186,000
Change	-	-27.87%	64.58%	-20.46%	32.23%	-3.4%	9.52%	-27.37%	28.65%	13.69%	15.23%	-11.92%	25.31%	-9.53%	14.69%	-22.57%	42.29%	-3.45%	9.02%	-16.47%	36.09%	-8.16%	9.14%	-17.27%	24.47%	-4.65%	9.27%	-16.96%
EBITDA	-	662	9,587	-3,526	17,507	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	1,348.19%	-136.78%	596.51%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-882	-2,991	7,152	-7,232	14,604	9,389	11,792	-13,840	10,057	9,109	16,885	-2,049	22,120	11,490	22,195	-1,590	33,812	25,184	32,527	8,588	44,511	30,933	40,060	13,680	48,000	34,000	46,000	19,000
Change	-	-239.12%	339.12%	-201.12%	301.94%	-35.71%	25.59%	-217.37%	172.67%	-9.43%	85.37%	-112.14%	1,179.55%	-48.06%	93.17%	-107.16%	2,226.54%	-25.52%	29.16%	-73.6%	418.29%	-30.5%	29.5%	-65.85%	250.88%	-29.17%	35.29%	-58.7%
Charge d'intérêts	-369	-	-425	-	-403	-	-428	-	-457	-	-737	-	-1,009	-	-1,253	-	-1,291	-	-1,364	-	-1,247	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-4,146	-	6,051	-	14,161	-	10,082	-	10,943	7,558	15,079	-4,877	21,605	11,794	21,829	-4,656	33,062	24,996	34,015	1,171	43,382	29,100	35,800	11,000	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-30.93%	99.51%	-132.34%	543%	-45.41%	85.09%	-121.33%	810.09%	-24.4%	36.08%	-96.56%	3,604.7%	-32.92%	23.02%	-69.27%	-	-	-	-
Net income ¹	-243	-6,023	2,858	-12,718	10,485	1,865	6,723	-9,671	8,725	4,837	9,683	-3,358	16,310	8,486	15,484	-5,008	26,737	15,482	22,721	-1,134	31,647	20,835	25,767	6,900	38,000	20,500	30,200	7,800
Change	-	-2,378.6%	147.45%	-545%	182.44%	-82.21%	260.48%	-243.85%	190.22%	-44.56%	100.19%	-134.68%	585.71%	-47.97%	82.47%	-132.34%	633.89%	-42.1%	46.76%	-104.99%	2,890.74%	-34.16%	23.67%	-73.22%	450.72%	-46.05%	47.32%	-74.17%
Announcement Date	22/05/20	13/08/20	06/11/20	12/02/21	13/05/21	13/08/21	05/11/21	10/02/22	11/05/22	12/08/22	11/11/22	10/02/23	10/05/23	08/08/23	10/11/23	09/02/24	10/05/24	13/08/24	08/11/24	14/02/25	15/05/25	-	-	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: December	2021 S1	2022 S1	2022 S2	2023 S1	2024 S1	2024 S2	2025 S1
Net sales ¹	209,478	225,080	259,521	290,079	342,199	336,327	407,900
Change	-	7.45%	15.3%	11.77%	17.97%	-1.72%	21.28%
EBITDA	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-
EBIT ¹	23,993	19,166	14,836	33,610	58,996	41,115	76,300
Change	-	-20.12%	-22.59%	126.54%	75.53%	-30.31%	85.58%
Charge d'intérêts	-820	-997	-	-2,244	-2,724	-	-
Earnings before Tax (EBT)	19,072	18,501	-	33,399	58,058	35,186	-
Change	-	-2.99%	-	-	73.83%	-39.4%	-
Net income	12,350	13,562	6,325	24,796	42,219	21,587	-
Change	-	9.81%	-53.36%	292.03%	70.27%	-48.87%	-
Announcement Date	13/08/21	12/08/22	10/02/23	08/08/23	13/08/24	14/02/25	-

¹JPY in Million

Estimates

Forecast Balance Sheet: ASICS Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	21,529	14,175	72,415	18,112	-69,745	-90,881	-148,481	-209,760
Change	-	-34.16%	410.86%	-74.99%	-485.08%	-30.3%	-63.38%	-41.27%
Announcement Date	12/02/21	10/02/22	10/02/23	09/02/24	14/02/25	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: ASICS Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	8,404	9,415	10,570	15,882	24,114	22,567	21,526	22,371
Change	-	12.03%	12.27%	50.26%	51.83%	-6.42%	-4.61%	3.92%
Free Cash Flow (FCF) ¹	9,696	38,979	-35,908	74,569	80,500	45,571	94,784	104,767
Change	-	302.01%	-192.12%	307.67%	7.95%	-43.39%	107.99%	10.53%
Announcement Date	12/02/21	10/02/22	10/02/23	09/02/24	14/02/25	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: ASICS Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	3.05%	8.91%	10.32%	12.4%	17.88%	19.01%	19.63%	19.97%
EBIT Margin (%)	-1.2%	5.43%	7.02%	9.5%	14.75%	16.29%	16.99%	17.69%
EBT Margin (%)	-4.88%	3.49%	5.92%	8.87%	13.74%	15.56%	16.36%	17.01%
Net margin (%)	-4.9%	2.33%	4.1%	6.18%	9.4%	10.77%	11.28%	11.79%
FCF margin (%)	2.95%	9.65%	-7.41%	13.07%	11.86%	5.85%	11.25%	11.61%
FCF / Net Income (%)	-60.13%	414.58%	-180.56%	211.41%	126.16%	54.28%	99.79%	98.46%
Profitability
ROA	-2.13%	6.53%	8.02%	11.4%	18.84%	18.83%	19.42%	19.5%
ROE	-11.6%	6.9%	12.6%	18.8%	29.1%	33.45%	32.18%	29.67%
Financial Health
Leverage (Debt/EBITDA)	2.15x	0.39x	1.45x	0.26x	-	-	-	-
Debt / Free cash flow	2.22x	0.36x	-2.02x	0.24x	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.56%	2.33%	2.18%	2.78%	3.55%	2.9%	2.56%	2.48%
CAPEX / EBITDA (%)	83.8%	26.16%	21.14%	22.46%	19.87%	15.23%	13.02%	12.42%
CAPEX / FCF (%)	86.67%	24.15%	-29.44%	21.3%	29.96%	49.52%	22.71%	21.35%
Items per share
Cash flow per share ¹	-3.298	32.04	49	70.65	116.8	20.9	143.7	165.5
Change	-	1,071.65%	52.92%	44.2%	65.25%	-82.1%	587.56%	15.17%
Dividend per Share ¹	6	6	10	16.25	20	28.56	33.04	36.94
Change	-	0%	66.67%	62.5%	23.08%	42.81%	15.67%	11.81%
Book Value Per Share ¹	172.4	199.5	232.9	279.4	325.6	393.6	468.7	561.7
Change	-	15.74%	16.71%	20%	16.52%	20.89%	19.07%	19.85%
EPS ¹	-22.04	12.84	27.15	48.13	88.3	117	133.3	149.5
Change	-	158.27%	111.37%	77.27%	83.46%	32.51%	13.91%	12.15%
Nbr of stocks (in thousands)	732,129	732,167	732,677	732,945	715,737	709,226	709,226	709,226
Announcement Date	12/02/21	10/02/22	10/02/23	09/02/24	14/02/25	-	-	-