Cash flow Hankyu Hanshin Holdings, Inc.

Equities

9042

JP3774200004

Passenger Transportation, Ground & Sea

Market Closed - Japan Exchange Other stock markets 06:30:00 10/02/2026 GMT			5-day change	1st Jan Change
4,505.00 ^JPY	-0.22%		+6.38%	+14.25%

01-30	Hankyu Hanshin Holdings, Inc. Reports Earnings Results for the Nine Months Ended December 31, 2025	CI
12-01	Hankyu Hanshin's Real Estate segment saves the day

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Published financial data: HANKYU HANSHIN HOLDINGS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	569B	746B	968B	998B	1,107B
Total Revenues	569B	746B	968B	998B	1,107B
Cost of Goods Sold, Total	542B	680B	849B	859B	962B
Gross Profit	26.74B	66.35B	119B	138B	144B
Selling General & Admin Expenses, Total	20.4B	22.59B	25.14B	32.77B	33.57B
Depreciation & Amortization - (IS)	865M	1.11B	1.24B	-	-
Amortization of Goodwill and Intangible Assets - (IS)	2.51B	2.37B	2.33B	-	-
Other Operating Expenses	904M	1.08B	1.1B	-	-
Other Operating Expenses, Total	24.67B	27.14B	29.81B	32.77B	33.57B
Operating Income	2.07B	39.21B	89.35B	106B	111B
Interest Expense, Total	-8.88B	-8.52B	-8.77B	-10.38B	-12.06B
Interest And Investment Income	1.1B	1.11B	1.27B	1.79B	2.19B
Net Interest Expenses	-7.78B	-7.41B	-7.5B	-8.59B	-9.88B
Income (Loss) On Equity Invest.	-1.62B	7.17B	8.32B	14.62B	15.45B
Currency Exchange Gains (Loss)	656M	-	-	-	-
Other Non Operating Income (Expenses)	-942M	-523M	36M	-2.3B	-5.21B
EBT, Excl. Unusual Items	-7.62B	38.45B	90.22B	109B	111B
Gain (Loss) On Sale Of Investments	-	3.7B	1.94B	-	-2.04B
Gain (Loss) On Sale Of Assets	-	-	-390M	-	-
Asset Writedown	-3.57B	-28.3B	-17.66B	-55.55B	-7.43B
Other Unusual Items	-29.82B	24.74B	901M	30.39B	1.02B
EBT, Incl. Unusual Items	-41.01B	38.59B	75.01B	84.24B	103B
Income Tax Expense	-6.48B	13.26B	23.42B	13.17B	33.94B
Earnings From Continuing Operations	-34.54B	25.33B	51.59B	71.07B	68.86B
Net Income to Company	-34.54B	25.33B	51.59B	71.07B	68.86B
Minority Interest	-2.17B	-3.92B	-4.64B	-3.27B	-1.47B
Net Income - (IS)	-36.7B	21.42B	46.95B	67.8B	67.39B
Net Income to Common Incl Extra Items	-36.7B	21.42B	46.95B	67.8B	67.39B
Net Income to Common Excl. Extra Items	-36.7B	21.42B	46.95B	67.8B	67.39B
Per Share Items
Net EPS - Basic	-151.72	88.89	194.88	281.84	281.77
Basic EPS - Continuing Operations	-151.72	88.89	194.88	281.84	281.77
Basic Weighted Average Shares Outstanding	242M	241M	241M	241M	239M
Net EPS - Diluted	-151.72	88.83	194.78	281.68	281.46
Diluted EPS - Continuing Operations	-151.72	88.83	194.78	281.68	281.46
Diluted Weighted Average Shares Outstanding	242M	241M	241M	241M	239M
Normalized Basic EPS	-28.65	83.48	214.79	270.66	284.56
Normalized Diluted EPS	-28.65	83.48	214.79	270.66	284.56
Dividend Per Share	50	50	50	55	60
Payout Ratio	-33.21	56.62	25.82	17.87	21.48
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	62.08B	102B	154B	171B	178B
EBITA	4.58B	41.58B	91.68B	108B	113B
EBIT	2.07B	39.21B	89.35B	106B	111B
Effective Tax Rate - (Ratio)	15.79	34.35	31.23	15.63	33.01
Normalized Net Income	-6.93B	20.11B	51.75B	65.11B	68.05B
Non-Cash Pension Expense	-882M	-1.86B	-1.84B	-1.85B	-2.26B

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	27.55B	31.33B	42.88B	59.61B	61.05B
Total Cash And Short Term Investments	27.55B	31.33B	42.88B	59.61B	61.05B
Accounts Receivable, Total	72.64B	112B	119B	102B	101B
Total Receivables	72.64B	112B	119B	102B	101B
Inventory	171B	176B	205B	283B	383B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	54.61B	46.02B	61.24B	68.55B	72.95B
Total Current Assets	325B	366B	428B	513B	618B
Net Property Plant And Equipment	1,848B	1,923B	1,981B	2,009B	2,069B
Long-term Investments	407B	389B	414B	487B	547B
Goodwill	12.01B	9.66B	7.33B	-	-
Other Intangibles, Total	21.91B	27.86B	28.16B	36.32B	43.22B
Deferred Tax Assets Long-Term	6.79B	7.22B	7.27B	7.51B	6.39B
Other Long-Term Assets, Total	1M	-	2M	2M	1M
Total Assets	2,621B	2,723B	2,865B	3,053B	3,283B
Liabilities
Accounts Payable, Total	29.14B	40.7B	42.02B	43.19B	48.46B
Accrued Expenses, Total	20.41B	20.54B	27.52B	28.24B	31.38B
Short-term Borrowings	181B	196B	198B	190B	169B
Current Portion of Long-Term Debt	10B	7B	30B	15B	30B
Current Portion of Leases	3.21B	3.83B	4.25B	4.13B	4.03B
Current Income Taxes Payable	2.19B	6.38B	10.03B	15.29B	20.33B
Other Current Liabilities	134B	152B	188B	211B	232B
Total Current Liabilities	381B	427B	500B	507B	536B
Long-Term Debt	860B	879B	865B	956B	1,069B
Long-Term Leases	8.22B	9.92B	9.5B	9.4B	10.35B
Pension & Other Post Retirement Benefits	62.89B	62.8B	61.92B	61.68B	57.68B
Deferred Tax Liability Non Current	182B	182B	187B	187B	189B
Other Non Current Liabilities	217B	247B	262B	262B	289B
Total Liabilities	1,711B	1,807B	1,884B	1,983B	2,151B
Common Stock, Total	99.47B	99.47B	99.47B	99.47B	99.47B
Additional Paid In Capital	147B	147B	147B	147B	147B
Retained Earnings	636B	645B	680B	735B	783B
Treasury Stock	-48.7B	-48.71B	-48.75B	-51.89B	-53.68B
Comprehensive Income and Other	33.51B	27.02B	28.69B	48.48B	60.32B
Total Common Equity	867B	870B	907B	978B	1,036B
Minority Interest	42.83B	45.01B	74.14B	91.63B	96.57B
Total Equity	910B	915B	981B	1,070B	1,132B
Total Liabilities And Equity	2,621B	2,723B	2,865B	3,053B	3,283B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	241M	241M	241M	240M	240M
ECS Total Common Shares Outstanding	241M	241M	241M	240M	240M
Book Value / Share	3.6K	3.61K	3.76K	4.07K	4.32K
Tangible Book Value	833B	833B	871B	942B	993B
Tangible Book Value Per Share	3.46K	3.46K	3.62K	3.92K	4.14K
Total Debt	1,063B	1,096B	1,106B	1,174B	1,283B
Net Debt	1,036B	1,065B	1,063B	1,115B	1,222B
Debt Equivalent of Unfunded Proj. Benefit Obligation	42.7B	44.29B	43.32B	34.5B	30.23B
Minority Interest, Total (Incl. Fin. Div)	42.83B	45.01B	74.14B	91.63B	96.57B
Inventories - Raw Materials, Total	4.86B	5.46B	5.79B	6.49B	6.55B
Inventories - Work In Process, Total	4.24B	2.13B	2.46B	2.92B	3.56B
Inventories - Finished Goods, Total	161B	169B	197B	273B	373B
Full Time Employees	23.19K	22.87K	22.53K	22.81K	23.03K
Accumulated Allowance for Doubtful Accounts (Supple)	350M	408M	856M	960M	888M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	-41.01B	38.59B	75.01B	84.25B	103B
Depreciation & Amortization - CF	57.5B	59.94B	62.22B	62.58B	64.48B
Amortization of Goodwill and Intangible Assets - (CF)	2.51B	2.37B	2.33B	2.29B	2.59B
Depreciation & Amortization, Total	60.01B	62.31B	64.55B	64.87B	67.06B
(Gain) Loss From Sale Of Asset	3.57B	28.3B	16.26B	55.55B	7.43B
(Gain) Loss on Sale of Investments - (CF)	-	-3.68B	-1.94B	-	-
(Income) Loss On Equity Investments - (CF)	1.62B	-7.17B	-8.32B	-14.62B	-15.45B
Other Operating Activities, Total	-26.86B	8.93B	-15.36B	-15.74B	-14.08B
Change In Accounts Receivable	-4.35B	-38.87B	-7.65B	18.3B	1.29B
Change In Inventories	-36.8B	-2.56B	-29.29B	-61.32B	-92.82B
Change In Accounts Payable	-632M	11.56B	1.31B	521M	5.24B
Change in Other Net Operating Assets	11.96B	-15.58B	37.52B	-8.31B	25.95B
Cash from Operations	-32.5B	81.84B	132B	124B	87.42B
Capital Expenditure	-137B	-131B	-92.78B	-138B	-128B
Sale of Property, Plant, and Equipment	19.91B	681M	320M	-	1.52B
Cash Acquisitions	-	-	-28.64B	-6.92B	-1.94B
Investment in Marketable and Equity Securities, Total	-14.14B	4.04B	-16.94B	-32.75B	-56.05B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-744M	-	-	-	-
Other Investing Activities, Total	29.78B	30.32B	24.81B	36.62B	16.79B
Cash from Investing	-102B	-96.44B	-113B	-141B	-168B
Short Term Debt Issued, Total	30B	20B	5.18B	4.56B	-
Long-Term Debt Issued, Total	203B	80.07B	90.05B	177B	223B
Total Debt Issued	233B	100B	95.23B	181B	223B
Short Term Debt Repaid, Total	-17.45B	-14.8B	-40B	-10B	-14.13B
Long-Term Debt Repaid, Total	-59.7B	-54.97B	-61.34B	-121B	-103B
Total Debt Repaid	-77.14B	-69.77B	-101B	-131B	-117B
Repurchase of Common Stock	-4.66B	-47M	-53M	-3.48B	-7.16B
Common Dividends Paid	-12.19B	-12.13B	-12.12B	-12.11B	-14.47B
Common & Preferred Stock Dividends Paid	-12.19B	-12.13B	-12.12B	-12.11B	-14.47B
Other Financing Activities, Total	-4.2B	-2.99B	9.3B	-5.95B	-4.29B
Cash from Financing	135B	15.14B	-8.98B	28.46B	79.47B
Foreign Exchange Rate Adjustments	-354M	1.44B	1.9B	1.24B	1.68B
Miscellaneous Cash Flow Adjustments	2.07B	2.21B	154M	536M	1.27B
Net Change in Cash	1.7B	4.2B	11.95B	12.43B	2.2B
Supplemental Items
Cash Interest Paid	8.9B	8.56B	8.63B	10.26B	11.65B
Cash Income Tax Paid (Refund)	29.87B	-6.93B	18.03B	19.82B	19.44B
Levered Free Cash Flow	-164B	-52.8B	18.78B	-51.82B	-67.84B
Unlevered Free Cash Flow	-158B	-47.48B	24.26B	-45.33B	-60.3B
Change In Net Working Capital	82.45B	2.81B	3.36B	38B	68.71B
Net Debt Issued / Repaid	156B	30.3B	-6.11B	50B	105B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	0.05	0.92	2	2.23	2.19
Return on Total Capital	0.07	1.23	2.72	3.05	2.97
Return On Equity %	-3.74	2.78	5.44	6.93	6.25
Return on Common Equity	-4.14	2.47	5.28	7.19	6.69
Margin Analysis
Gross Profit Margin %	4.7	8.89	12.31	13.88	13.05
SG&A Margin	3.59	3.03	2.6	3.28	3.03
EBITDA Margin %	10.91	13.61	15.89	17.1	16.08
EBITA Margin %	0.8	5.57	9.47	10.82	10.25
EBIT Margin %	0.36	5.25	9.23	10.59	10.02
Income From Continuing Operations Margin %	-6.07	3.39	5.33	7.12	6.22
Net Income Margin %	-6.45	2.87	4.85	6.8	6.09
Net Avail. For Common Margin %	-6.45	2.87	4.85	6.8	6.09
Normalized Net Income Margin	-1.22	2.7	5.34	6.53	6.15
Levered Free Cash Flow Margin	-28.77	-7.08	1.94	-5.19	-6.13
Unlevered Free Cash Flow Margin	-27.79	-6.36	2.5	-4.54	-5.45
Asset Turnover
Asset Turnover	0.22	0.28	0.35	0.34	0.35
Fixed Assets Turnover	0.31	0.4	0.5	0.5	0.54
Receivables Turnover (Average Receivables)	8.08	8.08	8.37	9	10.86
Inventory Turnover (Average Inventory)	3.57	3.92	4.46	3.52	2.89
Short Term Liquidity
Current Ratio	0.85	0.86	0.86	1.01	1.15
Quick Ratio	0.26	0.34	0.32	0.32	0.3
Operating Cash Flow to Current Liabilities	-0.09	0.19	0.26	0.24	0.16
Days Sales Outstanding (Average Receivables)	45.16	45.2	43.61	40.66	33.6
Days Outstanding Inventory (Average Inventory)	102.28	93.1	81.9	103.85	126.2
Average Days Payable Outstanding	18.47	18.59	17.2	16.64	15.74
Cash Conversion Cycle (Average Days)	128.97	119.7	108.3	127.86	144.06
Long Term Solvency
Total Debt/Equity	116.82	119.73	112.78	109.75	113.27
Total Debt / Total Capital	53.88	54.49	53	52.32	53.11
LT Debt/Equity	95.45	97.16	89.11	90.21	95.31
Long-Term Debt / Total Capital	44.02	44.22	41.88	43.01	44.69
Total Liabilities / Total Assets	65.28	66.38	65.77	64.96	65.51
EBIT / Interest Expense	0.23	4.6	10.19	10.18	9.19
EBITDA / Interest Expense	6.99	11.92	17.55	16.43	14.75
(EBITDA - Capex) / Interest Expense	-8.43	-3.52	6.97	3.11	4.14
Total Debt / EBITDA	17.12	10.8	7.19	6.88	7.21
Net Debt / EBITDA	16.68	10.49	6.91	6.53	6.87
Total Debt / (EBITDA - Capex)	-14.2	-36.57	18.1	36.36	25.66
Net Debt / (EBITDA - Capex)	-13.83	-35.53	17.4	34.51	24.44
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-25.4	31.17	29.76	3.03	10.95
Gross Profit, 1 Yr. Growth %	-78.12	148.13	79.59	16.19	4.32
EBITDA, 1 Yr. Growth %	-59.73	63.55	51.59	10.83	4.33
EBITA, 1 Yr. Growth %	-95.31	808.83	120.49	17.79	5.08
EBIT, 1 Yr. Growth %	-97.83	1.8K	127.86	18.29	4.91
Earnings From Cont. Operations, 1 Yr. Growth %	-160.69	-173.36	103.63	37.77	-3.12
Net Income, 1 Yr. Growth %	-166.9	-158.36	119.22	44.4	-0.61
Normalized Net Income, 1 Yr. Growth %	-112.75	-390.2	157.28	25.82	4.52
Diluted EPS Before Extra, 1 Yr. Growth %	-167.23	-158.55	119.27	44.61	-0.08
Accounts Receivable, 1 Yr. Growth %	6.59	54.4	6.29	-14.08	-1.02
Inventory, 1 Yr. Growth %	27.88	3.4	16.14	38.11	35.35
Net Property, Plant and Equip., 1 Yr. Growth %	1.98	4.07	3.02	1.43	2.97
Total Assets, 1 Yr. Growth %	5.3	3.88	5.24	6.54	7.55
Tangible Book Value, 1 Yr. Growth %	-4.13	-0.05	4.62	8.1	5.39
Common Equity, 1 Yr. Growth %	-4.25	0.37	4.19	7.88	5.89
Cash From Operations, 1 Yr. Growth %	-126.41	-351.82	61.39	-6.49	-29.22
Capital Expenditures, 1 Yr. Growth %	42.62	-3.99	-29.44	49.04	-7.46
Levered Free Cash Flow, 1 Yr. Growth %	-1.13K	-67.74	-135.56	-376.02	30.91
Unlevered Free Cash Flow, 1 Yr. Growth %	-828.31	-69.97	-151.09	-286.91	33.01
Dividend Per Share, 1 Yr. Growth %	0	0	0	10	9.09
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-15.22	-1.08	30.46	15.62	6.92
Gross Profit, 2 Yr. CAGR %	-56.5	-26.32	111.1	44.46	10.1
EBITDA, 2 Yr. CAGR %	-39.81	-18.84	57.45	29.62	7.53
EBITA, 2 Yr. CAGR %	-80.24	-34.73	347.65	61.15	11.25
EBIT, 2 Yr. CAGR %	-86.59	-35.81	557.48	64.17	11.4
Earnings From Cont. Operations, 2 Yr. CAGR %	-28.75	-33.28	22.22	67.5	15.53
Net Income, 2 Yr. CAGR %	-25.13	-37.52	13.11	77.92	19.8
Normalized Net Income, 2 Yr. CAGR %	-67.99	-39.18	173.24	79.92	14.68
Diluted EPS Before Extra, 2 Yr. CAGR %	-24.6	-37.26	13.3	78.07	20.21
Accounts Receivable, 2 Yr. CAGR %	-11.57	28.29	28.11	-4.44	-7.78
Inventory, 2 Yr. CAGR %	14.04	14.99	9.58	26.65	36.72
Net Property, Plant and Equip., 2 Yr. CAGR %	1.78	3.02	3.54	2.22	2.19
Total Assets, 2 Yr. CAGR %	3.09	4.59	4.56	5.89	7.05
Tangible Book Value, 2 Yr. CAGR %	-0.94	-2.11	2.26	6.35	6.74
Common Equity, 2 Yr. CAGR %	-1.01	-1.97	2.26	6.02	6.88
Cash From Operations, 2 Yr. CAGR %	-49.22	-18.46	101.6	22.85	-18.65
Capital Expenditures, 2 Yr. CAGR %	-0.31	17.02	-17.7	2.55	17.44
Levered Free Cash Flow, 2 Yr. CAGR %	103.11	82.14	-66.13	-0.93	90.09
Unlevered Free Cash Flow, 2 Yr. CAGR %	116.73	47.89	-60.83	-2.29	57.67
Dividend Per Share, 2 Yr. CAGR %	11.8	0	0	4.88	9.54
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-9.21	-1.94	8.28	20.59	14.04
Gross Profit, 3 Yr. CAGR %	-41.68	-22.27	-0.84	73	29.6
EBITDA, 3 Yr. CAGR %	-27.19	-16.01	-0.05	40.06	20.57
EBITA, 3 Yr. CAGR %	-65.09	-29.2	-2.06	186.85	39.74
EBIT, 3 Yr. CAGR %	-73.02	-30.13	-2.08	271.16	41.41
Earnings From Cont. Operations, 3 Yr. CAGR %	-20.23	-28.06	-3.22	27.2	39.56
Net Income, 3 Yr. CAGR %	-17.92	-31.1	-5.06	22.7	46.53
Normalized Net Income, 3 Yr. CAGR %	-52.41	-33.25	-1.64	111	50.12
Diluted EPS Before Extra, 3 Yr. CAGR %	-17.26	-30.7	-4.79	22.9	46.88
Accounts Receivable, 3 Yr. CAGR %	-7.7	6.48	20.49	12.14	-3.31
Inventory, 3 Yr. CAGR %	10.38	10.37	15.37	18.37	29.48
Net Property, Plant and Equip., 3 Yr. CAGR %	1.84	2.54	3.02	2.83	2.47
Total Assets, 3 Yr. CAGR %	2.84	3.35	4.81	5.22	6.44
Tangible Book Value, 3 Yr. CAGR %	1.26	-0.64	0.08	4.17	6.03
Common Equity, 3 Yr. CAGR %	1.16	-0.55	0.04	4.1	5.98
Cash From Operations, 3 Yr. CAGR %	-37.92	-13.4	2.38	56.05	2.22
Capital Expenditures, 3 Yr. CAGR %	10.01	-1.55	-1.14	0.32	-0.91
Levered Free Cash Flow, 3 Yr. CAGR %	88.25	10	5.66	-31.84	8.71
Unlevered Free Cash Flow, 3 Yr. CAGR %	72.47	12.15	3.77	-34.06	8.29
Dividend Per Share, 3 Yr. CAGR %	7.72	7.72	0	3.23	6.27
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-4.26	0.26	4.96	4.74	7.73
Gross Profit, 5 Yr. CAGR %	-28.32	-13.05	-2.44	-0.4	3.4
EBITDA, 5 Yr. CAGR %	-17.9	-8.61	-0.87	-0.09	2.91
EBITA, 5 Yr. CAGR %	-47.32	-17.15	-3.14	-1.62	3.06
EBIT, 5 Yr. CAGR %	-54.86	-17.73	-3.22	-1.66	3.1
Earnings From Cont. Operations, 5 Yr. CAGR %	-13.56	-19.05	-5.39	0.88	3.89
Net Income, 5 Yr. CAGR %	-12.11	-21.38	-6.69	0.7	4.2
Normalized Net Income, 5 Yr. CAGR %	-35.83	-19.98	-4.25	-0.76	4.59
Diluted EPS Before Extra, 5 Yr. CAGR %	-11.39	-20.79	-6.17	1.09	4.52
Accounts Receivable, 5 Yr. CAGR %	-0.07	6.15	5.23	1.97	8.27
Inventory, 5 Yr. CAGR %	8.24	8.39	10.06	16.62	23.48
Net Property, Plant and Equip., 5 Yr. CAGR %	1.72	2.08	2.52	2.41	2.69
Total Assets, 5 Yr. CAGR %	2.81	2.99	3.52	4.36	5.7
Tangible Book Value, 5 Yr. CAGR %	4.54	2.11	1.66	2.1	2.69
Common Equity, 5 Yr. CAGR %	4.15	2.02	1.6	2.03	2.72
Cash From Operations, 5 Yr. CAGR %	-23.6	-6.68	-0.56	-0.4	-6.61
Capital Expenditures, 5 Yr. CAGR %	8.12	7.23	-2.04	0.07	5.91
Levered Free Cash Flow, 5 Yr. CAGR %	75.18	25.82	-5.21	5.49	33.64
Unlevered Free Cash Flow, 5 Yr. CAGR %	54.89	14.88	-4.68	6.14	22.67
Dividend Per Share, 5 Yr. CAGR %	7.39	7.39	4.56	6.58	3.71