Cash flow Hanwa Co., Ltd.

Stocks

8078

JP3777800008

Iron & Steel

Delayed Japan Exchange Other stock markets 07:30:00 22/07/2026 BST			5-day change	1st Jan Change
1,724.00 ^JPY	+1.35%		+2.44%	+20.22%

07-01	Tranche Update on Hanwa Co., Ltd.'s Equity Buyback Plan announced on May 12, 2026.	CI
06-25	Daiwa Securities Upgrades Hanwha to Outperform from Neutral; Price Target is 2,000 Yen	MT

5cb998d9a95a14f6b1df9a.NSixML-Q8qbiJ67V5WQRk6gb2ZSz97m1ikBEpytV6RI.UH3rUuD7qtDURtyS1Qt1-uRQmsaHuvHy7AMBxGgxhUNAEdlWxd6h0aFwxQ

Published financial data: HANWA CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022	2023	2024	2025	2026
Revenues	2,164B	2,668B	2,432B	2,555B	2,663B
Total Revenues	2,164B	2,668B	2,432B	2,555B	2,663B
Cost of Goods Sold, Total	2,045B	2,540B	2,312B	2,414B	2,522B
Gross Profit	119B	129B	120B	141B	141B
Selling General & Admin Expenses, Total	56.64B	63.37B	70.12B	79.07B	82.67B
Provision for Bad Debts	-	1.06B	-	-	-
Other Operating Expenses, Total	56.64B	64.44B	70.12B	79.07B	82.67B
Operating Income	62.37B	64.11B	49.72B	61.53B	58.44B
Interest Expense, Total	-4.07B	-9.97B	-8.75B	-8.72B	-7.57B
Interest And Investment Income	3.29B	11.14B	8.25B	8.06B	6.69B
Net Interest Expenses	-779M	1.17B	-506M	-650M	-882M
Income (Loss) On Equity Invest.	3.32B	4.19B	3.53B	2.6B	-1.67B
Currency Exchange Gains (Loss)	-1.85B	-681M	-555M	-2.37B	-3.15B
Other Non Operating Income (Expenses)	-345M	-4.52B	-3.92B	-1.37B	-481M
EBT, Excl. Unusual Items	62.72B	64.27B	48.28B	59.75B	52.26B
Gain (Loss) On Sale Of Investments	394M	1.38B	4.41B	5.85B	813M
Gain (Loss) On Sale Of Assets	-	14.42B	1.2B	-	-175M
Asset Writedown	-	-	-	-105M	-
Other Unusual Items	26M	-4.11B	1M	-1M	-117M
EBT, Incl. Unusual Items	63.14B	75.96B	53.89B	65.49B	52.78B
Income Tax Expense	18.73B	23.22B	14.52B	19.35B	15.38B
Earnings From Continuing Operations	44.4B	52.74B	39.36B	46.14B	37.41B
Net Income to Company	44.4B	52.74B	39.36B	46.14B	37.41B
Minority Interest	-787M	-1.24B	-946M	-658M	859M
Net Income - (IS)	43.62B	51.5B	38.42B	45.48B	38.26B
Net Income to Common Incl Extra Items	43.62B	51.5B	38.42B	45.48B	38.26B
Net Income to Common Excl. Extra Items	43.62B	51.5B	38.42B	45.48B	38.26B
Per Share Items
Net EPS - Basic	214.66	253.49	188.98	225.13	193.13
Basic EPS - Continuing Operations	214.66	253.49	188.98	225.13	193.13
Basic Weighted Average Shares Outstanding	203M	203M	203M	202M	198M
Net EPS - Diluted	214.66	253.49	188.98	225.13	193.13
Diluted EPS - Continuing Operations	214.66	253.49	188.98	225.13	193.13
Diluted Weighted Average Shares Outstanding	203M	203M	203M	202M	198M
Normalized Basic EPS	189.04	191.61	143.76	181.58	169.19
Normalized Diluted EPS	189.04	191.61	143.76	181.58	169.19
Dividend Per Share	20	26	37	45	290
Payout Ratio	7.46	7.9	17.43	18.23	25.63
Supplemental Items
EBITDA	68.88B	71.67B	59.16B	71.58B	68.27B
EBITA	62.76B	64.3B	49.8B	61.82B	59.01B
EBIT	62.37B	64.11B	49.72B	61.53B	58.44B
Effective Tax Rate - (Ratio)	29.67	30.57	26.95	29.55	29.13
Normalized Net Income	38.41B	38.93B	29.23B	36.68B	33.52B
Non-Cash Pension Expense	746M	493M	354M	14M	107M

Fiscal Period: March	2022	2023	2024	2025	2026
Assets
Cash And Equivalents	165B	84.19B	76.52B	65.31B	85.67B
Short Term Investments	-	-	-	-	726M
Total Cash And Short Term Investments	165B	84.19B	76.52B	65.31B	86.4B
Accounts Receivable, Total	574B	503B	540B	506B	493B
Other Receivables	223B	-	-	-	-
Total Receivables	796B	503B	540B	506B	493B
Inventory	244B	254B	249B	279B	291B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	66.57B	87.34B	51.41B	53.2B	57.51B
Total Current Assets	1,272B	929B	917B	904B	929B
Net Property Plant And Equipment	77.89B	87.12B	88.94B	89.94B	86.73B
Long-term Investments	341B	116B	128B	139B	175B
Other Intangibles, Total	10.56B	10.81B	10.01B	10.09B	9.28B
Loans Receivable Long-Term	12.44B	13.81B	20.03B	19.89B	9.52B
Deferred Tax Assets Long-Term	1.29B	1.26B	3.13B	3.28B	3.51B
Other Long-Term Assets, Total	2M	-	2M	1M	1M
Total Assets	1,715B	1,158B	1,167B	1,166B	1,213B
Liabilities
Accounts Payable, Total	422B	316B	351B	308B	330B
Accrued Expenses, Total	4.22B	4.36B	3.73B	5.5B	4.79B
Short-term Borrowings	499B	113B	72.08B	81.12B	68.47B
Current Portion of Long-Term Debt	10B	10B	-	15B	10B
Current Income Taxes Payable	16.1B	14.82B	2.6B	12.32B	4.97B
Other Current Liabilities	288B	101B	57.42B	39.35B	49.32B
Total Current Liabilities	1,239B	559B	487B	462B	467B
Long-Term Debt	211B	255B	290B	282B	273B
Pension & Other Post Retirement Benefits	4.45B	4.28B	1.35B	1.76B	2.79B
Deferred Tax Liability Non Current	7.24B	10.89B	16.78B	14.66B	18.96B
Other Non Current Liabilities	13.7B	19.94B	15.58B	16.73B	17.41B
Total Liabilities	1,475B	849B	810B	776B	780B
Common Stock, Total	45.65B	45.65B	45.65B	45.65B	45.65B
Additional Paid In Capital	26M	26M	1.3B	1.38B	1.47B
Retained Earnings	180B	229B	261B	298B	329B
Treasury Stock	-3.73B	-3.73B	-3.66B	-5.59B	-15.51B
Comprehensive Income and Other	15.05B	32.26B	46.96B	43.36B	67.27B
Total Common Equity	237B	303B	351B	383B	427B
Minority Interest	3.38B	5.68B	5.55B	6.41B	5.47B
Total Equity	240B	309B	357B	389B	433B
Total Liabilities And Equity	1,715B	1,158B	1,167B	1,166B	1,213B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	203M	203M	202M	202M	194M
ECS Total Common Shares Outstanding	203M	203M	203M	202M	195M
Book Value / Share	1.17K	1.49K	1.73K	1.9K	2.2K
Tangible Book Value	227B	292B	341B	373B	418B
Tangible Book Value Per Share	1.12K	1.44K	1.68K	1.85K	2.15K
Total Debt	720B	378B	362B	378B	352B
Net Debt	554B	294B	286B	312B	265B
Debt Equivalent of Unfunded Proj. Benefit Obligation	4.45B	4.28B	-2.49B	-1.89B	-6.2B
Minority Interest, Total (Incl. Fin. Div)	3.38B	5.68B	5.55B	6.41B	5.47B
Inventories - Raw Materials, Total	37.31B	35.69B	26.47B	29.72B	26.38B
Inventories - Work In Process, Total	2.23B	2.61B	2.55B	3.68B	3.3B
Inventories - Finished Goods, Total	204B	216B	220B	246B	262B
Inventories - Others	2M	1M	1M	1M	2M
Full Time Employees	5.12K	5.44K	5.51K	5.69K	6.08K
Accumulated Allowance for Doubtful Accounts (Supple)	1.58B	1.3B	1.69B	1.78B	1.96B

Fiscal Period: March	2022	2023	2024	2025	2026
Net Income	63.14B	75.96B	53.89B	65.49B	52.78B
Depreciation & Amortization - CF	6.12B	7.37B	9.36B	9.76B	9.25B
Amortization of Goodwill and Intangible Assets - (CF)	392M	193M	78M	288M	569M
Depreciation & Amortization, Total	6.52B	7.56B	9.44B	10.05B	9.82B
(Gain) Loss From Sale Of Asset	-	-14.42B	-1.2B	105M	175M
(Gain) Loss on Sale of Investments - (CF)	-394M	-655M	-4.41B	-4.85B	-813M
(Income) Loss On Equity Investments - (CF)	-3.32B	-4.19B	-3.53B	-2.6B	1.67B
Other Operating Activities, Total	-11.39B	-26.36B	-27.11B	-9.82B	-22.73B
Change In Accounts Receivable	-174B	88.7B	-29.74B	40.57B	18.39B
Change In Inventories	-112B	6.71B	11.52B	-24.2B	-5.16B
Change In Accounts Payable	176B	-83.25B	-2.72B	-57.64B	15.64B
Change in Other Net Operating Assets	-226B	234B	12.06B	-6.96B	4.55B
Cash from Operations	-281B	284B	18.19B	10.13B	74.33B
Capital Expenditure	-6.29B	-12.86B	-9.63B	-8.49B	-3.86B
Sale of Property, Plant, and Equipment	43M	17.57B	1.89B	64M	1.82B
Cash Acquisitions	-	-7.4B	-	-5.09B	-
Divestitures	-	-	-	3.74B	-
Investment in Marketable and Equity Securities, Total	-3.65B	-1.73B	7.06B	-13.88B	-11.6B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-1.83B	-1.09B	4.18B	2.29B	4.31B
Other Investing Activities, Total	-3.27B	-1.03B	-2.48B	-475M	-1.52B
Cash from Investing	-14.99B	-6.54B	1.01B	-21.84B	-10.84B
Short Term Debt Issued, Total	411B	-	-	818M	-
Long-Term Debt Issued, Total	41B	70.54B	112B	36.65B	30B
Total Debt Issued	452B	70.54B	112B	37.47B	30B
Short Term Debt Repaid, Total	-	-368B	-48.5B	-	-10.78B
Long-Term Debt Repaid, Total	-40.85B	-49.19B	-82.13B	-26.73B	-45.62B
Total Debt Repaid	-40.85B	-417B	-131B	-26.73B	-56.4B
Repurchase of Common Stock	-	-	-	-2B	-10.02B
Common Dividends Paid	-3.26B	-4.07B	-6.7B	-8.29B	-9.81B
Common & Preferred Stock Dividends Paid	-3.26B	-4.07B	-6.7B	-8.29B	-9.81B
Other Financing Activities, Total	-1.2B	-1.32B	-903M	-147M	-1.41B
Cash from Financing	407B	-352B	-26.32B	293M	-47.64B
Foreign Exchange Rate Adjustments	1.26B	-7.28B	-827M	-1.07B	1.59B
Miscellaneous Cash Flow Adjustments	1.85B	464M	287M	1.29B	2.8B
Net Change in Cash	114B	-80.96B	-7.66B	-11.2B	20.24B
Supplemental Items
Cash Interest Paid	4.16B	9.79B	8.23B	8.95B	7.73B
Cash Income Tax Paid (Refund)	11.29B	26.43B	26.81B	9.54B	22.78B
Levered Free Cash Flow	-74.47B	-3.18B	7.94B	-12.11B	56.98B
Unlevered Free Cash Flow	-71.92B	3.05B	13.41B	-6.66B	61.71B
Change In Net Working Capital	111B	31.72B	17.48B	46.67B	-19.22B
Net Debt Issued / Repaid	411B	-346B	-18.72B	10.74B	-26.4B

Fiscal Period: March	2022	2023	2024	2025	2026
Profitability
Return on Assets	3.07	2.79	2.67	3.3	3.07
Return on Total Capital	5.37	4.86	4.42	5.18	4.71
Return On Equity %	20.54	19.2	11.83	12.37	9.1
Return on Common Equity	20.46	19.07	11.74	12.39	9.44
Margin Analysis
Gross Profit Margin %	5.5	4.82	4.93	5.5	5.3
SG&A Margin	2.62	2.38	2.88	3.1	3.1
EBITDA Margin %	3.18	2.69	2.43	2.8	2.56
EBITA Margin %	2.9	2.41	2.05	2.42	2.22
EBIT Margin %	2.88	2.4	2.04	2.41	2.19
Income From Continuing Operations Margin %	2.05	1.98	1.62	1.81	1.4
Net Income Margin %	2.02	1.93	1.58	1.78	1.44
Net Avail. For Common Margin %	2.02	1.93	1.58	1.78	1.44
Normalized Net Income Margin	1.77	1.46	1.2	1.44	1.26
Levered Free Cash Flow Margin	-3.44	-0.12	0.33	-0.47	2.14
Unlevered Free Cash Flow Margin	-3.32	0.11	0.55	-0.26	2.32
Asset Turnover
Asset Turnover	1.7	1.86	2.09	2.19	2.24
Fixed Assets Turnover	28.53	32.34	27.63	28.56	30.14
Receivables Turnover (Average Receivables)	4.53	4.95	4.66	4.89	5.33
Inventory Turnover (Average Inventory)	11.03	10.21	9.19	9.13	8.84
Short Term Liquidity
Current Ratio	1.03	1.66	1.89	1.96	1.99
Quick Ratio	0.78	1.05	1.27	1.24	1.24
Operating Cash Flow to Current Liabilities	-0.23	0.51	0.04	0.02	0.16
Days Sales Outstanding (Average Receivables)	80.63	73.67	78.48	74.71	68.5
Days Outstanding Inventory (Average Inventory)	33.11	35.75	39.85	39.97	41.29
Average Days Payable Outstanding	55.47	52.76	52.83	49.23	45.95
Cash Conversion Cycle (Average Days)	58.27	56.66	65.5	65.45	63.84
Long Term Solvency
Total Debt/Equity	299.33	122.4	101.48	96.96	81.27
Total Debt / Total Capital	74.96	55.04	50.37	49.23	44.83
LT Debt/Equity	87.69	82.53	81.27	72.28	63.15
Long-Term Debt / Total Capital	21.96	37.11	40.34	36.7	34.84
Total Liabilities / Total Assets	85.98	73.33	69.43	66.59	64.3
EBIT / Interest Expense	15.31	6.43	5.68	7.06	7.72
EBITDA / Interest Expense	16.91	7.19	6.76	8.21	9.01
(EBITDA - Capex) / Interest Expense	15.37	5.9	5.66	7.24	8.5
Total Debt / EBITDA	10.45	5.27	6.12	5.28	5.15
Net Debt / EBITDA	8.05	4.1	4.83	4.36	3.89
Total Debt / (EBITDA - Capex)	11.5	6.43	7.31	5.99	5.46
Net Debt / (EBITDA - Capex)	8.86	5	5.76	4.95	4.12
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	23.98	23.3	-8.85	5.04	4.23
Gross Profit, 1 Yr. Growth %	48.9	8.01	-6.77	17.32	0.36
EBITDA, 1 Yr. Growth %	95.8	4.04	-17.45	21	-4.63
EBITA, 1 Yr. Growth %	111.31	2.45	-22.55	24.14	-4.54
EBIT, 1 Yr. Growth %	113.35	2.79	-22.44	23.75	-5.02
Earnings From Cont. Operations, 1 Yr. Growth %	123.6	18.78	-25.37	17.22	-18.93
Net Income, 1 Yr. Growth %	122.34	18.08	-25.41	18.39	-15.87
Normalized Net Income, 1 Yr. Growth %	116.17	1.36	-24.93	25.52	-8.62
Diluted EPS Before Extra, 1 Yr. Growth %	122.34	18.09	-25.45	19.13	-14.22
Accounts Receivable, 1 Yr. Growth %	50.12	-12.31	7.25	-6.25	-2.49
Inventory, 1 Yr. Growth %	91.24	4.25	-1.76	11.9	4.37
Net Property, Plant and Equip., 1 Yr. Growth %	5.53	11.85	2.1	1.12	-3.58
Total Assets, 1 Yr. Growth %	108.03	-32.51	0.8	-0.1	4.02
Tangible Book Value, 1 Yr. Growth %	24.95	29.02	16.72	9.31	12.13
Common Equity, 1 Yr. Growth %	25.32	27.84	15.86	9.07	11.6
Cash From Operations, 1 Yr. Growth %	-1.58K	-201.24	-93.6	-44.3	633.7
Capital Expenditures, 1 Yr. Growth %	-0.71	104.52	-25.11	-11.79	-54.54
Levered Free Cash Flow, 1 Yr. Growth %	-447.2	-95.72	-349.18	-252.56	-570.61
Unlevered Free Cash Flow, 1 Yr. Growth %	-402.19	-104.23	340.16	-149.68	-1.03K
Dividend Per Share, 1 Yr. Growth %	66.67	30	42.31	21.62	544.44
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	6.51	23.64	6.01	-2.15	4.64
Gross Profit, 2 Yr. CAGR %	22.1	26.82	0.35	4.59	8.51
EBITDA, 2 Yr. CAGR %	44.28	42.73	-7.33	-0.06	7.42
EBITA, 2 Yr. CAGR %	50.13	47.14	-10.92	-1.95	8.86
EBIT, 2 Yr. CAGR %	51.06	48.09	-10.71	-2.03	8.42
Earnings From Cont. Operations, 2 Yr. CAGR %	31.83	62.97	-5.85	-6.47	-2.52
Net Income, 2 Yr. CAGR %	78.6	62.03	-6.15	-6.03	-0.2
Normalized Net Income, 2 Yr. CAGR %	209.8	48.02	-12.77	-2.93	7.1
Diluted EPS Before Extra, 2 Yr. CAGR %	78.6	62.04	-6.17	-5.76	1.09
Accounts Receivable, 2 Yr. CAGR %	25.94	14.74	-3.02	0.27	-4.39
Inventory, 2 Yr. CAGR %	38.25	41.2	1.2	4.85	8.07
Net Property, Plant and Equip., 2 Yr. CAGR %	1.8	8.64	6.86	1.61	-1.25
Total Assets, 2 Yr. CAGR %	46.58	18.49	-17.52	0.35	1.94
Tangible Book Value, 2 Yr. CAGR %	20.01	26.97	22.72	12.95	10.71
Common Equity, 2 Yr. CAGR %	20.37	26.57	21.7	12.41	10.32
Cash From Operations, 2 Yr. CAGR %	94.44	286.73	-74.55	-81.12	102.16
Capital Expenditures, 2 Yr. CAGR %	-8.44	42.5	23.76	-18.72	-36.68
Levered Free Cash Flow, 2 Yr. CAGR %	18.98	-61.47	-67.36	94.97	167.95
Unlevered Free Cash Flow, 2 Yr. CAGR %	13.29	-64.23	-56.83	47.87	114.54
Dividend Per Share, 2 Yr. CAGR %	0	47.2	36.01	31.56	179.96
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	1.42	11.84	11.69	5.69	-0.07
Gross Profit, 3 Yr. CAGR %	14.53	17.21	14.46	5.72	3.16
EBITDA, 3 Yr. CAGR %	26.43	29.38	18.92	1.29	-1.61
EBITA, 3 Yr. CAGR %	28.5	32.18	18.8	-0.5	-2.82
EBIT, 3 Yr. CAGR %	29.22	32.87	19.37	-0.45	-3.04
Earnings From Cont. Operations, 3 Yr. CAGR %	47.54	27.33	25.62	1.29	-10.82
Net Income, 3 Yr. CAGR %	46.35	55.59	25.11	1.41	-9.43
Normalized Net Income, 3 Yr. CAGR %	37.7	113.47	18.04	-1.52	-4.87
Diluted EPS Before Extra, 3 Yr. CAGR %	46.35	55.59	25.09	1.6	-8.67
Accounts Receivable, 3 Yr. CAGR %	8.24	11.63	12.19	-4.11	-0.66
Inventory, 3 Yr. CAGR %	20.1	25.83	25.12	4.65	4.69
Net Property, Plant and Equip., 3 Yr. CAGR %	4.19	5.04	6.42	4.91	-0.15
Total Assets, 3 Yr. CAGR %	22.49	13.19	12.27	-12.08	1.56
Tangible Book Value, 3 Yr. CAGR %	7.34	22.94	23.46	18.08	12.68
Common Equity, 3 Yr. CAGR %	8	22.81	22.9	17.34	12.14
Cash From Operations, 3 Yr. CAGR %	163.09	56.42	-1.45	-66.95	-36.05
Capital Expenditures, 3 Yr. CAGR %	-6.61	19.68	15	10.55	-33.04
Levered Free Cash Flow, 3 Yr. CAGR %	127.97	-60.73	-28.21	-45.42	161.54
Unlevered Free Cash Flow, 3 Yr. CAGR %	184.36	-62.12	-17.41	-54.76	172.61
Dividend Per Share, 3 Yr. CAGR %	-12.64	9.14	45.55	31.04	123.43
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.41	8.3	3.23	6.02	8.81
Gross Profit, 5 Yr. CAGR %	13.03	12.23	8.63	11.99	12.04
EBITDA, 5 Yr. CAGR %	20.06	18.25	11.66	16.69	14.18
EBITA, 5 Yr. CAGR %	21.56	19.17	10.98	17.29	14.72
EBIT, 5 Yr. CAGR %	21.63	19.58	11.46	17.62	14.86
Earnings From Cont. Operations, 5 Yr. CAGR %	21.99	25.23	23.28	12.55	13.5
Net Income, 5 Yr. CAGR %	21.66	24.31	22.52	27.17	14.3
Normalized Net Income, 5 Yr. CAGR %	21.94	19.21	14.72	55.75	13.54
Diluted EPS Before Extra, 5 Yr. CAGR %	21.77	24.31	22.51	27.32	14.87
Accounts Receivable, 5 Yr. CAGR %	11.15	3.43	3.59	6.94	5.24
Inventory, 5 Yr. CAGR %	17.02	13.49	12.15	16.98	18
Net Property, Plant and Equip., 5 Yr. CAGR %	5.54	6.21	5.25	3.66	3.28
Total Assets, 5 Yr. CAGR %	19.83	6.08	4.57	7.86	8.02
Tangible Book Value, 5 Yr. CAGR %	6.11	9.65	13.24	18.84	18.19
Common Equity, 5 Yr. CAGR %	6.83	10.05	13.28	18.54	17.7
Cash From Operations, 5 Yr. CAGR %	134.5	70.45	3.36	-32.86	31.36
Capital Expenditures, 5 Yr. CAGR %	11.45	22.56	4.52	2.52	-9.42
Levered Free Cash Flow, 5 Yr. CAGR %	34.43	-28.68	4.77	-25.46	21.58
Unlevered Free Cash Flow, 5 Yr. CAGR %	36.16	-27.52	33.79	-34.69	20.99
Dividend Per Share, 5 Yr. CAGR %	1.03	2.48	4.28	17.61	89.08