Cash flow Keyence Corporation

Equities

6861

JP3236200006

Electronic Equipment & Parts

Market Closed - Japan Exchange Other stock markets 06:30:00 13/01/2026 GMT			5-day change	1st Jan Change
58,390.00 ^JPY	+1.25%		+2.12%	+3.02%

12-18	JPMorgan Japanese beats benchmark amid exposure to new growth areas	AN
11-07	Jefferies Adjusts Keyence's Price Target to 71,900 Yen From 72,700 Yen, Keeps at Buy	MT

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Published financial data: KEYENCE CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	538B	755B	922B	967B	1,059B
Total Revenues	538B	755B	922B	967B	1,059B
Cost of Goods Sold, Total	97.25B	134B	168B	165B	171B
Gross Profit	441B	621B	755B	803B	888B
Selling General & Admin Expenses, Total	148B	185B	234B	282B	309B
R&D Expenses	16.08B	17.87B	21.66B	25.18B	28.86B
Other Operating Expenses, Total	164B	203B	256B	307B	338B
Operating Income	277B	418B	499B	495B	550B
Interest And Investment Income	754M	561M	2.13B	5.46B	8.97B
Net Interest Expenses	754M	561M	2.13B	5.46B	8.97B
Income (Loss) On Equity Invest.	4.53B	4.98B	5.62B	5.37B	5.31B
Currency Exchange Gains (Loss)	3.38B	6.7B	5.26B	12.83B	-4.22B
Other Non Operating Income (Expenses)	1.18B	956M	897M	615M	1.18B
EBT, Excl. Unusual Items	287B	431B	513B	519B	561B
Gain (Loss) On Sale Of Investments	-	-	-	-	-
EBT, Incl. Unusual Items	287B	431B	513B	519B	561B
Income Tax Expense	89.3B	128B	150B	150B	162B
Earnings From Continuing Operations	197B	303B	363B	370B	399B
Net Income to Company	197B	303B	363B	370B	399B
Net Income - (IS)	197B	303B	363B	370B	399B
Net Income to Common Incl Extra Items	197B	303B	363B	370B	399B
Net Income to Common Excl. Extra Items	197B	303B	363B	370B	399B
Per Share Items
Net EPS - Basic	813.47	1.25K	1.5K	1.52K	1.64K
Basic EPS - Continuing Operations	813.47	1.25K	1.5K	1.52K	1.64K
Basic Weighted Average Shares Outstanding	243M	243M	243M	243M	243M
Net EPS - Diluted	813.47	1.25K	1.5K	1.52K	1.64K
Diluted EPS - Continuing Operations	813.47	1.25K	1.5K	1.52K	1.64K
Diluted Weighted Average Shares Outstanding	243M	243M	243M	243M	243M
Normalized Basic EPS	738.56	1.11K	1.32K	1.34K	1.45K
Normalized Diluted EPS	738.56	1.11K	1.32K	1.34K	1.45K
Dividend Per Share	200	200	300	300	350
Payout Ratio	24.59	15.99	16.7	19.68	19.77
Supplemental Items
EBITDA	284B	427B	510B	509B	565B
EBITA	277B	418B	499B	495B	550B
EBIT	277B	418B	499B	495B	550B
Effective Tax Rate - (Ratio)	31.16	29.65	29.22	28.82	28.94
Total Current Taxes	-	-	150B	145B	-
Total Deferred Taxes	-	-	183M	4.2B	-
Normalized Net Income	179B	270B	321B	325B	351B
Non-Cash Pension Expense	1.9B	1.95B	-	-	3.12B
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	16.08B	17.87B	21.66B	25.18B	28.86B

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	401B	464B	344B	406B	579B
Short Term Investments	529B	540B	596B	727B	640B
Total Cash And Short Term Investments	930B	1,005B	940B	1,133B	1,219B
Accounts Receivable, Total	186B	247B	297B	306B	319B
Total Receivables	186B	247B	297B	306B	319B
Inventory	34.94B	62.07B	87.39B	77.61B	77.89B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	6.81B	8.56B	11.62B	15.3B	16.58B
Total Current Assets	1,158B	1,323B	1,336B	1,532B	1,633B
Gross Property Plant And Equipment	-	-	138B	161B	-
Accumulated Depreciation	-	-	-71.13B	-84.8B	-
Net Property Plant And Equipment	23.81B	26.38B	67.3B	75.87B	76.92B
Long-term Investments	817B	960B	1,207B	1,332B	1,555B
Other Intangibles, Total	4.25B	3.52B	-	-	6.34B
Deferred Tax Assets Long-Term	6.57B	12B	12.56B	9.48B	17.9B
Other Long-Term Assets, Total	2M	1M	27.74B	15.44B	1M
Total Assets	2,010B	2,324B	2,650B	2,965B	3,289B
Liabilities
Accounts Payable, Total	10.54B	15.91B	18.38B	13.72B	14.89B
Accrued Expenses, Total	11.3B	14.36B	15.7B	16.84B	18.13B
Current Income Taxes Payable	51.34B	89.67B	81.71B	71.23B	91.48B
Other Current Liabilities	21.34B	26.61B	33.47B	43.57B	43.53B
Total Current Liabilities	94.52B	147B	149B	145B	168B
Other Non Current Liabilities	2.51B	3.9B	9.53B	13.24B	12.63B
Total Liabilities	97.03B	150B	159B	159B	181B
Common Stock, Total	30.64B	30.64B	30.64B	30.64B	30.64B
Additional Paid In Capital	30.54B	30.54B	30.54B	30.54B	30.54B
Retained Earnings	1,847B	2,102B	2,404B	2,701B	3,021B
Treasury Stock	-3.76B	-3.78B	-3.8B	-3.82B	-3.84B
Comprehensive Income and Other	8.5B	14.41B	30.44B	48.14B	30.68B
Total Common Equity	1,913B	2,174B	2,492B	2,806B	3,109B
Total Equity	1,913B	2,174B	2,492B	2,806B	3,109B
Total Liabilities And Equity	2,010B	2,324B	2,650B	2,965B	3,289B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	243M	243M	243M	243M	243M
ECS Total Common Shares Outstanding	243M	243M	243M	243M	243M
Book Value / Share	7.89K	8.96K	10.27K	11.57K	12.82K
Tangible Book Value	1,909B	2,170B	2,492B	2,806B	3,102B
Tangible Book Value Per Share	7.87K	8.95K	10.27K	11.57K	12.79K
Total Debt	0	0	0	0	0
Net Debt	-930B	-1,005B	-940B	-1,133B	-1,219B
Equity Method Investments, Total	-	-	34.63B	39.41B	-
Account Code - Inventory Valuation	-	-	6	6	-
Inventories - Raw Materials, Total	10.61B	25.68B	37.09B	33.13B	30.2B
Inventories - Work In Process, Total	5.76B	9.17B	10.35B	8.64B	9.97B
Inventories - Finished Goods, Total	18.56B	27.22B	39.95B	35.84B	37.72B
Inventories - Others	-	1M	-	-	1M
Land - (BS)	-	-	35.66B	35.66B	-
Buildings, Total	-	-	26.66B	29.99B	-
Machinery, Total	-	-	54.1B	61.76B	-
Full Time Employees	8.38K	8.96K	10.58K	12.29K	12.26K
Accumulated Allowance for Doubtful Accounts (Supple)	466M	538M	1.16B	1.38B	1.43B

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	287B	431B	363B	370B	561B
Depreciation & Amortization - CF	7.56B	8.62B	11.52B	13.77B	15.19B
Depreciation & Amortization, Total	7.56B	8.62B	11.52B	13.77B	15.19B
(Gain) Loss on Sale of Investments - (CF)	-	-	-16M	-	-
(Income) Loss On Equity Investments - (CF)	-4.53B	-4.98B	-5.62B	-5.37B	-5.31B
Other Operating Activities, Total	-75.32B	-96.05B	-8.87B	-6.14B	-149B
Change In Accounts Receivable	-21.97B	-53.1B	-36.74B	4.71B	-18.57B
Change In Inventories	-943M	-26.26B	-23.96B	11.28B	-756M
Change In Accounts Payable	920M	5.33B	2.36B	-4.64B	1.16B
Change in Other Net Operating Assets	345M	6.67B	999M	4.68B	6.11B
Cash from Operations	193B	271B	303B	388B	410B
Capital Expenditure	-4.36B	-6.16B	-39.34B	-12.49B	-14.34B
Investment in Marketable and Equity Securities, Total	-172B	-3.92B	-243B	-227B	-263B
Other Investing Activities, Total	-701M	-1.05B	-1.51B	-2.94B	-2.97B
Cash from Investing	-177B	-11.13B	-283B	-243B	-281B
Repurchase of Common Stock	-26M	-22M	-10M	-23M	-19M
Common Dividends Paid	-48.5B	-48.5B	-60.63B	-72.76B	-78.82B
Common & Preferred Stock Dividends Paid	-48.5B	-48.5B	-60.63B	-72.76B	-78.82B
Other Financing Activities, Total	-1M	-1.29B	-3.02B	-3.53B	-4.59B
Cash from Financing	-48.53B	-49.82B	-63.67B	-76.31B	-83.43B
Foreign Exchange Rate Adjustments	338M	-4.23B	-7.64B	-6.75B	169M
Miscellaneous Cash Flow Adjustments	1M	-2M	-2M	-2M	-
Net Change in Cash	-33.03B	206B	-52.16B	62.06B	45.65B
Supplemental Items
Cash Income Tax Paid (Refund)	75.64B	97.21B	-	156B	149B
Levered Free Cash Flow	172B	226B	209B	303B	353B
Unlevered Free Cash Flow	172B	226B	209B	303B	353B
Change In Net Working Capital	4.31B	37.74B	74.93B	7.31B	-8.38B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	9	12.06	12.54	11.02	10.99
Return on Total Capital	9.42	12.79	13.37	11.68	11.62
Return On Equity %	10.75	14.85	15.56	13.95	13.48
Return on Common Equity	10.75	14.85	15.56	13.95	13.48
Margin Analysis
Gross Profit Margin %	81.93	82.26	81.82	82.96	83.81
SG&A Margin	27.51	24.53	25.38	29.19	29.18
EBITDA Margin %	52.83	56.5	55.34	52.6	53.34
EBITA Margin %	51.43	55.36	54.09	51.18	51.91
EBIT Margin %	51.43	55.36	54.09	51.18	51.91
Income From Continuing Operations Margin %	36.66	40.17	39.35	38.21	37.64
Net Income Margin %	36.66	40.17	39.35	38.21	37.64
Net Avail. For Common Margin %	36.66	40.17	39.35	38.21	37.64
Normalized Net Income Margin	33.29	35.69	34.75	33.55	33.1
Levered Free Cash Flow Margin	31.94	29.93	22.66	31.36	33.31
Unlevered Free Cash Flow Margin	31.94	29.93	22.66	31.36	33.31
Asset Turnover
Asset Turnover	0.28	0.35	0.37	0.34	0.34
Fixed Assets Turnover	21.8	30.09	19.69	13.51	13.86
Receivables Turnover (Average Receivables)	3.09	3.48	3.39	3.21	3.39
Inventory Turnover (Average Inventory)	2.83	2.76	2.24	2	2.2
Short Term Liquidity
Current Ratio	12.25	9.02	8.95	10.54	9.72
Quick Ratio	11.81	8.54	8.29	9.9	9.15
Operating Cash Flow to Current Liabilities	2.04	1.85	2.03	2.67	2.44
Days Sales Outstanding (Average Receivables)	118.25	104.84	107.63	114.04	107.7
Days Outstanding Inventory (Average Inventory)	128.77	132.14	162.66	183.24	165.53
Average Days Payable Outstanding	37.35	29.96	32.43	37.9	30.41
Cash Conversion Cycle (Average Days)	209.67	207.02	237.86	259.38	242.82
Long Term Solvency
Total Liabilities / Total Assets	4.83	6.47	5.99	5.35	5.49
Net Debt / EBITDA	-3.27	-2.35	-1.84	-2.23	-2.16
Net Debt / (EBITDA - Capex)	-3.32	-2.39	-2	-2.28	-2.21
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-2.48	40.33	22.15	4.86	9.5
Gross Profit, 1 Yr. Growth %	-2.34	40.9	21.5	6.33	10.62
EBITDA, 1 Yr. Growth %	-0.46	50.07	19.63	-0.32	11.04
EBITA, 1 Yr. Growth %	-0.31	51.05	19.34	-0.78	11.06
EBIT, 1 Yr. Growth %	-0.31	51.05	19.34	-0.78	11.06
Earnings From Cont. Operations, 1 Yr. Growth %	-0.42	53.76	19.65	1.84	7.85
Net Income, 1 Yr. Growth %	-0.42	53.76	19.65	1.84	7.85
Normalized Net Income, 1 Yr. Growth %	2.26	50.47	18.92	1.26	8.03
Diluted EPS Before Extra, 1 Yr. Growth %	-0.42	53.76	19.65	1.84	7.85
Accounts Receivable, 1 Yr. Growth %	14.96	32.65	19.92	3.21	4.16
Inventory, 1 Yr. Growth %	3.75	77.65	40.79	-11.19	0.36
Net Property, Plant and Equip., 1 Yr. Growth %	-6.84	10.82	155.14	12.72	1.39
Total Assets, 1 Yr. Growth %	9.47	15.63	14.04	11.86	10.94
Tangible Book Value, 1 Yr. Growth %	8.88	13.7	14.63	12.62	10.55
Common Equity, 1 Yr. Growth %	8.8	13.63	14.63	12.62	10.77
Cash From Operations, 1 Yr. Growth %	-5.3	40.92	11.48	28.18	5.57
Capital Expenditures, 1 Yr. Growth %	-47.13	41.4	538.51	-68.25	14.81
Levered Free Cash Flow, 1 Yr. Growth %	-7.63	31.5	-	45.1	16.31
Unlevered Free Cash Flow, 1 Yr. Growth %	-7.63	31.5	-	45.1	16.31
Dividend Per Share, 1 Yr. Growth %	33.33	0	50	0	16.67
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.26	16.98	-	13.18	7.16
Gross Profit, 2 Yr. CAGR %	-4.51	17.3	-	13.66	8.45
EBITDA, 2 Yr. CAGR %	-6.35	22.22	-	9.2	5.21
EBITA, 2 Yr. CAGR %	-6.69	22.71	-	8.82	4.97
EBIT, 2 Yr. CAGR %	-6.69	22.71	-	8.82	4.97
Earnings From Cont. Operations, 2 Yr. CAGR %	-6.6	23.74	-	10.39	4.8
Net Income, 2 Yr. CAGR %	-6.6	23.74	-	10.39	4.8
Normalized Net Income, 2 Yr. CAGR %	-5.34	24.05	-	9.74	4.59
Diluted EPS Before Extra, 2 Yr. CAGR %	-6.6	23.74	-	10.39	4.8
Accounts Receivable, 2 Yr. CAGR %	5.04	23.49	-	11.25	3.68
Inventory, 2 Yr. CAGR %	-4.55	35.76	-	11.82	-5.59
Net Property, Plant and Equip., 2 Yr. CAGR %	-1.31	1.61	-	69.59	6.91
Total Assets, 2 Yr. CAGR %	9.3	12.51	-	12.95	11.4
Tangible Book Value, 2 Yr. CAGR %	9.82	11.26	-	13.62	11.58
Common Equity, 2 Yr. CAGR %	9.74	11.19	-	13.62	11.7
Cash From Operations, 2 Yr. CAGR %	-4.08	15.52	-	19.54	16.33
Capital Expenditures, 2 Yr. CAGR %	-23.06	-13.54	-	42.38	-39.62
Levered Free Cash Flow, 2 Yr. CAGR %	-0.49	10.21	-	-	29.91
Unlevered Free Cash Flow, 2 Yr. CAGR %	-0.49	10.21	-	-	29.91
Dividend Per Share, 2 Yr. CAGR %	41.42	15.47	-	22.47	8.01
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	0.71	8.75	-	-	11.94
Gross Profit, 3 Yr. CAGR %	0.63	8.71	-	-	12.64
EBITDA, 3 Yr. CAGR %	-1.5	9.59	-	-	9.81
EBITA, 3 Yr. CAGR %	-1.87	9.56	-	-	9.56
EBIT, 3 Yr. CAGR %	-1.87	9.56	-	-	9.56
Earnings From Cont. Operations, 3 Yr. CAGR %	-2.15	10.29	-	-	9.53
Net Income, 3 Yr. CAGR %	-2.15	10.29	-	-	9.53
Normalized Net Income, 3 Yr. CAGR %	-1.39	10.47	-	-	9.16
Diluted EPS Before Extra, 3 Yr. CAGR %	-2.15	10.29	-	-	9.53
Accounts Receivable, 3 Yr. CAGR %	5.26	13.54	-	-	8.83
Inventory, 3 Yr. CAGR %	0.09	17.41	-	-	7.86
Net Property, Plant and Equip., 3 Yr. CAGR %	3.57	2.58	-	-	42.87
Total Assets, 3 Yr. CAGR %	10.58	11.37	-	-	12.28
Tangible Book Value, 3 Yr. CAGR %	11.53	11.1	-	-	12.59
Common Equity, 3 Yr. CAGR %	11.47	11.02	-	-	12.67
Cash From Operations, 3 Yr. CAGR %	-1.72	9.04	-	-	14.69
Capital Expenditures, 3 Yr. CAGR %	-13.66	-5.75	-	-	32.52
Levered Free Cash Flow, 3 Yr. CAGR %	0.87	9.2	-	-	16.01
Unlevered Free Cash Flow, 3 Yr. CAGR %	0.87	9.2	-	-	16.01
Dividend Per Share, 3 Yr. CAGR %	58.74	25.99	-	-	20.51
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.25	12.35	-	-	13.93
Gross Profit, 5 Yr. CAGR %	7.53	12.73	-	-	14.48
EBITDA, 5 Yr. CAGR %	6.75	13.15	-	-	14.62
EBITA, 5 Yr. CAGR %	6.57	13.06	-	-	14.64
EBIT, 5 Yr. CAGR %	6.57	13.06	-	-	14.64
Earnings From Cont. Operations, 5 Yr. CAGR %	7.54	13.52	-	-	15.01
Net Income, 5 Yr. CAGR %	7.54	13.52	-	-	15.01
Normalized Net Income, 5 Yr. CAGR %	7.08	13.27	-	-	14.89
Diluted EPS Before Extra, 5 Yr. CAGR %	7.54	13.52	-	-	15.01
Accounts Receivable, 5 Yr. CAGR %	10.64	14.15	-	-	14.48
Inventory, 5 Yr. CAGR %	8.39	20.59	-	-	18.26
Net Property, Plant and Equip., 5 Yr. CAGR %	6.47	7.54	-	-	24.66
Total Assets, 5 Yr. CAGR %	12.77	13.19	-	-	12.37
Tangible Book Value, 5 Yr. CAGR %	12.9	12.93	-	-	12.09
Common Equity, 5 Yr. CAGR %	12.9	12.91	-	-	12.07
Cash From Operations, 5 Yr. CAGR %	12.59	10.85	-	-	15.02
Capital Expenditures, 5 Yr. CAGR %	5.33	5.18	-	-	11.71
Levered Free Cash Flow, 5 Yr. CAGR %	11.52	12	-	-	13.65
Unlevered Free Cash Flow, 5 Yr. CAGR %	11.52	12	-	-	13.65
Dividend Per Share, 5 Yr. CAGR %	31.95	31.95	-	-	18.47