Financials Obayashi Corporation

Stocks

1802

JP3190000004

Construction & Engineering

Market Closed - Japan Exchange Other stock markets 07:30:00 17/06/2026 BST			5-day change	1st Jan Change
3,197.00 ^JPY	+0.60%		+3.00%	-2.20%

05-13	Obayashi Corporation Announces Dividend for the Fiscal Year End March 31, 2026, Payable on June 30, 2026; Provides Dividend Guidance for the Second Quarter End for the Fiscal Year Ending March 31, 2027	CI
05-13	Obayashi Corporation Provides Dividend Guidance for the Fiscal Year End for the Fiscal Year Ending March 31, 2027	CI

Projected Income Statement: Obayashi Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	1,766,893	1,922,884	1,983,888	2,325,162	2,620,101	2,586,258	2,878,916	3,018,782
Change	-	8.83%	3.17%	17.2%	12.68%	-1.29%	11.32%	4.86%
EBITDA ¹	143,199	61,742	117,741	106,498	175,899	231,031	227,148	255,223
Change	-	-56.88%	90.7%	-9.55%	65.17%	31.34%	-1.68%	12.36%
EBIT ¹	123,161	41,051	93,800	79,381	143,442	194,678	189,435	216,659
Change	-	-66.67%	128.5%	-15.37%	80.7%	35.72%	-2.69%	14.37%
Interest Paid ¹	-1,866	-2,019	-2,485	-3,530	-4,725	-5,311	-5,750	-5,900
Earnings before Tax (EBT) ¹	134,573	56,281	113,706	107,106	211,040	249,410	235,980	249,780
Change	-	-58.18%	102.03%	-5.8%	97.04%	18.18%	-5.38%	5.85%
Net income ¹	98,780	39,127	77,671	75,059	146,052	173,759	163,604	166,653
Change	-	-60.39%	98.51%	-3.36%	94.58%	18.97%	-5.84%	1.86%
Announcement Date	12/05/21	12/05/22	11/05/23	13/05/24	13/05/25	13/05/26	-	-

¹JPY in Million

Estimates

Fiscal Period: March	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	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	424,224	489,989	436,414	462,746	476,981	546,743	-	514,060	516,704	542,793	487,444	593,916	620,189	623,613	574,706	665,890	640,565	738,940	523,763	637,524	671,142	734,783	608,616	706,865	736,912	800,940
Change	-	15.5%	-10.93%	6.03%	3.08%	14.63%	-	-	0.51%	5.05%	-10.2%	21.84%	4.42%	0.55%	-7.84%	15.87%	-3.8%	15.36%	-29.12%	21.72%	5.27%	9.48%	-17.17%	16.14%	4.25%	8.69%
EBITDA ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,312	38,127	59,914	54,546	24,772	72,753	73,011	63,817	26,998	70,492	71,823	64,225
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	63.55%	57.14%	-8.96%	-54.59%	193.69%	0.35%	-12.59%	-57.69%	161.1%	1.89%	-10.58%
EBIT ¹	31,979	36,311	14,478	4,820	26,807	-5,054	8,434	33,351	23,928	28,087	4,167	26,676	20,365	28,173	15,372	30,125	51,675	46,270	15,798	64,279	62,648	53,280	25,175	53,948	54,031	53,557
Change	-	13.55%	-60.13%	-66.71%	456.16%	-118.85%	266.88%	295.44%	-28.25%	17.38%	-85.16%	540.17%	-23.66%	38.34%	-45.44%	95.97%	71.54%	-10.46%	-65.86%	306.88%	-2.54%	-14.95%	-52.75%	114.29%	0.15%	-0.88%
Charge d'intérêts	-197	-	-436	-	-520	-	-510	-	-693	-	-498	-	-862	-	-1,097	-	-1,106	-	-1,235	-	-1,310	-	-	-	-	-
Earnings before Tax (EBT) ¹	34,185	40,088	17,259	9,501	28,831	690	15,873	38,386	26,758	32,689	9,071	32,598	27,425	38,012	37,065	42,272	58,770	72,933	27,271	85,370	78,291	56,068	37,800	60,300	66,300	55,500
Change	-	17.27%	-56.95%	-44.95%	203.45%	-97.61%	2,200.43%	141.83%	-30.29%	22.17%	-72.25%	259.37%	-15.87%	38.6%	-2.49%	14.05%	39.03%	24.1%	-62.61%	213.04%	-8.29%	-28.39%	-32.58%	59.52%	9.95%	-16.29%
Net income ¹	24,006	27,619	12,293	6,596	19,483	755	11,279	27,215	18,056	21,121	6,591	23,150	17,751	27,567	25,847	29,253	40,451	50,501	18,070	59,897	53,794	41,710	23,839	46,469	42,434	46,417
Change	-	15.05%	-55.49%	-46.34%	195.38%	-96.12%	1,393.91%	141.29%	-33.65%	16.97%	-68.79%	251.24%	-23.32%	55.3%	-6.24%	13.18%	38.28%	24.84%	-64.22%	231.47%	-10.19%	-22.46%	-42.85%	94.93%	-8.68%	9.39%
Announcement Date	08/02/21	12/05/21	05/08/21	08/11/21	10/02/22	12/05/22	10/08/22	07/11/22	06/02/23	11/05/23	07/08/23	06/11/23	05/02/24	13/05/24	06/08/24	11/11/24	10/02/25	13/05/25	08/08/25	05/11/25	09/02/26	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2025 S1	2026 S1	2027 S1
Net sales ¹	899,160	1,023,724	924,391	1,059,497	1,081,360	1,240,596	1,161,287	1,350,000
Change	-	13.85%	-9.7%	14.62%	2.06%	14.73%	-6.39%	16.25%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	19,298	21,753	41,785	52,015	30,843	45,497	80,077	78,000
Change	-	12.72%	92.09%	24.48%	-40.7%	47.51%	76.01%	-2.59%
Charge d'intérêts	-995	-	-1,171	-	-1,687	-2,332	-2,443	-
Earnings before Tax (EBT)	26,760	29,521	54,259	59,447	41,669	79,337	112,641	-
Change	-	10.32%	83.8%	9.56%	-29.91%	90.4%	41.98%	-
Net income ¹	18,889	20,238	38,494	39,177	29,741	55,100	77,967	69,000
Change	-	7.14%	90.21%	1.77%	-24.09%	85.27%	41.5%	-11.5%
Announcement Date	08/11/21	12/05/22	07/11/22	11/05/23	06/11/23	11/11/24	05/11/25	-

¹JPY in Million

Estimates

Forecast Balance Sheet: Obayashi Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	7,403	9,842	-82,328	-14,715	-32,505	-84,198	-154,011	-208,461
Change	-	32.95%	-936.5%	82.13%	-120.9%	-159.03%	-44.62%	-35.35%
Announcement Date	12/05/21	12/05/22	11/05/23	13/05/24	13/05/25	13/05/26	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Obayashi Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	57,431	58,030	92,360	77,167	50,178	125,630	71,333	66,667
Change	-	1.04%	59.16%	-16.45%	-34.97%	150.37%	-5.73%	-6.54%
Free Cash Flow (FCF) ¹	-54,272	19,864	126,846	-26,768	76,029	168,557	173,433	146,767
Change	-	136.6%	538.57%	-121.1%	384.03%	121.7%	-17.82%	-15.38%
Announcement Date	12/05/21	12/05/22	11/05/23	13/05/24	13/05/25	13/05/26	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Obayashi Corporation

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	8.1%	3.21%	5.93%	4.58%	6.71%	8.93%	7.89%	8.45%
EBIT Margin (%)	6.97%	2.13%	4.73%	3.41%	5.47%	7.53%	6.58%	7.18%
EBT Margin (%)	7.62%	2.93%	5.73%	4.61%	8.05%	9.64%	8.2%	8.27%
Net margin (%)	5.59%	2.03%	3.92%	3.23%	5.57%	6.72%	5.68%	5.52%
FCF margin (%)	-3.07%	1.03%	6.39%	-1.15%	2.9%	6.52%	6.02%	4.86%
FCF / Net Income (%)	-54.94%	50.77%	163.31%	-35.66%	52.06%	97.01%	106.01%	88.07%
Profitability
ROA	5.72%	2.12%	4.01%	3.25%	5.06%	6.6%	5.2%	4.77%
ROE	11.3%	4.1%	8%	7%	12.6%	14.4%	12.78%	12.66%
Financial Health
Leverage (Debt/EBITDA)	0.05x	0.16x	-	-	-	-	-	-
Debt / Free cash flow	-0.14x	0.5x	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	3.25%	3.02%	4.66%	3.32%	1.92%	4.86%	2.48%	2.21%
CAPEX / EBITDA (%)	40.11%	93.99%	78.44%	72.46%	28.53%	54.38%	31.4%	26.12%
CAPEX / FCF (%)	-105.82%	292.14%	72.81%	-288.28%	66%	74.53%	41.13%	45.42%
Items per share
Cash flow per share ¹	165.6	83.4	141.7	142.5	249.2	301.6	299.8	303.2
Change	-	-49.63%	69.94%	0.55%	74.86%	21.03%	-9.44%	1.13%
Dividend per Share ¹	32	32	42	75	81	88	94.88	103
Change	-	0%	31.25%	78.57%	8%	8.64%	9.05%	8.56%
Book Value Per Share ¹	1,297	1,333	1,391	1,606	1,629	1,831	1,878	2,018
Change	-	2.76%	4.33%	15.49%	1.41%	12.39%	6.9%	7.44%
EPS ¹	137.6	54.55	108.3	104.7	203.9	249.4	238.6	245
Change	-	-60.37%	98.61%	-3.37%	94.75%	22.34%	-4.02%	2.68%
Nbr of stocks (in thousands)	717,671	716,985	716,948	717,000	714,395	687,422	687,422	687,422
Announcement Date	12/05/21	12/05/22	11/05/23	13/05/24	13/05/25	13/05/26	-	-