Cash flow Otsuka Holdings Co., Ltd.

Equities

4578

JP3188220002

Pharmaceuticals

Delayed Japan Exchange Other stock markets 06:30:00 12/03/2026 GMT			5-day change	1st Jan Change
11,020.00 ^JPY	+1.29%		+8.36%	+24.20%

03-04	Irlab Working to Secure Funding for Phase 3 Study of Mesdopetam - fc	FW
02-26	Irlab Receives $3 Million Milestone Payment Following Dosing in Phase 1b Study	FW

1b016924c9.yezi-Zi5BefPcHmEaTbkORJ_hBw1jmtYDGdoOlprgCI.-5qpy-rdNbX8QAzKCl67YEsb_W5YxwgHflcjdm1cuG6jg9rLtYlPgaQmIA

Published financial data: OTSUKA HOLDINGS CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	1,498B	1,738B	2,019B	2,330B	2,469B
Total Revenues	1,498B	1,738B	2,019B	2,330B	2,469B
Cost of Goods Sold, Total	495B	570B	611B	660B	699B
Gross Profit	1,003B	1,168B	1,407B	1,669B	1,770B
Selling General & Admin Expenses, Total	622B	724B	807B	958B	1,003B
R&D Expenses	232B	275B	308B	314B	353B
Other Operating Expenses	2.04B	431M	521M	-18.15B	-59.67B
Other Operating Expenses, Total	857B	1T	1,116B	1,254B	1,296B
Operating Income	147B	169B	292B	415B	474B
Interest Expense, Total	-2.61B	-3.32B	-6.52B	-6.18B	-27.03B
Interest And Investment Income	2.76B	3.93B	9.57B	9.88B	15.7B
Net Interest Expenses	148M	607M	3.04B	3.7B	-11.34B
Income (Loss) On Equity Invest.	8.51B	5.78B	20.36B	33.61B	33.7B
Currency Exchange Gains (Loss)	10.69B	22.15B	-	8.68B	-
Other Non Operating Income (Expenses)	-99M	712M	-4M	2.94B	-3M
EBT, Excl. Unusual Items	166B	198B	315B	464B	496B
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-	-	-	-	-1.66B
Impairment of Goodwill	-	-	-12.71B	-	-
Gain (Loss) On Sale Of Investments	4.77B	14.69B	-	44M	-
Gain (Loss) On Sale Of Assets	93M	1.9B	-	-429M	-
Asset Writedown	-7.05B	-41.59B	-160B	-128B	-26.43B
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	164B	173B	143B	336B	468B
Income Tax Expense	34.43B	35.53B	17.16B	-11.42B	102B
Earnings From Continuing Operations	129B	137B	125B	347B	366B
Net Income to Company	129B	137B	125B	347B	366B
Minority Interest	-3.74B	-3.4B	-3.88B	-4.15B	-3.06B
Net Income - (IS)	125B	134B	122B	343B	363B
Net Income to Common Incl Extra Items	125B	134B	122B	343B	363B
Net Income to Common Excl. Extra Items	125B	134B	122B	343B	363B
Per Share Items
Net EPS - Basic	231.32	247.01	224.1	633.77	685.06
Basic EPS - Continuing Operations	231.32	247.01	224.1	633.77	685.06
Basic Weighted Average Shares Outstanding	542M	543M	543M	541M	530M
Net EPS - Diluted	231.15	246.99	224.1	633.77	685.06
Diluted EPS - Continuing Operations	231.15	246.99	224.1	633.77	685.06
Diluted Weighted Average Shares Outstanding	542M	543M	543M	541M	530M
Normalized Basic EPS	184.18	221.77	355.71	527.91	579.16
Normalized Diluted EPS	184.18	221.77	355.71	527.91	579.16
Dividend Per Share	100	100	110	120	140
Payout Ratio	44.62	41.46	-	19.46	-
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	231B	262B	385B	523B	590B
EBITA	147B	169B	292B	415B	474B
EBIT	147B	169B	292B	415B	474B
Effective Tax Rate - (Ratio)	21.04	20.55	12.03	-3.4	21.75
Normalized Net Income	99.89B	120B	193B	286B	307B
Non-Cash Pension Expense	7.42B	9.31B	-	12.94B	-
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	232B	275B	308B	314B	353B

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	411B	472B	513B	426B	535B
Total Cash And Short Term Investments	411B	472B	513B	426B	535B
Accounts Receivable, Total	380B	423B	474B	515B	566B
Other Receivables	8.54B	2.95B	19.61B	3.53B	4.33B
Total Receivables	389B	426B	494B	519B	570B
Inventory	180B	224B	250B	298B	374B
Other Current Assets, Total	69.62B	70.51B	70.18B	124B	143B
Total Current Assets	1,049B	1,192B	1,327B	1,367B	1,622B
Gross Property Plant And Equipment	-	-	1,433B	-	1,669B
Accumulated Depreciation	-	-	-879B	-	-972B
Net Property Plant And Equipment	487B	511B	553B	629B	697B
Long-term Investments	434B	431B	279B	544B	359B
Goodwill	296B	335B	379B	449B	510B
Other Intangibles, Total	523B	580B	491B	544B	574B
Deferred Tax Assets Long-Term	31.94B	53.46B	119B	206B	185B
Other Long-Term Assets, Total	3M	4M	214B	5M	251B
Total Assets	2,821B	3,103B	3,361B	3,739B	4,198B
Liabilities
Accounts Payable, Total	170B	198B	206B	220B	226B
Short-term Borrowings	9B	15.35B	-	6.07B	-
Current Portion of Long-Term Debt	23.88B	11.09B	69.42B	1.28B	39.15B
Current Portion of Leases	17.1B	17.72B	18.85B	21.15B	21.91B
Current Income Taxes Payable	10.49B	28.34B	54.94B	29.25B	39.9B
Unearned Revenue Current, Total	-	-	14.32B	-	11.33B
Other Current Liabilities	237B	268B	303B	355B	411B
Total Current Liabilities	468B	539B	667B	633B	749B
Long-Term Debt	103B	93.77B	69.2B	87.28B	87.86B
Long-Term Leases	59.73B	56.23B	56.72B	73.61B	79.06B
Unearned Revenue Non Current	-	-	44.87B	-	26.02B
Pension & Other Post Retirement Benefits	14.08B	16.01B	16.56B	12.56B	12.57B
Deferred Tax Liability Non Current	27.56B	29.41B	27.17B	28.8B	33.59B
Other Non Current Liabilities	104B	106B	43.18B	126B	110B
Total Liabilities	776B	840B	925B	961B	1,098B
Common Stock, Total	81.69B	81.69B	81.69B	81.69B	81.69B
Additional Paid In Capital	507B	507B	506B	478B	428B
Retained Earnings	1,482B	1,553B	1,621B	1,904B	2,206B
Treasury Stock	-45.57B	-44.86B	-44.67B	-67.4B	-85.19B
Comprehensive Income and Other	-14.04B	129B	229B	336B	403B
Total Common Equity	2,011B	2,225B	2,394B	2,734B	3,033B
Minority Interest	34.2B	37.14B	42.63B	44.58B	66.32B
Total Equity	2,045B	2,263B	2,436B	2,778B	3,100B
Total Liabilities And Equity	2,821B	3,103B	3,361B	3,739B	4,198B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	542M	543M	543M	537M	528M
ECS Total Common Shares Outstanding	-	543M	543M	537M	528M
Book Value / Share	3.71K	4.1K	4.41K	5.09K	5.74K
Tangible Book Value	1,193B	1,310B	1,524B	1,740B	1,949B
Tangible Book Value Per Share	2.2K	2.41K	2.81K	3.24K	3.69K
Total Debt	212B	194B	214B	189B	228B
Net Debt	-198B	-277B	-299B	-237B	-307B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-24.08B	-42.29B	-	-112B	-
Minority Interest, Total (Incl. Fin. Div)	34.2B	37.14B	42.63B	44.58B	66.32B
Equity Method Investments, Total	228B	242B	279B	315B	359B
Account Code - Inventory Valuation	-	-	6	-	6
Inventories - Raw Materials, Total	53.62B	66.53B	-	99.07B	-
Inventories - Work In Process, Total	37.94B	46.84B	-	62.52B	-
Inventories - Finished Goods, Total	88.78B	110B	-	137B	-
Inventories - Others	1M	2M	-	3M	-
Full Time Employees	33.23K	33.48K	34.39K	35.34K	37.76K
Accumulated Allowance for Doubtful Accounts (Supple)	2.04B	2.78B	3.88B	5.58B	4.4B

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	164B	173B	-	336B	-
Depreciation & Amortization - CF	84.86B	93.76B	-	108B	-
Depreciation & Amortization, Total	84.86B	93.76B	-	108B	-
(Gain) Loss From Sale Of Asset	6.48B	41.52B	-	126B	-
(Income) Loss On Equity Investments - (CF)	-8.51B	-5.78B	-	-33.61B	-
Other Operating Activities, Total	-54.66B	-48.59B	-	-105B	-
Change In Accounts Receivable	13.32B	-22.48B	-	-9.51B	-
Change In Inventories	6.5B	-21.7B	-	-38.58B	-
Change In Accounts Payable	-12.16B	1.39B	-	-14.64B	-
Change in Other Net Operating Assets	29.4B	773M	-	-14.38B	-
Cash from Operations	229B	212B	-	355B	-
Capital Expenditure	-52.45B	-60.95B	-	-95.56B	-
Sale of Property, Plant, and Equipment	1.7B	3.7B	-	689M	-
Cash Acquisitions	-8.04B	-	-	-116B	-
Divestitures	-	8.32B	-	-	-
Sale (Purchase) of Intangible assets	-60.7B	-46.84B	-	-33.8B	-
Investment in Marketable and Equity Securities, Total	22.08B	14.6B	-	-22.47B	-
Other Investing Activities, Total	2.12B	-412M	-	904M	-
Cash from Investing	-95.29B	-81.58B	-	-266B	-
Short Term Debt Issued, Total	10M	4.44B	-	-	-
Long-Term Debt Issued, Total	220M	1.07B	-	20.15B	-
Total Debt Issued	230M	5.51B	-	20.15B	-
Short Term Debt Repaid, Total	-	-	-	-41.07B	-
Long-Term Debt Repaid, Total	-21.13B	-25.67B	-	-26.22B	-
Total Debt Repaid	-21.13B	-25.67B	-	-67.29B	-
Repurchase of Common Stock	-1M	-	-	-50.02B	-
Common Dividends Paid	-55.98B	-55.56B	-	-66.76B	-
Common & Preferred Stock Dividends Paid	-55.98B	-55.56B	-	-66.76B	-
Other Financing Activities, Total	-18.96B	-19.75B	-	-25.44B	-
Cash from Financing	-95.84B	-95.47B	-	-189B	-
Foreign Exchange Rate Adjustments	16.1B	26.15B	-	13.35B	-
Miscellaneous Cash Flow Adjustments	-	-1M	-	-	-
Net Change in Cash	53.83B	60.95B	-	-87.17B	-
Supplemental Items
Cash Interest Paid	2.66B	3.46B	-	6.46B	-
Cash Income Tax Paid (Refund)	52.14B	35.25B	-	111B	-
Levered Free Cash Flow	116B	84.8B	-	132B	-
Unlevered Free Cash Flow	117B	86.87B	-	136B	-
Change In Net Working Capital	-54.05B	4.54B	9.14B	102B	62.67B
Net Debt Issued / Repaid	-20.9B	-20.16B	-	-47.14B	-

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.36	3.56	5.64	7.31	7.46
Return on Total Capital	4.2	4.47	7.14	9.23	9.41
Return On Equity %	6.58	6.38	5.34	13.32	12.46
Return on Common Equity	6.5	6.33	5.27	13.38	12.59
Margin Analysis
Gross Profit Margin %	66.96	67.23	69.72	71.65	71.68
SG&A Margin	41.54	41.66	40	41.13	40.62
EBITDA Margin %	15.45	15.1	19.09	22.45	23.89
EBITA Margin %	9.78	9.71	14.45	17.81	19.19
EBIT Margin %	9.78	9.71	14.45	17.81	19.19
Income From Continuing Operations Margin %	8.62	7.91	6.22	14.91	14.83
Net Income Margin %	8.37	7.71	6.02	14.73	14.71
Net Avail. For Common Margin %	8.37	7.71	6.02	14.73	14.71
Normalized Net Income Margin	6.67	6.92	9.56	12.27	12.44
Levered Free Cash Flow Margin	7.72	4.88	-	5.67	-
Unlevered Free Cash Flow Margin	7.83	5	-	5.83	-
Asset Turnover
Asset Turnover	0.55	0.59	0.62	0.66	0.62
Fixed Assets Turnover	3.16	3.48	3.79	3.94	3.73
Receivables Turnover (Average Receivables)	3.95	4.33	4.5	4.71	4.57
Inventory Turnover (Average Inventory)	2.8	2.82	2.58	2.41	2.08
Short Term Liquidity
Current Ratio	2.24	2.21	1.99	2.16	2.17
Quick Ratio	1.71	1.67	1.51	1.49	1.48
Operating Cash Flow to Current Liabilities	0.49	0.39	-	0.56	-
Days Sales Outstanding (Average Receivables)	92.49	84.38	81.14	77.71	79.93
Days Outstanding Inventory (Average Inventory)	130.57	129.42	141.26	151.81	175.58
Average Days Payable Outstanding	121.92	109.76	115.9	110.03	104.9
Cash Conversion Cycle (Average Days)	101.14	104.05	106.5	119.49	150.61
Long Term Solvency
Total Debt/Equity	10.39	8.58	8.79	6.82	7.35
Total Debt / Total Capital	9.41	7.9	8.08	6.38	6.85
LT Debt/Equity	7.94	6.63	5.17	5.79	5.38
Long-Term Debt / Total Capital	7.2	6.11	4.75	5.42	5.02
Total Liabilities / Total Assets	27.5	27.08	27.52	25.7	26.15
EBIT / Interest Expense	56.1	50.78	44.71	67.13	17.53
EBITDA / Interest Expense	88.57	79.01	59.08	84.6	21.82
(EBITDA - Capex) / Interest Expense	68.5	60.66	59.08	69.14	21.82
Total Debt / EBITDA	0.92	0.74	0.56	0.36	0.39
Net Debt / EBITDA	-0.86	-1.06	-0.78	-0.45	-0.52
Total Debt / (EBITDA - Capex)	1.19	0.96	0.56	0.44	0.39
Net Debt / (EBITDA - Capex)	-1.11	-1.38	-0.78	-0.55	-0.52
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	5.3	16	16.14	15.42	5.97
Gross Profit, 1 Yr. Growth %	2.05	16.47	20.44	18.62	6.01
EBITDA, 1 Yr. Growth %	-20.48	13.41	37.72	35.71	12.59
EBITA, 1 Yr. Growth %	-30.73	15.1	56.76	42.29	13.89
EBIT, 1 Yr. Growth %	-30.73	15.1	56.76	42.29	13.89
Earnings From Cont. Operations, 1 Yr. Growth %	-14.85	6.35	-8.58	176.71	5.46
Net Income, 1 Yr. Growth %	-15.31	6.82	-9.18	182.13	5.84
Normalized Net Income, 1 Yr. Growth %	-24.48	20.45	47.73	48.06	7.9
Diluted EPS Before Extra, 1 Yr. Growth %	-15.37	6.85	-9.2	182.81	8.09
Accounts Receivable, 1 Yr. Growth %	0.29	11.37	11.96	8.69	9.84
Inventory, 1 Yr. Growth %	3.75	23.93	11.67	19.52	25.49
Net Property, Plant and Equip., 1 Yr. Growth %	5.4	4.84	8.36	13.59	10.86
Total Assets, 1 Yr. Growth %	7.35	9.99	8.34	11.25	12.26
Tangible Book Value, 1 Yr. Growth %	5.33	9.86	16.31	14.19	12.04
Common Equity, 1 Yr. Growth %	8.56	10.66	7.57	14.2	10.97
Cash From Operations, 1 Yr. Growth %	-	-7.44	-	-	-
Capital Expenditures, 1 Yr. Growth %	-	16.2	-	-	-
Levered Free Cash Flow, 1 Yr. Growth %	-	-26.73	-	-	-
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-25.98	-	-	-
Dividend Per Share, 1 Yr. Growth %	0	0	-	9.09	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	3.59	10.52	16.07	15.78	10.59
Gross Profit, 2 Yr. CAGR %	3.04	9.02	18.44	19.53	12.14
EBITDA, 2 Yr. CAGR %	-3.81	-5.03	27.43	36.71	23.73
EBITA, 2 Yr. CAGR %	-8.33	-10.71	38.31	49.35	27.45
EBIT, 2 Yr. CAGR %	-8.33	-10.71	38.31	49.35	27.45
Earnings From Cont. Operations, 2 Yr. CAGR %	-0.76	-4.83	-1.45	59.05	70.82
Net Income, 2 Yr. CAGR %	-0.67	-4.88	-1.55	60.07	72.8
Normalized Net Income, 2 Yr. CAGR %	-5.91	-4.62	37.18	47.89	26.11
Diluted EPS Before Extra, 2 Yr. CAGR %	-0.73	-4.91	-1.54	60.25	74.84
Accounts Receivable, 2 Yr. CAGR %	-2.68	5.68	11.67	10.32	9.26
Inventory, 2 Yr. CAGR %	6.17	13.39	17.64	15.52	22.47
Net Property, Plant and Equip., 2 Yr. CAGR %	3.65	5.12	6.59	10.94	12.22
Total Assets, 2 Yr. CAGR %	4.54	8.66	9.16	9.78	11.75
Tangible Book Value, 2 Yr. CAGR %	8.5	7.57	13.03	15.24	13.11
Common Equity, 2 Yr. CAGR %	6.7	9.61	9.1	10.83	12.57
Cash From Operations, 2 Yr. CAGR %	9	-	-	29.38	-
Capital Expenditures, 2 Yr. CAGR %	3.89	-	-	25.21	-
Levered Free Cash Flow, 2 Yr. CAGR %	-4.44	-	-	18.54	-
Unlevered Free Cash Flow, 2 Yr. CAGR %	-5.5	-	-	17.91	-
Dividend Per Share, 2 Yr. CAGR %	-	0	4.88	-	12.82
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.06	7.57	12.36	15.85	12.41
Gross Profit, 3 Yr. CAGR %	5.67	7.33	12.7	18.5	14.84
EBITDA, 3 Yr. CAGR %	20.24	1.62	9.81	31.23	28.22
EBITA, 3 Yr. CAGR %	25.66	-1.11	11.29	41.47	36.55
EBIT, 3 Yr. CAGR %	25.66	-1.11	11.29	41.47	36.55
Earnings From Cont. Operations, 3 Yr. CAGR %	14.8	1.56	-6.13	39.04	38.69
Net Income, 3 Yr. CAGR %	15	1.77	-6.36	39.84	39.45
Normalized Net Income, 3 Yr. CAGR %	22.2	2.17	13.43	41.96	32.94
Diluted EPS Before Extra, 3 Yr. CAGR %	15.18	1.74	-6.38	39.96	40.54
Accounts Receivable, 3 Yr. CAGR %	0.15	1.8	7.74	10.67	10.16
Inventory, 3 Yr. CAGR %	4.7	11.79	12.81	18.26	18.76
Net Property, Plant and Equip., 3 Yr. CAGR %	7.36	4.05	6.19	8.87	10.91
Total Assets, 3 Yr. CAGR %	4.43	6.32	8.55	9.85	10.6
Tangible Book Value, 3 Yr. CAGR %	8.39	8.95	10.4	13.42	14.17
Common Equity, 3 Yr. CAGR %	5.67	8.01	8.92	10.77	10.88
Cash From Operations, 3 Yr. CAGR %	19	3.22	-	15.72	-
Capital Expenditures, 3 Yr. CAGR %	-2.78	7.84	-	22.13	-
Levered Free Cash Flow, 3 Yr. CAGR %	6.44	-12.53	-	4.48	-
Unlevered Free Cash Flow, 3 Yr. CAGR %	6.26	-12.89	-	5	-
Dividend Per Share, 3 Yr. CAGR %	0	-	3.23	6.27	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	4.62	6.99	9.33	10.78	11.65
Gross Profit, 5 Yr. CAGR %	4.92	7.41	10.61	12.06	12.48
EBITDA, 5 Yr. CAGR %	9.76	12.27	19.78	15.89	15.18
EBITA, 5 Yr. CAGR %	11.33	14.71	24.62	18.93	17.49
EBIT, 5 Yr. CAGR %	11.33	14.71	24.62	18.93	17.49
Earnings From Cont. Operations, 5 Yr. CAGR %	6.72	3.74	8	21.49	19.27
Net Income, 5 Yr. CAGR %	6.27	3.56	8.07	21.96	19.64
Normalized Net Income, 5 Yr. CAGR %	10.14	13.66	22.91	20.43	18.34
Diluted EPS Before Extra, 5 Yr. CAGR %	6.25	3.6	8.18	21.99	20.19
Accounts Receivable, 5 Yr. CAGR %	1.48	3.08	4.61	5.12	8.35
Inventory, 5 Yr. CAGR %	6.16	9.11	9.7	13.27	16.58
Net Property, Plant and Equip., 5 Yr. CAGR %	6.31	5.95	7.05	6.75	8.56
Total Assets, 5 Yr. CAGR %	2.62	4.58	6.3	7.69	9.82
Tangible Book Value, 5 Yr. CAGR %	2.94	3.79	10.22	11.43	11.48
Common Equity, 5 Yr. CAGR %	3.29	4.41	7.03	9.13	10.37
Cash From Operations, 5 Yr. CAGR %	10.02	15.55	-	12.98	-
Capital Expenditures, 5 Yr. CAGR %	3.4	2.39	-	14.48	-
Levered Free Cash Flow, 5 Yr. CAGR %	-1.49	3.94	-	0.82	-
Unlevered Free Cash Flow, 5 Yr. CAGR %	-0.87	3.78	-	0.67	-
Dividend Per Share, 5 Yr. CAGR %	0	0	1.92	-	6.96