Financials Recruit Holdings Co., Ltd.

Equities

6098

JP3970300004

Employment Services

Market Closed - Japan Exchange Other stock markets 07:30:00 11/07/2025 BST			5-day change	1st Jan Change
8,218.00 ^JPY	-1.92%		+0.18%	-26.26%

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Projected Income Statement: Recruit Holdings Co., Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	2,269,346	2,871,705	3,429,519	3,416,492	3,557,478	3,574,577	3,777,235	4,007,398
Change	-	26.54%	19.42%	-0.38%	4.13%	0.48%	5.67%	6.09%
EBITDA ¹	241,658	479,370	545,043	598,397	678,889	687,365	766,500	868,326
Change	-	98.37%	13.7%	9.79%	13.45%	1.25%	11.51%	13.28%
EBIT ¹	162,823	378,929	344,303	402,526	490,542	552,434	629,492	727,565
Change	-	132.72%	-9.14%	16.91%	21.87%	12.62%	13.95%	15.58%
Interest Paid ¹	-3,944	-4,326	-4,936	-30,859	-10,625	-8,742	-8,742	-7,812
Earnings before Tax (EBT) ¹	168,502	382,749	367,767	426,241	527,143	583,664	656,805	750,449
Change	-	127.15%	-3.91%	15.9%	23.67%	10.72%	12.53%	14.26%
Net income ¹	131,393	296,833	269,799	353,654	408,504	437,759	495,598	570,267
Change	-	125.91%	-9.11%	31.08%	15.51%	7.16%	13.21%	15.07%
Announcement Date	17/05/21	16/05/22	15/05/23	15/05/24	09/05/25	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2021 Q1	2021 Q2	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
Net sales ¹	475,488	569,132	611,578	613,100	664,712	701,194	746,056	759,700	843,175	878,400	880,100	827,700	850,828	855,100	866,700	843,700	901,558	897,100	896,900	861,700	881,008	889,936	904,655	886,701
Change	-	19.69%	7.46%	0.25%	8.42%	5.49%	6.4%	1.83%	10.99%	4.18%	0.19%	-5.95%	2.79%	0.5%	1.36%	-2.65%	6.86%	-0.49%	-0.02%	-3.92%	2.24%	1.01%	1.65%	-1.98%
EBITDA ¹	53,431	69,900	87,519	30,700	125,677	140,682	134,838	78,100	152,336	145,300	138,200	76,700	165,900	162,200	158,200	111,900	179,000	188,100	179,600	132,000	182,028	185,260	184,536	154,240
Change	-	30.82%	25.21%	-64.92%	309.37%	11.94%	-4.15%	-42.08%	95.05%	-4.62%	-4.89%	-44.5%	116.3%	-2.23%	-2.47%	-29.27%	59.96%	5.08%	-4.52%	-26.5%	37.9%	1.78%	-0.39%	-16.42%
EBIT ¹	26,671	48,058	68,588	19,500	104,717	118,210	110,657	45,300	119,371	108,500	96,800	19,400	121,654	116,100	108,900	55,700	127,818	141,800	139,650	81,100	146,643	147,352	147,647	118,485
Change	-	80.19%	42.72%	-71.57%	437.01%	12.89%	-6.39%	-59.06%	163.51%	-9.11%	-10.78%	-79.96%	527.08%	-4.57%	-6.2%	-48.85%	129.48%	10.94%	-1.52%	-41.93%	80.82%	0.48%	0.2%	-19.75%
Charge d'intérêts ¹	-946	-910	-991	-1,097	-1,005	-1,396	-455	-1,470	-1,944	-635	-1,184	-1,173	-1,221	-1,431	-1,336	-	-1,732	-1,556	-1,077	-6,260	-1,732	-1,556	-1,077	-6,260
Earnings before Tax (EBT) ¹	28,547	49,942	68,337	21,674	105,407	118,436	112,663	46,242	120,060	110,300	105,600	31,600	130,263	130,784	120,985	44,200	141,494	155,500	145,175	84,900	161,095	159,038	153,616	122,792
Change	-	74.95%	36.83%	-68.28%	386.33%	12.36%	-4.87%	-58.96%	159.63%	-8.13%	-4.26%	-70.08%	312.22%	0.4%	-7.49%	-63.47%	220.12%	9.9%	-6.64%	-41.52%	89.75%	-1.28%	-3.41%	-20.07%
Net income ¹	22,323	40,209	55,049	13,800	77,864	87,305	83,252	48,400	84,472	85,200	77,800	22,100	98,060	115,000	106,300	34,200	106,426	116,000	119,054	66,900	121,008	121,319	118,550	88,428
Change	-	80.12%	36.91%	-74.93%	464.23%	12.12%	-4.64%	-41.86%	74.53%	0.86%	-8.69%	-71.59%	343.71%	17.28%	-7.57%	-67.83%	211.19%	9%	2.63%	-43.81%	80.88%	0.26%	-2.28%	-25.41%
Announcement Date	26/08/20	16/11/20	15/02/21	17/05/21	12/08/21	15/11/21	14/02/22	16/05/22	12/08/22	14/11/22	13/02/23	15/05/23	10/08/23	08/11/23	09/02/24	15/05/24	08/08/24	11/11/24	12/02/25	09/05/25	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2025 S1
Net sales ¹	1,224,725	1,365,907	1,505,798	1,721,600	1,707,870	1,705,900	1,798,700
Change	-	11.53%	10.24%	14.33%	-0.8%	-0.12%	5.44%
EBITDA	118,236	-	213,011	297,600	-	328,100	-
Change	-	-	-	39.71%	-	-	-
EBIT ¹	88,094	222,928	156,001	227,900	116,403	237,800	269,700
Change	-	153.06%	-30.02%	46.09%	-48.92%	104.29%	13.41%
Charge d'intérêts ¹	-	-2,401	-	-2,579	-	-2,652	-3,288
Earnings before Tax (EBT) ¹	90,012	223,843	158,906	230,300	137,467	261,047	297,000
Change	-	148.68%	-29.01%	44.93%	-40.31%	89.9%	13.77%
Net income ¹	68,860	165,169	131,664	169,700	100,099	213,000	222,400
Change	-	139.86%	-20.29%	28.89%	-41.01%	112.79%	4.41%
Announcement Date	17/05/21	15/11/21	16/05/22	14/11/22	15/05/23	08/11/23	11/11/24

¹JPY in Million

Estimates

Forecast Balance Sheet: Recruit Holdings Co., Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-122,318	-608,900	-842,000	-1,135,400	-807,614	-799,597	-1,167,075	-1,616,548
Change	-	-397.8%	-38.28%	-34.85%	28.87%	0.99%	-45.96%	-38.51%
Announcement Date	17/05/21	16/05/22	15/05/23	15/05/24	09/05/25	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Recruit Holdings Co., Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	58,314	64,385	76,756	69,929	65,257	78,308	79,759	80,329
Change	-	10.41%	19.21%	-8.89%	-6.68%	20%	1.85%	0.71%
Free Cash Flow (FCF) ¹	246,224	368,872	405,517	465,433	545,106	493,203	527,254	599,088
Change	-	49.81%	9.93%	14.78%	17.12%	-9.52%	6.9%	13.62%
Announcement Date	17/05/21	16/05/22	15/05/23	15/05/24	09/05/25	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Recruit Holdings Co., Ltd.

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	10.65%	16.69%	15.89%	17.51%	19.08%	19.23%	20.29%	21.67%
EBIT Margin (%)	7.17%	13.2%	10.04%	11.78%	13.79%	15.45%	16.67%	18.16%
EBT Margin (%)	7.43%	13.33%	10.72%	12.48%	14.82%	16.33%	17.39%	18.73%
Net margin (%)	5.79%	10.34%	7.87%	10.35%	11.48%	12.25%	13.12%	14.23%
FCF margin (%)	10.85%	12.85%	11.82%	13.62%	15.32%	13.8%	13.96%	14.95%
FCF / Net Income (%)	187.4%	124.27%	150.3%	131.61%	133.44%	112.67%	106.39%	105.05%
Profitability
ROA	8.03%	16.57%	14.1%	14.36%	17.82%	17.33%	17.26%	17.62%
ROE	12.6%	24.2%	18%	19.5%	22.6%	26.41%	28.39%	29.31%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.57%	2.24%	2.24%	2.05%	1.83%	2.19%	2.11%	2%
CAPEX / EBITDA (%)	24.13%	13.43%	14.08%	11.69%	9.61%	11.39%	10.41%	9.25%
CAPEX / FCF (%)	23.68%	17.45%	18.93%	15.02%	11.97%	15.88%	15.13%	13.41%
Items per share
Cash flow per share ¹	152.7	257.1	244.9	301	344	370.4	427.2	474.9
Change	-	68.32%	-4.75%	22.95%	14.28%	7.65%	15.34%	11.18%
Dividend per Share ¹	20	21	22	23	24	26.5	31.92	35.69
Change	-	5%	4.76%	4.55%	4.35%	10.41%	20.44%	11.82%
Book Value Per Share ¹	668	847.4	1,030	1,295	1,103	1,076	1,311	1,539
Change	-	26.87%	21.58%	25.73%	-14.86%	-2.44%	21.89%	17.35%
EPS ¹	79.83	181.7	168.6	226	271.4	300.9	343.7	400.9
Change	-	127.58%	-7.2%	34.05%	20.11%	10.86%	14.2%	16.65%
Nbr of stocks (in thousands)	1,634,188	1,634,062	1,581,240	1,543,924	1,470,445	1,425,775	1,425,775	1,425,775
Announcement Date	17/05/21	16/05/22	15/05/23	15/05/24	09/05/25	-	-	-