Cash flow Shin-Etsu Chemical Co., Ltd.

Equities

4063

JP3371200001

Diversified Chemicals

Delayed Japan Exchange Other stock markets 06:30:00 12/03/2026 GMT			5-day change	1st Jan Change
6,401.00 ^JPY	+4.08%		+2.81%	+31.36%

03-05	Shin-Etsu Chemical US unit to invest $3.4 billion to strengthen PVC materials and caustic soda business	RE
03-05	Japanese shares rebound in broad-based buying after three days of losses	RE

408edbef61e265193e5ce.lK9kCd0zvyHCW1WmeBVW69lEsp9jkf851dFcnYnWmJg.3_tTUJNXh3ubaQ3pCHBuna1x_PkU-bxKioMawt7g0tTkmVxkk1_TboptEA

Published financial data: SHIN-ETSU CHEMICAL CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	1,497B	2,074B	2,809B	2,415B	2,561B
Total Revenues	1,497B	2,074B	2,809B	2,415B	2,561B
Cost of Goods Sold, Total	953B	1,206B	1,595B	1,504B	1,577B
Gross Profit	544B	868B	1,214B	911B	984B
Selling General & Admin Expenses, Total	149B	189B	213B	204B	235B
Provision for Bad Debts	-513M	3.63B	-437M	577M	2.07B
R&D Expenses	-	-	-	-	-
Depreciation & Amortization - (IS)	2.66B	3.01B	3.25B	5.15B	4.88B
Other Operating Expenses, Total	151B	195B	216B	210B	242B
Operating Income	392B	673B	998B	701B	742B
Interest Expense, Total	-728M	-	-1.49B	-1.5B	-
Interest And Investment Income	12.43B	-	16.58B	67.96B	86.73B
Net Interest Expenses	11.7B	-	15.08B	66.46B	86.73B
Income (Loss) On Equity Invest.	5.36B	7.14B	9.52B	-	-
Currency Exchange Gains (Loss)	-	14.26B	-3.2B	13.65B	-10.69B
Other Non Operating Income (Expenses)	-2.23B	3.16B	5.51B	8.31B	6.62B
EBT, Excl. Unusual Items	407B	697B	1,025B	789B	825B
Gain (Loss) On Sale Of Investments	-	-	-	19.18B	16.42B
Gain (Loss) On Sale Of Assets	-1.95B	-1.11B	-4.91B	-2.23B	-4.23B
Asset Writedown	-	-	-	-	-2.9B
Other Unusual Items	-2.96B	-	-	-10.73B	-7.84B
EBT, Incl. Unusual Items	402B	696B	1,020B	796B	826B
Income Tax Expense	103B	171B	257B	231B	246B
Earnings From Continuing Operations	299B	525B	764B	565B	580B
Net Income to Company	299B	525B	764B	565B	580B
Minority Interest	-5.44B	-24.91B	-55.38B	-45.02B	-46.08B
Net Income - (IS)	294B	500B	708B	520B	534B
Net Income to Common Incl Extra Items	294B	500B	708B	520B	534B
Net Income to Common Excl. Extra Items	294B	500B	708B	520B	534B
Per Share Items
Net EPS - Basic	141.35	240.76	347.84	259.41	269.52
Basic EPS - Continuing Operations	141.35	240.76	347.84	259.41	269.52
Basic Weighted Average Shares Outstanding	2.08B	2.08B	2.04B	2.01B	1.98B
Net EPS - Diluted	141.25	240.55	347.61	259.13	269.27
Diluted EPS - Continuing Operations	141.25	240.55	347.61	259.13	269.27
Diluted Weighted Average Shares Outstanding	2.08B	2.08B	2.04B	2.01B	1.98B
Normalized Basic EPS	119.81	197.79	287.47	223.63	236.91
Normalized Diluted EPS	119.73	197.63	287.29	223.41	236.72
Dividend Per Share	50	80	100	100	106
Payout Ratio	31.12	24.09	27.58	40.61	38.34
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	536B	841B	1,212B	929B	980B
EBITA	392B	673B	998B	701B	742B
EBIT	392B	673B	998B	701B	742B
Effective Tax Rate - (Ratio)	25.6	24.58	25.15	28.97	29.79
Normalized Net Income	249B	411B	585B	448B	469B
Non-Cash Pension Expense	-7M	-252M	-1.79B	-3.1B	-3.4B
Supplemental Operating Expense Items
Selling and Marketing Expenses	44.47B	66.92B	75.35B	57.78B	69.24B
Research And Development Expense From Footnotes	51.26B	62.46B	67.2B	66.78B	73.13B

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	867B	1,113B	1,450B	1,699B	1,708B
Short Term Investments	286B	323B	151B	20.71B	103B
Total Cash And Short Term Investments	1,153B	1,436B	1,601B	1,720B	1,812B
Accounts Receivable, Total	338B	468B	467B	475B	505B
Total Receivables	338B	468B	467B	475B	505B
Inventory	365B	454B	688B	721B	770B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	59.09B	80.54B	108B	121B	123B
Total Current Assets	1,915B	2,438B	2,864B	3,037B	3,210B
Net Property Plant And Equipment	1,165B	1,290B	1,518B	1,747B	2,066B
Long-term Investments	233B	249B	263B	283B	234B
Other Intangibles, Total	8.92B	10.54B	10.35B	10.2B	36.91B
Deferred Tax Assets Long-Term	58.7B	65.59B	75.03B	71.28B	90.15B
Other Long-Term Assets, Total	-	3M	1M	1M	1M
Total Assets	3,381B	4,053B	4,730B	5,148B	5,637B
Liabilities
Accounts Payable, Total	125B	178B	185B	161B	184B
Accrued Expenses, Total	73.6B	73.94B	90.51B	94.04B	102B
Short-term Borrowings	11.77B	13.46B	11B	10.39B	9.39B
Current Income Taxes Payable	112B	155B	158B	188B	175B
Other Current Liabilities	40.83B	57.57B	63.65B	66.31B	66.33B
Total Current Liabilities	363B	478B	508B	520B	537B
Long-Term Debt	15.99B	16.94B	18.81B	13.91B	7.45B
Pension & Other Post Retirement Benefits	41.46B	41.47B	36.93B	32.57B	33.17B
Deferred Tax Liability Non Current	55.29B	66.83B	112B	129B	192B
Other Non Current Liabilities	18.01B	21.2B	28.39B	27.76B	29.49B
Total Liabilities	494B	624B	704B	724B	799B
Common Stock, Total	119B	119B	119B	119B	119B
Additional Paid In Capital	129B	129B	128B	128B	126B
Retained Earnings	2,616B	2,993B	3,310B	3,520B	3,755B
Treasury Stock	-12.61B	-15.7B	-22.89B	-24.29B	-121B
Comprehensive Income and Other	-36.69B	103B	339B	519B	783B
Total Common Equity	2,815B	3,329B	3,874B	4,263B	4,662B
Minority Interest	71.47B	99.91B	152B	161B	175B
Total Equity	2,887B	3,429B	4,026B	4,424B	4,838B
Total Liabilities And Equity	3,381B	4,053B	4,730B	5,148B	5,637B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.08B	2.08B	2.02B	1.99B	1.96B
ECS Total Common Shares Outstanding	2.08B	2.08B	2.02B	2B	1.96B
Book Value / Share	1.35K	1.6K	1.92K	2.14K	2.38K
Tangible Book Value	2,806B	3,319B	3,864B	4,253B	4,626B
Tangible Book Value Per Share	1.35K	1.6K	1.92K	2.13K	2.36K
Total Debt	27.75B	30.4B	29.81B	24.3B	16.84B
Net Debt	-1,125B	-1,406B	-1,571B	-1,695B	-1,795B
Debt Equivalent of Unfunded Proj. Benefit Obligation	37.67B	37.55B	32.99B	27.58B	26.21B
Minority Interest, Total (Incl. Fin. Div)	71.47B	99.91B	152B	161B	175B
Inventories - Raw Materials, Total	195B	237B	362B	402B	408B
Inventories - Work In Process, Total	13.1B	15.42B	21.38B	23.29B	22.96B
Inventories - Finished Goods, Total	157B	201B	305B	295B	339B
Full Time Employees	24.07K	24.95K	25.72K	26K	27.27K
Accumulated Allowance for Doubtful Accounts (Supple)	6.03B	5.82B	5.7B	7.05B	9.94B

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	402B	696B	1,020B	796B	826B
Depreciation & Amortization - CF	144B	169B	214B	228B	238B
Depreciation & Amortization, Total	144B	169B	214B	228B	238B
(Gain) Loss From Sale Of Asset	936M	1.09B	1.51B	21.93B	3.53B
(Gain) Loss on Sale of Investments - (CF)	-1.17B	-115M	-58M	-18.79B	-10.28B
(Income) Loss On Equity Investments - (CF)	-5.36B	-7.14B	-9.52B	-8.61B	-6.35B
Other Operating Activities, Total	-98.65B	-145B	-263B	-212B	-182B
Change In Accounts Receivable	-22.02B	-119B	29.72B	7.04B	21.71B
Change In Inventories	-3.9B	-69.1B	-211B	-9.56B	-8.47B
Change In Accounts Payable	-9.58B	47.44B	-1.7B	-28.78B	-12.43B
Change in Other Net Operating Assets	-5.03B	-19.18B	8.58B	-19.67B	11.74B
Cash from Operations	401B	554B	788B	755B	882B
Capital Expenditure	-236B	-196B	-296B	-374B	-439B
Sale of Property, Plant, and Equipment	3.84B	2.34B	276M	1.54B	92M
Cash Acquisitions	-	-3.55B	-	-	-47.23B
Sale (Purchase) of Intangible assets	-1.18B	-1.78B	-3.85B	-3.06B	-3.36B
Investment in Marketable and Equity Securities, Total	-17.62B	-54.9B	112B	-721B	342B
Net (Increase) Decrease in Loans Originated / Sold - Investing	391M	251M	-152M	-183M	-198M
Other Investing Activities, Total	51M	-316M	302M	-1.75B	5.29B
Cash from Investing	-251B	-254B	-186B	-1,099B	-143B
Short Term Debt Issued, Total	701M	-	-	-	2.84B
Long-Term Debt Issued, Total	4.58B	4.68B	5B	23M	1.22B
Total Debt Issued	5.28B	4.68B	5B	23M	4.07B
Short Term Debt Repaid, Total	-	-1.1B	-1.52B	-1.53B	-
Long-Term Debt Repaid, Total	-796M	-3.04B	-6.03B	-5.11B	-12.64B
Total Debt Repaid	-796M	-4.14B	-7.55B	-6.64B	-12.64B
Issuance of Common Stock	5.15B	2.63B	2.81B	6.62B	2.47B
Repurchase of Common Stock	-10.66B	-5.95B	-207B	-108B	-194B
Common Dividends Paid	-91.42B	-120B	-195B	-211B	-205B
Common & Preferred Stock Dividends Paid	-91.42B	-120B	-195B	-211B	-205B
Other Financing Activities, Total	1.32B	761M	-21.67B	-50.49B	-50.09B
Cash from Financing	-91.12B	-123B	-424B	-369B	-455B
Foreign Exchange Rate Adjustments	-2.86B	29.96B	60.45B	56.28B	8.12B
Miscellaneous Cash Flow Adjustments	-2M	63M	-1M	-	-1M
Net Change in Cash	56.47B	207B	238B	-657B	293B
Supplemental Items
Cash Interest Paid	571M	816M	1.23B	1.3B	1.15B
Cash Income Tax Paid (Refund)	101B	147B	267B	209B	187B
Levered Free Cash Flow	108B	265B	309B	247B	196B
Unlevered Free Cash Flow	108B	265B	310B	248B	196B
Change In Net Working Capital	43.32B	127B	228B	40.73B	63.48B
Net Debt Issued / Repaid	4.48B	536M	-2.55B	-6.62B	-8.57B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	7.42	11.31	14.21	8.87	8.6
Return on Total Capital	8.66	13.19	16.6	10.3	9.97
Return On Equity %	10.67	16.63	20.48	13.38	12.53
Return on Common Equity	10.74	16.28	19.66	12.78	11.97
Margin Analysis
Gross Profit Margin %	36.32	41.84	43.22	37.73	38.42
SG&A Margin	9.98	9.1	7.59	8.47	9.18
EBITDA Margin %	35.81	40.56	43.14	38.45	38.28
EBITA Margin %	26.2	32.43	35.54	29.03	28.97
EBIT Margin %	26.2	32.43	35.54	29.03	28.97
Income From Continuing Operations Margin %	19.99	25.31	27.19	23.4	22.65
Net Income Margin %	19.62	24.11	25.21	21.54	20.85
Net Avail. For Common Margin %	19.62	24.11	25.21	21.54	20.85
Normalized Net Income Margin	16.63	19.81	20.84	18.57	18.33
Levered Free Cash Flow Margin	7.2	12.75	10.99	10.21	7.65
Unlevered Free Cash Flow Margin	7.23	12.75	11.02	10.25	7.65
Asset Turnover
Asset Turnover	0.45	0.56	0.64	0.49	0.47
Fixed Assets Turnover	1.31	1.69	2	1.48	1.34
Receivables Turnover (Average Receivables)	4.56	5.15	6.01	5.13	5.23
Inventory Turnover (Average Inventory)	2.61	2.95	2.79	2.13	2.12
Short Term Liquidity
Current Ratio	5.27	5.1	5.64	5.84	5.98
Quick Ratio	4.1	3.98	4.07	4.22	4.31
Operating Cash Flow to Current Liabilities	1.1	1.16	1.55	1.45	1.64
Days Sales Outstanding (Average Receivables)	80	70.87	60.72	71.35	69.79
Days Outstanding Inventory (Average Inventory)	139.9	123.85	130.71	171.49	172.49
Average Days Payable Outstanding	50.17	42.71	36.18	41.27	38.79
Cash Conversion Cycle (Average Days)	169.73	152	155.25	201.57	203.49
Long Term Solvency
Total Debt/Equity	0.96	0.89	0.74	0.55	0.35
Total Debt / Total Capital	0.95	0.88	0.73	0.55	0.35
LT Debt/Equity	0.55	0.49	0.47	0.31	0.15
Long-Term Debt / Total Capital	0.55	0.49	0.46	0.31	0.15
Total Liabilities / Total Assets	14.61	15.4	14.89	14.06	14.18
EBIT / Interest Expense	538.76	-	669.93	467.05	-
EBITDA / Interest Expense	736.29	-	813.31	618.69	-
(EBITDA - Capex) / Interest Expense	411.85	-	614.98	369.25	-
Total Debt / EBITDA	0.05	0.04	0.02	0.03	0.02
Net Debt / EBITDA	-2.1	-1.67	-1.3	-1.83	-1.83
Total Debt / (EBITDA - Capex)	0.09	0.05	0.03	0.04	0.03
Net Debt / (EBITDA - Capex)	-3.75	-2.18	-1.71	-3.06	-3.32
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-3.02	38.58	35.4	-14.02	6.06
Gross Profit, 1 Yr. Growth %	-2.17	59.65	39.87	-24.95	8
EBITDA, 1 Yr. Growth %	-0.22	56.98	44.01	-23.37	5.58
EBITA, 1 Yr. Growth %	-3.41	71.51	48.39	-29.77	5.86
EBIT, 1 Yr. Growth %	-3.41	71.51	48.39	-29.77	5.86
Earnings From Cont. Operations, 1 Yr. Growth %	-6.01	75.49	45.44	-25.99	2.64
Net Income, 1 Yr. Growth %	-6.46	70.26	41.61	-26.56	2.67
Normalized Net Income, 1 Yr. Growth %	-3.18	65.03	42.46	-23.39	4.69
Diluted EPS Before Extra, 1 Yr. Growth %	-6.46	70.3	44.51	-25.45	3.91
Accounts Receivable, 1 Yr. Growth %	6.15	38.43	-0.18	1.69	6.32
Inventory, 1 Yr. Growth %	-0.17	24.28	51.76	4.67	6.84
Net Property, Plant and Equip., 1 Yr. Growth %	4.04	10.73	17.67	15.04	18.29
Total Assets, 1 Yr. Growth %	4.65	19.9	16.7	8.83	9.49
Tangible Book Value, 1 Yr. Growth %	6.13	18.26	16.42	10.06	8.77
Common Equity, 1 Yr. Growth %	6.06	18.26	16.37	10.03	9.38
Cash From Operations, 1 Yr. Growth %	-2.72	37.98	42.36	-4.17	16.78
Capital Expenditures, 1 Yr. Growth %	-11.99	-17.11	50.95	26.7	17.38
Levered Free Cash Flow, 1 Yr. Growth %	51.07	145.43	16.7	-20.12	-20.58
Unlevered Free Cash Flow, 1 Yr. Growth %	50.72	144.4	17.05	-20.06	-20.89
Dividend Per Share, 1 Yr. Growth %	13.64	60	25	0	6
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-3.09	15.93	36.98	7.9	-4.51
Gross Profit, 2 Yr. CAGR %	-0.94	24.98	49.43	2.46	-9.97
EBITDA, 2 Yr. CAGR %	-0.49	25.15	50.36	5.05	-10.05
EBITA, 2 Yr. CAGR %	-1.43	28.71	59.53	2.09	-13.78
EBIT, 2 Yr. CAGR %	-1.43	28.71	59.53	2.09	-13.78
Earnings From Cont. Operations, 2 Yr. CAGR %	-2.39	28.43	59.76	3.75	-12.84
Net Income, 2 Yr. CAGR %	-2.52	26.2	55.28	1.98	-13.17
Normalized Net Income, 2 Yr. CAGR %	-1.64	26.41	53.33	4.47	-10.45
Diluted EPS Before Extra, 2 Yr. CAGR %	-1.36	26.21	56.87	3.79	-11.99
Accounts Receivable, 2 Yr. CAGR %	0.98	21.22	17.55	0.75	3.98
Inventory, 2 Yr. CAGR %	5.25	11.38	37.33	26.04	5.75
Net Property, Plant and Equip., 2 Yr. CAGR %	8.6	7.33	14.15	16.35	16.65
Total Assets, 2 Yr. CAGR %	5.48	12.02	18.29	12.7	9.16
Tangible Book Value, 2 Yr. CAGR %	6.85	12.03	17.34	13.2	9.41
Common Equity, 2 Yr. CAGR %	6.83	12	17.31	13.15	9.7
Cash From Operations, 2 Yr. CAGR %	0.06	15.86	40.15	16.8	5.79
Capital Expenditures, 2 Yr. CAGR %	2.06	-14.59	11.86	38.29	21.95
Levered Free Cash Flow, 2 Yr. CAGR %	-15.14	92.56	69.24	-3.45	-20.35
Unlevered Free Cash Flow, 2 Yr. CAGR %	-15.1	91.93	69.13	-3.27	-20.47
Dividend Per Share, 2 Yr. CAGR %	11.8	34.84	41.42	11.8	2.96
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	1.27	9.18	22.09	17.28	7.28
Gross Profit, 3 Yr. CAGR %	4.36	16.14	29.76	18.78	4.27
EBITDA, 3 Yr. CAGR %	6.1	15.84	31.15	20.1	5.23
EBITA, 3 Yr. CAGR %	5.21	18.55	34.96	21.36	3.33
EBIT, 3 Yr. CAGR %	5.21	18.55	34.96	21.36	3.33
Earnings From Cont. Operations, 3 Yr. CAGR %	3.47	18.69	33.87	23.62	3.38
Net Income, 3 Yr. CAGR %	3.33	17.39	31.14	20.98	2.21
Normalized Net Income, 3 Yr. CAGR %	5.69	16.88	31.55	21.67	4.54
Diluted EPS Before Extra, 3 Yr. CAGR %	4.21	18.33	32.04	22.42	3.83
Accounts Receivable, 3 Yr. CAGR %	1.76	12.18	13.62	12.01	2.57
Inventory, 3 Yr. CAGR %	8.97	11.25	23.48	25.45	19.28
Net Property, Plant and Equip., 3 Yr. CAGR %	9	9.3	10.67	14.45	16.99
Total Assets, 3 Yr. CAGR %	5.14	10.08	13.56	15.05	11.62
Tangible Book Value, 3 Yr. CAGR %	6.21	10.53	13.48	14.86	11.7
Common Equity, 3 Yr. CAGR %	6.18	10.51	13.44	14.83	11.88
Cash From Operations, 3 Yr. CAGR %	6.43	11.37	24.09	23.47	16.8
Capital Expenditures, 3 Yr. CAGR %	13.32	-4.78	3.26	16.6	30.94
Levered Free Cash Flow, 3 Yr. CAGR %	-10.95	20.9	62.95	31.77	-9.54
Unlevered Free Cash Flow, 3 Yr. CAGR %	-10.9	20.78	62.76	31.75	-9.54
Dividend Per Share, 3 Yr. CAGR %	21.32	25.99	31.48	25.99	9.83
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	3.18	10.89	14.27	8.66	10.66
Gross Profit, 5 Yr. CAGR %	9.22	18.66	20.47	10.46	12.11
EBITDA, 5 Yr. CAGR %	11.65	20.46	21.97	11.4	12.79
EBITA, 5 Yr. CAGR %	13.47	23.03	24.27	11.67	12.82
EBIT, 5 Yr. CAGR %	13.47	23.03	24.27	11.67	12.82
Earnings From Cont. Operations, 5 Yr. CAGR %	14.75	24.11	23.11	12.47	12.76
Net Income, 5 Yr. CAGR %	14.56	23.24	21.61	10.97	11.2
Normalized Net Income, 5 Yr. CAGR %	12.72	22.4	22.65	11.75	12.79
Diluted EPS Before Extra, 5 Yr. CAGR %	15.11	23.85	22.73	12.28	12.26
Accounts Receivable, 5 Yr. CAGR %	5.87	11.34	7.8	7.46	9.66
Inventory, 5 Yr. CAGR %	5.37	11.17	19.54	16.94	16.06
Net Property, Plant and Equip., 5 Yr. CAGR %	7.68	8.79	11.03	12.07	13.03
Total Assets, 5 Yr. CAGR %	6.14	8.83	10.22	11.12	11.78
Tangible Book Value, 5 Yr. CAGR %	6.84	9.35	10.53	11.59	11.83
Common Equity, 5 Yr. CAGR %	6.77	9.31	10.5	11.56	11.93
Cash From Operations, 5 Yr. CAGR %	7.33	13.73	18.82	13.51	16.42
Capital Expenditures, 5 Yr. CAGR %	9.91	7.73	12.73	10.55	10.37
Levered Free Cash Flow, 5 Yr. CAGR %	6.25	12.86	15.13	10.5	22.38
Unlevered Free Cash Flow, 5 Yr. CAGR %	6.27	12.81	15.14	10.51	22.22
Dividend Per Share, 5 Yr. CAGR %	17.84	27.23	28.99	20.11	19.23