Cash flow Toray Industries, Inc.

Equities

3402

JP3621000003

Commodity Chemicals

Delayed Japan Exchange Other stock markets 07:02:38 18/06/2025 BST			5-day change	1st Jan Change
986.30 ^JPY	+0.74%		+1.02%	-1.55%

06-13	Toray Industries, Inc., Q3 2025 Earnings Call, Feb 12, 2025
06-09	Fuso Pharma Appeals 7.47 Billion Yen Patent Ruling to Japan's Supreme Court	MT

0b44574d3edc8d96df34236.9m5POSUSg67q5hRmnCejr5cUea8r7dR2v6uGe9BF45Q.xVYjaVNrxp6_q1AzxlH26Pp6DMdPvoYMz5_DHqgvhOOvFCN-EmruzJyoQQ

Published financial data: TORAY INDUSTRIES, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	2,215B	1,884B	2,229B	2,489B	2,465B
Total Revenues	2,215B	1,884B	2,229B	2,489B	2,465B
Cost of Goods Sold, Total	1,776B	1,506B	1,793B	2,068B	2,021B
Gross Profit	438B	378B	436B	421B	444B
Selling General & Admin Expenses, Total	234B	287B	306B	331B	346B
R&D Expenses	65.93B	-	-	-	-
Depreciation & Amortization - (IS)	7.12B	-	-	-	-
Other Operating Expenses	-	254M	-1.86B	-2.7B	-3.63B
Other Operating Expenses, Total	307B	287B	304B	328B	343B
Operating Income	131B	90.26B	132B	92.62B	101B
Interest Expense, Total	-7.24B	-5.68B	-5B	-10.67B	-16.84B
Interest And Investment Income	7.02B	5.92B	6.11B	8.18B	11.7B
Net Interest Expenses	-211M	241M	1.12B	-2.5B	-5.14B
Income (Loss) On Equity Invest.	-10.8B	12.81B	19.34B	7.4B	8.85B
Currency Exchange Gains (Loss)	-	-1.35B	482M	-1.21B	-1.08B
Other Non Operating Income (Expenses)	-16.82B	-2.02B	-1.19B	-824M	-711M
EBT, Excl. Unusual Items	103B	99.95B	152B	95.49B	103B
Gain (Loss) On Sale Of Investments	2.38B	-	-	25.07B	-
Gain (Loss) On Sale Of Assets	-3.16B	-5.52B	-4.05B	-2.65B	-6.37B
Asset Writedown	-7.57B	-28.87B	-27.44B	-6.04B	-36.78B
Legal Settlements	-	-	-	-	-
Other Unusual Items	-960M	-	-	-	-
EBT, Incl. Unusual Items	94.05B	65.57B	120B	112B	59.57B
Income Tax Expense	29.13B	18.23B	26.71B	31.03B	29.11B
Earnings From Continuing Operations	64.92B	47.34B	93.61B	80.84B	30.46B
Net Income to Company	64.92B	47.34B	93.61B	80.84B	30.46B
Minority Interest	-9.19B	-1.54B	-9.37B	-8.02B	-8.56B
Net Income - (IS)	55.72B	45.79B	84.24B	72.82B	21.9B
Net Income to Common Incl Extra Items	55.72B	45.79B	84.24B	72.82B	21.9B
Net Income to Common Excl. Extra Items	55.72B	45.79B	84.24B	72.82B	21.9B
Per Share Items
Net EPS - Basic	34.83	28.61	52.63	45.49	13.67
Basic EPS - Continuing Operations	34.83	28.61	52.63	45.49	13.67
Basic Weighted Average Shares Outstanding	1.6B	1.6B	1.6B	1.6B	1.6B
Net EPS - Diluted	34.58	28.57	52.19	45.4	13.65
Diluted EPS - Continuing Operations	34.58	28.57	52.19	45.4	13.65
Diluted Weighted Average Shares Outstanding	1.61B	1.6B	1.61B	1.6B	1.6B
Normalized Basic EPS	34.63	38.07	53.42	32.27	34.74
Normalized Diluted EPS	34.38	38.01	52.98	32.21	34.68
Dividend Per Share	16	9	16	18	18
Payout Ratio	45.96	43.71	23.77	37.39	131.65
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	250B	206B	252B	219B	230B
EBITA	142B	90.26B	132B	92.62B	101B
EBIT	131B	90.26B	132B	92.62B	101B
EBITDAR	262B	-	-	-	-
Effective Tax Rate - (Ratio)	30.98	27.8	22.2	27.74	48.87
Normalized Net Income	55.41B	60.92B	85.51B	51.67B	55.64B
Non-Cash Pension Expense	2.38B	21.66B	22.12B	23.03B	22.92B
Supplemental Operating Expense Items
Selling and Marketing Expenses	33.42B	-	-	-	-
Research And Development Expense From Footnotes	66.88B	62.8B	62.1B	68.9B	70.5B
Net Rental Expense, Total	12.3B	-	-	-	-
Imputed Operating Lease Interest Expense	755M	-	-	-	-
Imputed Operating Lease Depreciation	11.54B	-	-	-	-

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	174B	236B	229B	224B	236B
Total Cash And Short Term Investments	174B	236B	229B	224B	236B
Accounts Receivable, Total	481B	522B	577B	586B	660B
Total Receivables	481B	522B	577B	586B	660B
Inventory	394B	369B	469B	522B	532B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	79.91B	53.32B	97.75B	97.57B	95.19B
Total Current Assets	1,128B	1,181B	1,373B	1,429B	1,523B
Net Property Plant And Equipment	1,007B	1,049B	1,038B	1,057B	1,132B
Long-term Investments	341B	441B	441B	503B	595B
Goodwill	71.95B	85.56B	88.12B	95.45B	96B
Other Intangibles, Total	78.74B	78.3B	80.71B	84.58B	95.27B
Loans Receivable Long-Term	5.58B	-	-	-	-
Deferred Tax Assets Long-Term	18.22B	14.41B	22.29B	24.27B	26.14B
Total Assets	2,651B	2,849B	3,044B	3,194B	3,467B
Liabilities
Accounts Payable, Total	212B	283B	327B	324B	340B
Accrued Expenses, Total	21.53B	-	-	-	-
Short-term Borrowings	132B	173B	153B	207B	260B
Current Portion of Long-Term Debt	108B	106B	127B	170B	120B
Current Portion of Leases	-	10.64B	10.59B	10.02B	11B
Current Income Taxes Payable	11.18B	11.96B	15.87B	9.02B	12.76B
Other Current Liabilities	145B	97.3B	105B	106B	122B
Total Current Liabilities	631B	681B	738B	826B	866B
Long-Term Debt	673B	655B	619B	534B	531B
Long-Term Leases	-	30.01B	27.03B	28.96B	28.28B
Pension & Other Post Retirement Benefits	102B	101B	98.38B	91.98B	86.4B
Deferred Tax Liability Non Current	33.92B	41.52B	42.67B	56.31B	89.33B
Other Non Current Liabilities	31.37B	18.2B	19.41B	20.65B	19.86B
Total Liabilities	1,471B	1,527B	1,544B	1,558B	1,620B
Common Stock, Total	148B	148B	148B	148B	148B
Additional Paid In Capital	118B	120B	121B	121B	121B
Retained Earnings	849B	900B	979B	1,037B	1,068B
Treasury Stock	-20.31B	-19.98B	-19.81B	-19.62B	-19.22B
Comprehensive Income and Other	455M	89.48B	178B	249B	418B
Total Common Equity	1,095B	1,238B	1,406B	1,535B	1,736B
Minority Interest	84.22B	84.42B	94.06B	101B	110B
Total Equity	1,180B	1,322B	1,500B	1,636B	1,846B
Total Liabilities And Equity	2,651B	2,849B	3,044B	3,194B	3,467B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.6B	1.6B	1.6B	1.6B	1.6B
ECS Total Common Shares Outstanding	1.6B	1.6B	1.6B	1.6B	1.6B
Book Value / Share	684.62	773.44	878.1	958.29	1.08K
Tangible Book Value	945B	1,074B	1,237B	1,355B	1,545B
Tangible Book Value Per Share	590.43	671.05	772.62	845.9	964.49
Total Debt	914B	974B	936B	950B	950B
Net Debt	740B	738B	706B	726B	714B
Debt Equivalent of Unfunded Proj. Benefit Obligation	80.79B	65.97B	70B	51.83B	15.42B
Debt Equivalent Oper. Leases	98.39B	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	84.22B	84.42B	94.06B	101B	110B
Equity Method Investments, Total	-	174B	183B	235B	229B
Inventories - Raw Materials, Total	99.18B	97.8B	124B	135B	142B
Inventories - Work In Process, Total	79.52B	76.09B	92.61B	112B	119B
Inventories - Finished Goods, Total	215B	195B	253B	275B	271B
Full Time Employees	48.03K	46.27K	48.84K	48.68K	48.14K
Accumulated Allowance for Doubtful Accounts (Supple)	2.57B	2.27B	3B	4.9B	3.5B

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	94.05B	65.57B	120B	112B	59.57B
Depreciation & Amortization - CF	107B	116B	120B	126B	129B
Amortization of Goodwill and Intangible Assets - (CF)	10.94B	-	-	-	-
Depreciation & Amortization, Total	118B	116B	120B	126B	129B
(Gain) Loss From Sale Of Asset	10.73B	28.87B	27.44B	6B	36.78B
(Gain) Loss on Sale of Investments - (CF)	-2.23B	-	-	-25.07B	-
(Income) Loss On Equity Investments - (CF)	10.8B	-12.81B	-19.34B	-7.4B	-8.85B
Other Operating Activities, Total	-18.84B	-13.74B	-24.24B	-29.06B	-19.42B
Change In Accounts Receivable	37.19B	-13.92B	-33.87B	3.4B	-51.38B
Change In Inventories	18.12B	46.7B	-75.95B	-33.61B	22.86B
Change In Accounts Payable	-23.58B	-7.25B	28.41B	-10.74B	-3.1B
Change in Other Net Operating Assets	-18.79B	2.35B	-4.85B	3.44B	20.03B
Cash from Operations	226B	212B	138B	145B	186B
Capital Expenditure	-136B	-122B	-92.2B	-102B	-134B
Sale of Property, Plant, and Equipment	6.02B	1.46B	3.28B	3.63B	2.4B
Cash Acquisitions	-	-	-4.82B	-	-6.46B
Sale (Purchase) of Intangible assets	-4.38B	-	-	-	-
Investment in Marketable and Equity Securities, Total	-926M	19B	37.33B	3.32B	19.64B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-3.98B	-	-	-	-
Other Investing Activities, Total	-3.33B	4.15B	-763M	-7.45B	-2.45B
Cash from Investing	-142B	-97.87B	-57.17B	-103B	-121B
Short Term Debt Issued, Total	10B	4.73B	-	45B	32.01B
Long-Term Debt Issued, Total	87.03B	75.04B	72.49B	70.37B	100B
Total Debt Issued	97.03B	79.77B	72.49B	115B	133B
Short Term Debt Repaid, Total	-40.02B	-	-32.65B	-	-
Long-Term Debt Repaid, Total	-91.58B	-115B	-107B	-129B	-186B
Total Debt Repaid	-132B	-115B	-139B	-129B	-186B
Repurchase of Common Stock	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-25.61B	-20.02B	-20.02B	-27.22B	-28.83B
Common & Preferred Stock Dividends Paid	-25.61B	-20.02B	-20.02B	-27.22B	-28.83B
Other Financing Activities, Total	-7.4B	-14.24B	-14.79B	-16.05B	11.81B
Cash from Financing	-67.59B	-69.4B	-102B	-57.38B	-70.37B
Foreign Exchange Rate Adjustments	-5.21B	8.34B	14.4B	8.53B	17.58B
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	10.6B	52.65B	-6B	-6.36B	11.89B
Supplemental Items
Cash Interest Paid	5.55B	5.74B	4.96B	10.73B	16.75B
Cash Income Tax Paid (Refund)	29.92B	26.47B	37.68B	42.32B	29.8B
Levered Free Cash Flow	87.17B	58.05B	-35.61B	5.11B	1.76B
Unlevered Free Cash Flow	91.69B	61.6B	-32.49B	11.78B	12.29B
Change In Net Working Capital	-31.52B	-11.85B	143B	70.27B	45.78B
Net Debt Issued / Repaid	-34.58B	-35.14B	-66.71B	-14.1B	-53.35B

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	3.01	2.05	2.8	1.86	1.89
Return on Total Capital	3.83	2.57	3.49	2.31	2.34
Return On Equity %	5.42	3.78	6.63	5.16	1.75
Return on Common Equity	5	3.93	6.37	4.95	1.34
Margin Analysis
Gross Profit Margin %	19.79	20.04	19.56	16.91	18
SG&A Margin	10.57	15.24	13.72	13.29	14.05
EBITDA Margin %	11.27	10.94	11.33	8.8	9.33
EBITA Margin %	6.42	4.79	5.93	3.72	4.09
EBIT Margin %	5.92	4.79	5.93	3.72	4.09
Income From Continuing Operations Margin %	2.93	2.51	4.2	3.25	1.24
Net Income Margin %	2.52	2.43	3.78	2.93	0.89
Net Avail. For Common Margin %	2.52	2.43	3.78	2.93	0.89
Normalized Net Income Margin	2.5	3.23	3.84	2.08	2.26
Levered Free Cash Flow Margin	3.94	3.08	-1.6	0.21	0.07
Unlevered Free Cash Flow Margin	4.14	3.27	-1.46	0.47	0.5
Asset Turnover
Asset Turnover	0.81	0.69	0.76	0.8	0.74
Fixed Assets Turnover	2.21	1.83	2.14	2.38	2.25
Receivables Turnover (Average Receivables)	4.39	3.75	4.06	4.28	3.96
Inventory Turnover (Average Inventory)	4.37	3.95	4.28	4.17	3.84
Short Term Liquidity
Current Ratio	1.79	1.73	1.86	1.73	1.76
Quick Ratio	1.04	1.11	1.09	0.98	1.03
Operating Cash Flow to Current Liabilities	0.36	0.31	0.19	0.18	0.21
Days Sales Outstanding (Average Receivables)	83.46	97.22	90.01	85.26	92.5
Days Outstanding Inventory (Average Inventory)	83.78	92.43	85.36	87.43	95.39
Average Days Payable Outstanding	47.35	60.99	58.84	56.07	59.85
Cash Conversion Cycle (Average Days)	119.89	128.66	116.53	116.62	128.04
Long Term Solvency
Total Debt/Equity	77.45	73.66	62.39	58.08	51.44
Total Debt / Total Capital	43.65	42.41	38.42	36.74	33.97
LT Debt/Equity	57.06	51.78	43.05	34.42	30.27
Long-Term Debt / Total Capital	32.16	29.82	26.51	21.77	19.99
Total Liabilities / Total Assets	55.5	53.59	50.73	48.79	46.74
EBIT / Interest Expense	18.13	15.89	26.44	8.68	5.99
EBITDA / Interest Expense	34.49	36.29	50.54	20.52	13.66
(EBITDA - Capex) / Interest Expense	15.72	14.72	32.08	10.94	5.69
Total Debt / EBITDA	3.66	4.73	3.71	4.34	4.13
Net Debt / EBITDA	2.97	3.58	2.8	3.32	3.1
Total Debt / (EBITDA - Capex)	8.03	11.65	5.84	8.14	9.91
Net Debt / (EBITDA - Capex)	6.5	8.82	4.41	6.22	7.45
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-7.29	-14.95	18.31	11.7	-0.99
Gross Profit, 1 Yr. Growth %	-3.31	-13.88	15.49	-3.47	5.39
EBITDA, 1 Yr. Growth %	-2.07	-17.4	22.49	-13.24	5.02
EBITA, 1 Yr. Growth %	-7.15	-36.49	46.31	-29.86	8.84
EBIT, 1 Yr. Growth %	-7.27	-31.19	46.31	-29.86	8.84
Earnings From Cont. Operations, 1 Yr. Growth %	-26.05	-27.08	97.74	-13.64	-62.33
Net Income, 1 Yr. Growth %	-29.79	-17.82	83.94	-13.55	-69.93
Normalized Net Income, 1 Yr. Growth %	-26.77	9.96	40.35	-39.58	7.7
Diluted EPS Before Extra, 1 Yr. Growth %	-30.23	-17.38	82.67	-13.01	-69.93
Accounts Receivable, 1 Yr. Growth %	-9	8.53	10.46	1.6	12.54
Inventory, 1 Yr. Growth %	-6.17	-6.24	27.15	11.14	1.99
Net Property, Plant and Equip., 1 Yr. Growth %	0.97	4.21	-0.99	1.78	7.06
Total Assets, 1 Yr. Growth %	-4.94	7.48	6.85	4.93	8.53
Tangible Book Value, 1 Yr. Growth %	-1.71	13.69	15.16	9.56	14
Common Equity, 1 Yr. Growth %	-3.27	13.01	13.55	9.21	13.09
Cash From Operations, 1 Yr. Growth %	28.1	-6.28	-34.64	5.01	27.87
Capital Expenditures, 1 Yr. Growth %	-18.12	-9.79	-24.73	10.87	31.22
Levered Free Cash Flow, 1 Yr. Growth %	652.65	-33.4	-161.34	-114.35	-65.54
Unlevered Free Cash Flow, 1 Yr. Growth %	471.03	-32.82	-152.74	-136.26	4.28
Dividend Per Share, 1 Yr. Growth %	0	-43.75	77.78	12.5	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	0.22	-11.2	0.31	14.96	5.16
Gross Profit, 2 Yr. CAGR %	-2.04	-8.75	-0.27	5.58	0.86
EBITDA, 2 Yr. CAGR %	-2.25	-10.06	0.58	3.09	-4.55
EBITA, 2 Yr. CAGR %	-7.28	-23.21	-3.61	1.3	-12.63
EBIT, 2 Yr. CAGR %	-8.43	-20.12	0.33	1.3	-12.63
Earnings From Cont. Operations, 2 Yr. CAGR %	-20.68	-26.57	20.08	30.68	-42.96
Net Income, 2 Yr. CAGR %	-23.78	-24.04	22.95	26.1	-49.01
Normalized Net Income, 2 Yr. CAGR %	-20.62	-10.26	24.23	-7.91	-19.33
Diluted EPS Before Extra, 2 Yr. CAGR %	-24.02	-24.07	22.85	26.06	-48.86
Accounts Receivable, 2 Yr. CAGR %	-0.65	-0.62	9.49	5.94	6.93
Inventory, 2 Yr. CAGR %	-5.38	-6.2	9.19	18.87	6.46
Net Property, Plant and Equip., 2 Yr. CAGR %	4.2	2.57	1.58	0.39	4.39
Total Assets, 2 Yr. CAGR %	1.11	1.08	7.16	5.89	6.72
Tangible Book Value, 2 Yr. CAGR %	-3.92	5.71	14.42	12.32	11.76
Common Equity, 2 Yr. CAGR %	0.15	4.55	13.28	11.36	11.13
Cash From Operations, 2 Yr. CAGR %	32.2	9.57	-21.74	-17.16	15.88
Capital Expenditures, 2 Yr. CAGR %	-3.37	-14.05	-17.6	-8.65	20.62
Levered Free Cash Flow, 2 Yr. CAGR %	152.1	123.88	-36.08	-70.33	-77.76
Unlevered Free Cash Flow, 2 Yr. CAGR %	195.03	95.86	-40.48	-56.27	-38.5
Dividend Per Share, 2 Yr. CAGR %	3.28	-25	0	41.42	6.07
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	3	-5.11	-2.29	3.97	9.38
Gross Profit, 3 Yr. CAGR %	0.64	-6.16	-1.3	-1.35	5.52
EBITDA, 3 Yr. CAGR %	0.69	-7.59	-0.31	-4.25	3.73
EBITA, 3 Yr. CAGR %	-2.93	-18.27	-4.8	-13.3	3.75
EBIT, 3 Yr. CAGR %	-3.7	-16.75	-2.27	-10.95	3.75
Earnings From Cont. Operations, 3 Yr. CAGR %	-15.06	-22.87	2.16	7.59	-13.67
Net Income, 3 Yr. CAGR %	-17.55	-21.84	2	9.33	-21.8
Normalized Net Income, 3 Yr. CAGR %	-12.71	-11.51	4.16	-2.3	-2.98
Diluted EPS Before Extra, 3 Yr. CAGR %	-17.73	-21.87	1.74	9.5	-21.82
Accounts Receivable, 3 Yr. CAGR %	4.31	2.32	2.94	6.8	8.09
Inventory, 3 Yr. CAGR %	-1.29	-5.66	3.81	9.83	12.96
Net Property, Plant and Equip., 3 Yr. CAGR %	4.52	4.2	1.37	1.64	2.56
Total Assets, 3 Yr. CAGR %	3.41	3.19	2.97	6.41	6.76
Tangible Book Value, 3 Yr. CAGR %	-0.02	1.62	8.77	12.78	12.88
Common Equity, 3 Yr. CAGR %	2.32	4.27	7.47	11.91	11.93
Cash From Operations, 3 Yr. CAGR %	9.08	17.88	-7.77	-13.68	-4.26
Capital Expenditures, 3 Yr. CAGR %	-1.27	-5.56	-17.77	-9.03	3.07
Levered Free Cash Flow, 3 Yr. CAGR %	34.05	61.76	45.41	-61.15	-68.81
Unlevered Free Cash Flow, 3 Yr. CAGR %	32.86	80.16	26.48	-49.54	-41.57
Dividend Per Share, 3 Yr. CAGR %	4.55	-15.66	0	4	25.99
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	1.95	-2.19	1.92	2.46	0.63
Gross Profit, 5 Yr. CAGR %	1.89	-3.1	0.28	-1.63	-0.44
EBITDA, 5 Yr. CAGR %	3.26	-4.15	0.64	-3.46	-2.03
EBITA, 5 Yr. CAGR %	1.63	-11.2	-3.2	-10.94	-8.01
EBIT, 5 Yr. CAGR %	1.22	-10.19	-2.11	-9.95	-6.55
Earnings From Cont. Operations, 5 Yr. CAGR %	-2.78	-13.4	-2.45	-4.76	-19.08
Net Income, 5 Yr. CAGR %	-4.74	-12.67	-3.26	-5.36	-22.71
Normalized Net Income, 5 Yr. CAGR %	-6.28	-6.84	0.52	-10.09	-5.96
Diluted EPS Before Extra, 5 Yr. CAGR %	-4.82	-12.69	-3.42	-5.39	-22.73
Accounts Receivable, 5 Yr. CAGR %	3.58	5.46	6.36	3.75	4.52
Inventory, 5 Yr. CAGR %	0.1	-1.3	2.77	3.48	4.86
Net Property, Plant and Equip., 5 Yr. CAGR %	3.3	4.78	3.33	2.66	2.57
Total Assets, 5 Yr. CAGR %	2.37	4.57	4.9	4.26	4.45
Tangible Book Value, 5 Yr. CAGR %	1.24	4.55	5.52	5.77	9.96
Common Equity, 5 Yr. CAGR %	2.11	5.51	6.57	7.05	8.92
Cash From Operations, 5 Yr. CAGR %	9.83	1.53	-4.49	2.37	1.05
Capital Expenditures, 5 Yr. CAGR %	1.89	-0.05	-8.16	-6.81	-4.15
Levered Free Cash Flow, 5 Yr. CAGR %	18.81	0.62	-0.32	-17.92	-31.39
Unlevered Free Cash Flow, 5 Yr. CAGR %	22.79	0.65	-3.64	2.26	-5.21
Dividend Per Share, 5 Yr. CAGR %	7.78	-7.09	2.71	3.71	2.38