Cash flow Zensho Holdings Co., Ltd.

Equities

7550

JP3429300001

Restaurants & Bars

Delayed Japan Exchange Other stock markets 00:09:51 16/03/2026 GMT			5-day change	1st Jan Change
9,449.00 ^JPY	-1.15%		-3.51%	+5.28%

02-12	Zensho Holdings Co., Ltd. Reports Earnings Results for the Nine Months Ended December 31, 2025	CI
11-12	Tranche Update on Zensho Holdings Co., Ltd.'s Equity Buyback Plan announced on November 11, 2025.	CI

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Published financial data: ZENSHO HOLDINGS CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	595B	659B	780B	966B	1,137B
Total Revenues	595B	659B	780B	966B	1,137B
Cost of Goods Sold, Total	254B	311B	365B	442B	514B
Gross Profit	341B	348B	415B	524B	622B
Selling General & Admin Expenses, Total	328B	338B	393B	470B	547B
Depreciation & Amortization - (IS)	474M	-	-	-	-
Other Operating Expenses, Total	329B	338B	393B	470B	547B
Operating Income	11.62B	9.23B	21.73B	53.71B	75.13B
Interest Expense, Total	-2.22B	-2.68B	-2.85B	-3.79B	-5.74B
Interest And Investment Income	385M	524M	481M	855M	2.1B
Net Interest Expenses	-1.84B	-2.15B	-2.37B	-2.94B	-3.63B
Income (Loss) On Equity Invest.	7M	5M	7M	6M	21M
Currency Exchange Gains (Loss)	208M	908M	1.76B	-147M	548M
Other Non Operating Income (Expenses)	2.22B	15.12B	6.95B	279M	-175M
EBT, Excl. Unusual Items	12.22B	23.12B	28.08B	50.91B	71.89B
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	64M	-91M
Asset Writedown	-5.44B	-8.68B	-4.2B	-3.24B	-7.37B
Other Unusual Items	-1.34B	11.85B	-388M	-211M	-927M
EBT, Incl. Unusual Items	5.44B	26.28B	23.49B	47.52B	63.5B
Income Tax Expense	3.26B	12.39B	10.21B	16.82B	24.2B
Earnings From Continuing Operations	2.18B	13.89B	13.28B	30.71B	39.3B
Net Income to Company	2.18B	13.89B	13.28B	30.71B	39.3B
Minority Interest	83M	-23M	-12M	-16M	-13M
Net Income - (IS)	2.26B	13.87B	13.26B	30.69B	39.29B
Preferred Dividend and Other Adjustments	-	-	-	812M	1.62B
Net Income to Common Incl Extra Items	2.26B	13.87B	13.26B	29.88B	37.67B
Net Income to Common Excl. Extra Items	2.26B	13.87B	13.26B	29.88B	37.67B
Per Share Items
Net EPS - Basic	14.81	91.17	87.3	195.41	240.45
Basic EPS - Continuing Operations	14.81	91.17	87.3	195.41	240.45
Basic Weighted Average Shares Outstanding	153M	152M	152M	153M	157M
Net EPS - Diluted	14.81	91.17	87.3	195.41	240.45
Diluted EPS - Continuing Operations	14.81	91.17	87.3	195.41	240.45
Diluted Weighted Average Shares Outstanding	153M	152M	152M	153M	157M
Normalized Basic EPS	50.6	94.82	115.42	207.98	286.71
Normalized Diluted EPS	50.6	94.82	115.42	207.98	286.71
Dividend Per Share	20	22	24	50	70
Payout Ratio	135.28	23.02	26.26	18.25	28.01
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	38.11B	39.12B	53.75B	89.92B	123B
EBITA	13.34B	10.78B	23.32B	55.48B	76.58B
EBIT	11.62B	9.23B	21.73B	53.71B	75.13B
EBITDAR	87.86B	88.19B	107B	149B	186B
Effective Tax Rate - (Ratio)	59.98	47.14	43.47	35.38	38.11
Normalized Net Income	7.72B	14.43B	17.54B	31.8B	44.92B
Non-Cash Pension Expense	49M	54M	50M	29M	24M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	-	-	-	682M	485M
Net Rental Expense, Total	49.75B	49.08B	53.17B	59.54B	62.45B
Imputed Operating Lease Interest Expense	4.12B	4.59B	5.02B	6.09B	8.12B
Imputed Operating Lease Depreciation	45.63B	44.49B	48.15B	53.45B	54.33B

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	37.64B	42.41B	64.69B	82.17B	79.7B
Short Term Investments	-	-	-	19.91B	12.04B
Total Cash And Short Term Investments	37.64B	42.41B	64.69B	102B	91.74B
Accounts Receivable, Total	22.29B	24.29B	28.58B	46.36B	52.91B
Total Receivables	22.29B	24.29B	28.58B	46.36B	52.91B
Inventory	25.46B	38.87B	42.83B	48.9B	72.05B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	23.63B	26.87B	21.89B	27.12B	35.3B
Total Current Assets	109B	132B	158B	224B	252B
Net Property Plant And Equipment	163B	169B	182B	232B	274B
Long-term Investments	57.57B	55.11B	55.81B	60.53B	60.11B
Goodwill	15.19B	13.11B	11.65B	13.62B	11.23B
Other Intangibles, Total	43.06B	49.78B	53.79B	207B	205B
Loans Receivable Long-Term	80M	76M	71M	-	-
Deferred Tax Assets Long-Term	8.05B	7.93B	8.36B	9.92B	10.31B
Deferred Charges Long-Term	55M	62M	67M	852M	580M
Other Long-Term Assets, Total	2M	2M	2M	2M	2M
Total Assets	396B	427B	470B	748B	813B
Liabilities
Accounts Payable, Total	24.68B	26.99B	29.32B	43.15B	56.39B
Accrued Expenses, Total	2.22B	2.95B	3.01B	4.08B	5.01B
Short-term Borrowings	1.15B	459M	7.6B	7.54B	6.86B
Current Portion of Long-Term Debt	56.34B	29.38B	16.16B	36.74B	29.92B
Current Portion of Leases	8.44B	9.26B	9.54B	13.62B	17.16B
Current Income Taxes Payable	1.11B	8.78B	3.97B	14.97B	15.45B
Other Current Liabilities	35.61B	31.92B	41.18B	60.61B	60.33B
Total Current Liabilities	130B	110B	111B	181B	191B
Long-Term Debt	138B	167B	193B	239B	263B
Long-Term Leases	24.8B	24.29B	26.14B	42.72B	48.84B
Pension & Other Post Retirement Benefits	707M	707M	681M	274M	284M
Deferred Tax Liability Non Current	10.92B	12.5B	13.61B	57.1B	56.53B
Other Non Current Liabilities	6.98B	8.77B	9.08B	13.23B	13.05B
Total Liabilities	311B	323B	354B	533B	573B
Common Stock, Total	27B	27B	27B	47.5B	47.5B
Additional Paid In Capital	24.82B	24.82B	23.81B	74.11B	74.11B
Retained Earnings	41.23B	51.08B	60.58B	85.46B	113B
Treasury Stock	-5.83B	-5.84B	-6.92B	-13.72B	-13.72B
Comprehensive Income and Other	-1.89B	6.26B	11.17B	21.03B	19.08B
Total Common Equity	85.32B	103B	116B	214B	240B
Minority Interest	107M	1.16B	203M	267M	309M
Total Equity	85.43B	104B	116B	215B	240B
Total Liabilities And Equity	396B	427B	470B	748B	813B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	152M	152M	152M	157M	157M
ECS Total Common Shares Outstanding	152M	152M	152M	157M	157M
Book Value / Share	560.87	679.18	761.63	1.37K	1.53K
Tangible Book Value	27.08B	40.43B	50.19B	-5.9B	24.32B
Tangible Book Value Per Share	178.02	265.8	330.56	-37.63	155.24
Total Debt	228B	230B	253B	340B	366B
Net Debt	191B	188B	188B	238B	274B
Debt Equivalent of Unfunded Proj. Benefit Obligation	706M	707M	681M	274M	285M
Debt Equivalent Oper. Leases	398B	393B	425B	476B	500B
Minority Interest, Total (Incl. Fin. Div)	107M	1.16B	203M	267M	309M
Inventories - Raw Materials, Total	7.81B	10.34B	11.92B	41.06B	63.96B
Inventories - Work In Process, Total	813M	998M	1.27B	2.73B	3.24B
Inventories - Finished Goods, Total	16.84B	27.53B	29.64B	5.11B	4.85B
Full Time Employees	16.25K	15.93K	17.32K	16.81K	18.74K
Accumulated Allowance for Doubtful Accounts (Supple)	112M	168M	166M	365M	409M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	5.44B	26.28B	23.49B	47.53B	63.5B
Depreciation & Amortization - CF	24.78B	28.34B	30.44B	34.44B	46.51B
Amortization of Goodwill and Intangible Assets - (CF)	1.72B	1.55B	1.58B	1.77B	1.45B
Depreciation & Amortization, Total	26.5B	29.88B	32.02B	36.21B	47.96B
(Gain) Loss From Sale Of Asset	4.56B	8.12B	3.79B	3.21B	4.49B
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-7M	-	-	-	-
Other Operating Activities, Total	-4.32B	25.27B	-17.53B	-5.6B	-23.08B
Change In Accounts Receivable	-8.2B	-706M	-3.47B	-8.2B	-6.88B
Change In Inventories	2.55B	-12.72B	-3.28B	-1.27B	-22.47B
Change In Accounts Payable	8.7B	-5.07B	8.04B	9.14B	9.22B
Change in Other Net Operating Assets	-5.52B	-25.62B	10.02B	4.97B	6.21B
Cash from Operations	29.69B	45.43B	53.08B	85.98B	78.95B
Capital Expenditure	-20.29B	-27.51B	-30.98B	-40.12B	-61.52B
Sale of Property, Plant, and Equipment	42M	855M	17M	45M	233M
Cash Acquisitions	-	-	-	-58.19B	-
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-1.14B	-1.26B	-1.52B	-1.98B	-2.28B
Investment in Marketable and Equity Securities, Total	-403M	-1.09B	-522M	-20.87B	-343M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-150M	-1.13B	-	-	-
Other Investing Activities, Total	-1.59B	-1.41B	-2.2B	-4.27B	-2.59B
Cash from Investing	-23.52B	-31.55B	-35.2B	-125B	-66.5B
Short Term Debt Issued, Total	-	-	7.19B	-	-
Long-Term Debt Issued, Total	41.45B	58.21B	42.18B	146B	73.56B
Total Debt Issued	41.45B	58.21B	49.37B	146B	73.56B
Short Term Debt Repaid, Total	-244M	-922M	-	-1.32B	-1.49B
Long-Term Debt Repaid, Total	-26.97B	-56.85B	-29.59B	-133B	-57.92B
Total Debt Repaid	-27.21B	-57.77B	-29.59B	-134B	-59.42B
Issuance of Common Stock	4M	2M	-	70.02B	-
Repurchase of Common Stock	-3.57B	-13M	-1.08B	-6.8B	-10M
Common Dividends Paid	-3.06B	-3.19B	-3.48B	-5.6B	-11.01B
Common & Preferred Stock Dividends Paid	-3.06B	-3.19B	-3.48B	-5.6B	-11.01B
Other Financing Activities, Total	-5.87B	-9.22B	-13.37B	-14.49B	-19.35B
Cash from Financing	1.75B	-11.99B	1.84B	54.63B	-16.22B
Foreign Exchange Rate Adjustments	746M	2.42B	2.19B	1.75B	703M
Miscellaneous Cash Flow Adjustments	49M	460M	362M	495M	589M
Net Change in Cash	8.72B	4.77B	22.28B	17.48B	-2.48B
Supplemental Items
Cash Interest Paid	2.2B	2.65B	2.84B	4B	5.22B
Cash Income Tax Paid (Refund)	4.87B	4.78B	18.5B	5.2B	22.82B
Levered Free Cash Flow	3.88B	-6.41B	14.89B	41.56B	4.01B
Unlevered Free Cash Flow	5.27B	-4.74B	16.67B	43.93B	7.59B
Change In Net Working Capital	7.06B	11.62B	-3.56B	-16.24B	23.53B
Net Debt Issued / Repaid	14.24B	437M	19.78B	11.5B	14.14B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.91	1.4	3.03	5.51	6.02
Return on Total Capital	2.41	1.78	3.86	7.27	8.09
Return On Equity %	2.53	14.63	12.05	18.58	17.28
Return on Common Equity	2.63	14.7	12.12	18.11	16.58
Margin Analysis
Gross Profit Margin %	57.24	52.79	53.19	54.26	54.74
SG&A Margin	55.2	51.39	50.4	48.7	48.13
EBITDA Margin %	6.4	5.94	6.89	9.31	10.83
EBITA Margin %	2.24	1.64	2.99	5.74	6.74
EBIT Margin %	1.95	1.4	2.79	5.56	6.61
Income From Continuing Operations Margin %	0.37	2.11	1.7	3.18	3.46
Net Income Margin %	0.38	2.11	1.7	3.18	3.46
Net Avail. For Common Margin %	0.38	2.11	1.7	3.09	3.31
Normalized Net Income Margin	1.3	2.19	2.25	3.29	3.95
Levered Free Cash Flow Margin	0.65	-0.97	1.91	4.3	0.35
Unlevered Free Cash Flow Margin	0.89	-0.72	2.14	4.55	0.67
Asset Turnover
Asset Turnover	1.56	1.6	1.74	1.59	1.46
Fixed Assets Turnover	3.79	3.97	4.45	4.67	4.49
Receivables Turnover (Average Receivables)	32.97	28.27	29.5	25.77	22.9
Inventory Turnover (Average Inventory)	9.56	9.67	8.94	9.63	8.51
Short Term Liquidity
Current Ratio	0.84	1.21	1.43	1.24	1.32
Quick Ratio	0.46	0.61	0.84	0.82	0.76
Operating Cash Flow to Current Liabilities	0.23	0.41	0.48	0.48	0.41
Days Sales Outstanding (Average Receivables)	11.07	12.91	12.37	14.2	15.94
Days Outstanding Inventory (Average Inventory)	38.2	37.76	40.84	38	42.91
Average Days Payable Outstanding	32.53	29.08	27.84	29.61	33.79
Cash Conversion Cycle (Average Days)	16.74	21.6	25.36	22.59	25.06
Long Term Solvency
Total Debt/Equity	267.32	220.18	218.3	158.39	152.14
Total Debt / Total Capital	72.78	68.77	68.58	61.3	60.34
LT Debt/Equity	190.15	182.76	189.55	131.42	129.7
Long-Term Debt / Total Capital	51.77	57.08	59.55	50.86	51.44
Total Liabilities / Total Assets	78.43	75.54	75.33	71.31	70.44
EBIT / Interest Expense	5.22	3.45	7.63	14.17	13.1
EBITDA / Interest Expense	17.13	14.61	18.87	23.72	21.46
(EBITDA - Capex) / Interest Expense	8.01	4.33	7.99	13.14	10.73
Total Debt / EBITDA	5.99	5.88	4.7	3.78	2.97
Net Debt / EBITDA	5	4.8	3.5	2.65	2.23
Total Debt / (EBITDA - Capex)	12.81	19.83	11.11	6.83	5.94
Net Debt / (EBITDA - Capex)	10.7	16.17	8.26	4.78	4.45
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-5.61	10.66	18.44	23.82	17.7
Gross Profit, 1 Yr. Growth %	-6.11	2.07	19.34	26.32	18.73
EBITDA, 1 Yr. Growth %	-13.66	2.64	37.42	67.28	36.89
EBITA, 1 Yr. Growth %	-39.78	-19.17	116.32	137.93	38.03
EBIT, 1 Yr. Growth %	-43.02	-20.51	135.39	147.12	39.88
Earnings From Cont. Operations, 1 Yr. Growth %	-81.35	538.42	-4.43	131.29	27.99
Net Income, 1 Yr. Growth %	-81.14	513.94	-4.36	131.38	28.01
Normalized Net Income, 1 Yr. Growth %	-39.47	86.92	21.58	81.35	41.23
Diluted EPS Before Extra, 1 Yr. Growth %	-81.56	515.52	-4.24	123.83	23.05
Accounts Receivable, 1 Yr. Growth %	61.44	8.99	17.66	62.21	14.13
Inventory, 1 Yr. Growth %	-8.4	52.63	10.19	14.18	47.34
Net Property, Plant and Equip., 1 Yr. Growth %	7.79	3.48	7.8	27.61	18.25
Total Assets, 1 Yr. Growth %	8.25	7.87	9.92	59.31	8.7
Tangible Book Value, 1 Yr. Growth %	-2.47	49.31	24.12	-111.75	-512.55
Common Equity, 1 Yr. Growth %	-1.49	21.09	11.92	85.4	11.98
Cash From Operations, 1 Yr. Growth %	-11.58	53.04	16.83	62	-8.18
Capital Expenditures, 1 Yr. Growth %	-15.4	35.63	12.61	29.49	53.34
Levered Free Cash Flow, 1 Yr. Growth %	-37.04	-265.22	-332.09	179.18	-90.36
Unlevered Free Cash Flow, 1 Yr. Growth %	-28.82	-189.91	-451.57	163.57	-82.71
Dividend Per Share, 1 Yr. Growth %	0	10	9.09	108.33	40
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-1.04	2.2	14.49	21.1	20.72
Gross Profit, 2 Yr. CAGR %	-0.85	-2.11	10.37	22.78	22.46
EBITDA, 2 Yr. CAGR %	-2.57	-5.87	18.76	51.61	51.32
EBITA, 2 Yr. CAGR %	-18.01	-30.23	32.23	126.87	81.23
EBIT, 2 Yr. CAGR %	-20.59	-32.7	36.79	141.19	85.92
Earnings From Cont. Operations, 2 Yr. CAGR %	-54.16	9.12	147.01	48.68	72.05
Net Income, 2 Yr. CAGR %	-52.29	7.6	142.32	48.76	72.1
Normalized Net Income, 2 Yr. CAGR %	-16.04	6.36	50.75	48.48	60.04
Diluted EPS Before Extra, 2 Yr. CAGR %	-53.3	6.55	142.78	46.4	65.96
Accounts Receivable, 2 Yr. CAGR %	25.22	32.65	13.24	38.15	36.06
Inventory, 2 Yr. CAGR %	-3.31	18.24	29.69	12.17	29.71
Net Property, Plant and Equip., 2 Yr. CAGR %	7.23	5.61	5.61	17.29	22.84
Total Assets, 2 Yr. CAGR %	2.39	8.06	8.89	32.33	31.59
Tangible Book Value, 2 Yr. CAGR %	24.38	20.67	36.13	-61.82	-30.39
Common Equity, 2 Yr. CAGR %	8.74	9.22	16.41	44.05	44.09
Cash From Operations, 2 Yr. CAGR %	-5.34	16.32	33.72	37.58	21.96
Capital Expenditures, 2 Yr. CAGR %	-3.02	7.11	23.58	20.76	40.91
Levered Free Cash Flow, 2 Yr. CAGR %	-26.46	1.99	95.82	154.55	-48.11
Unlevered Free Cash Flow, 2 Yr. CAGR %	-18.49	-20	77.79	204.4	-32.5
Dividend Per Share, 2 Yr. CAGR %	5.41	4.88	9.54	50.76	70.78
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	0.91	2.71	7.35	17.52	19.96
Gross Profit, 3 Yr. CAGR %	1.3	0.11	4.58	15.45	21.42
EBITDA, 3 Yr. CAGR %	0.37	-0.87	6.79	33.13	46.54
EBITA, 3 Yr. CAGR %	-10.9	-18.4	1.74	60.83	92.24
EBIT, 3 Yr. CAGR %	-12.49	-20.57	2.16	66.6	101.14
Earnings From Cont. Operations, 3 Yr. CAGR %	-36.65	10.29	4.4	141.66	41.43
Net Income, 3 Yr. CAGR %	-34.4	11.8	3.46	138.62	41.5
Normalized Net Income, 3 Yr. CAGR %	-9.68	9.63	11.21	60.33	46.03
Diluted EPS Before Extra, 3 Yr. CAGR %	-35.1	10.31	2.82	136.29	38.16
Accounts Receivable, 3 Yr. CAGR %	39.95	19.56	27.45	27.65	29.63
Inventory, 3 Yr. CAGR %	5.7	12.58	15.5	24.3	22.85
Net Property, Plant and Equip., 3 Yr. CAGR %	6.41	5.96	6.33	12.49	17.61
Total Assets, 3 Yr. CAGR %	10.09	4.18	8.67	23.62	23.93
Tangible Book Value, 3 Yr. CAGR %	-16.38	32.19	21.81	-39.84	-15.59
Common Equity, 3 Yr. CAGR %	8.13	12.71	10.11	35.95	32.45
Cash From Operations, 3 Yr. CAGR %	-7.21	11.1	16.49	42.55	20.23
Capital Expenditures, 3 Yr. CAGR %	-4.01	8.45	8.92	25.52	30.77
Levered Free Cash Flow, 3 Yr. CAGR %	-23.51	-3.68	34.15	120.4	-14.51
Unlevered Free Cash Flow, 3 Yr. CAGR %	-16.86	-15.78	31.04	102.72	17
Dividend Per Share, 3 Yr. CAGR %	3.57	6.92	6.27	35.72	47.08
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.51	3.89	6.14	9.71	12.51
Gross Profit, 5 Yr. CAGR %	2.73	2.17	4.84	8.63	11.39
EBITDA, 5 Yr. CAGR %	3.89	0.25	7.36	17.5	22.76
EBITA, 5 Yr. CAGR %	0.14	-11.41	4.34	22.83	28.17
EBIT, 5 Yr. CAGR %	-0.84	-12.96	4.63	23.86	29.81
Earnings From Cont. Operations, 5 Yr. CAGR %	-14.58	8.19	9.18	24.28	27.5
Net Income, 5 Yr. CAGR %	-10.91	10.44	10.64	25.33	26.82
Normalized Net Income, 5 Yr. CAGR %	3.97	6.85	10.86	23.77	28.64
Diluted EPS Before Extra, 5 Yr. CAGR %	-11.37	9.9	10.01	23.53	24.52
Accounts Receivable, 5 Yr. CAGR %	32.65	30.62	28.58	26.67	30.83
Inventory, 5 Yr. CAGR %	2.68	10.51	14.71	12.42	20.98
Net Property, Plant and Equip., 5 Yr. CAGR %	5.04	5.35	6.09	10.35	12.65
Total Assets, 5 Yr. CAGR %	7.31	8.13	9.61	14.64	17.32
Tangible Book Value, 5 Yr. CAGR %	-9.85	-2.55	1.62	-19.56	-2.62
Common Equity, 5 Yr. CAGR %	6.71	8.76	11.37	24.33	22.62
Cash From Operations, 5 Yr. CAGR %	3.12	4.16	7.39	21.02	18.65
Capital Expenditures, 5 Yr. CAGR %	4.39	6.62	6.2	13.21	20.74
Levered Free Cash Flow, 5 Yr. CAGR %	-3.9	-12.44	11.41	42.08	-8.25
Unlevered Free Cash Flow, 5 Yr. CAGR %	-1	-18.42	12.68	40.81	0.5
Dividend Per Share, 5 Yr. CAGR %	17.32	4.1	5.92	22.67	28.47