Cash flow ZOZO, Inc.

Equities

3092

JP3399310006

Department Stores

Market Closed - Japan Exchange Other stock markets 07:00:00 06/09/2024 BST			5-day change	1st Jan Change
4,704.00 ^JPY	+1.05%		+1.31%	+48.16%

08-02	Zozo Reports 0.8% Decline in Attributable Profit in Fiscal Q1	MT
07-31	Transcript : ZOZO, Inc., Q1 2025 Earnings Call, Jul 31, 2024

2a80f400888e9340f943a9f7.d-gIi20s9pP2rc19QZoInA68vWcdzB36TJQ57nwCEEg.Qt1B7gdLx6TA96AwBdZc2n3UjAor_jCrfft0oSlMagQCuWHBOXXb4aPZjA

Published financial data: ZOZO, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	126B	147B	166B	183B	197B
Total Revenues	126B	147B	166B	183B	197B
Cost of Goods Sold, Total	11.8B	7.37B	10.03B	12.08B	13.87B
Gross Profit	114B	140B	156B	171B	183B
Selling General & Admin Expenses, Total	83.34B	93.46B	104B	112B	119B
Provision for Bad Debts	204M	33M	25M	-168M	-51M
Depreciation & Amortization - (IS)	2.04B	2.05B	1.98B	2.05B	3.49B
Amortization of Goodwill and Intangible Assets - (IS)	444M	375M	404M	460M	352M
Other Operating Expenses, Total	86.04B	95.92B	107B	115B	123B
Operating Income	27.69B	44.11B	49.63B	56.59B	60.13B
Interest Expense, Total	-92M	-71M	-74M	-78M	-77M
Interest And Investment Income	2M	6M	11M	9M	5M
Net Interest Expenses	-90M	-65M	-63M	-69M	-72M
Currency Exchange Gains (Loss)	-68M	23M	3M	62M	91M
Other Non Operating Income (Expenses)	114M	317M	81M	132M	-387M
EBT, Excl. Unusual Items	27.64B	44.38B	49.65B	56.72B	59.76B
Gain (Loss) On Sale Of Investments	-1.65B	32M	-	17M	726M
Gain (Loss) On Sale Of Assets	-14M	-554M	-67M	-64M	-65M
Asset Writedown	-	-	-81M	-27M	-
Other Unusual Items	131M	-198M	-220M	0	1M
EBT, Incl. Unusual Items	26.11B	43.66B	49.28B	56.64B	60.42B
Income Tax Expense	7.31B	12.72B	14.72B	17.14B	16.01B
Earnings From Continuing Operations	18.8B	30.94B	34.56B	39.5B	44.42B
Net Income to Company	18.8B	30.94B	34.56B	39.5B	44.42B
Minority Interest	-	-9M	-73M	26M	-74M
Net Income - (IS)	18.8B	30.93B	34.49B	39.53B	44.34B
Net Income to Common Incl Extra Items	18.8B	30.93B	34.49B	39.53B	44.34B
Net Income to Common Excl. Extra Items	18.8B	30.93B	34.49B	39.53B	44.34B
Per Share Items
Net EPS - Basic	61.59	101.3	115.01	131.82	148.19
Basic EPS - Continuing Operations	61.59	101.3	115.01	131.82	148.19
Basic Weighted Average Shares Outstanding	305M	305M	300M	300M	299M
Net EPS - Diluted	61.59	101.3	115.01	131.82	148.19
Diluted EPS - Continuing Operations	61.59	101.3	115.01	131.82	148.19
Diluted Weighted Average Shares Outstanding	305M	305M	300M	300M	299M
Normalized Basic EPS	56.59	90.82	103.24	118.31	124.59
Normalized Diluted EPS	56.59	90.82	103.23	118.31	124.59
Dividend Per Share	30	41	58	65	104
Payout Ratio	35.69	32.56	42.13	45.5	60.87
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	30.18B	46.54B	52.01B	59.1B	63.97B
EBITA	28.13B	44.48B	50.04B	57.05B	60.48B
EBIT	27.69B	44.11B	49.63B	56.59B	60.13B
Effective Tax Rate - (Ratio)	27.99	29.14	29.87	30.26	26.5
Normalized Net Income	17.28B	27.73B	30.96B	35.47B	37.28B
Non-Cash Pension Expense	130M	236M	486M	92M	128M
Supplemental Operating Expense Items
Advertising Expense	9.34B	8.1B	9.88B	12.31B	12.05B
Selling and Marketing Expenses	31.34B	35.68B	41.26B	44.74B	45.49B
Research And Development Expense From Footnotes	-	-	1.18B	843M	637M

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	33.6B	61.65B	65.52B	69.13B	64.75B
Short Term Investments	-	-	-	5B	5B
Total Cash And Short Term Investments	33.6B	61.65B	65.52B	74.13B	69.75B
Accounts Receivable, Total	31.55B	32.78B	30.61B	42.99B	45.79B
Total Receivables	31.55B	32.78B	30.61B	42.99B	45.79B
Inventory	1.77B	1.87B	2.09B	3.2B	3.82B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	3.51B	3.5B	4.09B	3.17B	3.78B
Total Current Assets	70.43B	99.8B	102B	123B	123B
Net Property Plant And Equipment	10.49B	12.02B	11.28B	18.8B	24.66B
Long-term Investments	3.33B	3.65B	4.02B	5.04B	5.5B
Goodwill	2.15B	2.19B	1.8B	1.7B	920M
Other Intangibles, Total	820M	725M	825M	681M	1.69B
Deferred Tax Assets Long-Term	6.97B	7.27B	7.04B	6.04B	5.95B
Other Long-Term Assets, Total	1M	1M	1M	2M	2M
Total Assets	94.19B	126B	127B	156B	162B
Liabilities
Accounts Payable, Total	60M	147M	373M	532M	259M
Accrued Expenses, Total	459M	1.7B	1.78B	2.48B	1.37B
Short-term Borrowings	22B	20B	20.2B	20.4B	20B
Current Portion of Long-Term Debt	-	-	-	-	-
Current Income Taxes Payable	9.11B	16.94B	15.47B	18.64B	16.2B
Other Current Liabilities	24.5B	26.39B	28.34B	30.16B	30.43B
Total Current Liabilities	56.13B	65.18B	66.17B	72.2B	68.26B
Pension & Other Post Retirement Benefits	2.01B	2.69B	3.63B	4.39B	4.84B
Deferred Tax Liability Non Current	10M	12M	-	-	-
Other Non Current Liabilities	1.51B	2.27B	2.38B	2.46B	4.02B
Total Liabilities	59.65B	70.15B	72.18B	79.05B	77.12B
Common Stock, Total	1.36B	1.36B	1.36B	1.36B	1.36B
Additional Paid In Capital	1.33B	1.33B	1.46B	1.35B	1.33B
Retained Earnings	56.34B	77.11B	97.07B	119B	93.51B
Treasury Stock	-24.41B	-24.15B	-44.78B	-44.56B	-11.63B
Comprehensive Income and Other	-81M	-213M	-145M	-195M	171M
Total Common Equity	34.53B	55.44B	54.95B	76.58B	84.74B
Minority Interest	-	70M	144M	117M	-
Total Equity	34.53B	55.51B	55.1B	76.69B	84.74B
Total Liabilities And Equity	94.19B	126B	127B	156B	162B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	305M	297M	300M	300M	297M
ECS Total Common Shares Outstanding	305M	305M	300M	300M	297M
Book Value / Share	113.12	181.54	183.3	255.37	285.38
Tangible Book Value	31.57B	52.52B	52.33B	74.19B	82.13B
Tangible Book Value Per Share	103.4	172	174.56	247.43	276.58
Total Debt	22B	20B	20.2B	20.4B	20B
Net Debt	-11.6B	-41.65B	-45.32B	-53.73B	-49.75B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.01B	2.69B	3.63B	4.39B	4.84B
Minority Interest, Total (Incl. Fin. Div)	-	70M	144M	117M	-
Inventories - Raw Materials, Total	106M	79M	27M	49M	39M
Inventories - Finished Goods, Total	1.66B	1.79B	2.06B	3.16B	3.78B
Full Time Employees	1.16K	1.3K	1.44K	1.56K	1.69K

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	26.11B	43.66B	49.29B	56.64B	60.43B
Depreciation & Amortization - CF	2.04B	2.05B	1.98B	2.05B	3.49B
Amortization of Goodwill and Intangible Assets - (CF)	444M	375M	404M	460M	352M
Depreciation & Amortization, Total	2.49B	2.43B	2.38B	2.51B	3.84B
(Gain) Loss From Sale Of Asset	13M	554M	148M	91M	64M
(Gain) Loss on Sale of Investments - (CF)	1.65B	-10M	-	23M	-726M
Other Operating Activities, Total	-7.72B	-6.98B	-16.58B	-14.23B	-17.09B
Change In Accounts Receivable	-4.14B	-1.22B	2.17B	-12.33B	-2.98B
Change In Inventories	4.08B	-38M	-215M	-1B	-1.2B
Change In Accounts Payable	1.33B	2.48B	0	987M	-1.71B
Change in Other Net Operating Assets	982M	3.91B	2.7B	3.98B	1.98B
Cash from Operations	24.79B	44.79B	39.9B	36.67B	42.59B
Capital Expenditure	-4.98B	-3.22B	-1.22B	-8.96B	-8B
Sale of Property, Plant, and Equipment	18M	1M	-	1M	5M
Cash Acquisitions	-76M	-661M	-29M	-13M	-478M
Divestitures	-	-	-	-	559M
Sale (Purchase) of Intangible assets	-194M	-128M	-110M	-313M	-1.37B
Investment in Marketable and Equity Securities, Total	-76M	-149M	-362M	-418M	93M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-3M	2M	3M	173M	-61M
Other Investing Activities, Total	-680M	-489M	437M	-1.06B	-634M
Cash from Investing	-5.99B	-4.65B	-1.28B	-10.59B	-9.88B
Short Term Debt Issued, Total	600M	17.5B	300M	300M	100M
Long-Term Debt Issued, Total	-	-	100M	167M	168M
Total Debt Issued	600M	17.5B	400M	467M	268M
Short Term Debt Repaid, Total	-600M	-19.53B	-100M	-100M	-300M
Long-Term Debt Repaid, Total	-	-2M	-13M	-113M	-61M
Total Debt Repaid	-600M	-19.53B	-113M	-213M	-361M
Issuance of Common Stock	-	-	11.44B	-	-17M
Repurchase of Common Stock	-	-	-32B	-	-10B
Common & Preferred Stock Dividends Paid	-6.71B	-10.07B	-14.53B	-17.99B	-26.99B
Common & Preferred Stock Dividends Paid	-6.71B	-10.07B	-14.53B	-17.99B	-26.99B
Other Financing Activities, Total	-60M	-12M	-24M	-6M	-37M
Cash from Financing	-6.77B	-12.12B	-34.82B	-17.74B	-37.14B
Foreign Exchange Rate Adjustments	-10M	20M	83M	126M	32M
Miscellaneous Cash Flow Adjustments	20M	-	-	152M	-
Net Change in Cash	12.04B	28.04B	3.87B	8.62B	-4.4B
Supplemental Items
Cash Interest Paid	95M	66M	74M	78M	78M
Cash Income Tax Paid (Refund)	7.73B	6.99B	16.58B	14.23B	17.09B
Levered Free Cash Flow	17.96B	36.33B	34.18B	21.81B	24.45B
Unlevered Free Cash Flow	18.02B	36.38B	34.22B	21.86B	24.5B
Change In Net Working Capital	-3.4B	-9.73B	-2.16B	6.75B	7.57B
Net Debt Issued / Repaid	0	-2.03B	287M	254M	-93M

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	19.99	25.08	24.53	24.99	23.67
Return on Total Capital	34.2	41.76	41.14	41.03	37.24
Return On Equity %	65.76	68.73	62.5	59.94	55.03
Return on Common Equity	65.76	68.76	62.49	60.1	54.97
Margin Analysis
Gross Profit Margin %	90.6	95	93.97	93.41	92.96
SG&A Margin	66.4	63.41	62.66	61.28	60.51
EBITDA Margin %	24.04	31.57	31.3	32.22	32.47
EBITA Margin %	22.41	30.18	30.11	31.1	30.7
EBIT Margin %	22.06	29.92	29.86	30.85	30.52
Income From Continuing Operations Margin %	14.98	20.99	20.8	21.53	22.54
Net Income Margin %	14.98	20.98	20.75	21.55	22.51
Net Avail. For Common Margin %	14.98	20.98	20.75	21.55	22.51
Normalized Net Income Margin	13.76	18.81	18.63	19.34	18.92
Levered Free Cash Flow Margin	14.31	24.65	20.56	11.89	12.41
Unlevered Free Cash Flow Margin	14.36	24.68	20.59	11.92	12.43
Asset Turnover
Asset Turnover	1.45	1.34	1.31	1.3	1.24
Fixed Assets Turnover	14.93	13.1	14.26	12.2	9.07
Receivables Turnover (Average Receivables)	4.26	4.58	5.24	4.98	4.44
Inventory Turnover (Average Inventory)	3.08	4.05	5.07	4.57	3.95
Short Term Liquidity
Current Ratio	1.25	1.53	1.55	1.71	1.8
Quick Ratio	1.16	1.45	1.45	1.62	1.69
Operating Cash Flow to Current Liabilities	0.44	0.69	0.6	0.51	0.62
Days Sales Outstanding (Average Receivables)	85.95	79.64	69.61	73.23	82.47
Days Outstanding Inventory (Average Inventory)	118.77	90.16	72.05	79.93	92.72
Average Days Payable Outstanding	41.77	5.06	9.27	12.51	9.99
Cash Conversion Cycle (Average Days)	162.95	164.75	132.39	140.65	165.2
Long Term Solvency
Total Debt/Equity	63.71	36.03	36.66	26.6	23.6
Total Debt / Total Capital	38.91	26.49	26.83	21.01	19.09
Total Liabilities / Total Assets	63.33	55.83	56.71	50.76	47.64
EBIT / Interest Expense	300.93	621.27	670.7	725.51	780.92
EBITDA / Interest Expense	327.99	655.44	702.88	757.69	830.83
(EBITDA - Capex) / Interest Expense	273.9	610.03	686.36	642.86	726.97
Total Debt / EBITDA	0.73	0.43	0.39	0.35	0.31
Net Debt / EBITDA	-0.38	-0.89	-0.87	-0.91	-0.78
Total Debt / (EBITDA - Capex)	0.87	0.46	0.4	0.41	0.36
Net Debt / (EBITDA - Capex)	-0.46	-0.96	-0.89	-1.07	-0.89
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	6.01	17.44	12.75	10.36	7.41
Gross Profit, 1 Yr. Growth %	8.35	23.14	11.53	9.71	6.89
EBITDA, 1 Yr. Growth %	9.07	54.22	11.77	13.63	8.25
EBITA, 1 Yr. Growth %	7.65	58.14	12.48	14.02	6.02
EBIT, 1 Yr. Growth %	7.92	59.32	12.52	14.02	6.26
Earnings From Cont. Operations, 1 Yr. Growth %