Earnings quality
Compare earnings and operating cash flow for earnings quality.
Seven & i Holdings Co., Ltd.
Ticker 3382 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-05-20 · Period end 2026-02-28
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
operating margin is 4.8%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin4.8%
Equity ratio—
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
株式会社セブン＆アイ・ホールディングス is a Japanese listed company. Its reportable segments include Other, Superstore Operations, Total Of, Operating Segments Not Included In.
- Other
- Superstore Operations
- Total Of
- Operating Segments Not Included In
- Financial Services
- Overseas CVSOperations
- Domestic CVSOperations
- Description Of
Segments Other · Superstore Operations · Total Of · Operating Segments Not Included In · Financial Services · Overseas CVSOperations
Financial statements
Income statement
| Account | FY2025 (ended Feb 28, 2025) | FY2026 (ended Feb 28, 2026) |
|---|---|---|
| Revenue | ¥10.3T | ¥8.9T |
| Cost of sales* | ¥8.5T | ¥7.3T |
| Gross profit | ¥1.9T | ¥1.6T |
| Operating profit (loss) | ¥421.0B | ¥423.0B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥86.3B | ¥135.5B |
| Profit (loss) | ¥183.0B | ¥299.1B |
| Profit (loss) attributable to owners | ¥173.1B | ¥292.8B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Feb 28, 2025) | FY2026 (ended Feb 28, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥1.3T | ¥426.1B |
| Current assets | ¥2.8T | ¥1.5T |
| Non-current assets | ¥8.6T | ¥7.7T |
| Total assets | ¥11.4T | ¥9.1T |
| Short-term borrowings | ¥172.5B | ¥135.6B |
| Current liabilities | ¥3.3T | ¥1.9T |
| Non-current liabilities* | ¥3.8T | ¥3.6T |
| Total liabilities | ¥7.2T | ¥5.5T |
| Equity attributable to owners | — | — |
| Total equity | — | — |
Cash flow statement
| Account | FY2025 (ended Feb 28, 2025) | FY2026 (ended Feb 28, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥876.5B | ¥666.7B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | -¥392.6B | -¥1.1T |
| Net increase (decrease) in cash | -¥212.7B | -¥923.7B |
| Cash at end of period | ¥1.3T | ¥426.1B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | ¥10.3T | ¥8.9T | |
| Operating profit | ¥358.6B | ¥475.9B | ¥507.1B | ¥374.6B | ¥377.4B | |
| Profit to owners | — | — | — | ¥173.1B | ¥292.8B | |
| Total assets | ¥8.7T | ¥10.6T | ¥10.6T | ¥11.4T | ¥9.1T | |
| Cash & equivalents | — | — | ¥1.6T | ¥1.3T | ¥426.1B | |
| Owners’ equity | ¥3.1T | ¥3.6T | ¥3.9T | ¥4.2T | ¥3.6T |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from ¥10.3T to ¥8.9T (▼ -14.0%), so the top line did not break. Gross profit only slipped from ¥1.9T to ¥1.6T, while operating profit swung from ¥421.0B to ¥423.0B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥666.7B (prior ¥876.5B), and cash on the balance sheet rose to ¥426.1B from ¥1.3T. When profits collapse but operating cash stays positive, read the notes for impairments and other non-cash charges before assuming the business stopped generating cash.
Goodwill on the balance sheet fell from ¥2.3T to ¥2.1T, consistent with heavy write-downs of past acquisitions’ carrying values.
The balance sheet got heavier on leverage. Total liabilities rose to ¥5.5T while owners’ equity fell to —. ROE moved from 4.5% to 7.6%, and the equity ratio from 35.4% to 39.6%. Employee count is 35,967 vs 62,012 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Capital structure held relatively steady.
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Source: EDINET S100Y4VB
(株式会社セブン＆アイ・ホールディングス), period end 2026-02-28.