Earnings quality
Compare earnings and operating cash flow for earnings quality.
freee K.K.
Ticker 4478 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-09-28 · Period end 2026-06-30
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 2.6%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin2.6%
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
フリー株式会社 is a Japanese listed company with financial statements filed on EDINET. A detailed English business summary was not auto-extracted from this filing.
Compare trends
Tel 03-6683-0242 · As of filing date 2026-09-28
Financial statements
Income statement
| Account | FY2025 (ended Jun 30, 2025) | FY2026 (ended Jun 30, 2026) |
|---|---|---|
| Revenue | ¥33.3B | ¥42.4B |
| Cost of sales* | ¥5.9B | ¥8.0B |
| Gross profit | ¥27.4B | ¥34.4B |
| Operating profit (loss) | ¥611.0M | ¥1.1B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | -¥953.8M | -¥309.5M |
| Profit (loss) | ¥1.4B | ¥1.1B |
| Profit (loss) attributable to owners | ¥1.4B | ¥1.1B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Jun 30, 2025) | FY2026 (ended Jun 30, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥35.8B | ¥36.2B |
| Current assets | ¥45.9B | ¥50.4B |
| Non-current assets | ¥6.7B | ¥11.6B |
| Total assets | ¥52.6B | ¥61.9B |
| Short-term borrowings | ¥9.6B | ¥14.3B |
| Current liabilities | ¥31.3B | ¥38.6B |
| Non-current liabilities* | ¥1.6B | ¥2.1B |
| Total liabilities | ¥32.9B | ¥40.7B |
| Equity attributable to owners | — | — |
| Total equity | — | — |
Cash flow statement
| Account | FY2025 (ended Jun 30, 2025) | FY2026 (ended Jun 30, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥3.7B | ¥1.5B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | ¥5.0B | ¥4.8B |
| Net increase (decrease) in cash | ¥4.0B | ¥389.8M |
| Cash at end of period | ¥35.8B | ¥36.2B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥14.4B | ¥19.2B | ¥25.4B | ¥33.3B | ¥42.4B | |
| Operating profit | -¥3.1B | -¥8.0B | -¥8.6B | ¥412.7M | ¥746.9M | |
| Profit to owners | — | — | — | ¥1.4B | ¥1.1B | |
| Total assets | ¥47.4B | ¥42.8B | ¥40.0B | ¥52.6B | ¥61.9B | |
| Cash & equivalents | — | — | ¥31.8B | ¥35.8B | ¥36.2B | |
| Owners’ equity | ¥36.4B | ¥27.1B | ¥17.0B | ¥19.7B | ¥21.2B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from ¥33.3B to ¥42.4B (▲ +27.6%), so the top line did not break. Gross profit only slipped from ¥27.4B to ¥34.4B, while operating profit swung from ¥611.0M to ¥1.1B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥1.5B (prior ¥3.7B), and cash on the balance sheet rose to ¥36.2B from ¥35.8B. 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.
The balance sheet got heavier on leverage. Total liabilities rose to ¥40.7B while owners’ equity fell to —. ROE moved from 7.6% to 5.3%, and the equity ratio from 37.1% to 34.1%. Employee count is 2,327 vs 1,901 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Owners’ equity ratio fell from 37.1% to 34.1%; the balance sheet absorbed a heavy loss year.
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Source: EDINET S100Z4LO
(フリー株式会社), period end 2026-06-30.