Earnings quality
Compare earnings and operating cash flow for earnings quality.
Takeda Pharmaceutical Company Limited
Ticker 4502 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-17 · Period end 2026-03-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
equity ratio is 47.9%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin—
Equity ratio47.9%
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
武田薬品工業株式会社 is a Japanese listed company. Its reportable segments include Pharmaceutical Business.
- Pharmaceutical Business
Segments Pharmaceutical Business
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | — | — |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit (loss) | ¥342.6B | ¥6.2B |
| Finance income | ¥46.5B | ¥211.2B |
| Finance costs | ¥210.1B | ¥357.6B |
| Income tax expense | ¥66.9B | ¥9.8B |
| Profit (loss) | ¥108.1B | -¥152.1B |
| Profit (loss) attributable to owners | ¥107.9B | -¥152.4B |
| Basic EPS (¥) | 68.36 | -96.75 |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥385.1B | ¥595.1B |
| Current assets | ¥2.5T | ¥3.1T |
| Non-current assets | ¥11.7T | ¥12.4T |
| Total assets | ¥14.2T | ¥15.5T |
| Short-term borrowings | — | — |
| Current liabilities | ¥2.5T | ¥2.8T |
| Non-current liabilities* | ¥4.8T | ¥5.2T |
| Total liabilities | ¥7.3T | ¥8.1T |
| Equity attributable to owners | ¥6.9T | ¥7.4T |
| Total equity | ¥6.9T | ¥7.4T |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥1.1T | ¥1.0T |
| Cash flows from investing activities | -¥367.1B | -¥369.1B |
| Cash flows from financing activities | -¥751.4B | -¥496.8B |
| Net increase (decrease) in cash | — | — |
| Cash at end of period | ¥385.1B | ¥595.1B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥3.6T | ¥4.0T | ¥4.3T | ¥4.6T | ¥4.5T | |
| Operating profit | — | — | — | ¥342.6B | ¥6.2B | |
| Profit to owners | ¥230.1B | ¥317.0B | ¥144.1B | ¥107.9B | -¥152.4B | |
| Total assets | ¥13.2T | ¥14.0T | ¥15.1T | ¥14.2T | ¥15.5T | |
| Cash & equivalents | ¥849.7B | ¥533.5B | ¥457.8B | ¥385.1B | ¥595.1B | |
| Owners’ equity | — | — | — | ¥6.9T | ¥7.4T |
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 — to — (—), so the top line did not break. Gross profit only slipped from — to —, while operating profit swung from ¥342.6B to ¥6.2B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥1.0T (prior ¥1.1T), and cash on the balance sheet rose to ¥595.1B from ¥385.1B. 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 ¥8.1T while owners’ equity fell to ¥7.4T. ROE moved from 1.5% to -2.1%, and the equity ratio from 48.7% to 47.9%. Employee count is 47,029 vs 47,455 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Owners’ equity ratio fell from 48.7% to 47.9%; the balance sheet absorbed a heavy loss year.
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Source: EDINET S100YB5L
(武田薬品工業株式会社), period end 2026-03-31.