Earnings quality
Compare earnings and operating cash flow for earnings quality.
Disco Corporation
Ticker 6146 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-16 · Period end 2026-03-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 42.3%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin42.3%
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
株式会社ディスコ is a Japanese listed company with financial statements filed on EDINET. A detailed English business summary was not auto-extracted from this filing.
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | ¥393.3B | ¥436.9B |
| Cost of sales* | ¥115.7B | ¥130.4B |
| Gross profit | ¥277.6B | ¥306.5B |
| Operating profit (loss) | ¥166.8B | ¥185.0B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥44.1B | ¥48.2B |
| Profit (loss) | ¥124.1B | ¥135.6B |
| Profit (loss) attributable to owners | ¥123.9B | ¥135.5B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥229.2B | ¥184.6B |
| Current assets | ¥424.5B | ¥494.6B |
| Non-current assets | ¥229.6B | ¥248.8B |
| Total assets | ¥654.1B | ¥743.4B |
| Short-term borrowings | — | — |
| Current liabilities | ¥160.4B | ¥154.5B |
| Non-current liabilities* | ¥991.0M | ¥827.0M |
| Total liabilities | ¥161.4B | ¥155.3B |
| Equity attributable to owners | — | — |
| Total equity | — | — |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥120.4B | ¥133.5B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | -¥38.1B | -¥45.0B |
| Net increase (decrease) in cash | ¥13.7B | -¥44.6B |
| Cash at end of period | ¥229.2B | ¥184.6B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥253.8B | ¥284.1B | ¥307.6B | ¥393.3B | ¥436.9B | |
| Operating profit | ¥92.4B | ¥112.3B | ¥122.4B | ¥168.9B | ¥184.9B | |
| Profit to owners | — | — | — | ¥123.9B | ¥135.5B | |
| Total assets | ¥404.5B | ¥468.8B | ¥556.1B | ¥654.1B | ¥743.4B | |
| Cash & equivalents | — | — | ¥215.5B | ¥229.2B | ¥184.6B | |
| Owners’ equity | ¥293.8B | ¥348.0B | ¥406.6B | ¥492.7B | ¥588.1B |
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 ¥393.3B to ¥436.9B (▲ +11.1%), so the top line did not break. Gross profit only slipped from ¥277.6B to ¥306.5B, while operating profit swung from ¥166.8B to ¥185.0B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥133.5B (prior ¥120.4B), and cash on the balance sheet rose to ¥184.6B from ¥229.2B. 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 ¥155.3B while owners’ equity fell to —. ROE moved from 27.6% to 25.1%, and the equity ratio from 75.1% to 78.9%. Employee count is 5,547 vs 5,256 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 S100YC6I
(株式会社ディスコ), period end 2026-03-31.