Earnings quality
Compare earnings and operating cash flow for earnings quality.
Kubota Corporation
Ticker 6326 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-03-16 · Period end 2025-12-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 8.8%; equity ratio is 42.3%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin8.8%
Equity ratio42.3%
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 クボタ is a Japanese listed company. Its reportable segments include Machinery, Water And Environment, Other, Operating Segments Not Included In.
- Machinery
- Water And Environment
- Other
- Operating Segments Not Included In
Segments Machinery · Water And Environment · Other · Operating Segments Not Included In
Compare trends
No phone/email found in this filing · Filing date 2026-03-16
Financial statements
Income statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Revenue | ¥3.0T | ¥3.0T |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit (loss) | ¥315.6B | ¥265.5B |
| Finance income | ¥26.3B | ¥29.0B |
| Finance costs | ¥6.6B | ¥12.3B |
| Income tax expense | ¥80.7B | ¥68.1B |
| Profit (loss) | ¥259.7B | ¥216.8B |
| Profit (loss) attributable to owners | ¥230.4B | ¥186.7B |
| Basic EPS (¥) | 197.61 | 163.44 |
Balance sheet
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash and cash equivalents | ¥295.1B | ¥277.0B |
| Current assets | ¥2.9T | ¥2.9T |
| Non-current assets | ¥3.2T | ¥3.3T |
| Total assets | ¥6.0T | ¥6.2T |
| Short-term borrowings | — | — |
| Current liabilities | ¥1.8T | ¥1.8T |
| Non-current liabilities* | ¥1.5T | ¥1.6T |
| Total liabilities | ¥3.3T | ¥3.3T |
| Equity attributable to owners | ¥2.5T | ¥2.6T |
| Total equity | ¥2.7T | ¥2.9T |
Cash flow statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash flows from operating activities | ¥282.1B | ¥327.9B |
| Cash flows from investing activities | -¥208.9B | -¥163.7B |
| Cash flows from financing activities | -¥26.3B | -¥184.5B |
| Net increase (decrease) in cash | ¥73.0B | -¥18.2B |
| Cash at end of period | ¥295.1B | ¥277.0B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | ¥2.2T | ¥2.7T | ¥3.0T | ¥3.0T | ¥3.0T | |
| Operating profit | — | — | — | ¥315.6B | ¥265.5B | |
| Profit to owners | ¥174.8B | ¥156.5B | ¥238.5B | ¥230.4B | ¥186.7B | |
| Total assets | ¥3.8T | ¥4.8T | ¥5.4T | ¥6.0T | ¥6.2T | |
| Cash & equivalents | ¥258.6B | ¥225.8B | ¥222.1B | ¥295.1B | ¥277.0B | |
| Owners’ equity | ¥1.7T | ¥1.9T | ¥2.2T | ¥2.5T | ¥2.6T |
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 ¥3.0T to ¥3.0T (▲ +0.1%), so the top line did not break. Gross profit only slipped from — to —, while operating profit swung from ¥315.6B to ¥265.5B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥327.9B (prior ¥282.1B), and cash on the balance sheet rose to ¥277.0B from ¥295.1B. 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.
Goodwill on the balance sheet fell from ¥143.3B to ¥139.9B, consistent with heavy write-downs of past acquisitions’ carrying values.
The balance sheet got heavier on leverage. Total liabilities rose to ¥3.3T while owners’ equity fell to ¥2.6T. ROE moved from 9.9% to 7.3%, and the equity ratio from 41.2% to 42.3%.
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 S100XR0M
(株式会社 クボタ), period end 2025-12-31.