Earnings quality
Compare earnings and operating cash flow for earnings quality.
Ebara Corporation
Ticker 6361 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-03-23 · Period end 2025-12-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
equity ratio is 47.0%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin—
Equity ratio47.0%
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
株式会社荏原製作所 is a Japanese listed company. Its reportable segments include Building Service And Industrial, Energy, Environmental, Precision Machinery.
- Building Service And Industrial
- Energy
- Environmental
- Precision Machinery
- Water And Infrastracture
- Operating Segments Not Included In
- Other
- Total Of
Segments Building Service And Industrial · Energy · Environmental · Precision Machinery · Water And Infrastracture · Operating Segments Not Included In
Compare trends
No phone/email found in this filing · Filing date 2026-03-23
Financial statements
Income statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Revenue | — | — |
| Cost of sales* | — | — |
| Gross profit | ¥287.0B | ¥311.9B |
| Operating profit (loss) | ¥98.0B | ¥113.8B |
| Finance income | ¥3.9B | ¥2.9B |
| Finance costs | ¥4.2B | ¥6.8B |
| Income tax expense | ¥25.4B | ¥31.4B |
| Profit (loss) | ¥74.5B | ¥79.6B |
| Profit (loss) attributable to owners | ¥71.4B | ¥76.6B |
| Basic EPS (¥) | 154.62 | 166.31 |
Balance sheet
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash and cash equivalents | ¥171.0B | ¥143.5B |
| Current assets | ¥705.3B | ¥717.4B |
| Non-current assets | ¥299.8B | ¥364.8B |
| Total assets | ¥1.0T | ¥1.1T |
| Short-term borrowings | — | — |
| Current liabilities | ¥405.3B | ¥448.3B |
| Non-current liabilities* | ¥114.4B | ¥112.2B |
| Total liabilities | ¥519.7B | ¥560.5B |
| Equity attributable to owners | ¥473.3B | ¥508.9B |
| Total equity | ¥485.3B | ¥521.7B |
Cash flow statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash flows from operating activities | ¥100.9B | ¥40.8B |
| Cash flows from investing activities | -¥48.6B | -¥91.2B |
| Cash flows from financing activities | -¥31.9B | ¥16.8B |
| Net increase (decrease) in cash | ¥23.0B | -¥27.5B |
| Cash at end of period | ¥171.0B | ¥143.5B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | ¥603.2B | ¥680.9B | ¥759.3B | ¥866.7B | ¥958.3B | |
| Operating profit | ¥58.3B | — | — | ¥98.0B | ¥113.8B | |
| Profit to owners | ¥43.6B | ¥50.5B | ¥60.3B | ¥71.4B | ¥76.6B | |
| Total assets | ¥719.7B | ¥828.0B | ¥913.9B | ¥1.0T | ¥1.1T | |
| Cash & equivalents | ¥136.5B | ¥116.1B | ¥148.1B | ¥171.0B | ¥143.5B | |
| Owners’ equity | ¥312.3B | ¥360.0B | ¥409.9B | ¥473.3B | ¥508.9B |
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 ¥287.0B to ¥311.9B, while operating profit swung from ¥98.0B to ¥113.8B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥40.8B (prior ¥100.9B), and cash on the balance sheet rose to ¥143.5B from ¥171.0B. 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 ¥560.5B while owners’ equity fell to ¥508.9B. ROE moved from 16.2% to 15.6%, and the equity ratio from 47.1% to 47.0%.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Owners’ equity ratio fell from 47.1% to 47.0%; the balance sheet absorbed a heavy loss year.
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Source: EDINET S100XS6E
(株式会社荏原製作所), period end 2025-12-31.