Earnings quality
Compare earnings and operating cash flow for earnings quality.
BayCurrent, Inc.
Ticker 6532 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-05-26 · Period end 2026-02-28
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
equity ratio is 74.3%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin—
Equity ratio74.3%
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
株式会社ベイカレント 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
No phone/email found in this filing · Filing date 2026-05-26
Financial statements
Income statement
| Account | FY2025 (ended Feb 28, 2025) | FY2026 (ended Feb 28, 2026) |
|---|---|---|
| Revenue | — | — |
| Cost of sales* | — | — |
| Gross profit | ¥62.5B | ¥84.0B |
| Operating profit (loss) | ¥42.6B | ¥50.9B |
| Finance income | — | ¥120.0M |
| Finance costs | ¥69.0M | ¥63.0M |
| Income tax expense | ¥11.8B | ¥13.1B |
| Profit (loss) | ¥30.8B | ¥37.8B |
| Profit (loss) attributable to owners | ¥30.8B | ¥37.8B |
| Basic EPS (¥) | 202.16 | 249.16 |
Balance sheet
| Account | FY2025 (ended Feb 28, 2025) | FY2026 (ended Feb 28, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥60.6B | ¥72.3B |
| Current assets | ¥88.6B | ¥114.3B |
| Non-current assets | ¥36.1B | ¥43.2B |
| Total assets | ¥124.7B | ¥157.5B |
| Short-term borrowings | ¥1.1B | ¥262.0M |
| Current liabilities | ¥24.2B | ¥35.5B |
| Non-current liabilities* | ¥6.1B | ¥5.0B |
| Total liabilities | ¥30.3B | ¥40.4B |
| Equity attributable to owners | ¥94.4B | ¥117.0B |
| Total equity | ¥94.4B | ¥117.0B |
Cash flow statement
| Account | FY2025 (ended Feb 28, 2025) | FY2026 (ended Feb 28, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥32.6B | ¥37.6B |
| Cash flows from investing activities | -¥3.5B | -¥6.5B |
| Cash flows from financing activities | -¥14.3B | -¥19.4B |
| Net increase (decrease) in cash | ¥14.8B | ¥11.8B |
| Cash at end of period | ¥60.6B | ¥72.3B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥57.6B | ¥76.1B | ¥93.9B | ¥116.1B | ¥148.3B | |
| Operating profit | — | — | — | ¥42.6B | ¥50.9B | |
| Profit to owners | ¥15.5B | ¥21.9B | ¥25.4B | ¥30.8B | ¥37.8B | |
| Total assets | ¥58.1B | ¥75.3B | ¥99.9B | ¥124.7B | ¥157.5B | |
| Cash & equivalents | ¥26.1B | ¥36.6B | ¥45.8B | ¥60.6B | ¥72.3B | |
| Owners’ equity | ¥41.7B | ¥57.3B | ¥74.1B | ¥94.4B | ¥117.0B |
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 ¥62.5B to ¥84.0B, while operating profit swung from ¥42.6B to ¥50.9B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥37.6B (prior ¥32.6B), and cash on the balance sheet rose to ¥72.3B from ¥60.6B. 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 ¥40.4B while owners’ equity fell to ¥117.0B. ROE moved from 36.5% to 35.8%, and the equity ratio from 75.7% to 74.3%. Employee count is 6,788 vs 5,467 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Owners’ equity ratio fell from 75.7% to 74.3%; the balance sheet absorbed a heavy loss year.
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Source: EDINET S100Y69G
(株式会社ベイカレント), period end 2026-02-28.