Earnings quality
Compare earnings and operating cash flow for earnings quality.
Keyence Corporation
Ticker 6861 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-15 · Period end 2026-03-20
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 51.0%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin51.0%
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
株式会社キーエンス 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 20, 2025) | FY2026 (ended Mar 20, 2026) |
|---|---|---|
| Revenue | ¥1.1T | ¥1.2T |
| Cost of sales* | ¥171.4B | ¥198.6B |
| Gross profit | ¥887.7B | ¥970.7B |
| Operating profit (loss) | ¥549.8B | ¥595.8B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥162.4B | ¥190.6B |
| Profit (loss) | ¥398.7B | ¥445.2B |
| Profit (loss) attributable to owners | ¥398.7B | ¥445.2B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 20, 2025) | FY2026 (ended Mar 20, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥451.7B | ¥451.3B |
| Current assets | ¥1.6T | ¥2.0T |
| Non-current assets | ¥1.7T | ¥1.7T |
| Total assets | ¥3.3T | ¥3.7T |
| Short-term borrowings | — | — |
| Current liabilities | ¥168.0B | ¥187.8B |
| Non-current liabilities* | ¥12.6B | ¥11.4B |
| Total liabilities | ¥180.7B | ¥199.2B |
| Equity attributable to owners | — | — |
| Total equity | — | — |
Cash flow statement
| Account | FY2025 (ended Mar 20, 2025) | FY2026 (ended Mar 20, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥409.5B | ¥430.7B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | -¥83.4B | -¥113.7B |
| Net increase (decrease) in cash | ¥45.6B | -¥445.0M |
| Cash at end of period | ¥451.7B | ¥451.3B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥755.2B | ¥922.4B | ¥967.3B | ¥1.1T | ¥1.2T | |
| Operating profit | ¥431.2B | ¥512.8B | ¥519.3B | ¥561.0B | ¥635.8B | |
| Profit to owners | — | — | — | ¥398.7B | ¥445.2B | |
| Total assets | ¥2.3T | ¥2.7T | ¥3.0T | ¥3.3T | ¥3.7T | |
| Cash & equivalents | — | — | ¥406.1B | ¥451.7B | ¥451.3B | |
| Owners’ equity | ¥2.2T | ¥2.5T | ¥2.8T | ¥3.1T | ¥3.5T |
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 ¥1.1T to ¥1.2T (▲ +10.4%), so the top line did not break. Gross profit only slipped from ¥887.7B to ¥970.7B, while operating profit swung from ¥549.8B to ¥595.8B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥430.7B (prior ¥409.5B), and cash on the balance sheet rose to ¥451.3B from ¥451.7B. 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 ¥199.2B while owners’ equity fell to —. ROE moved from 13.5% to 13.5%, and the equity ratio from 94.5% to 94.6%. Employee count is 12,784 vs 12,261 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 S100YAHE
(株式会社キーエンス), period end 2026-03-20.