Earnings quality
Compare earnings and operating cash flow for earnings quality.
Subaru Corporation
Ticker 7270 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-22 · Period end 2026-03-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
equity ratio is 50.6%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin—
Equity ratio50.6%
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ＳＵＢＡＲＵ is a Japanese listed company. Its reportable segments include Aerospace, Automobiles, Operating Segments Not Included In.
- Aerospace
- Automobiles
- Operating Segments Not Included In
Segments Aerospace · Automobiles · Operating Segments Not Included In
Compare trends
Tel 03-6447-8825 · As of filing date 2026-06-22
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | — | — |
| Cost of sales* | — | — |
| Gross profit | ¥980.3B | ¥719.5B |
| Operating profit (loss) | ¥405.3B | ¥40.1B |
| Finance income | ¥90.0B | ¥81.4B |
| Finance costs | ¥46.8B | ¥14.0B |
| Income tax expense | ¥110.4B | ¥16.6B |
| Profit (loss) | ¥338.2B | ¥90.9B |
| Profit (loss) attributable to owners | ¥338.1B | ¥90.8B |
| Basic EPS (¥) | 458.03 | 125.50 |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥941.5B | ¥1.0T |
| Current assets | ¥3.2T | ¥3.4T |
| Non-current assets | ¥1.9T | ¥2.1T |
| Total assets | ¥5.1T | ¥5.5T |
| Short-term borrowings | — | — |
| Current liabilities | ¥1.3T | ¥1.5T |
| Non-current liabilities* | ¥1.1T | ¥1.2T |
| Total liabilities | ¥2.4T | ¥2.7T |
| Equity attributable to owners | ¥2.7T | ¥2.8T |
| Total equity | ¥2.7T | ¥2.8T |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥492.1B | ¥358.2B |
| Cash flows from investing activities | -¥404.1B | -¥114.7B |
| Cash flows from financing activities | -¥187.3B | -¥217.8B |
| Net increase (decrease) in cash | -¥106.5B | ¥63.9B |
| Cash at end of period | ¥941.5B | ¥1.0T |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥2.7T | ¥3.8T | ¥4.7T | ¥4.7T | ¥4.8T | |
| Operating profit | — | — | — | ¥405.3B | ¥40.1B | |
| Profit to owners | ¥70.0B | ¥200.4B | ¥385.1B | ¥338.1B | ¥90.8B | |
| Total assets | ¥3.5T | ¥3.9T | ¥4.8T | ¥5.1T | ¥5.5T | |
| Cash & equivalents | ¥883.1B | ¥979.5B | ¥1.0T | ¥941.5B | ¥1.0T | |
| Owners’ equity | ¥1.9T | ¥2.1T | ¥2.6T | ¥2.7T | ¥2.8T |
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 ¥980.3B to ¥719.5B, while operating profit swung from ¥405.3B to ¥40.1B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥358.2B (prior ¥492.1B), and cash on the balance sheet rose to ¥1.0T from ¥941.5B. 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 ¥2.7T while owners’ equity fell to ¥2.8T. ROE moved from 12.8% to 3.3%, and the equity ratio from 53.3% to 50.6%. Employee count is 37,542 vs 37,866 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Owners’ equity ratio fell from 53.3% to 50.6%; the balance sheet absorbed a heavy loss year.
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Source: EDINET S100YFKZ
(株式会社ＳＵＢＡＲＵ), period end 2026-03-31.