Earnings quality
Compare earnings and operating cash flow for earnings quality.
Olympus Corporation
Ticker 7733 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-18 · Period end 2026-03-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 9.6%; equity ratio is 52.8%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin9.6%
Equity ratio52.8%
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
オリンパス株式会社 is a Japanese listed company. Its reportable segments include Surgical Intervention, Surgical And Interventional Solutions, Gastrointestinal Solutions, Operating Segments Not Included In.
- Surgical Intervention
- Surgical And Interventional Solutions
- Gastrointestinal Solutions
- Operating Segments Not Included In
- Endoscopic
- Disclosure Of Changes In
Segments Surgical Intervention · Surgical And Interventional Solutions · Gastrointestinal Solutions · Operating Segments Not Included In · Endoscopic · Disclosure Of Changes In
Compare trends
Tel 042-642-2111 · As of filing date 2026-06-18
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | ¥997.3B | ¥1.0T |
| Cost of sales* | ¥313.6B | ¥356.6B |
| Gross profit | ¥683.7B | ¥654.1B |
| Operating profit (loss) | ¥162.5B | ¥97.1B |
| Finance income | ¥3.4B | ¥6.2B |
| Finance costs | ¥6.8B | ¥9.3B |
| Income tax expense | ¥41.3B | ¥25.8B |
| Profit (loss) | ¥117.9B | ¥68.2B |
| Profit (loss) attributable to owners | ¥117.9B | ¥68.2B |
| Basic EPS (¥) | 102.99 | 61.32 |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥252.5B | ¥188.0B |
| Current assets | ¥679.6B | ¥706.3B |
| Non-current assets | ¥753.7B | ¥830.9B |
| Total assets | ¥1.4T | ¥1.5T |
| Short-term borrowings | — | — |
| Current liabilities | ¥425.4B | ¥436.9B |
| Non-current liabilities* | ¥256.2B | ¥288.2B |
| Total liabilities | ¥681.5B | ¥725.1B |
| Equity attributable to owners | ¥751.7B | ¥812.0B |
| Total equity | ¥751.7B | ¥812.0B |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥190.5B | ¥100.6B |
| Cash flows from investing activities | -¥65.5B | -¥87.4B |
| Cash flows from financing activities | -¥211.5B | -¥87.6B |
| Net increase (decrease) in cash | -¥88.4B | -¥64.5B |
| Cash at end of period | ¥252.5B | ¥188.0B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥750.1B | ¥881.9B | ¥925.8B | ¥997.3B | ¥1.0T | |
| Operating profit | — | — | — | ¥162.5B | ¥97.1B | |
| Profit to owners | ¥115.7B | ¥143.4B | ¥242.6B | ¥117.9B | ¥68.2B | |
| Total assets | ¥1.4T | ¥1.5T | ¥1.5T | ¥1.4T | ¥1.5T | |
| Cash & equivalents | ¥302.6B | ¥205.5B | ¥340.9B | ¥252.5B | ¥188.0B | |
| Owners’ equity | ¥510.2B | ¥640.1B | ¥757.2B | ¥751.7B | ¥812.0B |
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 ¥997.3B to ¥1.0T (▲ +1.3%), so the top line did not break. Gross profit only slipped from ¥683.7B to ¥654.1B, while operating profit swung from ¥162.5B to ¥97.1B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥100.6B (prior ¥190.5B), and cash on the balance sheet rose to ¥188.0B from ¥252.5B. 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 ¥725.1B while owners’ equity fell to ¥812.0B. ROE moved from 15.6% to 8.7%, and the equity ratio from 52.4% to 52.8%. Employee count is 28,138 vs 29,297 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 S100YDN3
(オリンパス株式会社), period end 2026-03-31.