Earnings quality
Compare earnings and operating cash flow for earnings quality.
SoftBank Corp.
Ticker 9434 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-19 · Period end 2026-03-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 14.8%; equity ratio is 16.0%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin14.8%
Equity ratio16.0%
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
ソフトバンク株式会社 is a Japanese listed company. Its reportable segments include Consumer, Distribution, Enterprise, Financial.
- Consumer
- Distribution
- Enterprise
- Financial
- Media EC
- Operating Segments Not Included In
Segments Consumer · Distribution · Enterprise · Financial · Media EC · Operating Segments Not Included In
Compare trends
Tel 03-6889-2000 · As of filing date 2026-06-19
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | ¥6.5T | ¥7.0T |
| Cost of sales* | ¥3.4T | ¥3.7T |
| Gross profit | ¥3.2T | ¥3.4T |
| Operating profit (loss) | ¥989.0B | ¥1.0T |
| Finance income | ¥11.7B | ¥14.5B |
| Finance costs | ¥117.4B | ¥109.6B |
| Income tax expense | ¥224.8B | ¥203.4B |
| Profit (loss) | ¥655.3B | ¥726.6B |
| Profit (loss) attributable to owners | ¥526.1B | ¥550.8B |
| Basic EPS (¥) | 10.99 | 11.35 |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥1.4T | ¥1.4T |
| Current assets | ¥4.9T | ¥5.4T |
| Non-current assets | ¥11.2T | ¥13.1T |
| Total assets | ¥16.1T | ¥18.5T |
| Short-term borrowings | — | — |
| Current liabilities | ¥6.8T | ¥8.5T |
| Non-current liabilities* | ¥5.0T | ¥5.3T |
| Total liabilities | ¥11.8T | ¥13.8T |
| Equity attributable to owners | ¥2.7T | ¥3.0T |
| Total equity | ¥4.3T | ¥4.7T |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥1.4T | ¥1.4T |
| Cash flows from investing activities | -¥995.2B | -¥1.3T |
| Cash flows from financing activities | -¥956.4B | -¥136.9B |
| Net increase (decrease) in cash | -¥557.3B | ¥3.3B |
| Cash at end of period | ¥1.4T | ¥1.4T |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | ¥6.5T | ¥7.0T | |
| Operating profit | ¥965.6B | ¥1.1T | ¥876.1B | ¥989.0B | ¥1.0T | |
| Profit to owners | ¥517.1B | ¥531.4B | ¥489.1B | ¥526.1B | ¥550.8B | |
| Total assets | ¥13.1T | ¥14.7T | ¥15.5T | ¥16.1T | ¥18.5T | |
| Cash & equivalents | ¥1.5T | ¥2.1T | ¥2.0T | ¥1.4T | ¥1.4T | |
| Owners’ equity | ¥2.0T | ¥2.2T | ¥2.4T | ¥2.7T | ¥3.0T |
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 ¥6.5T to ¥7.0T (▲ +7.6%), so the top line did not break. Gross profit only slipped from ¥3.2T to ¥3.4T, while operating profit swung from ¥989.0B to ¥1.0T — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥1.4T (prior ¥1.4T), and cash on the balance sheet rose to ¥1.4T from ¥1.4T. 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 ¥13.8T while owners’ equity fell to ¥3.0T. ROE moved from 20.5% to 19.3%, and the equity ratio from 17.0% to 16.0%. Employee count is 58,432 vs 55,070 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Owners’ equity ratio fell from 17.0% to 16.0%; the balance sheet absorbed a heavy loss year.
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Source: EDINET S100YE76
(ソフトバンク株式会社), period end 2026-03-31.