Earnings quality
Compare earnings and operating cash flow for earnings quality.
The Kansai Electric Power Co., Inc.
Ticker 9503 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-24 · Period end 2026-03-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
operating margin is 10.8%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin10.8%
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
関西電力株式会社 is a Japanese listed company. Its reportable segments include Energy, ITCommunications, Life Business Solutions, Transmission And Distribution.
- Energy
- ITCommunications
- Life Business Solutions
- Transmission And Distribution
- Total Of
- Description Of
- Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
Segments Energy · ITCommunications · Life Business Solutions · Transmission And Distribution · Total Of · Description Of
Compare trends
No phone/email found in this filing · Filing date 2026-06-24
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | ¥4.3T | ¥4.1T |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit (loss) | ¥468.9B | ¥437.6B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥143.4B | ¥136.7B |
| Profit (loss) | ¥451.1B | ¥383.6B |
| Profit (loss) attributable to owners | ¥420.4B | ¥380.1B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥941.4B | ¥741.3B |
| Current assets | ¥2.0T | ¥1.8T |
| Non-current assets | ¥7.7T | ¥8.1T |
| Total assets | ¥9.7T | ¥9.9T |
| Short-term borrowings | ¥159.8B | ¥155.0B |
| Current liabilities | ¥1.7T | ¥1.8T |
| Non-current liabilities* | ¥4.9T | ¥4.6T |
| Total liabilities | ¥6.5T | ¥6.4T |
| Equity attributable to owners | — | — |
| Total equity | — | — |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥575.3B | ¥652.4B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | ¥137.7B | -¥290.2B |
| Net increase (decrease) in cash | ¥377.0B | -¥200.1B |
| Cash at end of period | ¥941.4B | ¥741.3B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥2.9T | ¥4.0T | ¥4.1T | ¥4.3T | ¥4.1T | |
| Operating profit | ¥136.0B | -¥6.7B | ¥766.0B | ¥531.7B | ¥518.5B | |
| Profit to owners | — | — | — | ¥420.4B | ¥380.1B | |
| Total assets | ¥8.7T | ¥8.8T | ¥9.0T | ¥9.7T | ¥9.9T | |
| Cash & equivalents | — | — | ¥564.4B | ¥941.4B | ¥741.3B | |
| Owners’ equity | ¥1.7T | ¥1.8T | ¥2.3T | ¥3.1T | ¥3.5T |
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 ¥4.3T to ¥4.1T (▼ -6.5%), so the top line did not break. Gross profit only slipped from — to —, while operating profit swung from ¥468.9B to ¥437.6B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥652.4B (prior ¥575.3B), and cash on the balance sheet rose to ¥741.3B from ¥941.4B. 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 ¥6.4T while owners’ equity fell to —. ROE moved from 15.7% to 11.7%, and the equity ratio from 31.8% to 35.1%. Employee count is 32,482 vs 31,428 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 S100YFXZ
(関西電力株式会社), period end 2026-03-31.