Earnings quality
Compare earnings and operating cash flow for earnings quality.
SECOM Co., Ltd.
Ticker 9735 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-24 · Period end 2026-03-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 12.8%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin12.8%
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
セコム株式会社 is a Japanese listed company. Its reportable segments include BPOICT, Fire Protection Services, Geospatial Information Services, Insurance Services.
- BPOICT
- Fire Protection Services
- Geospatial Information Services
- Insurance Services
- Medical Services
- Security Services
- Operating Segments Not Included In
- Total Of
Segments BPOICT · Fire Protection Services · Geospatial Information Services · Insurance Services · Medical Services · Security Services
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 | ¥1.2T | ¥1.3T |
| Cost of sales* | ¥828.8B | ¥858.1B |
| Gross profit | ¥371.2B | ¥398.8B |
| Operating profit (loss) | ¥144.3B | ¥160.3B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥49.6B | ¥52.0B |
| Profit (loss) | ¥125.3B | ¥128.1B |
| Profit (loss) attributable to owners | ¥108.1B | ¥112.7B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥408.4B | ¥406.7B |
| Current assets | ¥968.8B | ¥981.7B |
| Non-current assets | ¥1.2T | ¥1.2T |
| Total assets | ¥2.1T | ¥2.2T |
| Short-term borrowings | ¥31.6B | ¥28.7B |
| Current liabilities | ¥379.3B | ¥405.4B |
| Non-current liabilities* | ¥318.5B | ¥325.1B |
| Total liabilities | ¥697.8B | ¥730.4B |
| 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 | ¥167.8B | ¥203.6B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | -¥85.2B | -¥118.1B |
| Net increase (decrease) in cash | -¥15.8B | -¥1.7B |
| Cash at end of period | ¥408.4B | ¥406.7B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥1.0T | ¥1.1T | ¥1.2T | ¥1.2T | ¥1.3T | |
| Operating profit | ¥153.2B | ¥156.1B | ¥166.9B | ¥175.1B | ¥182.2B | |
| Profit to owners | — | — | — | ¥108.1B | ¥112.7B | |
| Total assets | ¥1.9T | ¥2.0T | ¥2.1T | ¥2.1T | ¥2.2T | |
| Cash & equivalents | — | — | ¥424.2B | ¥408.4B | ¥406.7B | |
| Owners’ equity | ¥1.3T | ¥1.3T | ¥1.4T | ¥1.4T | ¥1.5T |
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 ¥1.2T to ¥1.3T (▲ +4.7%), so the top line did not break. Gross profit only slipped from ¥371.2B to ¥398.8B, while operating profit swung from ¥144.3B to ¥160.3B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥203.6B (prior ¥167.8B), and cash on the balance sheet rose to ¥406.7B from ¥408.4B. 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.
Goodwill on the balance sheet fell from ¥58.8B to ¥56.1B, consistent with heavy write-downs of past acquisitions’ carrying values.
The balance sheet got heavier on leverage. Total liabilities rose to ¥730.4B while owners’ equity fell to —. ROE moved from 8.7% to 8.7%, and the equity ratio from 59.2% to 58.9%. Employee count is 65,094 vs 64,655 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Owners’ equity ratio fell from 59.2% to 58.9%; the balance sheet absorbed a heavy loss year.
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Source: EDINET S100YICV
(セコム株式会社), period end 2026-03-31.