Cash flow Kao Corporation

Equities

4452

JP3205800000

Personal Products

Market Closed - Japan Exchange Other stock markets 02:30:00 2025-06-13 am EDT			5-day change	1st Jan Change
6,692.00 ^JPY	-0.27%		+0.57%	+4.76%

Jun. 05	Kao Ramps Up Global Push for KATE Brand With New Campaigns and Asia-Focused Expansion	MT
May. 08	Kao Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending December 31, 2025	CI

e260a68a80e1936eb.sBlGiu7pKH4473EdaQ1JQf1hEVUCHuIgBPzZM2EQD3U.6S4j75a4axlKvAZFLV8dEopXUztwX4QNKcu0UVh5ekToWw_FgttKS17bKA

Published financial data: KAO CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	1,382B	1,419B	1,551B	1,533B	1,628B
Total Revenues	1,382B	1,419B	1,551B	1,533B	1,628B
Cost of Goods Sold, Total	791B	846B	1,003B	972B	990B
Gross Profit	591B	573B	548B	560B	638B
Selling General & Admin Expenses, Total	330B	342B	354B	376B	408B
R&D Expenses	58.51B	58.99B	60.6B	62.58B	62.09B
Depreciation & Amortization - (IS)	27.22B	26.19B	26.5B	27.82B	28.33B
Other Operating Expenses	-4.04B	-6.59B	-6.3B	-6.55B	-4.75B
Other Operating Expenses, Total	412B	420B	435B	460B	493B
Operating Income	179B	153B	114B	100B	145B
Interest Expense, Total	-3.09B	-2.49B	-2.35B	-3.38B	-3.62B
Interest And Investment Income	1.59B	1.36B	2.23B	3.62B	4.8B
Net Interest Expenses	-1.5B	-1.13B	-127M	236M	1.18B
Income (Loss) On Equity Invest.	2.54B	2.62B	2.54B	2.39B	3.48B
Currency Exchange Gains (Loss)	-2.62B	4.99B	3.28B	1.03B	-427M
Other Non Operating Income (Expenses)	-7M	10M	81M	152M	141M
EBT, Excl. Unusual Items	177B	159B	120B	104B	149B
Restructuring Charges	-	-	-	-13.58B	-3.36B
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-3.35B	-4.68B	-3.62B	-4.9B	6.8B
Asset Writedown	-	-4.55B	-34M	-21.7B	-1.81B
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	174B	150B	116B	63.84B	151B
Income Tax Expense	45.9B	38.59B	28.11B	17.68B	40.65B
Earnings From Continuing Operations	128B	111B	87.74B	46.16B	110B
Net Income to Company	128B	111B	87.74B	46.16B	110B
Minority Interest	-1.92B	-1.78B	-1.7B	-2.29B	-2.61B
Net Income - (IS)	126B	110B	86.04B	43.87B	108B
Net Income to Common Incl Extra Items	126B	110B	86.04B	43.87B	108B
Net Income to Common Excl. Extra Items	126B	110B	86.04B	43.87B	108B
Per Share Items
Net EPS - Basic	262.29	230.59	183.28	94.37	231.94
Basic EPS - Continuing Operations	262.29	230.59	183.28	94.37	231.94
Basic Weighted Average Shares Outstanding	481M	475M	469M	465M	465M
Net EPS - Diluted	262.25	230.57	183.27	94.37	231.94
Diluted EPS - Continuing Operations	262.25	230.57	183.27	94.37	231.94
Diluted Weighted Average Shares Outstanding	481M	476M	469M	465M	465M
Normalized Basic EPS	226.43	205.57	155.48	134.93	195.35
Normalized Diluted EPS	226.4	205.56	155.47	134.93	195.35
Dividend Per Share	140	144	148	150	152
Payout Ratio	51.52	61.89	80.12	158.06	65.18
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	265B	240B	203B	190B	233B
EBITA	179B	153B	114B	100B	145B
EBIT	179B	153B	114B	100B	145B
Effective Tax Rate - (Ratio)	26.39	25.72	24.26	27.7	26.92
Normalized Net Income	109B	97.74B	72.99B	62.72B	90.76B
Non-Cash Pension Expense	534M	400M	272M	343M	-43M
Supplemental Operating Expense Items
Advertising Expense	118B	122B	122B	127B	143B
Selling and Marketing Expenses	118B	122B	122B	127B	143B
Research And Development Expense From Footnotes	58.5B	59B	60.6B	62.6B	62.1B

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	353B	336B	268B	292B	358B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	353B	336B	268B	292B	358B
Accounts Receivable, Total	200B	216B	231B	226B	238B
Other Receivables	2.46B	2.51B	4.17B	5.19B	5.47B
Total Receivables	203B	219B	235B	231B	244B
Inventory	198B	228B	278B	264B	275B
Prepaid Expenses	7.89B	9.56B	10.96B	11.33B	13.76B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	17.14B	17.38B	14.84B	19.18B	24.38B
Total Current Assets	778B	810B	807B	817B	914B
Net Property Plant And Equipment	580B	573B	578B	547B	540B
Long-term Investments	39.2B	44.07B	45.31B	49.66B	53.92B
Goodwill	177B	183B	192B	219B	228B
Other Intangibles, Total	48.26B	52.64B	60.18B	81.76B	81.95B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	42.27B	41.35B	43.83B	55.52B	49.04B
Total Assets	1,666B	1,704B	1,726B	1,770B	1,867B
Liabilities
Accounts Payable, Total	216B	229B	244B	236B	258B
Accrued Expenses, Total	80.9B	86.53B	88.35B	84.83B	95B
Short-term Borrowings	408M	848M	648M	14.02B	724M
Current Portion of Long-Term Debt	30.06B	5.31B	65.02B	22M	35.02B
Current Portion of Leases	19.79B	19.93B	19.44B	19.02B	20.15B
Current Income Taxes Payable	38.62B	31.52B	19.54B	26.39B	33.26B
Other Current Liabilities	39.79B	48.68B	49.85B	80.14B	67.4B
Total Current Liabilities	425B	422B	487B	460B	510B
Long-Term Debt	97.23B	122B	62.17B	124B	95.31B
Long-Term Leases	127B	121B	116B	104B	94.12B
Pension & Other Post Retirement Benefits	51.86B	29.84B	38.74B	40.45B	39.46B
Deferred Tax Liability Non Current	4.58B	5.83B	6.86B	8.68B	9.75B
Other Non Current Liabilities	21.62B	19.96B	20.97B	20.63B	20.16B
Total Liabilities	727B	720B	731B	758B	768B
Common Stock, Total	85.42B	85.42B	85.42B	85.42B	85.42B
Additional Paid In Capital	107B	106B	106B	106B	106B
Retained Earnings	779B	782B	740B	712B	749B
Treasury Stock	-3.86B	-3.96B	-3.46B	-3.27B	-5.92B
Comprehensive Income and Other	-43.38B	-3.72B	43.84B	83.92B	132B
Total Common Equity	924B	965B	972B	984B	1,067B
Minority Interest	14.51B	18.74B	23.32B	28.38B	32.06B
Total Equity	938B	984B	995B	1,012B	1,099B
Total Liabilities And Equity	1,666B	1,704B	1,726B	1,770B	1,867B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	481M	474M	465M	465M	464M
ECS Total Common Shares Outstanding	481M	-	465M	465M	464M
Book Value / Share	1.92K	2.04K	2.09K	2.12K	2.3K
Tangible Book Value	698B	729B	720B	683B	756B
Tangible Book Value Per Share	1.45K	1.54K	1.55K	1.47K	1.63K
Total Debt	274B	269B	263B	261B	245B
Net Debt	-78.97B	-67.39B	-5.36B	-30.59B	-112B
Debt Equivalent of Unfunded Proj. Benefit Obligation	48.84B	24.79B	2.08B	-26.44B	-61.64B
Minority Interest, Total (Incl. Fin. Div)	14.51B	18.74B	23.32B	28.38B	32.06B
Equity Method Investments, Total	8.66B	10.05B	11.06B	11.81B	14.53B
Inventories - Raw Materials, Total	35.32B	45.4B	53.04B	44.74B	50.27B
Inventories - Work In Process, Total	12.85B	14.12B	16.37B	15.84B	15.19B
Inventories - Finished Goods, Total	149B	169B	209B	203B	209B
Full Time Employees	33.41K	33.51K	35.41K	34.26K	32.57K
Accumulated Allowance for Doubtful Accounts (Supple)	2.04B	1.74B	1.61B	2.08B	1.84B

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	174B	150B	116B	63.84B	151B
Depreciation & Amortization - CF	86.08B	87.34B	89.74B	89.6B	88.42B
Depreciation & Amortization, Total	86.08B	87.34B	89.74B	89.6B	88.42B
(Gain) Loss From Sale Of Asset	3.3B	4.46B	3.52B	26.49B	4.17B
(Income) Loss On Equity Investments - (CF)	-2.54B	-2.62B	-2.54B	-2.39B	-3.48B
Other Operating Activities, Total	-51.99B	-43.8B	-36.96B	-22.25B	-25.43B
Change In Accounts Receivable	6.44B	-4.44B	3.39B	20.48B	1.18B
Change In Inventories	646M	-20.51B	-36.93B	29.38B	-1.41B
Change In Accounts Payable	-4.23B	8.68B	5.5B	-19.38B	10.99B
Change in Other Net Operating Assets	3.03B	-3.6B	-10.66B	16.72B	-23.89B
Cash from Operations	215B	176B	131B	202B	202B
Capital Expenditure	-59.4B	-59.95B	-65.52B	-54.17B	-57.4B
Sale of Property, Plant, and Equipment	-	-	-	-	9.83B
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Intangible assets	-10.45B	-11.57B	-11.68B	-12.28B	-10.07B
Investment in Marketable and Equity Securities, Total	5.61B	1.51B	3.23B	-2.64B	-3.42B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	2.3B	2.78B	-944M	-40.21B	15.17B
Cash from Investing	-61.94B	-67.23B	-74.91B	-109B	-45.9B
Short Term Debt Issued, Total	-	440M	-	12.91B	-
Long-Term Debt Issued, Total	26.02B	30.29B	7.28B	64.94B	10B
Total Debt Issued	26.02B	30.73B	7.28B	77.85B	10B
Short Term Debt Repaid, Total	-41M	-	-207M	-	-14.3B
Long-Term Debt Repaid, Total	-24.99B	-31.39B	-7.33B	-68.29B	-4.39B
Total Debt Repaid	-25.03B	-31.39B	-7.54B	-68.29B	-18.69B
Repurchase of Common Stock	-28M	-51.79B	-50.04B	-17M	-
Common & Preferred Stock Dividends Paid	-64.99B	-67.86B	-68.93B	-69.34B	-70.25B
Common & Preferred Stock Dividends Paid	-64.99B	-67.86B	-68.93B	-69.34B	-70.25B
Other Financing Activities, Total	-23.04B	-21.26B	-20.09B	-20.18B	-25.65B
Cash from Financing	-87.06B	-142B	-139B	-79.98B	-105B
Foreign Exchange Rate Adjustments	-2.22B	16.17B	15.5B	10.22B	14.94B
Net Change in Cash	63.5B	-17.11B	-67.82B	23.42B	66.05B
Supplemental Items
Cash Interest Paid	2.65B	2.04B	1.91B	2.6B	2.62B
Cash Income Tax Paid (Refund)	53.88B	45.9B	39.34B	24.63B	27.63B
Levered Free Cash Flow	136B	81.89B	22.61B	123B	105B
Unlevered Free Cash Flow	138B	83.44B	24.08B	125B	108B
Change In Net Working Capital	-9.91B	27.84B	59.53B	-38.87B	4.04B
Net Debt Issued / Repaid	988M	-661M	-258M	9.55B	-8.69B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	6.74	5.67	4.14	3.58	4.98
Return on Total Capital	9.43	7.75	5.66	4.95	6.93
Return On Equity %	14.15	11.59	8.87	4.6	10.46
Return on Common Equity	14.16	11.61	8.88	4.49	10.51
Margin Analysis
Gross Profit Margin %	42.74	40.4	35.35	36.57	39.2
SG&A Margin	23.89	24.1	22.81	24.56	25.04
EBITDA Margin %	19.17	16.92	13.12	12.38	14.33
EBITA Margin %	12.95	10.77	7.33	6.54	8.9
EBIT Margin %	12.95	10.77	7.33	6.54	8.9
Income From Continuing Operations Margin %	9.27	7.85	5.66	3.01	6.78
Net Income Margin %	9.13	7.73	5.55	2.86	6.62
Net Avail. For Common Margin %	9.13	7.73	5.55	2.86	6.62
Normalized Net Income Margin	7.88	6.89	4.71	4.09	5.57
Levered Free Cash Flow Margin	9.84	5.77	1.46	8	6.47
Unlevered Free Cash Flow Margin	9.98	5.88	1.55	8.13	6.6
Asset Turnover
Asset Turnover	0.83	0.84	0.9	0.88	0.9
Fixed Assets Turnover	2.34	2.46	2.7	2.73	3
Receivables Turnover (Average Receivables)	6.76	6.82	6.94	6.71	7.02
Inventory Turnover (Average Inventory)	3.98	3.97	3.96	3.59	3.68
Short Term Liquidity
Current Ratio	1.83	1.92	1.66	1.78	1.79
Quick Ratio	1.31	1.31	1.03	1.14	1.18
Operating Cash Flow to Current Liabilities	0.5	0.42	0.27	0.44	0.4
Days Sales Outstanding (Average Receivables)	54.15	53.55	52.57	54.36	52.14
Days Outstanding Inventory (Average Inventory)	91.88	91.88	92.18	101.79	99.53
Average Days Payable Outstanding	101.59	92.69	81.95	91.34	90.24
Cash Conversion Cycle (Average Days)	44.44	52.74	62.8	64.81	61.43
Long Term Solvency
Total Debt/Equity	29.23	27.31	26.41	25.8	22.33
Total Debt / Total Capital	22.62	21.45	20.89	20.51	18.25
LT Debt/Equity	23.87	24.66	17.86	22.53	17.24
Long-Term Debt / Total Capital	18.47	19.37	14.13	17.91	14.09
Total Liabilities / Total Assets	43.67	42.26	42.34	42.81	41.15
EBIT / Interest Expense	57.9	61.42	48.31	29.6	40.11
EBITDA / Interest Expense	85.76	96.54	86.43	56.07	64.57
(EBITDA - Capex) / Interest Expense	66.54	72.43	58.6	40.07	48.69
Total Debt / EBITDA	1.03	1.12	1.29	1.38	1.05
Net Debt / EBITDA	-0.3	-0.28	-0.03	-0.16	-0.48
Total Debt / (EBITDA - Capex)	1.33	1.49	1.91	1.92	1.39
Net Debt / (EBITDA - Capex)	-0.38	-0.37	-0.04	-0.23	-0.64
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-8	2.66	9.32	-1.19	6.26
Gross Profit, 1 Yr. Growth %	-9.61	-2.96	-4.34	2.2	13.91
EBITDA, 1 Yr. Growth %	-11.51	-9.4	-15.25	-6.71	22.99
EBITA, 1 Yr. Growth %	-17.2	-14.63	-25.54	-11.89	44.71
EBIT, 1 Yr. Growth %	-17.2	-14.63	-25.54	-11.89	44.71
Earnings From Cont. Operations, 1 Yr. Growth %	-14.82	-13	-21.25	-47.39	139.13
Net Income, 1 Yr. Growth %	-14.89	-13.09	-21.52	-49.01	145.65
Normalized Net Income, 1 Yr. Growth %	-17.65	-10.24	-25.33	-14.06	44.7
Diluted EPS Before Extra, 1 Yr. Growth %	-14.47	-12.08	-20.51	-48.51	145.78
Accounts Receivable, 1 Yr. Growth %	-4.19	8.06	6.66	-2.03	5.37
Inventory, 1 Yr. Growth %	-1.02	15.4	22.06	-5.23	4.1
Net Property, Plant and Equip., 1 Yr. Growth %	-3.52	-1.34	0.92	-5.39	-1.27
Total Assets, 1 Yr. Growth %	0.71	2.3	1.31	2.51	5.51
Tangible Book Value, 1 Yr. Growth %	10.82	4.38	-1.23	-5.14	10.75
Common Equity, 1 Yr. Growth %	7.69	4.49	0.72	1.19	8.45
Cash From Operations, 1 Yr. Growth %	-12.19	-18.25	-25.42	54.68	-0.44
Capital Expenditures, 1 Yr. Growth %	-29.26	0.93	9.29	-17.33	5.98
Levered Free Cash Flow, 1 Yr. Growth %	2.26	-39.8	-72.39	441.88	-14.08
Unlevered Free Cash Flow, 1 Yr. Growth %	1.96	-39.51	-71.14	417.56	-13.72
Dividend Per Share, 1 Yr. Growth %	7.69	2.86	2.78	1.35	1.33
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.27	-2.82	5.94	3.93	2.46
Gross Profit, 2 Yr. CAGR %	-4.96	-6.35	-3.65	-1.12	7.9
EBITDA, 2 Yr. CAGR %	-1.77	-10.46	-12.37	-11.09	7.11
EBITA, 2 Yr. CAGR %	-8.56	-15.92	-20.27	-19	12.92
EBIT, 2 Yr. CAGR %	-8.56	-15.92	-20.27	-19	12.92
Earnings From Cont. Operations, 2 Yr. CAGR %	-9.2	-13.92	-17.23	-35.64	12.16
Net Income, 2 Yr. CAGR %	-9.41	-13.99	-17.41	-36.74	11.92
Normalized Net Income, 2 Yr. CAGR %	-9.11	-14.03	-18.13	-19.89	11.52
Diluted EPS Before Extra, 2 Yr. CAGR %	-8.63	-13.29	-16.4	-36.02	12.5
Accounts Receivable, 2 Yr. CAGR %	-5.3	1.75	7.36	2.22	1.61
Inventory, 2 Yr. CAGR %	0.02	6.87	18.68	7.55	-0.68
Net Property, Plant and Equip., 2 Yr. CAGR %	17.71	-2.44	-0.22	-2.28	-3.35
Total Assets, 2 Yr. CAGR %	6.77	1.5	1.81	1.91	4
Tangible Book Value, 2 Yr. CAGR %	8.29	7.55	1.54	-3.21	2.5
Common Equity, 2 Yr. CAGR %	5.98	6.08	2.59	0.95	4.76
Cash From Operations, 2 Yr. CAGR %	4.77	-15.28	-21.92	7.4	24.09
Capital Expenditures, 2 Yr. CAGR %	-13.99	-15.5	5.03	-4.95	-6.4
Levered Free Cash Flow, 2 Yr. CAGR %	26.35	-21.54	-59.23	22.33	115.77
Unlevered Free Cash Flow, 2 Yr. CAGR %	26.35	-21.47	-58.22	22.22	111.31
Dividend Per Share, 2 Yr. CAGR %	8.01	5.25	2.82	2.06	1.34
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-2.46	-2.01	1.07	3.51	4.7
Gross Profit, 3 Yr. CAGR %	-3.4	-4.3	-5.68	-1.74	3.66
EBITDA, 3 Yr. CAGR %	0.25	-4.38	-12.09	-10.53	-0.93
EBITA, 3 Yr. CAGR %	-4.98	-10.63	-19.26	-17.57	-1.72
EBIT, 3 Yr. CAGR %	-4.98	-10.63	-19.26	-17.57	-1.72
Earnings From Cont. Operations, 3 Yr. CAGR %	-4.84	-10.49	-16.43	-28.84	-0.31
Net Income, 3 Yr. CAGR %	-4.98	-10.65	-16.58	-29.68	-0.57
Normalized Net Income, 3 Yr. CAGR %	-5.35	-9.49	-17.97	-16.8	-2.44
Diluted EPS Before Extra, 3 Yr. CAGR %	-4.18	-9.79	-15.77	-28.87	0.2
Accounts Receivable, 3 Yr. CAGR %	-2.59	-1.04	3.36	4.13	3.26
Inventory, 3 Yr. CAGR %	2.43	4.9	11.71	10.11	6.39
Net Property, Plant and Equip., 3 Yr. CAGR %	13.61	10.98	-1.33	-1.97	-1.95
Total Assets, 3 Yr. CAGR %	5.28	5.26	1.44	2.04	3.1
Tangible Book Value, 3 Yr. CAGR %	2.38	6.97	4.54	-0.74	1.24
Common Equity, 3 Yr. CAGR %	4.63	5.48	4.26	2.12	3.39
Cash From Operations, 3 Yr. CAGR %	4.93	-3.55	-18.8	-1.94	4.72
Capital Expenditures, 3 Yr. CAGR %	-10.79	-9.28	-7.93	-3.03	-1.44
Levered Free Cash Flow, 3 Yr. CAGR %	34.51	-1.31	-44.6	-3.42	8.74
Unlevered Free Cash Flow, 3 Yr. CAGR %	34.07	-1.16	-43.75	-3.32	8.83
Dividend Per Share, 3 Yr. CAGR %	8.37	6.27	4.42	2.33	1.82
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-1.25	-0.54	0.81	0.32	1.63
Gross Profit, 5 Yr. CAGR %	-6.2	-6.91	-3.5	-3.04	-0.47
EBITDA, 5 Yr. CAGR %	2.17	-0.19	-5.01	-7.12	-4.86
EBITA, 5 Yr. CAGR %	1.71	-4.4	-11.42	-14.08	-7.67
EBIT, 5 Yr. CAGR %	1.71	-4.4	-11.42	-14.08	-7.67
Earnings From Cont. Operations, 5 Yr. CAGR %	5.18	-2.72	-10	-21.55	-5.99
Net Income, 5 Yr. CAGR %	4.99	-2.83	-10.16	-22.18	-6.17
Normalized Net Income, 5 Yr. CAGR %	0.7	-3.51	-10.68	-13.8	-7.25
Diluted EPS Before Extra, 5 Yr. CAGR %	5.9	-1.85	-9.27	-21.38	-5.43
Accounts Receivable, 5 Yr. CAGR %	-0.38	0.73	1.27	0.25	2.66
Inventory, 5 Yr. CAGR %	4.56	6.66	8.64	5.95	6.58
Net Property, Plant and Equip., 5 Yr. CAGR %	12.11	9.08	7.87	5.47	-2.14
Total Assets, 5 Yr. CAGR %	5.38	4.95	3.88	3.91	2.46
Tangible Book Value, 5 Yr. CAGR %	5.56	6.69	2.04	2.78	3.72
Common Equity, 5 Yr. CAGR %	6.43	7.26	3.81	3.65	4.46
Cash From Operations, 5 Yr. CAGR %	3.49	-0.97	-6.77	0.69	-3.79
Capital Expenditures, 5 Yr. CAGR %	-1.5	-4.29	-4.77	-7.57	-7.32
Levered Free Cash Flow, 5 Yr. CAGR %	6.76	-11.22	-16.55	7.54	-4.57
Unlevered Free Cash Flow, 5 Yr. CAGR %	6.86	-11.06	-15.9	7.6	-4.49
Dividend Per Share, 5 Yr. CAGR %	11.84	8.9	6.11	4.56	3.18