Cash flow Kikkoman Corporation

Equities

2801

JP3240400006

Food Processing

Market Closed - Japan Exchange Other stock markets 02:30:00 2025-06-24 am EDT			5-day change	1st Jan Change
1,284.00 ^JPY	+0.12%		+0.47%	-27.15%

Jun. 12	Trump throws curveball at Japan tea giant's US expansion swing	RE
Apr. 28	Kikkoman to Buy Back Up to 20 Billion Yen of Shares	MT

1d.YWZ2Rd0PDwNg4k-NvvnQvMyAijh9ekMHlje2_CMTye4.LQMyE4d6V2QjlCDM1s68jJrW3kwOKDtJ02_UjlZlptsXAwU3mVx1MlavAg

Published financial data: KIKKOMAN CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	469B	439B	516B	619B	661B
Total Revenues	469B	439B	516B	619B	661B
Cost of Goods Sold, Total	287B	285B	338B	414B	432B
Gross Profit	182B	154B	179B	204B	229B
Selling General & Admin Expenses, Total	142B	99.28B	114B	132B	141B
Provision for Bad Debts	999M	-	-	-	-
R&D Expenses	-	4.76B	4.89B	5.17B	5.07B
Depreciation & Amortization - (IS)	-	7.54B	7.81B	8.78B	9.71B
Other Operating Expenses	-	-457M	2.38B	887M	3.7B
Other Operating Expenses, Total	143B	111B	129B	147B	159B
Operating Income	38.83B	43.11B	49.89B	57.89B	69.7B
Interest Expense, Total	-464M	-919M	-737M	-995M	-1.49B
Interest And Investment Income	2.02B	1.12B	1.17B	2.7B	5.11B
Net Interest Expenses	1.56B	196M	431M	1.7B	3.62B
Income (Loss) On Equity Invest.	209M	206M	249M	254M	262M
Currency Exchange Gains (Loss)	1.39B	-1.22B	-5.7B	-6.33B	-7.4B
Other Non Operating Income (Expenses)	-3.36B	167M	-223M	-143M	-312M
EBT, Excl. Unusual Items	38.63B	42.45B	44.65B	53.38B	65.87B
Gain (Loss) On Sale Of Investments	-51M	-	2.17B	-	-2B
Gain (Loss) On Sale Of Assets	15M	-976M	-490M	-772M	-397M
Asset Writedown	-660M	1.72B	7.9B	8.19B	12.14B
Other Unusual Items	-2M	-	-	-	-
EBT, Incl. Unusual Items	37.93B	43.19B	54.23B	60.8B	75.6B
Income Tax Expense	10.92B	11.57B	14.88B	16.6B	18.7B
Earnings From Continuing Operations	27B	31.62B	39.34B	44.2B	56.9B
Net Income to Company	27B	31.62B	39.34B	44.2B	56.9B
Minority Interest	-409M	-462M	-441M	-466M	-458M
Net Income - (IS)	26.6B	31.16B	38.9B	43.73B	56.44B
Net Income to Common Incl Extra Items	26.6B	31.16B	38.9B	43.73B	56.44B
Net Income to Common Excl. Extra Items	26.6B	31.16B	38.9B	43.73B	56.44B
Per Share Items
Net EPS - Basic	27.71	32.46	40.59	45.67	59.19
Basic EPS - Continuing Operations	27.71	32.46	40.59	45.67	59.19
Basic Weighted Average Shares Outstanding	960M	960M	959M	958M	953M
Net EPS - Diluted	27.71	32.46	40.59	45.67	59.19
Diluted EPS - Continuing Operations	27.71	32.46	40.59	45.67	59.19
Diluted Weighted Average Shares Outstanding	960M	960M	959M	958M	953M
Normalized Basic EPS	24.72	27.16	28.65	34.35	42.7
Normalized Diluted EPS	24.72	27.16	28.65	34.35	42.7
Dividend Per Share	8.4	9	12.2	13.6	20.8
Payout Ratio	30.33	25.88	22.68	30.23	27.77
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	55.61B	62.34B	69.92B	80.13B	93.72B
EBITA	38.83B	43.11B	49.89B	57.89B	69.7B
EBIT	38.83B	43.11B	49.89B	57.89B	69.7B
Effective Tax Rate - (Ratio)	28.8	26.79	27.45	27.3	24.74
Normalized Net Income	23.73B	26.07B	27.46B	32.89B	40.71B
Non-Cash Pension Expense	-526M	1.32B	5.27B	5.71B	4.57B
Supplemental Operating Expense Items
Advertising Expense	10.71B	14.37B	14.55B	14.72B	17.83B
Selling and Marketing Expenses	66.69B	38.46B	42.75B	46.08B	48.75B
Research And Development Expense From Footnotes	4.37B	4.76B	4.89B	5.17B	5.07B

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	30.09B	55.68B	79.23B	99.35B	119B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	30.09B	55.68B	79.23B	99.35B	119B
Accounts Receivable, Total	59.95B	62.58B	69.41B	75.07B	83.82B
Total Receivables	59.95B	62.58B	69.41B	75.07B	83.82B
Inventory	60.95B	63.08B	82.7B	92.22B	94.97B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	8.54B	11B	8.86B	14.57B	44.53B
Total Current Assets	160B	192B	240B	281B	342B
Net Property Plant And Equipment	149B	149B	160B	181B	210B
Long-term Investments	64.26B	83.85B	90.18B	91.49B	104B
Goodwill	4.16B	5.01B	4.63B	4.66B	3.4B
Other Intangibles, Total	5B	5.08B	4.95B	4.8B	4.96B
Loans Receivable Long-Term	1.88B	-	-	-	-
Deferred Tax Assets Long-Term	3.42B	3B	3.43B	3.06B	2.7B
Other Long-Term Assets, Total	2M	5M	6M	6M	5M
Total Assets	387B	439B	503B	566B	668B
Liabilities
Accounts Payable, Total	23.41B	50.6B	59.57B	61.33B	65.06B
Accrued Expenses, Total	2.79B	-	-	-	-
Short-term Borrowings	5.31B	3.75B	4.1B	4.05B	3.77B
Current Portion of Long-Term Debt	-	202M	400M	13B	-
Current Portion of Leases	2.44B	4.97B	4.31B	5.16B	6.98B
Current Income Taxes Payable	22.55B	4.21B	5.18B	2.64B	4.22B
Other Current Liabilities	5.29B	8.97B	9.65B	12.57B	15.04B
Total Current Liabilities	61.79B	72.7B	83.22B	98.76B	95.07B
Long-Term Debt	13.6B	13.4B	13B	400M	14.4B
Long-Term Leases	14B	19.35B	21.64B	28.37B	34.76B
Pension & Other Post Retirement Benefits	7.98B	5.05B	5.32B	4.66B	3.73B
Deferred Tax Liability Non Current	6.85B	8.53B	8.75B	10.05B	13.06B
Other Non Current Liabilities	5.36B	5.98B	7.21B	7.18B	8.6B
Total Liabilities	110B	125B	139B	149B	170B
Common Stock, Total	11.6B	11.6B	11.6B	11.6B	11.6B
Additional Paid In Capital	13.7B	13.7B	13.7B	13.74B	13.87B
Retained Earnings	244B	267B	297B	329B	376B
Treasury Stock	-3.64B	-3.66B	-6.81B	-7.33B	-16.97B
Comprehensive Income and Other	6.74B	19.42B	42.21B	63.01B	107B
Total Common Equity	272B	308B	358B	411B	491B
Minority Interest	5.32B	5.38B	6.09B	6.46B	6.9B
Total Equity	278B	314B	364B	417B	498B
Total Liabilities And Equity	387B	439B	503B	566B	668B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	960M	960M	958M	957M	951M
ECS Total Common Shares Outstanding	960M	960M	958M	957M	-
Book Value / Share	283.82	321.02	373.63	428.78	516.42
Tangible Book Value	263B	298B	348B	401B	483B
Tangible Book Value Per Share	274.27	310.51	363.63	418.91	507.62
Total Debt	35.35B	41.66B	43.46B	50.98B	59.91B
Net Debt	5.26B	-14.02B	-35.77B	-48.36B	-59.25B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.31B	-2.39B	-2.5B	-3.52B	-9.86B
Minority Interest, Total (Incl. Fin. Div)	5.32B	5.38B	6.09B	6.46B	6.9B
Equity Method Investments, Total	-	3.54B	3.94B	4.25B	5.33B
Inventories - Raw Materials, Total	5.9B	5.97B	7.38B	8.79B	6.97B
Inventories - Work In Process, Total	11.8B	11.73B	12.95B	15.97B	16.93B
Inventories - Finished Goods, Total	43.26B	45.39B	62.38B	67.46B	71.07B
Inventories - Others	-	1M	2M	1M	-
Full Time Employees	7.38K	7.64K	7.69K	7.78K	7.52K
Accumulated Allowance for Doubtful Accounts (Supple)	1.19B	656M	491M	537M	587M

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	37.93B	43.19B	54.23B	60.8B	75.6B
Depreciation & Amortization - CF	16.79B	19.24B	20.03B	22.24B	24.02B
Depreciation & Amortization, Total	16.79B	19.24B	20.03B	22.24B	24.02B
(Gain) Loss From Sale Of Asset	1.51B	2.16B	1.47B	1.77B	397M
(Gain) Loss on Sale of Investments - (CF)	-202M	-	-2.17B	-	-
(Income) Loss On Equity Investments - (CF)	-209M	-206M	-249M	-254M	-262M
Other Operating Activities, Total	-10.24B	-10.19B	-15.27B	-19.79B	-19.11B
Change In Accounts Receivable	-1.59B	1.36B	-3.95B	-2.38B	-3.27B
Change In Inventories	-3.59B	533M	-14.48B	-5.02B	-1.44B
Change In Accounts Payable	2.03B	1.71B	4.97B	-2.07B	-2.95B
Change in Other Net Operating Assets	-2.77B	-620M	7.52B	3.91B	7.81B
Cash from Operations	39.65B	57.17B	52.09B	59.2B	80.81B
Capital Expenditure	-24.8B	-15.72B	-18.7B	-25.6B	-29.7B
Sale of Property, Plant, and Equipment	124M	269M	201M	102M	93M
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-	3.67B	-	-
Sale (Purchase) of Intangible assets	-1.16B	-1.32B	-867M	-949M	-1.36B
Investment in Marketable and Equity Securities, Total	-4.12B	-807M	-1.72B	-928M	-19.21B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-498M	52M	-147M	-52M	-107M
Other Investing Activities, Total	1.22B	643M	1.46B	802M	7.29B
Cash from Investing	-29.23B	-16.89B	-16.1B	-26.62B	-42.99B
Short Term Debt Issued, Total	1.95B	-	236M	-	-
Long-Term Debt Issued, Total	-	-	-	400M	14B
Total Debt Issued	1.95B	-	236M	400M	14B
Short Term Debt Repaid, Total	-	-1.58B	-	-145M	-316M
Long-Term Debt Repaid, Total	-	-	-202M	-400M	-13B
Total Debt Repaid	-	-1.58B	-202M	-545M	-13.32B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-16M	-33M	-3.15B	-519M	-9.69B
Common & Preferred Stock Dividends Paid	-8.06B	-8.06B	-8.82B	-13.22B	-15.68B
Common & Preferred Stock Dividends Paid	-8.06B	-8.06B	-8.82B	-13.22B	-15.68B
Other Financing Activities, Total	-3.01B	-5.74B	-5.96B	-6.5B	-6.74B
Cash from Financing	-9.15B	-15.42B	-17.9B	-20.38B	-31.42B
Foreign Exchange Rate Adjustments	-820M	2.71B	5.46B	7.92B	13.42B
Miscellaneous Cash Flow Adjustments	134M	-1M	-1M	-	-1M
Net Change in Cash	593M	27.57B	23.55B	20.12B	19.81B
Supplemental Items
Cash Interest Paid	453M	932M	745M	1.01B	1.47B
Cash Income Tax Paid (Refund)	10.27B	10.24B	15.27B	19.6B	19.43B
Levered Free Cash Flow	13.05B	31.08B	17.52B	12.49B	1.91B
Unlevered Free Cash Flow	13.34B	31.65B	17.98B	13.11B	2.84B
Change In Net Working Capital	1.76B	-2.52B	13.67B	18.77B	33.68B
Net Debt Issued / Repaid	1.95B	-1.58B	34M	-145M	684M

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	6.48	6.52	6.62	6.77	7.06
Return on Total Capital	8.08	8.06	8.18	8.27	8.49
Return On Equity %	9.85	10.7	11.62	11.32	12.43
Return on Common Equity	9.89	10.73	11.68	11.38	12.52
Margin Analysis
Gross Profit Margin %	38.76	35.1	34.63	33.03	34.61
SG&A Margin	30.26	22.59	22.05	21.28	21.27
EBITDA Margin %	11.87	14.19	13.54	12.95	14.18
EBITA Margin %	8.29	9.81	9.66	9.35	10.55
EBIT Margin %	8.29	9.81	9.66	9.35	10.55
Income From Continuing Operations Margin %	5.76	7.2	7.62	7.14	8.61
Net Income Margin %	5.68	7.09	7.53	7.07	8.54
Net Avail. For Common Margin %	5.68	7.09	7.53	7.07	8.54
Normalized Net Income Margin	5.06	5.93	5.32	5.32	6.16
Levered Free Cash Flow Margin	2.78	7.07	3.39	2.02	0.29
Unlevered Free Cash Flow Margin	2.85	7.2	3.48	2.12	0.43
Asset Turnover
Asset Turnover	1.25	1.06	1.1	1.16	1.07
Fixed Assets Turnover	3.44	2.95	3.34	3.63	3.38
Receivables Turnover (Average Receivables)	7.81	7.17	7.83	8.57	8.32
Inventory Turnover (Average Inventory)	4.79	4.6	4.63	4.74	4.62
Short Term Liquidity
Current Ratio	2.58	2.65	2.89	2.85	3.6
Quick Ratio	1.46	1.63	1.79	1.77	2.14
Operating Cash Flow to Current Liabilities	0.64	0.79	0.63	0.6	0.85
Days Sales Outstanding (Average Receivables)	46.84	50.89	46.64	42.6	44
Days Outstanding Inventory (Average Inventory)	76.39	79.38	78.81	77.02	79.28
Average Days Payable Outstanding	28.99	47.01	56.29	52.04	53.19
Cash Conversion Cycle (Average Days)	94.24	83.26	69.16	67.58	70.09
Long Term Solvency
Total Debt/Equity	12.73	13.29	11.94	12.23	12.02
Total Debt / Total Capital	11.29	11.73	10.67	10.89	10.73
LT Debt/Equity	9.94	10.44	9.52	6.9	9.87
Long-Term Debt / Total Capital	8.81	9.22	8.5	6.15	8.81
Total Liabilities / Total Assets	28.29	28.5	27.66	26.38	25.4
EBIT / Interest Expense	83.68	46.91	67.7	58.18	46.78
EBITDA / Interest Expense	119.86	67.84	94.87	80.53	62.9
(EBITDA - Capex) / Interest Expense	66.41	50.73	69.5	54.81	42.97
Total Debt / EBITDA	0.64	0.67	0.62	0.64	0.64
Net Debt / EBITDA	0.09	-0.22	-0.51	-0.6	-0.63
Total Debt / (EBITDA - Capex)	1.15	0.89	0.85	0.93	0.94
Net Debt / (EBITDA - Capex)	0.17	-0.3	-0.7	-0.89	-0.93
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	3.32	-6.23	17.53	19.84	6.78
Gross Profit, 1 Yr. Growth %	3.34	-15.09	15.95	14.31	11.88
EBITDA, 1 Yr. Growth %	9.45	12.1	12.16	14.6	16.96
EBITA, 1 Yr. Growth %	3.38	11.02	15.74	16.03	20.4
EBIT, 1 Yr. Growth %	3.38	11.02	15.74	16.03	20.4
Earnings From Cont. Operations, 1 Yr. Growth %	2.28	17.1	24.42	12.34	28.73
Net Income, 1 Yr. Growth %	2.32	17.16	24.85	12.42	29.06
Normalized Net Income, 1 Yr. Growth %	12.84	9.85	5.34	19.78	23.76
Diluted EPS Before Extra, 1 Yr. Growth %	2.32	17.16	25.03	12.53	29.6
Accounts Receivable, 1 Yr. Growth %	-0.08	4.38	10.91	8.16	11.66
Inventory, 1 Yr. Growth %	3.59	3.5	31.09	11.51	2.98
Net Property, Plant and Equip., 1 Yr. Growth %	20.81	0.1	7.01	13.46	16.04
Total Assets, 1 Yr. Growth %	6.96	13.21	14.72	12.59	17.92
Tangible Book Value, 1 Yr. Growth %	3.19	13.21	16.84	15.17	20.43
Common Equity, 1 Yr. Growth %	2.64	13.1	16.12	14.73	19.69
Cash From Operations, 1 Yr. Growth %	7.11	44.16	-8.88	13.64	36.51
Capital Expenditures, 1 Yr. Growth %	-6.71	-36.62	18.95	36.89	16.05
Levered Free Cash Flow, 1 Yr. Growth %	166.9	138.2	-43.62	-28.73	-84.7
Unlevered Free Cash Flow, 1 Yr. Growth %	168.34	137.33	-43.19	-27.09	-78.32
Dividend Per Share, 1 Yr. Growth %	2.44	7.14	35.56	11.48	52.94
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.32	-1.57	4.98	18.68	13.12
Gross Profit, 2 Yr. CAGR %	3.31	-6.32	-0.78	15.13	13.09
EBITDA, 2 Yr. CAGR %	5.82	10.76	12.13	13.37	15.77
EBITA, 2 Yr. CAGR %	3.13	7.14	13.36	15.89	18.2
EBIT, 2 Yr. CAGR %	3.13	7.14	13.36	15.89	18.2
Earnings From Cont. Operations, 2 Yr. CAGR %	5.73	9.44	20.7	18.23	20.26
Net Income, 2 Yr. CAGR %	5.61	9.49	20.95	18.47	20.45
Normalized Net Income, 2 Yr. CAGR %	0.42	11.34	7.57	12.33	21.75
Diluted EPS Before Extra, 2 Yr. CAGR %	5.82	9.49	21.03	18.62	20.77
Accounts Receivable, 2 Yr. CAGR %	1.71	2.12	7.6	9.53	9.89
Inventory, 2 Yr. CAGR %	6.59	3.54	16.48	20.91	7.16
Net Property, Plant and Equip., 2 Yr. CAGR %	16.35	9.97	3.5	10.19	14.74
Total Assets, 2 Yr. CAGR %	5.66	10.04	13.96	13.65	15.22
Tangible Book Value, 2 Yr. CAGR %	5.27	8.09	15.01	16	17.77
Common Equity, 2 Yr. CAGR %	4.8	7.74	14.6	15.42	17.18
Cash From Operations, 2 Yr. CAGR %	2.63	24.26	14.62	1.76	24.55
Capital Expenditures, 2 Yr. CAGR %	23.01	-23.11	-13.17	27.61	26.04
Levered Free Cash Flow, 2 Yr. CAGR %	-20.51	152.15	15.88	-36.61	-66.98
Unlevered Free Cash Flow, 2 Yr. CAGR %	-19.99	152.36	16.11	-35.64	-60.24
Dividend Per Share, 2 Yr. CAGR %	11.14	4.76	20.51	22.93	30.57
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.23	0.68	4.42	9.72	14.57
Gross Profit, 3 Yr. CAGR %	4.36	-3.23	0.58	4.02	14.04
EBITDA, 3 Yr. CAGR %	7.17	7.87	11.23	12.95	14.56
EBITA, 3 Yr. CAGR %	5.74	5.7	9.93	14.24	17.37
EBIT, 3 Yr. CAGR %	5.74	5.7	9.93	14.24	17.37
Earnings From Cont. Operations, 3 Yr. CAGR %	4.21	9.39	14.22	17.85	21.63
Net Income, 3 Yr. CAGR %	3.76	9.33	14.39	18.03	21.9
Normalized Net Income, 3 Yr. CAGR %	5.92	3.47	9.3	11.5	16.02
Diluted EPS Before Extra, 3 Yr. CAGR %	3.97	9.48	14.44	18.13	22.17
Accounts Receivable, 3 Yr. CAGR %	3.26	2.59	4.97	7.78	10.23
Inventory, 3 Yr. CAGR %	7.1	5.55	12.02	14.8	14.61
Net Property, Plant and Equip., 3 Yr. CAGR %	11.92	10.66	8.97	6.72	12.1
Total Assets, 3 Yr. CAGR %	2.35	8.12	11.58	13.5	15.06
Tangible Book Value, 3 Yr. CAGR %	4.85	7.86	10.93	15.06	17.46
Common Equity, 3 Yr. CAGR %	4.31	7.49	10.47	14.65	16.83
Cash From Operations, 3 Yr. CAGR %	14.91	14.94	12.06	14.29	12.23
Capital Expenditures, 3 Yr. CAGR %	31.24	-1.39	-11.07	1.06	23.63
Levered Free Cash Flow, 3 Yr. CAGR %	16.04	14.61	53.04	-1.45	-60.53
Unlevered Free Cash Flow, 3 Yr. CAGR %	14.75	14.96	53.51	-0.57	-55.22
Dividend Per Share, 3 Yr. CAGR %	7.3	9.79	14.16	17.42	32.21
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	4.76	1.48	5.13	7.52	7.82
Gross Profit, 5 Yr. CAGR %	4.47	-0.75	2.27	3.74	5.41
EBITDA, 5 Yr. CAGR %	7.76	6.96	9.13	10.04	13.02
EBITA, 5 Yr. CAGR %	8.88	5.75	8.72	9.66	13.16
EBIT, 5 Yr. CAGR %	8.88	5.75	8.72	9.66	13.16
Earnings From Cont. Operations, 5 Yr. CAGR %	11.75	9.41	10.52	12.84	16.6
Net Income, 5 Yr. CAGR %	11.57	9.31	10.32	12.9	16.78
Normalized Net Income, 5 Yr. CAGR %	14.45	4.49	6.58	6.93	14.12
Diluted EPS Before Extra, 5 Yr. CAGR %	12.12	9.59	10.48	13.04	16.93
Accounts Receivable, 5 Yr. CAGR %	3.81	3.96	4.98	5.31	6.91
Inventory, 5 Yr. CAGR %	4.46	5.42	10.76	11.45	10.05
Net Property, Plant and Equip., 5 Yr. CAGR %	7.32	7.29	8.47	10.47	11.25
Total Assets, 5 Yr. CAGR %	0.45	3.7	6.85	10.3	13.02
Tangible Book Value, 5 Yr. CAGR %	4.22	7.55	8.8	11.04	13.62
Common Equity, 5 Yr. CAGR %	2.87	6.62	8.31	10.6	13.11
Cash From Operations, 5 Yr. CAGR %	4.61	8.71	14.79	9.48	16.89
Capital Expenditures, 5 Yr. CAGR %	16.86	3.85	11.25	9.32	2.24
Levered Free Cash Flow, 5 Yr. CAGR %	9.41	2.27	15.98	-9.57	-17.13
Unlevered Free Cash Flow, 5 Yr. CAGR %	8.1	2.16	15.29	-8.85	-10.58
Dividend Per Share, 5 Yr. CAGR %	11.84	7.06	12.4	14.87	20.46