Cash flow Mizuno Corporation

Equities

8022

JP3905200006

Recreational Products

Market Closed - Japan Exchange Other stock markets 01:30:00 2026-01-09 am EST			5-day change	1st Jan Change
3,430.00 ^JPY	-2.28%		+10.82%	+10.82%

Jan. 07	Japan Stocks Slip as China Export Ban Fuels Tensions	MT
Jan. 06	Mizuno to Make Baseballs in Cambodia Ahead of Global Tournament	MT

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Published financial data: MIZUNO CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	150B	173B	212B	230B	240B
Total Revenues	150B	173B	212B	230B	240B
Cost of Goods Sold, Total	89.82B	101B	131B	139B	142B
Gross Profit	60.6B	71.57B	81.02B	90.95B	98.56B
Selling General & Admin Expenses, Total	54.7B	59.52B	65.53B	70.78B	74.68B
Provision for Bad Debts	127M	53M	37M	154M	110M
Depreciation & Amortization - (IS)	1.97B	2.12B	2.51B	2.74B	2.99B
Other Operating Expenses, Total	56.79B	61.7B	68.08B	73.67B	77.78B
Operating Income	3.81B	9.87B	12.94B	17.28B	20.78B
Interest Expense, Total	-168M	-84M	-156M	-255M	-121M
Interest And Investment Income	319M	319M	279M	388M	426M
Net Interest Expenses	151M	235M	123M	133M	305M
Currency Exchange Gains (Loss)	746M	245M	648M	1.65B	-250M
Other Non Operating Income (Expenses)	1.32B	623M	322M	225M	519M
EBT, Excl. Unusual Items	6.03B	10.98B	14.04B	19.29B	21.35B
Gain (Loss) On Sale Of Investments	-2M	260M	58M	53M	465M
Gain (Loss) On Sale Of Assets	567M	180M	8M	991M	59M
Asset Writedown	-433M	-418M	-62M	-483M	-74M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-340M	-114M	-459M	-13M	0
EBT, Incl. Unusual Items	5.82B	10.88B	13.58B	19.84B	21.8B
Income Tax Expense	2B	3.08B	3.56B	5.41B	6.38B
Earnings From Continuing Operations	3.82B	7.81B	10.02B	14.42B	15.42B
Net Income to Company	3.82B	7.81B	10.02B	14.42B	15.42B
Minority Interest	-69M	-89M	-108M	-112M	-182M
Net Income - (IS)	3.75B	7.72B	9.91B	14.31B	15.24B
Net Income to Common Incl Extra Items	3.75B	7.72B	9.91B	14.31B	15.24B
Net Income to Common Excl. Extra Items	3.75B	7.72B	9.91B	14.31B	15.24B
Per Share Items
Net EPS - Basic	48.97	100.67	129.23	186.56	198.65
Basic EPS - Continuing Operations	48.97	100.67	129.23	186.56	198.65
Basic Weighted Average Shares Outstanding	76.54M	76.65M	76.68M	76.71M	76.73M
Net EPS - Diluted	48.97	100.67	129.23	186.56	198.65
Diluted EPS - Continuing Operations	48.97	100.67	129.23	186.56	198.65
Diluted Weighted Average Shares Outstanding	76.54M	76.65M	76.68M	76.71M	76.73M
Normalized Basic EPS	48.3	88.34	113.01	155.69	171.55
Normalized Diluted EPS	48.3	88.34	113.01	155.69	171.55
Dividend Per Share	16.67	20	23.33	40	50
Payout Ratio	33.03	16.99	16.72	13.37	24.27
Supplemental Items
EBITDA	6.72B	12.74B	15.8B	20.6B	23.95B
EBITA	4.22B	10.26B	13.13B	17.38B	20.88B
EBIT	3.81B	9.87B	12.94B	17.28B	20.78B
Effective Tax Rate - (Ratio)	34.39	28.29	26.25	27.29	29.25
Normalized Net Income	3.7B	6.77B	8.67B	11.94B	13.16B
Non-Cash Pension Expense	-221M	-514M	-487M	-675M	-541M
Supplemental Operating Expense Items
Advertising Expense	7.67B	9.56B	10.58B	11.13B	11.88B
Selling and Marketing Expenses	14.83B	17.36B	19.21B	20.55B	21.73B
Research And Development Expense From Footnotes	2.62B	2.45B	2.75B	2.96B	2.99B

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	22.64B	24.43B	23.84B	31.96B	32.4B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	22.64B	24.43B	23.84B	31.96B	32.4B
Accounts Receivable, Total	34.66B	36.54B	47.5B	48.13B	50.02B
Total Receivables	34.66B	36.54B	47.5B	48.13B	50.02B
Inventory	35.86B	38.73B	55.39B	52.44B	58.12B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	4.99B	6.23B	6B	6.12B	6.88B
Total Current Assets	98.15B	106B	133B	139B	147B
Net Property Plant And Equipment	34.82B	36.19B	38.63B	37.17B	39.74B
Long-term Investments	13.66B	14.58B	17.04B	21.85B	23.53B
Goodwill	1.81B	1.13B	1.04B	979M	852M
Other Intangibles, Total	6.1B	6.08B	5.89B	5.47B	5.33B
Loans Receivable Long-Term	301M	312M	333M	351M	4M
Deferred Tax Assets Long-Term	2.29B	2.13B	1.86B	1.67B	1.59B
Other Long-Term Assets, Total	2M	1M	1M	1M	2M
Total Assets	157B	166B	198B	206B	218B
Liabilities
Accounts Payable, Total	24.19B	28.86B	35.49B	36.08B	30.74B
Accrued Expenses, Total	33M	134M	141M	143M	135M
Short-term Borrowings	4.87B	1.17B	9.11B	750M	2.06B
Current Portion of Long-Term Debt	3.5B	2.5B	2.33B	328M	3.83B
Current Income Taxes Payable	618M	2.68B	1.46B	3.7B	2.59B
Other Current Liabilities	2.9B	4.08B	4.73B	3.48B	3.23B
Total Current Liabilities	36.12B	39.42B	53.25B	44.48B	42.57B
Long-Term Debt	9.07B	6.95B	12.4B	11.59B	7.61B
Long-Term Leases	-	-	-	-	2.53B
Pension & Other Post Retirement Benefits	203M	205M	223M	249M	568M
Deferred Tax Liability Non Current	3.94B	3.36B	3.28B	3.92B	4.97B
Other Non Current Liabilities	3.64B	3.95B	4.1B	3.84B	3.11B
Total Liabilities	52.96B	53.89B	73.25B	64.09B	61.36B
Common Stock, Total	26.14B	26.14B	26.14B	26.14B	26.14B
Additional Paid In Capital	31.82B	31.83B	31.83B	31.85B	31.92B
Retained Earnings	43.78B	51.33B	59.58B	71.45B	83.12B
Treasury Stock	-1.9B	-1.89B	-1.87B	-1.86B	-1.86B
Comprehensive Income and Other	3.94B	4.57B	8.06B	13.88B	17.04B
Total Common Equity	104B	112B	124B	141B	156B
Minority Interest	393M	482M	539M	611M	772M
Total Equity	104B	112B	124B	142B	157B
Total Liabilities And Equity	157B	166B	198B	206B	218B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	76.64M	76.66M	76.69M	76.71M	76.74M
ECS Total Common Shares Outstanding	76.64M	76.66M	76.69M	76.71M	230M
Book Value / Share	1.35K	1.46K	1.61K	1.84K	679.14
Tangible Book Value	95.87B	105B	117B	135B	150B
Tangible Book Value Per Share	1.25K	1.37K	1.52K	1.76K	652.27
Total Debt	17.43B	10.63B	23.84B	12.66B	16.02B
Net Debt	-5.2B	-13.8B	-9M	-19.3B	-16.38B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-5B	-6.06B	-7.86B	-10.02B	-11.05B
Minority Interest, Total (Incl. Fin. Div)	393M	482M	539M	611M	772M
Inventories - Raw Materials, Total	2.79B	5.52B	6.75B	6.58B	6.7B
Inventories - Work In Process, Total	454M	532M	542M	749M	680M
Inventories - Finished Goods, Total	32.62B	32.68B	48.1B	45.12B	50.74B
Full Time Employees	3.86K	3.78K	3.42K	3.58K	3.65K
Accumulated Allowance for Doubtful Accounts (Supple)	484M	515M	526M	679M	702M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	5.82B	10.89B	13.58B	19.84B	21.8B
Depreciation & Amortization - CF	2.5B	2.48B	2.68B	3.22B	3.07B
Amortization of Goodwill and Intangible Assets - (CF)	412M	383M	182M	100M	103M
Depreciation & Amortization, Total	2.92B	2.86B	2.86B	3.32B	3.17B
(Gain) Loss From Sale Of Asset	-134M	238M	78M	-901M	15M
(Gain) Loss on Sale of Investments - (CF)	-	-295M	-58M	-53M	-465M
Other Operating Activities, Total	-111M	-1.3B	-4.5B	-3.18B	-6.56B
Change In Accounts Receivable	3.81B	-1.13B	-9.88B	387M	-197M
Change In Inventories	-317M	-1.76B	-15B	4.71B	-3.46B
Change In Accounts Payable	-1.5B	1.66B	4.59B	-1.5B	-6.04B
Change in Other Net Operating Assets	-1.7B	876M	280M	-1.22B	-1.26B
Cash from Operations	8.78B	12.04B	-8.05B	21.41B	7.01B
Capital Expenditure	-1.37B	-1.9B	-4.39B	-1.3B	-3.27B
Sale of Property, Plant, and Equipment	1.04B	236M	109M	2.14B	182M
Cash Acquisitions	316M	-32M	-	-100M	-195M
Sale (Purchase) of Intangible assets	-1.06B	-759M	-894M	-715M	-840M
Investment in Marketable and Equity Securities, Total	-143M	338M	141M	-298M	482M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	395M	286M
Other Investing Activities, Total	376M	-61M	585M	4M	-155M
Cash from Investing	-841M	-2.18B	-4.44B	131M	-3.51B
Short Term Debt Issued, Total	-	-	7.75B	-	549M
Long-Term Debt Issued, Total	3.5B	940M	7.91B	2B	-
Total Debt Issued	3.5B	940M	15.66B	2B	549M
Short Term Debt Repaid, Total	-3.04B	-4.02B	-	-8.72B	-
Long-Term Debt Repaid, Total	-1.38B	-4.05B	-2.68B	-4.98B	-478M
Total Debt Repaid	-4.42B	-8.07B	-2.68B	-13.7B	-478M
Issuance of Common Stock	149M	-	-	-	-
Repurchase of Common Stock	-2M	-3M	-5M	-12M	-20M
Common Dividends Paid	-1.24B	-1.31B	-1.66B	-1.91B	-3.7B
Common & Preferred Stock Dividends Paid	-1.24B	-1.31B	-1.66B	-1.91B	-3.7B
Other Financing Activities, Total	-292M	-328M	-304M	-381M	-366M
Cash from Financing	-2.31B	-8.77B	11.01B	-14.01B	-4.01B
Foreign Exchange Rate Adjustments	49M	704M	896M	582M	912M
Miscellaneous Cash Flow Adjustments	-1M	-2M	-	1M	44M
Net Change in Cash	5.68B	1.79B	-584M	8.12B	435M
Supplemental Items
Cash Interest Paid	174M	85M	147M	263M	119M
Cash Income Tax Paid (Refund)	1.27B	1.29B	4.5B	3.17B	6.56B
Levered Free Cash Flow	4.06B	8.33B	-15.74B	15.73B	-3.07B
Unlevered Free Cash Flow	4.16B	8.38B	-15.65B	15.89B	-3B
Change In Net Working Capital	-1.3B	-2.01B	21.32B	-3.78B	15.04B
Net Debt Issued / Repaid	-924M	-7.13B	12.98B	-11.7B	71M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.53	3.82	4.45	5.35	6.12
Return on Total Capital	2	5.04	5.97	7.13	7.92
Return On Equity %	3.75	7.21	8.46	10.83	10.31
Return on Common Equity	3.7	7.15	8.41	10.79	10.24
Margin Analysis
Gross Profit Margin %	40.29	41.43	38.21	39.59	41.01
SG&A Margin	36.36	34.46	30.9	30.81	31.07
EBITDA Margin %	4.47	7.37	7.45	8.97	9.97
EBITA Margin %	2.8	5.94	6.19	7.57	8.69
EBIT Margin %	2.53	5.72	6.1	7.52	8.65
Income From Continuing Operations Margin %	2.54	4.52	4.72	6.28	6.42
Net Income Margin %	2.49	4.47	4.67	6.23	6.34
Net Avail. For Common Margin %	2.49	4.47	4.67	6.23	6.34
Normalized Net Income Margin	2.46	3.92	4.09	5.2	5.48
Levered Free Cash Flow Margin	2.7	4.82	-7.42	6.85	-1.28
Unlevered Free Cash Flow Margin	2.77	4.85	-7.38	6.92	-1.25
Asset Turnover
Asset Turnover	0.97	1.07	1.17	1.14	1.13
Fixed Assets Turnover	4.27	4.87	5.67	6.06	6.25
Receivables Turnover (Average Receivables)	4.1	4.85	5.05	4.8	4.9
Inventory Turnover (Average Inventory)	2.52	2.71	2.78	2.57	2.56
Short Term Liquidity
Current Ratio	2.72	2.69	2.49	3.12	3.46
Quick Ratio	1.59	1.55	1.34	1.8	1.94
Operating Cash Flow to Current Liabilities	0.24	0.31	-0.15	0.48	0.16
Days Sales Outstanding (Average Receivables)	89.02	75.22	72.33	76.18	74.53
Days Outstanding Inventory (Average Inventory)	145	134.56	131.1	142.2	142.33
Average Days Payable Outstanding	102.57	93.06	79.52	96.43	82.7
Cash Conversion Cycle (Average Days)	131.45	116.72	123.9	121.96	134.16
Long Term Solvency
Total Debt/Equity	16.74	9.45	19.18	8.91	10.2
Total Debt / Total Capital	14.34	8.63	16.09	8.18	9.25
LT Debt/Equity	8.7	6.18	9.98	8.16	6.45
Long-Term Debt / Total Capital	7.46	5.65	8.37	7.49	5.86
Total Liabilities / Total Assets	33.71	32.4	37.08	31.09	28.08
EBIT / Interest Expense	22.66	117.55	82.98	67.76	171.72
EBITDA / Interest Expense	40.01	151.62	101.31	80.8	197.95
(EBITDA - Capex) / Interest Expense	31.84	129	73.2	75.7	170.89
Total Debt / EBITDA	2.59	0.83	1.51	0.61	0.67
Net Debt / EBITDA	-0.77	-1.08	-0	-0.94	-0.68
Total Debt / (EBITDA - Capex)	3.26	0.98	2.09	0.66	0.77
Net Debt / (EBITDA - Capex)	-0.97	-1.27	-0	-1	-0.79
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-11.38	14.84	22.75	8.33	4.62
Gross Profit, 1 Yr. Growth %	-12.22	18.11	13.2	12.25	8.37
EBITDA, 1 Yr. Growth %	-26.83	89.47	24.1	30.36	16.25
EBITA, 1 Yr. Growth %	-36.53	143.11	27.98	32.4	20.14
EBIT, 1 Yr. Growth %	-39.22	159.36	31.1	33.49	20.24
Earnings From Cont. Operations, 1 Yr. Growth %	-18.7	104.51	28.34	43.97	6.95
Net Income, 1 Yr. Growth %	-18.96	105.9	28.42	44.41	6.51
Normalized Net Income, 1 Yr. Growth %	-0.73	83.15	27.97	37.81	10.22
Diluted EPS Before Extra, 1 Yr. Growth %	-19.25	105.59	28.37	44.36	6.48
Accounts Receivable, 1 Yr. Growth %	-10.46	5.41	30.01	1.33	3.92
Inventory, 1 Yr. Growth %	1.03	8	43	-5.32	10.83
Net Property, Plant and Equip., 1 Yr. Growth %	-2.29	3.91	6.76	-3.8	6.93
Total Assets, 1 Yr. Growth %	1.79	5.87	18.74	4.37	5.98
Tangible Book Value, 1 Yr. Growth %	6	9.28	11.49	15.57	11.23
Common Equity, 1 Yr. Growth %	4.95	7.9	10.5	14.32	10.53
Cash From Operations, 1 Yr. Growth %	6.9	37.13	-166.83	-366.09	-67.28
Capital Expenditures, 1 Yr. Growth %	-33.54	38.38	130.84	-70.36	151.85
Levered Free Cash Flow, 1 Yr. Growth %	-20.97	105.35	-288.95	-199.92	-119.53
Unlevered Free Cash Flow, 1 Yr. Growth %	-21.02	101.43	-286.6	-201.56	-118.86
Dividend Per Share, 1 Yr. Growth %	0	20	16.67	71.43	25
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-8.1	0.88	18.73	15.32	6.46
Gross Profit, 2 Yr. CAGR %	-9.24	1.82	15.63	12.72	10.29
EBITDA, 2 Yr. CAGR %	-20.17	17.74	53.34	27.19	23.1
EBITA, 2 Yr. CAGR %	-27.44	24.22	76.39	30.17	26.12
EBIT, 2 Yr. CAGR %	-29.33	25.55	84.4	32.29	26.69
Earnings From Cont. Operations, 2 Yr. CAGR %	-20.81	28.94	62.01	35.93	24.09
Net Income, 2 Yr. CAGR %	-21	29.17	62.61	36.18	24.02
Normalized Net Income, 2 Yr. CAGR %	-11.69	34.84	53.1	32.8	23.25
Diluted EPS Before Extra, 2 Yr. CAGR %	-21.28	28.85	62.46	36.13	23.98
Accounts Receivable, 2 Yr. CAGR %	-8.75	-2.85	17.06	14.77	2.62
Inventory, 2 Yr. CAGR %	3.13	4.46	24.27	16.36	2.44
Net Property, Plant and Equip., 2 Yr. CAGR %	-0.33	0.77	5.33	1.34	1.43
Total Assets, 2 Yr. CAGR %	0.49	3.81	12.12	11.32	5.17
Tangible Book Value, 2 Yr. CAGR %	4.91	7.63	10.38	13.52	13.38
Common Equity, 2 Yr. CAGR %	3.94	6.42	9.19	12.39	12.41
Cash From Operations, 2 Yr. CAGR %	47.28	21.07	-4.27	33.35	-6.69
Capital Expenditures, 2 Yr. CAGR %	-20.44	-4.1	78.73	-17.28	-13.6
Levered Free Cash Flow, 2 Yr. CAGR %	19.95	27.39	96.98	37.4	-55.82
Unlevered Free Cash Flow, 2 Yr. CAGR %	17.47	26.13	93.88	37.66	-56.23
Dividend Per Share, 2 Yr. CAGR %	0	9.54	18.32	41.42	46.39
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-6.73	-1.01	7.7	15.16	11.64
Gross Profit, 3 Yr. CAGR %	-6.99	-0.91	5.48	14.49	11.25
EBITDA, 3 Yr. CAGR %	-15.99	6.48	19.82	45.26	23.43
EBITA, 3 Yr. CAGR %	-20.61	8.58	25.46	60.3	26.74
EBIT, 3 Yr. CAGR %	-22.07	9.01	27.37	65.57	28.15
Earnings From Cont. Operations, 3 Yr. CAGR %	-8.34	8.64	28.74	55.76	25.49
Net Income, 3 Yr. CAGR %	-8.41	8.72	28.92	56.3	25.47
Normalized Net Income, 3 Yr. CAGR %	-9.49	12.62	32.51	47.82	24.8
Diluted EPS Before Extra, 3 Yr. CAGR %	-8.7	8.41	28.69	56.19	25.43
Accounts Receivable, 3 Yr. CAGR %	-7.62	-4.25	7.06	11.56	11.04
Inventory, 3 Yr. CAGR %	3.04	4.73	15.98	13.5	14.49
Net Property, Plant and Equip., 3 Yr. CAGR %	0.39	1.06	2.73	2.19	3.17
Total Assets, 3 Yr. CAGR %	0.05	2.25	8.56	9.47	9.51
Tangible Book Value, 3 Yr. CAGR %	5.26	6.35	8.9	12.09	12.75
Common Equity, 3 Yr. CAGR %	4.21	5.25	7.76	10.87	11.77
Cash From Operations, 3 Yr. CAGR %	-8.07	43.82	-0.68	34.6	-16.51
Capital Expenditures, 3 Yr. CAGR %	-4.93	-4.32	28.52	-1.8	19.89
Levered Free Cash Flow, 3 Yr. CAGR %	-27.7	43.49	45.28	57.09	-28.29
Unlevered Free Cash Flow, 3 Yr. CAGR %	-27.49	40.6	43.72	56.29	-29.03
Dividend Per Share, 3 Yr. CAGR %	0	6.27	11.87	33.89	35.72
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-5.16	-1.75	2.72	5.22	7.2
Gross Profit, 5 Yr. CAGR %	-4.34	0.25	1.47	4.33	7.38
EBITDA, 5 Yr. CAGR %	0.87	21.61	6.87	14.33	21.12
EBITA, 5 Yr. CAGR %	4.65	41.16	9.26	16.75	25.73
EBIT, 5 Yr. CAGR %	5.08	46.89	9.98	17.78	27.1
Earnings From Cont. Operations, 5 Yr. CAGR %	11.79	58.03	15.11	18.83	26.86
Net Income, 5 Yr. CAGR %	12.44	61.15	15.23	18.97	26.94
Normalized Net Income, 5 Yr. CAGR %	17.73	50.64	11.69	20.3	28.72
Diluted EPS Before Extra, 5 Yr. CAGR %	12.18	60.79	14.97	18.75	26.79
Accounts Receivable, 5 Yr. CAGR %	-5.25	-3.23	1.56	2.95	5.26
Inventory, 5 Yr. CAGR %	-2.11	2.61	11.06	9.23	10.36
Net Property, Plant and Equip., 5 Yr. CAGR %	-1.71	0.82	2.34	1.18	2.2
Total Assets, 5 Yr. CAGR %	-1.56	1.31	4.71	5.79	7.19
Tangible Book Value, 5 Yr. CAGR %	4.19	6.04	7.28	9.16	10.67
Common Equity, 5 Yr. CAGR %	3.17	4.89	6.17	8.05	9.6
Cash From Operations, 5 Yr. CAGR %	38.2	5.46	-6.57	39.54	-3.13
Capital Expenditures, 5 Yr. CAGR %	-9.6	5.01	22.38	-9.73	9.65
Levered Free Cash Flow, 5 Yr. CAGR %	13.03	2.47	7.96	41.02	-9.76
Unlevered Free Cash Flow, 5 Yr. CAGR %	11.4	2.03	7.46	39.42	-10.68
Dividend Per Share, 5 Yr. CAGR %	0	3.71	6.96	19.14	24.57