Cash flow ORIX Corporation

Equities

8591

JP3200450009

Consumer Lending

Market Closed - Japan Exchange Other stock markets 01:30:00 2025-01-24 am EST			5-day change	1st Jan Change
3,272.00 ^JPY	-1.51%		+1.90%	-3.99%

Jan. 23	Certain Shares of Liberaware Co., Ltd. are subject to a Lock-Up Agreement Ending on 24-JAN-2025.	CI
Jan. 22	Orix's Stake Sale in Greenko Energy to Provide Additional Capital, S&P Says	MT

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Published financial data: ORIX CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	1,981B	1,975B	2,184B	2,316B	2,433B
Gain (Loss) on Sale of Investment, Total (Rev)	21.07B	44.63B	56.6B	32.94B	33.78B
Interest And Invest. Income (Rev)	253B	251B	261B	101B	114B
Other Revenues, Total	25B	21.67B	18.9B	216B	234B
Total Revenues	2,280B	2,293B	2,520B	2,666B	2,814B
Cost of Goods Sold, Total	1,405B	1,456B	1,575B	1,652B	1,640B
Gross Profit	875B	837B	946B	1,014B	1,174B
Selling General & Admin Expenses, Total	477B	474B	523B	559B	628B
Other Operating Expenses	13.4B	16.26B	-5.44B	11.75B	-5.7B
Other Operating Expenses, Total	490B	490B	517B	571B	622B
Operating Income	385B	347B	428B	443B	552B
Interest Expense, Total	-98.98B	-78.08B	-68.25B	-128B	-188B
Net Interest Expenses	-98.98B	-78.08B	-68.25B	-128B	-188B
Income (Loss) On Equity Invest.	67.92B	481M	15.01B	25.09B	36.77B
Currency Exchange Gains (Loss)	-1.68B	1.8B	-3.35B	-1.96B	-1.13B
Other Non Operating Income (Expenses)	-	-	4.45B	4.54B	-
EBT, Excl. Unusual Items	353B	271B	376B	343B	400B
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-1.51B	-562M	-	-
Gain (Loss) On Sale Of Investments	-11.97B	-5.94B	-751M	-803M	-315M
Gain (Loss) On Sale Of Assets	74B	23.3B	188B	26.92B	72.49B
Asset Writedown	-3.04B	-4.17B	-57.66B	-2.81B	-1.72B
Other Unusual Items	955M	4.97B	-	1.17B	-
EBT, Incl. Unusual Items	413B	288B	505B	367B	470B
Income Tax Expense	106B	90.75B	187B	87.5B	131B
Earnings From Continuing Operations	307B	197B	318B	280B	339B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	307B	197B	318B	280B	339B
Minority Interest	-4.02B	-4.43B	-5.48B	-6.59B	7.54B
Net Income - (IS)	303B	192B	312B	273B	346B
Net Income to Common Incl Extra Items	303B	192B	312B	273B	346B
Net Income to Common Excl. Extra Items	303B	192B	312B	273B	346B
Per Share Items
Net EPS - Basic	237.38	155.54	259.37	231.35	298.55
Basic EPS - Continuing Operations	237.38	155.54	259.37	231.35	298.55
Basic Weighted Average Shares Outstanding	1.28B	1.24B	1.2B	1.18B	1.16B
Net EPS - Diluted	237.17	155.39	259.07	231.04	298.05
Diluted EPS - Continuing Operations	237.17	155.39	259.07	231.04	298.05
Diluted Weighted Average Shares Outstanding	1.28B	1.24B	1.2B	1.18B	1.16B
Normalized Basic EPS	169.67	133.3	190.76	175.87	221.89
Normalized Diluted EPS	169.52	133.18	190.53	175.63	221.52
Dividend Per Share	76	78	85.6	85.6	85.6
Payout Ratio	34.3	49.47	31.84	38.92	28.86
American Depositary Receipts Ratio (ADR)	0.62	0.62	0.62	0.62	0.62
Supplemental Items
EBITDA	690B	663B	759B	796B	916B
EBITA	418B	375B	460B	443B	591B
EBIT	385B	347B	428B	443B	552B
EBITDAR	732B	705B	808B	844B	966B
Total Revenues (As Reported)	2,280B	2,293B	2,520B	2,666B	2,814B
Effective Tax Rate - (Ratio)	25.65	31.56	37.09	23.83	27.96
Current Domestic Taxes	55.58B	45.26B	137B	30.81B	80.27B
Current Foreign Taxes	35.37B	19.97B	38.43B	27.49B	31.11B
Total Current Taxes	90.95B	65.23B	175B	58.3B	111B
Deferred Domestic Taxes	9.64B	10.64B	-631M	14.3B	9.05B
Deferred Foreign Taxes	5.25B	14.88B	12.84B	14.9B	10.95B
Total Deferred Taxes	14.89B	25.52B	12.21B	29.2B	20B
Normalized Net Income	216B	165B	230B	208B	257B
Interest Capitalized	622M	858M	-	-	-
Interest on Long-Term Debt	924M	989M	106M	150M	84M
Non-Cash Pension Expense	-3.98B	-2.45B	-4.21B	-5.01B	-4.82B
Supplemental Operating Expense Items
Advertising Expense	16.48B	17.31B	-	-	-
Selling and Marketing Expenses	16.48B	17.31B	-	-	-
Net Rental Expense, Total	42.32B	42.4B	49.63B	47.5B	49.66B
Imputed Operating Lease Interest Expense	7.14B	5.37B	5.31B	8.7B	11.99B
Imputed Operating Lease Depreciation	35.18B	37.03B	44.32B	38.8B	37.67B
Stock-Based Comp., Other (Total)	417M	885M	1.19B	937M	2.18B
Total Stock-Based Compensation	417M	885M	1.19B	937M	2.18B

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	983B	951B	955B	1,232B	1,033B
Short Term Investments	-	4.15B	4.2B	4.37B	2.03B
Trading Asset Securities, Total	7.43B	4.52B	12.07B	55.41B	19B
Total Cash And Short Term Investments	990B	960B	971B	1,292B	1,054B
Accounts Receivable, Total	5,107B	5,010B	5,256B	5,397B	5,525B
Other Receivables	18.21B	6.3B	5.21B	4.68B	2.79B
Total Receivables	5,125B	5,016B	5,261B	5,402B	5,528B
Inventory	126B	142B	140B	169B	227B
Restricted Cash	153B	128B	137B	135B	152B
Other Current Assets, Total	39.69B	20.83B	41.8B	19.16B	53.99B
Total Current Assets	6,433B	6,268B	6,550B	7,017B	7,016B
Gross Property Plant And Equipment	1,062B	1,053B	1,131B	1,228B	1,315B
Accumulated Depreciation	-174B	-201B	-221B	-255B	-290B
Net Property Plant And Equipment	888B	853B	910B	973B	1,025B
Long-term Investments	2,805B	3,296B	3,643B	3,788B	4,416B
Goodwill	444B	495B	489B	628B	632B
Other Intangibles, Total	462B	489B	474B	590B	613B
Deferred Tax Assets Long-Term	27.08B	38.95B	46.06B	48.29B	66.52B
Other Long-Term Assets, Total	2,009B	2,124B	2,159B	2,222B	2,554B
Total Assets	13,068B	13,563B	14,271B	15,266B	16,322B
Liabilities
Accounts Payable, Total	283B	261B	291B	367B	363B
Short-term Borrowings	17.82B	14.42B	40.06B	44.52B	134B
Current Portion of Long-Term Debt	1,022B	1,021B	1,161B	1,345B	1,325B
Current Portion of Leases	45.79B	48.8B	48.57B	54B	51.47B
Current Income Taxes Payable	28.2B	22.17B	115B	25.2B	65.53B
Other Current Liabilities	1,502B	1,178B	1,212B	1,279B	1,124B
Total Current Liabilities	2,899B	2,545B	2,868B	3,115B	3,062B
Long-Term Debt	3,621B	3,712B	3,674B	4,332B	4,745B
Long-Term Leases	224B	245B	234B	234B	209B
Unearned Revenue Non Current	32.8B	40.44B	32.98B	34.34B	32.83B
Pension & Other Post Retirement Benefits	18.84B	23.85B	15.46B	16.97B	17.5B
Deferred Tax Liability Non Current	328B	341B	346B	360B	505B
Other Non Current Liabilities	2,868B	3,552B	3,729B	3,746B	3,726B
Total Liabilities	9,991B	10,460B	10,899B	11,838B	12,297B
Common Stock, Total	221B	221B	221B	221B	221B
Additional Paid In Capital	258B	259B	260B	233B	233B
Retained Earnings	2,754B	2,745B	2,909B	3,032B	3,260B
Treasury Stock	-121B	-112B	-113B	-121B	-130B
Comprehensive Income and Other	-119B	-84.65B	-16.04B	-8.38B	357B
Total Common Equity	2,994B	3,028B	3,261B	3,357B	3,941B
Minority Interest	82.56B	74.69B	110B	71.66B	83.14B
Total Equity	3,076B	3,103B	3,371B	3,428B	4,025B
Total Liabilities And Equity	13,068B	13,563B	14,271B	15,266B	16,322B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.25B	1.22B	1.19B	1.17B	1.15B
ECS Total Common Shares Outstanding	1.25B	1.22B	1.19B	1.17B	1.15B
Book Value / Share	2.39K	2.49K	2.73K	2.87K	3.42K
Tangible Book Value	2,088B	2,044B	2,299B	2,138B	2,697B
Tangible Book Value Per Share	1.66K	1.68K	1.93K	1.83K	2.34K
Total Debt	4,930B	5,041B	5,158B	6,010B	6,464B
Net Debt	3,940B	4,081B	4,187B	4,718B	5,411B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-5.69B	-11.12B	-32.41B	-40.83B	-61.86B
Debt Equivalent Oper. Leases	339B	339B	397B	380B	397B
Minority Interest, Total (Incl. Fin. Div)	82.56B	74.69B	110B	71.66B	83.14B
Equity Method Investments, Total	892B	970B	1,069B	1,092B	1,314B
Account Code - Inventory Valuation	8	8	8	8	8
Inventories - Work In Process, Total	56.16B	57.5B	62.41B	74.62B	118B
Inventories - Finished Goods, Total	69.86B	84.65B	77.15B	94.4B	109B
Full Time Employees	31.23K	33.15K	32.24K	34.74K	33.81K
Accumulated Allowance for Doubtful Accounts (Supple)	56.84B	79.25B	70.37B	68.31B	61.24B

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	303B	192B	312B	273B	346B
Depreciation & Amortization - CF	272B	287B	298B	353B	325B
Amortization of Goodwill and Intangible Assets - (CF)	32.19B	28.75B	32.24B	-	39.21B
Depreciation & Amortization, Total	304B	316B	330B	353B	364B
(Gain) Loss From Sale Of Asset	-125B	-49.66B	-228B	-83.85B	-126B
(Gain) Loss on Sale of Investments - (CF)	-6.92B	-9.29B	-21.59B	-7.92B	-3.63B
Asset Writedown & Restructuring Costs	3.04B	3.02B	35.67B	2.3B	1.72B
Provision for Credit Losses	24.42B	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-65.76B	837M	-13.75B	-24.02B	-36.77B
Provision and Write-off of Bad Debts	-	16.02B	3.94B	7.76B	20.97B
Other Operating Activities, Total	485B	421B	371B	404B	448B
Change in Trading Asset Securities	63.68B	12.1B	68.42B	31.86B	-8.04B
Change In Accounts Receivable	12.35B	-12.66B	3.56B	12.95B	5.24B
Change In Inventories	11.94B	-12.06B	-7.05B	-17.53B	-58.13B
Change In Accounts Payable	-3.85B	-1.95B	14.94B	-12.17B	-4.43B
Change In Income Taxes	-33.32B	-11.04B	92.03B	-129B	108B
Change in Other Net Operating Assets	70.12B	231B	141B	102B	186B
Cash from Operations	1,042B	1,096B	1,103B	913B	1,243B
Capital Expenditure	-993B	-754B	-917B	-1,080B	-1,201B
Sale of Property, Plant, and Equipment	340B	139B	147B	233B	263B
Cash Acquisitions	-135B	-82.16B	-87.58B	-207B	-42.49B
Divestitures	91.84B	57.72B	253B	19.99B	140B
Investment in Marketable and Equity Securities, Total	-363B	-489B	-206B	-122B	-471B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-393B	-59.37B	-19.94B	51.17B	-73.15B
Other Investing Activities, Total	-17.71B	-15.77B	22.12B	5.72B	12.54B
Cash from Investing	-1,470B	-1,203B	-809B	-1,098B	-1,373B
Short Term Debt Issued, Total	16.18B	-	96.38B	20.41B	10.75B
Long-Term Debt Issued, Total	935B	1,171B	950B	1,826B	1,219B
Total Debt Issued	951B	1,171B	1,047B	1,846B	1,230B
Short Term Debt Repaid, Total	-	-42.14B	-	-	-
Long-Term Debt Repaid, Total	-833B	-1,031B	-1,168B	-1,159B	-1,178B
Total Debt Repaid	-833B	-1,074B	-1,168B	-1,159B	-1,178B
Repurchase of Common Stock	-45.72B	-55.44B	-50B	-52.07B	-50B
Common Dividends Paid	-104B	-95.16B	-99.4B	-106B	-99.9B
Common & Preferred Stock Dividends Paid	-104B	-95.16B	-99.4B	-106B	-99.9B
Other Financing Activities, Total	320B	92.71B	-35.74B	-90.86B	12.61B
Cash from Financing	289B	39.88B	-307B	438B	-85.48B
Foreign Exchange Rate Adjustments	-8.98B	11.98B	24.33B	22.18B	33.28B
Net Change in Cash	-148B	-55.71B	12.24B	275B	-182B
Supplemental Items
Cash Interest Paid	99.79B	80.31B	65.96B	118B	183B
Cash Income Tax Paid (Refund)	124B	76.29B	83.03B	187B	3.51B
Levered Free Cash Flow	473B	986B	656B	492B	305B
Unlevered Free Cash Flow	535B	1,035B	699B	572B	423B
Change In Net Working Capital	-982B	-1,255B	-1,017B	-1,021B	-912B
Net Debt Issued / Repaid	118B	97.78B	-121B	688B	51.82B

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	1.91	1.63	1.92	1.87	2.18
Return on Total Capital	3.11	2.68	3.21	3.08	3.43
Return On Equity %	10.16	6.37	9.81	8.23	8.86
Return on Common Equity	10.28	6.39	9.92	8.25	9.25
Margin Analysis
Gross Profit Margin %	38.39	36.51	37.52	38.03	41.72
SG&A Margin	20.9	20.68	20.74	20.98	22.3
EBITDA Margin %	30.24	28.9	30.1	29.86	32.56
EBITA Margin %	18.31	16.38	18.27	16.61	21.01
EBIT Margin %	16.9	15.12	16.99	16.61	19.62
Income From Continuing Operations Margin %	13.45	8.58	12.6	10.49	12.03
Net Income Margin %	13.27	8.39	12.38	10.24	12.3
Net Avail. For Common Margin %	13.27	8.39	12.38	10.24	12.3
Normalized Net Income Margin	9.49	7.19	9.11	7.79	9.14
Levered Free Cash Flow Margin	20.74	43.01	26.04	18.46	10.83
Unlevered Free Cash Flow Margin	23.46	45.14	27.73	21.46	15.01
Asset Turnover
Asset Turnover	0.18	0.17	0.18	0.18	0.18
Fixed Assets Turnover	3.17	2.63	2.86	2.83	2.82
Receivables Turnover (Average Receivables)	0.4	0.39	0.43	0.43	0.44
Inventory Turnover (Average Inventory)	11.62	10.86	11.18	10.71	8.28
Short Term Liquidity
Current Ratio	2.22	2.46	2.28	2.25	2.29
Quick Ratio	2.11	2.35	2.17	2.15	2.15
Operating Cash Flow to Current Liabilities	0.36	0.43	0.38	0.29	0.41
Days Sales Outstanding (Average Receivables)	905	934.64	857.73	839.32	823.44
Days Outstanding Inventory (Average Inventory)