Balance Sheet Sekisui House, Ltd.

Equities

1928

JP3420600003

Homebuilding

Market Closed - Japan Exchange Other stock markets 01:30:00 2025-01-20 am EST			5-day change	1st Jan Change
3,588.00 ^JPY	+0.65%		-0.42%	-5.13%

Jan. 02	Frasers Property, City Developments' The Orie Project Set for Preview Opening	MT
Dec. 06	Nikkei Eases as US Benchmark Declines Set Tone Ahead of Labor Market Data	MT

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Published financial data: SEKISUI HOUSE, LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: January	2020	2021	2022	2023	2024
Revenues	2,415B	2,447B	2,590B	2,929B	3,107B
Total Revenues	2,415B	2,447B	2,590B	2,929B	3,107B
Cost of Goods Sold, Total	1,937B	1,973B	2,061B	2,345B	2,483B
Gross Profit	478B	474B	529B	584B	624B
Selling General & Admin Expenses, Total	273B	287B	299B	323B	353B
Provision for Bad Debts	118M	106M	98M	110M	-553M
Other Operating Expenses, Total	273B	287B	299B	323B	352B
Operating Income	205B	187B	230B	261B	272B
Interest Expense, Total	-4.92B	-2.77B	-3.84B	-5.32B	-12.37B
Interest And Investment Income	5.79B	4.94B	4.51B	4.38B	5.14B
Net Interest Expenses	872M	2.17B	672M	-937M	-7.23B
Income (Loss) On Equity Invest.	10.48B	619M	-1.24B	-2.09B	1.9B
Currency Exchange Gains (Loss)	716M	-3.58B	1.13B	-723M	4.29B
Other Non Operating Income (Expenses)	-3.42B	-1.04B	-636M	-472M	-1.67B
EBT, Excl. Unusual Items	214B	185B	230B	257B	269B
Gain (Loss) On Sale Of Investments	12.52B	3.09B	6.43B	17.09B	25.98B
Gain (Loss) On Sale Of Assets	-1.49B	-1.32B	-1.63B	-1.76B	-5.42B
Asset Writedown	-13.55B	-356M	-539M	-2.9B	-484M
Other Unusual Items	-1M	-617M	-20M	-1.99B	0
EBT, Incl. Unusual Items	211B	185B	234B	268B	289B
Income Tax Expense	62.85B	56.07B	70.32B	76.38B	81.43B
Earnings From Continuing Operations	149B	129B	164B	191B	208B
Net Income to Company	149B	129B	164B	191B	208B
Minority Interest	-7.27B	-5.88B	-10.11B	-6.81B	-5.2B
Net Income - (IS)	141B	124B	154B	185B	202B
Net Income to Common Incl Extra Items	141B	124B	154B	185B	202B
Net Income to Common Excl. Extra Items	141B	124B	154B	185B	202B
Per Share Items
Net EPS - Basic	205.79	181.18	227.37	276.58	309.29
Basic EPS - Continuing Operations	205.79	181.18	227.37	276.58	309.29
Basic Weighted Average Shares Outstanding	686M	682M	677M	667M	654M
Net EPS - Diluted	205.57	181.02	227.25	276.46	309.19
Diluted EPS - Continuing Operations	205.57	181.02	227.25	276.46	309.19
Diluted Weighted Average Shares Outstanding	687M	682M	677M	667M	654M
Normalized Basic EPS	184.17	160.66	197.52	230.81	248.95
Normalized Diluted EPS	183.98	160.52	197.41	230.71	248.87
Dividend Per Share	81	79	90	110	123
Payout Ratio	38.99	47.54	36.13	35.99	37.99
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	227B	208B	254B	288B	299B
EBITA	205B	187B	230B	261B	272B
EBIT	205B	187B	230B	261B	272B
Effective Tax Rate - (Ratio)	29.73	30.23	30.01	28.53	28.18
Normalized Net Income	126B	110B	134B	154B	163B
Non-Cash Pension Expense	-3.07B	4.2B	1.63B	-1.04B	-2.99B
Supplemental Operating Expense Items
Advertising Expense	54.96B	54.47B	55.93B	54.68B	58.86B
Selling and Marketing Expenses	54.96B	54.47B	55.93B	54.68B	58.86B
Research And Development Expense From Footnotes	7.31B	9.66B	9.48B	9.56B	9.05B

Fiscal Period: January	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	585B	600B	515B	333B	293B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	585B	600B	515B	333B	293B
Accounts Receivable, Total	133B	143B	131B	156B	175B
Total Receivables	133B	143B	131B	156B	175B
Inventory	1,005B	948B	1,204B	1,465B	1,894B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	93.38B	89.5B	102B	140B	135B
Total Current Assets	1,816B	1,781B	1,953B	2,094B	2,497B
Net Property Plant And Equipment	511B	535B	541B	555B	496B
Long-term Investments	222B	246B	260B	284B	295B
Goodwill	3.1B	1.58B	250M	31.41B	17.81B
Other Intangibles, Total	15.56B	18.15B	17.74B	19.71B	22.58B
Loans Receivable Long-Term	36.57B	18.95B	5.79B	5.64B	3.97B
Deferred Tax Assets Long-Term	31.01B	24.6B	24.09B	18.22B	20.24B
Other Long-Term Assets, Total	1M	1M	2M	2M	2M
Total Assets	2,635B	2,626B	2,801B	3,008B	3,353B
Liabilities
Accounts Payable, Total	220B	203B	208B	227B	237B
Accrued Expenses, Total	29.46B	27.36B	32.66B	37.52B	39.25B
Short-term Borrowings	166B	166B	219B	306B	440B
Current Portion of Long-Term Debt	33.69B	86.52B	16.24B	102B	21.63B
Current Income Taxes Payable	30.98B	29.7B	43.02B	34.64B	39.78B
Unearned Revenue Current, Total	242B	209B	208B	192B	210B
Other Current Liabilities	99.89B	115B	141B	146B	150B
Total Current Liabilities	822B	836B	868B	1,045B	1,138B
Long-Term Debt	379B	303B	307B	177B	289B
Pension & Other Post Retirement Benefits	50.52B	43.87B	31.6B	29.98B	31.42B
Deferred Tax Liability Non Current	2.18B	364M	464M	933M	6.11B
Other Non Current Liabilities	74.41B	74.32B	73.71B	87.07B	94.08B
Total Liabilities	1,328B	1,257B	1,280B	1,340B	1,559B
Common Stock, Total	203B	203B	203B	203B	203B
Additional Paid In Capital	259B	259B	259B	260B	260B
Retained Earnings	787B	840B	940B	1,056B	1,132B
Treasury Stock	-13.67B	-6.88B	-20.98B	-50.66B	-40.98B
Comprehensive Income and Other	32.3B	32.36B	93.38B	165B	200B
Total Common Equity	1,267B	1,327B	1,474B	1,633B	1,755B
Minority Interest	40.04B	41.84B	46.83B	34.58B	39.37B
Total Equity	1,307B	1,369B	1,521B	1,668B	1,794B
Total Liabilities And Equity	2,635B	2,626B	2,801B	3,008B	3,353B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	683M	681M	675M	662M	648M
ECS Total Common Shares Outstanding	683M	681M	675M	662M	648M
Book Value / Share	1.85K	1.95K	2.18K	2.47K	2.71K
Tangible Book Value	1,248B	1,307B	1,456B	1,582B	1,714B
Tangible Book Value Per Share	1.83K	1.92K	2.16K	2.39K	2.65K
Total Debt	579B	555B	542B	585B	751B
Net Debt	-5.53B	-45.08B	26.73B	252B	458B
Debt Equivalent of Unfunded Proj. Benefit Obligation	47.91B	41.63B	23.53B	-3.22B	-4.72B
Minority Interest, Total (Incl. Fin. Div)	40.04B	41.84B	46.83B	34.58B	39.37B
Inventories - Raw Materials, Total	98.3B	89.53B	154B	182B	238B
Inventories - Work In Process, Total	22.78B	20.54B	23.58B	24.78B	24.84B
Inventories - Finished Goods, Total	884B	838B	1,027B	1,258B	1,631B
Full Time Employees	27.4K	28.36K	28.82K	29.05K	29.93K
Accumulated Allowance for Doubtful Accounts (Supple)	1.19B	1.07B	1.18B	1.14B	1.03B
Order Backlog	1,408B	1,363B	1,513B	1,448B	1,552B

Fiscal Period: January	2020	2021	2022	2023	2024
Net Income	211B	185B	234B	268B	289B
Depreciation & Amortization - CF	21.52B	21.73B	24.07B	26.71B	27.74B
Depreciation & Amortization, Total	21.52B	21.73B	24.07B	26.71B	27.74B
(Gain) Loss From Sale Of Asset	13.55B	356M	539M	2.9B	484M
(Gain) Loss on Sale of Investments - (CF)	-3.92B	-3.09B	-3.34B	-274M	-16.2B
(Income) Loss On Equity Investments - (CF)	-10.48B	-619M	1.24B	2.09B	-1.9B
Other Operating Activities, Total	-66.7B	-59.05B	-61.79B	-88.92B	-69.37B
Change In Accounts Receivable	-18.18B	-10.25B	13.46B	-24.16B	-19.11B
Change In Inventories	162B	71.85B	-85.52B	-38.49B	-218B
Change In Accounts Payable	-13.52B	-14.67B	17.64B	8.28B	8.3B
Change in Other Net Operating Assets	68.44B	225M	-22.61B	-30.37B	14.78B
Cash from Operations	364B	192B	118B	125B	15.68B
Capital Expenditure	-66.62B	-87.49B	-82.95B	-92.16B	-76.94B
Sale of Property, Plant, and Equipment	413M	1.18B	727M	2.84B	437M
Cash Acquisitions	-	-	-35.7B	-69.6B	-14.54B
Divestitures	-	-	87M	-	2.88B
Investment in Marketable and Equity Securities, Total	-2.02B	-5.5B	-7.82B	-2.15B	19.5B
Net (Increase) Decrease in Loans Originated / Sold - Investing	5.97B	874M	9.48B	261M	2.59B
Other Investing Activities, Total	-2.98B	-4.57B	2.47B	-4.6B	-3.05B
Cash from Investing	-65.23B	-95.5B	-114B	-165B	-69.12B
Short Term Debt Issued, Total	-	8.97B	33.22B	37.36B	156B
Long-Term Debt Issued, Total	88.13B	28.67B	26.75B	66.29B	85.54B
Total Debt Issued	88.13B	37.63B	59.97B	104B	241B
Short Term Debt Repaid, Total	-70.52B	-	-	-	-
Long-Term Debt Repaid, Total	-82.35B	-47.35B	-94.17B	-142B	-116B
Total Debt Repaid	-153B	-47.35B	-94.17B	-142B	-116B
Repurchase of Common Stock	-10.01B	-5.01B	-15.02B	-30.01B	-40.02B
Common & Preferred Stock Dividends Paid	-55.08B	-58.73B	-55.61B	-66.4B	-76.86B
Common & Preferred Stock Dividends Paid	-55.08B	-58.73B	-55.61B	-66.4B	-76.86B
Other Financing Activities, Total	-18.32B	-4.16B	-6.88B	-21.25B	-2.44B
Cash from Financing	-148B	-77.61B	-112B	-156B	6.48B
Foreign Exchange Rate Adjustments	-3.96B	-1.92B	20.12B	13.3B	7.11B
Miscellaneous Cash Flow Adjustments	93.98B	-1M	2.19B	1M	-
Net Change in Cash	240B	16.94B	-85.06B	-182B	-39.85B
Supplemental Items
Cash Interest Paid	6.44B	3.57B	4.53B	6.81B	16.44B
Cash Income Tax Paid (Refund)	68.18B	58.5B	64.74B	94.49B	65.93B
Levered Free Cash Flow	264B	61.56B	-125B	-224B	-291B
Unlevered Free Cash Flow	267B	63.29B	-123B	-221B	-283B
Change In Net Working Capital	-184B	-12.48B	208B	319B	404B
Net Debt Issued / Repaid	-64.75B	-9.72B	-34.2B	-38.12B	126B

Fiscal Period: January	2020	2021	2022	2023	2024
Profitability
Return on Assets	5.08	4.43	5.3	5.63	5.34
Return on Total Capital	6.91	6.12	7.22	7.57	7.08
Return On Equity %	11.86	9.67	11.35	12	11.99
Return on Common Equity	11.53	9.53	10.99	11.88	11.94
Margin Analysis
Gross Profit Margin %	19.79	19.35	20.42	19.95	20.07
SG&A Margin	11.29	11.72	11.53	11.02	11.35
EBITDA Margin %	9.39	8.51	9.82	9.84	9.63
EBITA Margin %	8.5	7.62	8.89	8.93	8.74
EBIT Margin %	8.5	7.62	8.89	8.93	8.74
Income From Continuing Operations Margin %	6.15	5.29	6.33	6.53	6.68
Net Income Margin %	5.85	5.05	5.94	6.3	6.51
Net Avail. For Common Margin %	5.85	5.05	5.94	6.3	6.51
Normalized Net Income Margin	5.23	4.48	5.16	5.26	5.24
Levered Free Cash Flow Margin	10.92	2.52	-4.84	-7.64	-9.37
Unlevered Free Cash Flow Margin	11.04	2.59	-4.74	-7.53	-9.12
Asset Turnover
Asset Turnover	0.96	0.93	0.95	1.01	0.98
Fixed Assets Turnover	4.64	4.68	4.81	5.35	5.91
Receivables Turnover (Average Receivables)	27.78	17.73	18.87	20.39	18.75
Inventory Turnover (Average Inventory)	1.84	2.02	1.91	1.76	1.48
Short Term Liquidity
Current Ratio	2.21	2.13	2.25	2	2.19
Quick Ratio	0.87	0.89	0.74	0.47	0.41
Operating Cash Flow to Current Liabilities	0.44	0.23	0.14	0.12	0.01
Days Sales Outstanding (Average Receivables)	13.14	20.64	19.34	17.9	19.47
Days Outstanding Inventory (Average Inventory)	198.35	181.1	190.61	207.78	246.8
Average Days Payable Outstanding	36.36	40.34	32.32	30.44	29.08
Cash Conversion Cycle (Average Days)	175.13	161.41	177.63	195.24	237.18
Long Term Solvency
Total Debt/Equity	44.31	40.56	35.64	35.05	41.85
Total Debt / Total Capital	30.71	28.86	26.27	25.96	29.5
LT Debt/Equity	29	22.11	20.16	10.64	16.11
Long-Term Debt / Total Capital	20.09	15.73	14.86	7.88	11.36
Total Liabilities / Total Assets	50.4	47.87	45.7	44.55	46.49
EBIT / Interest Expense	41.76	67.36	60	49.18	21.95
EBITDA / Interest Expense	46.14	75.21	66.27	54.2	24.2
(EBITDA - Capex) / Interest Expense	32.58	43.61	44.65	36.87	17.98
Total Debt / EBITDA	2.55	2.67	2.13	2.03	2.51
Net Debt / EBITDA	-0.02	-0.22	0.11	0.87	1.53
Total Debt / (EBITDA - Capex)	3.62	4.6	3.16	2.98	3.38
Net Debt / (EBITDA - Capex)	-0.03	-0.37	0.16	1.28	2.06
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	11.8	1.31	5.83	13.1	6.09
Gross Profit, 1 Yr. Growth %	7.52	-0.95	11.69	10.48	6.75
EBITDA, 1 Yr. Growth %	7.28	-8.17	22.08	13.36	3.86
EBITA, 1 Yr. Growth %	8.47	-9.13	23.4	13.61	3.86
EBIT, 1 Yr. Growth %	8.47	-9.13	23.4	13.61	3.86
Earnings From Cont. Operations, 1 Yr. Growth %	14.59	-12.86	26.73	16.65	8.47
Net Income, 1 Yr. Growth %	9.86	-12.54	24.58	19.89	9.65
Normalized Net Income, 1 Yr. Growth %	4.51	-13.34	22.04	15.18	5.75
Diluted EPS Before Extra, 1 Yr. Growth %	10.35	-11.94	25.54	21.65	11.84
Accounts Receivable, 1 Yr. Growth %	223.39	7.82	-8.3	18.81	12.47
Inventory, 1 Yr. Growth %	-8.63	-5.72	27.09	21.61	29.28
Net Property, Plant and Equip., 1 Yr. Growth %	-3.74	4.86	0.99	2.56	-10.51
Total Assets, 1 Yr. Growth %	9.19	-0.34	6.68	7.37	11.48
Tangible Book Value, 1 Yr. Growth %	7.32	4.74	11.38	8.63	8.37
Common Equity, 1 Yr. Growth %	7.03	4.76	11.08	10.78	7.45