Income Statement Taiheiyo Cement Corporation

Stocks

5233

JP3449020001

Construction Materials

Market Closed - Japan Exchange Other stock markets 02:30:00 2026-06-11 am EDT			5-day change	1st Jan Change
4,075.00 ^JPY	-1.33%		-8.63%	+4.94%

Jun. 08	Taiheiyo Cement Completes California Asset Acquisition Through CalPortland	MT
May. 21	Doj says it requires Taiheiyo Cement, CalPortland to divest assets to proceed with deal	RE

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Published financial data: TAIHEIYO CEMENT CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	864B	708B	810B	886B	896B
Total Revenues	864B	708B	810B	886B	896B
Cost of Goods Sold, Total	673B	533B	668B	694B	679B
Gross Profit	191B	175B	141B	192B	217B
Selling General & Admin Expenses, Total	128B	129B	137B	136B	139B
Provision for Bad Debts	-278M	-12M	50M	60M	-93M
Amortization of Goodwill and Intangible Assets - (IS)	53M	54M	46M	-	-
Other Operating Expenses, Total	128B	129B	137B	136B	139B
Operating Income	63.61B	46.7B	4.46B	56.47B	77.75B
Interest Expense, Total	-3.5B	-2.2B	-2.75B	-3.59B	-4.3B
Interest And Investment Income	1.87B	2.19B	2.39B	4.04B	3.98B
Net Interest Expenses	-1.62B	-3M	-355M	451M	-319M
Income (Loss) On Equity Invest.	1.88B	1.91B	-2.77B	861M	-684M
Currency Exchange Gains (Loss)	1.04B	453M	-	2.65B	734M
Other Non Operating Income (Expenses)	834M	1.13B	-315M	-962M	-2.11B
EBT, Excl. Unusual Items	65.74B	50.19B	1.02B	59.47B	75.37B
Gain (Loss) On Sale Of Investments	3.46B	167M	859M	938M	1.93B
Gain (Loss) On Sale Of Assets	-2.25B	-915M	-4.2B	-3.39B	-1.82B
Asset Writedown	-969M	-2.41B	-6.06B	-1.33B	-3.84B
Other Unusual Items	-882M	-4.22B	-7.98B	2.34B	2.98B
EBT, Incl. Unusual Items	65.1B	42.82B	-16.37B	58.03B	74.62B
Income Tax Expense	15.46B	11.77B	17.87B	14.36B	15.81B
Earnings From Continuing Operations	49.65B	31.05B	-34.24B	43.68B	58.81B
Net Income to Company	49.65B	31.05B	-34.24B	43.68B	58.81B
Minority Interest	-2.85B	-2.08B	1.03B	-403M	-1.38B
Net Income - (IS)	46.8B	28.97B	-33.21B	43.27B	57.43B
Net Income to Common Incl Extra Items	46.8B	28.97B	-33.21B	43.27B	57.43B
Net Income to Common Excl. Extra Items	46.8B	28.97B	-33.21B	43.27B	57.43B
Per Share Items
Net EPS - Basic	387.79	245.8	-283.68	371.08	502.48
Basic EPS - Continuing Operations	387.79	245.8	-283.68	371.08	502.48
Basic Weighted Average Shares Outstanding	121M	118M	117M	117M	114M
Net EPS - Diluted	387.79	245.8	-283.68	371.08	502.48
Diluted EPS - Continuing Operations	387.79	245.8	-283.68	371.08	502.48
Diluted Weighted Average Shares Outstanding	121M	118M	117M	117M	114M
Normalized Basic EPS	316.86	248.51	14.24	315.29	400.07
Normalized Diluted EPS	316.86	248.51	14.24	315.29	400.07
Dividend Per Share	60	70	70	70	80
Payout Ratio	15.58	26.4	-24.71	18.98	15.11
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	116B	103B	68.92B	123B	139B
EBITA	63.66B	46.76B	4.5B	56.51B	77.79B
EBIT	63.61B	46.7B	4.46B	56.47B	77.75B
Effective Tax Rate - (Ratio)	23.74	27.49	-109.2	24.74	21.19
Normalized Net Income	38.24B	29.29B	1.67B	36.77B	45.72B
Non-Cash Pension Expense	921M	-874M	-1.26B	-371M	45M
Supplemental Operating Expense Items
Selling and Marketing Expenses	59.36B	59.5B	60.45B	55.91B	56.92B
Research And Development Expense From Footnotes	4.61B	5.28B	5.9B	5.66B	5.22B

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	73.07B	60.27B	79.84B	80.1B	74.99B
Total Cash And Short Term Investments	73.07B	60.27B	79.84B	80.1B	74.99B
Accounts Receivable, Total	161B	166B	183B	206B	180B
Notes Receivable	2.56B	1.92B	1.46B	1.34B	2.19B
Total Receivables	164B	168B	184B	208B	183B
Inventory	75.37B	94.19B	138B	123B	128B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	15.38B	17.94B	27.92B	19.28B	20.28B
Total Current Assets	327B	341B	430B	430B	406B
Net Property Plant And Equipment	540B	558B	620B	654B	739B
Long-term Investments	137B	165B	168B	204B	219B
Goodwill	159M	80M	101M	103M	64M
Other Intangibles, Total	28.03B	27.49B	39.66B	38.98B	46.95B
Loans Receivable Long-Term	1.54B	1.39B	2.38B	2.49B	2.46B
Deferred Tax Assets Long-Term	9.64B	11.08B	8.17B	8.6B	10.44B
Other Long-Term Assets, Total	2M	1M	1M	2M	-1M
Total Assets	1,044B	1,103B	1,269B	1,338B	1,424B
Liabilities
Accounts Payable, Total	81.34B	88.44B	95.78B	112B	89.93B
Accrued Expenses, Total	6.26B	6.25B	5.68B	6.5B	7.3B
Short-term Borrowings	104B	124B	177B	143B	161B
Current Portion of Long-Term Debt	10B	-	10B	-	15B
Current Income Taxes Payable	4.59B	4.2B	3.69B	5.45B	6.34B
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	99.1B	86.9B	94.07B	101B	108B
Total Current Liabilities	305B	310B	386B	368B	388B
Long-Term Debt	135B	147B	217B	228B	213B
Long-Term Leases	14.35B	13.48B	26.51B	24.8B	21.15B
Pension & Other Post Retirement Benefits	25.21B	23.21B	21.92B	23.55B	23.54B
Deferred Tax Liability Non Current	8.13B	10.02B	18.33B	22.04B	24.69B
Other Non Current Liabilities	50.32B	55.13B	70.55B	75.82B	76.64B
Total Liabilities	537B	558B	740B	742B	748B
Common Stock, Total	86.17B	86.17B	86.17B	86.17B	86.17B
Additional Paid In Capital	60.29B	49.73B	49.73B	50.05B	50.29B
Retained Earnings	366B	384B	343B	379B	417B
Treasury Stock	-26.11B	-13.77B	-13.74B	-17.94B	-22.13B
Comprehensive Income and Other	-15.02B	4.32B	29.91B	65.8B	110B
Total Common Equity	471B	511B	495B	563B	642B
Minority Interest	35.9B	34.18B	33.9B	33.17B	34.46B
Total Equity	507B	545B	529B	596B	676B
Total Liabilities And Equity	1,044B	1,103B	1,269B	1,338B	1,424B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	119M	117M	117M	116M	111M
ECS Total Common Shares Outstanding	119M	117M	117M	116M	111M
Book Value / Share	3.97K	4.36K	4.23K	4.87K	5.76K
Tangible Book Value	443B	483B	455B	524B	595B
Tangible Book Value Per Share	3.73K	4.13K	3.89K	4.53K	5.34K
Total Debt	262B	284B	430B	395B	411B
Net Debt	189B	224B	350B	315B	336B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.6B	22M	-2.32B	-15.9B	-26.38B
Minority Interest, Total (Incl. Fin. Div)	35.9B	34.18B	33.9B	33.17B	34.46B
Inventories - Raw Materials, Total	43.87B	58.5B	89.38B	72.37B	71.95B
Inventories - Work In Process, Total	2.08B	1.28B	1.53B	1.46B	1.52B
Inventories - Finished Goods, Total	29.42B	34.41B	47.46B	49.34B	54.37B
Full Time Employees	12.59K	12.54K	12.72K	12.54K	12.59K
Accumulated Allowance for Doubtful Accounts (Supple)	795M	307M	150M	198M	115M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	65.1B	42.82B	-16.37B	58.03B	74.62B
Depreciation & Amortization - CF	52.68B	56.01B	64.42B	66.3B	60.88B
Amortization of Goodwill and Intangible Assets - (CF)	53M	54M	46M	41M	40M
Depreciation & Amortization, Total	52.74B	56.06B	64.46B	66.34B	60.92B
(Gain) Loss From Sale Of Asset	3.22B	3.32B	10.26B	4.72B	5.66B
(Gain) Loss on Sale of Investments - (CF)	-3.46B	-167M	-859M	-938M	-1.93B
(Income) Loss On Equity Investments - (CF)	-1.88B	-1.91B	2.77B	-861M	684M
Other Operating Activities, Total	-10.02B	-11.58B	-7.42B	-13.06B	-15.92B
Change In Accounts Receivable	8.42B	-1.9B	-18.22B	-21.02B	29.71B
Change In Inventories	-122M	-15.71B	-37.16B	18.11B	126M
Change In Accounts Payable	-6.57B	5.68B	9.38B	15.15B	-24.05B
Change in Other Net Operating Assets	2.98B	-5.42B	-7.11B	14.06B	-11.94B
Cash from Operations	110B	71.19B	-268M	141B	118B
Capital Expenditure	-58.82B	-67.77B	-64B	-87.36B	-84.57B
Sale of Property, Plant, and Equipment	4.22B	6.46B	1.9B	2.24B	4.66B
Divestitures	6.32B	10M	355M	32M	-1.9B
Investment in Marketable and Equity Securities, Total	-3.08B	-22.93B	1.99B	1.93B	1.06B
Net (Increase) Decrease in Loans Originated / Sold - Investing	579M	308M	-582M	110M	-766M
Other Investing Activities, Total	2.98B	0	-33.01B	917M	-25.01B
Cash from Investing	-47.81B	-83.92B	-93.34B	-82.14B	-107B
Short Term Debt Issued, Total	-	21B	29.24B	-	14.52B
Long-Term Debt Issued, Total	51.18B	50.74B	144B	71.83B	62.46B
Total Debt Issued	51.18B	71.74B	174B	71.83B	76.97B
Short Term Debt Repaid, Total	-31.6B	-5.94B	-	-34.68B	-
Long-Term Debt Repaid, Total	-36.57B	-44.04B	-41.83B	-70.8B	-58.77B
Total Debt Repaid	-68.17B	-49.97B	-41.83B	-105B	-58.77B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-10.06B	-5.04B	-12M	-5.02B	-15.18B
Common Dividends Paid	-7.29B	-7.65B	-8.2B	-8.22B	-8.68B
Common & Preferred Stock Dividends Paid	-7.29B	-7.65B	-8.2B	-8.22B	-8.68B
Other Financing Activities, Total	-9.61B	-12.83B	-11.38B	-12.6B	-14.96B
Cash from Financing	-43.95B	-3.74B	112B	-59.48B	-20.61B
Foreign Exchange Rate Adjustments	-569M	2.86B	2.05B	1.35B	3.46B
Miscellaneous Cash Flow Adjustments	-2M	-	97M	38M	-
Net Change in Cash	18.07B	-13.61B	20.61B	317M	-5.81B
Supplemental Items
Cash Interest Paid	3.52B	2.2B	2.74B	3.6B	4.31B
Cash Income Tax Paid (Refund)	10.58B	12.19B	8.25B	13.92B	16.84B
Levered Free Cash Flow	54.39B	-15.42B	-55.32B	38.39B	28.38B
Unlevered Free Cash Flow	56.58B	-14.04B	-53.6B	40.63B	31.06B
Change In Net Working Capital	-22.91B	31.53B	56.86B	-26.36B	-6.12B
Net Debt Issued / Repaid	-16.99B	21.77B	132B	-33.64B	18.2B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.83	2.72	0.23	2.71	3.52
Return on Total Capital	5.21	3.65	0.31	3.62	4.68
Return On Equity %	10.13	5.91	-6.38	7.76	9.24
Return on Common Equity	10.31	5.9	-6.6	8.18	9.53
Margin Analysis
Gross Profit Margin %	22.14	24.76	17.44	21.69	24.22
SG&A Margin	14.8	18.16	16.88	15.31	15.56
EBITDA Margin %	13.47	14.51	8.51	13.86	15.47
EBITA Margin %	7.37	6.6	0.56	6.38	8.68
EBIT Margin %	7.36	6.59	0.55	6.37	8.67
Income From Continuing Operations Margin %	5.75	4.38	-4.23	4.93	6.56
Net Income Margin %	5.42	4.09	-4.1	4.88	6.41
Net Avail. For Common Margin %	5.42	4.09	-4.1	4.88	6.41
Normalized Net Income Margin	4.43	4.14	0.21	4.15	5.1
Levered Free Cash Flow Margin	6.3	-2.18	-6.83	4.33	3.17
Unlevered Free Cash Flow Margin	6.55	-1.98	-6.62	4.58	3.47
Asset Turnover
Asset Turnover	0.83	0.66	0.68	0.68	0.65
Fixed Assets Turnover	1.59	1.29	1.37	1.39	1.29
Receivables Turnover (Average Receivables)	5.2	4.33	4.64	4.55	4.63
Inventory Turnover (Average Inventory)	8.76	6.28	5.75	5.31	5.41
Short Term Liquidity
Current Ratio	1.07	1.1	1.12	1.17	1.04
Quick Ratio	0.77	0.73	0.68	0.78	0.66
Operating Cash Flow to Current Liabilities	0.36	0.23	-0	0.38	0.3
Days Sales Outstanding (Average Receivables)	70.18	84.31	78.69	80.36	78.76
Days Outstanding Inventory (Average Inventory)	41.69	58.08	63.51	68.96	67.45
Average Days Payable Outstanding	46.35	56.17	47.18	56.13	54.01
Cash Conversion Cycle (Average Days)	65.52	86.22	95.01	93.19	92.2
Long Term Solvency
Total Debt/Equity	51.78	52.14	81.31	66.28	60.76
Total Debt / Total Capital	34.12	34.27	44.84	39.86	37.8
LT Debt/Equity	29.38	29.38	46.03	42.31	34.66
Long-Term Debt / Total Capital	19.36	19.31	25.39	25.45	21.56
Total Liabilities / Total Assets	51.46	50.61	58.32	55.44	52.51
EBIT / Interest Expense	18.18	21.28	1.62	15.73	18.07
EBITDA / Interest Expense	33.26	46.82	25.1	34.22	32.23
(EBITDA - Capex) / Interest Expense	16.44	15.95	1.79	9.88	12.58
Total Debt / EBITDA	2.26	2.76	6.24	3.22	2.96
Net Debt / EBITDA	1.63	2.18	5.08	2.57	2.42
Total Debt / (EBITDA - Capex)	4.56	8.12	87.29	11.15	7.59
Net Debt / (EBITDA - Capex)	3.29	6.39	71.08	8.89	6.21
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-2.31	-18.02	14.31	9.48	1.13
Gross Profit, 1 Yr. Growth %	-1.93	-8.31	-19.48	36.11	12.94
EBITDA, 1 Yr. Growth %	5.81	-11.67	-32.93	78.19	12.91
EBITA, 1 Yr. Growth %	4.2	-26.56	-90.37	1.15K	37.65
EBIT, 1 Yr. Growth %	4.26	-26.58	-90.46	1.17K	37.68
Earnings From Cont. Operations, 1 Yr. Growth %	21.53	-37.46	-210.27	-227.56	34.66
Net Income, 1 Yr. Growth %	19.54	-38.1	-214.62	-230.31	32.71
Normalized Net Income, 1 Yr. Growth %	5.6	-23.41	-94.31	2.11K	24.36
Diluted EPS Before Extra, 1 Yr. Growth %	21.23	-36.62	-215.41	-230.81	35.41
Accounts Receivable, 1 Yr. Growth %	-6.01	3.27	9.98	12.89	-12.58
Inventory, 1 Yr. Growth %	-3.72	24.96	46.91	-10.98	3.79
Net Property, Plant and Equip., 1 Yr. Growth %	-0.77	3.24	11.16	5.46	12.97
Total Assets, 1 Yr. Growth %	1.09	5.63	15.04	5.47	6.38
Tangible Book Value, 1 Yr. Growth %	8.81	9.11	-5.77	15.14	13.46
Common Equity, 1 Yr. Growth %	7.84	8.43	-3.07	13.79	13.93
Cash From Operations, 1 Yr. Growth %	21.45	-35.52	-100.38	-52.54K	-16.13
Capital Expenditures, 1 Yr. Growth %	-11.7	15.2	-5.56	36.51	-3.2
Levered Free Cash Flow, 1 Yr. Growth %	221.72	-128.34	258.84	-169.39	-26.08
Unlevered Free Cash Flow, 1 Yr. Growth %	192.71	-124.82	281.67	-175.8	-23.54
Dividend Per Share, 1 Yr. Growth %	0	16.67	0	0	14.29
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-2.89	-10.51	-3.2	11.87	5.22
Gross Profit, 2 Yr. CAGR %	-3.03	-5.17	-14.08	4.69	23.99
EBITDA, 2 Yr. CAGR %	2.61	-3.33	-23.03	9.32	41.84
EBITA, 2 Yr. CAGR %	-2.16	-12.52	-73.4	9.94	315.63
EBIT, 2 Yr. CAGR %	-1.84	-12.51	-73.53	9.96	317.67
Earnings From Cont. Operations, 2 Yr. CAGR %	4.33	-12.82	-16.96	18.6	31.06
Net Income, 2 Yr. CAGR %	3.78	-13.98	-15.77	22.21	31.51
Normalized Net Income, 2 Yr. CAGR %	-0.63	-10.07	-79.12	12.04	423.73
Diluted EPS Before Extra, 2 Yr. CAGR %	5	-12.34	-14.47	22.87	33.09
Accounts Receivable, 2 Yr. CAGR %	-8.65	-1.48	6.57	11.43	-0.65
Inventory, 2 Yr. CAGR %	-0.88	9.69	35.49	14.36	-3.88
Net Property, Plant and Equip., 2 Yr. CAGR %	1.85	1.21	7.12	8.27	9.15
Total Assets, 2 Yr. CAGR %	0.47	3.34	10.23	10.15	5.93
Tangible Book Value, 2 Yr. CAGR %	7.4	8.96	1.4	4.17	14.3
Common Equity, 2 Yr. CAGR %	6.56	8.13	2.52	5.02	13.86
Cash From Operations, 2 Yr. CAGR %	6.53	-11.5	-95.07	40.51	2K
Capital Expenditures, 2 Yr. CAGR %	-4.62	0.86	4.3	13.54	14.95
Levered Free Cash Flow, 2 Yr. CAGR %	38.61	-4.51	0.85	57.8	-28.38
Unlevered Free Cash Flow, 2 Yr. CAGR %	35.42	-14.76	-2.66	70.09	-23.87
Dividend Per Share, 2 Yr. CAGR %	0	8.01	8.01	0	6.9
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-0.28	-8.22	-2.9	0.86	8.17
Gross Profit, 3 Yr. CAGR %	-2.46	-4.82	-10.2	0.16	7.37
EBITDA, 3 Yr. CAGR %	1.7	-2.39	-14.42	1.82	10.5
EBITA, 3 Yr. CAGR %	-1.49	-11.08	-58.07	-3.89	18.49
EBIT, 3 Yr. CAGR %	-0.25	-10.9	-58.2	-3.89	18.52
Earnings From Cont. Operations, 3 Yr. CAGR %	6.51	-12.03	-5.72	-4.18	23.73
Net Income, 3 Yr. CAGR %	6.7	-12.64	-5.34	-2.58	25.62
Normalized Net Income, 3 Yr. CAGR %	0.5	-8.89	-64.16	-1.3	16
Diluted EPS Before Extra, 3 Yr. CAGR %	7.59	-11.26	-3.93	-1.46	26.92
Accounts Receivable, 3 Yr. CAGR %	-5.73	-4.84	2.2	8.64	2.77
Inventory, 3 Yr. CAGR %	0.92	7.08	20.91	17.79	10.72
Net Property, Plant and Equip., 3 Yr. CAGR %	2.25	2.31	4.42	6.57	9.81
Total Assets, 3 Yr. CAGR %	0.72	2.16	7.1	8.62	8.88
Tangible Book Value, 3 Yr. CAGR %	6.92	7.96	3.81	5.79	7.17
Common Equity, 3 Yr. CAGR %	6.01	7.18	4.26	6.15	7.91
Cash From Operations, 3 Yr. CAGR %	0.84	-9.89	-85.66	8.38	18.3
Capital Expenditures, 3 Yr. CAGR %	3.73	1.58	-1.33	14.09	7.66
Levered Free Cash Flow, 3 Yr. CAGR %	6.14	-18.34	48.46	-10.97	22.55
Unlevered Free Cash Flow, 3 Yr. CAGR %	5.35	-23.07	40.5	-10.45	30.29
Dividend Per Share, 3 Yr. CAGR %	0	5.27	5.27	5.27	4.55
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.67	-2.37	-1.46	-0.66	0.27
Gross Profit, 5 Yr. CAGR %	-0.38	-2.46	-7.28	-1.13	2.17
EBITDA, 5 Yr. CAGR %	1.62	-1.39	-9.03	2.13	4.75
EBITA, 5 Yr. CAGR %	0.08	-6.59	-41.65	-3.2	4.95
EBIT, 5 Yr. CAGR %	1.03	-5.88	-41.33	-3.07	4.97
Earnings From Cont. Operations, 5 Yr. CAGR %	5.73	-8.17	-3.58	-0.87	7.56
Net Income, 5 Yr. CAGR %	5.15	-9.45	-2.93	-0.08	7.96
Normalized Net Income, 5 Yr. CAGR %	0.96	-4.78	-46.4	-1.04	4.77
Diluted EPS Before Extra, 5 Yr. CAGR %	5.53	-8.53	-1.85	1.08	9.45
Accounts Receivable, 5 Yr. CAGR %	0.06	-0.54	-0.99	1.36	1.05
Inventory, 5 Yr. CAGR %	0.02	4.39	13.54	9.93	10.31
Net Property, Plant and Equip., 5 Yr. CAGR %	2.07	2.33	4.17	4.65	6.29
Total Assets, 5 Yr. CAGR %	0.59	1.67	4.42	5.29	6.63
Tangible Book Value, 5 Yr. CAGR %	10.04	8.3	4.67	6.43	7.89
Common Equity, 5 Yr. CAGR %	8.15	7.13	4.6	6.31	8
Cash From Operations, 5 Yr. CAGR %	7.86	-5.49	-69.86	7.64	5.33
Capital Expenditures, 5 Yr. CAGR %	10.29	6	3.96	6.2	4.89
Levered Free Cash Flow, 5 Yr. CAGR %	0.88	-3.84	3.99	6.28	10.91
Unlevered Free Cash Flow, 5 Yr. CAGR %	0.16	-8.48	2.07	5.66	9.95
Dividend Per Share, 5 Yr. CAGR %	0	3.13	3.13	3.13	5.92