Citizen Watch Income Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Revenue	332,281	316,885	312,830	301,366	281,417	206,641
Revenue Growth (YoY)	5.27%	1.30%	3.80%	7.09%	36.19%	-25.81%
Cost of Revenue	189,621	182,334	181,447	179,186	174,578	140,742
Gross Profit	142,660	134,551	131,383	122,180	106,839	65,899
Selling, General & Admin	106,499	103,240	95,816	88,473	74,712	65,444
Research & Development	5,671	5,671	5,807	5,693	5,542	5,576
Other Operating Expenses	-66	-66	69	40	87	2
Operating Expenses	117,254	113,995	106,527	98,491	84,573	75,626
Operating Income	25,406	20,556	24,856	23,689	22,266	-9,727
Interest Expense	-479	-353	-387	-297	-294	-415
Interest & Investment Income	2,261	2,550	2,656	2,414	1,645	1,385
Earnings From Equity Investments	1,579	940	1,361	1,248	813	440
Currency Exchange Gain (Loss)	2,288	-738	2,879	1,237	2,192	854
Other Non Operating Income (Expenses)	370	67	-555	805	718	3,321
EBT Excluding Unusual Items	31,425	23,022	30,810	29,096	27,340	-4,142
Merger & Restructuring Charges	-167	-266	-13	-	-	-
Gain (Loss) on Sale of Investments	5,871	7,562	554	1,530	94	232
Gain (Loss) on Sale of Assets	137	606	431	1,744	995	800
Asset Writedown	-1,404	-1,333	-2,236	-4,388	-1,167	-3,098
Other Unusual Items	-6,722	-58	-216	257	-570	-7,553
Pretax Income	29,140	29,533	29,330	28,239	26,692	-13,761
Income Tax Expense	5,389	5,728	6,524	7,210	4,266	11,677
Earnings From Continuing Operations	23,751	23,805	22,806	21,029	22,426	-25,438
Minority Interest in Earnings	141	71	152	807	-286	265
Net Income	23,892	23,876	22,958	21,836	22,140	-25,173
Net Income to Common	23,892	23,876	22,958	21,836	22,140	-25,173
Net Income Growth	-2.38%	4.00%	5.14%	-1.37%	-	-
Shares Outstanding (Basic)	244	244	245	290	310	313
Shares Outstanding (Diluted)	244	244	245	290	310	313
Shares Change (YoY)	0.03%	-0.58%	-15.47%	-6.45%	-0.78%	-0.46%
EPS (Basic)	97.95	97.91	93.60	75.25	71.38	-80.52
EPS (Diluted)	97.95	97.91	93.60	75.25	71.38	-80.52
EPS Growth	-2.41%	4.61%	24.39%	5.43%	-	-
Free Cash Flow	-	18,694	18,649	1,485	25,127	-1,751
Free Cash Flow Per Share	-	76.66	76.03	5.12	81.00	-5.60
Dividend Per Share	46.000	45.000	40.000	34.000	18.000	5.000
Dividend Growth	8.24%	12.50%	17.65%	88.89%	260.00%	-58.33%
Gross Margin	42.93%	42.46%	42.00%	40.54%	37.96%	31.89%
Operating Margin	7.65%	6.49%	7.95%	7.86%	7.91%	-4.71%
Profit Margin	7.19%	7.54%	7.34%	7.25%	7.87%	-12.18%
Free Cash Flow Margin	-	5.90%	5.96%	0.49%	8.93%	-0.85%
EBITDA	39,954	34,152	37,183	34,889	33,457	1,830
EBITDA Margin	12.02%	10.78%	11.89%	11.58%	11.89%	0.89%
D&A For EBITDA	14,548	13,596	12,327	11,200	11,191	11,557
EBIT	25,406	20,556	24,856	23,689	22,266	-9,727
EBIT Margin	7.65%	6.49%	7.95%	7.86%	7.91%	-4.71%
Effective Tax Rate	18.49%	19.39%	22.24%	25.53%	15.98%	-
Advertising Expenses	-	22,612	20,666	18,768	15,360	12,168

Source: S&P Global Market Intelligence. Standard template. Financial Sources.