Yamaha Corporation (YAMCF)

Yamaha Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Revenue	452,404	462,080	462,866	451,410	408,197	372,630
Revenue Growth (YoY)	-4.11%	-0.17%	2.54%	10.59%	9.54%	-10.04%
Cost of Revenue	285,585	285,939	291,784	280,270	253,476	229,720
Gross Profit	166,819	176,141	171,082	171,140	154,721	142,910
Selling, General & Admin	136,882	139,406	136,926	120,134	106,774	97,288
Other Operating Expenses	-11,177	-300	-7	68	-863	2,980
Operating Expenses	125,705	139,106	136,919	125,340	110,845	105,178
Operating Income	41,114	37,035	34,163	45,800	43,876	37,732
Interest Expense	-	-581	-561	-440	-386	-516
Interest & Investment Income	4,751	4,490	4,509	3,666	4,250	3,365
Currency Exchange Gain (Loss)	-1,320	-1,320	4,655	777	1,377	-778
Other Non Operating Income (Expenses)	-940	-940	-1	752	-545	953
EBT Excluding Unusual Items	43,605	38,684	42,765	50,555	48,572	40,756
Merger & Restructuring Charges	-14,276	-14,276	-4,831	-	-	-
Impairment of Goodwill	-1,204	-1,204	-	-	-	-
Gain (Loss) on Sale of Investments	116	116	26	65	163	-8
Gain (Loss) on Sale of Assets	356	356	-6	-6	4,597	-94
Asset Writedown	-1,215	-1,215	-326	-62	-322	-3,553
Pretax Income	27,382	22,461	37,628	50,552	53,010	37,101
Income Tax Expense	8,004	8,994	7,852	12,375	15,663	10,393
Earnings From Continuing Operations	19,378	13,467	29,776	38,177	37,347	26,708
Minority Interest in Earnings	-126	-116	-134	6	-92	-93
Net Income	19,252	13,351	29,642	38,183	37,255	26,615
Net Income to Common	19,252	13,351	29,642	38,183	37,255	26,615
Net Income Growth	-17.06%	-54.96%	-22.37%	2.49%	39.98%	-23.13%
Shares Outstanding (Basic)	456	484	506	515	520	527
Shares Outstanding (Diluted)	456	484	506	515	520	527
Shares Change (YoY)	-7.69%	-4.35%	-1.62%	-1.12%	-1.34%	-1.13%
EPS (Basic)	42.26	27.58	58.56	74.21	71.60	50.46
EPS (Diluted)	42.26	27.58	58.56	74.21	71.60	50.46
EPS Growth	-10.14%	-52.91%	-21.09%	3.65%	41.88%	-22.25%
Free Cash Flow	30,433	32,347	20,916	-35,567	21,486	45,653
Free Cash Flow Per Share	66.80	66.81	41.32	-69.13	41.29	86.56
Dividend Per Share	25.670	25.000	24.667	22.000	22.000	22.000
Dividend Growth	4.07%	1.35%	12.12%	-	-	-
Gross Margin	36.87%	38.12%	36.96%	37.91%	37.90%	38.35%
Operating Margin	9.09%	8.02%	7.38%	10.15%	10.75%	10.13%
Profit Margin	4.25%	2.89%	6.40%	8.46%	9.13%	7.14%
Free Cash Flow Margin	6.73%	7.00%	4.52%	-7.88%	5.26%	12.25%
EBITDA	55,502	52,513	49,026	65,070	61,190	54,788
EBITDA Margin	12.27%	11.36%	10.59%	14.41%	14.99%	14.70%
D&A For EBITDA	14,388	15,478	14,863	19,270	17,314	17,056
EBIT	41,114	37,035	34,163	45,800	43,876	37,732
EBIT Margin	9.09%	8.02%	7.38%	10.15%	10.75%	10.13%
Effective Tax Rate	29.23%	40.04%	20.87%	24.48%	29.55%	28.01%
Advertising Expenses	-	12,299	14,333	13,721	11,490	10,910

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