Headwaters Co.,Ltd (TYO:4011)

Headwaters Co.,Ltd Income Statement

Financials in millions JPY. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2017
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2017
Revenue	3,900	2,905	2,315	1,574	922.38
Revenue Growth (YoY)	34.25%	25.49%	47.08%	70.65%	11.05%
Cost of Revenue	2,167	1,666	1,460	929	584.97
Gross Profit	1,733	1,239	855	645	337.41
Selling, General & Admin	1,503	932	760	535	-
Other Operating Expenses	-	-	-	-	317.47
Operating Expenses	1,503	932	760	535	320.38
Operating Income	230	307	95	110	17.03
Interest Expense	-10	-	-	-	-0.85
Interest & Investment Income	2	-	-	-	-
Earnings From Equity Investments	-40	-	-	-	-
Currency Exchange Gain (Loss)	-1	-	-	-	-
Other Non Operating Income (Expenses)	4	4	2	-4	3.37
EBT Excluding Unusual Items	185	311	97	106	19.54
Asset Writedown	-58	49	-	-	-
Pretax Income	127	360	97	106	19.54
Income Tax Expense	52	87	27	31	2.34
Earnings From Continuing Operations	75	273	70	75	17.2
Net Income to Company	75	273	70	75	-
Minority Interest in Earnings	-18	-1	-	-	-
Net Income	57	272	70	75	17.2
Net Income to Common	57	272	70	75	17.2
Net Income Growth	-79.04%	288.57%	-6.67%	335.94%	-
Shares Outstanding (Basic)	4	4	4	4	-
Shares Outstanding (Diluted)	4	4	4	4	-
Shares Change (YoY)	-1.29%	0.29%	3.14%	-	-
EPS (Basic)	14.96	71.81	18.67	20.03	-
EPS (Diluted)	13.84	65.38	16.99	18.63	-
EPS Growth	-78.83%	284.81%	-8.79%	-	-
Free Cash Flow	-60	118	71	57	-
Free Cash Flow Per Share	-14.57	28.28	17.07	14.13	-
Gross Margin	44.44%	42.65%	36.93%	40.98%	36.58%
Operating Margin	5.90%	10.57%	4.10%	6.99%	1.85%
Profit Margin	1.46%	9.36%	3.02%	4.76%	1.86%
Free Cash Flow Margin	-1.54%	4.06%	3.07%	3.62%	-
EBITDA	265	327	110	121	19.93
EBITDA Margin	6.79%	11.26%	4.75%	7.69%	2.16%
D&A For EBITDA	35	20	15	11	-
EBIT	230	307	95	110	17.03
EBIT Margin	5.90%	10.57%	4.10%	6.99%	1.85%
Effective Tax Rate	40.95%	24.17%	27.83%	29.24%	-

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