Vario Secure Income Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	May '25 May 31, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Revenue	2,700	2,668	2,640	2,634	2,567	2,545
Revenue Growth (YoY)	1.13%	1.03%	0.23%	2.63%	0.85%	1.27%
Cost of Revenue	1,324	1,300	1,177	1,244	969.41	984.89
Gross Profit	1,376	1,367	1,464	1,391	1,597	1,560
Selling, General & Admin	883.86	877.4	943.02	810.92	845.36	796.11
Other Operating Expenses	-1.01	-2.12	-0.17	-1.39	0.19	-0.13
Operating Expenses	882.85	875.29	942.85	809.53	845.54	795.98
Operating Income	493.3	492.13	520.79	581.3	751.78	764.32
Interest Expense	-14.57	-15.39	-11.64	-38.91	-50.26	-56.39
Interest & Investment Income	0.73	0.43	0.01	0.01	0	0.01
Other Non Operating Income (Expenses)	0	-	-	-0	-	-0
EBT Excluding Unusual Items	479.46	477.18	509.16	542.39	701.53	707.93
Pretax Income	479.46	477.18	509.16	542.39	701.53	707.93
Income Tax Expense	132.92	134.94	161.55	159.08	201.05	216.4
Net Income	346.54	342.23	347.6	383.32	500.48	491.53
Net Income to Common	346.54	342.23	347.6	383.32	500.48	491.53
Net Income Growth	-1.06%	-1.54%	-9.32%	-23.41%	1.82%	-1.35%
Shares Outstanding (Basic)	5	5	5	4	4	4
Shares Outstanding (Diluted)	5	5	5	4	4	4
Shares Change (YoY)	-0.42%	-0.68%	8.62%	6.78%	-0.70%	6.39%
EPS (Basic)	76.67	75.72	76.96	93.41	132.29	131.78
EPS (Diluted)	76.43	75.46	76.12	91.18	127.12	123.97
EPS Growth	-0.64%	-0.87%	-16.52%	-28.27%	2.54%	-7.28%
Free Cash Flow	357.83	298.96	348.72	496.04	477.36	509.42
Free Cash Flow Per Share	78.92	65.92	76.37	118.00	121.25	128.48
Dividend Per Share	-	-	-	40.500	40.440	39.440
Dividend Growth	-	-	-	0.15%	2.54%	-
Gross Margin	50.96%	51.26%	55.43%	52.80%	62.23%	61.30%
Operating Margin	18.27%	18.45%	19.72%	22.07%	29.29%	30.03%
Profit Margin	12.83%	12.83%	13.16%	14.55%	19.50%	19.31%
Free Cash Flow Margin	13.25%	11.21%	13.21%	18.83%	18.60%	20.02%
EBITDA	696.43	692.92	706.05	758.74	877.23	881.99
EBITDA Margin	25.79%	25.98%	26.74%	28.80%	34.18%	34.65%
D&A For EBITDA	203.13	200.79	185.26	177.44	125.45	117.67
EBIT	493.3	492.13	520.79	581.3	751.78	764.32
EBIT Margin	18.27%	18.45%	19.72%	22.07%	29.29%	30.03%
Effective Tax Rate	27.72%	28.28%	31.73%	29.33%	28.66%	30.57%

Updated May 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.