ARE Holdings Ratios and Metrics

Market cap in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 4, 2026	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
Market Capitalization	306,900	151,771	148,075	154,973	178,127	166,681
Market Cap Growth	113.64%	2.50%	-4.45%	-13.00%	6.87%	87.18%
Enterprise Value	806,445	342,257	406,585	367,408	332,547	310,331
Last Close Price	4005.00	1926.90	1802.70	1801.74	1930.87	1733.15
PE Ratio	15.21	10.60	6.05	14.18	9.51	6.48
Forward PE	13.60	10.04	12.62	8.93	9.71	9.45
PS Ratio	0.59	0.30	0.46	0.53	0.93	1.01
PB Ratio	1.91	1.20	1.17	1.45	1.69	1.70
P/TBV Ratio	1.93	1.22	1.19	1.48	1.72	1.73
P/FCF Ratio	-	20.90	29.40	4.79	65.97	-
P/OCF Ratio	-	10.34	11.73	4.22	16.04	-
PEG Ratio	1.25	4.92	4.92	4.92	4.92	4.92
EV/Sales Ratio	1.56	0.68	1.26	1.26	1.73	1.88
EV/EBITDA Ratio	20.78	14.74	24.17	14.89	11.26	11.04
EV/EBIT Ratio	22.41	16.73	30.82	17.20	12.39	12.14
EV/FCF Ratio	-6.65	47.13	80.74	11.36	123.17	-
Debt / Equity Ratio	3.15	2.29	1.12	1.35	1.44	1.07
Debt / EBITDA Ratio	13.69	12.48	8.39	5.85	5.11	3.73
Debt / FCF Ratio	-	39.92	28.03	4.46	55.90	-
Net Debt / Equity Ratio	3.11	2.15	1.06	1.18	1.38	0.97
Net Debt / EBITDA Ratio	13.49	11.72	7.98	5.12	4.90	3.37
Net Debt / FCF Ratio	-4.12	37.50	26.66	3.91	53.63	-2.46
Asset Turnover	0.78	1.25	1.07	1.00	0.71	0.69
Inventory Turnover	5.97	11.22	8.05	5.05	2.49	2.61
Quick Ratio	0.95	1.03	1.44	1.38	1.09	0.95
Current Ratio	1.21	1.35	2.25	1.90	1.63	1.61
Return on Equity (ROE)	15.12%	11.32%	7.29%	10.31%	18.45%	30.79%
Return on Assets (ROA)	3.21%	3.17%	2.72%	4.56%	6.18%	6.73%
Return on Invested Capital (ROIC)	4.18%	4.34%	3.66%	6.02%	8.62%	13.76%
Return on Capital Employed (ROCE)	15.00%	11.40%	6.40%	13.20%	17.90%	20.40%
Earnings Yield	7.33%	9.44%	16.54%	7.05%	10.52%	15.43%
FCF Yield	-39.53%	4.78%	3.40%	20.87%	1.52%	-23.09%
Dividend Yield	3.25%	4.15%	4.99%	5.00%	4.66%	4.90%
Payout Ratio	34.04%	45.46%	28.16%	63.98%	37.77%	22.94%
Buyback Yield / Dilution	0.13%	0.31%	0.74%	1.74%	-11.11%	-0.54%
Total Shareholder Return	3.10%	4.47%	5.73%	6.73%	-6.45%	4.37%

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