Japan Airlines Co., Ltd. (TYO:9201)

Japan Airlines Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Net Income	115,876	207,253	158,900	139,306	52,429	-246,617
Depreciation & Amortization	168,208	166,175	155,907	149,960	158,197	178,785
Loss (Gain) From Sale of Assets	-10,133	-13,415	-2,143	14,832	-7,386	-727
Loss (Gain) on Equity Investments	-2,030	-1,645	-939	-469	3,353	9,901
Other Operating Activities	62,320	-2,736	4,403	8,181	-1,902	522
Change in Accounts Receivable	-33,548	-35,371	-36,300	-583	-55,997	-26,844
Change in Inventory	-15,217	-10,102	-6,250	-6,686	-4,881	-2,421
Change in Accounts Payable	52,743	23,009	16,694	21,421	42,240	-4,713
Change in Other Net Operating Assets	-1,532	61,711	91,255	37,983	106,855	-11,431
Operating Cash Flow	411,706	394,879	381,527	363,945	292,908	-103,545
Operating Cash Flow Growth	15.48%	3.50%	4.83%	24.25%	-	-

Investing Activities

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Capital Expenditures	-215,085	-202,424	-289,983	-218,075	-117,488	-161,306
Sale of Property, Plant & Equipment	14,597	18,522	9,134	2,305	13,102	4,289
Cash Acquisitions	-	-7,722	-	-	-3,087	-4,968
Investment in Securities	-38,036	-	-	-	-	-
Other Investing Activities	12,905	8,048	-1,239	22,429	-996	-9,761
Investing Cash Flow	-225,406	-183,103	-281,107	-195,099	-112,766	-173,769

Financing Activities

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Short-Term Debt Issued	-	19,591	1,220	-	6,756	19
Long-Term Debt Issued	-	24,500	107,037	44,486	53,231	433,905
Total Debt Issued	30,681	44,091	108,257	44,486	59,987	433,924
Short-Term Debt Repaid	-	-	-	-7,385	-	-
Long-Term Debt Repaid	-	-65,682	-97,206	-80,819	-58,777	-40,259
Total Debt Repaid	-118,562	-65,682	-97,206	-88,204	-58,777	-40,259
Net Debt Issued (Repaid)	-87,881	-21,591	11,051	-43,718	1,210	393,665
Issuance of Common Stock	193,640	-	-	-	-	-
Repurchase of Common Stock	-20,000	-20,000	-	-	-	-
Common Dividends Paid	-47,707	-40,120	-37,060	-23,924	-2	-7
Other Financing Activities	-25,044	126,336	-38,901	-37,389	-39,673	-34,378
Financing Cash Flow	13,008	44,625	-64,910	-105,031	-38,465	359,280

Net Cash Flow

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Foreign Exchange Rate Adjustments	7,587	4,753	-347	10,805	3,344	3,926
Miscellaneous Cash Flow Adjustments	326	-	-1	-1	-	-1
Net Cash Flow	207,221	261,154	35,162	74,619	145,021	85,891

Free Cash Flow

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Free Cash Flow	196,621	192,455	91,544	145,870	175,420	-264,851
Free Cash Flow Growth	156.27%	110.23%	-37.24%	-16.84%	-	-
Free Cash Flow Margin	9.41%	9.56%	4.96%	8.83%	12.75%	-38.79%
Free Cash Flow Per Share	454.25	442.91	209.61	333.79	401.41	-606.06
Levered Free Cash Flow	134,629	90,606	32,986	64,518	208,897	-266,364
Unlevered Free Cash Flow	145,513	100,224	41,224	72,954	216,722	-261,576

Additional Metrics

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Cash Interest Paid	16,894	16,505	11,393	10,998	9,985	5,263
Cash Income Tax Paid	10,549	7,725	2,385	1,043	10,572	5,342
Change in Working Capital	77,465	39,247	65,399	52,135	88,217	-45,409

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 19, 2026

Data Sources Report a data error