Heiwa Paper Ratios and Metrics

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	May '26 May 28, 2026	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Market Capitalization	4,399	4,295	4,209	4,181	3,812	4,040
Market Cap Growth	9.41%	2.02%	0.68%	9.68%	-5.65%	2.70%
Enterprise Value	4,007	4,008	4,000	3,740	3,238	3,080
Last Close Price	465.00	454.00	433.51	419.51	372.35	376.96
PE Ratio	55.92	55.06	35.98	30.74	4.36	46.44
PS Ratio	0.28	0.27	0.26	0.26	0.24	0.26
PB Ratio	0.43	0.42	0.43	0.41	0.41	0.47
P/TBV Ratio	0.43	0.42	0.43	0.42	0.41	0.48
P/FCF Ratio	8.25	8.06	-	44.01	-	17.80
P/OCF Ratio	4.21	4.11	16.19	34.27	31.51	17.34
EV/Sales Ratio	0.25	0.25	0.25	0.23	0.20	0.20
EV/EBITDA Ratio	13.58	13.59	12.95	13.50	13.22	11.71
EV/EBIT Ratio	40.47	40.48	27.98	23.67	23.47	19.01
EV/FCF Ratio	7.52	7.52	-	39.37	-	13.57
Debt / Equity Ratio	0.18	0.18	0.25	0.24	0.26	0.25
Debt / EBITDA Ratio	6.21	6.21	7.91	8.89	9.84	8.19
Debt / FCF Ratio	3.44	3.44	-	25.92	-	9.49
Net Debt / Equity Ratio	-0.04	-0.04	-0.02	-0.04	-0.07	-0.14
Net Debt / EBITDA Ratio	-1.33	-1.33	-0.74	-1.36	-2.70	-4.42
Net Debt / FCF Ratio	-0.73	-0.73	0.86	-3.97	0.58	-5.12
Asset Turnover	0.88	0.88	0.87	0.89	0.96	0.99
Inventory Turnover	3.27	3.27	3.24	3.23	3.34	3.50
Quick Ratio	1.05	1.05	1.08	1.13	1.11	1.24
Current Ratio	1.64	1.64	1.65	1.65	1.65	1.79
Return on Equity (ROE)	0.77%	0.77%	1.17%	1.39%	9.74%	1.01%
Return on Assets (ROA)	0.35%	0.35%	0.49%	0.54%	0.52%	0.64%
Return on Invested Capital (ROIC)	0.56%	0.56%	0.90%	1.06%	1.17%	1.28%
Return on Capital Employed (ROCE)	0.90%	0.90%	1.30%	1.40%	1.40%	1.80%
Earnings Yield	1.77%	1.82%	2.78%	3.25%	22.93%	2.15%
FCF Yield	12.12%	12.41%	-6.30%	2.27%	-29.77%	5.62%
Dividend Yield	2.57%	-	2.77%	2.86%	2.95%	2.65%
Payout Ratio	144.87%	144.87%	96.58%	83.09%	10.98%	110.34%
Buyback Yield / Dilution	0.83%	0.83%	-	1.20%	0.71%	-
Total Shareholder Return	3.41%	0.83%	2.77%	4.06%	3.67%	2.65%

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