Valor Holdings Income Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	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
Operating Revenue	874,028	827,543	782,601	735,385	708,484	706,331
Other Revenue	26,892	26,892	25,194	24,591	24,034	23,837
Revenue	900,920	854,435	807,795	759,976	732,518	730,168
Revenue Growth (YoY)	10.22%	5.77%	6.29%	3.75%	0.32%	7.68%
Cost of Revenue	634,501	605,662	573,352	539,963	520,255	519,555
Gross Profit	266,419	248,773	234,443	220,013	212,263	210,613
Selling, General & Admin	214,118	200,830	187,944	179,016	170,745	164,642
Amortization of Goodwill & Intangibles	695	695	690	711	652	434
Other Operating Expenses	2,254	2,626	2,024	1,748	1,587	3,601
Operating Expenses	238,259	225,581	211,599	199,951	191,057	184,964
Operating Income	28,160	23,192	22,844	20,062	21,206	25,649
Interest Expense	-1,340	-966	-730	-746	-764	-854
Interest & Investment Income	464	432	393	316	316	319
Earnings From Equity Investments	26	61	-70	57	85	19
Other Non Operating Income (Expenses)	3,203	3,459	3,167	3,359	3,296	3,263
EBT Excluding Unusual Items	30,513	26,178	25,604	23,048	24,139	28,396
Gain (Loss) on Sale of Investments	-198	72	18	203	-5	-79
Gain (Loss) on Sale of Assets	-12	19	637	19	42	23
Asset Writedown	-3,687	-3,717	-5,101	-6,314	-3,915	-3,327
Other Unusual Items	-27	-118	103	374	395	-470
Pretax Income	26,589	22,434	21,261	17,330	20,656	24,543
Income Tax Expense	8,897	7,582	8,237	8,055	9,407	9,083
Earnings From Continuing Operations	17,692	14,852	13,024	9,275	11,249	15,460
Minority Interest in Earnings	-1,414	-1,198	-1,079	-1,672	-2,235	-2,868
Net Income	16,278	13,654	11,945	7,603	9,014	12,592
Net Income to Common	16,278	13,654	11,945	7,603	9,014	12,592
Net Income Growth	29.91%	14.31%	57.11%	-15.65%	-28.42%	94.41%
Shares Outstanding (Basic)	53	53	54	54	54	54
Shares Outstanding (Diluted)	53	53	54	54	54	54
Shares Change (YoY)	-1.04%	-1.05%	-0.24%	-0.02%	0.01%	0.00%
EPS (Basic)	309.04	257.63	223.01	141.61	167.86	234.51
EPS (Diluted)	309.02	257.61	222.99	141.59	167.82	234.42
EPS Growth	31.27%	15.53%	57.49%	-15.63%	-28.41%	94.39%
Free Cash Flow	-	5,099	15,043	13,052	22	17,157
Free Cash Flow Per Share	-	96.21	280.85	243.09	0.41	319.53
Dividend Per Share	74.000	68.000	65.000	58.000	56.000	54.000
Dividend Growth	12.12%	4.61%	12.07%	3.57%	3.70%	3.85%
Gross Margin	-	29.12%	29.02%	28.95%	28.98%	28.84%
Operating Margin	3.13%	2.71%	2.83%	2.64%	2.90%	3.51%
Profit Margin	1.81%	1.60%	1.48%	1.00%	1.23%	1.73%
Free Cash Flow Margin	-	0.60%	1.86%	1.72%	0.00%	2.35%
EBITDA	53,074	47,046	45,285	41,464	42,086	44,317
EBITDA Margin	-	5.51%	5.61%	5.46%	5.75%	6.07%
D&A For EBITDA	24,914	23,854	22,441	21,402	20,880	18,668
EBIT	28,160	23,192	22,844	20,062	21,206	25,649
EBIT Margin	-	2.71%	2.83%	2.64%	2.90%	3.51%
Effective Tax Rate	-	33.80%	38.74%	46.48%	45.54%	37.01%
Advertising Expenses	-	4,597	4,669	4,697	5,080	5,842

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