Valor Holdings Income Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	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
Operating Revenue	896,199	827,543	782,601	735,385	708,484
Other Revenue	27,914	26,892	25,194	24,591	24,034
Revenue	924,113	854,435	807,795	759,976	732,518
Revenue Growth (YoY)	8.15%	5.77%	6.29%	3.75%	0.32%
Cost of Revenue	650,334	605,662	573,352	539,963	520,255
Gross Profit	273,779	248,773	234,443	220,013	212,263
Selling, General & Admin	218,384	200,830	187,944	179,016	170,745
Amortization of Goodwill & Intangibles	1,047	695	690	711	652
Other Operating Expenses	2,812	2,626	2,024	1,748	1,587
Operating Expenses	246,198	225,581	211,599	199,951	191,057
Operating Income	27,581	23,192	22,844	20,062	21,206
Interest Expense	-1,456	-966	-730	-746	-764
Interest & Investment Income	479	432	393	316	316
Earnings From Equity Investments	37	61	-70	57	85
Other Non Operating Income (Expenses)	3,377	3,459	3,167	3,359	3,296
EBT Excluding Unusual Items	30,018	26,178	25,604	23,048	24,139
Gain (Loss) on Sale of Investments	98	72	18	203	-5
Gain (Loss) on Sale of Assets	-12	19	637	19	42
Asset Writedown	-3,778	-3,717	-5,101	-6,314	-3,915
Other Unusual Items	-28	-118	103	374	395
Pretax Income	26,298	22,434	21,261	17,330	20,656
Income Tax Expense	8,346	7,582	8,237	8,055	9,407
Earnings From Continuing Operations	17,952	14,852	13,024	9,275	11,249
Minority Interest in Earnings	-1,476	-1,198	-1,079	-1,672	-2,235
Net Income	16,476	13,654	11,945	7,603	9,014
Net Income to Common	16,476	13,654	11,945	7,603	9,014
Net Income Growth	20.67%	14.31%	57.11%	-15.65%	-28.42%
Shares Outstanding (Basic)	53	53	54	54	54
Shares Outstanding (Diluted)	53	53	54	54	54
Shares Change (YoY)	-0.61%	-1.05%	-0.24%	-0.02%	0.01%
EPS (Basic)	312.80	257.63	223.01	141.61	167.86
EPS (Diluted)	312.78	257.61	222.99	141.59	167.82
EPS Growth	21.41%	15.53%	57.49%	-15.63%	-28.41%
Free Cash Flow	10,676	5,099	15,043	13,052	22
Free Cash Flow Per Share	202.67	96.21	280.85	243.09	0.41
Dividend Per Share	-	68.000	65.000	58.000	56.000
Dividend Growth	-	4.61%	12.07%	3.57%	3.70%
Gross Margin	29.63%	29.12%	29.02%	28.95%	28.98%
Operating Margin	2.99%	2.71%	2.83%	2.64%	2.90%
Profit Margin	1.78%	1.60%	1.48%	1.00%	1.23%
Free Cash Flow Margin	1.16%	0.60%	1.86%	1.72%	0.00%
EBITDA	54,722	47,046	45,285	41,464	42,086
EBITDA Margin	5.92%	5.51%	5.61%	5.46%	5.75%
D&A For EBITDA	27,141	23,854	22,441	21,402	20,880
EBIT	27,581	23,192	22,844	20,062	21,206
EBIT Margin	2.99%	2.71%	2.83%	2.64%	2.90%
Effective Tax Rate	31.74%	33.80%	38.74%	46.48%	45.54%
Advertising Expenses	4,575	4,597	4,669	4,697	5,080