Apple International Co Ltd

Apple International Co Ltd maintains a debt-to-equity ratio of 0.79, indicating a moderate reliance on debt financing, and a current ratio of 2.41, suggesting sufficient short-term liquidity to cover its obligations. However, the company's operating cash flow is negative at -70.73 million JPY, which contrasts with a free cash flow of 649.89 million JPY, indicating that capital expenditures are being offset by operational cash generation [doc:2788.T-2026-04-15]. The company's profitability is reflected in a return on equity (ROE) of 7.67% and a return on assets (ROA) of 3.84%, both of which are below the industry median for Auto & Truck Manufacturers. The operating margin of 1.37% (calculated from operating income of 557.03 million JPY on revenue of 40.81 billion JPY) is also below the industry median, suggesting that the company is underperforming in terms of operational efficiency [doc:2788.T-2026-04-15]. The company's revenue is concentrated in the secondhand automobile export business, which accounts for the majority of its operations. There is no disclosed geographic breakdown of revenue, but the company operates in both domestic and international markets. The lack of segment or geographic diversification could pose a concentration risk if demand in a key market declines [doc:2788.T-2026-04-15]. Looking ahead, the company is projected to see a 12.3% increase in revenue for the current fiscal year and a 9.8% increase for the next fiscal year. These growth rates are in line with the industry's average, but the company's ability to sustain this growth will depend on its capacity to expand its export markets and manage operational costs [doc:2788.T-2026-04-15]. The risk assessment indicates a medium liquidity risk and a low dilution risk. The company's net cash position is negative after subtracting total debt, which could limit its financial flexibility. However, the low dilution risk suggests that the company is not expected to issue additional shares in the near term, preserving shareholder value [doc:2788.T-2026-04-15]. Recent events include the company's latest financial results, which show a net income of 787.81 million JPY and a revenue of 40.81 billion JPY. These figures align with analyst estimates, indicating that the company is meeting market expectations. No significant regulatory or legal events were reported in the latest filings [doc:2788.T-2026-04-15].