Adjuvant Holdings Co Ltd

Adjuvant Holdings Co Ltd maintains a strong liquidity position, with a current ratio of 5.33, indicating the company can easily cover its short-term liabilities with its current assets. The company holds JPY 2,076,694,000 in cash and equivalents, which is a significant portion of its total assets of JPY 5,266,897,000. The absence of long-term debt further supports its liquidity profile, with a debt-to-equity ratio of 0.0.

The company's profitability is modest, with a return on equity (ROE) of 0.33% and a return on assets (ROA) of 0.26%. These figures are below the typical thresholds for strong performance in the personal care products industry, suggesting that the company is not generating significant returns relative to its equity or asset base.

Geographically and segment-wise, the company's exposure is not disclosed in the available data, but its revenue concentration is not specified. The lack of segmental or geographic breakdown limits the ability to assess diversification risks or growth opportunities.

The company's growth trajectory is not clearly defined in the available data. While the most recent revenue is reported at JPY 1,062,896,000, there is no historical data provided to assess year-over-year growth or future projections. The absence of analyst estimates for future revenue or earnings also limits the ability to forecast performance.

Risk factors for the company are currently low, with no immediate liquidity or dilution flags detected. The company has no long-term debt and a low dilution risk, with basic and diluted shares outstanding being equal at 8,000,395. No adjustments were applied to the valuation metrics, indicating that the financials are presented without material adjustments.

Recent events or filings are not disclosed in the available data, and there are no transcripts or other public disclosures provided to assess management commentary or strategic direction. The lack of recent events or filings suggests a stable but potentially uneventful operating environment.

Net income surged 251.1% year-over-year to JPY 143 million in FY2026, demonstrating strong bottom-line recovery.

Free cash flow improved by 132.6% to JPY 93 million in FY2026, indicating enhanced operational cash generation.

Operating income grew 38.8% to JPY 171 million in FY2026, signaling improved core business profitability.

The company maintains a zero debt-to-equity ratio, placing it in the top quartile for financial leverage safety.

Long-term debt decreased to JPY 21.7 million in FY2026, reducing financial obligations and interest burden.

Operating margin of 0.18% falls significantly below the 5.17% median for the Personal Products cohort.

Revenue has contracted at a 3.7% CAGR over four years, highlighting a long-term structural decline.

Revenue ¥691.7M, −18,4% YoY; Operating income −23,7% YoY.

• ▍Revenue ¥691.7M, −18,4% YoY
• ▍Operating income −23,7% YoY
• ▍Net income +10,6% YoY
• ▍Net margin -8.5%

Revenue ¥1.27B, +8,1% YoY; Operating income +100,0% YoY.

• ▍Revenue ¥1.27B, +8,1% YoY
• ▍Operating income +100,0% YoY
• ▍Net income +110,8% YoY
• ▍Net margin 14.7%

Revenue ¥897.9M, −11,7% YoY; Operating income −121,4% YoY.

• ▍Revenue ¥897.9M, −11,7% YoY
• ▍Operating income −121,4% YoY
• ▍Net income −0,3% YoY
• ▍Net margin 0.5%

Revenue ¥958.1M, −9,9% YoY; Operating income −639,1% YoY.

• ▍Revenue ¥958.1M, −9,9% YoY
• ▍Operating income −639,1% YoY
• ▍Net income −16,6% YoY
• ▍Net margin 1.2%

Revenue ¥847.3M; Operating income -¥75.2M.

• ▍Revenue ¥847.3M
• ▍Operating income -¥75.2M
• ▍Net margin -7.7%

Revenue ¥1.17B; Operating income ¥142.8M.

• ▍Revenue ¥1.17B
• ▍Operating income ¥142.8M
• ▍Net margin 7.5%

Revenue ¥1.02B; Operating income ¥53.4M.

• ▍Revenue ¥1.02B
• ▍Operating income ¥53.4M
• ▍Net margin 0.5%

Revenue ¥1.06B; Operating income ¥1.9M.

• ▍Revenue ¥1.06B
• ▍Operating income ¥1.9M
• ▍Net margin 1.3%

Revenue ¥3.81B, −6,9% YoY; Operating income +38,8% YoY.

• ▍Revenue ¥3.81B, −6,9% YoY
• ▍Operating income +38,8% YoY
• ▍Net income +251,1% YoY
• ▍Free cash flow +132,6% YoY
• ▍Net margin 3.7%

Revenue ¥4.10B, −7,7% YoY; Operating income +21 371,1% YoY.

• ▍Revenue ¥4.10B, −7,7% YoY
• ▍Operating income +21 371,1% YoY
• ▍Net income +140,8% YoY
• ▍Free cash flow +117,5% YoY
• ▍Net margin 1.0%

Revenue ¥4.44B, +1,4% YoY; Operating income −100,2% YoY.

• ▍Revenue ¥4.44B, +1,4% YoY
• ▍Operating income −100,2% YoY
• ▍Net income −124,7% YoY
• ▍Free cash flow −205,0% YoY
• ▍Net margin -2.3%

Revenue ¥4.38B, −1,1% YoY; Operating income −40,2% YoY.

• ▍Revenue ¥4.38B, −1,1% YoY
• ▍Operating income −40,2% YoY
• ▍Net income +2,7% YoY
• ▍Free cash flow −17,1% YoY
• ▍Net margin 9.2%