Being Holdings Co Ltd

Being Holdings maintains a liquidity position with a current ratio of 1.24, indicating a moderate ability to meet short-term obligations. The company's debt-to-equity ratio of 1.25 suggests a relatively leveraged capital structure, with long-term debt amounting to 7.36 billion JPY against total equity of 5.89 billion JPY. Despite holding 4.5 billion JPY in cash and equivalents, the company's net cash position is negative after subtracting total debt, signaling potential liquidity constraints.

Profitability metrics show a return on equity of 2.99% and a return on assets of 1.02%, both below the industry median for ground freight and logistics firms. The company's operating income of 332 million JPY and net income of 176 million JPY reflect a narrow margin structure, with gross profit at 693 million JPY on total revenue of 6.93 billion JPY.

The company's revenue is not segmented by geographic region or product line in the available data, but the industry's exposure to global supply chain dynamics and regional trade flows is a known factor. Being Holdings' revenue concentration is not explicitly disclosed, but the logistics sector is inherently sensitive to macroeconomic and geopolitical shifts.

Outlook data indicates a modest growth trajectory, with revenue expected to increase from 6.93 billion JPY in the current fiscal year to 37.2 billion JPY in the next fiscal year, a significant jump of 436%. However, this projection should be interpreted with caution, as it may reflect a one-time or seasonal anomaly. Analysts have estimated a mean revenue of 37.2 billion JPY for the next fiscal year, compared to the actual revenue of 33.5 billion JPY in the current year.

Risk factors include a medium liquidity risk due to the negative net cash position and a leveraged capital structure. The company's dilution risk is assessed as low, with no significant dilution potential in the near term. However, the company's reliance on debt financing and the potential for interest rate volatility could impact future earnings.

Recent events include the publication of the latest financial results and analyst estimates, with the last actual EPS reported at 58.18 JPY, slightly below the mean estimate of 58.50 JPY. No major regulatory or operational events have been disclosed in the available data.

Revenue grew at a 13.7% CAGR over four years, demonstrating consistent top-line expansion for the logistics company.

Net income increased at a 13.3% CAGR over four years, indicating strong profitability growth alongside revenue expansion.

Operating margin of 4.79% matches the cohort median, showing competitive efficiency within the ground freight sector.

Free cash flow surged to 1.2 billion JPY in FY2025, highlighting significant cash generation capability in recent periods.

Dilution risk is assessed as low, suggesting minimal threat to existing shareholder equity value from share issuance.

Free cash flow turned negative to -58 million JPY in FY2026, signaling a sharp deterioration in cash generation.

Debt-to-equity ratio of 1.25 places the company in the bottom quartile, indicating excessive leverage compared to peers.

Credit risk is flagged as high, raising concerns about the company's ability to meet its financial obligations.

Revenue ¥8.95B, +11,7% YoY; Operating income −28,1% YoY.

• ▍Revenue ¥8.95B, +11,7% YoY
• ▍Operating income −28,1% YoY
• ▍Net income −25,0% YoY
• ▍Net margin 3.9%

Revenue ¥8.74B, +13,1% YoY; Operating income +0,2% YoY.

• ▍Revenue ¥8.74B, +13,1% YoY
• ▍Operating income +0,2% YoY
• ▍Net income −6,3% YoY
• ▍Net margin 3.9%

Revenue ¥8.27B, +10,1% YoY; Operating income +6,3% YoY.

• ▍Revenue ¥8.27B, +10,1% YoY
• ▍Operating income +6,3% YoY
• ▍Net income +3,2% YoY
• ▍Net margin 4.6%

Revenue ¥7.55B, +8,9% YoY; Operating income +60,8% YoY.

• ▍Revenue ¥7.55B, +8,9% YoY
• ▍Operating income +60,8% YoY
• ▍Net income +88,1% YoY
• ▍Net margin 4.4%

Revenue ¥8.01B; Operating income ¥755.0M.

• ▍Revenue ¥8.01B
• ▍Operating income ¥755.0M
• ▍Net margin 5.8%

Revenue ¥7.73B; Operating income ¥570.0M.

• ▍Revenue ¥7.73B
• ▍Operating income ¥570.0M
• ▍Net margin 4.7%

Revenue ¥7.51B; Operating income ¥586.0M.

• ▍Revenue ¥7.51B
• ▍Operating income ¥586.0M
• ▍Net margin 5.0%

Revenue ¥6.93B; Operating income ¥332.0M.

• ▍Revenue ¥6.93B
• ▍Operating income ¥332.0M
• ▍Net margin 2.5%

Revenue ¥33.52B, +11,0% YoY; Operating income +1,2% YoY.

• ▍Revenue ¥33.52B, +11,0% YoY
• ▍Operating income +1,2% YoY
• ▍Net income +2,0% YoY
• ▍Free cash flow −104,7% YoY
• ▍Net margin 4.2%

Revenue ¥30.19B, +14,7% YoY; Operating income +24,9% YoY.

• ▍Revenue ¥30.19B, +14,7% YoY
• ▍Operating income +24,9% YoY
• ▍Net income +22,3% YoY
• ▍Free cash flow +365,8% YoY
• ▍Net margin 4.6%

Revenue ¥26.32B, +14,3% YoY; Operating income +38,0% YoY.

• ▍Revenue ¥26.32B, +14,3% YoY
• ▍Operating income +38,0% YoY
• ▍Net income +28,8% YoY
• ▍Free cash flow −68,0% YoY
• ▍Net margin 4.3%

Revenue ¥23.02B, +14,9% YoY; Operating income +16,5% YoY.

• ▍Revenue ¥23.02B, +14,9% YoY
• ▍Operating income +16,5% YoY
• ▍Net income +2,5% YoY
• ▍Free cash flow +774,5% YoY
• ▍Net margin 3.8%