Fushiki Kairiku Unso Co Ltd

Fushiki Kairiku Unso Co Ltd maintains a relatively balanced capital structure, with a debt-to-equity ratio of 0.57, indicating moderate leverage. The company's liquidity position is characterized as medium, with a current ratio of 1.3, suggesting it can cover short-term obligations but with limited buffer. However, the company's net cash position is negative after subtracting total debt, signaling potential liquidity constraints.

Profitability metrics show a return on equity (ROE) of 0.68% and a return on assets (ROA) of 0.32%, both of which are below the industry median for marine port services. This suggests the company is underperforming in terms of capital efficiency and asset utilization compared to its peers. Gross profit of 451.42 million JPY and operating income of 187.02 million JPY indicate a narrow margin structure, which may limit resilience during economic downturns.

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification increases exposure to regional economic fluctuations and regulatory changes. The absence of segment or geographic breakdown in the financial data limits the ability to assess risk distribution.

Growth trajectory appears modest, with no disclosed revenue growth rates or forward-looking guidance. The company's net income of 74.62 million JPY and operating income of 187.02 million JPY suggest stable but unremarkable performance. Analyst estimates for revenue and EPS align closely with reported figures, indicating limited upside potential.

Risk factors include medium liquidity risk due to the current ratio and negative net cash position. Dilution risk is assessed as low, with no significant dilution events reported in the latest filings. However, the company's debt load of 6.26 billion JPY may require refinancing or additional capital in the near term, which could introduce new risks.

Recent events include the publication of the latest financial results, which show a revenue of 31.74 billion JPY and a net income of 74.62 million JPY. No material changes in business strategy or regulatory environment have been disclosed in the latest filings. The company's performance remains consistent with historical trends, with no significant deviations in operating income or net income.

Free cash flow surged 409% year-over-year to JPY 779.6 million in fiscal 2025, demonstrating strong cash generation capabilities.

Operating income grew 61.5% year-over-year to JPY 1.22 billion in fiscal 2025, indicating significant improvement in core operational profitability.

Net income increased 45.9% year-over-year to JPY 683.0 million in fiscal 2025, reflecting robust bottom-line growth for the period.

Long-term debt decreased to JPY 5.18 billion in fiscal 2025, showing a consistent trend of deleveraging over the four-year period.

Revenue reached JPY 13.45 billion in fiscal 2025, marking a 4.0% year-over-year increase and maintaining steady top-line growth.

The company faces high credit risk, signaling potential difficulties in meeting financial obligations or servicing existing debt levels.

Net margin of 2.35% places the company in the bottom quartile of the Marine Port Services cohort, indicating weak profitability.

Return on equity of 0.68% ranks in the bottom quartile of peers, suggesting inefficient use of shareholder capital.

Debt-to-equity ratio of 0.57 is nearly double the cohort median of 0.29, indicating higher financial leverage than competitors.

Medium liquidity risk flags suggest potential challenges in meeting short-term financial obligations or managing cash flow volatility.

Revenue ¥3.63B, +8,5% YoY; Operating income +20,4% YoY.

• ▍Revenue ¥3.63B, +8,5% YoY
• ▍Operating income +20,4% YoY
• ▍Net income +21,8% YoY
• ▍Net margin 7.2%

Revenue ¥3.54B, +11,2% YoY; Operating income +7,7% YoY.

• ▍Revenue ¥3.54B, +11,2% YoY
• ▍Operating income +7,7% YoY
• ▍Net income +19,0% YoY
• ▍Net margin 7.3%

Revenue ¥3.56B, +12,2% YoY; Operating income +155,1% YoY.

• ▍Revenue ¥3.56B, +12,2% YoY
• ▍Operating income +155,1% YoY
• ▍Net income +16,7% YoY
• ▍Net margin 2.9%

Revenue ¥3.36B, +6,0% YoY; Operating income +61,2% YoY.

• ▍Revenue ¥3.36B, +6,0% YoY
• ▍Operating income +61,2% YoY
• ▍Net income +93,5% YoY
• ▍Net margin 4.3%

Revenue ¥3.34B; Operating income ¥324.7M.

• ▍Revenue ¥3.34B
• ▍Operating income ¥324.7M
• ▍Net margin 6.5%

Revenue ¥3.19B; Operating income ¥314.1M.

• ▍Revenue ¥3.19B
• ▍Operating income ¥314.1M
• ▍Net margin 6.9%

Revenue ¥3.17B; Operating income ¥111.4M.

• ▍Revenue ¥3.17B
• ▍Operating income ¥111.4M
• ▍Net margin 2.8%

Revenue ¥3.17B; Operating income ¥187.0M.

• ▍Revenue ¥3.17B
• ▍Operating income ¥187.0M
• ▍Net margin 2.4%

Revenue ¥13.45B, +4,0% YoY; Operating income +61,5% YoY.

• ▍Revenue ¥13.45B, +4,0% YoY
• ▍Operating income +61,5% YoY
• ▍Net income +45,9% YoY
• ▍Free cash flow +409,0% YoY
• ▍Net margin 5.1%

Revenue ¥12.94B, −1,0% YoY; Operating income −37,5% YoY.

• ▍Revenue ¥12.94B, −1,0% YoY
• ▍Operating income −37,5% YoY
• ▍Net income −32,0% YoY
• ▍Free cash flow −136,9% YoY
• ▍Net margin 3.6%

Revenue ¥13.07B, +7,0% YoY; Operating income +58,5% YoY.

• ▍Revenue ¥13.07B, +7,0% YoY
• ▍Operating income +58,5% YoY
• ▍Net income +66,8% YoY
• ▍Free cash flow +32,8% YoY
• ▍Net margin 5.3%

Revenue ¥12.21B, −1,2% YoY; Operating income +71,7% YoY.

• ▍Revenue ¥12.21B, −1,2% YoY
• ▍Operating income +71,7% YoY
• ▍Net income +5,2% YoY
• ▍Free cash flow +216,6% YoY
• ▍Net margin 3.4%