Cash flow FP Corporation

Equities

7947

JP3167000003

Non-Paper Containers & Packaging

Market Closed - Japan Exchange Other stock markets 02:30:00 2026-03-13 EDT			5-day change	1st Jan Change
2,370.00 ^JPY	+1.07%		-7.82%	-9.89%

01-29	FP Corporation Reports Earnings Results for the Nine Months Ended December 31, 2025	CI
12-24	FP Corporation: flying high, but risks in sight

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Published financial data: FP CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	197B	196B	211B	222B	236B
Total Revenues	197B	196B	211B	222B	236B
Cost of Goods Sold, Total	127B	133B	146B	155B	163B
Gross Profit	69.7B	62.67B	65.46B	67.09B	73.07B
Selling General & Admin Expenses, Total	47.4B	43.08B	44.79B	46.25B	50.27B
Provision for Bad Debts	38M	-9M	-11M	-10M	-12M
Depreciation & Amortization - (IS)	3.51B	3.73B	4B	4.44B	4.34B
Other Operating Expenses, Total	50.94B	46.81B	48.78B	50.68B	54.6B
Operating Income	18.76B	15.87B	16.68B	16.41B	18.47B
Interest Expense, Total	-82M	-69M	-137M	-158M	-198M
Interest And Investment Income	109M	116M	110M	82M	101M
Net Interest Expenses	27M	47M	-27M	-76M	-97M
Income (Loss) On Equity Invest.	38M	51M	71M	-197M	-336M
Other Non Operating Income (Expenses)	430M	619M	413M	491M	246M
EBT, Excl. Unusual Items	19.26B	16.58B	17.14B	16.63B	18.28B
Gain (Loss) On Sale Of Investments	-	-21M	346M	207M	349M
Gain (Loss) On Sale Of Assets	-873M	58M	-559M	131M	-312M
Asset Writedown	-233M	-2.23B	-	-688M	-37M
Other Unusual Items	-93M	2.07B	-	704M	-
EBT, Incl. Unusual Items	18.06B	16.46B	16.93B	16.98B	18.28B
Income Tax Expense	5.75B	5.15B	5.32B	5.25B	5.79B
Earnings From Continuing Operations	12.31B	11.3B	11.6B	11.73B	12.49B
Net Income to Company	12.31B	11.3B	11.6B	11.73B	12.49B
Minority Interest	-96M	-98M	-76M	-7M	-6M
Net Income - (IS)	12.21B	11.21B	11.53B	11.72B	12.49B
Net Income to Common Incl Extra Items	12.21B	11.21B	11.53B	11.72B	12.49B
Net Income to Common Excl. Extra Items	12.21B	11.21B	11.53B	11.72B	12.49B
Per Share Items
Net EPS - Basic	147.79	136.95	140.87	143.5	154.45
Basic EPS - Continuing Operations	147.79	136.95	140.87	143.5	154.45
Basic Weighted Average Shares Outstanding	82.62M	81.82M	81.84M	81.7M	80.84M
Net EPS - Diluted	147.79	136.95	140.87	143.5	154.45
Diluted EPS - Continuing Operations	147.79	136.95	140.87	143.5	154.45
Diluted Weighted Average Shares Outstanding	82.62M	81.82M	81.84M	81.7M	80.84M
Normalized Basic EPS	144.51	125.47	129.98	127.12	141.29
Normalized Diluted EPS	144.51	125.47	129.98	127.12	141.29
Dividend Per Share	44.5	47	47	57	61.5
Payout Ratio	27.76	33.22	33.35	32.8	36.88
Supplemental Items
EBITDA	32.37B	29.5B	30.86B	31.46B	33.22B
EBITA	18.76B	15.87B	16.68B	16.41B	18.47B
EBIT	18.76B	15.87B	16.68B	16.41B	18.47B
Effective Tax Rate - (Ratio)	31.85	31.31	31.45	30.92	31.68
Normalized Net Income	11.94B	10.27B	10.64B	10.39B	11.42B
Non-Cash Pension Expense	495M	689M	505M	422M	400M
Supplemental Operating Expense Items
Advertising Expense	5.56B	-	-	-	-
Selling and Marketing Expenses	24.07B	18.57B	18.43B	19.05B	20.47B
General and Administrative Expenses	644M	782M	837M	948M	973M
Research And Development Expense From Footnotes	1.2B	1.15B	1.3B	1.48B	1.54B

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	17.88B	19.74B	22.26B	23.71B	19.02B
Total Cash And Short Term Investments	17.88B	19.74B	22.26B	23.71B	19.02B
Accounts Receivable, Total	36.73B	38.89B	41.97B	47.28B	42.6B
Other Receivables	2.99B	3.87B	6.62B	4.84B	4.69B
Total Receivables	39.72B	42.76B	48.6B	52.12B	47.29B
Inventory	22.4B	24.28B	29.85B	28.9B	31.68B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	643M	693M	705M	788M	856M
Total Current Assets	80.64B	87.48B	101B	106B	98.85B
Net Property Plant And Equipment	155B	164B	179B	173B	174B
Long-term Investments	5.93B	5.81B	12.09B	12.85B	12.11B
Goodwill	694M	413M	224M	698M	557M
Other Intangibles, Total	1.36B	1.22B	1.54B	2.89B	2.7B
Deferred Tax Assets Long-Term	3.99B	3.94B	4.07B	3.88B	4.35B
Other Long-Term Assets, Total	1M	1M	1M	1M	2M
Total Assets	247B	263B	299B	299B	292B
Liabilities
Accounts Payable, Total	21.18B	23.88B	26.53B	28.89B	28.06B
Accrued Expenses, Total	3.06B	2.93B	3.18B	3.34B	3.61B
Short-term Borrowings	34.33B	32.13B	32.91B	32.39B	32.75B
Current Portion of Leases	1.29B	1.14B	1.03B	899M	843M
Current Income Taxes Payable	13.72B	9.64B	14.68B	14.81B	12.36B
Other Current Liabilities	4.95B	7.07B	5.55B	5.86B	6.75B
Total Current Liabilities	78.53B	76.81B	83.88B	86.2B	84.37B
Long-Term Debt	36.97B	46.03B	67.25B	58.89B	46.19B
Long-Term Leases	877M	863M	815M	608M	727M
Pension & Other Post Retirement Benefits	5.33B	6.04B	5.36B	5.56B	5.39B
Deferred Tax Liability Non Current	-	-	-	359M	345M
Other Non Current Liabilities	559M	500M	1.14B	1.12B	1.09B
Total Liabilities	122B	130B	158B	153B	138B
Common Stock, Total	13.15B	13.15B	13.15B	13.15B	13.15B
Additional Paid In Capital	15.49B	15.54B	15.55B	15.57B	15.58B
Retained Earnings	99.96B	107B	115B	123B	131B
Treasury Stock	-5.62B	-5.56B	-5.53B	-8.48B	-8.42B
Comprehensive Income and Other	1.37B	1.18B	1.14B	1.89B	2.21B
Total Common Equity	124B	132B	139B	145B	153B
Minority Interest	630M	695M	738M	712M	685M
Total Equity	125B	132B	140B	146B	154B
Total Liabilities And Equity	247B	263B	299B	299B	292B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	81.81M	81.83M	81.85M	80.82M	80.85M
ECS Total Common Shares Outstanding	81.81M	81.83M	81.85M	80.82M	80.85M
Book Value / Share	1.52K	1.61K	1.7K	1.8K	1.9K
Tangible Book Value	122B	130B	138B	142B	150B
Tangible Book Value Per Share	1.49K	1.59K	1.68K	1.75K	1.86K
Total Debt	73.46B	80.17B	102B	92.78B	80.51B
Net Debt	55.57B	60.43B	79.75B	69.08B	61.49B
Debt Equivalent of Unfunded Proj. Benefit Obligation	4.64B	5.19B	5.14B	5.32B	5.11B
Minority Interest, Total (Incl. Fin. Div)	630M	695M	738M	712M	685M
Inventories - Raw Materials, Total	2.8B	3.59B	5.02B	4.91B	5.51B
Inventories - Work In Process, Total	93M	109M	119M	142M	150M
Inventories - Finished Goods, Total	19.5B	20.58B	24.71B	23.85B	26.02B
Full Time Employees	4.75K	4.79K	4.88K	5.1K	5.25K
Accumulated Allowance for Doubtful Accounts (Supple)	29M	27M	28M	34M	22M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	18.06B	16.46B	16.93B	16.98B	18.29B
Depreciation & Amortization - CF	13.61B	13.64B	14.18B	15.05B	14.75B
Depreciation & Amortization, Total	13.61B	13.64B	14.18B	15.05B	14.75B
(Gain) Loss From Sale Of Asset	1.22B	2.3B	735M	698M	467M
(Gain) Loss on Sale of Investments - (CF)	-	-	-346M	-	-349M
(Income) Loss On Equity Investments - (CF)	-38M	-51M	-71M	197M	336M
Other Operating Activities, Total	-3.25B	-5.08B	-4.4B	-5.76B	-5.12B
Change In Accounts Receivable	-2.56B	-2.14B	-3.04B	-5.12B	4.88B
Change In Inventories	498M	-1.88B	-5.57B	1.37B	-2.74B
Change In Accounts Payable	1.71B	1.91B	530M	6.29B	-4.18B
Change in Other Net Operating Assets	2.56B	-2B	1.12B	-537M	1.59B
Cash from Operations	31.81B	23.15B	20.07B	29.18B	27.92B
Capital Expenditure	-17.32B	-23.25B	-27.77B	-11.35B	-14.83B
Sale of Property, Plant, and Equipment	43M	743M	445M	770M	95M
Cash Acquisitions	-	-	-6.96B	-310M	-
Sale (Purchase) of Intangible assets	-390M	-300M	-569M	-448M	-528M
Investment in Marketable and Equity Securities, Total	-	-	756M	305M	480M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	-1.46B	-63M	-200M	324M	-148M
Cash from Investing	-19.13B	-22.87B	-34.31B	-10.71B	-14.93B
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	17.57B	24B	38B	6B	2B
Total Debt Issued	17.57B	24B	38B	6B	2B
Short Term Debt Repaid, Total	-	-	-	-	-60M
Long-Term Debt Repaid, Total	-22.97B	-17.13B	-16B	-14.9B	-14.27B
Total Debt Repaid	-22.97B	-17.13B	-16B	-14.9B	-14.33B
Repurchase of Common Stock	-4.07B	-	-	-3.05B	-
Common Dividends Paid	-3.39B	-3.72B	-3.84B	-3.85B	-4.6B
Common & Preferred Stock Dividends Paid	-3.39B	-3.72B	-3.84B	-3.85B	-4.6B
Other Financing Activities, Total	-2.22B	-1.57B	-1.4B	-1.22B	-1.13B
Cash from Financing	-15.09B	1.58B	16.74B	-17.01B	-18.07B
Miscellaneous Cash Flow Adjustments	-	-	-	-1M	394M
Net Change in Cash	-2.4B	1.86B	2.51B	1.45B	-4.69B
Supplemental Items
Cash Interest Paid	82M	68M	134M	155M	218M
Cash Income Tax Paid (Refund)	5.14B	7.1B	4.4B	5.77B	5.19B
Levered Free Cash Flow	10.19B	-4.39B	-8.83B	13.73B	10.66B
Unlevered Free Cash Flow	10.24B	-4.35B	-8.75B	13.83B	10.78B
Change In Net Working Capital	-2.62B	4.36B	5.01B	-320M	155M
Net Debt Issued / Repaid	-5.41B	6.87B	22B	-8.9B	-12.33B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	4.79	3.89	3.72	3.43	3.91
Return on Total Capital	5.89	4.82	4.59	4.27	4.88
Return On Equity %	10.08	8.78	8.51	8.2	8.33
Return on Common Equity	10.05	8.75	8.5	8.24	8.36
Margin Analysis
Gross Profit Margin %	35.39	32.02	30.98	30.21	31.01
SG&A Margin	24.07	22.01	21.2	20.82	21.33
EBITDA Margin %	16.44	15.08	14.61	14.17	14.1
EBITA Margin %	9.53	8.11	7.9	7.39	7.84
EBIT Margin %	9.53	8.11	7.9	7.39	7.84
Income From Continuing Operations Margin %	6.25	5.78	5.49	5.28	5.3
Net Income Margin %	6.2	5.73	5.46	5.28	5.3
Net Avail. For Common Margin %	6.2	5.73	5.46	5.28	5.3
Normalized Net Income Margin	6.06	5.25	5.03	4.68	4.85
Levered Free Cash Flow Margin	5.17	-2.25	-4.18	6.18	4.52
Unlevered Free Cash Flow Margin	5.2	-2.22	-4.14	6.23	4.58
Asset Turnover
Asset Turnover	0.8	0.77	0.75	0.74	0.8
Fixed Assets Turnover	1.29	1.23	1.23	1.26	1.36
Receivables Turnover (Average Receivables)	5.55	5.18	5.23	4.98	5.24
Inventory Turnover (Average Inventory)	5.68	5.7	5.39	5.28	5.37
Short Term Liquidity
Current Ratio	1.03	1.14	1.21	1.22	1.17
Quick Ratio	0.73	0.81	0.84	0.88	0.79
Operating Cash Flow to Current Liabilities	0.41	0.3	0.24	0.34	0.33
Days Sales Outstanding (Average Receivables)	65.73	70.52	69.85	73.54	69.61
Days Outstanding Inventory (Average Inventory)	64.27	64.03	67.75	69.37	68.02
Average Days Payable Outstanding	58.09	60.96	60.77	65.83	62.86
Cash Conversion Cycle (Average Days)	71.91	73.59	76.83	77.08	74.77
Long Term Solvency
Total Debt/Equity	58.78	60.53	72.77	63.62	52.24
Total Debt / Total Capital	37.02	37.71	42.12	38.88	34.32
LT Debt/Equity	30.28	35.4	48.56	40.79	30.44
Long-Term Debt / Total Capital	19.07	22.05	28.11	24.93	20
Total Liabilities / Total Assets	49.45	49.58	53.06	51.15	47.26
EBIT / Interest Expense	228.82	229.94	121.79	103.87	93.29
EBITDA / Interest Expense	394.78	427.57	225.29	199.13	167.79
(EBITDA - Capex) / Interest Expense	183.57	90.67	22.56	127.28	92.9
Total Debt / EBITDA	2.27	2.72	3.3	2.95	2.42
Net Debt / EBITDA	1.72	2.05	2.58	2.2	1.85
Total Debt / (EBITDA - Capex)	4.88	12.82	33	4.61	4.38
Net Debt / (EBITDA - Capex)	3.69	9.66	25.8	3.43	3.34
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	5.69	-0.63	7.96	5.12	6.09
Gross Profit, 1 Yr. Growth %	10.44	-10.09	4.45	2.48	8.92
EBITDA, 1 Yr. Growth %	11.47	-8.87	4.62	1.94	5.59
EBITA, 1 Yr. Growth %	20.99	-15.44	5.16	-1.64	12.56
EBIT, 1 Yr. Growth %	20.99	-15.44	5.16	-1.64	12.56
Earnings From Cont. Operations, 1 Yr. Growth %	12.8	-8.15	2.66	1.09	6.49
Net Income, 1 Yr. Growth %	13.31	-8.23	2.88	1.69	6.5
Normalized Net Income, 1 Yr. Growth %	20.12	-14.02	3.62	-2.37	9.97
Diluted EPS Before Extra, 1 Yr. Growth %	13.38	-7.33	2.86	1.87	7.63
Accounts Receivable, 1 Yr. Growth %	7.39	5.87	7.94	12.64	-9.9
Inventory, 1 Yr. Growth %	-0.09	8.41	22.96	-3.18	9.61
Net Property, Plant and Equip., 1 Yr. Growth %	2.2	5.96	9.44	-3.66	0.54
Total Assets, 1 Yr. Growth %	1.95	6.25	13.68	-0.01	-2.13
Tangible Book Value, 1 Yr. Growth %	5.17	6.41	5.8	2.81	6.1
Common Equity, 1 Yr. Growth %	4.73	5.96	5.82	4.09	5.72
Cash From Operations, 1 Yr. Growth %	14.56	-27.24	-13.29	45.36	-4.31
Capital Expenditures, 1 Yr. Growth %	62.56	34.22	19.48	-59.13	30.62
Levered Free Cash Flow, 1 Yr. Growth %	-29.64	-143.12	100.97	-255.45	-22.35
Unlevered Free Cash Flow, 1 Yr. Growth %	-29.58	-142.49	101	-258.1	-22.01
Dividend Per Share, 1 Yr. Growth %	9.88	5.62	0	21.28	7.89
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.26	2.48	3.58	6.53	5.6
Gross Profit, 2 Yr. CAGR %	8.71	-0.35	-3.09	3.46	5.65
EBITDA, 2 Yr. CAGR %	9.25	0.79	-2.36	3.27	3.75
EBITA, 2 Yr. CAGR %	15.97	1.15	-5.7	1.7	5.22
EBIT, 2 Yr. CAGR %	15.97	1.15	-5.7	1.7	5.22
Earnings From Cont. Operations, 2 Yr. CAGR %	11.1	1.79	-2.89	1.87	3.75
Net Income, 2 Yr. CAGR %	11.05	1.97	-2.83	2.29	4.07
Normalized Net Income, 2 Yr. CAGR %	14.42	1.63	-5.61	0.58	3.62
Diluted EPS Before Extra, 2 Yr. CAGR %	11.09	2.5	-2.37	2.36	4.71
Accounts Receivable, 2 Yr. CAGR %	-2.31	6.63	6.9	10.26	0.74
Inventory, 2 Yr. CAGR %	-0.32	4.07	15.46	9.11	3.02
Net Property, Plant and Equip., 2 Yr. CAGR %	0.43	4.06	7.69	2.68	-1.58
Total Assets, 2 Yr. CAGR %	-0.42	4.08	9.9	6.61	-1.08
Tangible Book Value, 2 Yr. CAGR %	5.85	5.79	6.1	4.29	4.44
Common Equity, 2 Yr. CAGR %	5.48	5.34	5.89	4.95	4.9
Cash From Operations, 2 Yr. CAGR %	11.67	-8.7	-20.57	12.27	17.94
Capital Expenditures, 2 Yr. CAGR %	1.51	47.71	26.64	-30.12	-26.93
Levered Free Cash Flow, 2 Yr. CAGR %	83.6	-44.92	-6.91	76.75	9.87
Unlevered Free Cash Flow, 2 Yr. CAGR %	81.93	-45.3	-7.59	78.26	11.04
Dividend Per Share, 2 Yr. CAGR %	4.82	7.73	2.77	10.13	14.39
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	4.3	2.6	4.28	4.09	6.38
Gross Profit, 3 Yr. CAGR %	7.78	2.04	1.23	-1.27	5.25
EBITDA, 3 Yr. CAGR %	9.6	2.85	2.05	-0.94	4.04
EBITA, 3 Yr. CAGR %	13.35	4.38	2.47	-4.37	5.2
EBIT, 3 Yr. CAGR %	13.35	4.38	2.47	-4.37	5.2
Earnings From Cont. Operations, 3 Yr. CAGR %	10.19	4.27	2.08	-1.59	3.39
Net Income, 3 Yr. CAGR %	9.99	4.21	2.27	-1.35	3.67
Normalized Net Income, 3 Yr. CAGR %	12.58	4.02	2.29	-4.54	3.62
Diluted EPS Before Extra, 3 Yr. CAGR %	10.01	4.57	2.62	-0.98	4.09
Accounts Receivable, 3 Yr. CAGR %	-0.66	0.34	7.06	8.78	3.08
Inventory, 3 Yr. CAGR %	0.69	2.51	10.02	8.88	9.28
Net Property, Plant and Equip., 3 Yr. CAGR %	0.17	2.24	5.82	3.76	1.96
Total Assets, 3 Yr. CAGR %	0.41	1.76	7.19	6.49	3.61
Tangible Book Value, 3 Yr. CAGR %	5.7	6.03	5.79	4.99	4.89
Common Equity, 3 Yr. CAGR %	5.52	5.64	5.5	5.29	5.21
Cash From Operations, 3 Yr. CAGR %	31.55	-3.19	-10.26	-2.84	6.45
Capital Expenditures, 3 Yr. CAGR %	-9.7	11.42	37.63	-13.13	-13.92
Levered Free Cash Flow, 3 Yr. CAGR %	17.95	13.28	-15.2	10.44	34.37
Unlevered Free Cash Flow, 3 Yr. CAGR %	18.66	12.03	-15.59	10.52	35.33
Dividend Per Share, 3 Yr. CAGR %	3.19	5.09	5.09	8.6	9.38
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.95	2.51	4.01	4.16	4.8
Gross Profit, 5 Yr. CAGR %	5.68	1.84	3.29	2.61	2.97
EBITDA, 5 Yr. CAGR %	7.29	2.28	4.65	3.02	2.73
EBITA, 5 Yr. CAGR %	7.21	0.89	5.3	3.3	3.56
EBIT, 5 Yr. CAGR %	7.21	0.89	5.3	3.3	3.56
Earnings From Cont. Operations, 5 Yr. CAGR %	5.73	0.6	4.76	3.31	2.75
Net Income, 5 Yr. CAGR %	5.61	0.46	4.67	3.44	2.99
Normalized Net Income, 5 Yr. CAGR %	6.69	1.06	4.92	2.63	2.82
Diluted EPS Before Extra, 5 Yr. CAGR %	5.65	0.68	4.88	3.68	3.45
Accounts Receivable, 5 Yr. CAGR %	0.63	3.72	2.3	4.2	4.49
Inventory, 5 Yr. CAGR %	3.77	4.88	6.36	5.1	7.17
Net Property, Plant and Equip., 5 Yr. CAGR %	4.05	3.77	3.11	2.42	2.8
Total Assets, 5 Yr. CAGR %	3.41	3.66	4.11	3.67	3.8
Tangible Book Value, 5 Yr. CAGR %	6.59	6.05	5.86	5.33	5.25
Common Equity, 5 Yr. CAGR %	6.4	5.81	5.67	5.37	5.26
Cash From Operations, 5 Yr. CAGR %	8.84	-2.23	7.51	2.72	0.11
Capital Expenditures, 5 Yr. CAGR %	-0.39	0.6	3.38	-7.55	6.84
Levered Free Cash Flow, 5 Yr. CAGR %	19.79	11.8	7.29	35.34	-5.95
Unlevered Free Cash Flow, 5 Yr. CAGR %	19.03	12.6	7.37	34.91	-5.81
Dividend Per Share, 5 Yr. CAGR %	5.53	3.28	3.02	7.07	8.71