Income Statement Medical Net, Inc.

Stocks

3645

JP3752400006

Healthcare Facilities & Services

Market Closed - Japan Exchange 02:30:00 2026-09-11 EDT			5-day change	1st Jan Change
263.00 ^JPY	-1.50%		-13.20%	-11.74%

08-27	Medical Net, Inc. announced that it expects to receive ¥99.9945 million in funding	CI
05-31	Tokyo Stock Exchange Issues Supervisory Designations for Three Firms Over Delisting Concerns	MT

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Published financial data: MEDICAL NET, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: May	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Revenues	3.74B	4.5B	5.25B	6.08B	6.73B
Total Revenues	3.74B	4.5B	5.25B	6.08B	6.73B
Cost of Goods Sold, Total	2.28B	2.72B	3.41B	4.11B	4.74B
Gross Profit	1.46B	1.78B	1.84B	1.96B	2B
Selling General & Admin Expenses, Total	1B	1.4B	1.52B	1.86B	1.8B
Provision for Bad Debts	10M	5M	18M	2M	-
Other Operating Expenses, Total	1.01B	1.4B	1.54B	1.87B	1.8B
Operating Income	450M	379M	299M	99M	192M
Interest Expense, Total	-1M	-3M	-6M	-11M	-15M
Interest And Investment Income	-	-	1M	3M	7M
Net Interest Expenses	-1M	-3M	-5M	-8M	-8M
Currency Exchange Gains (Loss)	8M	45M	34M	25M	84M
Other Non Operating Income (Expenses)	-5M	10M	-7M	18M	0
EBT, Excl. Unusual Items	452M	431M	321M	134M	268M
Gain (Loss) On Sale Of Investments	84M	-40M	-4M	352M	-
Gain (Loss) On Sale Of Assets	-	2M	5M	-	1M
Asset Writedown	-	-143M	-170M	-154M	-10M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-1M	-308M	-1M
EBT, Incl. Unusual Items	536M	250M	151M	24M	258M
Income Tax Expense	137M	141M	126M	62M	96M
Earnings From Continuing Operations	399M	109M	25M	-38M	162M
Net Income to Company	399M	109M	25M	-38M	162M
Minority Interest	-15M	7M	-20M	-30M	-25M
Net Income - (IS)	384M	116M	5M	-68M	137M
Net Income to Common Incl Extra Items	384M	116M	5M	-68M	137M
Net Income to Common Excl. Extra Items	384M	116M	5M	-68M	137M
Per Share Items
Net EPS - Basic	43.88	12.95	0.55	-7.62	14.91
Basic EPS - Continuing Operations	43.88	12.95	0.55	-7.62	14.91
Basic Weighted Average Shares Outstanding	8.75M	8.96M	9.05M	8.92M	9.19M
Net EPS - Diluted	43.88	12.95	0.55	-7.62	14.91
Diluted EPS - Continuing Operations	43.88	12.95	0.55	-7.62	14.91
Diluted Weighted Average Shares Outstanding	8.75M	8.96M	9.05M	8.92M	9.19M
Normalized Basic EPS	30.57	30.84	19.97	6.02	15.51
Normalized Diluted EPS	30.57	30.84	19.97	6.02	15.51
Dividend Per Share	2.5	2.5	3	3	3
Payout Ratio	8.85	30.17	440	-38.24	18.98
Supplemental Items
EBITDA	479M	440M	352M	175M	269M
EBITA	465M	425M	333M	144M	240M
EBIT	450M	379M	299M	99M	192M
Effective Tax Rate - (Ratio)	25.56	56.4	83.44	258.33	37.21
Normalized Net Income	268M	276M	181M	53.75M	142M
Non-Cash Pension Expense	-	5.28M	-4.1M	-1.81M	4M
Supplemental Operating Expense Items
Advertising Expense	108M	119M	119M	154M	116M
Selling and Marketing Expenses	108M	119M	119M	154M	116M
General and Administrative Expenses	149M	157M	173M	182M	190M
Research And Development Expense From Footnotes	8M	-	7M	23M	-

Fiscal Period: May	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Assets
Cash And Equivalents	1.13B	1.52B	1.53B	1.46B	1.96B
Total Cash And Short Term Investments	1.13B	1.52B	1.53B	1.46B	1.96B
Accounts Receivable, Total	649M	674M	834M	884M	1.05B
Total Receivables	649M	674M	834M	884M	1.05B
Inventory	129M	123M	206M	318M	363M
Other Current Assets, Total	166M	144M	266M	300M	233M
Total Current Assets	2.08B	2.46B	2.83B	2.96B	3.6B
Net Property Plant And Equipment	106M	111M	125M	133M	114M
Long-term Investments	411M	497M	469M	195M	294M
Goodwill	462M	293M	446M	394M	376M
Other Intangibles, Total	15M	12M	14M	34M	41M
Loans Receivable Long-Term	47M	44M	41M	291M	43M
Deferred Tax Assets Long-Term	34M	49M	58M	75M	98M
Other Long-Term Assets, Total	2M	2M	2M	-	2M
Total Assets	3.15B	3.47B	3.99B	4.08B	4.57B
Liabilities
Accounts Payable, Total	259M	322M	436M	408M	397M
Accrued Expenses, Total	-	-	-	21M	34M
Short-term Borrowings	630M	680M	530M	846M	1.09B
Current Portion of Long-Term Debt	32M	27M	112M	69M	68M
Current Income Taxes Payable	91M	90M	69M	17M	75M
Other Current Liabilities	288M	318M	475M	570M	529M
Total Current Liabilities	1.3B	1.44B	1.62B	1.93B	2.19B
Long-Term Debt	111M	82M	387M	336M	267M
Pension & Other Post Retirement Benefits	5M	11M	40M	40M	44M
Other Non Current Liabilities	2M	9M	10M	6M	4M
Total Liabilities	1.42B	1.54B	2.06B	2.31B	2.5B
Common Stock, Total	286M	286M	286M	286M	286M
Additional Paid In Capital	287M	337M	337M	337M	348M
Retained Earnings	1.63B	1.71B	1.69B	1.6B	1.71B
Treasury Stock	-511M	-443M	-443M	-543M	-400M
Comprehensive Income and Other	11M	26M	33M	37M	50M
Total Common Equity	1.71B	1.92B	1.91B	1.72B	1.99B
Minority Interest	29M	12M	24M	52M	71M
Total Equity	1.74B	1.93B	1.93B	1.77B	2.06B
Total Liabilities And Equity	3.15B	3.47B	3.99B	4.08B	4.57B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	8.82M	9.05M	9.05M	9.27M	9.25M
ECS Total Common Shares Outstanding	8.82M	9.05M	9.05M	8.73M	9.25M
Book Value / Share	193.63	211.82	210.72	196.41	215.53
Tangible Book Value	1.23B	1.61B	1.45B	1.29B	1.58B
Tangible Book Value Per Share	139.52	178.1	159.86	147.39	170.43
Total Debt	773M	789M	1.03B	1.25B	1.42B
Net Debt	-360M	-729M	-499M	-205M	-535M
Debt Equivalent of Unfunded Proj. Benefit Obligation	5.1M	11.06M	40.86M	40.27M	44M
Minority Interest, Total (Incl. Fin. Div)	29M	12M	24M	52M	71M
Inventories - Finished Goods, Total	129M	123M	206M	318M	363M
Full Time Employees	163	186	274	296	290
Accumulated Allowance for Doubtful Accounts (Supple)	15M	19M	8M	60M	4M

Fiscal Period: May	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Net Income	538M	250M	153M	25M	259M
Depreciation & Amortization - CF	14M	15M	19M	31M	29M
Amortization of Goodwill and Intangible Assets - (CF)	15M	46M	34M	45M	48M
Depreciation & Amortization, Total	29M	61M	53M	76M	77M
(Gain) Loss From Sale Of Asset	-	141M	165M	154M	8M
(Gain) Loss on Sale of Investments - (CF)	-	40M	4M	-352M	-
Other Operating Activities, Total	-159M	-158M	-159M	-122M	-67M
Change In Accounts Receivable	-44M	-30M	-115M	-62M	-83M
Change In Inventories	-28M	5M	-72M	-95M	-38M
Change In Accounts Payable	24M	62M	45M	-98M	-37M
Change in Other Net Operating Assets	-18M	58M	45M	394M	-21M
Cash from Operations	342M	429M	119M	-80M	98M
Capital Expenditure	-2M	-19M	-32M	-131M	-8M
Sale of Property, Plant, and Equipment	-	4M	5M	-	2M
Cash Acquisitions	-340M	-	-224M	-33M	-
Divestitures	-	-	-	-52M	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-3M	-27M	-	-	22M
Net (Increase) Decrease in Loans Originated / Sold - Investing	3M	3M	3M	-7M	3M
Other Investing Activities, Total	-13M	-23M	-37M	-36M	68M
Cash from Investing	-355M	-62M	-285M	-259M	87M
Short Term Debt Issued, Total	390M	50M	-	299M	236M
Long-Term Debt Issued, Total	-	-	360M	130M	-
Total Debt Issued	390M	50M	360M	429M	236M
Short Term Debt Repaid, Total	-	-	-150M	-	-
Long-Term Debt Repaid, Total	-74M	-33M	-37M	-79M	-69M
Total Debt Repaid	-74M	-33M	-187M	-79M	-69M
Issuance of Common Stock	-	-	-	-	155M
Repurchase of Common Stock	-	-	-	-99M	-
Common Dividends Paid	-34M	-35M	-22M	-26M	-26M
Common & Preferred Stock Dividends Paid	-34M	-35M	-22M	-26M	-26M
Other Financing Activities, Total	-	1M	-7M	-6M	-6M
Cash from Financing	282M	-17M	144M	219M	290M
Foreign Exchange Rate Adjustments	-9M	35M	16M	17M	39M
Miscellaneous Cash Flow Adjustments	-	-1M	1M	-1M	2M
Net Change in Cash	260M	384M	-5M	-104M	516M
Supplemental Items
Cash Interest Paid	1M	3M	6M	11M	15M
Cash Income Tax Paid (Refund)	160M	159M	158M	123M	66M
Levered Free Cash Flow	175M	372M	89.12M	-160M	56.62M
Unlevered Free Cash Flow	175M	374M	92.88M	-153M	66M
Change In Net Working Capital	133M	-95M	115M	160M	123M
Net Debt Issued / Repaid	316M	17M	173M	350M	167M

Fiscal Period: May	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Profitability
Return on Assets	10.69	7.16	5.01	1.53	2.78
Return on Total Capital	13.55	9.07	6.58	2.07	3.69
Return On Equity %	26.64	5.95	1.3	-2.06	8.46
Return on Common Equity	26.04	6.4	0.26	-3.76	7.39
Margin Analysis
Gross Profit Margin %	38.99	39.56	35.05	32.34	29.65
SG&A Margin	26.7	31.02	29.02	30.67	26.8
EBITDA Margin %	12.79	9.78	6.7	2.88	4
EBITA Margin %	12.42	9.44	6.34	2.37	3.56
EBIT Margin %	12.02	8.42	5.69	1.63	2.85
Income From Continuing Operations Margin %	10.65	2.42	0.48	-0.63	2.41
Net Income Margin %	10.25	2.58	0.1	-1.12	2.04
Net Avail. For Common Margin %	10.25	2.58	0.1	-1.12	2.04
Normalized Net Income Margin	7.14	6.14	3.44	0.88	2.12
Levered Free Cash Flow Margin	4.66	8.27	1.7	-2.63	0.84
Unlevered Free Cash Flow Margin	4.68	8.31	1.77	-2.52	0.98
Asset Turnover
Asset Turnover	1.42	1.36	1.41	1.51	1.56
Fixed Assets Turnover	51.66	41.47	44.51	47.11	54.51
Receivables Turnover (Average Receivables)	6.85	6.8	6.97	7.07	6.97
Inventory Turnover (Average Inventory)	28.92	21.59	20.74	15.69	13.91
Short Term Liquidity
Current Ratio	1.6	1.71	1.75	1.53	1.64
Quick Ratio	1.37	1.53	1.46	1.21	1.37
Operating Cash Flow to Current Liabilities	0.26	0.3	0.07	-0.04	0.04
Days Sales Outstanding (Average Receivables)	53.26	53.66	52.54	51.59	52.37
Days Outstanding Inventory (Average Inventory)	12.62	16.91	17.65	23.26	26.24
Average Days Payable Outstanding	28.31	39.07	39.7	36.47	30.73
Cash Conversion Cycle (Average Days)	37.57	31.49	30.49	38.38	47.89
Long Term Solvency
Total Debt/Equity	44.53	40.92	53.32	70.8	68.85
Total Debt / Total Capital	30.81	29.04	34.78	41.45	40.77
LT Debt/Equity	6.39	4.25	20.05	19.02	12.94
Long-Term Debt / Total Capital	4.42	3.02	13.08	11.13	7.66
Total Liabilities / Total Assets	44.96	44.39	51.62	56.69	54.82
EBIT / Interest Expense	450	126.33	49.83	9	12.8
EBITDA / Interest Expense	479	146.67	58.67	15.91	17.93
(EBITDA - Capex) / Interest Expense	477	140.33	53.33	4	17.4
Total Debt / EBITDA	1.61	1.79	2.92	7.15	5.28
Net Debt / EBITDA	-0.75	-1.66	-1.42	-1.17	-1.99
Total Debt / (EBITDA - Capex)	1.62	1.87	3.22	28.43	5.44
Net Debt / (EBITDA - Capex)	-0.75	-1.73	-1.56	-4.66	-2.05
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	12.46	20.16	16.71	15.71	10.78
Gross Profit, 1 Yr. Growth %	24.04	21.92	3.43	6.74	1.58
EBITDA, 1 Yr. Growth %	34.93	-8.14	-20	-50.28	53.71
EBITA, 1 Yr. Growth %	35.17	-8.6	-21.65	-56.76	66.67
EBIT, 1 Yr. Growth %	35.95	-15.78	-21.11	-66.89	93.94
Earnings From Cont. Operations, 1 Yr. Growth %	191.24	-72.68	-77.06	-252	-526.32
Net Income, 1 Yr. Growth %	197.67	-69.79	-95.69	-1.46K	-301.47
Normalized Net Income, 1 Yr. Growth %	32.84	3.32	-34.64	-70.24	165.12
Diluted EPS Before Extra, 1 Yr. Growth %	187.19	-70.5	-95.73	-1.48K	-295.67
Accounts Receivable, 1 Yr. Growth %	46.17	3.85	23.74	6	18.55
Inventory, 1 Yr. Growth %	344.83	-4.65	67.48	54.37	14.15
Net Property, Plant and Equip., 1 Yr. Growth %	171.79	4.72	12.61	6.4	-14.29
Total Assets, 1 Yr. Growth %	49.69	9.92	15.06	2.28	11.96
Tangible Book Value, 1 Yr. Growth %	18.5	30.98	-10.24	-11	22.46
Common Equity, 1 Yr. Growth %	37.44	12.24	-0.52	-10.02	16.21
Cash From Operations, 1 Yr. Growth %	-12.53	25.44	-72.26	-167.23	-222.5
Capital Expenditures, 1 Yr. Growth %	-84.62	850	68.42	309.38	-93.89
Levered Free Cash Flow, 1 Yr. Growth %	-46.96	113.03	-76.04	-279.52	-135.39
Unlevered Free Cash Flow, 1 Yr. Growth %	-46.87	113.34	-75.16	-264.87	-143.1
Dividend Per Share, 1 Yr. Growth %	0	0	20	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	13.31	16.25	18.42	16.21	13.22
Gross Profit, 2 Yr. CAGR %	22.56	22.98	12.29	5.07	4.12
EBITDA, 2 Yr. CAGR %	95.75	11.33	-14.28	-36.93	-12.58
EBITA, 2 Yr. CAGR %	100.22	11.15	-15.38	-41.79	-15.1
EBIT, 2 Yr. CAGR %	106.04	7.01	-18.49	-48.89	-19.87
Earnings From Cont. Operations, 2 Yr. CAGR %	119.25	-10.8	-74.97	-40.96	154.56
Net Income, 2 Yr. CAGR %	120.47	-5.17	-88.59	-23.44	423.45
Normalized Net Income, 2 Yr. CAGR %	110.49	17.15	-17.83	-55.9	-11.18
Diluted EPS Before Extra, 2 Yr. CAGR %	118.23	-7.96	-88.78	-23.28	419.34
Accounts Receivable, 2 Yr. CAGR %	24.75	23.21	13.36	14.52	12.1
Inventory, 2 Yr. CAGR %	114.64	105.95	26.37	60.79	32.75
Net Property, Plant and Equip., 2 Yr. CAGR %	67.02	68.71	8.59	9.46	-4.5
Total Assets, 2 Yr. CAGR %	34.79	28.28	12.46	8.48	7.01
Tangible Book Value, 2 Yr. CAGR %	21.81	24.58	8.43	-10.62	4.4
Common Equity, 2 Yr. CAGR %	30.91	24.2	5.67	-5.39	2.26
Cash From Operations, 2 Yr. CAGR %	109.39	4.75	-41.01	-56.82	-9.25
Capital Expenditures, 2 Yr. CAGR %	-50	20.89	300	162.58	-50
Levered Free Cash Flow, 2 Yr. CAGR %	149.73	6.29	-28.56	-34.42	-20.29
Unlevered Free Cash Flow, 2 Yr. CAGR %	144.77	6.46	-27.2	-36	-15.7
Dividend Per Share, 2 Yr. CAGR %	82.57	0	9.54	9.54	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	18.76	15.55	16.4	17.51	14.37
Gross Profit, 3 Yr. CAGR %	18.34	22.34	16.08	10.41	3.89
EBITDA, 3 Yr. CAGR %	35.16	52.12	-0.28	-28.51	-15.13
EBITA, 3 Yr. CAGR %	36.21	54.16	-1.08	-32.34	-17.34
EBIT, 3 Yr. CAGR %	36.74	52.91	-3.33	-39.63	-20.28
Earnings From Cont. Operations, 3 Yr. CAGR %	57.56	9.51	-43.28	-54.33	14.12
Net Income, 3 Yr. CAGR %	55.56	13.66	-66.16	-43.84	5.7
Normalized Net Income, 3 Yr. CAGR %	32.98	66.04	-3.56	-41.43	-19.81
Diluted EPS Before Extra, 3 Yr. CAGR %	66.73	12	-66.93	-44.21	4.82
Accounts Receivable, 3 Yr. CAGR %	15.34	17.36	23.38	10.85	15.85
Inventory, 3 Yr. CAGR %	80.32	63.78	92.23	35.09	43.44
Net Property, Plant and Equip., 3 Yr. CAGR %	42.03	42.95	47.44	7.86	0.89
Total Assets, 3 Yr. CAGR %	15.42	25.93	23.71	8.96	9.63
Tangible Book Value, 3 Yr. CAGR %	-5.58	24.79	11.68	1.52	-0.73
Common Equity, 3 Yr. CAGR %	1.47	24.37	15.35	0.16	1.32
Cash From Operations, 3 Yr. CAGR %	149.58	76.52	-32.73	-38.38	-38.87
Capital Expenditures, 3 Yr. CAGR %	-52.78	33.42	35.02	303.1	-25.05
Levered Free Cash Flow, 3 Yr. CAGR %	26.14	136.84	-35.31	-2.87	-46.61
Unlevered Free Cash Flow, 3 Yr. CAGR %	26.29	133.81	-34.46	-4.4	-43.9
Dividend Per Share, 3 Yr. CAGR %	35.72	49.38	6.27	6.27	6.27
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	20.4	20.93	18.62	15.81	15.12
Gross Profit, 5 Yr. CAGR %	14.04	14.92	15.88	15.12	11.14
EBITDA, 5 Yr. CAGR %	28.83	21.38	12.65	6.96	-5.4
EBITA, 5 Yr. CAGR %	29.84	22.04	12.6	4.42	-6.95
EBIT, 5 Yr. CAGR %	29.62	19.89	11.18	-1.36	-10.32
Earnings From Cont. Operations, 5 Yr. CAGR %	37.56	7.76	-24.51	-14.47	3.41
Net Income, 5 Yr. CAGR %	36.18	5.68	-45.29	-2.95	1.21
Normalized Net Income, 5 Yr. CAGR %	27.59	20.4	9.69	-2.3	-6.68
Diluted EPS Before Extra, 5 Yr. CAGR %	41.96	9.65	-43.34	-3.73	-0.49
Accounts Receivable, 5 Yr. CAGR %	25.08	19.29	14.54	16.22	18.74
Inventory, 5 Yr. CAGR %	-	-	56.42	62.58	65.77
Net Property, Plant and Equip., 5 Yr. CAGR %	57.32	25.97	27.57	28.47	23.93
Total Assets, 5 Yr. CAGR %	12.24	12.97	14.23	18.64	16.74
Tangible Book Value, 5 Yr. CAGR %	-3.02	1.7	-0.21	9.2	8.71
Common Equity, 5 Yr. CAGR %	2.7	4.4	3.13	11.48	9.92
Cash From Operations, 5 Yr. CAGR %	36.19	29.9	40.16	0.51	-24.18
Capital Expenditures, 5 Yr. CAGR %	-	30.6	10.99	74.92	-9.25
Levered Free Cash Flow, 5 Yr. CAGR %	20.8	23.86	0.48	41.71	-29.68
Unlevered Free Cash Flow, 5 Yr. CAGR %	20.89	23.98	1.32	39.25	-27.52
Dividend Per Share, 5 Yr. CAGR %	20.11	20.11	24.57	31.95	3.71