Income Statement OpenWork Inc.

Stocks

5139

JP3173570007

Internet Services

Delayed Japan Exchange 22:30:00 2026-09-14 EDT			5-day change	1st Jan Change
918.00 ^JPY	+1.10%		-1.82%	-12.99%

03-31	OpenWork Inc. completed the acquisition of BNG Partners Inc from Jiro Kuramoto and others.	CI
03-16	OpenWork Inc. agreed to acquire BNG Partners Inc from Jiro Kuramoto and others.	CI

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Published financial data: OPENWORK INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (JPY)	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)
Revenues	1.54B	2.04B	2.92B	3.54B	4.65B
Total Revenues	1.54B	2.04B	2.92B	3.54B	4.65B
Cost of Goods Sold, Total	1.21B	-	-	-	-
Gross Profit	324M	2.04B	2.92B	3.54B	4.65B
Selling General & Admin Expenses, Total	-	1.42B	2.06B	2.5B	3.44B
Depreciation & Amortization - (IS)	-	6M	8M	14M	16M
Other Operating Expenses, Total	-	1.42B	2.07B	2.52B	3.45B
Operating Income	324M	612M	856M	1.03B	1.2B
Interest And Investment Income	-	-	-	-	9M
Net Interest Expenses	-	-	-	-	9M
Other Non Operating Income (Expenses)	-	-23M	-4M	-1M	-7M
EBT, Excl. Unusual Items	324M	589M	852M	1.03B	1.2B
Asset Writedown	-	-	-	-	-2M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	324M	589M	852M	1.03B	1.2B
Income Tax Expense	92M	186M	239M	269M	362M
Earnings From Continuing Operations	232M	403M	613M	757M	837M
Net Income to Company	232M	403M	613M	757M	837M
Net Income - (IS)	232M	403M	613M	757M	837M
Net Income to Common Incl Extra Items	232M	403M	613M	757M	837M
Net Income to Common Excl. Extra Items	232M	403M	613M	757M	837M
Per Share Items
Net EPS - Basic	50	86.42	28.87	35.55	40.21
Basic EPS - Continuing Operations	50	86.42	28.87	35.55	40.21
Basic Weighted Average Shares Outstanding	4.64M	4.66M	21.23M	21.29M	20.81M
Net EPS - Diluted	50	85.42	28.64	35.54	39.97
Diluted EPS - Continuing Operations	50	85.42	28.64	35.54	39.97
Diluted Weighted Average Shares Outstanding	4.64M	4.72M	21.4M	21.3M	20.94M
Normalized Basic EPS	43.64	78.94	25.08	30.12	36.06
Normalized Diluted EPS	43.64	78.03	24.88	30.11	35.85
Supplemental Items
EBITDA	-	618M	864M	1.04B	1.22B
EBITA	324M	612M	856M	1.03B	1.2B
EBIT	324M	612M	856M	1.03B	1.2B
Effective Tax Rate - (Ratio)	28.4	31.58	28.05	26.22	30.19
Normalized Net Income	202M	368M	532M	641M	751M
Supplemental Operating Expense Items
Advertising Expense	-	287M	634M	700M	1.08B
Selling and Marketing Expenses	-	287M	634M	700M	1.08B

Fiscal Period: December	2021 (JPY)	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)
Assets
Cash And Equivalents	2.81B	4.8B	5.95B	6.62B	7.63B
Total Cash And Short Term Investments	2.81B	4.8B	5.95B	6.62B	7.63B
Accounts Receivable, Total	141M	202M	253M	323M	437M
Total Receivables	141M	202M	253M	323M	437M
Prepaid Expenses	9M	11M	21M	59M	97M
Other Current Assets, Total	5M	5M	3M	44M	16M
Total Current Assets	2.97B	5.02B	6.23B	7.05B	8.18B
Net Property Plant And Equipment	11M	12M	22M	28M	26M
Long-term Investments	16M	16M	36M	57M	36M
Deferred Tax Assets Long-Term	63M	86M	99M	110M	160M
Other Long-Term Assets, Total	2M	-	1M	1M	1M
Total Assets	3.06B	5.13B	6.39B	7.24B	8.41B
Liabilities
Accounts Payable, Total	-	1M	-	3M	7M
Accrued Expenses, Total	41M	73M	95M	68M	100M
Current Income Taxes Payable	159M	276M	394M	464M	722M
Unearned Revenue Current, Total	9M	-	-	-	-
Other Current Liabilities	41M	111M	176M	248M	709M
Total Current Liabilities	250M	461M	665M	783M	1.54B
Other Non Current Liabilities	1M	1M	-	-	-
Total Liabilities	251M	462M	665M	783M	1.54B
Common Stock, Total	649M	1.38B	1.64B	1.65B	1.65B
Additional Paid In Capital	629M	1.36B	1.62B	1.63B	1.63B
Retained Earnings	1.53B	1.93B	2.55B	3.29B	4.12B
Treasury Stock	-	-	-94M	-105M	-527M
Comprehensive Income and Other	1M	1M	2M	1M	1M
Total Common Equity	2.81B	4.67B	5.72B	6.46B	6.87B
Total Equity	2.81B	4.67B	5.72B	6.46B	6.87B
Total Liabilities And Equity	3.06B	5.13B	6.39B	7.24B	8.41B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	4.64M	4.73M	69.01M	21.31M	20.72M
ECS Total Common Shares Outstanding	4.64M	4.73M	69.01M	21.31M	20.72M
Book Value / Share	605.6	985.97	82.94	303.09	331.53
Tangible Book Value	2.81B	4.67B	5.72B	6.46B	6.87B
Tangible Book Value Per Share	605.6	985.97	82.94	303.09	331.53
Total Debt	0	0	0	0	0
Net Debt	-2.81B	-4.8B	-5.95B	-6.62B	-7.63B
Full Time Employees	-	81	100	126	148

Fiscal Period: December	2021 (JPY)	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)
Net Income	-	589M	853M	1.03B	1.2B
Depreciation & Amortization - CF	-	6M	8M	14M	16M
Depreciation & Amortization, Total	-	6M	8M	14M	16M
(Gain) Loss From Sale Of Asset	-	-	-	-	2M
Other Operating Activities, Total	-	-98M	-266M	-275M	-292M
Change In Accounts Receivable	-	-60M	-50M	-70M	-114M
Change In Accounts Payable	-	29M	148M	79M	147M
Change in Other Net Operating Assets	-	88M	62M	32M	466M
Cash from Operations	-	554M	755M	807M	1.42B
Capital Expenditure	-	-6M	-20M	-20M	-13M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-3B
Other Investing Activities, Total	-	-	-14M	-	-1M
Cash from Investing	-	-6M	-34M	-20M	-3.01B
Issuance of Common Stock	-	1.45B	536M	10M	24M
Repurchase of Common Stock	-	-	-94M	-94M	-458M
Other Financing Activities, Total	-	-19M	-8M	-	-
Cash from Financing	-	1.44B	434M	-84M	-434M
Miscellaneous Cash Flow Adjustments	-	-1M	1M	-	1M
Net Change in Cash	-	1.98B	1.16B	703M	-2.02B
Supplemental Items
Cash Income Tax Paid (Refund)	-	100M	267M	274M	291M
Levered Free Cash Flow	-	530M	668M	605M	1.38B
Unlevered Free Cash Flow	-	530M	668M	605M	1.38B
Change In Net Working Capital	34M	-148M	-145M	31M	-631M

Fiscal Period: December	2021 (JPY)	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)
Profitability
Return on Assets	6.85	9.34	9.29	9.42	9.58
Return on Total Capital	7.52	10.23	10.3	10.54	11.25
Return On Equity %	8.61	10.78	11.8	12.43	12.56
Return on Common Equity	8.61	10.78	11.8	12.43	12.56
Margin Analysis
Gross Profit Margin %	21.11	100	100	100	100
SG&A Margin	-	69.66	70.43	70.61	73.89
EBITDA Margin %	-	30.34	29.57	29.39	26.11
EBITA Margin %	21.11	30.04	29.3	28.99	25.77
EBIT Margin %	21.11	30.04	29.3	28.99	25.77
Income From Continuing Operations Margin %	15.11	19.78	20.98	21.37	17.99
Net Income Margin %	15.11	19.78	20.98	21.37	17.99
Net Avail. For Common Margin %	15.11	19.78	20.98	21.37	17.99
Normalized Net Income Margin	13.19	18.07	18.22	18.1	16.13
Levered Free Cash Flow Margin	-	26.04	22.86	17.08	29.73
Unlevered Free Cash Flow Margin	-	26.04	22.86	17.08	29.73
Asset Turnover
Asset Turnover	0.52	0.5	0.51	0.52	0.59
Fixed Assets Turnover	139.55	177.13	171.88	141.68	172.33
Receivables Turnover (Average Receivables)	11.81	11.88	12.84	12.3	12.24
Short Term Liquidity
Current Ratio	11.88	10.88	9.37	9	5.32
Quick Ratio	11.82	10.84	9.33	8.87	5.25
Operating Cash Flow to Current Liabilities	-	1.2	1.14	1.03	0.93
Days Sales Outstanding (Average Receivables)	30.91	30.73	28.42	29.76	29.81
Long Term Solvency
Total Liabilities / Total Assets	8.2	9.01	10.41	10.81	18.3
Net Debt / EBITDA	-	-7.76	-6.89	-6.36	-6.28
Net Debt / (EBITDA - Capex)	-	-7.84	-7.05	-6.48	-6.35
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	5.14	32.7	43.45	21.22	31.37
Gross Profit, 1 Yr. Growth %	36.71	528.7	43.45	21.22	31.37
EBITDA, 1 Yr. Growth %	-	-	39.81	20.49	16.71
EBITA, 1 Yr. Growth %	36.71	88.89	39.87	19.98	16.75
EBIT, 1 Yr. Growth %	36.71	88.89	39.87	19.98	16.75
Earnings From Cont. Operations, 1 Yr. Growth %	39.76	73.71	52.11	23.49	10.57
Net Income, 1 Yr. Growth %	39.76	73.71	52.11	23.49	10.57
Normalized Net Income, 1 Yr. Growth %	36.13	81.79	44.65	20.42	17.06
Diluted EPS Before Extra, 1 Yr. Growth %	38.89	70.84	-66.47	24.09	12.46
Accounts Receivable, 1 Yr. Growth %	18.49	43.26	25.25	27.67	35.29
Net Property, Plant and Equip., 1 Yr. Growth %	0	9.09	83.33	27.27	-7.14
Total Assets, 1 Yr. Growth %	7.37	67.56	24.57	13.37	16.06
Tangible Book Value, 1 Yr. Growth %	9	66.09	22.65	12.86	6.32
Common Equity, 1 Yr. Growth %	9	66.09	22.65	12.86	6.32
Cash From Operations, 1 Yr. Growth %	-	-	36.28	6.89	76.46
Capital Expenditures, 1 Yr. Growth %	-	-	233.33	0	-35
Levered Free Cash Flow, 1 Yr. Growth %	-	-	25.92	-9.45	128.7
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	25.92	-9.45	128.7
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	18.12	37.97	31.86	26.19
Gross Profit, 2 Yr. CAGR %	-	193.17	200.31	31.86	26.19
EBITDA, 2 Yr. CAGR %	-	-	-	29.79	18.59
EBITA, 2 Yr. CAGR %	-	60.69	62.54	29.54	18.35
EBIT, 2 Yr. CAGR %	-	60.69	62.54	29.54	18.35
Earnings From Cont. Operations, 2 Yr. CAGR %	-	55.81	62.55	37.06	16.85
Net Income, 2 Yr. CAGR %	-	55.81	62.55	37.06	16.85
Normalized Net Income, 2 Yr. CAGR %	-	57.31	62.16	31.98	18.73
Diluted EPS Before Extra, 2 Yr. CAGR %	-	54.04	-24.32	-35.5	18.14
Accounts Receivable, 2 Yr. CAGR %	-	30.29	33.95	26.45	31.43
Net Property, Plant and Equip., 2 Yr. CAGR %	-	4.45	41.42	52.75	8.71
Total Assets, 2 Yr. CAGR %	-	34.13	44.47	18.83	14.7
Tangible Book Value, 2 Yr. CAGR %	-	34.55	42.72	17.65	9.54
Common Equity, 2 Yr. CAGR %	-	34.55	42.72	17.65	9.54
Cash From Operations, 2 Yr. CAGR %	-	-	-	20.69	37.34
Capital Expenditures, 2 Yr. CAGR %	-	-	-	82.57	-19.38
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	6.78	43.91
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	6.78	43.91
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	26.02	32.14	31.7
Gross Profit, 3 Yr. CAGR %	-	-	131.02	121.94	31.7
EBITDA, 3 Yr. CAGR %	-	-	-	-	25.27
EBITA, 3 Yr. CAGR %	-	-	53.43	46.9	25.13
EBIT, 3 Yr. CAGR %	-	-	53.43	46.9	25.13
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	54.57	48.32	27.59
Net Income, 3 Yr. CAGR %	-	-	54.57	48.32	27.59
Normalized Net Income, 3 Yr. CAGR %	-	-	52.98	46.85	26.81
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-7.34	-10.76	-22.36
Accounts Receivable, 3 Yr. CAGR %	-	-	28.59	31.82	29.33
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	25.99	36.54	29.4
Total Assets, 3 Yr. CAGR %	-	-	30.86	33.26	17.9
Tangible Book Value, 3 Yr. CAGR %	-	-	30.46	31.98	13.74
Common Equity, 3 Yr. CAGR %	-	-	30.46	31.98	13.74
Cash From Operations, 3 Yr. CAGR %	-	-	-	-	36.98
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-	29.4
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	37.64
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	37.64
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	26.09
Gross Profit, 5 Yr. CAGR %	-	-	-	-	81.38
EBITA, 5 Yr. CAGR %	-	-	-	-	38.3
EBIT, 5 Yr. CAGR %	-	-	-	-	38.3
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-	38.2
Net Income, 5 Yr. CAGR %	-	-	-	-	38.2
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-	38.23
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	2.12
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	29.71
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	18.77
Total Assets, 5 Yr. CAGR %	-	-	-	-	24.14
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	21.65
Common Equity, 5 Yr. CAGR %	-	-	-	-	21.65