Income Statement Path Corporation

Stocks

3840

JP3130250008

Personal Products

Delayed Japan Exchange Other stock markets 00:39:23 2026-06-15 EDT			5-day change	1st Jan Change
55.00 ^JPY	-1.79%		-5.17%	-6.78%

03-30	Uniroot Co., Ltd. completed the acquisition of Sanwa Seisakusho Co., Ltd. from Path Corporation for ¥800.	CI
11-30	Path Corporation announced that it has received ¥2.5 million in funding from Evolution Capital Management LLC, Sustaina Co., Ltd.	CI

f2433f3f208d1199.rzzhRiMi2CSvDzGEJG2AqZ1qQV2nU1WVhPYpXYOPzZM.4GOyAk5Sk2XZRFq1awPm-NckIyWSZwagwLxuDtvfhr7VcZgiTUm0bedGcA

Published financial data: PATH CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	2.21B	2.11B	1.99B	2.32B	2.25B
Total Revenues	2.21B	2.11B	1.99B	2.32B	2.25B
Cost of Goods Sold, Total	1.14B	1.02B	1.02B	1.22B	1.08B
Gross Profit	1.07B	1.1B	971M	1.1B	1.17B
Selling General & Admin Expenses, Total	1.62B	1.78B	1.19B	1.27B	1.38B
Provision for Bad Debts	-	-13M	-	-	-
Other Operating Expenses	-10M	-	-	-	-
Other Operating Expenses, Total	1.61B	1.76B	1.19B	1.27B	1.38B
Operating Income	-539M	-666M	-221M	-172M	-209M
Interest Expense, Total	-	-3M	-1M	-	-2M
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-	-3M	-1M	-	-2M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	2M	-68M	-3M	3M	-18M
EBT, Excl. Unusual Items	-537M	-737M	-225M	-169M	-229M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-5M	-28M	-7M	-11M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	15M	-29M
EBT, Incl. Unusual Items	-537M	-742M	-253M	-161M	-269M
Income Tax Expense	1M	3M	3M	14M	7M
Earnings From Continuing Operations	-538M	-745M	-256M	-175M	-276M
Net Income to Company	-538M	-745M	-256M	-175M	-276M
Minority Interest	-	-	-	-	-
Net Income - (IS)	-538M	-745M	-256M	-175M	-276M
Net Income to Common Incl Extra Items	-538M	-745M	-256M	-175M	-276M
Net Income to Common Excl. Extra Items	-538M	-745M	-256M	-175M	-276M
Per Share Items
Net EPS - Basic	-18.35	-20.93	-5.46	-3.29	-4.35
Basic EPS - Continuing Operations	-18.35	-20.93	-5.46	-3.29	-4.35
Basic Weighted Average Shares Outstanding	29.31M	35.59M	46.85M	53.15M	63.45M
Net EPS - Diluted	-18.35	-20.93	-5.46	-3.29	-4.35
Diluted EPS - Continuing Operations	-18.35	-20.93	-5.46	-3.29	-4.35
Diluted Weighted Average Shares Outstanding	29.31M	35.59M	46.85M	53.15M	63.45M
Normalized Basic EPS	-11.45	-12.94	-3	-1.99	-2.26
Normalized Diluted EPS	-11.45	-12.94	-3	-1.99	-2.26
Supplemental Items
EBITDA	-523M	-637M	-196M	-138M	-165M
EBITA	-529M	-656M	-208M	-148M	-181M
EBIT	-539M	-666M	-221M	-172M	-209M
Effective Tax Rate - (Ratio)	-0.19	-0.4	-1.19	-8.7	-2.6
Normalized Net Income	-336M	-461M	-141M	-106M	-143M
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	494M	629M	202M	253M	274M
Selling and Marketing Expenses	677M	838M	361M	386M	427M
General and Administrative Expenses	-	-	-	-	-
Research And Development Expense From Footnotes	37M	99M	55M	18M	17M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	205M	345M	172M	296M	154M
Short Term Investments	-	-	-	-	179M
Total Cash And Short Term Investments	205M	345M	172M	296M	333M
Accounts Receivable, Total	-131M	114M	271M	243M	231M
Other Receivables	2M	41M	2M	1M	-
Notes Receivable	330M	-	-	-	-
Total Receivables	201M	155M	273M	244M	231M
Inventory	478M	584M	667M	787M	831M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	71M	84M	81M	39M	145M
Total Current Assets	955M	1.17B	1.19B	1.37B	1.54B
Net Property Plant And Equipment	28M	35M	127M	203M	1.42B
Long-term Investments	28M	30M	29M	34M	39M
Goodwill	48M	37M	95M	70M	241M
Other Intangibles, Total	4M	1M	3M	2M	6M
Deferred Tax Assets Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	2M	-	3M	2M	2M
Total Assets	1.06B	1.27B	1.45B	1.68B	3.25B
Liabilities
Accounts Payable, Total	160M	91M	114M	268M	182M
Accrued Expenses, Total	17M	13M	16M	18M	17M
Short-term Borrowings	-	500M	-	-	95M
Current Portion of Long-Term Debt	-	-	-	-	41M
Current Income Taxes Payable	140M	153M	150M	120M	125M
Other Current Liabilities	75M	45M	63M	49M	97M
Total Current Liabilities	392M	802M	343M	455M	557M
Long-Term Debt	-	-	-	-	156M
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	-	-	1M	5M	12M
Other Non Current Liabilities	-	-	7M	18M	53M
Total Liabilities	392M	802M	351M	478M	778M
Common Stock, Total	332M	599M	988M	1.13B	1.85B
Additional Paid In Capital	1.19B	1.46B	1.94B	2.09B	2.91B
Retained Earnings	-854M	-1.6B	-1.86B	-2.03B	-2.31B
Comprehensive Income and Other	4M	11M	22M	6M	19M
Total Common Equity	673M	469M	1.1B	1.2B	2.47B
Minority Interest	-	-	-	-	-
Total Equity	673M	469M	1.1B	1.2B	2.47B
Total Liabilities And Equity	1.06B	1.27B	1.45B	1.68B	3.25B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	33.17M	45.38M	51.51M	58.71M	74.75M
ECS Total Common Shares Outstanding	31.63M	36.94M	51.51M	56.31M	73.38M
Book Value / Share	21.28	12.69	21.34	21.29	33.72
Tangible Book Value	621M	431M	1B	1.13B	2.23B
Tangible Book Value Per Share	19.64	11.67	19.43	20.01	30.35
Total Debt	0	500M	0	0	292M
Net Debt	-205M	155M	-172M	-296M	-41M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Inventories - Raw Materials, Total	61M	67M	60M	60M	57M
Inventories - Work In Process, Total	-	-	-	-	22M
Inventories - Finished Goods, Total	417M	517M	606M	726M	751M
Inventories - Others	-	-	1M	1M	1M
Full Time Employees	50	50	56	46	61
Accumulated Allowance for Doubtful Accounts (Supple)	339M	28M	2M	-	2M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	-536M	-742M	-252M	-160M	-268M
Depreciation & Amortization - CF	6M	19M	12M	10M	16M
Amortization of Goodwill and Intangible Assets - (CF)	10M	10M	13M	24M	28M
Depreciation & Amortization, Total	16M	29M	25M	34M	44M
(Gain) Loss From Sale Of Asset	-	5M	28M	7M	11M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Other Operating Activities, Total	-4M	0	-8M	-1M	-14M
Change In Accounts Receivable	4M	66M	-122M	30M	20M
Change In Inventories	92M	-106M	-62M	-120M	-13M
Change In Accounts Payable	-32M	-70M	-7M	133M	-94M
Change in Other Net Operating Assets	-42M	-17M	46M	1M	-224M
Cash from Operations	-502M	-835M	-352M	-76M	-538M
Capital Expenditure	-34M	-20M	-115M	-82M	-519M
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-3M	-2M	-	-	-3M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	38M	-1M	2M	-5M	-3M
Cash from Investing	1M	-23M	-113M	-87M	-525M
Short Term Debt Issued, Total	80M	750M	-	-	330M
Total Debt Issued	80M	750M	-	-	330M
Short Term Debt Repaid, Total	-80M	-250M	-500M	-	-4M
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-80M	-250M	-500M	-	-4M
Issuance of Common Stock	454M	498M	781M	287M	587M
Other Financing Activities, Total	-	-	-	-	1M
Cash from Financing	454M	998M	281M	287M	914M
Miscellaneous Cash Flow Adjustments	1M	-1M	11M	-1M	7M
Net Change in Cash	-46M	139M	-173M	123M	-142M
Supplemental Items
Cash Interest Paid	-	1M	1M	-	2M
Cash Income Tax Paid (Refund)	4M	1M	6M	4M	12M
Levered Free Cash Flow	-313M	-574M	-386M	-92.5M	-781M
Unlevered Free Cash Flow	-313M	-572M	-385M	-92.5M	-780M
Change In Net Working Capital	-45M	163M	157M	-63M	171M
Net Debt Issued / Repaid	0	500M	-500M	-	326M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	-29.71	-35.64	-10.15	-6.88	-5.3
Return on Total Capital	-47.58	-50.7	-13.36	-9.36	-6.59
Return On Equity %	-75.99	-130.47	-32.65	-15.23	-15.03
Return on Common Equity	-75.99	-130.47	-32.65	-15.23	-15.03
Margin Analysis
Gross Profit Margin %	48.55	51.94	48.77	47.46	52.06
SG&A Margin	73.41	84.06	59.87	54.87	61.34
EBITDA Margin %	-23.69	-30.13	-9.84	-5.95	-7.32
EBITA Margin %	-23.96	-31.03	-10.45	-6.38	-8.03
EBIT Margin %	-24.41	-31.5	-11.1	-7.41	-9.28
Income From Continuing Operations Margin %	-24.37	-35.24	-12.86	-7.54	-12.25
Net Income Margin %	-24.37	-35.24	-12.86	-7.54	-12.25
Net Avail. For Common Margin %	-24.37	-35.24	-12.86	-7.54	-12.25
Normalized Net Income Margin	-15.2	-21.79	-7.06	-4.55	-6.35
Levered Free Cash Flow Margin	-14.17	-27.16	-19.37	-3.99	-34.66
Unlevered Free Cash Flow Margin	-14.17	-27.07	-19.34	-3.99	-34.6
Asset Turnover
Asset Turnover	1.95	1.81	1.46	1.48	0.91
Fixed Assets Turnover	147.2	67.11	24.58	14.06	2.77
Receivables Turnover (Average Receivables)	-17.25	-248.71	10.34	9.03	9.51
Inventory Turnover (Average Inventory)	2.17	1.91	1.63	1.68	1.33
Short Term Liquidity
Current Ratio	2.44	1.46	3.48	3	2.76
Quick Ratio	0.19	0.62	1.3	1.19	1.01
Operating Cash Flow to Current Liabilities	-1.28	-1.04	-1.03	-0.17	-0.97
Days Sales Outstanding (Average Receivables)	-21.16	-1.47	35.29	40.54	38.4
Days Outstanding Inventory (Average Inventory)	168.52	190.76	223.83	218.28	273.41
Average Days Payable Outstanding	57.22	40.83	33.92	52.21	73.06
Cash Conversion Cycle (Average Days)	90.15	148.47	225.2	206.62	238.74
Long Term Solvency
Total Debt/Equity	-	106.61	-	-	11.8
Total Debt / Total Capital	-	51.6	-	-	10.56
LT Debt/Equity	-	-	-	-	6.31
Long-Term Debt / Total Capital	-	-	-	-	5.64
Total Liabilities / Total Assets	36.81	63.1	24.21	28.5	23.92
EBIT / Interest Expense	-	-222	-221	-	-104.5
EBITDA / Interest Expense	-	-212.33	-196	-	-82.5
(EBITDA - Capex) / Interest Expense	-	-219	-311	-	-342
Total Debt / EBITDA	-	-0.78	-	-	-1.77
Net Debt / EBITDA	0.39	-0.24	0.88	2.14	0.25
Total Debt / (EBITDA - Capex)	-	-0.76	-	-	-0.43
Net Debt / (EBITDA - Capex)	0.37	-0.24	0.55	1.35	0.06
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-11.08	-4.26	-5.82	16.52	-2.89
Gross Profit, 1 Yr. Growth %	-20.24	2.43	-11.57	13.39	6.54
EBITDA, 1 Yr. Growth %	-34.3	21.8	-69.23	-29.59	19.57
EBITA, 1 Yr. Growth %	-38.84	24.01	-68.29	-28.85	22.3
EBIT, 1 Yr. Growth %	-38.4	23.56	-66.82	-22.17	21.51
Earnings From Cont. Operations, 1 Yr. Growth %	-31.46	38.48	-65.64	-31.64	57.71
Net Income, 1 Yr. Growth %	-30.76	38.48	-65.64	-31.64	57.71
Normalized Net Income, 1 Yr. Growth %	-37.5	37.24	-69.47	-24.89	35.5
Diluted EPS Before Extra, 1 Yr. Growth %	-33.29	14.03	-73.89	-39.74	32.1
Accounts Receivable, 1 Yr. Growth %	4.8	-187.02	137.72	-10.33	-4.94
Inventory, 1 Yr. Growth %	-16.29	22.18	14.21	17.99	5.59
Net Property, Plant and Equip., 1 Yr. Growth %	1.3K	25	262.86	59.84	601.48
Total Assets, 1 Yr. Growth %	-11.47	19.34	14.08	15.66	93.92
Tangible Book Value, 1 Yr. Growth %	-9.08	-30.6	132.25	12.59	97.6
Common Equity, 1 Yr. Growth %	-9.42	-30.31	134.33	9.1	106.34
Cash From Operations, 1 Yr. Growth %	45.51	66.33	-57.84	-78.41	607.89
Capital Expenditures, 1 Yr. Growth %	88.89	-41.18	475	-28.7	532.93
Levered Free Cash Flow, 1 Yr. Growth %	-68.74	83.5	-32.81	-76.02	744.19
Unlevered Free Cash Flow, 1 Yr. Growth %	-68.74	82.9	-32.7	-75.98	742.84
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-22.52	-7.73	-5.04	4.76	6.38
Gross Profit, 2 Yr. CAGR %	-21.6	-9.61	-4.83	0.14	9.91
EBITDA, 2 Yr. CAGR %	162.33	-10.54	-38.78	-53.46	-8.25
EBITA, 2 Yr. CAGR %	273.11	-12.91	-37.29	-52.5	-6.72
EBIT, 2 Yr. CAGR %	938.27	-12.76	-35.97	-49.18	-2.75
Earnings From Cont. Operations, 2 Yr. CAGR %	47.29	-2.58	-31.02	-51.53	3.83
Net Income, 2 Yr. CAGR %	85.11	-2.08	-31.02	-51.53	3.83
Normalized Net Income, 2 Yr. CAGR %	94.74	-7.38	-35.27	-52.11	0.88
Diluted EPS Before Extra, 2 Yr. CAGR %	81.7	-12.78	-45.44	-60.34	-10.78
Accounts Receivable, 2 Yr. CAGR %	-47.54	-4.5	43.83	46	-7.67
Inventory, 2 Yr. CAGR %	-15.6	1.13	18.13	16.09	11.62
Net Property, Plant and Equip., 2 Yr. CAGR %	-25.9	318.33	112.97	140.83	234.85
Total Assets, 2 Yr. CAGR %	-37.72	2.79	16.68	14.87	49.76
Tangible Book Value, 2 Yr. CAGR %	-32.75	-20.56	26.96	61.7	49.16
Common Equity, 2 Yr. CAGR %	-33.48	-20.55	27.79	59.89	50.04
Cash From Operations, 2 Yr. CAGR %	54.98	55.57	-16.26	-69.83	23.63
Capital Expenditures, 2 Yr. CAGR %	75.81	5.41	83.91	102.48	112.44
Levered Free Cash Flow, 2 Yr. CAGR %	10.1	-24.26	11.04	-59.86	42.28
Unlevered Free Cash Flow, 2 Yr. CAGR %	10.1	-24.39	10.95	-59.8	42.28
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-13.5	-16.86	-7.1	1.66	2.15
Gross Profit, 3 Yr. CAGR %	-14.26	-14.29	-10.27	0.89	2.23
EBITDA, 3 Yr. CAGR %	73.01	103.13	-37.32	-35.86	-36.25
EBITA, 3 Yr. CAGR %	113.97	158.45	-37.82	-34.6	-34.9
EBIT, 3 Yr. CAGR %	199.81	410.7	-36.79	-31.66	-32.04
Earnings From Cont. Operations, 3 Yr. CAGR %	112.58	44.29	-31.17	-31.23	-28.18
Net Income, 3 Yr. CAGR %	265.7	68.04	-30.93	-31.23	-28.18
Normalized Net Income, 3 Yr. CAGR %	110.96	73.3	-36.02	-31.98	-32.27
Diluted EPS Before Extra, 3 Yr. CAGR %	223.7	55.56	-41.66	-43.6	-40.77
Accounts Receivable, 3 Yr. CAGR %	-25.75	-37.9	29.43	22.87	26.54
Inventory, 3 Yr. CAGR %	-0.82	-4.52	5.32	18.08	12.48
Net Property, Plant and Equip., 3 Yr. CAGR %	-22.43	-11.79	298.96	93.54	243.94
Total Assets, 3 Yr. CAGR %	-27.61	-22.65	6.42	16.34	36.77
Tangible Book Value, 3 Yr. CAGR %	-27.54	-32.04	13.59	21.98	72.88
Common Equity, 3 Yr. CAGR %	-27.22	-32.44	13.94	21.23	74.08
Cash From Operations, 3 Yr. CAGR %	48.27	58.68	0.67	-46.7	-13.63
Capital Expenditures, 3 Yr. CAGR %	41.5	22.05	85.56	34.1	196.06
Levered Free Cash Flow, 3 Yr. CAGR %	21.72	30.53	-27.23	-33.38	10.8
Unlevered Free Cash Flow, 3 Yr. CAGR %	21.72	30.39	-27.27	-33.38	10.86
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.26	-9.05	-10.21	-8.8	-1.93
Gross Profit, 5 Yr. CAGR %	6.13	-10.33	-10.61	-8.79	-2.68
EBITDA, 5 Yr. CAGR %	1.44	26.84	14.18	12.67	-27
EBITA, 5 Yr. CAGR %	0.31	40.69	30.96	31.25	-26.86
EBIT, 5 Yr. CAGR %	-0.22	22.04	61.69	102.91	-24.9
Earnings From Cont. Operations, 5 Yr. CAGR %	-0.26	-6.62	35.52	-6.74	-18.87
Net Income, 5 Yr. CAGR %	2.14	-5.47	87.66	2.19	-18.7
Normalized Net Income, 5 Yr. CAGR %	2.82	38.85	31.51	3.6	-23.24
Diluted EPS Before Extra, 5 Yr. CAGR %	-10.78	-17.24	58.79	-9.95	-30.85
Accounts Receivable, 5 Yr. CAGR %	-20.05	-19.91	-3.27	-12.58	13.07
Inventory, 5 Yr. CAGR %	0.55	2.63	6.36	3.24	7.79
Net Property, Plant and Equip., 5 Yr. CAGR %	-19.53	-15.86	16.18	31.82	271.96
Total Assets, 5 Yr. CAGR %	-12.51	-3.1	-12.38	-9.39	22
Tangible Book Value, 5 Yr. CAGR %	-5.77	3.16	-9.31	-3.87	26.67
Common Equity, 5 Yr. CAGR %	-12.85	-1.39	-8.84	-4.65	27.2
Cash From Operations, 5 Yr. CAGR %	3.58	43.97	17.98	-18.32	9.29
Capital Expenditures, 5 Yr. CAGR %	-2.2	-25.3	57.15	49.45	95.88
Levered Free Cash Flow, 5 Yr. CAGR %	-15.13	21.79	17.33	-18.56	-4.84
Unlevered Free Cash Flow, 5 Yr. CAGR %	-15.13	21.71	17.29	-18.56	-4.87