Income Statement Path Corporation

Stocks

3840

JP3130250008

Personal Products

Market Closed - Japan Exchange 02:30:00 2026-08-20 EDT			5-day change	1st Jan Change
57.00 ^JPY	+1.79%		+3.64%	-3.39%

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

54651327.p6j8M4XHpIfEduiamMyqHRYVfnF6VioEYVDaRXGQOqk.zO-LccCq_MqwHNrKrLrPLCRdKB8ICRJqBTjpJzr_aP7l_LFU0urTwrA70A

Published financial data: PATH CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022	2023	2024	2025	2026
Revenues	2.11B	1.99B	2.32B	2.25B	2.37B
Total Revenues	2.11B	1.99B	2.32B	2.25B	2.37B
Cost of Goods Sold, Total	1.02B	1.02B	1.22B	1.08B	1.21B
Gross Profit	1.1B	971M	1.1B	1.17B	1.16B
Selling General & Admin Expenses, Total	1.78B	1.19B	1.27B	1.38B	1.93B
Provision for Bad Debts	-13M	-	-	-	137M
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	1.76B	1.19B	1.27B	1.38B	2.07B
Operating Income	-666M	-221M	-172M	-209M	-911M
Interest Expense, Total	-3M	-1M	-	-2M	-6M
Net Interest Expenses	-3M	-1M	-	-2M	-6M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-68M	-3M	3M	-18M	-5M
EBT, Excl. Unusual Items	-737M	-225M	-169M	-229M	-922M
Gain (Loss) On Sale Of Investments	-	-	-	-	398M
Gain (Loss) On Sale Of Assets	-	-	-	-	18M
Asset Writedown	-5M	-28M	-7M	-11M	-776M
Other Unusual Items	-	-	15M	-29M	5M
EBT, Incl. Unusual Items	-742M	-253M	-161M	-269M	-1.28B
Income Tax Expense	3M	3M	14M	7M	-1M
Earnings From Continuing Operations	-745M	-256M	-175M	-276M	-1.28B
Net Income to Company	-745M	-256M	-175M	-276M	-1.28B
Minority Interest	-	-	-	-	-
Net Income - (IS)	-745M	-256M	-175M	-276M	-1.28B
Net Income to Common Incl Extra Items	-745M	-256M	-175M	-276M	-1.28B
Net Income to Common Excl. Extra Items	-745M	-256M	-175M	-276M	-1.28B
Per Share Items
Net EPS - Basic	-20.93	-5.46	-3.29	-4.35	-16.52
Basic EPS - Continuing Operations	-20.93	-5.46	-3.29	-4.35	-16.52
Basic Weighted Average Shares Outstanding	35.59M	46.85M	53.15M	63.45M	77.26M
Net EPS - Diluted	-20.93	-5.46	-3.29	-4.35	-16.52
Diluted EPS - Continuing Operations	-20.93	-5.46	-3.29	-4.35	-16.52
Diluted Weighted Average Shares Outstanding	35.59M	46.85M	53.15M	63.45M	77.26M
Normalized Basic EPS	-12.94	-3	-1.99	-2.26	-7.46
Normalized Diluted EPS	-12.94	-3	-1.99	-2.26	-7.46
Supplemental Items
EBITDA	-637M	-196M	-138M	-165M	-789M
EBITA	-656M	-208M	-148M	-181M	-852M
EBIT	-666M	-221M	-172M	-209M	-911M
Effective Tax Rate - (Ratio)	-0.4	-1.19	-8.7	-2.6	0.08
Normalized Net Income	-461M	-141M	-106M	-143M	-576M
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	629M	202M	253M	274M	568M
Selling and Marketing Expenses	838M	361M	386M	427M	745M
Research And Development Expense From Footnotes	99M	55M	18M	17M	23M

Fiscal Period: March	2022	2023	2024	2025	2026
Assets
Cash And Equivalents	345M	172M	296M	154M	357M
Short Term Investments	-	-	-	179M	-
Total Cash And Short Term Investments	345M	172M	296M	333M	357M
Accounts Receivable, Total	114M	271M	243M	231M	4M
Other Receivables	41M	2M	1M	-	244M
Notes Receivable	-	-	-	-	133M
Total Receivables	155M	273M	244M	231M	381M
Inventory	584M	667M	787M	831M	731M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	84M	81M	39M	145M	365M
Total Current Assets	1.17B	1.19B	1.37B	1.54B	1.83B
Net Property Plant And Equipment	35M	127M	203M	1.42B	510M
Long-term Investments	30M	29M	34M	39M	176M
Goodwill	37M	95M	70M	241M	-
Other Intangibles, Total	1M	3M	2M	6M	4M
Deferred Tax Assets Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	-	3M	2M	2M	2M
Total Assets	1.27B	1.45B	1.68B	3.25B	2.53B
Liabilities
Accounts Payable, Total	91M	114M	268M	182M	146M
Accrued Expenses, Total	13M	16M	18M	17M	17M
Short-term Borrowings	500M	-	-	95M	250M
Current Portion of Long-Term Debt	-	-	-	41M	-
Current Income Taxes Payable	153M	150M	120M	125M	147M
Other Current Liabilities	45M	63M	49M	97M	50M
Total Current Liabilities	802M	343M	455M	557M	610M
Long-Term Debt	-	-	-	156M	-
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	-	1M	5M	12M	-
Other Non Current Liabilities	-	7M	18M	53M	11M
Total Liabilities	802M	351M	478M	778M	621M
Common Stock, Total	599M	988M	1.13B	1.85B	2.21B
Additional Paid In Capital	1.46B	1.94B	2.09B	2.91B	3.28B
Retained Earnings	-1.6B	-1.86B	-2.03B	-2.31B	-3.58B
Comprehensive Income and Other	11M	22M	6M	19M	-
Total Common Equity	469M	1.1B	1.2B	2.47B	1.9B
Minority Interest	-	-	-	-	-
Total Equity	469M	1.1B	1.2B	2.47B	1.9B
Total Liabilities And Equity	1.27B	1.45B	1.68B	3.25B	2.53B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	45.38M	51.51M	58.71M	74.75M	82.68M
ECS Total Common Shares Outstanding	36.94M	51.51M	56.31M	73.38M	82.68M
Book Value / Share	12.69	21.34	21.29	33.72	23.04
Tangible Book Value	431M	1B	1.13B	2.23B	1.9B
Tangible Book Value Per Share	11.67	19.43	20.01	30.35	22.99
Total Debt	500M	0	0	292M	250M
Net Debt	155M	-172M	-296M	-41M	-107M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Equity Method Investments, Total	-	-	-	-	138M
Inventories - Raw Materials, Total	67M	60M	60M	57M	56M
Inventories - Work In Process, Total	-	-	-	22M	-
Inventories - Finished Goods, Total	517M	606M	726M	751M	674M
Inventories - Others	-	1M	1M	1M	1M
Full Time Employees	50	56	46	61	50
Accumulated Allowance for Doubtful Accounts (Supple)	28M	2M	-	2M	133M

Fiscal Period: March	2022	2023	2024	2025	2026
Net Income	-742M	-252M	-160M	-268M	-1.28B
Depreciation & Amortization - CF	19M	12M	10M	16M	63M
Amortization of Goodwill and Intangible Assets - (CF)	10M	13M	24M	28M	59M
Depreciation & Amortization, Total	29M	25M	34M	44M	122M
(Gain) Loss From Sale Of Asset	5M	28M	7M	11M	718M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-398M
Other Operating Activities, Total	0	-8M	-1M	-14M	-3M
Change In Accounts Receivable	66M	-122M	30M	20M	87M
Change In Inventories	-106M	-62M	-120M	-13M	99M
Change In Accounts Payable	-70M	-7M	133M	-94M	-21M
Change in Other Net Operating Assets	-17M	46M	1M	-224M	238M
Cash from Operations	-835M	-352M	-76M	-538M	-435M
Capital Expenditure	-20M	-115M	-82M	-519M	-55M
Sale of Property, Plant, and Equipment	-	-	-	-	1M
Divestitures	-	-	-	-	-55M
Sale (Purchase) of Intangible assets	-2M	-	-	-3M	-1M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	-1M	2M	-5M	-3M	-209M
Cash from Investing	-23M	-113M	-87M	-525M	-319M
Short Term Debt Issued, Total	750M	-	-	330M	300M
Long-Term Debt Issued, Total	-	-	-	-	512M
Total Debt Issued	750M	-	-	330M	812M
Short Term Debt Repaid, Total	-250M	-500M	-	-4M	-20M
Long-Term Debt Repaid, Total	-	-	-	-	-537M
Total Debt Repaid	-250M	-500M	-	-4M	-557M
Issuance of Common Stock	498M	781M	287M	587M	702M
Other Financing Activities, Total	-	-	-	1M	-
Cash from Financing	998M	281M	287M	914M	957M
Miscellaneous Cash Flow Adjustments	-1M	11M	-1M	7M	-1M
Net Change in Cash	139M	-173M	123M	-142M	202M
Supplemental Items
Cash Interest Paid	1M	1M	-	2M	6M
Cash Income Tax Paid (Refund)	1M	6M	4M	12M	6M
Levered Free Cash Flow	-574M	-386M	-92.5M	-781M	-838M
Unlevered Free Cash Flow	-572M	-385M	-92.5M	-780M	-834M
Change In Net Working Capital	163M	157M	-63M	171M	331M
Net Debt Issued / Repaid	500M	-500M	-	326M	255M

Fiscal Period: March	2022	2023	2024	2025	2026
Profitability
Return on Assets	-35.64	-10.15	-6.88	-5.3	-19.71
Return on Total Capital	-50.7	-13.36	-9.36	-6.59	-23.14
Return On Equity %	-130.47	-32.65	-15.23	-15.03	-58.28
Return on Common Equity	-130.47	-32.65	-15.23	-15.03	-58.28
Margin Analysis
Gross Profit Margin %	51.94	48.77	47.46	52.06	48.82
SG&A Margin	84.06	59.87	54.87	61.34	81.48
EBITDA Margin %	-30.13	-9.84	-5.95	-7.32	-33.29
EBITA Margin %	-31.03	-10.45	-6.38	-8.03	-35.95
EBIT Margin %	-31.5	-11.1	-7.41	-9.28	-38.44
Income From Continuing Operations Margin %	-35.24	-12.86	-7.54	-12.25	-53.84
Net Income Margin %	-35.24	-12.86	-7.54	-12.25	-53.84
Net Avail. For Common Margin %	-35.24	-12.86	-7.54	-12.25	-53.84
Normalized Net Income Margin	-21.79	-7.06	-4.55	-6.35	-24.31
Levered Free Cash Flow Margin	-27.16	-19.37	-3.99	-34.66	-35.36
Unlevered Free Cash Flow Margin	-27.07	-19.34	-3.99	-34.6	-35.21
Asset Turnover
Asset Turnover	1.81	1.46	1.48	0.91	0.82
Fixed Assets Turnover	67.11	24.58	14.06	2.77	2.45
Receivables Turnover (Average Receivables)	-248.71	10.34	9.03	9.51	20.17
Inventory Turnover (Average Inventory)	1.91	1.63	1.68	1.33	1.55
Short Term Liquidity
Current Ratio	1.46	3.48	3	2.76	3.01
Quick Ratio	0.62	1.3	1.19	1.01	0.99
Operating Cash Flow to Current Liabilities	-1.04	-1.03	-0.17	-0.97	-0.71
Days Sales Outstanding (Average Receivables)	-1.47	35.29	40.54	38.4	18.1
Days Outstanding Inventory (Average Inventory)	190.76	223.83	218.28	273.41	235.01
Average Days Payable Outstanding	40.83	33.92	52.21	73.06	53.78
Cash Conversion Cycle (Average Days)	148.47	225.2	206.62	238.74	199.32
Long Term Solvency
Total Debt/Equity	106.61	-	-	11.8	13.12
Total Debt / Total Capital	51.6	-	-	10.56	11.6
LT Debt/Equity	-	-	-	6.31	-
Long-Term Debt / Total Capital	-	-	-	5.64	-
Total Liabilities / Total Assets	63.1	24.21	28.5	23.92	24.58
EBIT / Interest Expense	-222	-221	-	-104.5	-151.83
EBITDA / Interest Expense	-212.33	-196	-	-82.5	-131.5
(EBITDA - Capex) / Interest Expense	-219	-311	-	-342	-140.67
Total Debt / EBITDA	-0.78	-	-	-1.77	-0.32
Net Debt / EBITDA	-0.24	0.88	2.14	0.25	0.14
Total Debt / (EBITDA - Capex)	-0.76	-	-	-0.43	-0.3
Net Debt / (EBITDA - Capex)	-0.24	0.55	1.35	0.06	0.13
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-4.26	-5.82	16.52	-2.89	5.19
Gross Profit, 1 Yr. Growth %	2.43	-11.57	13.39	6.54	-1.36
EBITDA, 1 Yr. Growth %	21.8	-69.23	-29.59	19.57	378.18
EBITA, 1 Yr. Growth %	24.01	-68.29	-28.85	22.3	370.72
EBIT, 1 Yr. Growth %	23.56	-66.82	-22.17	21.51	335.89
Earnings From Cont. Operations, 1 Yr. Growth %	38.48	-65.64	-31.64	57.71	362.32
Net Income, 1 Yr. Growth %	38.48	-65.64	-31.64	57.71	362.32
Normalized Net Income, 1 Yr. Growth %	37.24	-69.47	-24.89	35.5	302.62
Diluted EPS Before Extra, 1 Yr. Growth %	14.03	-73.89	-39.74	32.1	279.7
Accounts Receivable, 1 Yr. Growth %	-187.02	137.72	-10.33	-4.94	-98.27
Inventory, 1 Yr. Growth %	22.18	14.21	17.99	5.59	-12.03
Net Property, Plant and Equip., 1 Yr. Growth %	25	262.86	59.84	601.48	-64.19
Total Assets, 1 Yr. Growth %	19.34	14.08	15.66	93.92	-22.32
Tangible Book Value, 1 Yr. Growth %	-30.6	132.25	12.59	97.6	-14.64
Common Equity, 1 Yr. Growth %	-30.31	134.33	9.1	106.34	-23
Cash From Operations, 1 Yr. Growth %	66.33	-57.84	-78.41	607.89	-19.14
Capital Expenditures, 1 Yr. Growth %	-41.18	475	-28.7	532.93	-89.4
Levered Free Cash Flow, 1 Yr. Growth %	83.5	-32.81	-76.02	744.19	7.33
Unlevered Free Cash Flow, 1 Yr. Growth %	82.9	-32.7	-75.98	742.84	7.02
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-7.73	-5.04	4.76	6.38	1.07
Gross Profit, 2 Yr. CAGR %	-9.61	-4.83	0.14	9.91	2.51
EBITDA, 2 Yr. CAGR %	-10.54	-38.78	-53.46	-8.25	139.11
EBITA, 2 Yr. CAGR %	-12.91	-37.29	-52.5	-6.72	139.93
EBIT, 2 Yr. CAGR %	-12.76	-35.97	-49.18	-2.75	130.14
Earnings From Cont. Operations, 2 Yr. CAGR %	-2.58	-31.02	-51.53	3.83	170.03
Net Income, 2 Yr. CAGR %	-2.08	-31.02	-51.53	3.83	170.03
Normalized Net Income, 2 Yr. CAGR %	-7.38	-35.27	-52.11	0.88	133.57
Diluted EPS Before Extra, 2 Yr. CAGR %	-12.78	-45.44	-60.34	-10.78	123.96
Accounts Receivable, 2 Yr. CAGR %	-4.5	43.83	46	-7.67	-87.17
Inventory, 2 Yr. CAGR %	1.13	18.13	16.09	11.62	-3.62
Net Property, Plant and Equip., 2 Yr. CAGR %	318.33	112.97	140.83	234.85	58.5
Total Assets, 2 Yr. CAGR %	2.79	16.68	14.87	49.76	22.73
Tangible Book Value, 2 Yr. CAGR %	-20.56	26.96	61.7	49.16	29.88
Common Equity, 2 Yr. CAGR %	-20.55	27.79	59.89	50.04	26.05
Cash From Operations, 2 Yr. CAGR %	55.57	-16.26	-69.83	23.63	139.24
Capital Expenditures, 2 Yr. CAGR %	5.41	83.91	102.48	112.44	-18.1
Levered Free Cash Flow, 2 Yr. CAGR %	-24.26	11.04	-59.86	42.28	201.01
Unlevered Free Cash Flow, 2 Yr. CAGR %	-24.39	10.95	-59.8	42.28	200.34
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-16.86	-7.1	1.66	2.15	5.98
Gross Profit, 3 Yr. CAGR %	-14.29	-10.27	0.89	2.23	6.02
EBITDA, 3 Yr. CAGR %	103.13	-37.32	-35.86	-36.25	59.08
EBITA, 3 Yr. CAGR %	158.45	-37.82	-34.6	-34.9	60
EBIT, 3 Yr. CAGR %	410.7	-36.79	-31.66	-32.04	60.34
Earnings From Cont. Operations, 3 Yr. CAGR %	44.29	-31.17	-31.23	-28.18	70.82
Net Income, 3 Yr. CAGR %	68.04	-30.93	-31.23	-28.18	70.82
Normalized Net Income, 3 Yr. CAGR %	73.3	-36.02	-31.98	-32.27	60.02
Diluted EPS Before Extra, 3 Yr. CAGR %	55.56	-41.66	-43.6	-40.77	44.59
Accounts Receivable, 3 Yr. CAGR %	-37.9	29.43	22.87	26.54	-75.47
Inventory, 3 Yr. CAGR %	-4.52	5.32	18.08	12.48	3.1
Net Property, Plant and Equip., 3 Yr. CAGR %	-11.79	298.96	93.54	243.94	58.95
Total Assets, 3 Yr. CAGR %	-22.65	6.42	16.34	36.77	20.32
Tangible Book Value, 3 Yr. CAGR %	-32.04	13.59	21.98	72.88	23.84
Common Equity, 3 Yr. CAGR %	-32.44	13.94	21.23	74.08	20.12
Cash From Operations, 3 Yr. CAGR %	58.68	0.67	-46.7	-13.63	7.31
Capital Expenditures, 3 Yr. CAGR %	22.05	85.56	34.1	196.06	-21.8
Levered Free Cash Flow, 3 Yr. CAGR %	30.53	-27.23	-33.38	10.8	29.52
Unlevered Free Cash Flow, 3 Yr. CAGR %	30.39	-27.27	-33.38	10.86	29.4
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-9.05	-10.21	-8.8	-1.93	1.43
Gross Profit, 5 Yr. CAGR %	-10.33	-10.61	-8.79	-2.68	1.54
EBITDA, 5 Yr. CAGR %	26.84	14.18	12.67	-27	8.57
EBITA, 5 Yr. CAGR %	40.69	30.96	31.25	-26.86	10
EBIT, 5 Yr. CAGR %	22.04	61.69	102.91	-24.9	11.07
Earnings From Cont. Operations, 5 Yr. CAGR %	-6.62	35.52	-6.74	-18.87	18.85
Net Income, 5 Yr. CAGR %	-5.47	87.66	2.19	-18.7	18.85
Normalized Net Income, 5 Yr. CAGR %	38.85	31.51	3.6	-23.24	11.42
Diluted EPS Before Extra, 5 Yr. CAGR %	-17.24	58.79	-9.95	-30.85	-2.09
Accounts Receivable, 5 Yr. CAGR %	-19.91	-3.27	-12.58	13.07	-50.23
Inventory, 5 Yr. CAGR %	2.63	6.36	3.24	7.79	8.87
Net Property, Plant and Equip., 5 Yr. CAGR %	-15.86	16.18	31.82	271.96	78.68
Total Assets, 5 Yr. CAGR %	-3.1	-12.38	-9.39	22	18.85
Tangible Book Value, 5 Yr. CAGR %	3.16	-9.31	-3.87	26.67	25.08
Common Equity, 5 Yr. CAGR %	-1.39	-8.84	-4.65	27.2	23.13
Cash From Operations, 5 Yr. CAGR %	43.97	17.98	-18.32	9.29	-2.82
Capital Expenditures, 5 Yr. CAGR %	-25.3	57.15	49.45	95.88	10.1
Levered Free Cash Flow, 5 Yr. CAGR %	21.79	17.33	-18.56	-4.84	21.78
Unlevered Free Cash Flow, 5 Yr. CAGR %	21.71	17.29	-18.56	-4.87	21.67