Financials PIA Corporation

Stocks

Delayed Japan Exchange 22:30:00 2026-10-12 EDT			5-day change	1st Jan Change
2,395.00 ^JPY	-0.17%		-1.72%	-9.86%

08-13	PIA Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2027	CI
08-13	PIA Corporation Provides Dividend Guidance for the Fiscal Year Ending March 31, 2027	CI

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
Net sales ¹	25,829	32,763	39,587	45,362	55,330	58,660	63,455	66,628
Change	-	26.85%	20.83%	14.59%	21.97%	6.02%	8.17%	5%
EBITDA ¹	-	-	-	-	6,964	6,051	6,390	6,918
Change	-	-	-	-	-	-13.11%	5.6%	8.26%
EBIT ¹	-833	820	1,209	2,636	4,311	3,051	3,390	3,918
Change	-	198.44%	47.44%	118.03%	63.54%	-29.23%	11.11%	15.58%
Interest Paid	-360	-237	-174	-278	-334	-	-	-
Earnings before Tax (EBT) ¹	-1,317	1,250	895	1,908	4,283	2,751	3,090	3,698
Change	-	194.91%	-28.4%	113.18%	124.48%	-35.77%	12.32%	19.68%
Net income ¹	-1,122	1,415	1,118	1,591	3,317	1,871	2,110	2,538
Change	-	226.11%	-20.99%	42.31%	108.49%	-43.59%	12.77%	20.28%
Announcement Date	5/12/22	5/11/23	5/9/24	5/15/25	5/14/26	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022 Q1	2022 Q3	2023 Q1	2023 Q3	2024 Q1	2024 Q3	2025 Q1	2025 Q3	2026 Q1	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	4,743	11,386	7,577	8,391	9,875	9,064	10,270	10,737	13,667	13,243	15,835	14,186	13,718	13,971	16,785
Change	-	140.06%	-33.45%	10.74%	17.69%	-8.21%	13.31%	4.55%	27.29%	-3.1%	19.57%	-10.41%	-3.3%	1.84%	20.14%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-1,154	898	221	12	910	6	665	361	2,351	947	370	1,031	723	647	649
Change	-	177.82%	-75.39%	-94.57%	7,483.33%	-99.34%	10,983.33%	-45.71%	551.25%	-59.72%	-60.93%	178.65%	-29.87%	-10.51%	0.31%
Charge d'intérêts	-97	-88	-72	-55	-45	-42	-54	-73	-83	-82	-	-88	-	-	-
Earnings before Tax (EBT)	-1,160	896	206	-61	921	-158	649	321	2,371	945	-	1,023	-	-	-
Change	-	177.24%	-77.01%	-129.61%	1,609.84%	-117.16%	510.76%	-50.54%	638.63%	-60.14%	-	-	-	-	-
Net income	-1,179	893	192	-89	895	-186	606	309	1,564	573	-	565	-	-	-
Change	-	175.74%	-78.5%	-146.35%	1,105.62%	-120.78%	425.81%	-49.01%	406.15%	-63.36%	-	-	-	-	-
Announcement Date	8/12/21	2/10/22	8/12/22	2/9/23	8/10/23	2/8/24	8/8/24	2/13/25	8/14/25	2/12/26	5/14/26	8/13/26	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2023 S1	2024 S1	2025 S1	2026 S1
Net sales ¹	15,600	19,665	21,189	26,252
Change	-	26.06%	7.75%	23.89%
EBITDA	-	-	-	-
Change	-	-	-	-
EBIT ¹	440	980	1,228	2,994
Change	-	122.73%	25.31%	143.81%
Charge d'intérêts ¹	-129	-87	-126	-166
Earnings before Tax (EBT) ¹	1,069	948	744	3,076
Change	-	-11.32%	-21.52%	313.44%
Net income ¹	1,029	896	654	1,961
Change	-	-12.93%	-27.01%	199.85%
Announcement Date	11/10/22	11/9/23	11/14/24	11/13/25

¹JPY in Million

Estimates

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
Net Debt	679	-5,132	-15,285	-28,682	-38,935	-	-	-
Change	-	-855.82%	-197.84%	-87.65%	-35.75%	-	-	-
Announcement Date	5/12/22	5/11/23	5/9/24	5/15/25	5/14/26	-	-	-

Estimates

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
CAPEX ¹	2,925	3,363	1,997	2,415	2,886	2,500	2,500	2,500
Change	-	14.97%	-40.62%	20.93%	19.5%	-13.37%	0%	0%
Free Cash Flow (FCF) ¹	10,133	5,992	10,378	12,921	10,259	5,417	5,923	4,945
Change	-	-40.87%	73.2%	24.5%	-20.6%	-47.2%	9.34%	-16.51%
Announcement Date	5/12/22	5/11/23	5/9/24	5/15/25	5/14/26	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
Profitability
EBITDA Margin (%)	-	-	-	-	12.59%	10.32%	10.07%	10.38%
EBIT Margin (%)	-3.23%	2.5%	3.05%	5.81%	7.79%	5.2%	5.34%	5.88%
EBT Margin (%)	-5.1%	3.82%	2.26%	4.21%	7.74%	4.69%	4.87%	5.55%
Net margin (%)	-4.34%	4.32%	2.82%	3.51%	5.99%	3.19%	3.33%	3.81%
FCF margin (%)	39.23%	18.29%	26.22%	28.48%	18.54%	9.23%	9.33%	7.42%
FCF / Net Income (%)	-903.12%	423.46%	928.26%	812.13%	309.29%	289.52%	280.71%	194.84%
Profitability
ROA	-1.44%	0.86%	1.12%	2.47%	3.96%	-	-	-
ROE	-48.2%	39.6%	22.6%	24.9%	36.9%	16.4%	16.3%	17.3%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	0.07x	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	11.32%	10.26%	5.04%	5.32%	5.22%	4.26%	3.94%	3.75%
CAPEX / EBITDA (%)	-	-	-	-	41.44%	41.32%	39.12%	36.14%
CAPEX / FCF (%)	28.87%	56.12%	19.24%	18.69%	28.13%	46.15%	42.21%	50.56%
Items per share
Cash flow per share ¹	98.13	247	236.8	277.7	389.4	-	-	-
Change	-	151.69%	-4.14%	17.3%	40.22%	-	-	-
Dividend per Share ¹	-	-	-	-	35	30	40	50
Change	-	-	-	-	-	-14.29%	33.33%	25%
Book Value Per Share ¹	184.1	285	362.9	472.5	700.4	787.6	895	1,022
Change	-	54.8%	27.33%	30.21%	48.24%	12.45%	13.64%	14.13%
EPS ¹	-74.15	92.77	73.23	104	216.4	121.9	137.5	165.5
Change	-	225.11%	-21.06%	42.06%	107.99%	-43.66%	12.8%	20.36%
Nbr of stocks (in thousands)	15,258	15,272	15,282	15,317	15,348	15,347	15,347	15,347
Announcement Date	5/12/22	5/11/23	5/9/24	5/15/25	5/14/26	-	-	-