Cash flow Tokyo Electron Limited

Equities

8035

JP3571400005

Semiconductor Equipment & Testing

Delayed Japan Exchange Other stock markets 07:58:04 10/02/2026 am IST			5-day change	1st Jan Change
41,390.00 ^JPY	+1.95%		-0.46%	+20.54%

09/02	Jefferies Adjusts Tokyo Electron's Price Target to 48,000 Yen from 43,000 Yen, Keeps at Buy	MT
09/02	Ardentec buys machinery from Advantest Taiwan Inc for T$3.37 bln	RE

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Published financial data: TOKYO ELECTRON LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	1,39900Cr	2,00400Cr	2,20900Cr	1,83100Cr	2,43200Cr
Total Revenues	1,39900Cr	2,00400Cr	2,20900Cr	1,83100Cr	2,43200Cr
Cost of Goods Sold, Total	83TCr	1,09200Cr	1,22500Cr	1,00000Cr	1,28500Cr
Gross Profit	56TCr	91TCr	98TCr	83TCr	1,14600Cr
Selling General & Admin Expenses, Total	11TCr	15TCr	18TCr	17TCr	20TCr
R&D Expenses	14TCr	16TCr	19TCr	20TCr	25TCr
Other Operating Expenses, Total	24TCr	31TCr	37TCr	37TCr	45TCr
Operating Income	32TCr	60TCr	62TCr	46TCr	70TCr
Interest And Investment Income	78Cr	157.5Cr	243.5Cr	256.7Cr	357.9Cr
Net Interest Expenses	78Cr	157.5Cr	243.5Cr	256.7Cr	357.9Cr
Income (Loss) On Equity Invest.	111Cr	172.1Cr	296.8Cr	338.8Cr	300.1Cr
Currency Exchange Gains (Loss)	-314.7Cr	-244.7Cr	-140.1Cr	-414.8Cr	-93Cr
Other Non Operating Income (Expenses)	267.6Cr	160.4Cr	345.9Cr	511.3Cr	475.5Cr
EBT, Excl. Unusual Items	32TCr	60TCr	63TCr	46TCr	71TCr
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-133Cr	7.1Cr	11Cr	1TCr	-116.6Cr
Asset Writedown	-	-	-44Cr	-	-45Cr
Other Unusual Items	-373.6Cr	-509.7Cr	-	22Cr	-10L
EBT, Incl. Unusual Items	32TCr	60TCr	62TCr	47TCr	71TCr
Income Tax Expense	7.41TCr	16TCr	15TCr	11TCr	16TCr
Earnings From Continuing Operations	24TCr	44TCr	47TCr	36TCr	54TCr
Net Income to Company	24TCr	44TCr	47TCr	36TCr	54TCr
Minority Interest	-	-	-	-	-
Net Income - (IS)	24TCr	44TCr	47TCr	36TCr	54TCr
Net Income to Common Incl Extra Items	24TCr	44TCr	47TCr	36TCr	54TCr
Net Income to Common Excl. Extra Items	24TCr	44TCr	47TCr	36TCr	54TCr
Per Share Items
Net EPS - Basic	520.74	935.95	1.01T	783.75	1.18T
Basic EPS - Continuing Operations	520.74	935.95	1.01T	783.75	1.18T
Basic Weighted Average Shares Outstanding	47Cr	47Cr	47Cr	46Cr	46Cr
Net EPS - Diluted	517.76	931.3	1T	781.2	1.18T
Diluted EPS - Continuing Operations	517.76	931.3	1T	781.2	1.18T
Diluted Weighted Average Shares Outstanding	47Cr	47Cr	47Cr	47Cr	46Cr
Normalized Basic EPS	431.51	805.33	835.05	623.38	961.18
Normalized Diluted EPS	429.05	801.33	831.77	621.35	958.48
Dividend Per Share	260.33	467.67	503.67	393	592
Payout Ratio	45.09	38.04	53.65	55.63	43.42
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	35TCr	64TCr	66TCr	51TCr	76TCr
EBITA	32TCr	60TCr	62TCr	46TCr	70TCr
EBIT	32TCr	60TCr	62TCr	46TCr	70TCr
Effective Tax Rate - (Ratio)	23.37	26.75	24.53	23.12	22.94
Normalized Net Income	20TCr	38TCr	39TCr	29TCr	44TCr
Non-Cash Pension Expense	101.6Cr	89Cr	-108.6Cr	-258.3Cr	-517Cr
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	14TCr	16TCr	19TCr	20TCr	25TCr

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	19TCr	27TCr	47TCr	46TCr	42TCr
Short Term Investments	13TCr	9.7TCr	-	1.02TCr	8TCr
Total Cash And Short Term Investments	31TCr	37TCr	47TCr	47TCr	50TCr
Accounts Receivable, Total	19TCr	43TCr	46TCr	39TCr	49TCr
Other Receivables	8.27TCr	11TCr	12TCr	-	-
Total Receivables	27TCr	54TCr	59TCr	39TCr	49TCr
Inventory	42TCr	47TCr	65TCr	76TCr	75TCr
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	1.45TCr	1.93TCr	2.7TCr	7.39TCr	6.99TCr
Total Current Assets	1,01600Cr	1,40900Cr	1,74100Cr	1,70000Cr	1,80100Cr
Net Property Plant And Equipment	20TCr	22TCr	26TCr	34TCr	44TCr
Long-term Investments	14TCr	19TCr	22TCr	34TCr	28TCr
Other Intangibles, Total	1.72TCr	2.25TCr	2.86TCr	3.24TCr	3.58TCr
Deferred Tax Assets Long-Term	5.31TCr	4.57TCr	5.86TCr	4.21TCr	6.96TCr
Other Long-Term Assets, Total	20L	10L	20L	20L	10L
Total Assets	1,42500Cr	1,89400Cr	2,31200Cr	2,45600Cr	2,62600Cr
Liabilities
Accounts Payable, Total	9.06TCr	12TCr	12TCr	9.24TCr	11TCr
Accrued Expenses, Total	3.43TCr	4.49TCr	4.33TCr	4.37TCr	5.52TCr
Current Income Taxes Payable	4.93TCr	11TCr	7.12TCr	8TCr	11TCr
Other Current Liabilities	15TCr	20TCr	40TCr	40TCr	41TCr
Total Current Liabilities	33TCr	47TCr	63TCr	61TCr	68TCr
Pension & Other Post Retirement Benefits	6.21TCr	6.25TCr	6.04TCr	5.61TCr	5.65TCr
Other Non Current Liabilities	1.1TCr	1.63TCr	2.18TCr	2.82TCr	3.64TCr
Total Liabilities	40TCr	55TCr	71TCr	70TCr	77TCr
Common Stock, Total	5.5TCr	5.5TCr	5.5TCr	5.5TCr	5.5TCr
Additional Paid In Capital	7.8TCr	7.8TCr	7.8TCr	7.8TCr	7.8TCr
Retained Earnings	84TCr	1,10500Cr	1,32200Cr	1,48000Cr	1,78400Cr
Treasury Stock	-3.07TCr	-2.74TCr	-2.2TCr	-14TCr	-28TCr
Comprehensive Income and Other	8.71TCr	14TCr	17TCr	28TCr	22TCr
Total Common Equity	1,02500Cr	1,34700Cr	1,60000Cr	1,76000Cr	1,85500Cr
Minority Interest	-	-	-	-	-
Total Equity	1,02500Cr	1,34700Cr	1,60000Cr	1,76000Cr	1,85500Cr
Total Liabilities And Equity	1,42500Cr	1,89400Cr	2,31200Cr	2,45600Cr	2,62600Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	47Cr	47Cr	47Cr	46Cr	46Cr
ECS Total Common Shares Outstanding	47Cr	47Cr	47Cr	46Cr	46Cr
Book Value / Share	2.2T	2.88T	3.44T	3.8T	4.05T
Tangible Book Value	1,00700Cr	1,32500Cr	1,57100Cr	1,72800Cr	1,81900Cr
Tangible Book Value Per Share	2.16T	2.83T	3.38T	3.73T	3.97T
Total Debt	0	0	0	0	0
Net Debt	-31TCr	-37TCr	-47TCr	-47TCr	-50TCr
Debt Equivalent of Unfunded Proj. Benefit Obligation	5.01TCr	4.63TCr	4.1TCr	2.67TCr	2.49TCr
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Inventories - Raw Materials, Total	6.48TCr	15TCr	25TCr	30TCr	27TCr
Inventories - Work In Process, Total	8.07TCr	14TCr	16TCr	17TCr	19TCr
Inventories - Finished Goods, Total	27TCr	18TCr	24TCr	28TCr	29TCr
Full Time Employees	14.48T	15.63T	17.2T	17.7T	19.57T
Accumulated Allowance for Doubtful Accounts (Supple)	9.9Cr	16Cr	18Cr	35Cr	16Cr
Order Backlog	-	-	-	-	-

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	32TCr	60TCr	62TCr	47TCr	71TCr
Depreciation & Amortization - CF	3.38TCr	3.67TCr	4.29TCr	5.23TCr	6.21TCr
Amortization of Goodwill and Intangible Assets - (CF)	20Cr	21Cr	17Cr	7.3Cr	12Cr
Depreciation & Amortization, Total	3.4TCr	3.69TCr	4.31TCr	5.24TCr	6.23TCr
(Gain) Loss From Sale Of Asset	-	-	-	-1TCr	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Other Operating Activities, Total	-8.61TCr	-10TCr	-21TCr	-12TCr	-14TCr
Change In Accounts Receivable	-3.77TCr	-20TCr	-2.48TCr	8.48TCr	-9.75TCr
Change In Inventories	-1.72TCr	-10TCr	-17TCr	-9.77TCr	848.5Cr
Change In Accounts Payable	-1.4TCr	1.89TCr	-1.14TCr	-2.96TCr	4.66TCr
Change in Other Net Operating Assets	-5.02TCr	3.06TCr	17TCr	7.95TCr	-186.5Cr
Cash from Operations	15TCr	28TCr	43TCr	43TCr	58TCr
Capital Expenditure	-5.38TCr	-5.62TCr	-6.69TCr	-12TCr	-16TCr
Sale of Property, Plant, and Equipment	-	-	-	1.3TCr	-
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-712.4Cr	-895Cr	-941.6Cr	-798.7Cr	-966.5Cr
Investment in Marketable and Equity Securities, Total	4.49TCr	997.7Cr	3.5TCr	-1.01TCr	16Cr
Other Investing Activities, Total	-228.2Cr	-51Cr	-46Cr	-304.6Cr	-172.6Cr
Cash from Investing	-1.83TCr	-5.56TCr	-4.18TCr	-13TCr	-17TCr
Repurchase of Common Stock	-433.9Cr	-1.5Cr	-172.8Cr	-12TCr	-15TCr
Common Dividends Paid	-11TCr	-17TCr	-25TCr	-20TCr	-24TCr
Common & Preferred Stock Dividends Paid	-11TCr	-17TCr	-25TCr	-20TCr	-24TCr
Other Financing Activities, Total	-64Cr	-99Cr	-181.8Cr	-252.7Cr	-255.2Cr
Cash from Financing	-11TCr	-17TCr	-26TCr	-33TCr	-39TCr
Foreign Exchange Rate Adjustments	494.6Cr	915.6Cr	884.3Cr	457.7Cr	-26Cr
Miscellaneous Cash Flow Adjustments	-20L	-	-	10L	-20L
Net Change in Cash	1.8TCr	6.97TCr	14TCr	-1.09TCr	2.35TCr
Supplemental Items
Cash Income Tax Paid (Refund)	8.78TCr	11TCr	21TCr	12TCr	14TCr
Levered Free Cash Flow	3.86TCr	15TCr	28TCr	23TCr	32TCr
Unlevered Free Cash Flow	3.86TCr	15TCr	28TCr	23TCr	32TCr
Change In Net Working Capital	13TCr	19TCr	6.91TCr	-2.2TCr	1.06TCr

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	14.83	22.56	18.36	11.96	17.15
Return on Total Capital	21.62	31.59	26.21	16.98	24.11
Return On Equity %	26.2	36.86	32.01	21.67	30.1
Return on Common Equity	26.2	36.86	32.01	21.67	30.1
Margin Analysis
Gross Profit Margin %	40.38	45.5	44.56	45.36	47.14
SG&A Margin	7.69	7.7	7.94	9.35	8.18
EBITDA Margin %	25.35	31.75	29.91	27.79	31.24
EBITA Margin %	22.94	29.92	27.97	24.93	28.68
EBIT Margin %	22.92	29.91	27.96	24.93	28.68
Income From Continuing Operations Margin %	17.36	21.81	21.35	19.88	22.38
Net Income Margin %	17.36	21.81	21.35	19.88	22.38
Net Avail. For Common Margin %	17.36	21.81	21.35	19.88	22.38
Normalized Net Income Margin	14.39	18.77	17.69	15.81	18.19
Levered Free Cash Flow Margin	2.76	7.69	12.84	12.81	13.14
Unlevered Free Cash Flow Margin	2.76	7.69	12.84	12.81	13.14
Asset Turnover
Asset Turnover	1.03	1.21	1.05	0.77	0.96
Fixed Assets Turnover	7.51	9.54	9.16	6.14	6.24
Receivables Turnover (Average Receivables)	8.19	6.41	4.92	4.28	5.55
Inventory Turnover (Average Inventory)	2.07	2.46	2.18	1.41	1.7
Short Term Liquidity
Current Ratio	3.1	3.01	2.76	2.78	2.66
Quick Ratio	1.79	1.95	1.69	1.41	1.45
Operating Cash Flow to Current Liabilities	0.45	0.6	0.68	0.71	0.86
Days Sales Outstanding (Average Receivables)	44.56	56.96	74.23	85.55	65.79
Days Outstanding Inventory (Average Inventory)	176.65	148.61	167.81	258.91	214.7
Average Days Payable Outstanding	39.7	33.55	30.86	34.37	28.76
Cash Conversion Cycle (Average Days)	181.5	172.01	211.18	310.09	251.73
Long Term Solvency
Total Liabilities / Total Assets	28.12	28.9	30.8	28.34	29.35
Net Debt / EBITDA	-0.88	-0.58	-0.72	-0.93	-0.65
Net Debt / (EBITDA - Capex)	-1.04	-0.64	-0.8	-1.21	-0.83
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	24.11	43.22	10.24	-17.13	32.83
Gross Profit, 1 Yr. Growth %	25	61.4	7.96	-15.66	38.06
EBITDA, 1 Yr. Growth %	33.06	79.35	3.87	-23.02	49.33
EBITA, 1 Yr. Growth %	35.12	86.82	3.07	-26.15	52.83
EBIT, 1 Yr. Growth %	35.14	86.87	3.08	-26.14	52.83
Earnings From Cont. Operations, 1 Yr. Growth %	31.17	79.91	7.9	-22.82	49.5
Net Income, 1 Yr. Growth %	31.17	79.91	7.9	-22.82	49.5
Normalized Net Income, 1 Yr. Growth %	31.48	86.81	3.9	-25.91	52.8
Diluted EPS Before Extra, 1 Yr. Growth %	33.44	79.87	7.79	-22.18	50.93
Accounts Receivable, 1 Yr. Growth %	27.71	126.4	7.13	-15.85	24.14
Inventory, 1 Yr. Growth %	5.94	14.09	37.64	16.98	-1.81
Net Property, Plant and Equip., 1 Yr. Growth %	12.18	13.26	16.14	30.21	30.93
Total Assets, 1 Yr. Growth %	11.49	32.91	22.02	6.27	6.9
Tangible Book Value, 1 Yr. Growth %	23.04	31.48	18.61	9.98	5.3
Common Equity, 1 Yr. Growth %	23.49	31.48	18.74	10.04	5.4
Cash From Operations, 1 Yr. Growth %	-42.36	94.25	50.42	1.98	33.92
Capital Expenditures, 1 Yr. Growth %	8.99	4.36	19.13	74.89	35.37
Levered Free Cash Flow, 1 Yr. Growth %	-77.15	299.42	84.24	-17.33	36.2
Unlevered Free Cash Flow, 1 Yr. Growth %	-77.15	299.42	84.24	-17.33	36.2
Dividend Per Share, 1 Yr. Growth %	32.82	79.64	7.7	-21.97	50.64
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.62	33.32	25.65	-4.42	4.92
Gross Profit, 2 Yr. CAGR %	3.62	42.04	32	-4.58	7.91
EBITDA, 2 Yr. CAGR %	2.86	54.48	36.49	-10.58	7.21
EBITA, 2 Yr. CAGR %	1.59	58.88	38.77	-12.75	6.24
EBIT, 2 Yr. CAGR %	1.62	58.92	38.79	-12.74	6.25
Earnings From Cont. Operations, 2 Yr. CAGR %	-1.07	53.62	39.32	-8.75	7.42
Net Income, 2 Yr. CAGR %	-1.07	53.62	39.32	-8.75	7.42
Normalized Net Income, 2 Yr. CAGR %	0.07	56.72	39.32	-12.26	6.4
Diluted EPS Before Extra, 2 Yr. CAGR %	1.52	54.93	39.24	-8.41	8.38
Accounts Receivable, 2 Yr. CAGR %	14.21	70.04	55.74	-5.05	2.21
Inventory, 2 Yr. CAGR %	8.28	9.94	25.31	26.89	7.17
Net Property, Plant and Equip., 2 Yr. CAGR %	14.56	12.72	14.69	22.98	30.57
Total Assets, 2 Yr. CAGR %	6.46	21.73	27.35	13.87	6.58
Tangible Book Value, 2 Yr. CAGR %	7.05	27.19	24.88	14.21	7.62
Common Equity, 2 Yr. CAGR %	7.41	27.42	24.95	14.31	7.7
Cash From Operations, 2 Yr. CAGR %	-12.28	5.81	70.94	23.86	16.86
Capital Expenditures, 2 Yr. CAGR %	7.55	6.65	11.5	44.34	53.86
Levered Free Cash Flow, 2 Yr. CAGR %	-47.83	-4.47	171.27	23.41	6.11
Unlevered Free Cash Flow, 2 Yr. CAGR %	-47.83	-4.47	171.27	23.41	6.11
Dividend Per Share, 2 Yr. CAGR %	1.51	54.47	39.09	-8.33	8.41
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	7.36	16.17	25.14	9.37	6.66
Gross Profit, 3 Yr. CAGR %	5.95	20.11	29.63	13.69	7.93
EBITDA, 3 Yr. CAGR %	5.46	23.81	35.33	12.77	6.09
EBITA, 3 Yr. CAGR %	4.43	24.46	37.54	12.46	5.17
EBIT, 3 Yr. CAGR %	4.48	24.5	37.56	12.47	5.18
Earnings From Cont. Operations, 3 Yr. CAGR %	5.93	20.75	36.55	14.42	7.58
Net Income, 3 Yr. CAGR %	5.93	20.75	36.55	14.42	7.58
Normalized Net Income, 3 Yr. CAGR %	4.69	23.22	36.66	12.87	5.56
Diluted EPS Before Extra, 3 Yr. CAGR %	7.76	22.84	37.28	14.69	8.18
Accounts Receivable, 3 Yr. CAGR %	6.3	43.47	45.77	26.85	3.82
Inventory, 3 Yr. CAGR %	6.48	10.18	18.49	22.47	16.49
Net Property, Plant and Equip., 3 Yr. CAGR %	16.07	14.13	13.85	19.65	25.57
Total Assets, 3 Yr. CAGR %	5.65	14.63	21.83	19.89	11.5
Tangible Book Value, 3 Yr. CAGR %	10.06	14.64	24.26	19.7	11.16
Common Equity, 3 Yr. CAGR %	9.92	14.9	24.46	19.77	11.26
Cash From Operations, 3 Yr. CAGR %	-7.87	14.34	18.97	43.9	27.12
Capital Expenditures, 3 Yr. CAGR %	8.82	6.48	10.66	29.55	41.29
Levered Free Cash Flow, 3 Yr. CAGR %	-29.23	2.82	18.91	82.55	27.53
Unlevered Free Cash Flow, 3 Yr. CAGR %	-29.23	2.82	18.91	82.55	27.53
Dividend Per Share, 3 Yr. CAGR %	7.77	22.78	36.97	14.72	8.18
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	16.08	20.17	14.33	7.45	16.62
Gross Profit, 5 Yr. CAGR %	16.15	23.12	15.69	9.55	20.46
EBITDA, 5 Yr. CAGR %	20.96	29.57	16.92	8.7	23.29
EBITA, 5 Yr. CAGR %	22.2	30.84	17	7.98	24.04
EBIT, 5 Yr. CAGR %	22.39	30.94	17.05	8	24.06
Earnings From Cont. Operations, 5 Yr. CAGR %	25.53	30.55	18.2	7.95	24.05
Net Income, 5 Yr. CAGR %	25.55	30.56	18.2	7.95	24.05
Normalized Net Income, 5 Yr. CAGR %	21.97	30.75	17.37	7.56	23.64
Diluted EPS Before Extra, 5 Yr. CAGR %	27.56	31.88	19.4	9.23	24.89
Accounts Receivable, 5 Yr. CAGR %	10.47	26.52	23.84	21.63	26.47
Inventory, 5 Yr. CAGR %	16.32	14.93	13.64	16.59	13.83
Net Property, Plant and Equip., 5 Yr. CAGR %	15.38	17.3	15.52	17.59	20.26
Total Assets, 5 Yr. CAGR %	12.43	14.62	13.85	14.33	15.48
Tangible Book Value, 5 Yr. CAGR %	13.02	16.01	15.76	14.47	17.31
Common Equity, 5 Yr. CAGR %	12.68	15.84	15.7	14.66	17.46
Cash From Operations, 5 Yr. CAGR %	16.02	15.66	17.97	18.06	18.13
Capital Expenditures, 5 Yr. CAGR %	36.65	26.18	9.89	20.26	26.25
Levered Free Cash Flow, 5 Yr. CAGR %	-3.76	9.23	21.13	10.61	13.62
Unlevered Free Cash Flow, 5 Yr. CAGR %	-3.76	9.23	21.13	10.61	13.62
Dividend Per Share, 5 Yr. CAGR %	26.93	31.86	19.35	9.24	24.74