Yokogawa Electric (6841) Q4 2026 earnings summary

Executive summary

• FY25 net sales rose 7.5% to ¥604.8B, driven by large-scale project deliveries and growth in Measuring Instruments, but operating income declined 1.2% due to lower gross margins and one-time factors.

• Profit attributable to owners increased 11.5% to ¥58.1B, aided by the absence of prior-year impairment losses.

• Comprehensive income surged 64% year-over-year to ¥84.3B.

• FY26 outlook anticipates growth in both sales and operating income despite geopolitical uncertainties.

• Planned shareholder returns include a fourth consecutive dividend increase and share repurchases.

Financial highlights

• FY25 orders: ¥617.8B (+3.2% YoY), sales: ¥604.8B (+7.5% YoY), operating income: ¥82.6B (-1.2% YoY), profit attributable to owners: ¥58.1B (+11.5% YoY).

• Gross profit increased to ¥276.4B, but margin deterioration and one-time costs impacted operating income.

• Cash flow from operations: ¥66.5B; free cash flow: ¥52.8B; cash and cash equivalents at year-end: ¥208.5B.

• FY25 annual dividend: ¥78 (up ¥20 YoY); FY26 forecast: ¥92.

• Basic EPS increased to ¥227.72 from ¥200.41 YoY.

Outlook and guidance

• FY26 orders forecast: ¥645.0B (+4.4% YoY), sales: ¥615.0B (+1.7% YoY), operating income: ¥85.0B (+3.0% YoY), EPS: ¥229.75.

• Dividend per share planned at ¥92.00 for FY26, up from ¥78.00.

• Share repurchases up to ¥30.0B planned for FY26.

• Assumes USD/JPY exchange rate of 150.

• Growth expected in all segments, with particular strength in Measuring Instruments and Energy & Sustainability.