NYSE : IX
ORIX Corporation — Financial statements
Financials · Financial Conglomerates · Japan
Last price 36.83 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 40.65B
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Financial statements
ORIX Corporation (IX) reported revenue of 3.46T JPY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in JPY.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 2.92T | 2.84T | 2.53T | 2.43T | 2.32T | 2.18T |
| Other Revenue | 542.61B | 494.52B | 342.68B | 381.02B | 347.33B | 323.78B |
| Revenue | 3.46T | 3.33T | 2.87T | 2.81T | 2.66T | 2.51T |
| Cost of Revenue | 1.95T | 1.89T | 1.67T | 1.64T | 1.62T | 1.57T |
| Gross Profit | 1.51T | 1.44T | 1.20T | 1.17T | 1.04T | 940.79B |
| Selling, General & Admin | 751.41B | 711.77B | 646.05B | 627.63B | 555.97B | 522.78B |
| Other Operating Expenses | 11.20B | 6.39B | 9.36B | -5.71B | 11.75B | -5.44B |
| Operating Expenses | 762.61B | 718.16B | 655.41B | 621.93B | 567.72B | 517.34B |
| Operating Income | 746.54B | 720.46B | 545.14B | 552.11B | 472.79B | 423.44B |
| Interest Expense | -197.26B | -193.87B | -169.01B | -188.24B | -127.84B | -68.25B |
| Earnings From Equity Investments | 312.35B | 123.87B | 57.18B | 36.77B | 22.08B | 24.57B |
| Currency Exchange Gain (Loss) | 5.29B | 5.29B | -3.52B | -1.13B | -1.96B | -3.35B |
| EBT Excluding Unusual Items | 866.91B | 655.75B | 429.79B | 399.53B | 365.07B | 376.40B |
| Merger & Restructuring Charges | -3.44B | |||||
| Impairment of Goodwill | -562.00M | |||||
| Gain (Loss) on Sale of Investments | -1.54B | -1.66B | -554.00M | -315.00M | -824.00M | -730.00M |
| Gain (Loss) on Sale of Assets | 169.32B | 111.31B | 87.70B | 72.49B | 33.00B | 192.00B |
| Asset Writedown | -82.78B | -73.96B | -40.23B | -1.72B | -2.81B | -57.66B |
| Other Unusual Items | 3.75B | 1.17B | ||||
| Pretax Income | 951.91B | 691.43B | 480.46B | 469.98B | 392.18B | 509.45B |
| Income Tax Expense | 315.46B | 233.10B | 128.83B | 131.39B | 95.25B | 186.59B |
| Earnings From Continuing Operations | 636.45B | 458.33B | 351.63B | 338.59B | 296.93B | 322.85B |
| Minority Interest in Earnings | -13.22B | -11.06B | -5.00M | 7.54B | -6.59B | -5.48B |
| Net Income | 620.81B | 447.26B | 351.63B | 346.13B | 290.34B | 317.38B |
| Preferred Dividends & Other Adjustments | 96.00M | 96.00M | 35.00M | 7.00M | ||
| Net Income to Common | 620.71B | 447.17B | 351.60B | 346.12B | 290.34B | 317.38B |
| Shares Outstanding (Basic) | 1.11B | 1.12B | 1.14B | 1.16B | 1.18B | 1.20B |
| Shares Outstanding (Diluted) | 1.11B | 1.12B | 1.14B | 1.16B | 1.18B | 1.20B |
| EPS (Basic) | 560.28 | 400.27 | 307.74 | 298.55 | 245.98 | 263.72 |
| EPS (Diluted) | 559.00 | 399.40 | 307.16 | 298.05 | 245.65 | 263.42 |
| Free Cash Flow | 37.13B | -57.48B | 42.53B | -166.99B | 186.07B | |
| Free Cash Flow Per Share | 33.16 | -50.21 | 36.62 | -141.28 | 154.44 | |
| Dividend Per Share | 156.10 | 156.10 | 120.01 | 98.60 | 85.60 | 85.60 |
| Gross Margin | 43.61% | 43.19% | 41.76% | 41.72% | 39.06% | 37.51% |
| Operating Margin | 21.57% | 21.63% | 18.96% | 19.62% | 17.75% | 16.88% |
| Profit Margin | 17.94% | 13.43% | 12.23% | 12.30% | 10.90% | 12.65% |
| Free Cash Flow Margin | 1.11% | -2.00% | 1.51% | -6.27% | 7.42% | |
| EBITDA | 1.15T | 1.13T | 944.66B | 916.36B | 813.04B | 743.78B |
| EBITDA Margin | 33.31% | 33.78% | 32.86% | 32.56% | 30.52% | 29.66% |
| D&A For EBITDA | 406.11B | 404.79B | 399.53B | 364.24B | 340.25B | 320.34B |
| EBIT | 746.54B | 720.46B | 545.14B | 552.11B | 472.79B | 423.44B |
| EBIT Margin | 21.57% | 21.63% | 18.96% | 19.62% | 17.75% | 16.88% |
| Effective Tax Rate | 33.14% | 33.71% | 26.81% | 27.96% | 24.29% | 36.63% |
| Revenue as Reported | 3.46T | 3.33T | 2.87T | 2.81T | 2.66T | 2.51T |
Balance sheet
Fiscal year April - March; amounts in JPY.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 968.92B | 1.33T | 1.21T | 1.03T | 1.23T | 954.83B |
| Short-Term Investments | 1.92B | 1.40B | 2.03B | 4.37B | 4.20B | |
| Trading Asset Securities | 26.36B | 17.87B | 19.00B | 24.98B | 12.07B | |
| Cash & Short-Term Investments | 968.92B | 1.36T | 1.23T | 1.05T | 1.26T | 971.10B |
| Accounts Receivable | 3.17T | 5.90T | 5.66T | 5.53T | 5.42T | 5.26T |
| Other Receivables | 15.86B | 17.13B | 16.75B | 4.68B | 5.21B | |
| Receivables | 3.17T | 5.91T | 5.68T | 5.54T | 5.43T | 5.26T |
| Inventory | 271.57B | 269.19B | 229.23B | 227.36B | 169.02B | 139.56B |
| Restricted Cash | 122.69B | 116.15B | 115.41B | 152.50B | 135.05B | 136.99B |
| Other Current Assets | 3.26T | 128.16B | 46.30B | 53.99B | 49.60B | 41.80B |
| Total Current Assets | 7.79T | 7.79T | 7.30T | 7.03T | 7.04T | 6.55T |
| Property, Plant & Equipment | 923.43B | 1.05T | 1.04T | 1.03T | 973.06B | 910.01B |
| Long-Term Investments | 4.68T | 4.48T | 4.42T | 4.42T | 3.76T | 3.64T |
| Goodwill | 773.59B | 621.86B | 631.77B | 627.68B | 488.86B | |
| Other Intangible Assets | 658.49B | 601.87B | 612.67B | 590.41B | 473.88B | |
| Long-Term Deferred Tax Assets | 47.13B | 63.34B | 66.52B | 48.29B | 46.06B | |
| Other Long-Term Assets | 4.86T | 3.20T | 2.83T | 2.54T | 2.25T | 2.16T |
| Total Assets | 18.26T | 18.00T | 16.87T | 16.32T | 15.29T | 14.27T |
| Accounts Payable | 325.68B | 356.01B | 339.79B | 362.50B | 366.85B | 291.42B |
| Short-Term Debt | 582.68B | 111.08B | 88.22B | 133.97B | 44.52B | 40.06B |
| Current Portion of Long-Term Debt | 1.50T | 464.23B | 443.85B | 467.60B | 407.76B | |
| Current Portion of Leases | 56.77B | |||||
| Current Income Taxes Payable | 730.50B | 76.73B | 53.15B | 65.53B | 25.20B | 115.34B |
| Other Current Liabilities | 3.01T | 1.96T | 53.26B | 91.96B | 68.05B | 97.52B |
| Total Current Liabilities | 4.65T | 4.06T | 998.65B | 1.10T | 972.21B | 952.11B |
| Long-Term Debt | 5.73T | 4.93T | 5.73T | 5.63T | 5.21T | 4.43T |
| Long-Term Leases | 251.86B | 259.34B | 260.22B | 287.96B | 282.90B | |
| Long-Term Unearned Revenue | 46.16B | 40.44B | 32.83B | 34.34B | 32.98B | |
| Pension & Post-Retirement Benefits | 16.51B | 16.94B | 17.50B | 16.97B | 15.46B | |
| Long-Term Deferred Tax Liabilities | 611.05B | 525.63B | 505.19B | 429.06B | 345.84B | |
| Other Long-Term Liabilities | 3.04T | 3.46T | 5.12T | 4.76T | 4.72T | 4.84T |
| Total Liabilities | 13.41T | 13.38T | 12.69T | 12.30T | 11.67T | 10.90T |
| Common Stock | 221.11B | 221.11B | 221.11B | 221.11B | 221.11B | 221.11B |
| Additional Paid-In Capital | 235.90B | 235.24B | 234.19B | 233.46B | 233.17B | 260.48B |
| Retained Earnings | 3.71T | 3.50T | 3.35T | 3.26T | 3.05T | 2.91T |
| Treasury Stock | -121.12B | -81.47B | -61.73B | -129.98B | -121.26B | -113.45B |
| Comprehensive Income & Other | 659.87B | 605.11B | 341.30B | 357.15B | 156.13B | -16.04B |
| Total Common Equity | 4.71T | 4.48T | 4.09T | 3.94T | 3.54T | 3.26T |
| Minority Interest | 132.15B | 141.31B | 85.43B | 83.14B | 71.66B | 109.98B |
| Shareholders' Equity | 4.84T | 4.62T | 4.18T | 4.02T | 3.62T | 3.37T |
| Total Liabilities & Equity | 18.26T | 18.00T | 16.87T | 16.32T | 15.29T | 14.27T |
| Total Debt | 6.31T | 6.85T | 6.54T | 6.46T | 6.01T | 5.16T |
| Net Cash (Debt) | -5.34T | -5.49T | -5.32T | -5.41T | -4.75T | -4.19T |
| Net Cash Per Share | -4,808.26 | -4,898.58 | -4,646.38 | -4,659.03 | -4,017.60 | -3,474.84 |
| Filing Date Shares Outstanding | 1.10B | 1.10B | 1.14B | 1.15B | 1.17B | 1.19B |
| Total Common Shares Outstanding | 1.10B | 1.10B | 1.14B | 1.15B | 1.17B | 1.19B |
| Working Capital | 3.15T | 3.73T | 6.30T | 5.93T | 6.07T | 5.60T |
| Book Value Per Share | 4,300.71 | 4,080.24 | 3,599.24 | 3,422.94 | 3,027.93 | 2,732.88 |
| Tangible Book Value | 4.71T | 3.05T | 2.87T | 2.70T | 2.33T | 2.30T |
| Tangible Book Value Per Share | 4,300.71 | 2,776.67 | 2,522.29 | 2,342.21 | 1,987.10 | 1,926.17 |
Cash flow statement
Fiscal year April - March; amounts in JPY.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 447.26B | 351.63B | 346.13B | 290.34B | 317.38B | |
| Depreciation & Amortization | 404.79B | 399.53B | 364.24B | 340.25B | 320.34B | |
| Loss (Gain) From Sale of Assets | -181.43B | -164.34B | -125.93B | -89.93B | -232.15B | |
| Asset Writedown & Restructuring Costs | 16.24B | 25.93B | 1.72B | 2.30B | 35.67B | |
| Loss (Gain) From Sale of Investments | 985.00M | 7.33B | -3.63B | -1.83B | -17.50B | |
| Loss (Gain) on Equity Investments | -123.87B | -57.18B | -36.77B | -22.08B | -24.57B | |
| Provision & Write-off of Bad Debts | 34.02B | 18.72B | 20.97B | 8.12B | 5.39B | |
| Other Operating Activities | 390.84B | 447.45B | 447.95B | 409.85B | 380.27B | |
| Change in Accounts Receivable | 4.56B | -2.64B | 5.24B | 12.95B | 3.56B | |
| Change in Inventory | -39.82B | -9.84B | -58.13B | -17.53B | -7.05B | |
| Change in Accounts Payable | 1.06B | -3.91B | -4.43B | -12.17B | 14.94B | |
| Change in Income Taxes | 25.87B | -9.23B | 107.88B | -128.95B | 92.03B | |
| Change in Other Net Operating Assets | 395.62B | 268.26B | 186.19B | 89.92B | 146.64B | |
| Operating Cash Flow | 1.37T | 1.30T | 1.24T | 913.09B | 1.10T | |
| Capital Expenditures | -1.33T | -1.36T | -1.20T | -1.08T | -917.30B | |
| Sale of Property, Plant & Equipment | 352.49B | 373.80B | 262.72B | 233.45B | 147.10B | |
| Cash Acquisitions | -129.04B | -89.87B | -42.49B | -206.83B | -87.58B | |
| Divestitures | 39.70B | 111.04B | 139.53B | 19.99B | 252.92B | |
| Investment in Securities | 107.60B | -168.26B | -471.08B | -128.49B | -198.81B | |
| Other Investing Activities | -12.04B | 24.97B | 12.54B | 1.38B | 13.23B | |
| Investing Cash Flow | -1.11T | -1.31T | -1.37T | -1.10T | -808.85B | |
| Short-Term Debt Issued | 55.43B | 10.75B | 20.41B | 96.38B | ||
| Long-Term Debt Issued | 1.21T | 1.60T | 1.22T | 1.83T | 950.24B | |
| Total Debt Issued | 1.27T | 1.60T | 1.23T | 1.85T | 1.05T | |
| Short-Term Debt Repaid | -98.62B | |||||
| Long-Term Debt Repaid | -1.27T | -1.37T | -1.18T | -1.16T | -1.17T | |
| Total Debt Repaid | -1.27T | -1.47T | -1.18T | -1.16T | -1.17T | |
| Net Debt Issued (Repaid) | -6.39B | 132.65B | 51.81B | 687.52B | -121.49B | |
| Repurchase of Common Stock | -150.00B | -53.52B | -50.00B | -52.07B | -50.00B | |
| Common Dividends Paid | -170.80B | -135.59B | -99.90B | -106.29B | -99.39B | |
| Other Financing Activities | 166.66B | 205.78B | 12.61B | -90.86B | -35.74B | |
| Financing Cash Flow | -160.53B | 149.32B | -85.48B | 438.31B | -306.62B | |
| Foreign Exchange Rate Adjustments | 34.76B | -3.14B | 33.28B | 22.18B | 24.33B | |
| Net Cash Flow | 129.12B | 136.68B | -181.60B | 275.10B | 12.24B | |
| Free Cash Flow | 37.13B | -57.48B | 42.53B | -166.99B | 186.07B | |
| Free Cash Flow Margin | 1.11% | -2.00% | 1.51% | -6.27% | 7.42% | |
| Free Cash Flow Per Share | 33.16 | -50.21 | 36.62 | -141.28 | 154.44 | |
| Levered Free Cash Flow | 998.87B | -888.87B | -740.66B | -770.63B | -470.92B | |
| Unlevered Free Cash Flow | 1.12T | -783.24B | -623.01B | -690.73B | -428.27B | |
| Cash Interest Paid | 188.62B | 168.10B | 182.63B | 117.76B | 65.97B | |
| Cash Income Tax Paid | 113.12B | 3.51B | 187.25B | 83.03B | ||
| Change in Working Capital | 380.73B | 271.12B | 228.72B | -23.93B | 318.54B |
Ratios
Fiscal year April - March; amounts in JPY.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 40.65B | 30.69B | 23.40B | 25.11B | 18.78B | 23.50B |
| Enterprise Value | 75.39B | 65.57B | 59.96B | 59.04B | 51.31B | 58.28B |
| Last Close Price | 36.83 | 29.99 | 20.33 | 20.85 | 15.13 | 17.81 |
| PE Ratio | 10.40 | 10.91 | 9.97 | 10.97 | 8.60 | 8.99 |
| PS Ratio | 1.91 | 1.47 | 1.22 | 1.35 | 0.94 | 1.14 |
| PB Ratio | 1.36 | 1.06 | 0.84 | 0.94 | 0.69 | 0.85 |
| P/TBV Ratio | 1.40 | 1.60 | 1.22 | 1.41 | 1.07 | 1.24 |
| P/FCF Ratio | 172.74 | 131.44 | 89.32 | 15.33 | ||
| P/OCF Ratio | 4.68 | 3.56 | 2.69 | 3.06 | 2.73 | 2.59 |
| EV/Sales Ratio | 3.54 | 3.13 | 3.12 | 3.17 | 2.56 | 2.82 |
| EV/EBITDA Ratio | 10.63 | 9.27 | 9.51 | 9.74 | 8.39 | 9.52 |
| EV/EBIT Ratio | 16.41 | 14.47 | 16.47 | 16.17 | 14.43 | 16.71 |
| EV/FCF Ratio | 320.37 | 280.78 | 209.98 | 38.03 | ||
| Debt / Equity Ratio | 1.30 | 1.48 | 1.57 | 1.61 | 1.66 | 1.53 |
| Debt / EBITDA Ratio | 5.27 | 5.85 | 6.58 | 6.69 | 6.98 | 6.50 |
| Debt / FCF Ratio | 184.45 | 152.00 | 27.72 | |||
| Net Debt / Equity Ratio | 1.10 | 1.19 | 1.27 | 1.34 | 1.31 | 1.24 |
| Net Debt / EBITDA Ratio | 4.63 | 4.88 | 5.63 | 5.90 | 5.84 | 5.63 |
| Net Debt / FCF Ratio | 147.74 | -92.54 | 127.22 | -28.44 | 22.50 | |
| Asset Turnover | 0.20 | 0.19 | 0.17 | 0.18 | 0.18 | 0.18 |
| Inventory Turnover | 8.03 | 7.59 | 7.33 | 8.28 | 10.52 | 11.13 |
| Quick Ratio | 0.89 | 1.79 | 6.91 | 6.01 | 6.88 | 6.54 |
| Current Ratio | 1.68 | 1.92 | 7.30 | 6.40 | 7.25 | 6.88 |
| Return on Equity (ROE) | 14.04% | 10.42% | 8.58% | 8.86% | 8.50% | 9.97% |
| Return on Assets (ROA) | 2.65% | 2.58% | 2.05% | 2.18% | 2.00% | 1.90% |
| Return on Invested Capital (ROIC) | 4.92% | 4.87% | 4.21% | 4.47% | 4.50% | 3.64% |
| Return on Capital Employed (ROCE) | 5.50% | 5.20% | 3.40% | 3.60% | 3.30% | 3.20% |
| Earnings Yield | 9.62% | 9.16% | 10.04% | 9.11% | 11.63% | 11.12% |
| FCF Yield | 0.58% | 0.76% | -1.64% | 1.12% | -6.69% | 6.52% |
| Dividend Yield | 2.03% | 3.51% | 3.89% | 2.99% | 4.01% | 3.58% |
| Payout Ratio | 21.09% | 38.19% | 38.56% | 28.86% | 36.61% | 31.32% |
| Buyback Yield / Dilution | 2.65% | 2.18% | 1.42% | 1.75% | 1.90% | 2.69% |
| Total Shareholder Return | 4.67% | 5.69% | 5.32% | 4.74% | 5.91% | 6.26% |