BayCurrent Consulting (6532) Q4 2026 earnings summary

Executive summary

• FY2026 revenue reached 148,332 million yen, up 27.8% year-over-year, with EBITDA at 52,125 million yen, up 19.9% year-over-year and an EBITDA margin of 35.1%.

• Profit attributable to owners of parent rose 23.0% to 37,840 million yen, and gross profit margin improved to 56.6% from 53.8% year-over-year.

• Full-year performance met guidance, driven by strong demand for digital transformation and generative AI consulting projects.

• Active recruitment and talent cultivation led to a 16.8% increase in consultants, supporting project growth.

• The company targets continuous annual revenue growth of 20% through FY2029, aiming for 250 billion yen revenue and 30–40% EBITDA margin.

Financial highlights

• FY2026 operating profit was 50,931 million yen (+19.5% YoY), profit before tax was 50,988 million yen (+19.8% YoY), and EPS was 249.16 yen (+23.2% YoY).

• Revenue per consultant exceeded plan by 4% in FY2026.

• Number of projects increased 20.7% YoY, with utilization rate in the mid-80% range.

• Total assets rose to 157,485 million yen, equity attributable to owners of parent reached 117,038 million yen, and cash and cash equivalents ended at 72,308 million yen.

• Cash flows from operating activities were 37,616 million yen, with investing and financing activities using 6,508 million yen and 19,352 million yen, respectively.

Outlook and guidance

• FY2027 guidance projects revenue of 190,000 million yen (+28.1% YoY), EBITDA of 66,500 million yen (+27.6% YoY), profit before tax of 64,900 million yen (+27.3% YoY), and profit attributable to owners of parent of 48,100 million yen (+27.1% YoY).

• Number of consultants projected to rise to approximately 7,000 (+25% YoY), with total headcount reaching 8,500.

• Revenue per consultant expected to increase by about 5% in FY2027.

• Dividend payout ratio target remains at 40% under IFRS, with planned full-year dividend of 130 yen per share.

• Surplus cash to be returned to shareholders primarily through treasury share purchases.