Persol (2181) Q4 2026 earnings summary

Executive summary

• Achieved record highs in revenue and all profit stages for FY2025, with all SBUs contributing to growth.

• Adjusted EBITDA rose 12.6% YoY to ¥88,176 million; operating profit up 15.8% YoY to ¥66,512 million.

• Net profit attributable to owners increased 19.0% YoY to ¥42,688 million, aided by tax credits and strategic acquisitions.

• ROIC reached 18.2% and ROE 20.9%, both exceeding mid-term management plan targets.

• FY2026 and FY2027 will focus on AI and system investments to drive future profitability.

Financial highlights

• Revenue increased 7.2% YoY to ¥1,555,833 million; gross profit rose 7% to ¥355,471 million.

• Operating profit: ¥66,512 million (+15.8% YoY); adjusted EBITDA: ¥88,176 million (+12.6% YoY).

• Basic EPS was ¥19.42, up from ¥16.17 the previous year; adjusted EPS: ¥21.71 (+17.4% YoY).

• Cash and cash equivalents at year-end were ¥85,018 million, up ¥2,200 million YoY.

• Dividend payout ratio based on adjusted EPS was 53.0% for FY2025.

Outlook and guidance

• FY2026/FY2027 revenue forecast at ¥1,665,000 million (+7.0% YoY); operating profit at ¥71,000 million (+6.7% YoY).

• Adjusted EBITDA target for FY2026/FY2027 is ¥97,000 million (+10.0% YoY); adjusted EPS projected at ¥22.68.

• Annual dividend forecast for FY2026/FY2027: ¥13.0 per share, a record high, with a payout ratio of 57%.

• All SBUs expected to post YoY increases in revenue and profit.

• Focus on AI-driven business model transformation and technology investments.