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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

Sector

Page: Company Financials

Star Flyer Inc.

Ticker: 9206.T | Industry: Airlines, Airports & Air Services | Sector: Industrials
$2,160.00 +18.00 (0.84%)
As of: 2026-01-28

Master Data Export


Enterprise Value

Metric 2025 2024 2023 2022
Stock Price 2,368.33 2,612.50 2,713.50 2,420.00
Market Capitalization 8,768.44M 9,603.22M 10,443.64M 8,295.26M
(-) Cash & Equivalents 11,103.33M 9,527.25M 5,712.25M 6,327.50M
(+) Total Debt 5,669.33M 4,691.50M 4,868.75M 3,932.00M
Enterprise Value 3,334.44M 4,767.47M 9,600.14M 5,899.76M

Income Statement

Metric TTM TTM-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
Revenue 43,478M 41,887M 42,900M 40,019M 32,274M 21,131M 18,294M 40,416M
Cost of Revenue 39,262M 36,578M 38,383M 36,766M 31,054M 25,108M 26,861M 35,858M
Gross Profit 4,216M 5,309M 4,517M 3,253M 1,220M -3,977M -8,567M 4,558M
Gross Profit Margin 9.7% 12.7% 10.5% 8.1% 3.8% -18.8% -46.8% 11.3%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 3,405M 2,976M 3,287M 2,942M 2,296M 2,196M 2,385M 4,224M
Operating Expenses 3,405M 3,196M 3,287M 3,164M 2,537M 2,487M 2,672M 4,389M
Operating Income (EBIT) 811M 2,113M 1,230M 89M -1,317M -6,464M -11,239M 169M
Operating Income Margin 1.9% 5.0% 2.9% 0.2% -4.1% -30.6% -61.4% 0.4%
Interest Income 24M 19M 25M 4M 1M 0M 10M 11M
Interest Expense 85M 48M 46M 47M 45M 83M 139M 133M
Net Interest Income -61M -29M -21M -43M -44M -83M -129M -122M
Unusual Items 173M 949M 746M 1,016M 775M 1,574M 1,617M 0M
EBT Excluding Unusual Items 750M 2,084M 1,209M 46M -1,361M -6,547M -11,368M 47M
Pre-Tax Income 923M 3,033M 1,955M 1,062M -586M -4,973M -9,751M 47M
Pre-Tax Margin 2.1% 7.2% 4.6% 2.7% -1.8% -23.5% -53.3% 0.1%
Income Tax Expense -236M 185M 32M 149M -659M 12M 316M 447M
Net Income 1,159M 2,847M 1,923M 912M 73M -4,986M -10,067M -400M
Net Income Margin 2.7% 6.8% 4.5% 2.3% 0.2% -23.6% -55.0% -1.0%
Depreciation & Amortization 887M 570M 753M 787M 820M 1,177M 1,756M 1,808M
EBITDA 1,698M 2,683M 1,983M 876M -497M -5,287M -9,483M 1,977M
EBITDA Margin 3.9% 6.4% 4.6% 2.2% -1.5% -25.0% -51.8% 4.9%
NOPAT 1,018M 1,984M 1,210M 77M -1,040M -5,107M -8,879M -1,438M
NOPAT Margin 2.3% 4.7% 2.8% 0.2% -3.2% -24.2% -48.5% -3.6%
Owner's Earnings 2,046M 3,417M 2,560M 1,344M 697M -3,853M -8,718M 790M
Owner's Earnings Margin 4.7% 8.2% 6.0% 3.4% 2.2% -18.2% -47.7% 2.0%
EPS (Basic) 323.65 803.74 536.50 259.94 21.88 -1.00 -3.00 -139.60
EPS (Diluted) 309.05 750.39 508.36 243.24 20.66 -1.00 -3.00 -139.60
Shares (Basic) 4M 4M 4M 4M 3M 3M 3M 3M
Shares (Diluted) 4M 4M 4M 4M 4M 3M 3M 3M

Balance Sheet

Metric MRQ MRQ-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
Cash & Cash Equivalents 10,869.00M 11,631.00M 10,810.00M 8,654.00M 6,137.00M 6,438.00M 16,064.00M 11,043.00M
Short-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 10,869.00M 11,631.00M 10,810.00M 8,654.00M 6,137.00M 6,438.00M 16,064.00M 11,043.00M
Net Receivables 3,026.00M 2,668.00M 3,474.00M 3,164.00M 3,585.00M 1,867.00M 2,293.00M 1,088.00M
Inventory 883.00M 747.00M 689.00M 622.00M 579.00M 632.00M 604.00M 556.00M
Other Current Assets 2,701.00M 1,356.00M 591.00M 1,787.00M 876.00M 1,437.00M 863.00M 1,273.00M
Total Current Assets 17,479.00M 16,402.00M 15,564.00M 14,227.00M 11,177.00M 10,374.00M 19,824.00M 13,960.00M
Property, Plant & Equipment 13,180.00M 5,316.00M 5,452.00M 5,904.00M 6,379.00M 6,939.00M 10,643.00M 12,077.00M
Goodwill 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 874.00M 807.00M 751.00M 467.00M 459.00M 477.00M 692.00M 629.00M
Long-Term Investments 0.00M 2,292.00M 46.00M 46.00M 46.00M 46.00M 89.00M 1,091.00M
Tax Assets 0.00M 0.00M 962.00M 364.00M 682.00M -1,257.00M -1,202.00M 591.00M
Other Non-Current Assets 2,401.00M 2.00M 994.00M 1,366.00M 1,163.00M 2,467.00M 2,314.00M -13,797.00M
Other Assets 1.00M 0.00M 3.00M 4.00M 3.00M 3.00M 3.00M 13,799.00M
Total Non-Current Assets 16,456.00M 8,417.00M 8,208.00M 8,151.00M 8,732.00M 8,675.00M 12,539.00M 14,390.00M
Total Assets 33,935.00M 24,819.00M 23,772.00M 22,378.00M 19,909.00M 19,049.00M 32,363.00M 28,350.00M
Accounts Payable 3,283.00M 3,694.00M 3,595.00M 2,479.00M 2,131.00M 1,454.00M 3,236.00M 2,050.00M
Short-Term Debt 771.00M 895.00M 850.00M 2,602.00M 1,211.00M 1,512.00M 3,512.00M 1,119.00M
Tax Payables 186.00M 0.00M 0.00M 43.00M 414.00M 102.00M 241.00M 155.00M
Deferred Revenue 0.00M 568.00M 546.00M 461.00M 1,594.00M 1,280.00M 2,260.00M 0.00M
Other Current Liabilities 1,462.00M 2,526.00M 2,213.00M 1,337.00M 920.00M 697.00M 495.00M 3,759.00M
Total Current Liabilities 5,702.00M 7,683.00M 7,204.00M 6,922.00M 6,270.00M 5,045.00M 9,744.00M 7,083.00M
Long-Term Debt 1,409.00M 1,542.00M 1,755.00M 2,606.00M 1,733.00M 2,644.00M 4,156.00M 4,820.00M
Capital Lease Obligations 8,755.00M 510.00M 521.00M 568.00M 638.00M 779.00M 3,228.00M 3,915.00M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 271.00M 195.00M 0.00M 0.00M 46.00M
Other Non-Current Liabilities 12,438.00M 10,643.00M 10,343.00M 10,282.00M 11,675.00M 10,768.00M 9,458.00M 7,057.00M
Total Non-Current Liabilities 22,602.00M 12,695.00M 12,619.00M 13,727.00M 14,241.00M 14,191.00M 16,842.00M 15,838.00M
Total Liabilities 28,304.00M 20,378.00M 19,823.00M 20,649.00M 20,511.00M 19,236.00M 26,586.00M 22,921.00M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 2,079.00M 2,075.00M 1,895.00M 1,892.00M 1,892.00M 1,393.00M 1,250.00M 1,250.00M
Retained Earnings -100.00M 98.00M -2,674.00M -4,598.00M -5,510.00M -5,583.00M -4,331.00M 5,736.00M
Accumulated OCI -286.00M -701.00M -235.00M 620.00M 73.00M 741.00M 349.00M -1,244.00M
Minority Interest 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Shareholders’ Equity 1,693.00M 1,472.00M -1,014.00M -2,086.00M -3,545.00M -3,449.00M -2,732.00M 5,742.00M
Total Equity 1,693.00M 1,472.00M -1,014.00M -2,086.00M -3,545.00M -3,449.00M -2,732.00M 5,742.00M
Total Liabilities & Equity 29,997.00M 21,850.00M 18,809.00M 18,563.00M 16,966.00M 15,787.00M 23,854.00M 28,663.00M
Tangible Assets 33,061.00M 24,012.00M 23,021.00M 21,911.00M 19,450.00M 18,572.00M 31,671.00M 27,721.00M
Tangible Equity 819.00M 665.00M -1,765.00M -2,553.00M -4,004.00M -3,926.00M -3,424.00M 5,113.00M
Tangible Book Value 819.00M 665.00M -1,765.00M -2,553.00M -4,004.00M -3,926.00M -3,424.00M 5,113.00M
Total Investments 795.00M 2,292.00M 46.00M 46.00M 46.00M 46.00M 89.00M 1,091.00M
Net Debt -8,689.00M -9,194.00M -8,205.00M -3,446.00M -3,193.00M -2,282.00M -8,396.00M -5,104.00M

Capital Metrics

Metric MRQ MRQ-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
Working Capital 10,005.0M 8,520.0M 8,664.0M 8,481.0M 6,979.0M 6,733.0M 8,134.0M 7,470.0M
Total Capital 15,445.0M 7,232.0M 7,419.0M 8,994.0M 5,341.0M 6,292.0M 17,176.0M 15,922.0M
Capital Employed 26,461.0M 16,937.0M 16,869.0M 16,628.0M 15,711.0M 15,408.0M 20,673.0M 21,860.0M
Invested Capital 4,576.0M -4,399.0M -3,391.0M 340.0M -796.0M -146.0M 1,112.0M 4,879.0M

Cash Flow Statement

Metric TTM TTM-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
Net Income 2,619.00M 2,208.00M 1,923.00M 1,062.00M 73.00M -4,973.00M -10,067.00M -400.00M
Depreciation & Amortization 0.00M 0.00M 753.00M 787.00M 820.00M 1,177.00M 1,756.00M 1,808.00M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital 0.00M 0.00M 2,456.00M -519.00M -39.00M -3,642.00M 5,380.00M 3,916.00M
Accounts Receivable 0.00M 0.00M 292.00M -377.00M -1,843.00M -396.00M 348.00M 1,137.00M
Inventory 0.00M 0.00M -66.00M -41.00M 52.00M -28.00M -48.00M -61.00M
Accounts Payable 0.00M 0.00M 1,115.00M 348.00M 676.00M -1,781.00M 1,185.00M -284.00M
Other Working Capital 0.00M 0.00M 1,115.00M -449.00M 1,076.00M -1,437.00M 3,895.00M 2,840.00M
Other Non-Cash Items -2,619.00M -2,208.00M 140.00M -801.00M -732.00M 2,209.00M -789.00M -429.00M
Net Cash from Operating Activities 0.00M 0.00M 5,272.00M 529.00M 122.00M -5,229.00M -3,720.00M 4,895.00M
Capital Expenditures (PPE) 0.00M 0.00M -438.00M -355.00M -196.00M -44.00M -407.00M -618.00M
Acquisitions (Net) 0.00M 0.00M 0.00M 0.00M 0.00M 1,264.00M 0.00M 0.00M
Purchases of Investments 0.00M 0.00M -620.00M -426.00M -386.00M -538.00M -463.00M -1,338.00M
Sales / Maturities of Investments 0.00M 0.00M 620.00M 426.00M 386.00M 338.00M 1,304.00M 457.00M
Other Investing Activities 0.00M 0.00M 11.00M 88.00M 37.00M 55.00M 86.00M -416.00M
Net Cash from Investing Activities 0.00M 0.00M -427.00M -267.00M -159.00M 1,075.00M 520.00M -1,915.00M
Net Debt Issuance 0.00M 0.00M -2,648.00M 2,264.00M -1,212.00M -3,512.00M 1,730.00M 1,980.00M
Long-Term Debt Issuance 0.00M 0.00M -1,848.00M 1,464.00M -1,212.00M -1,512.00M -270.00M 2,330.00M
Short-Term Debt Issuance 0.00M 0.00M -800.00M 800.00M 0.00M -2,000.00M 2,000.00M -350.00M
Net Stock Issuance 0.00M 0.00M 0.00M 0.00M 991.00M 283.00M 8,000.00M 0.00M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 991.00M 283.00M 8,000.00M 0.00M
Common Stock Repurchased 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M -18.00M 0.00M -28.00M
Common Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M -18.00M 0.00M -28.00M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities 0.00M 0.00M 0.00M -96.00M -135.00M -2,475.00M -695.00M -721.00M
Net Cash from Financing Activities 0.00M 0.00M -2,648.00M 2,168.00M -356.00M -5,722.00M 9,035.00M 1,231.00M
Effect of FX on Cash 0.00M 0.00M -36.00M 34.00M 58.00M 14.00M 30.00M -23.00M
Net Change in Cash 0.00M 0.00M 2,161.00M 2,464.00M -334.00M -9,862.00M 5,868.00M -1,340.00M
Cash at Beginning of Period 0.00M 0.00M 7,852.00M 5,388.00M 5,722.00M 15,584.00M 9,716.00M 5,528.00M
Cash at End of Period 0.00M 0.00M 10,013.00M 7,852.00M 5,388.00M 5,722.00M 15,584.00M 4,188.00M
Operating Cash Flow 0.00M 0.00M 5,272.00M 529.00M 122.00M -5,229.00M -3,720.00M 4,895.00M
Capital Expenditure 0.00M 0.00M -116.00M -355.00M -196.00M -44.00M -407.00M -618.00M
Free Cash Flow 0.00M 0.00M 5,156.00M 174.00M -74.00M -5,273.00M -4,127.00M 4,277.00M

Free Cash Flow

Metric TTM TTM-1 2025-03-31 2024-03-31 2023-03-31 2022-03-31 2021-03-31 2020-03-31
EBITDA 2,784.00M 2,186.00M 1,983.00M 1,098.00M -256.00M -4,996.00M -9,196.00M 2,142.00M
(-) Tax Adjustment 0.00M 365.16M 32.46M 154.05M -89.60M 0.00M 0.00M 749.70M
(-) Change In Working Capital 0.00M 0.00M 2,456.00M -519.00M -39.00M -3,642.00M 5,380.00M 3,916.00M
(-) Capital Expenditure 0.00M 0.00M -116.00M -355.00M -196.00M -44.00M -407.00M -618.00M
Unlevered Free Cash Flow 2,784.00M 1,820.84M -621.46M 1,107.95M -323.40M -1,398.00M -14,983.00M -3,141.70M
(-) Net Interest Income After Taxes -28.00M -25.82M -20.66M -36.97M -28.60M -83.00M -129.00M -79.30M
Net Debt Issuance 0.00M 0.00M -2,648.00M 2,264.00M -1,212.00M -3,512.00M 1,730.00M 1,980.00M
Levered Free Cash Flow 2,812.00M 1,846.66M -3,248.80M 3,408.92M -1,506.80M -4,827.00M -13,124.00M -1,082.40M