Persol (2181) Q4 2026 earnings summary

Executive summary

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

• Adjusted EBITDA increased 12.6% YoY to ¥88,176 million, operating profit rose 15.8% YoY to ¥66,512 million, both exceeding forecasts.

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

• Major acquisitions included Gojob SAS, an AI-driven staffing platform, and PERSOL COMMUNICATION SERVICES LIMITED.

• FY2026 will focus on upfront investments in AI and systems to drive future profitability.

Financial highlights

• FY2025 revenue: ¥1,555.8 billion (+7.2% YoY), gross profit: ¥355.5 billion (+7.0% YoY).

• Operating profit: ¥66.5 billion (+15.8% YoY), adjusted EBITDA: ¥88.2 billion (+12.6% YoY).

• Net profit attributable to owners: ¥42.7 billion (+19.0% YoY), EPS: ¥19.42 (+20.1% YoY).

• Cash and cash equivalents at year-end: ¥85.0 billion (+¥2.2 billion YoY).

• Dividend payout ratio (adjusted EPS basis): 53.0% for FY2025.

Outlook and guidance

• FY2026/FY2027 targets 10% adjusted EBITDA growth, with revenue forecast at ¥1,665.0 billion (+7.0% YoY).

• Operating profit forecast: ¥71.0 billion (+6.7% YoY), adjusted EBITDA: ¥97.0 billion (+10.0% YoY).

• Annual dividend forecast for FY2026: ¥13.0 per share, a record high.

• All SBUs expected to post year-over-year increases in revenue and profit.

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