KDDI KDDI（株）
Official name: KDDI CORP.
Code 9433 · Prime market · Sector: IT & Services, Others
Themes: Artificial Intelligence
ROE, equity ratio, FCF margin and growth come from the latest annual report on EDINET. PBR and dividend yield use the weekly reference close. Ranks compare with the companies among the 100 that have a value.
In plain words
- Revenue grew 2.7% a year over the 5 fiscal years to March 2026.
- Operating cash flow was 2.53 times net profit in the fiscal year to March 2026.
- Free cash flow was ¥708.4 billion in the fiscal year to March 2026, 11.7% of revenue.
- The dividend was ¥80 per share in the fiscal year to March 2026, covered 2.29 times by earnings per share.
- Equity was 26.6% of total assets at the end of March 2026.
Growth
Yearly growth of revenue, earnings per share and the dividend over 5 fiscal years (CAGR).
Revenue
Show data table
| Date | Revenue |
|---|---|
| 2017-03-31 | ¥4,748,259,000,000 |
| 2018-03-31 | ¥5,041,978,000,000 |
| 2019-03-31 | ¥5,080,353,000,000 |
| 2020-03-31 | ¥5,237,221,000,000 |
| 2021-03-31 | ¥5,312,599,000,000 |
| 2022-03-31 | ¥5,446,708,000,000 |
| 2023-03-31 | ¥5,630,024,000,000 |
| 2024-03-31 | ¥5,699,724,000,000 |
| 2025-03-31 | ¥5,835,525,000,000 |
| 2026-03-31 | ¥6,071,915,000,000 |
Basic EPS / DPS
- Basic EPS
- DPS
Notes
- Basic EPS (2017-03-31, 2018-03-31, 2019-03-31, 2020-03-31, 2021-03-31): adjusted for 2:1 split effective 2025-04-01
- DPS (2017-03-31, 2018-03-31, 2019-03-31, 2020-03-31, 2021-03-31, 2022-03-31, 2023-03-31, 2024-03-31, 2025-03-31): adjusted for 2:1 split effective 2025-04-01
Show data table
| Date | Basic EPS | DPS |
|---|---|---|
| 2017-03-31 | ¥110.83 | ¥42.5 |
| 2018-03-31 | ¥117.77 | ¥45 |
| 2019-03-31 | ¥129.55 | ¥52.5 |
| 2020-03-31 | ¥137.85 | ¥57.5 |
| 2021-03-31 | ¥142.08 | ¥60 |
| 2022-03-31 | ¥150.01 | ¥62.5 |
| 2023-03-31 | ¥149.15 | ¥67.5 |
| 2024-03-31 | ¥141.75 | ¥70 |
| 2025-03-31 | ¥161.86 | ¥72.5 |
| 2026-03-31 | ¥183.59 | ¥80 |
How it's calculated
- CAGR (compound annual growth rate):
CAGR = (Last / First)^(1 / years) - 1 - EPS (Earnings Per Share / 1株当たり利益):
EPS = Net profit attributable to owners / Shares outstanding
Short periods from a fiscal-year change are skipped. A starting value of zero or below gives no rate.
Profitability
Profit per yen of sales and of assets, and the three DuPont factors that multiply to ROE (ROE, ROA, DuPont analysis).
Operating margin
Notes
- Operating margin (2017-03-31, 2018-03-31, 2019-03-31, 2022-03-31, 2023-03-31, 2024-03-31): using profit before tax (IFRS) (operating income not separately tagged)
Show data table
| Date | Operating margin |
|---|---|
| 2017-03-31 | 18.868% |
| 2018-03-31 | 18.944% |
| 2019-03-31 | 19.886% |
| 2020-03-31 | 19.576% |
| 2021-03-31 | 19.527% |
| 2022-03-31 | 19.544% |
| 2023-03-31 | 18.634% |
| 2024-03-31 | 16.548% |
| 2025-03-31 | 18.635% |
| 2026-03-31 | 18.102% |
Return on equity
Show data table
| Date | Return on equity |
|---|---|
| 2017-03-31 | 15.9% |
| 2018-03-31 | 15.6% |
| 2019-03-31 | 15.5% |
| 2020-03-31 | 14.9% |
| 2021-03-31 | 14.2% |
| 2022-03-31 | 13.8% |
| 2023-03-31 | 13% |
| 2024-03-31 | 11.7% |
| 2025-03-31 | 12.8% |
| 2026-03-31 | 14% |
Net margin / ROA
- Net margin
- ROA
Show data table
| Date | Net margin | ROA |
|---|---|---|
| 2017-03-31 | 11.513% | 8.727% |
| 2018-03-31 | 11.355% | 8.708% |
| 2019-03-31 | 12.158% | 8.426% |
| 2020-03-31 | 12.216% | 6.678% |
| 2021-03-31 | 12.263% | 6.184% |
| 2022-03-31 | 12.347% | 6.067% |
| 2023-03-31 | 11.57% | 5.494% |
| 2024-03-31 | 10.532% | 4.271% |
| 2025-03-31 | 11.231% | 3.921% |
| 2026-03-31 | 11.646% | 3.709% |
Asset turnover / Leverage (assets / equity)
- Asset turnover
- Leverage (assets / equity)
Show data table
| Date | Asset turnover | Leverage (assets / equity) |
|---|---|---|
| 2017-03-31 | 0.76x | 1.76x |
| 2018-03-31 | 0.77x | 1.74x |
| 2019-03-31 | 0.69x | 1.75x |
| 2020-03-31 | 0.55x | 2.19x |
| 2021-03-31 | 0.5x | 2.21x |
| 2022-03-31 | 0.49x | 2.22x |
| 2023-03-31 | 0.47x | 2.34x |
| 2024-03-31 | 0.41x | 2.71x |
| 2025-03-31 | 0.35x | 3.32x |
| 2026-03-31 | 0.32x | 3.76x |
How it's calculated
- ROE (Return on Equity):
ROE = Net profit attributable to owners / Equity - ROA (Return on Assets):
ROA = Net profit attributable to owners / Total assets - DuPont analysis:
ROE = (Net profit / Revenue) x (Revenue / Total assets) x (Total assets / Equity)
The ROE line is the company's filed figure, computed on average equity. The DuPont factors use year-end figures, so their product can differ slightly.
Cash
Cash from operations, cash spent on investment, and what was left (free cash flow, cash conversion).
Free cash flow and its inputs
Show data table
| Date | Free cash flow | Operating cash flow | Investing cash flow | Financing cash flow | FCF margin | Cash conversion |
|---|---|---|---|---|---|---|
| 2017-03-31 | +¥523,849,000,000 | +¥1,161,074,000,000 | −¥637,225,000,000 | −¥485,784,000,000 | 11.032% | 2.12x |
| 2018-03-31 | +¥427,558,000,000 | +¥1,061,405,000,000 | −¥633,847,000,000 | −¥453,168,000,000 | 8.48% | 1.85x |
| 2019-03-31 | +¥315,029,000,000 | +¥1,029,607,000,000 | −¥714,578,000,000 | −¥310,951,000,000 | 6.201% | 1.67x |
| 2020-03-31 | +¥712,406,000,000 | +¥1,323,356,000,000 | −¥610,950,000,000 | −¥546,381,000,000 | 13.603% | 2.07x |
| 2021-03-31 | +¥1,023,241,000,000 | +¥1,682,166,000,000 | −¥658,925,000,000 | −¥585,571,000,000 | 19.261% | 2.58x |
| 2022-03-31 | +¥707,055,000,000 | +¥1,468,648,000,000 | −¥761,593,000,000 | −¥727,257,000,000 | 12.981% | 2.18x |
| 2023-03-31 | +¥346,389,000,000 | +¥1,078,869,000,000 | −¥732,480,000,000 | −¥669,837,000,000 | 6.153% | 1.66x |
| 2024-03-31 | +¥874,065,000,000 | +¥1,706,498,000,000 | −¥832,433,000,000 | −¥476,477,000,000 | 15.335% | 2.84x |
| 2025-03-31 | +¥68,939,000,000 | +¥1,249,042,000,000 | −¥1,180,103,000,000 | −¥33,555,000,000 | 1.181% | 1.91x |
| 2026-03-31 | +¥708,398,000,000 | +¥1,788,853,000,000 | −¥1,080,455,000,000 | −¥553,130,000,000 | 11.667% | 2.53x |
Cash and cash equivalents at year end
Show data table
| Date | Cash and cash equivalents |
|---|---|
| 2017-03-31 | ¥226,607,000,000 |
| 2018-03-31 | ¥200,834,000,000 |
| 2019-03-31 | ¥204,597,000,000 |
| 2020-03-31 | ¥369,202,000,000 |
| 2021-03-31 | ¥809,802,000,000 |
| 2022-03-31 | ¥796,613,000,000 |
| 2023-03-31 | ¥480,252,000,000 |
| 2024-03-31 | ¥887,207,000,000 |
| 2025-03-31 | ¥921,175,000,000 |
| 2026-03-31 | ¥1,078,807,000,000 |
How it's calculated
- Free cash flow (FCF):
FCF = Operating cash flow + Investing cash flow - FCF margin:
FCF margin = Free cash flow / Revenue - Cash conversion:
Cash conversion = Operating cash flow / Net profit attributable to owners - Cash / total assets:
Cash and cash equivalents at year end / Total assets
Investing cash flow is negative when the company invests, so FCF is operating cash flow minus what was invested. Filings give no consistent debt line, so cash is shown against total assets instead of as net cash.
Dividends
The dividend per share over time, the share of profit it took, its size against book value, and how many times earnings covered it (DOE, dividend cover, payout ratio).
9 consecutive fiscal years without a dividend cut, including 9 years of increases in a row. The count runs back from the latest year with a dividend figure and stops at a gap or a fiscal-year change.
Source: Financial Services Agency (EDINET), KabuFacts · as of 2026-06-25 Download CSV
Payout ratio
Notes
- Payout ratio (2017-03-31, 2018-03-31, 2019-03-31, 2020-03-31, 2021-03-31, 2022-03-31, 2023-03-31, 2024-03-31, 2025-03-31): adjusted for 2:1 split effective 2025-04-01
Show data table
| Date | Payout ratio |
|---|---|
| 2017-03-31 | 38.349% |
| 2018-03-31 | 38.21% |
| 2019-03-31 | 40.525% |
| 2020-03-31 | 41.714% |
| 2021-03-31 | 42.23% |
| 2022-03-31 | 41.664% |
| 2023-03-31 | 45.256% |
| 2024-03-31 | 49.383% |
| 2025-03-31 | 44.792% |
| 2026-03-31 | 43.575% |
How it's calculated
- DOE (Dividend on Equity):
DOE = Dividend per share / Book value per share - Dividend cover:
Dividend cover = EPS / DPS - Sustainable growth rate:
Sustainable growth = ROE x (1 - Payout ratio) - Payout ratio:
Payout ratio = DPS / EPS
Balance sheet
Equity as a share of assets, Altman's Z'' balance-sheet score and the nine Piotroski accounting checks (equity ratio, Altman Z'', Piotroski F-score).
Equity ratio
Show data table
| Date | Equity ratio |
|---|---|
| 2017-03-31 | 56.7% |
| 2018-03-31 | 57.4% |
| 2019-03-31 | 57.1% |
| 2020-03-31 | 45.8% |
| 2021-03-31 | 45.2% |
| 2022-03-31 | 45% |
| 2023-03-31 | 42.7% |
| 2024-03-31 | 36.9% |
| 2025-03-31 | 30.1% |
| 2026-03-31 | 26.6% |
Net income, total assets and equity
- Net income (owners of parent)
- Total assets
- Equity attributable to owners of parent
Show data table
| Date | Net income (owners of parent) | Total assets | Equity attributable to owners of parent |
|---|---|---|---|
| 2017-03-31 | +¥546,658,000,000 | ¥6,263,826,000,000 | ¥3,554,423,000,000 |
| 2018-03-31 | +¥572,528,000,000 | ¥6,574,555,000,000 | ¥3,773,703,000,000 |
| 2019-03-31 | +¥617,669,000,000 | ¥7,330,416,000,000 | ¥4,183,492,000,000 |
| 2020-03-31 | +¥639,767,000,000 | ¥9,580,149,000,000 | ¥4,384,424,000,000 |
| 2021-03-31 | +¥651,496,000,000 | ¥10,535,326,000,000 | ¥4,759,720,000,000 |
| 2022-03-31 | +¥672,486,000,000 | ¥11,084,379,000,000 | ¥4,982,586,000,000 |
| 2023-03-31 | +¥651,391,000,000 | ¥11,855,594,000,000 | ¥5,063,867,000,000 |
| 2024-03-31 | +¥600,281,000,000 | ¥14,054,762,000,000 | ¥5,188,048,000,000 |
| 2025-03-31 | +¥655,416,000,000 | ¥16,714,708,000,000 | ¥5,032,495,000,000 |
| 2026-03-31 | +¥707,112,000,000 | ¥19,063,364,000,000 | ¥5,076,738,000,000 |
Altman Z'' score
Z'' was 0.25 in the fiscal year to March 2026, in what Altman calls the distress zone. His bands: above 2.6 safe, 1.1 to 2.6 grey, below 1.1 distress.
- X1 working capital / total assets−0.229 × 6.56 = −1.5
- X2 retained earnings / total assets0.284 × 3.26 = 0.92
- X3 operating income / total assets0.058 × 6.72 = 0.39
- X4 equity / total liabilities0.415 × 1.05 = 0.44
- Z''0.25
Source: Financial Services Agency (EDINET), KabuFacts · as of 2026-06-25 Download CSV
Piotroski checklist
Comparing the fiscal year to March 2026 with the year before: 4 of the 9 checks that could be evaluated (9 in total) answered yes.
- Net profit is positive (ROA above zero)Yes
- Operating cash flow is positiveYes
- ROA higher than the year beforeNo
- Operating cash flow larger than net profitYes
- Liabilities / total assets lower than the year beforeNo
- Current ratio higher than the year beforeNo
- No increase in shares issuedYes
- Gross margin higher than the year beforeNo
- Asset turnover higher than the year beforeNo
How it's calculated
- Equity ratio:
Equity ratio = Equity / Total assets - Altman Z'' score:
Z'' = 6.56 x (Working capital / Total assets) + 3.26 x (Retained earnings / Total assets) + 6.72 x (Operating income / Total assets) + 1.05 x (Equity / Total liabilities) - Piotroski F-score:
F-score = number of the nine checks passed (shown as 'passed of evaluated')
Z'' is Altman's 1995 form for non-manufacturers and non-US companies, using book equity rather than the share price. Piotroski's debt check uses liabilities divided by total assets, because filings carry no consistent debt line. A check whose input is missing counts neither way.
Owners & people
Who holds the shares by category, the company-reported total shareholder return, and the workforce (shareholder composition, TSR, average salary).
Shareholding by owner category
- Foreign corporations etc.31.08%1,115 shareholders
- Other corporations25.5%2,292 shareholders
- Financial institutions23.54%222 shareholders
- Individuals and others15.75%631,047 shareholders
- Securities firms4.12%52 shareholders
- Foreign individuals0.01%1,613 shareholders
- Government and local authorities0%1 shareholders
Note: treasury shares are not a separate category here: filings count them inside individuals and others (個人その他).
TSR rows share one starting point: the fiscal year end five years before the latest report. The first row covers one year and the last covers five. 100% means the holding, dividends included, was worth what it cost; the company reports the figure.
People
73,198
¥10.5 million
42.3 years
16.4 years
¥83.0 million
Average salary, age and tenure cover the parent company's own employees (提出会社), as filed. Revenue per employee divides group revenue by group employees.
Where each figure comes from
Each trail lists every year with its EDINET filing and the exact XBRL line.
Weekly snapshot
| Reference close† | Market cap (issued shares)‡ | PER (actual)‡ | PBR‡ | Yield (trailing)‡ | ROE‡ | Equity ratio‡ |
|---|---|---|---|---|---|---|
| ¥2,893 | ¥12.12 trillion | 15.76x | 2.17x | 2.77% | 14% | 26.6% |
† Reference close for the week ending 9 October 2026. ‡ Computed from the EDINET filings and the reference close.
IR events
The company's IR page lists no dated event ahead. IR calendar
The past year
| JST | Event | Company's own title | Status |
|---|---|---|---|
| IR / investor day | KDDI IR Day 2026Materials:Presentation Open PDF file | Held | |
Corrections filed
Amended reports filed on EDINET since 12 October 2021, newest first (11).
- : Amended internal control report, for the fiscal year 1 April 2024 to 31 March 2025 (amends S100VXH9)
- : Amended semi-annual report, for the half of the fiscal year 1 April 2025 to 31 March 2026 (amends S100X3XH)
- : Amended annual securities report, for the fiscal year 1 April 2024 to 31 March 2025 (amends S100VXGZ)
- : Amended internal control report, for the fiscal year 1 April 2023 to 31 March 2024 (amends S100TNAE)
- : Amended semi-annual report, for the half of the fiscal year 1 April 2024 to 31 March 2025 (amends S100UO36)
- : Amended annual securities report, for the fiscal year 1 April 2023 to 31 March 2024 (amends S100TN7R)
- : Amended quarterly report, for the quarter 1 October 2023 to 31 December 2023 (amends S100SR3R)
- : Amended quarterly report, for the quarter 1 July 2023 to 30 September 2023 (amends S100S4Z6)
- : Amended internal control report, for the fiscal year 1 April 2022 to 31 March 2023 (amends S100R0RS)
- : Amended quarterly report, for the quarter 1 April 2023 to 30 June 2023 (amends S100RI17)
- : Amended annual securities report, for the fiscal year 1 April 2022 to 31 March 2023 (amends S100R0PR)
Internal control report filed , for the fiscal year 1 April 2025 to 31 March 2026. The company states a material weakness in its internal control over financial reporting, in Japanese: 当社は、下記に記載した財務報告に係る内部統制の不備は、財務報告の適正性に重要な影響を及ぼすものであり、開示すべき重要な不備に該当すると判断しました。
Amended internal control report filed , for the fiscal year 1 April 2024 to 31 March 2025. The company states a material weakness in its internal control over financial reporting, in Japanese: 下記に記載した財務報告に係る内部統制の不備は、財務報告の適正性に重要な影響を及ぼすものであり、開示すべき重要な不備に該当すると判断しました。
Amended internal control report filed , for the fiscal year 1 April 2023 to 31 March 2024. The company states a material weakness in its internal control over financial reporting, in Japanese: 下記に記載した財務報告に係る内部統制の不備は、財務報告の適正性に重要な影響を及ぼすものであり、開示すべき重要な不備に該当すると判断しました。
Amended internal control report filed , for the fiscal year 1 April 2022 to 31 March 2023. The company states a material weakness in its internal control over financial reporting, in Japanese: 下記に記載した財務報告に係る内部統制の不備は、財務報告の適正性に重要な影響を及ぼすものであり、開示すべき重要な不備に該当すると判断しました。
Capital actions
EDINET filings in the 12 months to 9 October 2026.
Buybacks
Buyback-status reports do not tag their share counts or yen totals. Each report's EDINET docID leads to its full text.
| Date | Filer | EDINET docID |
|---|---|---|
| 2026-10-09 | ＫＤＤＩ株式会社 | S100Z61I |
| 2026-09-04 | ＫＤＤＩ株式会社 | S100Z01D |
| 2026-08-06 | ＫＤＤＩ株式会社 | S100YU18 |
| 2026-07-06 | ＫＤＤＩ株式会社 | S100YO85 |
| 2026-06-04 | ＫＤＤＩ株式会社 | S100Y8CL |
| 2026-01-08 | ＫＤＤＩ株式会社 | S100XE3Q |
| 2025-12-04 | ＫＤＤＩ株式会社 | S100X7X0 |
| 2025-11-07 | ＫＤＤＩ株式会社 | S100WYC4 |
Large-holding filings
| Date | Filer | Type | Holding ratio | Prior ratio | EDINET docID |
|---|---|---|---|---|---|
| 2026-07-08 | トヨタ自動車株式会社 | Change report | — | — | S100YIXC |
| 2026-07-02 | 京セラ株式会社 | Change report | — | — | S100YNV2 |
| 2026-06-15 | トヨタ自動車株式会社 | Change report | — | — | S100Y751 |
| 2026-06-11 | 京セラ株式会社 | Change report | — | — | S100Y9RM |
Takeover-bid filings
| Date | Type | Filer | EDINET docID |
|---|---|---|---|
| 2026-05-13 | TOB filing (bidder) | ＫＤＤＩ株式会社 | S100Y3N6 |
Leverage
Liabilities were 2.76x equity, worked out from the equity ratio as (1 ÷ equity ratio) − 1. It is an estimate from the balance sheet, not a reported debt figure.
Rank among the 100 companies on six measures
Each rank is a percentile among the companies with a value: 0 is the lowest, 100 the highest. "Shareholder returns" counts dividend growth only, not buybacks.
| Measure | Rank among the 100 (percentile) | Inputs |
|---|---|---|
| Growth (5y revenue CAGR) | 2 | 5y revenue CAGR: 2.71% · Stocks ranked (n): 87 |
| Profitability (ROE, 3y average) | 69 | ROE (3y average): 12.83% · Stocks ranked (n): 100 |
| Balance sheet (equity ratio) | 15 | Equity ratio: 26.6% · Stocks ranked (n): 100 |
| Valuation vs own history (PBR) | insufficient data | Current PBR: 2.17x · 10y median PBR: — · Stocks ranked (n): 0 |
| Shareholder returns (DPS CAGR) | 15 | 5y DPS CAGR: 5.92% · Buyback yield: — · Stocks ranked (n): 95 |
| Momentum (52-week range position) | insufficient data | 52-week range position: — · Stocks ranked (n): 0 |
Themes
- Artificial Intelligence: The word AI appears 3 times in the business description (事業の内容) of the latest annual report (EDINET S100YKG2). Excerpt:
…ンドでのデータセンターサービス等を提供しています。 加えて、AI時代の新たなビジネスプラットフォーム「WAKONX」を立ち上げ、法人のお客さまが抱える業界特有の課題…
What changed since last week
- 9433: a new buyback filing (docID S100Z61I) dated 9 October 2026.