Micware Co., Ltd. (MWC) Cash Flow Statement
Where MWC’s cash came from and went, FY2026
February 28, 2026 · Japanese yen- Cash from operations
- ¥2.07B −6.9% vs FY2025
- Capital expenditures
- ¥291.4M 1.3% of revenue
- Free cash flow
- ¥1.78B 8.1% margin
- Returned to shareholders
- —
- Change in cash
- ¥589.2M cash at year-end ¥8.26B
Drawn to scale: where the cash came from and how it was used. Hover for values.
MWC operating cash flow, capex and free cash flow
MWC cash flow trends, FY2024–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | ¥403.1MFY2024 | ¥2.07BFY2026 | +126.9%/yr | |
| Capital expenditures | ¥195.4MFY2024 | ¥291.4MFY2026 | +22.1%/yr | |
| Free cash flow | ¥207.6MFY2024 | ¥1.78BFY2026 | +193.1%/yr | |
| Free cash flow margin | 1.2%FY2024 | 8.1%FY2026 | +7.0 pts | |
| Operating cash flow / net income | 0.29FY2024 | 1.29FY2026 | +1.00 | |
| Share buybacks (net) | ¥2.62BFY2024 | ¥0FY2026 | −100.0% | |
| Capex / revenue | 1.1%FY2024 | 1.3%FY2026 | +0.2 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MWC cash flow by activity
MWC net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
MWC cash flow statement in Japanese yen
| FY2026 | FY2025 | FY2024 | |
|---|---|---|---|
| Operating activities | |||
| Net income | ¥1.60B | ¥1.33B | ¥1.37B |
| Depreciation & amortization | ¥1.59B | ¥1.37B | ¥1.08B |
| Change in working capital | −¥928.9M | −¥270.8M | −¥1.84B |
| Other non-cash items | −¥184.7M | −¥202.2M | −¥206.1M |
| Cash from operating activities | ¥2.07B | ¥2.23B | ¥403.1M |
| Investing activities | |||
| Capital expenditures | −¥291.4M | −¥633.7M | −¥195.4M |
| Investments (net) | −¥300.5M | −¥500,000 | −¥23.8M |
| Financing activities | |||
| Share repurchases & issuance (net) | ¥0 | ¥0 | −¥2.62B |
| Net borrowing (repayment) | −¥754.0M | ¥1.20B | ¥974.0M |
| Shares issued | ¥149.9M | ¥776.0M | ¥1.68B |
| Other financing | −¥142.4M | −¥86.2M | ¥0 |
| Cash from financing activities | −¥746.5M | ¥1.89B | ¥39.0M |
| Summary | |||
| Net change in cash | ¥589.2M | ¥3.48B | ¥261.8M |
| Cash at end of period | ¥8.26B | ¥7.67B | ¥4.19B |
| Free cash flow | ¥1.78B | ¥1.60B | ¥207.6M |
| Free cash flow margin | 8.1% | 7.6% | 1.2% |
| Capex / revenue | 1.3% | 3.0% | 1.1% |
| Operating cash flow / net income | 1.29 | 1.68 | 0.29 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in Japanese yen as reported; data from EODHD.
MWC cash generation
In fiscal 2026 (ended February 28, 2026), Micware Co., Ltd. generated ¥2.1 billion of cash from operations (down 6.9%) and spent ¥291.4 million on capital expenditures, leaving free cash flow of ¥1.8 billion, 8.1% of revenue. Cash and equivalents rose by ¥589.2 million over the year.
Related: MWC income statement, MWC balance sheet. See the MWC stock overview for the latest quote and news.
MWC cash flow FAQ
What is Micware Co., Ltd.'s free cash flow?
Micware Co., Ltd.'s free cash flow was ¥1.8 billion in fiscal 2026: ¥2.1 billion of operating cash flow minus ¥291.4 million of capital expenditures It was ¥1.6 billion a year earlier..
How much cash does Micware Co., Ltd. generate from operations?
Micware Co., Ltd. generated ¥2.1 billion of cash from operating activities in fiscal 2026, 1.29 times its net income of ¥1.6 billion.
How much does Micware Co., Ltd. spend on capital expenditures?
Micware Co., Ltd. spent ¥291.4 million on capital expenditures in fiscal 2026, 1.3% of revenue, compared with ¥633.7 million the year before.