ORIX Corporation (IX) Key Metrics

NYSE: IXValuation, returns, debt and efficiency ratios over 10 years.

IX key metrics, FY2017–FY2026

Fiscal year ended March 31, 2026 · Japanese yen

IX returns How much profit the business earns on the capital it uses.

Return on equity+2.3 pts
11.1%
FY2026 · hover or tap a bar for each year
FY2017: 11.3% (+0.1 pts)FY2018: 12.1% (+0.7 pts)FY2019: 11.6% (−0.5 pts)FY2020: 10.3% (−1.3 pts)FY2021: 6.4% (−3.9 pts)FY2022: 9.9% (+3.5 pts)FY2023: 8.4% (−1.5 pts)FY2024: 9.2% (+0.9 pts)FY2025: 8.8% (−0.5 pts)FY2026: 11.1% (+2.3 pts)
FY2017FY2026
Return on invested capital+3.3 pts
6.3%
FY2026 · hover or tap a bar for each year
FY2017: 4.3% (+0.4 pts)FY2018: 4.9% (+0.6 pts)FY2019: 4.8% (−0.1 pts)FY2020: 3.0% (−1.8 pts)FY2021: 2.5% (−0.5 pts)FY2022: 3.0% (+0.5 pts)FY2023: 3.8% (+0.8 pts)FY2024: 2.9% (−0.8 pts)FY2025: 3.0% (+0.1 pts)FY2026: 6.3% (+3.3 pts)
FY2017FY2026
Return on assets+0.6 pts
2.7%
FY2026 · hover or tap a bar for each year
FY2017: 2.5% (+0.1 pts)FY2018: 2.8% (+0.3 pts)FY2019: 2.7% (0.0 pts)FY2020: 2.4% (−0.3 pts)FY2021: 1.4% (−1.0 pts)FY2022: 2.3% (+0.8 pts)FY2023: 2.0% (−0.3 pts)FY2024: 2.2% (+0.2 pts)FY2025: 2.1% (−0.1 pts)FY2026: 2.7% (+0.6 pts)
FY2017FY2026
Free cash flow margin−40.8 pts
1.1%
FY2026 · hover or tap a bar for each year
FY2017: 12.3% (+14.4 pts)FY2018: 12.0% (−0.2 pts)FY2019: 17.7% (+5.7 pts)FY2020: 2.2% (−15.6 pts)FY2021: 14.9% (+12.7 pts)FY2022: 7.4% (−7.5 pts)FY2023: −6.3% (−13.7 pts)FY2024: 41.7% (+48.0 pts)FY2025: 41.8% (+0.1 pts)FY2026: 1.1% (−40.8 pts)
FY2017FY2026
Cash conversion (OCF / net income)−20.3%
2.88
FY2026 · hover or tap a bar for each year
FY2017: 1.55 (+902.9%)FY2018: 1.36 (−12.7%)FY2019: 1.52 (+12.2%)FY2020: 3.44 (+126.5%)FY2021: 5.70 (+65.4%)FY2022: 3.48 (−39.0%)FY2023: 3.14 (−9.5%)FY2024: 3.62 (+15.0%)FY2025: 3.62 (0.0%)FY2026: 2.88 (−20.3%)
FY2017FY2026
Asset turnover+16.7%
0.20
FY2026 · hover or tap a bar for each year
FY2017: 0.24 (+11.9%)FY2018: 0.25 (+4.8%)FY2019: 0.21 (−18.6%)FY2020: 0.18 (−12.1%)FY2021: 0.17 (−4.7%)FY2022: 0.18 (+4.7%)FY2023: 0.18 (0.0%)FY2024: 0.18 (−1.2%)FY2025: 0.17 (−2.7%)FY2026: 0.20 (+16.7%)
FY2017FY2026

IX returns on capital

ROEROICROA

Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.

IX debt vs cash

Total debtCash & short-term investments

Debt includes short- and long-term borrowings and, where reported, lease liabilities.

IX cash returned to shareholders

DividendsBuybacksFree cash flow

IX key metrics in Japanese yen

FY2017–FY2026
FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Returns & profitability
Return on equity (ROE)11.1%8.8%9.2%8.4%9.9%6.4%10.3%11.6%12.1%11.3%
Return on invested capital (ROIC)6.3%3.0%2.9%3.8%3.0%2.5%3.0%4.8%4.9%4.3%
Return on assets (ROA)2.7%2.1%2.2%2.0%2.3%1.4%2.4%2.7%2.8%2.5%
Return on tangible assets2.6%2.2%2.3%2.1%2.4%1.5%2.5%2.9%3.0%2.6%
Free cash flow margin1.1%41.8%41.7%−6.3%7.4%14.9%2.2%17.7%12.0%12.3%
Income quality (OCF / net income)2.883.623.623.143.485.703.441.521.361.55
Financial health
Total debt¥6.57T¥6.28T¥6.46T¥6.01T¥4.87T¥5.04T¥4.93T¥4.51T¥4.14T¥4.14T
Cash & short-term investments¥1.46T¥3.81T¥1.03T¥1.24T¥3.13T¥959.91B¥996.01B¥1.16T¥1.74T¥1.61T
Net debt¥5.11T¥2.47T¥5.43T¥4.77T¥1.74T¥4.08T¥3.93T¥3.35T¥2.39T¥2.53T
Debt / equity1.461.541.641.701.451.661.651.561.541.65
Debt / assets0.360.370.400.390.340.370.380.370.360.37
Net debt / EBITDA3.802.615.935.872.356.235.704.683.443.75
Current ratio10.561.286.397.226.269.488.939.1210.449.50
Quick ratio10.561.216.187.056.079.268.758.9510.259.32
Interest coverage3.72.01.92.64.33.32.73.54.44.5
Working capital¥5.49T¥948.20B¥5.91T¥6.05T¥3.85T¥5.61T¥5.72T¥5.45T¥5.66T¥5.49T
Invested capital¥9.61T¥6.56T¥9.37T¥8.32T¥5.12T¥7.11T¥6.93T¥6.25T¥5.08T¥5.04T
Tangible asset value¥4.64T¥3.54T¥2.78T¥2.40T¥2.41T¥2.12T¥2.17T¥2.07T¥1.97T¥1.90T
Net current asset value−¥7.37T−¥8.35T−¥5.29T−¥4.66T−¥6.32T−¥4.19T−¥3.55T−¥3.09T−¥2.36T−¥2.45T
Capital allocation
Dividends paid¥170.80B¥135.59B¥99.90B¥106.29B¥99.39B¥95.16B¥103.82B¥88.44B¥72.76B¥61.30B
Share buybacks (net)¥150.00B¥53.52B¥50.00B¥52.07B¥50.00B¥55.44B¥45.72B¥707.0M¥39.11B¥12.13B
Dividend payout ratio36.0%38.6%28.9%36.6%31.3%49.5%34.3%27.3%23.2%22.4%
Dividends + buybacks / free cash flow864.0%15.7%12.8%—80.3%44.1%301.8%20.7%32.5%22.4%
Capex / revenue37.7%2.4%2.7%40.5%36.6%32.9%43.5%2.6%2.8%3.6%
Capex / operating cash flow97.3%5.4%6.1%118.3%83.1%68.8%95.2%12.6%18.9%22.5%
Capex / depreciation3.290.170.213.062.782.393.260.210.290.38
Stock-based compensation / revenue——0.1%−1.1%−0.5%−1.1%−0.7%0.0%0.0%0.0%
R&D / revenue——0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
SG&A / revenue45.4%49.6%50.4%47.7%44.8%46.0%41.0%18.9%16.0%16.6%
Efficiency
Days sales outstanding259.4376.8710.0470.9470.0805.3784.0675.4545.6566.0
Days of inventory on hand—49.844.134.732.833.131.026.721.025.8
Days payables outstanding52.976.681.174.064.367.074.065.547.351.9
Cash conversion cycle (days)206.5350.1673.0431.6438.5771.4741.1636.7519.3540.0
Receivables turnover1.410.970.510.780.780.450.470.540.670.64
Payables turnover6.904.774.504.935.685.454.935.587.727.03
Inventory turnover—7.338.2810.5211.1311.0411.7613.6717.3514.13
Asset turnover0.200.170.180.180.180.170.180.210.250.24
Average receivables¥2.51T¥2.97T¥5.47T¥3.44T¥3.23T¥5.06T¥4.90T¥4.49T¥4.28T¥4.15T
Average payables¥347.90B¥351.15B¥364.68B¥329.14B¥276.07B¥271.72B¥288.10B¥277.89B¥257.05B¥259.01B
Average inventory—¥228.29B¥198.19B¥154.29B¥140.86B¥134.08B¥120.85B¥113.35B¥114.43B¥128.91B
Intangibles / total assets0.0%3.7%7.6%8.0%6.7%7.3%6.9%7.3%7.3%6.7%

Computed from IX's annual financial statements (latest annual report filed June 22, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Japanese yen; data from EODHD. Averages use the opening and closing balance of each year.

IX valuation and financial ratios

ORIX earned a return on equity of 11.1% and a return on invested capital of 6.3% in fiscal 2026. It ended the year with ¥6.57 trillion of debt and ¥1.46 trillion in cash and short-term investments, net debt of ¥5.11 trillion. It returned ¥320.8 billion to shareholders: ¥170.8 billion in dividends and ¥150.0 billion in share buybacks, 864% of free cash flow.

See the IX income statement, the IX chart for price history, or the IX stock overview for the latest quote and news.

IX key metrics FAQ

What is ORIX's return on equity?

ORIX's return on equity (ROE) was 11.1% in fiscal 2026: net income of ¥475.0 billion on average shareholders' equity of ¥4.30 trillion.

What is ORIX's ROIC?

ORIX's return on invested capital was 6.3% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.

How much debt does ORIX have?

ORIX had total debt of ¥6.57 trillion at the end of fiscal 2026, a debt-to-equity ratio of 1.46 and ¥5.11 trillion of net debt (3.80 times EBITDA).

Does ORIX buy back its shares?

Yes. ORIX spent ¥150.0 billion on net share repurchases in fiscal 2026.

What is ORIX's current ratio?

ORIX's current ratio was 10.56 at the end of fiscal 2026: current assets were 10.56 times current liabilities.

Financial Conglomerates key metrics