HERENasdaqRetail-Hobby, Toy & Game ShopsFiscal year ends June 30
Here Group Ltd
Financials through fiscal 2025, year ended Jun 30, 2025Last filing: 20-F on Oct 31, 2025
$1.63+0.01 (+0.62%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2020 to 2025
Gross margin
81.5%
Operating margin
14.6%
Net margin
13.2%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -28.2% | -1.7% | – | – | |
| Gross profit | -31.5% | -3.3% | – | – | |
| Operating income | +5.2% | – | – | – | |
| Net income | -7.0% | – | – | – | |
| EPS, diluted | -4.4% | – | – | – | |
| Free cash flow | -35.2% | -12.3% | – | – |
Returns and balance sheet
6 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2020 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 54.1% | |
| Return on assets | – | – | 23.2% | |
| Current ratio | – | – | 2.14 | |
| Capex to revenue | – | – | 0.1% | |
| Diluted shares | – | – | 165M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Here generated CN¥1.05B from operations and spent CN¥100.98M on capital expenditure, dividends and share buybacks. 23% of that went back into the business.
Generated
CN¥1.05B
Used
CN¥100.98M
Capital expenditureCN¥22.87M23%DividendsCN¥78.11M77%Share buybacksCN¥00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin13.2%
×Asset turnover1.77×
×Equity multiplier2.33×
=Return on equity, FY202554.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 13.2% | 1.77× | 2.33× | 54.1% |
| FY2024 | 10.2% | 2.86× | 3.58× | 104.2% |
| FY2023 | -3.5% | 3.37× | -3.23× | 38.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zeroCN¥358.73M
- Cash generatingOperating cash flow above zeroCN¥183.89M
- Return on assets improvedROA up on the prior year31.5% → 25.2%
- Earnings backed by cashOperating cash flow above net incomeCN¥183.89M vs CN¥358.73M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.53 → 2.14
- No dilutionShare count did not rise170M → 165M
- Gross margin improvedGross margin up on the prior year85.50% → 81.52%
- More efficientAsset turnover rose3.10 → 1.91