MWCNasdaqServices-Computer Programming ServicesFiscal year ends February 28
Micware Co., Ltd.
Financials through fiscal 2026, year ended Feb 28, 2026Last filing: 20-F on Jun 30, 2026
$1.65+0.02 (+1.54%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2023 to 2026
Gross margin
36.8%
Operating margin
10.8%
Net margin
7.3%
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.7% | – | – | – | |
| Gross profit | +8.9% | – | – | – | |
| Operating income | +9.4% | – | – | – | |
| Net income | +20.4% | – | – | – | |
| EPS, diluted | +12.1% | – | – | – | |
| Free cash flow | +10.5% | – | – | – |
Returns and balance sheet
4 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2023 | FY2023 | FY2026 | Trend |
|---|---|---|---|---|
| Current ratio | – | – | 1.66 | |
| Debt to equity | – | – | 0.42 | |
| Net debt to EBITDA | – | – | -1.75× | |
| Interest coverage | – | – | 47.8× | |
| Capex to revenue | – | – | 1.2% | |
| Diluted shares | – | – | 56M |
Cash use needs five years of cash flow figures
Micware does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin7.3%
×Asset turnover0.92×
×Equity multiplier3.26×
=Return on equity, FY202622.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 7.3% | 0.92× | 3.26× | 22.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
5of 7 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero¥1.60B
- Cash generatingOperating cash flow above zero¥2.07B
- Return on assets improvedROA up on the prior year– → 7.0%
- Earnings backed by cashOperating cash flow above net income¥2.07B vs ¥1.60B
- Less leverageLong-term debt to assets fell18.6% → 10.5%
- Better liquidityCurrent ratio rose1.92 → 1.66
- No dilutionShare count did not rise52M → 56M
- Gross margin improvedGross margin up on the prior year34.99% → 36.77%
- More efficientAsset turnover rose– → 0.95