Air Water Inc. logo

Air Water Inc.

4088.T

JPXBasic MaterialsChemicals - Specialty

Latest quote

¥2,488

−¥9.00 · -0.36%

Aug 24, 3:30 PM JST

4088.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Air Water Inc., established in 1929 and headquartered in Osaka, Japan, is a diversified conglomerate operating across numerous sectors including industrial gas, chemicals, medical products, energy, agriculture, and food. Its industrial gas division produces and supplies a range of atmospheric and specialty gases, such as oxygen, nitrogen, argon, carbon dioxide, hydrogen, and helium. This segment also delivers air separation systems, gas handling equipment, argon-based shielding gases, special gases, and comprehensive engineering solutions. The chemicals sector provides quinone, organic acids, fine chemicals, and custom synthesis services. It also develops pharmaceutical and agricultural chemical intermediates, electronic materials, printed circuit boards, and various carbon-based materials. In healthcare, Air Water Inc. offers medical oxygen, nitric oxide, and liquefied helium. It manages hospital facilities and provides a wide array of medical equipment, such as endoscope systems, hyperbaric oxygen chambers, respiratory support devices, and surgical instruments. The company further extends its medical services to include supply chain management, instrument sterilization, and consumer-focused products like oxygen concentrators, infusion pumps, hygiene materials, injection needles, dental technology, and nursing care items. The energy business distributes liquefied petroleum (LP) gas, kerosene, and natural gas (LNG). It also supplies various household and commercial energy appliances, including water heaters, stoves, boilers, kitchen systems, toilets, unit baths, garages, and carports. Specialized transport equipment like LP gas-type mobile power source vehicles, LNG transport equipment, and fuel lorries are also part of its offerings. Within agriculture and food products, the company provides a wide selection of items from hams and sausages to frozen foods, sweets, fresh vegetables, and beverages (soft drinks, vegetable, and fruit). It also manufactures agricultural machinery and offers wholesale, processing, and retail services for fruits and vegetables. Additionally, Air Water Inc. provides comprehensive logistics services, encompassing high-pressure gas, general cargo, food transport, and bodywork. Its remaining portfolio features salt, environmental solutions, seaweed and adsorbent products, electricity supply, magnesia, aerosol products, electronic materials, phenolic resins, O-rings, metal surface treatment services, artificial recycled wood, SiC substrates, and various engineering services.

Industry
Chemicals - Specialty
Sector
Basic Materials
Headquarters
JP
CEO
Ryosuke Matsubayashi
Listed since
Jan 1, 2001
Employees
21,824

Market position

Day range

Current ¥2,488

52-week range

Current ¥2,488

Open
¥2,510
Previous close
¥2,497
Volume
535.5K
0.3× average
Average volume
1.78M
Average daily volume
Market cap
570.31B JPY
Beta
0.28
Market reference 1
50-day average
¥2,590.94
-3.97% below average
200-day average
¥2,329.36
+6.81% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
-9.53×
P/B (TTM)
1.46×
P/S (TTM)
0.52×
Dividend yield
3.01%

Profitability & efficiency

Gross margin
22.29%
Operating margin
4.41%
Net margin
-5.45%

Financial health

Debt / equity
1.32×
Altman Z-score
1.66
Piotroski F-score
4 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends24%17%9%2%Gross margin, FY2022: 20.81%Gross margin, FY2023: 18.38%Gross margin, FY2024: 19.87%Gross margin, FY2025: 19.89%Gross margin, FY2026: 22.09%Operating margin, FY2022: 6.69%Operating margin, FY2023: 4.95%Operating margin, FY2024: 6.04%Operating margin, FY2025: 6.02%Operating margin, FY2026: 6.17%Net margin, FY2022: 4.86%Net margin, FY2023: 3.99%Net margin, FY2024: 4.33%Net margin, FY2025: 4.56%Net margin, FY2026: 3.94%FY2022FY2023FY2024FY2025FY2026
Gross margin FY2022 20.81%. Gross margin FY2023 18.38%. Gross margin FY2024 19.87%. Gross margin FY2025 19.89%. Gross margin FY2026 22.09%. Operating margin FY2022 6.69%. Operating margin FY2023 4.95%. Operating margin FY2024 6.04%. Operating margin FY2025 6.02%. Operating margin FY2026 6.17%. Net margin FY2022 4.86%. Net margin FY2023 3.99%. Net margin FY2024 4.33%. Net margin FY2025 4.56%. Net margin FY2026 3.94%.

Income trends

Revenue

1.01T JPY-5.84%

Operating income

62.54B JPY-3.43%

Net income

39.93B JPY-18.64%
Income trends across reported periods1.18T JPY765.13B JPY350.73B JPY−63.67B JPYRevenue, FY2022: 888.67B JPYRevenue, FY2023: 1T JPYRevenue, FY2024: 1.02T JPYRevenue, FY2025: 1.08T JPYRevenue, FY2026: 1.01T JPYOperating income, FY2022: 59.41B JPYOperating income, FY2023: 49.71B JPYOperating income, FY2024: 61.86B JPYOperating income, FY2025: 64.76B JPYOperating income, FY2026: 62.54B JPYNet income, FY2022: 43.22B JPYNet income, FY2023: 40.14B JPYNet income, FY2024: 44.36B JPYNet income, FY2025: 49.08B JPYNet income, FY2026: 39.93B JPYFY2022FY2023FY2024FY2025FY2026
Revenue FY2022 888.67B JPY. Revenue FY2023 1T JPY. Revenue FY2024 1.02T JPY. Revenue FY2025 1.08T JPY. Revenue FY2026 1.01T JPY. Operating income FY2022 59.41B JPY. Operating income FY2023 49.71B JPY. Operating income FY2024 61.86B JPY. Operating income FY2025 64.76B JPY. Operating income FY2026 62.54B JPY. Net income FY2022 43.22B JPY. Net income FY2023 40.14B JPY. Net income FY2024 44.36B JPY. Net income FY2025 49.08B JPY. Net income FY2026 39.93B JPY.
Metric (JPY)FY2026FY2025FY2024FY2023FY2022
Revenue1.01T JPY1.08T JPY1.02T JPY1T JPY888.67B JPY
Cost of goods sold789.31B JPY861.92B JPY820.93B JPY820.2B JPY703.71B JPY
Gross profit223.76B JPY214.01B JPY203.61B JPY184.71B JPY184.95B JPY
Research and development4.99B JPY6.17B JPY5.45B JPY5.34B JPY
Selling, general, and administrative168.78B JPY149.24B JPY141.76B JPY135.01B JPY125.54B JPY
Operating expenses161.22B JPY149.24B JPY141.76B JPY135.01B JPY125.54B JPY
Interest income4.11B JPY1.46B JPY726M JPY499M JPY301M JPY
Interest expense5.78B JPY4.94B JPY4.27B JPY2.88B JPY2.28B JPY
Depreciation and amortization57.06B JPY49.23B JPY46.59B JPY44.99B JPY43.38B JPY
Operating income62.54B JPY64.76B JPY61.86B JPY49.71B JPY59.41B JPY
Net income39.93B JPY49.08B JPY44.36B JPY40.14B JPY43.22B JPY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
100%
5 beats, 0 misses, 0 met estimates
Average EPS surprise
+81.83%
5 comparable reports
Latest EPS result
84.57
Estimate -139.23 · Beat by 160.74%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates161.5153.84-53.84-161.51Q1 '25No estimateQ2 '25No estimateQ3 '25No estimateQ4 '25BeatQ1 '26BeatQ2 '26No estimateQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 7, 2025: actual 64.96, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 13, 2025: actual 61.38, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 7, 2025: actual 46.81, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 5, 2025: actual 64.96, estimate -139.23, surprise +146.66%, Beat. Q1 2026, reported Feb 13, 2026: actual 139.23, estimate 84.57, surprise +64.63%, Beat. Q2 2026, reported Jun 4, 2026: actual 46.8, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 3, 2026: actual 84.57, estimate -139.23, surprise +160.74%, Beat. Q4 2026, reported Nov 5, 2026: actual —, estimate 84.57, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates347.46B311.51B275.55B239.59BQ1 '25MetQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 7, 2025: actual 276.91B JPY, estimate 276.91B JPY, surprise 0.00%, Met estimate. Q2 2025, reported May 13, 2025: actual 291.06B JPY, estimate 305.97B JPY, surprise -4.87%, Miss. Q3 2025, reported Aug 7, 2025: actual 255.71B JPY, estimate 255.99B JPY, surprise -0.11%, Miss. Q4 2025, reported Nov 5, 2025: actual 276.91B JPY, estimate 277.47B JPY, surprise -0.20%, Miss. Q1 2026, reported Feb 13, 2026: actual 260.93B JPY, estimate 277.5B JPY, surprise -5.97%, Miss. Q2 2026, reported Jun 4, 2026: actual 255.71B JPY, estimate 334.1B JPY, surprise -23.46%, Miss. Q3 2026, reported Aug 3, 2026: actual 252.95B JPY, estimate 313.8B JPY, surprise -19.39%, Miss. Q4 2026, reported Nov 5, 2026: actual —, estimate 297B JPY, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

¥80.50

2025 complete year+64.3% since 2021

2026 partial: ¥37.50

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Mar 30, 2026

¥37.50

Semi-Annual

Record Mar 31, 2026 · Payment Jun 30, 2026

Dividend

Ex-dividend Sep 29, 2025

¥37.50

Semi-Annual

Record Sep 30, 2025 · Payment Dec 8, 2025

Dividend

Ex-dividend Mar 28, 2025

¥43.00

Semi-Annual

Record Mar 31, 2025 · Payment Jun 27, 2025

Dividend

Ex-dividend Sep 27, 2024

¥32.00

Semi-Annual

Record Sep 30, 2024 · Payment Dec 2, 2024

Dividend

Ex-dividend Mar 28, 2024

¥34.00

Semi-Annual

Record Mar 31, 2024 · Payment Jun 27, 2024

Dividend

Ex-dividend Sep 28, 2023

¥30.00

Annual

Record Sep 30, 2023 · Payment Dec 1, 2023

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