FIT EASY Inc (212A.T) Q4 2025 Earnings Report

FIT EASY Inc delivered a standout QQ4 2025 performance, underscored by a substantial year-over-year revenue uplift and robust profitability. Revenue for the quarter reached JPY 5.389 billion, up 177.8% YoY and 103.93% QoQ, illustrating a pronounced growth acceleration as the company scales its amusement fitness club concept and expands its franchise footprint. Gross profit was JPY 1.898 billion with a margin of 35.21%, while operating income of JPY 1.237 billion yielded an OPM of 22.95% and EBITDA of JPY 1.362 billion (EBITDA margin 25.29%), signaling meaningful operating leverage at scale. Net income stood at JPY 811.2 million, with a net margin of 15.06% and quarterly diluted EPS of JPY 49.40 (basic EPS JPY 50.93).

From a balance sheet perspective, liquidity remains solid (current ratio 1.713, quick ratio 1.651, cash ratio 0.765) with conservative leverage (debt ratio 0.0653, debt-to-equity 0.121, total debt to capitalization 0.108) and an equity multiplier of 1.857, indicating a modest debt footprint and satisfactory financial flexibility. Management commentary from the QQ4 release is not included in the provided data; consequently, explicit forward-looking guidance is unavailable. The quarterly results imply meaningful top-line momentum and improving profitability, but readers should monitor capex intensity tied to franchise expansion, store openings, and any potential changes in consumer discretionary demand in Japan. Overall, FIT EASY appears well-positioned to sustain growth through scalable franchise economics, supported by a disciplined balance sheet and improving operating efficiency, albeit with execution risk tied to the pace of network expansion and market conditions in the consumer cyclical space.