Trend Micro, 9% Increase in Ordinary Profit, Update Record High for Second Consecutive Term

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Tue Feb 18, 2025 3:30 pm JST Earnings

4704 Trend Micro Incorporated 【J-GAAP】

Earnings Report

Trend Micro Incorporated <4704> [TSE Prime] announced its financial results after the market closed on February 18th (15:30). The consolidated ordinary profit for the fiscal year ending December 2024 expanded 46.0% from the previous period to 52.8 billion yen. In the fiscal year ending December 2025, the profit is expected to grow by 9.0% to 57.6 billion yen, marking the second consecutive term of record-high profits. This will be the thirteenth consecutive term of revenue and the third consecutive term of profit growth.

At the same time, the company decided to implement a year-end dividend of 184 yen for the previous term, which had been previously undecided, and has left the annual dividend for the current term undetermined.

In the most recent three-month period, from October to December (4Q), the consolidated ordinary profit surged 3.4 times that of the same period last year, reaching 14.5 billion yen. The operating profit margin drastically improved from 4.6% in the same period last year to 12.7%.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	223,795	31,340	34,162	29,843	213.6	151	Feb 16, 2023	J-GAAP
Dec, 2023	248,691	32,602	36,181	10,731	78.5	738	Feb 15, 2024	J-GAAP
Dec, 2024	272,638	48,105	52,840	34,358	259.1	184	Feb 18, 2025	J-GAAP
YoY	+9.6%	+47.6%	+46.0%	+220.2%	+230.2%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Guidance	271,000	52,900	50,100	34,600	263.7	－	Feb 15, 2024	J-GAAP
Dec, 2024 Results	272,638	48,105	52,840	34,358	259.1	184	Feb 18, 2025	J-GAAP
Revision Rate	+0.6%	-9.1%	+5.5%	-0.7%	-1.8%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan - Jun, 2024	134,534	24,436	26,371	17,895	133.2	0	Aug 8, 2024	J-GAAP
Jan - Jun, 2025 Guidance	ー	ー	ー	ー	－	0	Feb 18, 2025	J-GAAP
YoY	－	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2023	248,691	32,602	36,181	10,731	78.5	738	Feb 15, 2024	J-GAAP
Dec, 2024	272,638	48,105	52,840	34,358	259.1	184	Feb 18, 2025	J-GAAP
Dec, 2025 Guidance	288,600	60,300	57,600	38,900	296.1	－	Feb 18, 2025	J-GAAP
YoY	+5.9%	+25.4%	+9.0%	+13.2%	+14.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	64,966	2,989	4,246	-2,075	-15.2	4.6	Feb 15, 2024	J-GAAP
Jan - Mar, 2024	65,931	12,127	13,664	10,754	79.3	18.4	May 8, 2024	J-GAAP
Apr - Jun, 2024	68,603	12,309	12,707	7,141	53.1	17.9	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	68,124	14,801	11,960	8,523	64.0	21.7	Nov 12, 2024	J-GAAP
Oct - Dec, 2024	69,980	8,868	14,509	7,940	59.9	12.7	Feb 18, 2025	J-GAAP
YoY	+7.7%	+196.7%	+241.7%	－	－