Micronics Japan Co (STU:MJ3) Operating Income : €36.6 Mil (TTM As of Mar. 2024)

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What is Micronics Japan Co Operating Income?

Micronics Japan Co's Operating Income for the three months ended in Mar. 2024 was €15.4 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was €36.6 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Micronics Japan Co's Operating Income for the three months ended in Mar. 2024 was €15.4 Mil. Micronics Japan Co's Revenue for the three months ended in Mar. 2024 was €72.4 Mil. Therefore, Micronics Japan Co's Operating Margin % for the quarter that ended in Mar. 2024 was 21.27%.

Good Sign:

Micronics Japan Co Ltd operating margin is expanding. Margin expansion is usually a good sign.

Micronics Japan Co's 5-Year average Growth Rate for Operating Margin % was 29.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Micronics Japan Co's annualized ROC % for the quarter that ended in Mar. 2024 was 16.76%. Micronics Japan Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 41.96%.

Micronics Japan Co Operating Income Historical Data

The historical data trend for Micronics Japan Co's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Micronics Japan Co Operating Income Chart

Micronics Japan Co Annual Data

Trend

Sep13

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Dec21

Dec22

Operating Income

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24.43

12.39

16.69

64.09

64.55

Micronics Japan Co Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Operating Income	Get a 7-Day Free Trial															13.80	-1.46	5.79	16.87	15.41

Micronics Japan Co Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was €36.6 Mil.

Micronics Japan Co (STU:MJ3) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Micronics Japan Co's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	61.628 * ( 1 - 47.15% )	/	( (192.48	+	196.209)	/ 2 )
=	32.570398	/	194.3445
=	16.76 %

where

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	355.695	-	48.645	-	( 114.57	-	max(0, 76.968	-	220.178	+	114.57	))
=	192.48

	Invested Capital		(Q: Mar. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	359.394	-	46.234	-	( 116.951	-	max(0, 87.647	-	222.332	+	116.951	))
=	196.209

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

Micronics Japan Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	59.124	/	( ( (113.245 + max(34.792, 0))	+	(111.897 + max(21.885, 0)) )	/	2 )
=	59.124	/	( ( 148.037	+	133.782 )	/	2 )
=	59.124	/	140.9095
=	41.96 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(52.378	+	47.945	+	5.285)	-	(48.645	+	0	+	22.171)
=	34.792

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(44.447	+	51.398	+	9.536)	-	(46.234	+	0	+	37.262)
=	21.885

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Micronics Japan Co's Operating Margin % for the quarter that ended in Mar. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	15.407	/	72.424
	=	21.27 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Micronics Japan Co Operating Income Related Terms

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Micronics Japan Co (STU:MJ3) Business Description

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GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Micronics Japan Co Ltd (STU:MJ3) » Definitions » Operating Income

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6871:Japan

Address

2-6-8 Kichijoji Hon-cho, Musashino-shi, Tokyo, JPN, 180 8508

Website

http://www.mjc.co.jp

Micronics Japan Co Ltd is a Japanese company which is engaged in manufacturing of semiconductor and related products. It mainly produces probe cards for testing the electrical properties of wafers, testing equipment and test sockets for property testing after packaging, and a wafer prober, which is used for evaluation and analysis of devices. The company also offers products such as array probers, which are used for testing the electrical properties of flat panel displays (FDP), automated optical inspection equipment used for the display inspection of panels, and probe units that send electrical signals to test panels. Its product portfolio includes probe cards, package probe, semiconductor test equipment, automated optical inspection equipment, probe units, and FDP prober products.

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