Mitani Sekisan Co (TSE:5273) Operating Income : 円12,108 Mil (TTM As of Dec. 2023)

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What is Mitani Sekisan Co Operating Income?

Mitani Sekisan Co's Operating Income for the three months ended in Dec. 2023 was 円3,280 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was 円12,108 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Mitani Sekisan Co's Operating Income for the three months ended in Dec. 2023 was 円3,280 Mil. Mitani Sekisan Co's Revenue for the three months ended in Dec. 2023 was 円21,304 Mil. Therefore, Mitani Sekisan Co's Operating Margin % for the quarter that ended in Dec. 2023 was 15.40%.

Good Sign:

Mitani Sekisan Co Ltd operating margin is expanding. Margin expansion is usually a good sign.

Mitani Sekisan Co's 5-Year average Growth Rate for Operating Margin % was 3.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mitani Sekisan Co's annualized ROC % for the quarter that ended in Dec. 2023 was 14.50%. Mitani Sekisan Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 66.38%.

Mitani Sekisan Co Operating Income Historical Data

The historical data trend for Mitani Sekisan 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.

Mitani Sekisan Co Operating Income Chart

Mitani Sekisan Co Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Operating Income

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8,504.00

7,495.00

7,602.00

9,998.00

12,108.00

Mitani Sekisan Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Operating Income	Get a 7-Day Free Trial															3,142.00	2,947.00	2,721.00	3,280.00	3,160.00

Mitani Sekisan 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 Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was 円12,108 Mil.

Mitani Sekisan Co (TSE:5273) Operating Income Explanation

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

Mitani Sekisan Co's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	13120 * ( 1 - 29.88% )	/	( (57898	+	69004)	/ 2 )
=	9199.744	/	63451
=	14.50 %

where

	Invested Capital		(Q: Sep. 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	))
=	108140	-	10286	-	( 39956	-	max(0, 25103	-	68292	+	39956	))
=	57898

	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	))
=	117616	-	9602	-	( 39010	-	max(0, 24438	-	68893	+	39010	))
=	69004

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

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

Mitani Sekisan Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	13120	/	( ( (15094 + max(3299, 0))	+	(15625 + max(5511, 0)) )	/	2 )
=	13120	/	( ( 18393	+	21136 )	/	2 )
=	13120	/	19764.5
=	66.38 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(20170	+	4631	+	3535)	-	(10286	+	0	+	14751)
=	3299

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(19861	+	4966	+	5056)	-	(9602	+	0	+	14770)
=	5511

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

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

Mitani Sekisan Co's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	3280	/	21304
	=	15.40 %

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.

Mitani Sekisan Co Operating Income Related Terms

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Mitani Sekisan Co (TSE:5273) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Mitani Sekisan Co Ltd (TSE:5273) » Definitions » Operating Income

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Address

1-3-1 Toyoshima, Mitani Building, Fukui-shi,, Fukui, JPN, 910-8571

Website

http://www.m-sekisan.co.jp

Mitani Sekisan Co., Ltd. is a Japanese company. It is engaged in the production and sales of concrete secondary products, manufacture, and sale of gravel products, foundation work, and rental for revetment. The company focuses on manufacturing gravel and stones which are used for civil engineering construction, railway tracking and pavement roadbed materials, raw concrete and various concrete secondary products, aggregates of asphalt composite material and construction materials. It also produces concrete piles and poles and environmental products. The Information-Related Business deals with computer peripheral sales and consigned software production.

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