Taiko Pharmaceutical Co (TSE:4574) Operating Income : 円-636 Mil (TTM As of Mar. 2024)

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What is Taiko Pharmaceutical Co Operating Income?

Taiko Pharmaceutical Co's Operating Income for the three months ended in Mar. 2024 was 円215 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was 円-636 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Taiko Pharmaceutical Co's Operating Income for the three months ended in Mar. 2024 was 円215 Mil. Taiko Pharmaceutical Co's Revenue for the three months ended in Mar. 2024 was 円1,377 Mil. Therefore, Taiko Pharmaceutical Co's Operating Margin % for the quarter that ended in Mar. 2024 was 15.61%.

Taiko Pharmaceutical Co's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Taiko Pharmaceutical Co's annualized ROC % for the quarter that ended in Mar. 2024 was 14.04%. Taiko Pharmaceutical Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 30.67%.

Taiko Pharmaceutical Co Operating Income Historical Data

The historical data trend for Taiko Pharmaceutical 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.

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Taiko Pharmaceutical Co Operating Income Chart

Taiko Pharmaceutical Co Annual Data

Trend

Mar13

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Dec21

Dec22

Operating Income

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1,857.05

2,029.93

3,824.58

-4,948.00

-3,079.00

Taiko Pharmaceutical 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															-155.00	-242.00	-47.00	-562.00	215.00

Taiko Pharmaceutical 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 円-636 Mil.

Taiko Pharmaceutical Co (TSE:4574) Operating Income Explanation

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

Taiko Pharmaceutical 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 )
=	860 * ( 1 - -9.79% )	/	( (6579	+	6873)	/ 2 )
=	944.194	/	6726
=	14.04 %

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	))
=	13220	-	1157	-	( 5484	-	max(0, 3046	-	9109	+	5484	))
=	6579

	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	))
=	12997	-	886	-	( 5238	-	max(0, 2500	-	8764	+	5238	))
=	6873

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

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

Taiko Pharmaceutical 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 )
=	1724	/	( ( (3581 + max(1812, 0))	+	(3548 + max(2302, 0)) )	/	2 )
=	1724	/	( ( 5393	+	5850 )	/	2 )
=	1724	/	5621.5
=	30.67 %

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)
=	(1985	+	1373	+	267)	-	(1157	+	0	+	656)
=	1812

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1935	+	1472	+	119)	-	(886	+	0	+	338)
=	2302

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 %:

Taiko Pharmaceutical 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 )
	=	215	/	1377
	=	15.61 %

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.

Taiko Pharmaceutical Co Operating Income Related Terms

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Taiko Pharmaceutical Co (TSE:4574) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Taiko Pharmaceutical Co Ltd (TSE:4574) » Definitions » Operating Income

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Traded in Other Exchanges

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Address

No. 34 Third Street, No. 14, Uchihon Suita, Osaka, JPN, 564-0032

Website

http://www.seirogan.co.jp

Taiko Pharmaceutical Co Ltd operates in three segments, namely Pharmaceutical, Infection Control, and Others. The majority of its revenue comes from Infection Control, which is into manufacturing and sales of sanitation control products, including Cleverin, Cleverin LED, and Cleverin Generator LISPASS. The pharmaceutical segment is into the manufacturing and sales of OTC medicines and designated quasi-drugs. Other business includes manufacturing and sales of wood vinegar-based products.

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