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Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue.
TOKYO PRINTING INK MFG Co's Degree of Operating Leverage for the quarter that ended in Mar. 2026 was 9.44. The higher Degree of Operating Leverage, the higher operating risk the company will take.
The industry rank for TOKYO PRINTING INK MFG Co's Degree of Operating Leverage or its related term are showing as below:
TSE:4635's Degree of Operating Leverage is ranked worse than 82.2% of 1556
companies
in the Chemicals industry
Industry Median: 1.27
vs TSE:4635: 9.44
TOKYO PRINTING INK MFG Co (TSE:4635) Degree of Operating Leverage Explanation
Degree of Operating Leverage (DOL) is a leverage ratio that measures the sensitivity of a company’s operting income, also referred to as Earnings Before Interest and Taxes (EBIT), to fluctuations in its Revenue. DOL is a method used to quantify a company’s operating risk. This risk is related to the company's structure of variable costs and fixed costs. Since the fixed costs do not allow the company to adjust the operating costs, the operating risk rises with a higher fixed-to-variable costs proportion.
A high Degree of Operating Leverage indicates that the company’s fixed costs exceed its variable costs. By increasing the sales, the company can earn more profits. In addition, the company must be able to maintain relatively high sales to cover all fixed costs.
Be Aware
The use of operating leverage varies across different industries and business sectors, and the application of Degree of Operating Leverage (DOL) should be adjusted accordingly.
TOKYO PRINTING INK MFG Co Degree of Operating Leverage Related Terms
TOKYO PRINTING INK MFG Co Degree of Operating Leverage Historical Data
* Premium members only.
The historical data trend for TOKYO PRINTING INK MFG Co's Degree of Operating Leverage 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.
TOKYO PRINTING INK MFG Co Degree of Operating Leverage Chart
TSE:4635 vs LIN, SHW, ECL: Degree of Operating Leverage Comparison
For the Specialty Chemicals subindustry, TOKYO PRINTING INK MFG Co's Degree of Operating Leverage, along with its competitors' market caps and Degree of Operating Leverage data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
TOKYO PRINTING INK MFG Co Degree of Operating Leverage vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, TOKYO PRINTING INK MFG Co's Degree of Operating Leverage distribution charts can be found below:
* The bar in red indicates where TOKYO PRINTING INK MFG Co's Degree of Operating Leverage falls into.
* 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.
** TTM data of EBIT and Revenue was used to calculate Degree of Operating Leverage.
*** Please be aware that the Degree of Operating Leverage calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
What does a Degree of Operating Leverage of 9.44 mean?
TOKYO PRINTING INK MFG Co (TSE:4635) has a Degree of Operating Leverage of 9.44 as of Mar. 2026. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for TOKYO PRINTING INK MFG Co and its competitors. According to the industry distribution chart, TOKYO PRINTING INK MFG Co ranks #1279 out of 1556 companies in the Chemicals industry, placing it in the top 82.2%.
Is TOKYO PRINTING INK MFG Co's Degree of Operating Leverage too high?
TOKYO PRINTING INK MFG Co's current Degree of Operating Leverage is 9.44. The Chemicals industry median Degree of Operating Leverage is 1.27. TOKYO PRINTING INK MFG Co's value of 9.44 is 643.3% above this industry median. Based on the distribution chart, TOKYO PRINTING INK MFG Co ranks #1279 out of 1556 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, TOKYO PRINTING INK MFG Co has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TOKYO PRINTING INK MFG Co's Degree of Operating Leverage compare to LIN and SHW?
According to the Chemicals industry distribution chart, TOKYO PRINTING INK MFG Co ranks #1279 out of 1556 companies for Degree of Operating Leverage. This places TOKYO PRINTING INK MFG Co in the lower half of its industry. The industry median Degree of Operating Leverage is 1.27. TOKYO PRINTING INK MFG Co's value of 9.44 is 643.3% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Degree of Operating Leverage for a Chemicals company?
The median Degree of Operating Leverage among Chemicals companies is 1.27, based on 1,556 companies in the industry. Companies in the top quartile (top 25%) have a Degree of Operating Leverage significantly above this median, while those in the bottom quartile fall well below. However, Degree of Operating Leverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. TOKYO PRINTING INK MFG Co's current Degree of Operating Leverage of 9.44 is 643.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Degree of Operating Leverage mean?
A high Degree of Operating Leverage can signal that a stock is expensive relative to its fundamentals. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for TOKYO PRINTING INK MFG Co and its competitors. For the Chemicals industry, the median Degree of Operating Leverage is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TOKYO PRINTING INK MFG Co's current Degree of Operating Leverage is 9.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TOKYO PRINTING INK MFG Co stock overvalued right now?
Based on GuruFocus' analysis, TOKYO PRINTING INK MFG Co (TSE:4635) is currently considered Significantly Overvalued. The stock's GF Value™ is 円797.07, compared to a current price of 円2,024.00 — trading 153.9% above its estimated fair value. The current Degree of Operating Leverage is 9.44 and 643.3% above the Chemicals industry median of 1.27. TOKYO PRINTING INK MFG Co's overall GF Score™ is 58/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Degree of Operating Leverage calculated?
Degree of Operating Leverage is calculated from a company's financial statements. For TOKYO PRINTING INK MFG Co (TSE:4635), the current Degree of Operating Leverage is 9.44 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is TOKYO PRINTING INK MFG Co (TSE:4635) Overvalued in 2026?
Based on GuruFocus' analysis, TOKYO PRINTING INK MFG Co stock appears to be overvalued.
The current stock price of 円2,024.00 is trading 153.9% above its estimated GF Value™ of 円797.07.
GuruFocus considers TOKYO PRINTING INK MFG Co to be Significantly Overvalued.
Key valuation signals for TSE:4635:
Degree of Operating Leverage: 9.44
GF Value™: 円797.07 vs. price of 円2,024.00 (153.9% above fair value)
Industry Position: 643.3% above the Chemicals median (#1279 of 1556)
No single metric tells the full story. See the TSE:4635 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TOKYO PRINTING INK MFG Co Ltd is the speciality chemicals manufacturing company. The core business segments of the company comprise of the followings - Ink business, Chemical Products, and Processed Products business. Ink business offers offset printing, gravure ink, inkjet ink, high performance, and high-quality printer ink. Chemical Products includes colorant for plastics, functional additives for plastics, and other functional products. The Processed Products business supply packaging materials, civil engineering materials and agricultural materials for various industrial applications.
58GF Score
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