CMC (TSE:2185) EBIT: 円3,811 Mil (TTM As of Mar. 2026)

What is CMC EBIT?

CMC TSE:2185 +0.45% 65 EBIT is 円3,811 Mil as of Mar. 2026. GuruFocus rates TSE:2185 with a GF Score™ of 65/100 and a GF Value™ of 円1,496.35 (Modestly Overvalued). The stock has 4 warning signs investors should review.

CMC's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2026 was 円2,086 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was 円3,811 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CMC's annualized ROC % for the quarter that ended in Mar. 2026 was 20.18%. CMC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 54.51%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. CMC's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 41.11%.

CMC (TSE:2185) EBIT Explanation

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

CMC's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	3649.88 * ( 1 - 31.74% )	/	( (12487.108	+	12204.771)	/ 2 )
=	2491.408088	/	12345.9395
=	20.18 %

where

	Invested Capital		(Q: Sep. 2025 )
=	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	))
=	27137.981	-	1527.34	-	( 13123.533	-	max(0, 3330.226	-	17951.665	+	13123.533	))
=	12487.108

	Invested Capital		(Q: Mar. 2026 )
=	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	))
=	28196.609	-	1805.182	-	( 14186.656	-	max(0, 3105.145	-	18843.359	+	14186.656	))
=	12204.771

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

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

CMC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	4171.888	/	( ( (6115.011 + max(1512.906, 0))	+	(6126.795 + max(1551.558, 0)) )	/	2 )
=	4171.888	/	( ( 7627.917	+	7678.353 )	/	2 )
=	4171.888	/	7653.135
=	54.51 %

where Working Capital is:

	Working Capital		(Q: Sep. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3152.094	+	1067.066	+	608.972)	-	(1527.34	+	0	+	1787.886)
=	1512.906

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3286.901	+	875.326	+	494.476)	-	(1805.182	+	0	+	1299.963)
=	1551.558

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

CMC's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2026 )
	=	3810.637	/	9269.287
	=	41.11 %

* 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.

CMC EBIT Related Terms

CMC EBIT Historical Data

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The historical data trend for CMC's EBIT can be seen below:

CMC EBIT Chart

CMC Annual Data

Trend

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Sep24

Sep25

EBIT

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2,426.07

2,969.45

2,672.49

3,088.48

3,213.98

CMC Semi-Annual Data
	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
EBIT	Get a 7-Day Free Trial															1,457.21	1,631.26	1,489.29	1,724.69	2,085.94

TSE:2185 vs IBM, ACN, FISV: EBIT Comparison

For the Information Technology Services subindustry, CMC's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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.

CMC EV-to-EBIT vs Software Industry

For the Software industry and Technology sector, CMC's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where CMC's EV-to-EBIT falls into.

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65GF Score

CMC Corp TSE:2185

EBIT is just one metric. See GF Score™, valuation, warning signs, and more.

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CMC EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was 円3,811 Mil.

Frequently Asked Questions Learn more about EBIT →

What does a EBIT of 円3,811 Mil mean?

CMC (TSE:2185) has a EBIT of 円3,811 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on CMC.

Is CMC's EBIT too high?

CMC's current EBIT is 円3,811 Mil. Overall, CMC has a GF Score™ of 65/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does CMC's EBIT compare to IBM and ACN?

CMC's EBIT of 円3,811 Mil can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good EBIT for a Software company?

A good EBIT depends on the Software industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high EBIT mean?

A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on CMC. CMC's current EBIT is 円3,811 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is CMC stock overvalued right now?

Based on GuruFocus' analysis, CMC (TSE:2185) is currently considered Modestly Overvalued. The stock's GF Value™ is 円1,496.35, compared to a current price of 円1,796.00 — trading 20% above its estimated fair value. The current EBIT is 円3,811 Mil. CMC's overall GF Score™ is 65/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is EBIT calculated?

EBIT is calculated from a company's financial statements. For CMC (TSE:2185), the current EBIT is 円3,811 Mil 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 CMC (TSE:2185) Overvalued in 2026?

Based on GuruFocus' analysis, CMC stock appears to be overvalued. The current stock price of 円1,796.00 is trading 20% above its estimated GF Value™ of 円1,496.35. GuruFocus considers CMC to be Modestly Overvalued.

Key valuation signals for TSE:2185:

EBIT: 円3,811 Mil
GF Value™: 円1,496.35 vs. price of 円1,796.00 (20% above fair value)
GF Score™: 65/100 with 4 warning signs

No single metric tells the full story. See the TSE:2185 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

CMC Business Description

Industry Technology Software

Comparable Companies TSE:3837 TSE:2158 TSE:4662 TSE:4371 TSE:7505 TSE:3788 TSE:3916 TSE:3565 TSE:4396 TSE:3968 IBM ACN NSE:TCS NSE:INFY TSE:6702 TSE:6701 NSE:HCLTECH FISV XMAD:AMS CTSH

Address 1-19 Heiwa 1-chome, Naka-ku, Nagoya, JPN, 460-0021

Website https://www.cmc.co.jp

CMC Corp is a Japanese company engaged in writing and editing technical manuals for automakers in Japan. The business is comprised of marketing operations and system development operations.

65GF Score

Get the complete analysis for TSE:2185

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円1,796.00

Price

円1,496.35

GF Value

View TSE:2185 Analysis

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