Choei (TSE:2993) EBIT: 円2,237 Mil (TTM As of Mar. 2026)


TSE:2993 Choei Inc TSE:2993
62 GF Score
Price 円2,084.00
GF Value 円2,465.20
Valuation Modestly Undervalued
! 6 Warning Signs
View Full Analysis

What is Choei EBIT?

Choei TSE:2993 -3.02% 62 EBIT is 円2,237 Mil as of Mar. 2026. GuruFocus rates TSE:2993 with a GF Score™ of 62/100 and a GF Value™ of 円2,465.20 (Modestly Undervalued). The stock has 6 warning signs investors should review.

Choei's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2026 was 円1,146 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was 円2,237 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Choei's annualized ROC % for the quarter that ended in Mar. 2026 was 2.46%. Choei's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 3.93%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Choei's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.28%.

Choei  (TSE:2993) EBIT Explanation

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

Choei'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 )
=2116.774 * ( 1 - 27.51% )/( (60358.594 + 64430.076)/ 2 )
=1534.4494726/62394.335
=2.46 %

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))
=68717.421 - 471.23 - ( 10918.211 - max(0, 3990.93 - 11878.527+10918.211))
=60358.594

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))
=73016.327 - 656.074 - ( 11966.543 - max(0, 4688.226 - 12618.403+11966.543))
=64430.076

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:

Choei'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 )
=2292.102/( ( (56529.149 + max(-1102.151, 0)) + (60097.01 + max(-1626.045, 0)) )/ 2 )
=2292.102/( ( 56529.149 + 60097.01 )/ 2 )
=2292.102/58313.0795
=3.93 %

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)
=(245.222 + 93.92 + 621.174) - (471.23 + 0 + 1591.237)
=-1102.151

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(336.156 + 76.937 + 238.767) - (656.074 + 0 + 1621.831)
=-1626.045

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=2236.925/52211.663
=4.28 %

* 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.

Choei EBIT Related Terms

Choei EBIT Historical Data

* Premium members only.

The historical data trend for Choei's EBIT 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.

Choei EBIT Chart

Choei Annual Data
Trend Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
EBIT
Get a 7-Day Free Trial 2,898.68 2,512.98 2,394.47 3,589.49 2,236.93

Choei Semi-Annual Data
Mar20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,120.92 1,195.69 2,393.80 1,090.87 1,146.05

TSE:2993 vs CBRE, BEKE: EBIT Comparison

For the Real Estate Services subindustry, Choei'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.

Choei EV-to-EBIT vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Choei's EV-to-EBIT distribution charts can be found below:

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


TSE:2993
62GF Score
Choei Inc TSE:2993
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Choei 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2,237 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of 円2,237 Mil mean?
Choei (TSE:2993) has a EBIT of 円2,237 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Choei.
Is Choei's EBIT too high?
Choei's current EBIT is 円2,237 Mil. Overall, Choei has a GF Score™ of 62/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Choei's EBIT compare to CBRE and BEKE?
Choei's EBIT of 円2,237 Mil can be compared against companies in the Real Estate 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 Real Estate company?
A good EBIT depends on the Real Estate 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 Choei. Choei's current EBIT is 円2,237 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Choei stock overvalued right now?
Based on GuruFocus' analysis, Choei (TSE:2993) is currently considered Modestly Undervalued. The stock's GF Value™ is 円2,465.20, compared to a current price of 円2,084.00 — trading 15.5% below its estimated fair value. The current EBIT is 円2,237 Mil. Choei's overall GF Score™ is 62/100 with 6 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 Choei (TSE:2993), the current EBIT is 円2,237 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 Choei (TSE:2993) Overvalued in 2026?

Based on GuruFocus' analysis, Choei stock appears to be undervalued. The current stock price of 円2,084.00 is trading 15.5% below its estimated GF Value™ of 円2,465.20. GuruFocus considers Choei to be Modestly Undervalued.

Key valuation signals for TSE:2993:

  • EBIT: 円2,237 Mil
  • GF Value™: 円2,465.20 vs. price of 円2,084.00 (15.5% below fair value)
  • GF Score™: 62/100 with 6 warning signs

No single metric tells the full story. See the TSE:2993 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Choei Business Description

Address 70 Fukakusa Nishiuracho 3-chome, 5th Choei Astro Building, Fushimi-ku, Kyoto, JPN
Choei Inc is engaged in the real estate management and real estate rental businesses. The real estate management business provides necessary services for rental property management, such as building maintenance, renovation work, and rental brokerage (leasing), in addition to tenant management, and the real estate rental business mainly handles the rental of its properties and subleased properties. The company's reportable segments are Property Rental Business, which generates the maximum revenue, and the Property Management Business.
62GF Score

Get the complete analysis for TSE:2993

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

円2,084.00
Price
円2,465.20
GF Value