CRI Middleware Co (TSE:3698) EBIT: 円468 Mil (TTM As of Mar. 2026)


TSE:3698 CRI Middleware Co Ltd TSE:3698
88 GF Score
Price 円1,202.00
GF Value 円1,145.47
Valuation Fairly Valued
! 1 Warning Sign
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What is CRI Middleware Co EBIT?

CRI Middleware Co TSE:3698 +1.01% 88 EBIT is 円468 Mil as of Mar. 2026. GuruFocus rates TSE:3698 with a GF Score™ of 88/100 and a GF Value™ of 円1,145.47 (Fairly Valued). The stock has 1 warning sign investors should review.

CRI Middleware Co's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2026 was 円301 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was 円468 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CRI Middleware Co's annualized ROC % for the quarter that ended in Mar. 2026 was 20.33%. CRI Middleware Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 119.14%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. CRI Middleware Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 13.46%.


CRI Middleware Co  (TSE:3698) EBIT Explanation

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

CRI Middleware Co'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 )
=602.276 * ( 1 - 29.29% )/( (2301.94 + 1887.708)/ 2 )
=425.8693596/2094.824
=20.33 %

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))
=5839.834 - 150.165 - ( 4242.352 - max(0, 1569.56 - 4957.289+4242.352))
=2301.94

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))
=4840.436 - 114.043 - ( 2838.685 - max(0, 485.022 - 3907.417+2838.685))
=1887.708

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:

CRI Middleware Co'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 )
=602.276/( ( (142.286 + max(145.377, 0)) + (139.648 + max(583.71, 0)) )/ 2 )
=602.276/( ( 287.663 + 723.358 )/ 2 )
=602.276/505.5105
=119.14 %

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)
=(616.343 + 22.657 + 75.937) - (150.165 + 0 + 419.395)
=145.377

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(954.074 + 10.602 + 104.056) - (114.043 + 0 + 370.979)
=583.71

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:

CRI Middleware Co's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=467.999/3477.879
=13.46 %

* 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.


CRI Middleware Co EBIT Related Terms


CRI Middleware Co EBIT Historical Data

* Premium members only.

The historical data trend for CRI Middleware Co'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.

CRI Middleware Co EBIT Chart

CRI Middleware Co Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 284.46 97.43 344.88 368.36 554.38

CRI Middleware Co 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 185.61 182.75 387.52 166.86 301.14

TSE:3698 vs NTES, EA, TTWO: EBIT Comparison

For the Electronic Gaming & Multimedia subindustry, CRI Middleware Co'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.


CRI Middleware Co EV-to-EBIT vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, CRI Middleware Co's EV-to-EBIT distribution charts can be found below:

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


TSE:3698
88GF Score
CRI Middleware Co Ltd TSE:3698
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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CRI Middleware Co 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468 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468 Mil mean?
CRI Middleware Co (TSE:3698) has a EBIT of 円468 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on CRI Middleware Co.
Is CRI Middleware Co's EBIT too high?
CRI Middleware Co's current EBIT is 円468 Mil. Overall, CRI Middleware Co has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CRI Middleware Co's EBIT compare to NTES and EA?
CRI Middleware Co's EBIT of 円468 Mil can be compared against companies in the Interactive Media 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 an Interactive Media company?
A good EBIT depends on the Interactive Media 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 CRI Middleware Co. CRI Middleware Co's current EBIT is 円468 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CRI Middleware Co stock overvalued right now?
Based on GuruFocus' analysis, CRI Middleware Co (TSE:3698) is currently considered Fairly Valued. The stock's GF Value™ is 円1,145.47, compared to a current price of 円1,202.00 — trading 4.9% above its estimated fair value. The current EBIT is 円468 Mil. CRI Middleware Co's overall GF Score™ is 88/100 with 1 warning sign 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 CRI Middleware Co (TSE:3698), the current EBIT is 円468 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 CRI Middleware Co (TSE:3698) Overvalued in 2026?

Based on GuruFocus' analysis, CRI Middleware Co stock appears to be overvalued. The current stock price of 円1,202.00 is trading 4.9% above its estimated GF Value™ of 円1,145.47. GuruFocus considers CRI Middleware Co to be Fairly Valued.

Key valuation signals for TSE:3698:

  • EBIT: 円468 Mil
  • GF Value™: 円1,145.47 vs. price of 円1,202.00 (4.9% above fair value)
  • GF Score™: 88/100 with 1 warning sign

No single metric tells the full story. See the TSE:3698 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CRI Middleware Co Business Description

Address 20-1 Sakuragaoka-cho, 11th Floor, Shibuya Info Tower, Shibuya-ku, Tokyo, JPN, 150-0031
CRI Middleware Co Ltd is a provider of audio and video solutions for the gaming industry. It is engaged in the research and development of voice, video and file systems. Further, it also provides sales and support of middleware products. Geographically, the activities are carried out through the region of Japan.
88GF Score

Get the complete analysis for TSE:3698

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

円1,202.00
Price
円1,145.47
GF Value