System Research Co (TSE:3771) EBIT: 円3,518 Mil (TTM As of Mar. 2026)

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TSE:3771 System Research Co Ltd TSE:3771
84 GF Score
Price 円1,799.00
GF Value 円2,040.97
Valuation Modestly Undervalued
! 1 Warning Sign
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What is System Research Co EBIT?

System Research Co TSE:3771 +0.73% 84 EBIT is 円3,518 Mil as of Mar. 2026. GuruFocus rates TSE:3771 with a GF Score™ of 84/100 and a GF Value™ of 円2,040.97 (Modestly Undervalued). The stock has 1 warning sign investors should review.

System Research Co's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2026 was 円1,981 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was 円3,518 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. System Research Co's annualized ROC % for the quarter that ended in Mar. 2026 was 34.11%. System Research Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 83.34%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. System Research Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 15.87%.


System Research Co  (TSE:3771) EBIT Explanation

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

System Research 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 )
=3901.364 * ( 1 - 24.55% )/( (8371.729 + 8888.428)/ 2 )
=2943.579138/8630.0785
=34.11 %

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))
=17017.371 - 1625.325 - ( 7020.317 - max(0, 4584.801 - 12705.059+7020.317))
=8371.729

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))
=19458.796 - 2140.593 - ( 8429.775 - max(0, 5597.36 - 14797.873+8429.775))
=8888.428

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:

System Research 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 )
=3962.082/( ( (3234.394 + max(1835.181, 0)) + (3503.944 + max(934.344, 0)) )/ 2 )
=3962.082/( ( 5069.575 + 4438.288 )/ 2 )
=3962.082/4753.9315
=83.34 %

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)
=(5457.211 + 68.56 + 158.971) - (1625.325 + 0 + 2224.236)
=1835.181

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(5789.765 + 57.784 + 103.575) - (2140.593 + 0 + 2876.187)
=934.344

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=3517.605/22169.988
=15.87 %

* 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.


System Research Co EBIT Related Terms


System Research Co EBIT Historical Data

* Premium members only.

The historical data trend for System Research 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.

System Research Co EBIT Chart

System Research Co Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,121.45 2,160.81 2,685.15 3,083.71 3,517.61

System Research 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 1,471.82 1,243.17 1,840.54 1,536.56 1,981.04

TSE:3771 vs UBER, SHOP, CRM: EBIT Comparison

For the Software - Application subindustry, System Research 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.


System Research Co EV-to-EBIT vs Software Industry

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

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


TSE:3771
84GF Score
System Research Co Ltd TSE:3771
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

System Research 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3,518 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3,518 Mil mean?
System Research Co (TSE:3771) has a EBIT of 円3,518 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on System Research Co.
Is System Research Co's EBIT too high?
System Research Co's current EBIT is 円3,518 Mil. Overall, System Research Co has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does System Research Co's EBIT compare to UBER and SHOP?
System Research Co's EBIT of 円3,518 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 System Research Co. System Research Co's current EBIT is 円3,518 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is System Research Co stock overvalued right now?
Based on GuruFocus' analysis, System Research Co (TSE:3771) is currently considered Modestly Undervalued. The stock's GF Value™ is 円2,040.97, compared to a current price of 円1,799.00 — trading 11.9% below its estimated fair value. The current EBIT is 円3,518 Mil. System Research Co's overall GF Score™ is 84/100 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 System Research Co (TSE:3771), the current EBIT is 円3,518 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 System Research Co (TSE:3771) Overvalued in 2026?

Based on GuruFocus' analysis, System Research Co stock appears to be undervalued. The current stock price of 円1,799.00 is trading 11.9% below its estimated GF Value™ of 円2,040.97. GuruFocus considers System Research Co to be Modestly Undervalued.

Key valuation signals for TSE:3771:

  • EBIT: 円3,518 Mil
  • GF Value™: 円2,040.97 vs. price of 円1,799.00 (11.9% below fair value)
  • GF Score™: 84/100 with 1 warning sign

No single metric tells the full story. See the TSE:3771 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


System Research Co Business Description

Address 2-12, Iwatsukahon-tori, Nakamura-ku, Nagoya, JPN, 453-0861
System Research Co Ltd is a software application service provider in Japan. The business of the company includes SI service operations, outsourcing business, web-related business, software development work, software product business, and product sales.
84GF Score

Get the complete analysis for TSE:3771

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

円1,799.00
Price
円2,040.97
GF Value