Makiya Co (TSE:9890) EBIT: 円2,275 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:9890 Makiya Co Ltd TSE:9890
83 GF Score
Price 円1,397.00
GF Value 円1,251.36
Valuation Modestly Overvalued
! 5 Warning Signs
View Full Analysis

What is Makiya Co EBIT?

Makiya Co TSE:9890 +1.97% 83 EBIT is 円2,275 Mil as of Mar. 2026. GuruFocus rates TSE:9890 with a GF Score™ of 83/100 and a GF Value™ of 円1,251.36 (Modestly Overvalued). The stock has 5 warning signs investors should review.

Makiya Co's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2026 was 円1,187 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was 円2,275 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Makiya Co's annualized ROC % for the quarter that ended in Mar. 2026 was 4.69%. Makiya Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 9.92%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Makiya Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 13.94%.

Makiya Co  (TSE:9890) EBIT Explanation

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

Makiya 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 )
=2294.422 * ( 1 - 32.56% )/( (33461.801 + 32471.214)/ 2 )
=1547.3581968/32966.5075
=4.69 %

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))
=39992.4 - 6844.47 - ( 3592.563 - max(0, 12324.544 - 12010.673+3592.563))
=33461.801

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))
=40843.536 - 9155.745 - ( 3401.577 - max(0, 12614.512 - 11831.089+3401.577))
=32471.214

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:

Makiya 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 )
=2373.326/( ( (23458.502 + max(-1915.783, 0)) + (24394.416 + max(-1897.016, 0)) )/ 2 )
=2373.326/( ( 23458.502 + 24394.416 )/ 2 )
=2373.326/23926.459
=9.92 %

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)
=(2040.143 + 5895.704 + 482.263) - (6844.47 + 0 + 3489.423)
=-1915.783

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2317.844 + 5659.177 + 452.491) - (9155.745 + 0 + 1170.783)
=-1897.016

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=2275.348/16325.785
=13.94 %

* 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.

Makiya Co EBIT Related Terms

Makiya Co EBIT Historical Data

* Premium members only.

The historical data trend for Makiya 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.

Makiya Co EBIT Chart

Makiya 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 1,755.13 1,796.22 2,125.58 2,243.31 2,275.35

Makiya 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 1,058.05 998.84 1,244.47 1,088.69 1,186.66

TSE:9890 vs KR: EBIT Comparison

For the Grocery Stores subindustry, Makiya 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.

Makiya Co EV-to-EBIT vs Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Makiya Co's EV-to-EBIT distribution charts can be found below:

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


TSE:9890
83GF Score
Makiya Co Ltd TSE:9890
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Makiya 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2,275 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2,275 Mil mean?
Makiya Co (TSE:9890) has a EBIT of 円2,275 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Makiya Co.
Is Makiya Co's EBIT too high?
Makiya Co's current EBIT is 円2,275 Mil. Overall, Makiya Co has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Makiya Co's EBIT compare to KR?
Makiya Co's EBIT of 円2,275 Mil can be compared against companies in the Retail - Defensive 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 Retail - Defensive company?
A good EBIT depends on the Retail - Defensive 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 Makiya Co. Makiya Co's current EBIT is 円2,275 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Makiya Co stock overvalued right now?
Based on GuruFocus' analysis, Makiya Co (TSE:9890) is currently considered Modestly Overvalued. The stock's GF Value™ is 円1,251.36, compared to a current price of 円1,397.00 — trading 11.6% above its estimated fair value. The current EBIT is 円2,275 Mil. Makiya Co's overall GF Score™ is 83/100 with 5 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 Makiya Co (TSE:9890), the current EBIT is 円2,275 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 Makiya Co (TSE:9890) Overvalued in 2026?

Based on GuruFocus' analysis, Makiya Co stock appears to be overvalued. The current stock price of 円1,397.00 is trading 11.6% above its estimated GF Value™ of 円1,251.36. GuruFocus considers Makiya Co to be Modestly Overvalued.

Key valuation signals for TSE:9890:

  • EBIT: 円2,275 Mil
  • GF Value™: 円1,251.36 vs. price of 円1,397.00 (11.6% above fair value)
  • GF Score™: 83/100 with 5 warning signs

No single metric tells the full story. See the TSE:9890 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Makiya Co Business Description

Address Obuchi 2373, Shizuoka, Fuji City, JPN
Makiya Co Ltd is engaged in operating chain stores. The stores are operated under the name Espot, Potato, and Mamy in Japan.
83GF Score

Get the complete analysis for TSE:9890

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

円1,397.00
Price
円1,251.36
GF Value