NAFCO Co (FRA:64E) Operating Income: €10.0 Mil (TTM As of Mar. 2026)

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FRA:64E NAFCO Co Ltd FRA:64E
64 GF Score
Price €12.00
GF Value €10.90
! 5 Warning Signs
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What is NAFCO Co Operating Income?

NAFCO Co FRA:64E +1.69% 64 Operating Income is €10.0 Mil as of Mar. 2026. GuruFocus rates FRA:64E with a GF Score™ of 64/100 and a GF Value™ of €10.90. The stock has 5 warning signs investors should review.

NAFCO Co's Operating Income for the three months ended in Mar. 2026 was €-7.6 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €10.0 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. NAFCO Co's Operating Income for the three months ended in Mar. 2026 was €-7.6 Mil. NAFCO Co's Revenue for the three months ended in Mar. 2026 was €207.5 Mil. Therefore, NAFCO Co's Operating Margin % for the quarter that ended in Mar. 2026 was -3.66%.

Warning Sign:

NAFCO Co Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -39.2%.

NAFCO Co's 5-Year average Growth Rate for Operating Margin % was -39.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. NAFCO Co's annualized ROC % for the quarter that ended in Mar. 2026 was -1.96%. NAFCO Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -4.61%.


NAFCO Co  (FRA:64E) Operating Income Explanation

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

NAFCO 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: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=-30.352 * ( 1 - 33.7% )/( (1030.097 + 1023.292)/ 2 )
=-20.123376/1026.6945
=-1.96 %

where

Invested Capital(Q: Dec. 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))
=1233.832 - 100.339 - ( 103.396 - max(0, 306.693 - 502.995+103.396))
=1030.097

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))
=1177.21 - 91.105 - ( 62.813 - max(0, 263.42 - 459.416+62.813))
=1023.292

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

NAFCO 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: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-40.512/( ( (653.097 + max(191.832, 0)) + (673.416 + max(237.496, 0)) )/ 2 )
=-40.512/( ( 844.929 + 910.912 )/ 2 )
=-40.512/877.9205
=-4.61 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(26.664 + 363.778 + 9.157) - (100.339 + 0 + 107.428)
=191.832

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(25.778 + 362.718 + 7.649) - (91.105 + 0 + 67.544)
=237.496

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

NAFCO Co's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=-7.588/207.454
=-3.66 %

* 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.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


NAFCO Co Operating Income Related Terms


NAFCO Co Operating Income Historical Data

* Premium members only.

The historical data trend for NAFCO Co's Operating Income 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.

NAFCO Co Operating Income Chart

NAFCO Co Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 91.91 64.42 33.63 7.86 8.92

NAFCO Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income 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 -6.19 10.95 0.05 6.55 -7.59
FRA:64E
64GF Score
NAFCO Co Ltd FRA:64E
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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NAFCO Co Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €10.0 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 Operating Income →
What does a Operating Income of €10.0 Mil mean?
NAFCO Co (FRA:64E) has a Operating Income of €10.0 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on NAFCO Co and its competitors.
Is NAFCO Co's Operating Income too high?
NAFCO Co's current Operating Income is €10.0 Mil. Overall, NAFCO Co has a GF Score™ of 64/100, reflecting its overall financial health beyond just this single metric.
How does NAFCO Co's Operating Income compare to HD and LOW?
NAFCO Co's Operating Income of €10.0 Mil can be compared against companies in the Retail - Cyclical industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Retail - Cyclical company?
A good Operating Income depends on the Retail - Cyclical industry context. However, Operating Income 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 Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on NAFCO Co and its competitors. NAFCO Co's current Operating Income is €10.0 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NAFCO Co stock overvalued right now?
NAFCO Co (FRA:64E) has a current Operating Income of €10.0 Mil. The stock's GF Value™ is €10.90, compared to a current price of €12.00 — trading 10.1% above its estimated fair value. The current Operating Income is €10.0 Mil. NAFCO Co's overall GF Score™ is 64/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For NAFCO Co (FRA:64E), the current Operating Income is €10.0 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 NAFCO Co (FRA:64E) Overvalued in 2026?

Based on GuruFocus' analysis, NAFCO Co stock appears to be overvalued. The current stock price of €12.00 is trading 10.1% above its estimated GF Value™ of €10.90.

Key valuation signals for FRA:64E:

  • Operating Income: €10.0 Mil
  • GF Value™: €10.90 vs. price of €12.00 (10.1% above fair value)
  • GF Score™: 64/100 with 5 warning signs

No single metric tells the full story. See the FRA:64E stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


NAFCO Co Business Description

Other Exchanges 2790:Japan
Address 2-6-10, Uomachi, 7th Floor, Kokura Kita-ku, Kitakyushu, JPN, 802-0006
NAFCO Co Ltd Is a Japan-based company engages in the operation of home and furniture retail stores. The company offers household commodities, cooking appliances, footwear, food, storage equipment, furniture, floor coverings, curtains, interior accessories, lighting, beddings and others. All the business activity of the group is functioned through Japan and it products are sold with in Japanese and to the overseas region.
64GF Score

Get the complete analysis for FRA:64E

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

€12.00
Price
€10.90
GF Value