NHKGF (NHK Spring Co) Operating Income: $312 Mil (TTM As of Mar. 2026)


NHKGF NHK Spring Co Ltd NHKGF
72 GF Score
Price $24.51
GF Value $11.31
Valuation Significantly Overvalued
! 6 Warning Signs
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What is NHK Spring Co Operating Income?

NHK Spring Co NHKGF 72 Operating Income is $312 Mil as of Mar. 2026. GuruFocus rates NHKGF with a GF Score™ of 72/100 and a GF Value™ of $11.31 (Significantly Overvalued). The stock has 6 warning signs investors should review.

NHK Spring Co's Operating Income for the three months ended in Mar. 2026 was $91 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $312 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. NHK Spring Co's Operating Income for the three months ended in Mar. 2026 was $91 Mil. NHK Spring Co's Revenue for the three months ended in Mar. 2026 was $1,390 Mil. Therefore, NHK Spring Co's Operating Margin % for the quarter that ended in Mar. 2026 was 6.53%.

Good Sign:

NHK Spring Co Ltd operating margin is expanding. Margin expansion is usually a good sign.

NHK Spring Co's 5-Year average Growth Rate for Operating Margin % was 23.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. NHK Spring Co's annualized ROC % for the quarter that ended in Mar. 2026 was 2.16%. NHK Spring Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 16.54%.


NHK Spring Co  (OTCPK:NHKGF) Operating Income Explanation

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

NHK Spring 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 )
=362.812 * ( 1 - 80.06% )/( (3412.987 + 3293.225)/ 2 )
=72.3447128/3353.106
=2.16 %

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))
=4688.721 - 617.253 - ( 658.481 - max(0, 1322.676 - 2556.079+658.481))
=3412.987

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))
=4653.626 - 677.27 - ( 683.131 - max(0, 1259.432 - 2580.911+683.131))
=3293.225

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

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

NHK Spring 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 )
=351.14/( ( (1260.135 + max(867.678, 0)) + (1242.177 + max(875.494, 0)) )/ 2 )
=351.14/( ( 2127.813 + 2117.671 )/ 2 )
=351.14/2122.742
=16.54 %

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)
=(960.581 + 632.159 + 192.765) - (617.253 + 0 + 300.574)
=867.678

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(998.918 + 605.567 + 293.295) - (677.27 + 0 + 345.016)
=875.494

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 %:

NHK Spring 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 )
=90.703/1389.509
=6.53 %

* 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.


NHK Spring Co Operating Income Related Terms


NHK Spring Co Operating Income Historical Data

* Premium members only.

The historical data trend for NHK Spring 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.

NHK Spring Co Operating Income Chart

NHK Spring 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 180.14 215.75 231.29 349.94 288.53

NHK Spring 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 113.53 76.46 272.67 -128.10 90.70
NHKGF
72GF Score
NHK Spring Co Ltd NHKGF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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NHK Spring 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 $312 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 $312 Mil mean?
NHK Spring Co (NHKGF) has a Operating Income of $312 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on NHK Spring Co and its competitors.
Is NHK Spring Co's Operating Income too high?
NHK Spring Co's current Operating Income is $312 Mil. Overall, NHK Spring Co has a GF Score™ of 72/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NHK Spring Co's Operating Income compare to ORLY and AZO?
NHK Spring Co's Operating Income of $312 Mil can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good Operating Income depends on the Vehicles & Parts 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 NHK Spring Co and its competitors. NHK Spring Co's current Operating Income is $312 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NHK Spring Co stock overvalued right now?
Based on GuruFocus' analysis, NHK Spring Co (NHKGF) is currently considered Significantly Overvalued. The stock's GF Value™ is $11.31, compared to a current price of $24.51 — trading 116.7% above its estimated fair value. The current Operating Income is $312 Mil. NHK Spring Co's overall GF Score™ is 72/100 with 6 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 NHK Spring Co (NHKGF), the current Operating Income is $312 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 NHK Spring Co (NHKGF) Overvalued in 2026?

Based on GuruFocus' analysis, NHK Spring Co stock appears to be overvalued. The current stock price of $24.51 is trading 116.7% above its estimated GF Value™ of $11.31. GuruFocus considers NHK Spring Co to be Significantly Overvalued.

Key valuation signals for NHKGF:

  • Operating Income: $312 Mil
  • GF Value™: $11.31 vs. price of $24.51 (116.7% above fair value)
  • GF Score™: 72/100 with 6 warning signs

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


NHK Spring Co Business Description

Other Exchanges 5991:Japan
Address 3-10 Fukuura, Kanazawa-ku, Yokohama, JPN, 236-0004
NHK Spring Co Ltd is a Japanese manufacturer of suspension springs for automobiles and precision springs used in hard disk drive components. The company operates through five segments. The Disc drive suspension (DDS) segment covers disc drive suspension products. The Industrial Equipment segment includes semiconductor process parts, ceramic products, spring mechanisms, piping support devices, parking devices, and other equipment. The Precision Parts segment handles HDD components, wire, and thin plate springs, motor cores, probe units, fasteners, and other precision products. The Sheet segment provides automobile seats, seat mechanisms, and interior parts, while the Suspension Spring segment offers coil springs, leaf springs, stabilizers, accumulators, torsion bars, and related components.
72GF Score

Get the complete analysis for NHKGF

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

$24.51
Price
$11.31
GF Value