SHMWF (ShinMaywa Industries) Operating Income: $106 Mil (TTM As of Mar. 2026)


SHMWF ShinMaywa Industries Ltd SHMWF
77 GF Score
Price $13.30
GF Value $9.06
Valuation Significantly Overvalued
! 1 Warning Sign
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What is ShinMaywa Industries Operating Income?

ShinMaywa Industries SHMWF 77 Operating Income is $106 Mil as of Mar. 2026. GuruFocus rates SHMWF with a GF Score™ of 77/100 and a GF Value™ of $9.06 (Significantly Overvalued). The stock has 1 warning sign investors should review.

ShinMaywa Industries's Operating Income for the three months ended in Mar. 2026 was $47 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $106 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. ShinMaywa Industries's Operating Income for the three months ended in Mar. 2026 was $47 Mil. ShinMaywa Industries's Revenue for the three months ended in Mar. 2026 was $563 Mil. Therefore, ShinMaywa Industries's Operating Margin % for the quarter that ended in Mar. 2026 was 8.37%.

Good Sign:

ShinMaywa Industries Ltd operating margin is expanding. Margin expansion is usually a good sign.

ShinMaywa Industries's 5-Year average Growth Rate for Operating Margin % was 2.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. ShinMaywa Industries's annualized ROC % for the quarter that ended in Mar. 2026 was 11.24%. ShinMaywa Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 21.00%.

ShinMaywa Industries  (OTCPK:SHMWF) Operating Income Explanation

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

ShinMaywa Industries'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 )
=188.352 * ( 1 - 18.25% )/( (1415.06 + 1323.812)/ 2 )
=153.97776/1369.436
=11.24 %

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))
=1832.165 - 273.033 - ( 144.072 - max(0, 691.96 - 1235.532+144.072))
=1415.06

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))
=1865.711 - 314.672 - ( 227.227 - max(0, 752.439 - 1257.491+227.227))
=1323.812

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

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

ShinMaywa Industries'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 )
=163.044/( ( (343.809 + max(510.458, 0)) + (332.878 + max(365.799, 0)) )/ 2 )
=163.044/( ( 854.267 + 698.677 )/ 2 )
=163.044/776.472
=21.00 %

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)
=(495.449 + 465.651 + 130.36) - (273.033 + 0 + 307.969)
=510.458

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(501.466 + 402.59 + 126.208) - (314.672 + 0 + 349.793)
=365.799

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 %:

ShinMaywa Industries'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 )
=47.088/562.664
=8.37 %

* 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.

ShinMaywa Industries Operating Income Related Terms

ShinMaywa Industries Operating Income Historical Data

* Premium members only.

The historical data trend for ShinMaywa Industries'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.

ShinMaywa Industries Operating Income Chart

ShinMaywa Industries 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 89.14 69.53 78.53 93.72 102.90

ShinMaywa Industries 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 37.91 9.88 21.30 27.45 47.09
SHMWF
77GF Score
ShinMaywa Industries Ltd SHMWF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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ShinMaywa Industries 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 $106 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 $106 Mil mean?
ShinMaywa Industries (SHMWF) has a Operating Income of $106 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on ShinMaywa Industries and its competitors.
Is ShinMaywa Industries' Operating Income too high?
ShinMaywa Industries' current Operating Income is $106 Mil. Overall, ShinMaywa Industries has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ShinMaywa Industries' Operating Income compare to HON and MMM?
ShinMaywa Industries' Operating Income of $106 Mil can be compared against companies in the Conglomerates 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 Conglomerates company?
A good Operating Income depends on the Conglomerates 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 ShinMaywa Industries and its competitors. ShinMaywa Industries's current Operating Income is $106 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ShinMaywa Industries stock overvalued right now?
Based on GuruFocus' analysis, ShinMaywa Industries (SHMWF) is currently considered Significantly Overvalued. The stock's GF Value™ is $9.06, compared to a current price of $13.30 — trading 46.8% above its estimated fair value. The current Operating Income is $106 Mil. ShinMaywa Industries' overall GF Score™ is 77/100 with 1 warning sign 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 ShinMaywa Industries (SHMWF), the current Operating Income is $106 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 ShinMaywa Industries (SHMWF) Overvalued in 2026?

Based on GuruFocus' analysis, ShinMaywa Industries stock appears to be overvalued. The current stock price of $13.30 is trading 46.8% above its estimated GF Value™ of $9.06. GuruFocus considers ShinMaywa Industries to be Significantly Overvalued.

Key valuation signals for SHMWF:

  • Operating Income: $106 Mil
  • GF Value™: $9.06 vs. price of $13.30 (46.8% above fair value)
  • GF Score™: 77/100 with 1 warning sign

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

ShinMaywa Industries Business Description

Other Exchanges 7224:Japan
Address 1-1 Shinmeiwa-cho, Takarazuka, Hyogo, JPN, 665-8550
ShinMaywa Industries Ltd manufactures a wide range of products, including parking systems, aircrafts, trucks, and other industrial systems. The company has four operating segments: aircraft, special-purpose truck, industrial machinery and environmental systems, and parking systems. The special-purpose truck segment generates roughly half of total sales and focuses on distributing dump trucks, lifters, compactors, and forestry machinery. The aircraft segment sells amphibian aircraft (capable of open-sea landing and takeoff) and aircraft parts to other manufacturers. Sales to customers located in Japan constitute about three fourths of total revenue.
77GF Score

Get the complete analysis for SHMWF

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

$13.30
Price
$9.06
GF Value