SNPHF (Santen Pharmaceutical Co) Operating Income: $312 Mil (TTM As of Mar. 2026)

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SNPHF Santen Pharmaceutical Co Ltd SNPHF
83 GF Score
Price $13.05
GF Value $10.23
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Santen Pharmaceutical Co Operating Income?

Santen Pharmaceutical Co SNPHF +4.40% 83 Operating Income is $312 Mil as of Mar. 2026. GuruFocus rates SNPHF with a GF Score™ of 83/100 and a GF Value™ of $10.23 (Modestly Overvalued). The stock has 6 warning signs investors should review.

Santen Pharmaceutical Co's Operating Income for the three months ended in Mar. 2026 was $123 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. Santen Pharmaceutical Co's Operating Income for the three months ended in Mar. 2026 was $123 Mil. Santen Pharmaceutical Co's Revenue for the three months ended in Mar. 2026 was $510 Mil. Therefore, Santen Pharmaceutical Co's Operating Margin % for the quarter that ended in Mar. 2026 was 24.21%.

Santen Pharmaceutical Co's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Santen Pharmaceutical Co's annualized ROC % for the quarter that ended in Mar. 2026 was 20.79%. Santen Pharmaceutical Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 57.45%.


Santen Pharmaceutical Co  (OTCPK:SNPHF) Operating Income Explanation

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

Santen Pharmaceutical 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 )
=493.564 * ( 1 - 19.64% )/( (1926.255 + 1889.292)/ 2 )
=396.6280304/1907.7735
=20.79 %

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))
=2572.947 - 224.545 - ( 422.147 - max(0, 485.296 - 1302.678+422.147))
=1926.255

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))
=2665.905 - 251.351 - ( 525.262 - max(0, 553.734 - 1441.606+525.262))
=1889.292

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

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

Santen Pharmaceutical 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 )
=501.076/( ( (494.205 + max(395.235, 0)) + (492.272 + max(362.61, 0)) )/ 2 )
=501.076/( ( 889.44 + 854.882 )/ 2 )
=501.076/872.161
=57.45 %

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)
=(440.112 + 385.28 + 55.139) - (224.545 + 0 + 260.751)
=395.235

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(452.185 + 407.001 + 57.158) - (251.351 + 0 + 302.383)
=362.61

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 %:

Santen Pharmaceutical 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 )
=123.391/509.577
=24.21 %

* 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.


Santen Pharmaceutical Co Operating Income Related Terms


Santen Pharmaceutical Co Operating Income Historical Data

* Premium members only.

The historical data trend for Santen Pharmaceutical 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.

Santen Pharmaceutical Co Operating Income Chart

Santen Pharmaceutical 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 302.64 -23.12 257.24 314.51 301.22

Santen Pharmaceutical 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 78.39 52.41 69.94 66.08 123.39
SNPHF
83GF Score
Santen Pharmaceutical Co Ltd SNPHF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Santen Pharmaceutical 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?
Santen Pharmaceutical Co (SNPHF) 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 Santen Pharmaceutical Co and its competitors.
Is Santen Pharmaceutical Co's Operating Income too high?
Santen Pharmaceutical Co's current Operating Income is $312 Mil. Overall, Santen Pharmaceutical 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 Santen Pharmaceutical Co's Operating Income compare to LLY and JNJ?
Santen Pharmaceutical Co's Operating Income of $312 Mil can be compared against companies in the Drug Manufacturers 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 Drug Manufacturers company?
A good Operating Income depends on the Drug Manufacturers 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 Santen Pharmaceutical Co and its competitors. Santen Pharmaceutical 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 Santen Pharmaceutical Co stock overvalued right now?
Based on GuruFocus' analysis, Santen Pharmaceutical Co (SNPHF) is currently considered Modestly Overvalued. The stock's GF Value™ is $10.23, compared to a current price of $13.05 — trading 27.6% above its estimated fair value. The current Operating Income is $312 Mil. Santen Pharmaceutical Co's overall GF Score™ is 83/100 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 Santen Pharmaceutical Co (SNPHF), 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 Santen Pharmaceutical Co (SNPHF) Overvalued in 2026?

Based on GuruFocus' analysis, Santen Pharmaceutical Co stock appears to be overvalued. The current stock price of $13.05 is trading 27.6% above its estimated GF Value™ of $10.23. GuruFocus considers Santen Pharmaceutical Co to be Modestly Overvalued.

Key valuation signals for SNPHF:

  • Operating Income: $312 Mil
  • GF Value™: $10.23 vs. price of $13.05 (27.6% above fair value)
  • GF Score™: 83/100 with 6 warning signs

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


Santen Pharmaceutical Co Business Description

Other Exchanges SNPHY:USA4536:Japan
Address 4-20 Ofukacho, Grand Front Osaka Tower A, Kita-ku, Osaka Prefecture, Osaka, JPN, 530-8552
Santen Pharmaceutical Co Ltd is a drug manufacturing company that focuses on ophthalmic products. The company provides a wide range of prescription and over-the-counter eye care products, including treatments for glaucoma, dry eye, and allergies. It also develops surgical and diagnostic devices related to eye care.
83GF Score

Get the complete analysis for SNPHF

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

$13.05
Price
$10.23
GF Value