Asahi Kasei (STU:ASAA) Operating Income: €1,308 Mil (TTM As of Mar. 2026)

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STU:ASAA Asahi Kasei Corp STU:ASAA
79 GF Score
Price €9.98
GF Value €6.34
Valuation Significantly Overvalued
! 8 Warning Signs
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What is Asahi Kasei Operating Income?

Asahi Kasei STU:ASAA +1.57% 79 Operating Income is €1,308 Mil as of Mar. 2026. GuruFocus rates STU:ASAA with a GF Score™ of 79/100 and a GF Value™ of €6.34 (Significantly Overvalued). The stock has 8 warning signs investors should review.

Asahi Kasei's Operating Income for the three months ended in Mar. 2026 was €312 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €1,308 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Asahi Kasei's Operating Income for the three months ended in Mar. 2026 was €312 Mil. Asahi Kasei's Revenue for the three months ended in Mar. 2026 was €4,433 Mil. Therefore, Asahi Kasei's Operating Margin % for the quarter that ended in Mar. 2026 was 7.04%.

Warning Sign:

Asahi Kasei Corp operating margin has been in a 5-year decline. The average rate of decline per year is -2.3%.

Asahi Kasei's 5-Year average Growth Rate for Operating Margin % was -2.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Asahi Kasei's annualized ROC % for the quarter that ended in Mar. 2026 was 6.15%. Asahi Kasei's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 9.80%.


Asahi Kasei  (STU:ASAA) Operating Income Explanation

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

Asahi Kasei'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 )
=1248.332 * ( 1 - 5.27% )/( (19150.956 + 19330.917)/ 2 )
=1182.5449036/19240.9365
=6.15 %

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))
=22811.47 - 1245.597 - ( 2414.917 - max(0, 4997.265 - 10534.547+2414.917))
=19150.956

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))
=22556.465 - 1170.347 - ( 2055.201 - max(0, 4323.525 - 10168.303+2055.201))
=19330.917

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

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

Asahi Kasei'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 )
=953.532/( ( (5069.939 + max(4596.756, 0)) + (5238.977 + max(4548.696, 0)) )/ 2 )
=953.532/( ( 9666.695 + 9787.673 )/ 2 )
=953.532/9727.184
=9.80 %

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)
=(2712.216 + 4372.574 + 1034.84) - (1245.597 + 0 + 2277.277)
=4596.756

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2800.829 + 4326.698 + 985.575) - (1170.347 + 0 + 2394.059)
=4548.696

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 %:

Asahi Kasei'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 )
=312.083/4433.088
=7.04 %

* 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.


Asahi Kasei Operating Income Related Terms


Asahi Kasei Operating Income Historical Data

* Premium members only.

The historical data trend for Asahi Kasei'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.

Asahi Kasei Operating Income Chart

Asahi Kasei 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 1,551.76 892.44 864.29 1,315.10 1,260.30

Asahi Kasei 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 294.97 321.96 310.01 364.22 312.08
STU:ASAA
79GF Score
Asahi Kasei Corp STU:ASAA
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Asahi Kasei 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 €1,308 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 €1,308 Mil mean?
Asahi Kasei (STU:ASAA) has a Operating Income of €1,308 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Asahi Kasei and its competitors.
Is Asahi Kasei's Operating Income too high?
Asahi Kasei's current Operating Income is €1,308 Mil. Overall, Asahi Kasei has a GF Score™ of 79/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Asahi Kasei's Operating Income compare to HON and MMM?
Asahi Kasei's Operating Income of €1,308 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 Asahi Kasei and its competitors. Asahi Kasei's current Operating Income is €1,308 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asahi Kasei stock overvalued right now?
Based on GuruFocus' analysis, Asahi Kasei (STU:ASAA) is currently considered Significantly Overvalued. The stock's GF Value™ is €6.34, compared to a current price of €9.98 — trading 57.4% above its estimated fair value. The current Operating Income is €1,308 Mil. Asahi Kasei's overall GF Score™ is 79/100 with 8 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 Asahi Kasei (STU:ASAA), the current Operating Income is €1,308 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 Asahi Kasei (STU:ASAA) Overvalued in 2026?

Based on GuruFocus' analysis, Asahi Kasei stock appears to be overvalued. The current stock price of €9.98 is trading 57.4% above its estimated GF Value™ of €6.34. GuruFocus considers Asahi Kasei to be Significantly Overvalued.

Key valuation signals for STU:ASAA:

  • Operating Income: €1,308 Mil
  • GF Value™: €6.34 vs. price of €9.98 (57.4% above fair value)
  • GF Score™: 79/100 with 8 warning signs

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


Asahi Kasei Business Description

Address 1-1-2 Yurakucho, Chiyoda-ku, Tokyo, JPN, 100-0006
Asahi Kasei Corp is a Japanese industrial conglomerate mainly engaged in materials, housing, and healthcare businesses. The Health Care segment covers pharmaceuticals, healthcare, and critical care. The Housing segment includes housing and building materials businesses. The Material segment consists of environmental solutions, mobility & industry, AL business, and life innovation, such as digital solutions and comfort life. The Others segment includes plant and environmental engineering, research and information services, as well as staffing and placement businesses. It generates the majority of its revenue from the Material segment.
79GF Score

Get the complete analysis for STU:ASAA

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

€9.98
Price
€6.34
GF Value