Mori-Gumi Co (TSE:1853) Operating Income: 円1,348 Mil (TTM As of Mar. 2026)

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TSE:1853 Mori-Gumi Co Ltd TSE:1853
68 GF Score
Price 円333.00
GF Value 円322.38
Valuation Fairly Valued
! 4 Warning Signs
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What is Mori-Gumi Co Operating Income?

Mori-Gumi Co TSE:1853 68 Operating Income is 円1,348 Mil as of Mar. 2026. GuruFocus rates TSE:1853 with a GF Score™ of 68/100 and a GF Value™ of 円322.38 (Fairly Valued). The stock has 4 warning signs investors should review.

Mori-Gumi Co's Operating Income for the three months ended in Mar. 2026 was 円734 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円1,348 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Mori-Gumi Co's Operating Income for the three months ended in Mar. 2026 was 円734 Mil. Mori-Gumi Co's Revenue for the three months ended in Mar. 2026 was 円6,848 Mil. Therefore, Mori-Gumi Co's Operating Margin % for the quarter that ended in Mar. 2026 was 10.72%.

Warning Sign:

Mori-Gumi Co Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -8.7%.

Mori-Gumi Co's 5-Year average Growth Rate for Operating Margin % was -8.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mori-Gumi Co's annualized ROC % for the quarter that ended in Mar. 2026 was 16.51%. Mori-Gumi Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 40.80%.


Mori-Gumi Co  (TSE:1853) Operating Income Explanation

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

Mori-Gumi 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 )
=2936 * ( 1 - 30.19% )/( (12465 + 12357)/ 2 )
=2049.6216/12411
=16.51 %

where

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

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

Mori-Gumi 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 )
=2760/( ( (1039 + max(5380, 0)) + (1025 + max(6087, 0)) )/ 2 )
=2760/( ( 6419 + 7112 )/ 2 )
=2760/6765.5
=40.80 %

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)
=(14724 + 13 + 638) - (5751 + 0 + 4244)
=5380

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(15408 + 9 + 65) - (6398 + 0 + 2997)
=6087

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 %:

Mori-Gumi 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 )
=734/6848
=10.72 %

* 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.


Mori-Gumi Co Operating Income Related Terms


Mori-Gumi Co Operating Income Historical Data

* Premium members only.

The historical data trend for Mori-Gumi 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.

Mori-Gumi Co Operating Income Chart

Mori-Gumi 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 1,913.00 842.00 1,082.00 1,091.00 1,348.00

Mori-Gumi Co Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 0.00 294.00 -35.00 355.00 734.00
TSE:1853
68GF Score
Mori-Gumi Co Ltd TSE:1853
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Mori-Gumi 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 円1,348 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 円1,348 Mil mean?
Mori-Gumi Co (TSE:1853) has a Operating Income of 円1,348 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Mori-Gumi Co and its competitors.
Is Mori-Gumi Co's Operating Income too high?
Mori-Gumi Co's current Operating Income is 円1,348 Mil. Overall, Mori-Gumi Co has a GF Score™ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mori-Gumi Co's Operating Income compare to PWR and FIX?
Mori-Gumi Co's Operating Income of 円1,348 Mil can be compared against companies in the Construction 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 Construction company?
A good Operating Income depends on the Construction 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 Mori-Gumi Co and its competitors. Mori-Gumi Co's current Operating Income is 円1,348 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mori-Gumi Co stock overvalued right now?
Based on GuruFocus' analysis, Mori-Gumi Co (TSE:1853) is currently considered Fairly Valued. The stock's GF Value™ is 円322.38, compared to a current price of 円333.00 — trading 3.3% above its estimated fair value. The current Operating Income is 円1,348 Mil. Mori-Gumi Co's overall GF Score™ is 68/100 with 4 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 Mori-Gumi Co (TSE:1853), the current Operating Income is 円1,348 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 Mori-Gumi Co (TSE:1853) Overvalued in 2026?

Based on GuruFocus' analysis, Mori-Gumi Co stock appears to be overvalued. The current stock price of 円333.00 is trading 3.3% above its estimated GF Value™ of 円322.38. GuruFocus considers Mori-Gumi Co to be Fairly Valued.

Key valuation signals for TSE:1853:

  • Operating Income: 円1,348 Mil
  • GF Value™: 円322.38 vs. price of 円333.00 (3.3% above fair value)
  • GF Score™: 68/100 with 4 warning signs

No single metric tells the full story. See the TSE:1853 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Mori-Gumi Co Business Description

Address 4-5-17 Doshomachi, Chuo Ward, Osaka, JPN, 541-0045
Mori-Gumi Co Ltd operates in three divisions - Construction business, which is engaged in civil engineering, architecture, and other general construction work-related businesses; Crushed stone division, which is engaged in the manufacture and sale of crushed stone, crushed sand, etc., and brokerage of transactions.; and Real estate division is engaged in the development, purchase and sale, exchange, and rental of real estate, as well as the agency and brokerage of these businesses.
68GF Score

Get the complete analysis for TSE:1853

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

円333.00
Price
円322.38
GF Value