Takahashi Curtain Wall (TSE:1994) Operating Income: 円511 Mil (TTM As of Dec. 2025)

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TSE:1994 Takahashi Curtain Wall Corp TSE:1994
70 GF Score
Price 円558.00
GF Value 円520.47
Valuation Fairly Valued
! 4 Warning Signs
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What is Takahashi Curtain Wall Operating Income?

Takahashi Curtain Wall TSE:1994 +0.36% 70 Operating Income is 円511 Mil as of Dec. 2025. GuruFocus rates TSE:1994 with a GF Score™ of 70/100 and a GF Value™ of 円520.47 (Fairly Valued). The stock has 4 warning signs investors should review.

Takahashi Curtain Wall's Operating Income for the three months ended in Dec. 2025 was 円148 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was 円511 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Takahashi Curtain Wall's Operating Income for the three months ended in Dec. 2025 was 円148 Mil. Takahashi Curtain Wall's Revenue for the three months ended in Dec. 2025 was 円2,159 Mil. Therefore, Takahashi Curtain Wall's Operating Margin % for the quarter that ended in Dec. 2025 was 6.85%.

Warning Sign:

Takahashi Curtain Wall Corp operating margin has been in a 5-year decline. The average rate of decline per year is -29.2%.

Takahashi Curtain Wall's 5-Year average Growth Rate for Operating Margin % was -29.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Takahashi Curtain Wall's annualized ROC % for the quarter that ended in Dec. 2025 was 5.91%. Takahashi Curtain Wall's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 9.40%.


Takahashi Curtain Wall  (TSE:1994) Operating Income Explanation

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

Takahashi Curtain Wall's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=591.372 * ( 1 - 0% )/( (10102.401 + 9901.259)/ 2 )
=591.372/10001.83
=5.91 %

where

Invested Capital(Q: Sep. 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))
=12171.334 - 452.521 - ( 1616.412 - max(0, 1095.502 - 7054.677+1616.412))
=10102.401

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))
=12628.705 - 577.091 - ( 2150.355 - max(0, 1445.744 - 7257.223+2150.355))
=9901.259

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

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

Takahashi Curtain Wall's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=678.616/( ( (2769.003 + max(4590.763, 0)) + (2972.549 + max(4109.124, 0)) )/ 2 )
=678.616/( ( 7359.766 + 7081.673 )/ 2 )
=678.616/7220.7195
=9.40 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4073.78 + 473.868 + 890.617) - (452.521 + 0 + 394.981)
=4590.763

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3888.899 + 346.675 + 871.294) - (577.091 + 0 + 420.653)
=4109.124

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Takahashi Curtain Wall's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=147.843/2158.647
=6.85 %

* 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.


Takahashi Curtain Wall Operating Income Related Terms


Takahashi Curtain Wall Operating Income Historical Data

* Premium members only.

The historical data trend for Takahashi Curtain Wall'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.

Takahashi Curtain Wall Operating Income Chart

Takahashi Curtain Wall Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,985.47 170.20 355.79 593.80 112.69

Takahashi Curtain Wall Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 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 -57.38 -38.19 60.41 147.84 340.71
TSE:1994
70GF Score
Takahashi Curtain Wall Corp TSE:1994
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Takahashi Curtain Wall 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 Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was 円511 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511 Mil mean?
Takahashi Curtain Wall (TSE:1994) has a Operating Income of 円511 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Takahashi Curtain Wall and its competitors.
Is Takahashi Curtain Wall's Operating Income too high?
Takahashi Curtain Wall's current Operating Income is 円511 Mil. Overall, Takahashi Curtain Wall has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Takahashi Curtain Wall's Operating Income compare to TT and JCI?
Takahashi Curtain Wall's Operating Income of 円511 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 Takahashi Curtain Wall and its competitors. Takahashi Curtain Wall's current Operating Income is 円511 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Takahashi Curtain Wall stock overvalued right now?
Based on GuruFocus' analysis, Takahashi Curtain Wall (TSE:1994) is currently considered Fairly Valued. The stock's GF Value™ is 円520.47, compared to a current price of 円558.00 — trading 7.2% above its estimated fair value. The current Operating Income is 円511 Mil. Takahashi Curtain Wall's overall GF Score™ is 70/100 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 Takahashi Curtain Wall (TSE:1994), the current Operating Income is 円511 Mil as of Dec. 2025. 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 Takahashi Curtain Wall (TSE:1994) Overvalued in 2026?

Based on GuruFocus' analysis, Takahashi Curtain Wall stock appears to be overvalued. The current stock price of 円558.00 is trading 7.2% above its estimated GF Value™ of 円520.47. GuruFocus considers Takahashi Curtain Wall to be Fairly Valued.

Key valuation signals for TSE:1994:

  • Operating Income: 円511 Mil
  • GF Value™: 円520.47 vs. price of 円558.00 (7.2% above fair value)
  • GF Score™: 70/100 with 4 warning signs

No single metric tells the full story. See the TSE:1994 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Takahashi Curtain Wall Business Description

Address No. 5 No. 4, Nihonbashi Honcho Chuo- ku, Chuo-ku, Tokyo, JPN, 103-0023
Takahashi Curtain Wall Corp manufactures and constructs curtain walls for building structures. It offers precast concrete (PC) curtain walls, ultra-lightweight curtain walls, colored concrete walls, and PC external insulation curtain wall.
70GF Score

Get the complete analysis for TSE:1994

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

円558.00
Price
円520.47
GF Value