Nitto Fuji Flour Milling Co (TSE:2003) Operating Income: 円3,822 Mil (TTM As of Mar. 2026)

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TSE:2003 Nitto Fuji Flour Milling Co Ltd TSE:2003
72 GF Score
Price 円1,821.00
GF Value 円1,718.00
Valuation Fairly Valued
! 8 Warning Signs
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What is Nitto Fuji Flour Milling Co Operating Income?

Nitto Fuji Flour Milling Co TSE:2003 -0.05% 72 Operating Income is 円3,822 Mil as of Mar. 2026. GuruFocus rates TSE:2003 with a GF Score™ of 72/100 and a GF Value™ of 円1,718.00 (Fairly Valued). The stock has 8 warning signs investors should review.

Nitto Fuji Flour Milling Co's Operating Income for the six months ended in Mar. 2026 was 円2,209 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円3,822 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Nitto Fuji Flour Milling Co's Operating Income for the six months ended in Mar. 2026 was 円2,209 Mil. Nitto Fuji Flour Milling Co's Revenue for the six months ended in Mar. 2026 was 円37,363 Mil. Therefore, Nitto Fuji Flour Milling Co's Operating Margin % for the quarter that ended in Mar. 2026 was 5.91%.

Warning Sign:

Nitto Fuji Flour Milling Co Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -6.5%.

Nitto Fuji Flour Milling Co's 5-Year average Growth Rate for Operating Margin % was -6.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Nitto Fuji Flour Milling Co's annualized ROC % for the quarter that ended in Mar. 2026 was 5.66%. Nitto Fuji Flour Milling Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 20.46%.


Nitto Fuji Flour Milling Co  (TSE:2003) Operating Income Explanation

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

Nitto Fuji Flour Milling 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: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=4418 * ( 1 - 28.22% )/( (54971 + 57043)/ 2 )
=3171.2404/56007
=5.66 %

where

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

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

Nitto Fuji Flour Milling 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: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=6100/( ( (17640 + max(12505, 0)) + (17205 + max(12279, 0)) )/ 2 )
=6100/( ( 30145 + 29484 )/ 2 )
=6100/29814.5
=20.46 %

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)
=(9562 + 11135 + 655) - (5612 + 0 + 3235)
=12505

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(9765 + 11023 + 497) - (5523 + 0 + 3483)
=12279

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

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

Nitto Fuji Flour Milling 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 )
=2209/37363
=5.91 %

* 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.


Nitto Fuji Flour Milling Co Operating Income Related Terms


Nitto Fuji Flour Milling Co Operating Income Historical Data

* Premium members only.

The historical data trend for Nitto Fuji Flour Milling 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.

Nitto Fuji Flour Milling Co Operating Income Chart

Nitto Fuji Flour Milling 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 4,410.00 5,306.00 5,241.00 5,102.00 3,822.00

Nitto Fuji Flour Milling Co Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 2,889.00 2,247.00 2,855.00 1,613.00 2,209.00
TSE:2003
72GF Score
Nitto Fuji Flour Milling Co Ltd TSE:2003
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Nitto Fuji Flour Milling 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 semi-annually data reported by the company within the most recent 12 months, which was 円3,822 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3,822 Mil mean?
Nitto Fuji Flour Milling Co (TSE:2003) has a Operating Income of 円3,822 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Nitto Fuji Flour Milling Co and its competitors.
Is Nitto Fuji Flour Milling Co's Operating Income too high?
Nitto Fuji Flour Milling Co's current Operating Income is 円3,822 Mil. Overall, Nitto Fuji Flour Milling Co has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Nitto Fuji Flour Milling Co's Operating Income compare to ADM and BG?
Nitto Fuji Flour Milling Co's Operating Income of 円3,822 Mil can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Operating Income depends on the Consumer Packaged Goods 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 Nitto Fuji Flour Milling Co and its competitors. Nitto Fuji Flour Milling Co's current Operating Income is 円3,822 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nitto Fuji Flour Milling Co stock overvalued right now?
Based on GuruFocus' analysis, Nitto Fuji Flour Milling Co (TSE:2003) is currently considered Fairly Valued. The stock's GF Value™ is 円1,718.00, compared to a current price of 円1,821.00 — trading 6% above its estimated fair value. The current Operating Income is 円3,822 Mil. Nitto Fuji Flour Milling Co's overall GF Score™ is 72/100 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 Nitto Fuji Flour Milling Co (TSE:2003), the current Operating Income is 円3,822 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 Nitto Fuji Flour Milling Co (TSE:2003) Overvalued in 2026?

Based on GuruFocus' analysis, Nitto Fuji Flour Milling Co stock appears to be overvalued. The current stock price of 円1,821.00 is trading 6% above its estimated GF Value™ of 円1,718.00. GuruFocus considers Nitto Fuji Flour Milling Co to be Fairly Valued.

Key valuation signals for TSE:2003:

  • Operating Income: 円3,822 Mil
  • GF Value™: 円1,718.00 vs. price of 円1,821.00 (6% above fair value)
  • GF Score™: 72/100 with 8 warning signs

No single metric tells the full story. See the TSE:2003 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Nitto Fuji Flour Milling Co Business Description

Address 1-3-17 Shinkawa, Chuo-ku, Tokyo, JPN, 104-0033
Nitto Fuji Flour Milling Co Ltd is engaged in the manufacture and sale of wheat flour and bran. The company is also involved in warehousing business and designing and installation of machines and equipment.
72GF Score

Get the complete analysis for TSE:2003

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

円1,821.00
Price
円1,718.00
GF Value