Hakuten (TSE:2173) Operating Income: 円2,593 Mil (TTM As of Dec. 2025)

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TSE:2173 Hakuten Corp TSE:2173
68 GF Score
Price 円711.00
GF Value 円977.14
Valuation Modestly Undervalued
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What is Hakuten Operating Income?

Hakuten TSE:2173 -1.93% 68 Operating Income is 円2,593 Mil as of Dec. 2025. GuruFocus rates TSE:2173 with a GF Score™ of 68/100 and a GF Value™ of 円977.14 (Modestly Undervalued).

Hakuten's Operating Income for the six months ended in Dec. 2025 was 円1,424 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was 円2,593 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Hakuten's Operating Income for the six months ended in Dec. 2025 was 円1,424 Mil. Hakuten's Revenue for the six months ended in Dec. 2025 was 円13,022 Mil. Therefore, Hakuten's Operating Margin % for the quarter that ended in Dec. 2025 was 10.94%.

Hakuten'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. Hakuten's annualized ROC % for the quarter that ended in Dec. 2025 was 60.61%. Hakuten's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 136.40%.


Hakuten  (TSE:2173) Operating Income Explanation

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

Hakuten'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: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=2848.812 * ( 1 - 20.61% )/( (3951.211 + 3511.785)/ 2 )
=2261.6718468/3731.498
=60.61 %

where

Invested Capital(Q: Jun. 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))
=8163.8 - 1508.178 - ( 2704.411 - max(0, 3066.502 - 6934.481+2704.411))
=3951.211

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))
=10182.975 - 2255.736 - ( 4495.375 - max(0, 4331.544 - 8746.998+4495.375))
=3511.785

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

Hakuten'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: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2858.146/( ( (1011.145 + max(1841.034, 0)) + (971.009 + max(367.6, 0)) )/ 2 )
=2858.146/( ( 2852.179 + 1338.609 )/ 2 )
=2858.146/2095.394
=136.40 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3439.589 + 462.333 + 328.148) - (1508.178 + 0 + 880.858)
=1841.034

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3410.111 + 641.21 + 200.302) - (2255.736 + 0 + 1628.287)
=367.6

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

Hakuten'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 )
=1424.406/13021.836
=10.94 %

* 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.


Hakuten Operating Income Related Terms


Hakuten Operating Income Historical Data

* Premium members only.

The historical data trend for Hakuten'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.

Hakuten Operating Income Chart

Hakuten Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only -587.61 532.62 739.04 1,393.72 2,592.87

Hakuten Semi-Annual Data
Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Jun24 Dec24 Jun25 Dec25
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 79.45 1,008.20 385.52 1,168.46 1,424.41
TSE:2173
68GF Score
Hakuten Corp TSE:2173
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Hakuten 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 semi-annually data reported by the company within the most recent 12 months, which was 円2,593 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2,593 Mil mean?
Hakuten (TSE:2173) has a Operating Income of 円2,593 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Hakuten and its competitors.
Is Hakuten's Operating Income too high?
Hakuten's current Operating Income is 円2,593 Mil. Overall, Hakuten has a GF Score™ of 68/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hakuten's Operating Income compare to APP and OMC?
Hakuten's Operating Income of 円2,593 Mil can be compared against companies in the Media - Diversified 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 Media - Diversified company?
A good Operating Income depends on the Media - Diversified 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 Hakuten and its competitors. Hakuten's current Operating Income is 円2,593 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hakuten stock overvalued right now?
Based on GuruFocus' analysis, Hakuten (TSE:2173) is currently considered Modestly Undervalued. The stock's GF Value™ is 円977.14, compared to a current price of 円711.00 — trading 27.2% below its estimated fair value. The current Operating Income is 円2,593 Mil. Hakuten's overall GF Score™ is 68/100. 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 Hakuten (TSE:2173), the current Operating Income is 円2,593 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 Hakuten (TSE:2173) Overvalued in 2026?

Based on GuruFocus' analysis, Hakuten stock appears to be undervalued. The current stock price of 円711.00 is trading 27.2% below its estimated GF Value™ of 円977.14. GuruFocus considers Hakuten to be Modestly Undervalued.

Key valuation signals for TSE:2173:

  • Operating Income: 円2,593 Mil
  • GF Value™: 円977.14 vs. price of 円711.00 (27.2% below fair value)
  • GF Score™: 68/100

No single metric tells the full story. See the TSE:2173 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hakuten Business Description

Address 3-1-1 Kyobashi, 20th Floor, Tokyo Square Garden, Chuo-ku, Tokyo, JPN, 104-0031
Hakuten Corp is a Japan-based company engages in producing and sponsoring event promotions, exhibitions, business meetings, private shows, conferences, and conventions, among others. It is also engaged in the design, construction, and supervision of commercial spaces, such as road shows, conferences, and ceremonies, as well as the provision of digital marketing solutions.
68GF Score

Get the complete analysis for TSE:2173

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

円711.00
Price
円977.14
GF Value