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Morinaga's Operating Income for the
three
months ended in Mar. 2026 was 円2,781 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円22,394 Mil.
Operating Margin % is calculated as Operating Income divided by its Revenue. Morinaga's Operating Income for the
three
months ended in Mar. 2026 was 円2,781 Mil. Morinaga's Revenue for the
three
months ended in Mar. 2026 was 円55,038 Mil. Therefore, Morinaga's Operating Margin % for the quarter that ended in Mar. 2026 was 5.05%.
Warning Sign:
Morinaga & Co Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -2.5%.
Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
Morinaga's annualizedROC % for the quarter that ended in Mar. 2026 was 4.42%.
Morinaga's annualizedROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 12.59%.
Morinaga (TSE:2201) Operating Income Explanation
1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
Morinaga's annualizedROC % for the quarter that ended in Mar. 2026 is calculated as:
* 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.
Morinaga Operating Income Related Terms
Morinaga Operating Income Historical Data
* Premium members only.
The historical data trend for Morinaga'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.
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22,394 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.
Morinaga (TSE:2201) has a Operating Income of 円22,394 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Morinaga and its competitors.
Is Morinaga's Operating Income too high?
Morinaga's current Operating Income is 円22,394 Mil. Overall, Morinaga has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Morinaga's Operating Income compare to MDLZ and HSY?
Morinaga's Operating Income of 円22,394 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 Morinaga and its competitors. Morinaga's current Operating Income is 円22,394 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Morinaga stock overvalued right now?
Based on GuruFocus' analysis, Morinaga (TSE:2201) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,110.35, compared to a current price of 円2,647.50 — trading 14.9% below its estimated fair value. The current Operating Income is 円22,394 Mil. Morinaga's overall GF Score™ is 85/100 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 Morinaga (TSE:2201), the current Operating Income is 円22,394 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 Morinaga (TSE:2201) Overvalued in 2026?
Based on GuruFocus' analysis, Morinaga stock appears to be undervalued.
The current stock price of 円2,647.50 is trading 14.9% below its estimated GF Value™ of 円3,110.35.
GuruFocus considers Morinaga to be Modestly Undervalued.
Key valuation signals for TSE:2201:
Operating Income: 円22,394 Mil
GF Value™: 円3,110.35 vs. price of 円2,647.50 (14.9% below fair value)
No single metric tells the full story. See the TSE:2201 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Morinaga & Co Ltd is a Japan-based confectionery company. It has developed a diverse range of confectionery products, canned soft drinks and ice cream that are delicious, fun, and healthy. The company's products are divided into five main divisions, Confectioneries, Foods, Frozen Desserts, Weider, and Healthcare. Confectionaries include Morinaga Biscuits, Chocoball chocolate, Dars chocolate, Koeda chocolate, and HI-CHEW candy. Foods include Morinaga Cocoa; Frozen Desserts include Choco Monaka Jumbo; Weider products include Weider in Jelly; and Healthcare products include Seisho-sabo, Kenpo-shukan, and Collagen drink.
85GF Score
Get the complete analysis for TSE:2201
Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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