Cube System (TSE:2335) Operating Income: 円1,515 Mil (TTM As of Mar. 2026)

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TSE:2335 Cube System Inc TSE:2335
69 GF Score
Price 円1,071.00
GF Value 円1,144.83
Valuation Fairly Valued
! 1 Warning Sign
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What is Cube System Operating Income?

Cube System TSE:2335 +0.19% 69 Operating Income is 円1,515 Mil as of Mar. 2026. GuruFocus rates TSE:2335 with a GF Score™ of 69/100 and a GF Value™ of 円1,144.83 (Fairly Valued). The stock has 1 warning sign investors should review.

Cube System's Operating Income for the three months ended in Mar. 2026 was 円427 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円1,515 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Cube System's Operating Income for the three months ended in Mar. 2026 was 円427 Mil. Cube System's Revenue for the three months ended in Mar. 2026 was 円4,739 Mil. Therefore, Cube System's Operating Margin % for the quarter that ended in Mar. 2026 was 9.01%.

Cube System's 5-Year average Growth Rate for Operating Margin % was -0.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Cube System's annualized ROC % for the quarter that ended in Mar. 2026 was 25.01%. Cube System's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 98.14%.


Cube System  (TSE:2335) Operating Income Explanation

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

Cube System'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 )
=1708 * ( 1 - 0% )/( (6875 + 6784)/ 2 )
=1708/6829.5
=25.01 %

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:

Cube System'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 )
=1688/( ( (489 + max(1222, 0)) + (469 + max(1260, 0)) )/ 2 )
=1688/( ( 1711 + 1729 )/ 2 )
=1688/1720
=98.14 %

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)
=(3171 + 16 + 168) - (937 + 0 + 1196)
=1222

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3509 + 0 + 257) - (1172 + 0 + 1334)
=1260

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 %:

Cube System'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 )
=427/4739
=9.01 %

* 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.


Cube System Operating Income Related Terms


Cube System Operating Income Historical Data

* Premium members only.

The historical data trend for Cube System'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.

Cube System Operating Income Chart

Cube System 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 1,417.89 1,452.50 1,538.00 1,386.00 1,563.00

Cube System Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 403.00 330.00 403.00 427.00 355.00
TSE:2335
69GF Score
Cube System Inc TSE:2335
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Cube System 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1,515 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1,515 Mil mean?
Cube System (TSE:2335) has a Operating Income of 円1,515 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Cube System and its competitors.
Is Cube System's Operating Income too high?
Cube System's current Operating Income is 円1,515 Mil. Overall, Cube System has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Cube System's Operating Income compare to IBM and ACN?
Cube System's Operating Income of 円1,515 Mil can be compared against companies in the Software 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 Software company?
A good Operating Income depends on the Software 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 Cube System and its competitors. Cube System's current Operating Income is 円1,515 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cube System stock overvalued right now?
Based on GuruFocus' analysis, Cube System (TSE:2335) is currently considered Fairly Valued. The stock's GF Value™ is 円1,144.83, compared to a current price of 円1,071.00 — trading 6.4% below its estimated fair value. The current Operating Income is 円1,515 Mil. Cube System's overall GF Score™ is 69/100 with 1 warning sign 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 Cube System (TSE:2335), the current Operating Income is 円1,515 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 Cube System (TSE:2335) Overvalued in 2026?

Based on GuruFocus' analysis, Cube System stock appears to be undervalued. The current stock price of 円1,071.00 is trading 6.4% below its estimated GF Value™ of 円1,144.83. GuruFocus considers Cube System to be Fairly Valued.

Key valuation signals for TSE:2335:

  • Operating Income: 円1,515 Mil
  • GF Value™: 円1,144.83 vs. price of 円1,071.00 (6.4% below fair value)
  • GF Score™: 69/100 with 1 warning sign

No single metric tells the full story. See the TSE:2335 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Cube System Business Description

Address Osaki Wiz Tower, 2-11-1, Osaki, Shinagawa-ku, Tokyo, JPN, 141-0032
Cube System Inc is an independent information technology company. It organized into three service lines: system integration services, professional services and system outsourcing services. The system integration service includes business system design and development, system migration, downsizing, system transition and offshore development services. The system outsourcing services include the management of business applications, as well as the operation and management of systems. The professional service includes system consulting, system transition, database management and information infrastructure construction services.
69GF Score

Get the complete analysis for TSE:2335

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

円1,071.00
Price
円1,144.83
GF Value