Tomen Devices (TSE:2737) Operating Income: 円18,785 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:2737 Tomen Devices Corp TSE:2737
67 GF Score
Price 円34,500.00
GF Value 円10,488.83
Valuation Significantly Overvalued
! 12 Warning Signs
View Full Analysis

What is Tomen Devices Operating Income?

Tomen Devices TSE:2737 +7.98% 67 Operating Income is 円18,785 Mil as of Mar. 2026. GuruFocus rates TSE:2737 with a GF Score™ of 67/100 and a GF Value™ of 円10,488.83 (Significantly Overvalued). The stock has 12 warning signs investors should review.

Tomen Devices's Operating Income for the six months ended in Mar. 2026 was 円10,618 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円18,785 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Tomen Devices's Operating Income for the six months ended in Mar. 2026 was 円10,618 Mil. Tomen Devices's Revenue for the six months ended in Mar. 2026 was 円390,579 Mil. Therefore, Tomen Devices's Operating Margin % for the quarter that ended in Mar. 2026 was 2.72%.

Good Sign:

Tomen Devices Corp operating margin is expanding. Margin expansion is usually a good sign.

Tomen Devices's 5-Year average Growth Rate for Operating Margin % was 8.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Tomen Devices's annualized ROC % for the quarter that ended in Mar. 2026 was 10.52%. Tomen Devices's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 10.99%.


Tomen Devices  (TSE:2737) Operating Income Explanation

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

Tomen Devices'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 )
=21236 * ( 1 - 17.22% )/( (108424 + 225825)/ 2 )
=17579.1608/167124.5
=10.52 %

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:

Tomen Devices'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 )
=15078/( ( (267 + max(104625, 0)) + (568 + max(169009, 0)) )/ 2 )
=15078/( ( 104892 + 169577 )/ 2 )
=15078/137234.5
=10.99 %

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)
=(83831 + 85069 + 8280) - (70576 + 0 + 1979)
=104625

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(102850 + 221518 + 10932) - (111303 + 0 + 54988)
=169009

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 %:

Tomen Devices'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 )
=10618/390579
=2.72 %

* 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.


Tomen Devices Operating Income Related Terms


Tomen Devices Operating Income Historical Data

* Premium members only.

The historical data trend for Tomen Devices'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.

Tomen Devices Operating Income Chart

Tomen Devices 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 10,630.00 12,230.00 9,480.00 10,169.00 18,785.00

Tomen Devices 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 3,776.00 5,989.00 4,180.00 8,167.00 10,618.00
TSE:2737
67GF Score
Tomen Devices Corp TSE:2737
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Tomen Devices 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18,785 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18,785 Mil mean?
Tomen Devices (TSE:2737) has a Operating Income of 円18,785 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Tomen Devices and its competitors.
Is Tomen Devices' Operating Income too high?
Tomen Devices' current Operating Income is 円18,785 Mil. Overall, Tomen Devices has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tomen Devices' Operating Income compare to NVDA and AVGO?
Tomen Devices' Operating Income of 円18,785 Mil can be compared against companies in the Semiconductors 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 Semiconductors company?
A good Operating Income depends on the Semiconductors 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 Tomen Devices and its competitors. Tomen Devices's current Operating Income is 円18,785 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tomen Devices stock overvalued right now?
Based on GuruFocus' analysis, Tomen Devices (TSE:2737) is currently considered Significantly Overvalued. The stock's GF Value™ is 円10,488.83, compared to a current price of 円34,500.00 — trading 228.9% above its estimated fair value. The current Operating Income is 円18,785 Mil. Tomen Devices' overall GF Score™ is 67/100 with 12 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 Tomen Devices (TSE:2737), the current Operating Income is 円18,785 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 Tomen Devices (TSE:2737) Overvalued in 2026?

Based on GuruFocus' analysis, Tomen Devices stock appears to be overvalued. The current stock price of 円34,500.00 is trading 228.9% above its estimated GF Value™ of 円10,488.83. GuruFocus considers Tomen Devices to be Significantly Overvalued.

Key valuation signals for TSE:2737:

  • Operating Income: 円18,785 Mil
  • GF Value™: 円10,488.83 vs. price of 円34,500.00 (228.9% above fair value)
  • GF Score™: 67/100 with 12 warning signs

No single metric tells the full story. See the TSE:2737 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tomen Devices Business Description

Address 8-12, Harumi 1-chome, Chuo-ku, Tokyo, JPN, 104-6230
Tomen Devices Corp is a Japan-based company operating in the semiconductor sector. The company is mainly engaged in the production and sales of semiconductors and electronic parts. It offers memory products, system large scale integration (LSI) products, thin film transistor (TFT), liquid crystal panels and fluorescent display tubes.
67GF Score

Get the complete analysis for TSE:2737

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

円34,500.00
Price
円10,488.83
GF Value