Naigai Tec (TSE:3374) Operating Income: 円1,403 Mil (TTM As of Mar. 2026)

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TSE:3374 Naigai Tec Corp TSE:3374
77 GF Score
Price 円3,680.00
GF Value 円2,257.57
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is Naigai Tec Operating Income?

Naigai Tec TSE:3374 +2.51% 77 Operating Income is 円1,403 Mil as of Mar. 2026. GuruFocus rates TSE:3374 with a GF Score™ of 77/100 and a GF Value™ of 円2,257.57 (Significantly Overvalued). The stock has 3 warning signs investors should review.

Naigai Tec's Operating Income for the six months ended in Mar. 2026 was 円915 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円1,403 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Naigai Tec's Operating Income for the six months ended in Mar. 2026 was 円915 Mil. Naigai Tec's Revenue for the six months ended in Mar. 2026 was 円17,375 Mil. Therefore, Naigai Tec's Operating Margin % for the quarter that ended in Mar. 2026 was 5.27%.

Warning Sign:

Naigai Tec Corp operating margin has been in a 5-year decline. The average rate of decline per year is -2.3%.

Naigai Tec's 5-Year average Growth Rate for Operating Margin % was -2.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Naigai Tec's annualized ROC % for the quarter that ended in Mar. 2026 was 10.16%. Naigai Tec's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 29.02%.


Naigai Tec  (TSE:3374) Operating Income Explanation

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

Naigai Tec'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 )
=1830.858 * ( 1 - 27.64% )/( (13367.711 + 12708.697)/ 2 )
=1324.8088488/13038.204
=10.16 %

where

Invested Capital(Q: Sep. 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))
=23791.534 - 2359.423 - ( 8381.949 - max(0, 7940.788 - 16005.188+8381.949))
=13367.711

Invested Capital(Q: Mar. 2026 )
=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))
=25081.317 - 3995.518 - ( 9059.518 - max(0, 8833.467 - 17210.569+9059.518))
=12708.697

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:

Naigai Tec'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 )
=1879.69/( ( (6067.312 + max(692.781, 0)) + (5950.263 + max(242.043, 0)) )/ 2 )
=1879.69/( ( 6760.093 + 6192.306 )/ 2 )
=1879.69/6476.1995
=29.02 %

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)
=(4482.764 + 1742.014 + 1398.461) - (2359.423 + 0 + 4571.035)
=692.781

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(5355.084 + 1563.537 + 1232.43) - (3995.518 + 0 + 3913.49)
=242.043

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 %:

Naigai Tec'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 )
=915.429/17374.525
=5.27 %

* 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.


Naigai Tec Operating Income Related Terms


Naigai Tec Operating Income Historical Data

* Premium members only.

The historical data trend for Naigai Tec'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.

Naigai Tec Operating Income Chart

Naigai Tec 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 2,121.67 2,349.14 1,218.33 1,552.06 1,402.94

Naigai Tec 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 696.81 423.27 1,128.79 487.51 915.43
TSE:3374
77GF Score
Naigai Tec Corp TSE:3374
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Naigai Tec 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1,403 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1,403 Mil mean?
Naigai Tec (TSE:3374) has a Operating Income of 円1,403 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Naigai Tec and its competitors.
Is Naigai Tec's Operating Income too high?
Naigai Tec's current Operating Income is 円1,403 Mil. Overall, Naigai Tec has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Naigai Tec's Operating Income compare to VRT and BE?
Naigai Tec's Operating Income of 円1,403 Mil can be compared against companies in the Industrial Products 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 an Industrial Products company?
A good Operating Income depends on the Industrial Products 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 Naigai Tec and its competitors. Naigai Tec's current Operating Income is 円1,403 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Naigai Tec stock overvalued right now?
Based on GuruFocus' analysis, Naigai Tec (TSE:3374) is currently considered Significantly Overvalued. The stock's GF Value™ is 円2,257.57, compared to a current price of 円3,680.00 — trading 63% above its estimated fair value. The current Operating Income is 円1,403 Mil. Naigai Tec's overall GF Score™ is 77/100 with 3 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 Naigai Tec (TSE:3374), the current Operating Income is 円1,403 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 Naigai Tec (TSE:3374) Overvalued in 2026?

Based on GuruFocus' analysis, Naigai Tec stock appears to be overvalued. The current stock price of 円3,680.00 is trading 63% above its estimated GF Value™ of 円2,257.57. GuruFocus considers Naigai Tec to be Significantly Overvalued.

Key valuation signals for TSE:3374:

  • Operating Income: 円1,403 Mil
  • GF Value™: 円2,257.57 vs. price of 円3,680.00 (63% above fair value)
  • GF Score™: 77/100 with 3 warning signs

No single metric tells the full story. See the TSE:3374 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Naigai Tec Business Description

Address 2-11-22 Sangenjaya, 7th Floor, Sun Towers Center Building, Setagaya-ku, Tokyo, JPN, 154-0024
Naigai Tec Corp is engaged in electronics parts design, manufacture, logistics, and after-sale service. It sales, purchase, import and export of pneumatic devices, pneumatic application devices, working machines, electric devices, electronic devices, and other tools. It provides its services to Japan, China, and South Korea. The reportable segments include: Sales business and Contract manufacturing business.
77GF Score

Get the complete analysis for TSE:3374

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

円3,680.00
Price
円2,257.57
GF Value