JM Holdings Co (TSE:3539) Operating Income : 円9,149 Mil (TTM As of Jul. 2024)

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What is JM Holdings Co Operating Income?

JM Holdings Co's Operating Income for the three months ended in Jul. 2024 was 円1,708 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jul. 2024 was 円9,149 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. JM Holdings Co's Operating Income for the three months ended in Jul. 2024 was 円1,708 Mil. JM Holdings Co's Revenue for the three months ended in Jul. 2024 was 円42,953 Mil. Therefore, JM Holdings Co's Operating Margin % for the quarter that ended in Jul. 2024 was 3.98%.

Good Sign:

JM Holdings Co Ltd operating margin is expanding. Margin expansion is usually a good sign.

JM Holdings Co's 5-Year average Growth Rate for Operating Margin % was 2.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. JM Holdings Co's annualized ROC % for the quarter that ended in Jul. 2024 was 18.97%. JM Holdings Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jul. 2024 was 21.57%.

JM Holdings Co Operating Income Historical Data

The historical data trend for JM Holdings Co'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.

* Premium members only.

JM Holdings Co Operating Income Chart

JM Holdings Co Annual Data

Trend

Jul15

Jul16

Jul17

Jul18

Jul19

Jul20

Jul21

Jul22

Jul23

Jul24

Operating Income

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6,717.00

6,576.00

6,676.00

7,243.00

9,149.00

JM Holdings Co Quarterly Data
	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24	Apr24	Jul24
Operating Income	Get a 7-Day Free Trial															1,637.00	2,061.00	3,172.00	2,208.00	1,708.00

JM Holdings Co 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 Jul. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was 円9,149 Mil.

JM Holdings Co (TSE:3539) Operating Income Explanation

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

JM Holdings Co's annualized ROC % for the quarter that ended in Jul. 2024 is calculated as:

	ROC % (Q: Jul. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Apr. 2024 )	+	Invested Capital (Q: Jul. 2024 ))	/ count )
=	6832 * ( 1 - -18.07% )	/	( (42970	+	42065)	/ 2 )
=	8066.5424	/	42517.5
=	18.97 %

where

	Invested Capital		(Q: Apr. 2024 )
=	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	))
=	69864	-	11478	-	( 21821	-	max(0, 20682	-	36098	+	21821	))
=	42970

	Invested Capital		(Q: Jul. 2024 )
=	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	))
=	71359	-	14355	-	( 22405	-	max(0, 21063	-	36002	+	22405	))
=	42065

Note: The Operating Income data used here is four times the quarterly (Jul. 2024) data.

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

JM Holdings Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jul. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jul. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Apr. 2024		Q: Jul. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	5136	/	( ( (23075 + max(-2356, 0))	+	(24538 + max(-2615, 0)) )	/	2 )
=	5136	/	( ( 23075	+	24538 )	/	2 )
=	5136	/	23806.5
=	21.57 %

where Working Capital is:

	Working Capital		(Q: Apr. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3539	+	8094	+	2644)	-	(11478	+	0	+	5155)
=	-2356

	Working Capital		(Q: Jul. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3544	+	7631	+	2422)	-	(14355	+	0	+	1857)
=	-2615

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jul. 2024) EBIT data.

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

JM Holdings Co's Operating Margin % for the quarter that ended in Jul. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Jul. 2024 )	/	Revenue (Q: Jul. 2024 )
	=	1708	/	42953
	=	3.98 %

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.

JM Holdings Co Operating Income Related Terms

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JM Holdings Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Retail - Defensive » JM Holdings Co Ltd (TSE:3539) » Definitions » Operating Income

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Traded in Other Exchanges

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Address

Tsuchiura-shi wholesale Town 2-3, 30 Ibaraki prefecture, Ibaraki, JPN, 300-0847

Website

http://www.japanmeat.co.jp

JM Holdings Co Ltd operates food supermarkets that retail meat products, fresh vegetables, fishes and other daily food products. The company also manages beef barbecue restaurants. It offers meat products, including meat processed goods, and frozen and refrigerated processed products, as well as meat of cow, chicken, and ham, as well as pork; food products comprising seasonings, processed foods, rice, bread, sake, noodles, eggs, dairy products; and vegetables, fruits, vegetables and fruits processed products, fresh juices, and cakes. It also provides fish products, sushi, dried fish, seaweed, shellfish, crustaceans, marine processing; and prepared foods, including lunch and fried foods, and tonkatsu, as well as salads, boiled foods, pottery, steamed foods.

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