Baroque Japan (TSE:3548) Operating Income: 円321 Mil (TTM As of Feb. 2026)

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TSE:3548 Baroque Japan Ltd TSE:3548
62 GF Score
Price 円730.00
GF Value 円702.58
Valuation Fairly Valued
! 9 Warning Signs
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What is Baroque Japan Operating Income?

Baroque Japan TSE:3548 -0.14% 62 Operating Income is 円321 Mil as of Feb. 2026. GuruFocus rates TSE:3548 with a GF Score™ of 62/100 and a GF Value™ of 円702.58 (Fairly Valued). The stock has 9 warning signs investors should review.

Baroque Japan's Operating Income for the six months ended in Feb. 2026 was 円398 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was 円321 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Baroque Japan's Operating Income for the six months ended in Feb. 2026 was 円398 Mil. Baroque Japan's Revenue for the six months ended in Feb. 2026 was 円26,698 Mil. Therefore, Baroque Japan's Operating Margin % for the quarter that ended in Feb. 2026 was 1.49%.

Warning Sign:

Baroque Japan Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -26.7%.

Baroque Japan's 5-Year average Growth Rate for Operating Margin % was -26.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Baroque Japan's annualized ROC % for the quarter that ended in Feb. 2026 was 4.94%. Baroque Japan's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 12.65%.


Baroque Japan  (TSE:3548) Operating Income Explanation

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

Baroque Japan's annualized ROC % for the quarter that ended in Feb. 2026 is calculated as:

ROC % (Q: Feb. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Aug. 2025 ) + Invested Capital (Q: Feb. 2026 ))/ count )
=796 * ( 1 - 2.73% )/( (13896 + 17453)/ 2 )
=774.2692/15674.5
=4.94 %

where

Note: The Operating Income data used here is two times the semi-annual (Feb. 2026) data.

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

Baroque Japan's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Aug. 2025  Q: Feb. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=818/( ( (4828 + max(3365, 0)) + (4743 + max(-275, 0)) )/ 2 )
=818/( ( 8193 + 4743 )/ 2 )
=818/6468
=12.65 %

where Working Capital is:

Working Capital(Q: Aug. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2906 + 5219 + 321) - (3765 + 0 + 1316)
=3365

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2442 + 5067 + 323) - (7096 + 0 + 1011)
=-275

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Feb. 2026) EBIT data.

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

Baroque Japan's Operating Margin % for the quarter that ended in Feb. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Feb. 2026 )/Revenue (Q: Feb. 2026 )
=398/26698
=1.49 %

* 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.


Baroque Japan Operating Income Related Terms


Baroque Japan Operating Income Historical Data

* Premium members only.

The historical data trend for Baroque Japan'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.

Baroque Japan Operating Income Chart

Baroque Japan Annual Data
Trend Jan16 Jan17 Jan18 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,753.00 2,151.00 1,955.00 813.00 321.00

Baroque Japan Semi-Annual Data
Jan16 Jul16 Jan17 Jul17 Jan18 Jul18 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
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 1,045.00 106.00 707.00 -77.00 398.00
TSE:3548
62GF Score
Baroque Japan Ltd TSE:3548
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Baroque Japan 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 Feb. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was 円321 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321 Mil mean?
Baroque Japan (TSE:3548) has a Operating Income of 円321 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Baroque Japan and its competitors.
Is Baroque Japan's Operating Income too high?
Baroque Japan's current Operating Income is 円321 Mil. Overall, Baroque Japan has a GF Score™ of 62/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Baroque Japan's Operating Income compare to TJX and ROST?
Baroque Japan's Operating Income of 円321 Mil can be compared against companies in the Retail - Cyclical 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 Retail - Cyclical company?
A good Operating Income depends on the Retail - Cyclical 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 Baroque Japan and its competitors. Baroque Japan's current Operating Income is 円321 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Baroque Japan stock overvalued right now?
Based on GuruFocus' analysis, Baroque Japan (TSE:3548) is currently considered Fairly Valued. The stock's GF Value™ is 円702.58, compared to a current price of 円730.00 — trading 3.9% above its estimated fair value. The current Operating Income is 円321 Mil. Baroque Japan's overall GF Score™ is 62/100 with 9 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 Baroque Japan (TSE:3548), the current Operating Income is 円321 Mil as of Feb. 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 Baroque Japan (TSE:3548) Overvalued in 2026?

Based on GuruFocus' analysis, Baroque Japan stock appears to be overvalued. The current stock price of 円730.00 is trading 3.9% above its estimated GF Value™ of 円702.58. GuruFocus considers Baroque Japan to be Fairly Valued.

Key valuation signals for TSE:3548:

  • Operating Income: 円321 Mil
  • GF Value™: 円702.58 vs. price of 円730.00 (3.9% above fair value)
  • GF Score™: 62/100 with 9 warning signs

No single metric tells the full story. See the TSE:3548 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Baroque Japan Business Description

Address 4-7-7 Aobadai, Sumitomo Realty & Development Aobadai Hills, Meguro-ku, Tokyo, JPN, 153-0042
Baroque Japan Ltd operates as a holding company which engages in the operation of apparels and accessory franchise stores. The company provides fashion building and train station building apparels, shopping center apparels, department store apparels, non-store (mail order-wholesale), shoes, and own branded stores and online shopping malls.
62GF Score

Get the complete analysis for TSE:3548

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

円730.00
Price
円702.58
GF Value