STUDIO ATAO Co (TSE:3550) Operating Income: 円240 Mil (TTM As of Feb. 2026)

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TSE:3550 STUDIO ATAO Co Ltd TSE:3550
75 GF Score
Price 円219.00
GF Value 円246.36
Valuation Modestly Undervalued
! 2 Warning Signs
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What is STUDIO ATAO Co Operating Income?

STUDIO ATAO Co TSE:3550 75 Operating Income is 円240 Mil as of Feb. 2026. GuruFocus rates TSE:3550 with a GF Score™ of 75/100 and a GF Value™ of 円246.36 (Modestly Undervalued). The stock has 2 warning signs investors should review.

STUDIO ATAO Co's Operating Income for the three months ended in Feb. 2026 was 円93 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was 円240 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. STUDIO ATAO Co's Operating Income for the three months ended in Feb. 2026 was 円93 Mil. STUDIO ATAO Co's Revenue for the three months ended in Feb. 2026 was 円1,307 Mil. Therefore, STUDIO ATAO Co's Operating Margin % for the quarter that ended in Feb. 2026 was 7.12%.

STUDIO ATAO Co's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. STUDIO ATAO Co's annualized ROC % for the quarter that ended in Feb. 2026 was 21.66%. STUDIO ATAO Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 63.60%.


STUDIO ATAO Co  (TSE:3550) Operating Income Explanation

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

STUDIO ATAO Co'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: Nov. 2025 ) + Invested Capital (Q: Feb. 2026 ))/ count )
=372.572 * ( 1 - 33.66% )/( (1327.587 + 954.298)/ 2 )
=247.1642648/1140.9425
=21.66 %

where

Invested Capital(Q: Nov. 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))
=3240.358 - 285.044 - ( 1627.727 - max(0, 631.742 - 2718.119+1627.727))
=1327.587

Invested Capital(Q: Feb. 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))
=3182.841 - 407.05 - ( 1821.493 - max(0, 512.086 - 2669.492+1821.493))
=954.298

Note: The Operating Income data used here is four times the quarterly (Feb. 2026) data.

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

STUDIO ATAO Co'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: Nov. 2025  Q: Feb. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=379.476/( ( (182.143 + max(498.237, 0)) + (176.95 + max(335.913, 0)) )/ 2 )
=379.476/( ( 680.38 + 512.863 )/ 2 )
=379.476/596.6215
=63.60 %

where Working Capital is:

Working Capital(Q: Nov. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(392.343 + 564.51 + 133.539) - (285.044 + 0 + 307.111)
=498.237

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(325.685 + 450.932 + 71.382000000001) - (407.05 + 0 + 105.036)
=335.913

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Feb. 2026) EBIT data.

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

STUDIO ATAO Co'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 )
=93.143/1307.42
=7.12 %

* 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.


STUDIO ATAO Co Operating Income Related Terms


STUDIO ATAO Co Operating Income Historical Data

* Premium members only.

The historical data trend for STUDIO ATAO 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.

STUDIO ATAO Co Operating Income Chart

STUDIO ATAO Co Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 12.75 -257.45 123.69 182.60 239.30

STUDIO ATAO Co Quarterly Data
May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Feb25 May25 Aug25 Nov25 Feb26 May26
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 91.97 14.69 39.49 93.14 92.76
TSE:3550
75GF Score
STUDIO ATAO Co Ltd TSE:3550
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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STUDIO ATAO 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 Feb. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was 円240 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240 Mil mean?
STUDIO ATAO Co (TSE:3550) has a Operating Income of 円240 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on STUDIO ATAO Co and its competitors.
Is STUDIO ATAO Co's Operating Income too high?
STUDIO ATAO Co's current Operating Income is 円240 Mil. Overall, STUDIO ATAO Co has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does STUDIO ATAO Co's Operating Income compare to NKE and DECK?
STUDIO ATAO Co's Operating Income of 円240 Mil can be compared against companies in the Manufacturing - Apparel & Accessories 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 Manufacturing - Apparel & Accessories company?
A good Operating Income depends on the Manufacturing - Apparel & Accessories 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 STUDIO ATAO Co and its competitors. STUDIO ATAO Co's current Operating Income is 円240 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is STUDIO ATAO Co stock overvalued right now?
Based on GuruFocus' analysis, STUDIO ATAO Co (TSE:3550) is currently considered Modestly Undervalued. The stock's GF Value™ is 円246.36, compared to a current price of 円219.00 — trading 11.1% below its estimated fair value. The current Operating Income is 円240 Mil. STUDIO ATAO Co's overall GF Score™ is 75/100 with 2 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 STUDIO ATAO Co (TSE:3550), the current Operating Income is 円240 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 STUDIO ATAO Co (TSE:3550) Overvalued in 2026?

Based on GuruFocus' analysis, STUDIO ATAO Co stock appears to be undervalued. The current stock price of 円219.00 is trading 11.1% below its estimated GF Value™ of 円246.36. GuruFocus considers STUDIO ATAO Co to be Modestly Undervalued.

Key valuation signals for TSE:3550:

  • Operating Income: 円240 Mil
  • GF Value™: 円246.36 vs. price of 円219.00 (11.1% below fair value)
  • GF Score™: 75/100 with 2 warning signs

No single metric tells the full story. See the TSE:3550 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


STUDIO ATAO Co Business Description

Address 1-6, Gokodori 8-chome, Hyogo Prefecture, Chuo-ku, Tokyo, JPN, 651-0087
STUDIO ATAO Co Ltd design and sells bags and purses. The company also manages direct retail stores and internet stores. The firm engages in the planning and sale of original bags, wallets. It also administers and manages stores; produces and operates Internet shops; and plans and produces paper media, including illustrations, as well as engages in character planning, creation, planning, and production of promotional goods, such as novelties.
75GF Score

Get the complete analysis for TSE:3550

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

円219.00
Price
円246.36
GF Value