Media Do Co (TSE:3678) Operating Income: 円2,241 Mil (TTM As of Feb. 2026)

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TSE:3678 Media Do Co Ltd TSE:3678
66 GF Score
Price 円1,314.00
GF Value 円1,722.15
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Media Do Co Operating Income?

Media Do Co TSE:3678 +0.61% 66 Operating Income is 円2,241 Mil as of Feb. 2026. GuruFocus rates TSE:3678 with a GF Score™ of 66/100 and a GF Value™ of 円1,722.15 (Modestly Undervalued). The stock has 4 warning signs investors should review.

Media Do Co's Operating Income for the three months ended in Feb. 2026 was 円546 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was 円2,241 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Media Do Co's Operating Income for the three months ended in Feb. 2026 was 円546 Mil. Media Do Co's Revenue for the three months ended in Feb. 2026 was 円28,029 Mil. Therefore, Media Do Co's Operating Margin % for the quarter that ended in Feb. 2026 was 1.95%.

Warning Sign:

Media Do Co Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -5.8%.

Media Do Co's 5-Year average Growth Rate for Operating Margin % was -5.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Media Do Co's annualized ROC % for the quarter that ended in Feb. 2026 was 12.87%. Media Do Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 20.84%.


Media Do Co  (TSE:3678) Operating Income Explanation

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

Media Do 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 )
=2184 * ( 1 - 0% )/( (17059 + 16893)/ 2 )
=2184/16976
=12.87 %

where

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

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

Media Do 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 )
=104/( ( (529 + max(-2652, 0)) + (469 + max(-4226, 0)) )/ 2 )
=104/( ( 529 + 469 )/ 2 )
=104/499
=20.84 %

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)
=(28528 + 0 + 1922) - (30407 + 0 + 2695)
=-2652

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(27764 + 0 + 2223) - (31718 + 0 + 2495)
=-4226

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 %:

Media Do 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 )
=546/28029
=1.95 %

* 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.


Media Do Co Operating Income Related Terms


Media Do Co Operating Income Historical Data

* Premium members only.

The historical data trend for Media Do 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.

Media Do Co Operating Income Chart

Media Do 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 2,811.00 2,394.00 2,066.00 2,475.00 2,454.00

Media Do Co Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 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 654.00 746.00 508.00 546.00 441.00
TSE:3678
66GF Score
Media Do Co Ltd TSE:3678
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Media Do 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2,241 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2,241 Mil mean?
Media Do Co (TSE:3678) has a Operating Income of 円2,241 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Media Do Co and its competitors.
Is Media Do Co's Operating Income too high?
Media Do Co's current Operating Income is 円2,241 Mil. Overall, Media Do Co has a GF Score™ of 66/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Media Do Co's Operating Income compare to NYT and WLY?
Media Do Co's Operating Income of 円2,241 Mil can be compared against companies in the Media - Diversified 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 Media - Diversified company?
A good Operating Income depends on the Media - Diversified 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 Media Do Co and its competitors. Media Do Co's current Operating Income is 円2,241 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Media Do Co stock overvalued right now?
Based on GuruFocus' analysis, Media Do Co (TSE:3678) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,722.15, compared to a current price of 円1,314.00 — trading 23.7% below its estimated fair value. The current Operating Income is 円2,241 Mil. Media Do Co's overall GF Score™ is 66/100 with 4 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 Media Do Co (TSE:3678), the current Operating Income is 円2,241 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 Media Do Co (TSE:3678) Overvalued in 2026?

Based on GuruFocus' analysis, Media Do Co stock appears to be undervalued. The current stock price of 円1,314.00 is trading 23.7% below its estimated GF Value™ of 円1,722.15. GuruFocus considers Media Do Co to be Modestly Undervalued.

Key valuation signals for TSE:3678:

  • Operating Income: 円2,241 Mil
  • GF Value™: 円1,722.15 vs. price of 円1,314.00 (23.7% below fair value)
  • GF Score™: 66/100 with 4 warning signs

No single metric tells the full story. See the TSE:3678 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Media Do Co Business Description

Address 1-1-1 Hitotsubashi Chiyoda-ku, 5th & 8th Floor, Palaceside Building, Tokyo, JPN, 100-0003
Media Do Co Ltd is engaged in the business of distributing eBooks. The company provides all kinds of trade eBooks, from comics, fiction, and nonfiction books to photo-books and magazines. The group operates two segments: E-book Distribution Business and Strategic Investment Business. The majority of its revenue is generated from the E-book Distribution Business, which mainly involves acting as an intermediary for domestic e-bookstores, and the intermediary business. Strategic Investment Projects is a group of businesses that aims to create a second revenue stream by utilizing the various networks cultivated within the company.
66GF Score

Get the complete analysis for TSE:3678

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

円1,314.00
Price
円1,722.15
GF Value