SRA Holdings (TSE:3817) Operating Income: 円8,121 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:3817 SRA Holdings Inc TSE:3817
82 GF Score
Price 円4,845.00
GF Value 円4,755.64
Valuation Fairly Valued
View Full Analysis

What is SRA Holdings Operating Income?

SRA Holdings TSE:3817 +1.57% 82 Operating Income is 円8,121 Mil as of Mar. 2026. GuruFocus rates TSE:3817 with a GF Score™ of 82/100 and a GF Value™ of 円4,755.64 (Fairly Valued).

SRA Holdings's Operating Income for the three months ended in Mar. 2026 was 円2,438 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円8,121 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. SRA Holdings's Operating Income for the three months ended in Mar. 2026 was 円2,438 Mil. SRA Holdings's Revenue for the three months ended in Mar. 2026 was 円13,824 Mil. Therefore, SRA Holdings's Operating Margin % for the quarter that ended in Mar. 2026 was 17.64%.

Good Sign:

SRA Holdings Inc operating margin is expanding. Margin expansion is usually a good sign.

SRA Holdings's 5-Year average Growth Rate for Operating Margin % was 4.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. SRA Holdings's annualized ROC % for the quarter that ended in Mar. 2026 was 23.40%. SRA Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 5,413.33%.


SRA Holdings  (TSE:3817) Operating Income Explanation

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

SRA Holdings'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: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=9752 * ( 1 - 42.63% )/( (24507 + 23317)/ 2 )
=5594.7224/23912
=23.40 %

where

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

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

SRA Holdings'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: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=10556/( ( (191 + max(-1117, 0)) + (199 + max(-1776, 0)) )/ 2 )
=10556/( ( 191 + 199 )/ 2 )
=10556/195
=5,413.33 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(8191 + 2994 + 738) - (6382 + 0 + 6658)
=-1117

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(9317 + 2233 + 641) - (7616 + 0 + 6351)
=-1776

When net working capital is negative, 0 is used.

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

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

SRA Holdings'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 )
=2438/13824
=17.64 %

* 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.


SRA Holdings Operating Income Related Terms


SRA Holdings Operating Income Historical Data

* Premium members only.

The historical data trend for SRA Holdings'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.

SRA Holdings Operating Income Chart

SRA Holdings 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 5,440.00 6,004.00 6,908.00 7,941.00 8,245.00

SRA Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 1,849.00 2,000.00 1,958.00 2,438.00 1,725.00
TSE:3817
82GF Score
SRA Holdings Inc TSE:3817
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

SRA Holdings 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 quarterly data reported by the company within the most recent 12 months, which was 円8,121 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8,121 Mil mean?
SRA Holdings (TSE:3817) has a Operating Income of 円8,121 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on SRA Holdings and its competitors.
Is SRA Holdings' Operating Income too high?
SRA Holdings' current Operating Income is 円8,121 Mil. Overall, SRA Holdings has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does SRA Holdings' Operating Income compare to IBM and ACN?
SRA Holdings' Operating Income of 円8,121 Mil can be compared against companies in the Software 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 Software company?
A good Operating Income depends on the Software 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 SRA Holdings and its competitors. SRA Holdings's current Operating Income is 円8,121 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SRA Holdings stock overvalued right now?
Based on GuruFocus' analysis, SRA Holdings (TSE:3817) is currently considered Fairly Valued. The stock's GF Value™ is 円4,755.64, compared to a current price of 円4,845.00 — trading 1.9% above its estimated fair value. The current Operating Income is 円8,121 Mil. SRA Holdings' overall GF Score™ is 82/100. 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 SRA Holdings (TSE:3817), the current Operating Income is 円8,121 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 SRA Holdings (TSE:3817) Overvalued in 2026?

Based on GuruFocus' analysis, SRA Holdings stock appears to be overvalued. The current stock price of 円4,845.00 is trading 1.9% above its estimated GF Value™ of 円4,755.64. GuruFocus considers SRA Holdings to be Fairly Valued.

Key valuation signals for TSE:3817:

  • Operating Income: 円8,121 Mil
  • GF Value™: 円4,755.64 vs. price of 円4,845.00 (1.9% above fair value)
  • GF Score™: 82/100

No single metric tells the full story. See the TSE:3817 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


SRA Holdings Business Description

Address 2-32-8 Minami-Ikebukuro, Toshima-ku, Tokyo, JPN, 171-0022
SRA Holdings Inc is an information technology services provider. The company operates through three business areas: systems development, operation/administration services and product solutions marketing. The systems development includes financial IT services, embedded IT services, academic IT services, business systems development and infrastructure development. The operation/administration services include outsourcing services, infrastructure operation services and system operation services. The product solutions marketing includes cloud security, open source software, and development support. The company has an operational presence across Europe, India, China, and Singapore.
82GF Score

Get the complete analysis for TSE:3817

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

円4,845.00
Price
円4,755.64
GF Value