Asahi Printing Co (TSE:3951) Operating Income: 円2,008 Mil (TTM As of Mar. 2026)

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TSE:3951 Asahi Printing Co Ltd TSE:3951
71 GF Score
Price 円902.00
GF Value 円989.94
Valuation Fairly Valued
! 2 Warning Signs
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What is Asahi Printing Co Operating Income?

Asahi Printing Co TSE:3951 +0.11% 71 Operating Income is 円2,008 Mil as of Mar. 2026. GuruFocus rates TSE:3951 with a GF Score™ of 71/100 and a GF Value™ of 円989.94 (Fairly Valued). The stock has 2 warning signs investors should review.

Asahi Printing Co's Operating Income for the three months ended in Mar. 2026 was 円439 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円2,008 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Asahi Printing Co's Operating Income for the three months ended in Mar. 2026 was 円439 Mil. Asahi Printing Co's Revenue for the three months ended in Mar. 2026 was 円11,877 Mil. Therefore, Asahi Printing Co's Operating Margin % for the quarter that ended in Mar. 2026 was 3.70%.

Warning Sign:

Asahi Printing Co Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -6.6%.

Asahi Printing Co's 5-Year average Growth Rate for Operating Margin % was -6.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Asahi Printing Co's annualized ROC % for the quarter that ended in Mar. 2026 was 2.90%. Asahi Printing Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 7.28%.


Asahi Printing Co  (TSE:3951) Operating Income Explanation

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

Asahi Printing Co'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 )
=1756 * ( 1 - 5.41% )/( (57721 + 56682)/ 2 )
=1661.0004/57201.5
=2.90 %

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:

Asahi Printing Co'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 )
=3040/( ( (32459 + max(9878, 0)) + (32447 + max(8789, 0)) )/ 2 )
=3040/( ( 42337 + 41236 )/ 2 )
=3040/41786.5
=7.28 %

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)
=(9221 + 3812 + 6727) - (3228 + 0 + 6654)
=9878

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(10367 + 3519 + 5407) - (3495 + 0 + 7009)
=8789

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 %:

Asahi Printing Co'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 )
=439/11877
=3.70 %

* 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.


Asahi Printing Co Operating Income Related Terms


Asahi Printing Co Operating Income Historical Data

* Premium members only.

The historical data trend for Asahi Printing 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.

Asahi Printing Co Operating Income Chart

Asahi Printing Co 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 2,295.95 2,259.70 2,030.95 2,076.00 1,624.00

Asahi Printing Co 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 499.00 462.00 224.00 439.00 883.00
TSE:3951
71GF Score
Asahi Printing Co Ltd TSE:3951
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Asahi Printing 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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was 円2,008 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2,008 Mil mean?
Asahi Printing Co (TSE:3951) has a Operating Income of 円2,008 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Asahi Printing Co and its competitors.
Is Asahi Printing Co's Operating Income too high?
Asahi Printing Co's current Operating Income is 円2,008 Mil. Overall, Asahi Printing Co has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Asahi Printing Co's Operating Income compare to SW and PKG?
Asahi Printing Co's Operating Income of 円2,008 Mil can be compared against companies in the Packaging & Containers 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 Packaging & Containers company?
A good Operating Income depends on the Packaging & Containers 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 Asahi Printing Co and its competitors. Asahi Printing Co's current Operating Income is 円2,008 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asahi Printing Co stock overvalued right now?
Based on GuruFocus' analysis, Asahi Printing Co (TSE:3951) is currently considered Fairly Valued. The stock's GF Value™ is 円989.94, compared to a current price of 円902.00 — trading 8.9% below its estimated fair value. The current Operating Income is 円2,008 Mil. Asahi Printing Co's overall GF Score™ is 71/100 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 Asahi Printing Co (TSE:3951), the current Operating Income is 円2,008 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 Asahi Printing Co (TSE:3951) Overvalued in 2026?

Based on GuruFocus' analysis, Asahi Printing Co stock appears to be undervalued. The current stock price of 円902.00 is trading 8.9% below its estimated GF Value™ of 円989.94. GuruFocus considers Asahi Printing Co to be Fairly Valued.

Key valuation signals for TSE:3951:

  • Operating Income: 円2,008 Mil
  • GF Value™: 円989.94 vs. price of 円902.00 (8.9% below fair value)
  • GF Score™: 71/100 with 2 warning signs

No single metric tells the full story. See the TSE:3951 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Asahi Printing Co Business Description

Address Ichibancho Square Building, 1-1 Ichibancho, Toyama Prefecture, Toyama, JPN, 930-0061
Asahi Printing Co Ltd is engaged in the manufacture and sale of printing and packaging materials. In addition, the company also engages in the temporary staffing business. The company operates in three segments, which include the Printing and packaging business, the Packaging Systems Sales Business, and Others.
71GF Score

Get the complete analysis for TSE:3951

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

円902.00
Price
円989.94
GF Value