Eltes Co (TSE:3967) Operating Income: 円452 Mil (TTM As of Feb. 2026)

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TSE:3967 Eltes Co Ltd TSE:3967
63 GF Score
Price 円595.00
GF Value 円980.94
Valuation Possible Value Trap
! 5 Warning Signs
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What is Eltes Co Operating Income?

Eltes Co TSE:3967 -0.50% 63 Operating Income is 円452 Mil as of Feb. 2026. GuruFocus rates TSE:3967 with a GF Score™ of 63/100 and a GF Value™ of 円980.94 (Possible Value Trap). The stock has 5 warning signs investors should review.

Eltes Co's Operating Income for the three months ended in Feb. 2026 was 円338 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was 円452 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Eltes Co's Operating Income for the three months ended in Feb. 2026 was 円338 Mil. Eltes Co's Revenue for the three months ended in Feb. 2026 was 円2,391 Mil. Therefore, Eltes Co's Operating Margin % for the quarter that ended in Feb. 2026 was 14.13%.

Eltes 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. Eltes Co's annualized ROC % for the quarter that ended in Feb. 2026 was 0.00%. Eltes Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 16.20%.


Eltes Co  (TSE:3967) Operating Income Explanation

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

Eltes 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 )
=1351.744 * ( 1 - 100% )/( (5644.938 + 5436.997)/ 2 )
=0/5540.9675
=0.00 %

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))
=7126.765 - 612.679 - ( 2063.491 - max(0, 3047.776 - 3916.924+2063.491))
=5644.938

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))
=7133.433 - 737.325 - ( 1826.515 - max(0, 3372.969 - 4332.08+1826.515))
=5436.997

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

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

Eltes 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 )
=176.412/( ( (236.7 + max(612.961, 0)) + (208.36 + max(1119.954, 0)) )/ 2 )
=176.412/( ( 849.661 + 1328.314 )/ 2 )
=176.412/1088.9875
=16.20 %

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)
=(1087.439 + 619.017 + 146.977) - (612.679 + 0 + 627.793)
=612.961

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1534.501 + 799.979 + 171.085) - (737.325 + 0 + 648.286)
=1119.954

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 %:

Eltes 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 )
=337.936/2391.365
=14.13 %

* 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.


Eltes Co Operating Income Related Terms


Eltes Co Operating Income Historical Data

* Premium members only.

The historical data trend for Eltes 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.

Eltes Co Operating Income Chart

Eltes 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 80.37 202.53 182.08 93.33 431.44

Eltes 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 44.60 47.85 1.05 337.94 65.36
TSE:3967
63GF Score
Eltes Co Ltd TSE:3967
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Eltes 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452 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452 Mil mean?
Eltes Co (TSE:3967) has a Operating Income of 円452 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Eltes Co and its competitors.
Is Eltes Co's Operating Income too high?
Eltes Co's current Operating Income is 円452 Mil. Overall, Eltes Co has a GF Score™ of 63/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Eltes Co's Operating Income compare to QH and SHOP?
Eltes Co's Operating Income of 円452 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 Eltes Co and its competitors. Eltes Co's current Operating Income is 円452 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Eltes Co stock overvalued right now?
Based on GuruFocus' analysis, Eltes Co (TSE:3967) is currently considered Possible Value Trap. The stock's GF Value™ is 円980.94, compared to a current price of 円595.00 — trading 39.3% below its estimated fair value. The current Operating Income is 円452 Mil. Eltes Co's overall GF Score™ is 63/100 with 5 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 Eltes Co (TSE:3967), the current Operating Income is 円452 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 Eltes Co (TSE:3967) Overvalued in 2026?

Based on GuruFocus' analysis, Eltes Co stock appears to be undervalued. The current stock price of 円595.00 is trading 39.3% below its estimated GF Value™ of 円980.94. GuruFocus considers Eltes Co to be Possible Value Trap.

Key valuation signals for TSE:3967:

  • Operating Income: 円452 Mil
  • GF Value™: 円980.94 vs. price of 円595.00 (39.3% below fair value)
  • GF Score™: 63/100 with 5 warning signs

No single metric tells the full story. See the TSE:3967 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Eltes Co Business Description

Address 2-3 Shiwa Chuo Ekimae, Shiwa-gun, Shiwa-cho, Iwate Prefecture, JPN, 100-6006
Eltes Co Ltd provides consultation services based on digital risk technology for database risk and other large storage protection in Japan. It also offers internal fraud detection services that enable the prevention of information security breaches caused by internal factors; and a service that includes detection and diagnosis of security breaches caused by external factors.
63GF Score

Get the complete analysis for TSE:3967

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

円595.00
Price
円980.94
GF Value