Toda Kogyo (TSE:4100) Operating Income: 円866 Mil (TTM As of Mar. 2026)

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TSE:4100 Toda Kogyo Corp TSE:4100
50 GF Score
Price 円1,496.00
GF Value 円1,394.38
Valuation Fairly Valued
! 5 Warning Signs
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What is Toda Kogyo Operating Income?

Toda Kogyo TSE:4100 +1.91% 50 Operating Income is 円866 Mil as of Mar. 2026. GuruFocus rates TSE:4100 with a GF Score™ of 50/100 and a GF Value™ of 円1,394.38 (Fairly Valued). The stock has 5 warning signs investors should review.

Toda Kogyo's Operating Income for the six months ended in Mar. 2026 was 円264 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円866 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Toda Kogyo's Operating Income for the six months ended in Mar. 2026 was 円264 Mil. Toda Kogyo's Revenue for the six months ended in Mar. 2026 was 円13,732 Mil. Therefore, Toda Kogyo's Operating Margin % for the quarter that ended in Mar. 2026 was 1.92%.

Toda Kogyo'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. Toda Kogyo's annualized ROC % for the quarter that ended in Mar. 2026 was 1.24%. Toda Kogyo's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -29.30%.


Toda Kogyo  (TSE:4100) Operating Income Explanation

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

Toda Kogyo'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: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=528 * ( 1 - 0% )/( (41262 + 44123)/ 2 )
=528/42692.5
=1.24 %

where

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

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

Toda Kogyo'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: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-5678/( ( (11023 + max(10577, 0)) + (10903 + max(6252, 0)) )/ 2 )
=-5678/( ( 21600 + 17155 )/ 2 )
=-5678/19377.5
=-29.30 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(7600 + 7631 + 996) - (3182 + 0 + 2468)
=10577

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(7118 + 7260 + 737) - (3380 + 0 + 5483)
=6252

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

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

Toda Kogyo'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 )
=264/13732
=1.92 %

* 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.


Toda Kogyo Operating Income Related Terms


Toda Kogyo Operating Income Historical Data

* Premium members only.

The historical data trend for Toda Kogyo'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.

Toda Kogyo Operating Income Chart

Toda Kogyo 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 2,521.00 1,370.00 120.00 -646.00 866.00

Toda Kogyo Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
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 129.00 -265.00 -381.00 602.00 264.00
TSE:4100
50GF Score
Toda Kogyo Corp TSE:4100
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Toda Kogyo 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 semi-annually data reported by the company within the most recent 12 months, which was 円866 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866 Mil mean?
Toda Kogyo (TSE:4100) has a Operating Income of 円866 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Toda Kogyo and its competitors.
Is Toda Kogyo's Operating Income too high?
Toda Kogyo's current Operating Income is 円866 Mil. Overall, Toda Kogyo has a GF Score™ of 50/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Toda Kogyo's Operating Income compare to LIN and SHW?
Toda Kogyo's Operating Income of 円866 Mil can be compared against companies in the Chemicals 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 Chemicals company?
A good Operating Income depends on the Chemicals 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 Toda Kogyo and its competitors. Toda Kogyo's current Operating Income is 円866 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toda Kogyo stock overvalued right now?
Based on GuruFocus' analysis, Toda Kogyo (TSE:4100) is currently considered Fairly Valued. The stock's GF Value™ is 円1,394.38, compared to a current price of 円1,496.00 — trading 7.3% above its estimated fair value. The current Operating Income is 円866 Mil. Toda Kogyo's overall GF Score™ is 50/100 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 Toda Kogyo (TSE:4100), the current Operating Income is 円866 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 Toda Kogyo (TSE:4100) Overvalued in 2026?

Based on GuruFocus' analysis, Toda Kogyo stock appears to be overvalued. The current stock price of 円1,496.00 is trading 7.3% above its estimated GF Value™ of 円1,394.38. GuruFocus considers Toda Kogyo to be Fairly Valued.

Key valuation signals for TSE:4100:

  • Operating Income: 円866 Mil
  • GF Value™: 円1,394.38 vs. price of 円1,496.00 (7.3% above fair value)
  • GF Score™: 50/100 with 5 warning signs

No single metric tells the full story. See the TSE:4100 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Toda Kogyo Business Description

Address 1-23 Kyobashi-cho, Taiju Seimei Hiroshima Ekimae Building, 9th Floor, Minami-ku, Hiroshima, JPN, 732-0828
Toda Kogyo Corp trades in functional pigments and electronic materials. It offers electronic printing materials, such as toner materials for printers and copying machines, carriers for color printers and copying machines, and magnetic materials for printers and copying machines. It also provides electromagnetic compatibility/immunity solutions, including electric-wave absorber materials/electromagnetic interference. In addition, the firm offers lithium cobaltate, lithium-nickel oxide, and lithium manganate battery materials for personal computers, mobile phones. Additionally, it offers pigments for colored pavements, reflective pigments, and pigments for coatings and resins; and magnetic recording materials for digital recording media used with computers and videotapes for broadcasting.
50GF Score

Get the complete analysis for TSE:4100

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

円1,496.00
Price
円1,394.38
GF Value