Harima Chemicals Group (TSE:4410) Operating Income: 円3,833 Mil (TTM As of Mar. 2026)

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TSE:4410 Harima Chemicals Group Inc TSE:4410
69 GF Score
Price 円1,127.00
GF Value 円975.47
Valuation Modestly Overvalued
! 8 Warning Signs
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What is Harima Chemicals Group Operating Income?

Harima Chemicals Group TSE:4410 +0.99% 69 Operating Income is 円3,833 Mil as of Mar. 2026. GuruFocus rates TSE:4410 with a GF Score™ of 69/100 and a GF Value™ of 円975.47 (Modestly Overvalued). The stock has 8 warning signs investors should review.

Harima Chemicals Group's Operating Income for the three months ended in Mar. 2026 was 円624 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円3,833 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Harima Chemicals Group's Operating Income for the three months ended in Mar. 2026 was 円624 Mil. Harima Chemicals Group's Revenue for the three months ended in Mar. 2026 was 円25,859 Mil. Therefore, Harima Chemicals Group's Operating Margin % for the quarter that ended in Mar. 2026 was 2.41%.

Harima Chemicals Group'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. Harima Chemicals Group's annualized ROC % for the quarter that ended in Mar. 2026 was 2.75%. Harima Chemicals Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.88%.


Harima Chemicals Group  (TSE:4410) Operating Income Explanation

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

Harima Chemicals Group'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 )
=2496 * ( 1 - 3.26% )/( (88682 + 86863)/ 2 )
=2414.6304/87772.5
=2.75 %

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:

Harima Chemicals Group'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 )
=3120/( ( (32322 + max(33317, 0)) + (33783 + max(28451, 0)) )/ 2 )
=3120/( ( 65639 + 62234 )/ 2 )
=3120/63936.5
=4.88 %

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)
=(24600 + 23426 + 2407) - (9646 + 0 + 7470)
=33317

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(20668 + 24051 + 2388) - (9759 + 0 + 8897)
=28451

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 %:

Harima Chemicals Group'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 )
=624/25859
=2.41 %

* 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.


Harima Chemicals Group Operating Income Related Terms


Harima Chemicals Group Operating Income Historical Data

* Premium members only.

The historical data trend for Harima Chemicals Group'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.

Harima Chemicals Group Operating Income Chart

Harima Chemicals Group 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 3,250.90 1,709.00 -209.00 2,087.00 3,287.00

Harima Chemicals Group Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 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 761.00 873.00 1,029.00 624.00 1,307.00
TSE:4410
69GF Score
Harima Chemicals Group Inc TSE:4410
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Harima Chemicals Group 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3,833 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3,833 Mil mean?
Harima Chemicals Group (TSE:4410) has a Operating Income of 円3,833 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Harima Chemicals Group and its competitors.
Is Harima Chemicals Group's Operating Income too high?
Harima Chemicals Group's current Operating Income is 円3,833 Mil. Overall, Harima Chemicals Group has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Harima Chemicals Group's Operating Income compare to LIN and SHW?
Harima Chemicals Group's Operating Income of 円3,833 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 Harima Chemicals Group and its competitors. Harima Chemicals Group's current Operating Income is 円3,833 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harima Chemicals Group stock overvalued right now?
Based on GuruFocus' analysis, Harima Chemicals Group (TSE:4410) is currently considered Modestly Overvalued. The stock's GF Value™ is 円975.47, compared to a current price of 円1,127.00 — trading 15.5% above its estimated fair value. The current Operating Income is 円3,833 Mil. Harima Chemicals Group's overall GF Score™ is 69/100 with 8 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 Harima Chemicals Group (TSE:4410), the current Operating Income is 円3,833 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 Harima Chemicals Group (TSE:4410) Overvalued in 2026?

Based on GuruFocus' analysis, Harima Chemicals Group stock appears to be overvalued. The current stock price of 円1,127.00 is trading 15.5% above its estimated GF Value™ of 円975.47. GuruFocus considers Harima Chemicals Group to be Modestly Overvalued.

Key valuation signals for TSE:4410:

  • Operating Income: 円3,833 Mil
  • GF Value™: 円975.47 vs. price of 円1,127.00 (15.5% above fair value)
  • GF Score™: 69/100 with 8 warning signs

No single metric tells the full story. See the TSE:4410 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Harima Chemicals Group Business Description

Address 3 - chome Nihonbashi 3 - chome Chuo - ku, Tokyo, JPN, 103-0027
Harima Chemicals Group Inc is a Japan-based chemical manufacturer. The company is mainly engaged in chemical products business, papermaking chemical business, and electronic materials business. Products offered by the company include resins for printing ink, paint, resin for adhesive and adhesive, emulsifier for synthetic rubber, sizing agent, paper strength enhancer, and coating agent. Electronic materials business develops, manufacture and sell conductive paste, brazing material for aluminum and printed wiring board related materials. Harima has a world-wide network with presence in Europe, Asia, Oceania, North America, and South America.
69GF Score

Get the complete analysis for TSE:4410

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

円1,127.00
Price
円975.47
GF Value