Noevir Holdings Co (TSE:4928) Operating Income: 円9,900 Mil (TTM As of Mar. 2026)

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TSE:4928 Noevir Holdings Co Ltd TSE:4928
88 GF Score
Price 円4,830.00
GF Value 円4,974.20
Valuation Fairly Valued
! 2 Warning Signs
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What is Noevir Holdings Co Operating Income?

Noevir Holdings Co TSE:4928 -0.21% 88 Operating Income is 円9,900 Mil as of Mar. 2026. GuruFocus rates TSE:4928 with a GF Score™ of 88/100 and a GF Value™ of 円4,974.20 (Fairly Valued). The stock has 2 warning signs investors should review.

Noevir Holdings Co's Operating Income for the three months ended in Mar. 2026 was 円2,282 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円9,900 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Noevir Holdings Co's Operating Income for the three months ended in Mar. 2026 was 円2,282 Mil. Noevir Holdings Co's Revenue for the three months ended in Mar. 2026 was 円15,149 Mil. Therefore, Noevir Holdings Co's Operating Margin % for the quarter that ended in Mar. 2026 was 15.06%.

Good Sign:

Noevir Holdings Co Ltd operating margin is expanding. Margin expansion is usually a good sign.

Noevir Holdings Co's 5-Year average Growth Rate for Operating Margin % was 2.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Noevir Holdings Co's annualized ROC % for the quarter that ended in Mar. 2026 was 13.78%. Noevir Holdings Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 28.23%.


Noevir Holdings Co  (TSE:4928) Operating Income Explanation

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

Noevir Holdings 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 )
=9128 * ( 1 - 38.91% )/( (40379 + 40525)/ 2 )
=5576.2952/40452
=13.78 %

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:

Noevir Holdings 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 )
=9128/( ( (20910 + max(11205, 0)) + (20594 + max(11955, 0)) )/ 2 )
=9128/( ( 32115 + 32549 )/ 2 )
=9128/32332
=28.23 %

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)
=(10250 + 8360 + 2528) - (7562 + 0 + 2371)
=11205

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(10693 + 9097 + 2175) - (7788 + 0 + 2222)
=11955

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 %:

Noevir Holdings 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 )
=2282/15149
=15.06 %

* 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.


Noevir Holdings Co Operating Income Related Terms


Noevir Holdings Co Operating Income Historical Data

* Premium members only.

The historical data trend for Noevir Holdings 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.

Noevir Holdings Co Operating Income Chart

Noevir Holdings Co Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8,561.00 10,118.00 11,027.00 11,426.00 11,078.00

Noevir Holdings Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 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 2,539.00 2,297.00 3,069.00 2,252.00 2,282.00
TSE:4928
88GF Score
Noevir Holdings Co Ltd TSE:4928
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Noevir Holdings 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9,900 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9,900 Mil mean?
Noevir Holdings Co (TSE:4928) has a Operating Income of 円9,900 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Noevir Holdings Co and its competitors.
Is Noevir Holdings Co's Operating Income too high?
Noevir Holdings Co's current Operating Income is 円9,900 Mil. Overall, Noevir Holdings Co has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Noevir Holdings Co's Operating Income compare to PG and CL?
Noevir Holdings Co's Operating Income of 円9,900 Mil can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Operating Income depends on the Consumer Packaged Goods 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 Noevir Holdings Co and its competitors. Noevir Holdings Co's current Operating Income is 円9,900 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Noevir Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Noevir Holdings Co (TSE:4928) is currently considered Fairly Valued. The stock's GF Value™ is 円4,974.20, compared to a current price of 円4,830.00 — trading 2.9% below its estimated fair value. The current Operating Income is 円9,900 Mil. Noevir Holdings Co's overall GF Score™ is 88/100 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 Noevir Holdings Co (TSE:4928), the current Operating Income is 円9,900 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 Noevir Holdings Co (TSE:4928) Overvalued in 2026?

Based on GuruFocus' analysis, Noevir Holdings Co stock appears to be undervalued. The current stock price of 円4,830.00 is trading 2.9% below its estimated GF Value™ of 円4,974.20. GuruFocus considers Noevir Holdings Co to be Fairly Valued.

Key valuation signals for TSE:4928:

  • Operating Income: 円9,900 Mil
  • GF Value™: 円4,974.20 vs. price of 円4,830.00 (2.9% below fair value)
  • GF Score™: 88/100 with 2 warning signs

No single metric tells the full story. See the TSE:4928 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Noevir Holdings Co Business Description

Address 13-1, Minatojima Nakamachi 6-chome, Chuo-ku, Kobe, JPN, 650-8521
Noevir Holdings Co Ltd is a Japan-based company that is principally engaged in two businesses: cosmetics and pharmaceuticals and health food. The cosmetics business produces and offers skincare and makeup products under a number of brands, like Noevir, NOV, and Sana. The pharmaceuticals and health food business develops, produces, and sells a broad range-of-products, including Nanten Nodo Ame cough drops, functional drinks, and other over-the-counter pharmaceuticals, such as cold remedies and eye drops, and health food products as well. These two businesses jointly contribute the majority of the company's revenue. The company also operates apparel and aircraft sales and leasing. The company has a presence in many countries across the world and focuses on developing Asian markets.
88GF Score

Get the complete analysis for TSE:4928

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

円4,830.00
Price
円4,974.20
GF Value