Fujikura Composites (TSE:5121) Operating Income: 円4,839 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:5121 Fujikura Composites Inc TSE:5121
78 GF Score
Price 円2,755.00
GF Value 円1,789.86
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is Fujikura Composites Operating Income?

Fujikura Composites TSE:5121 -1.22% 78 Operating Income is 円4,839 Mil as of Mar. 2026. GuruFocus rates TSE:5121 with a GF Score™ of 78/100 and a GF Value™ of 円1,789.86 (Significantly Overvalued). The stock has 3 warning signs investors should review.

Fujikura Composites's Operating Income for the three months ended in Mar. 2026 was 円1,269 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円4,839 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Fujikura Composites's Operating Income for the three months ended in Mar. 2026 was 円1,269 Mil. Fujikura Composites's Revenue for the three months ended in Mar. 2026 was 円10,367 Mil. Therefore, Fujikura Composites's Operating Margin % for the quarter that ended in Mar. 2026 was 12.24%.

Good Sign:

Fujikura Composites Inc operating margin is expanding. Margin expansion is usually a good sign.

Fujikura Composites's 5-Year average Growth Rate for Operating Margin % was 16.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Fujikura Composites's annualized ROC % for the quarter that ended in Mar. 2026 was 12.87%. Fujikura Composites's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 20.30%.


Fujikura Composites  (TSE:5121) Operating Income Explanation

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

Fujikura Composites'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 )
=5077.504 * ( 1 - 8.63% )/( (35127.06 + 36967.436)/ 2 )
=4639.3154048/36047.248
=12.87 %

where

Invested Capital(Q: Dec. 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))
=47727.25 - 1597.28 - ( 11002.91 - max(0, 6018.918 - 28918.447+11002.91))
=35127.06

Invested Capital(Q: Mar. 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))
=50690.143 - 1843.706 - ( 11879.001 - max(0, 6246.126 - 29869.541+11879.001))
=36967.436

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

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

Fujikura Composites'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 )
=5315.928/( ( (13369.964 + max(12696.619, 0)) + (13769.2 + max(12544.414, 0)) )/ 2 )
=5315.928/( ( 26066.583 + 26313.614 )/ 2 )
=5315.928/26190.0985
=20.30 %

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)
=(6091.25 + 7331.053 + 4493.234) - (1597.28 + 0 + 3621.638)
=12696.619

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(6691.593 + 6733.369 + 4565.578) - (1843.706 + 0 + 3602.42)
=12544.414

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 %:

Fujikura Composites'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 )
=1269.376/10367.013
=12.24 %

* 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.


Fujikura Composites Operating Income Related Terms


Fujikura Composites Operating Income Historical Data

* Premium members only.

The historical data trend for Fujikura Composites'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.

Fujikura Composites Operating Income Chart

Fujikura Composites 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 4,160.59 4,432.21 3,624.57 4,621.52 4,838.51

Fujikura Composites Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Sep24 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 0.00 1,507.30 1,177.29 884.55 1,269.38
TSE:5121
78GF Score
Fujikura Composites Inc TSE:5121
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Fujikura Composites 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4,839 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4,839 Mil mean?
Fujikura Composites (TSE:5121) has a Operating Income of 円4,839 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Fujikura Composites and its competitors.
Is Fujikura Composites' Operating Income too high?
Fujikura Composites' current Operating Income is 円4,839 Mil. Overall, Fujikura Composites has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fujikura Composites' Operating Income compare to ORLY and AZO?
Fujikura Composites' Operating Income of 円4,839 Mil can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good Operating Income depends on the Vehicles & Parts 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 Fujikura Composites and its competitors. Fujikura Composites's current Operating Income is 円4,839 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fujikura Composites stock overvalued right now?
Based on GuruFocus' analysis, Fujikura Composites (TSE:5121) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,789.86, compared to a current price of 円2,755.00 — trading 53.9% above its estimated fair value. The current Operating Income is 円4,839 Mil. Fujikura Composites' overall GF Score™ is 78/100 with 3 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 Fujikura Composites (TSE:5121), the current Operating Income is 円4,839 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 Fujikura Composites (TSE:5121) Overvalued in 2026?

Based on GuruFocus' analysis, Fujikura Composites stock appears to be overvalued. The current stock price of 円2,755.00 is trading 53.9% above its estimated GF Value™ of 円1,789.86. GuruFocus considers Fujikura Composites to be Significantly Overvalued.

Key valuation signals for TSE:5121:

  • Operating Income: 円4,839 Mil
  • GF Value™: 円1,789.86 vs. price of 円2,755.00 (53.9% above fair value)
  • GF Score™: 78/100 with 3 warning signs

No single metric tells the full story. See the TSE:5121 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Fujikura Composites Business Description

Address 8-4-13 Nishigotanda, 4th Floor, Gotanda JP Building, Shinagawa-ku, Tokyo, JPN, 141-0031
Fujikura Composites Inc operates in industrial rubber parts industry. It also engages in a wide range of business activities, including the manufacture and sale of pneumatic control equipment, vibration isolation tables and related equipment, electrical and electronic equipment, industrial materials such as rescue equipment, and carbon golf shafts. It operates in four divisions namely Industrial Goods, Electric & Electronic Materials, Control Equipment, Medical, Rubber-Coated Fabric, Processed Goods, Sporting Goods, Outdoor, and R&D.
78GF Score

Get the complete analysis for TSE:5121

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

円2,755.00
Price
円1,789.86
GF Value