MORIO DENKI Co (TSE:6647) Operating Income: 円1,009 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:6647 MORIO DENKI Co Ltd TSE:6647
65 GF Score
Price 円3,270.00
GF Value 円2,009.01
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is MORIO DENKI Co Operating Income?

MORIO DENKI Co TSE:6647 +0.77% 65 Operating Income is 円1,009 Mil as of Mar. 2026. GuruFocus rates TSE:6647 with a GF Score™ of 65/100 and a GF Value™ of 円2,009.01 (Significantly Overvalued). The stock has 5 warning signs investors should review.

MORIO DENKI Co's Operating Income for the three months ended in Mar. 2026 was 円442 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円1,009 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. MORIO DENKI Co's Operating Income for the three months ended in Mar. 2026 was 円442 Mil. MORIO DENKI Co's Revenue for the three months ended in Mar. 2026 was 円2,802 Mil. Therefore, MORIO DENKI Co's Operating Margin % for the quarter that ended in Mar. 2026 was 15.77%.

Good Sign:

MORIO DENKI Co Ltd operating margin is expanding. Margin expansion is usually a good sign.

MORIO DENKI Co's 5-Year average Growth Rate for Operating Margin % was 21.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. MORIO DENKI Co's annualized ROC % for the quarter that ended in Mar. 2026 was 18.15%. MORIO DENKI Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 36.81%.


MORIO DENKI Co  (TSE:6647) Operating Income Explanation

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

MORIO DENKI 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 )
=1767.972 * ( 1 - 21% )/( (7513.556 + 7878.184)/ 2 )
=1396.69788/7695.87
=18.15 %

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))
=9101.562 - 674.962 - ( 913.044 - max(0, 2700.146 - 5545.582+913.044))
=7513.556

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))
=9548.432 - 769.262 - ( 900.986 - max(0, 2805.037 - 5949.286+900.986))
=7878.184

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

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

MORIO DENKI 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 )
=1755.444/( ( (1561.31 + max(2800.668, 0)) + (1549.572 + max(3626.621, 0)) )/ 2 )
=1755.444/( ( 4361.978 + 5176.193 )/ 2 )
=1755.444/4769.0855
=36.81 %

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)
=(1199.751 + 3021.796 + 410.991) - (674.962 + 0 + 1156.908)
=2800.668

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1522.17 + 3072.417 + 453.713) - (769.262 + 0 + 652.417)
=3626.621

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 %:

MORIO DENKI 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 )
=441.993/2802.269
=15.77 %

* 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.


MORIO DENKI Co Operating Income Related Terms


MORIO DENKI Co Operating Income Historical Data

* Premium members only.

The historical data trend for MORIO DENKI 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.

MORIO DENKI Co Operating Income Chart

MORIO DENKI Co 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 452.13 274.94 342.49 735.63 856.26

MORIO DENKI Co 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 127.65 -40.75 327.37 441.99 280.05
TSE:6647
65GF Score
MORIO DENKI Co Ltd TSE:6647
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

MORIO DENKI 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1,009 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1,009 Mil mean?
MORIO DENKI Co (TSE:6647) has a Operating Income of 円1,009 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on MORIO DENKI Co and its competitors.
Is MORIO DENKI Co's Operating Income too high?
MORIO DENKI Co's current Operating Income is 円1,009 Mil. Overall, MORIO DENKI Co has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does MORIO DENKI Co's Operating Income compare to VRT and BE?
MORIO DENKI Co's Operating Income of 円1,009 Mil can be compared against companies in the Industrial Products 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 an Industrial Products company?
A good Operating Income depends on the Industrial Products 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 MORIO DENKI Co and its competitors. MORIO DENKI Co's current Operating Income is 円1,009 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MORIO DENKI Co stock overvalued right now?
Based on GuruFocus' analysis, MORIO DENKI Co (TSE:6647) is currently considered Significantly Overvalued. The stock's GF Value™ is 円2,009.01, compared to a current price of 円3,270.00 — trading 62.8% above its estimated fair value. The current Operating Income is 円1,009 Mil. MORIO DENKI Co's overall GF Score™ is 65/100 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 MORIO DENKI Co (TSE:6647), the current Operating Income is 円1,009 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 MORIO DENKI Co (TSE:6647) Overvalued in 2026?

Based on GuruFocus' analysis, MORIO DENKI Co stock appears to be overvalued. The current stock price of 円3,270.00 is trading 62.8% above its estimated GF Value™ of 円2,009.01. GuruFocus considers MORIO DENKI Co to be Significantly Overvalued.

Key valuation signals for TSE:6647:

  • Operating Income: 円1,009 Mil
  • GF Value™: 円2,009.01 vs. price of 円3,270.00 (62.8% above fair value)
  • GF Score™: 65/100 with 5 warning signs

No single metric tells the full story. See the TSE:6647 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


MORIO DENKI Co Business Description

Address 4-34-1, Tateishi, Katsushika-ku, Tokyo, JPN, 125-0062
MORIO DENKI Co Ltd is an electrical equipment manufacturer. The company supplies various kinds of electric and electronic equipment for public transportation uses, such as rolling stock component parts at the core, traffic information display system, and electric equipment for ships.
65GF Score

Get the complete analysis for TSE:6647

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

円3,270.00
Price
円2,009.01
GF Value