Unbanked (TSE:8746) Operating Income: 円-2,792 Mil (TTM As of Mar. 2026)

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TSE:8746 Unbanked Inc TSE:8746
41 GF Score
Price 円102.00
GF Value 円450.79
Valuation Possible Value Trap
! 6 Warning Signs
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What is Unbanked Operating Income?

Unbanked TSE:8746 -2.86% 41 Operating Income is 円-2,792 Mil as of Mar. 2026. GuruFocus rates TSE:8746 with a GF Score™ of 41/100 and a GF Value™ of 円450.79 (Possible Value Trap). The stock has 6 warning signs investors should review.

Unbanked's Operating Income for the three months ended in Mar. 2026 was 円-2,054 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円-2,792 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Unbanked's Operating Income for the three months ended in Mar. 2026 was 円-2,054 Mil. Unbanked's Revenue for the three months ended in Mar. 2026 was 円1,542 Mil. Therefore, Unbanked's Operating Margin % for the quarter that ended in Mar. 2026 was -133.20%.

Unbanked'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. Unbanked's annualized ROC % for the quarter that ended in Mar. 2026 was -27.87%. Unbanked's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -461.44%.


Unbanked  (TSE:8746) Operating Income Explanation

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

Unbanked'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 )
=-8216 * ( 1 - 0% )/( (34113 + 24850)/ 2 )
=-8216/29481.5
=-27.87 %

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:

Unbanked'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 )
=-5828/( ( (1534 + max(-23748, 0)) + (992 + max(-19351, 0)) )/ 2 )
=-5828/( ( 1534 + 992 )/ 2 )
=-5828/1263
=-461.44 %

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)
=(1348 + 3177 + 3412) - (207 + 0 + 31478)
=-23748

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 2616 + 1172) - (59 + 0 + 23080)
=-19351

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 %:

Unbanked'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 )
=-2054/1542
=-133.20 %

* 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.


Unbanked Operating Income Related Terms


Unbanked Operating Income Historical Data

* Premium members only.

The historical data trend for Unbanked'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.

Unbanked Operating Income Chart

Unbanked 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 -586.98 -243.51 -149.61 188.00 -2,792.00

Unbanked Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 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 0.00 122.66 120.34 -981.00 -2,054.00
TSE:8746
41GF Score
Unbanked Inc TSE:8746
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Unbanked 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-2,792 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-2,792 Mil mean?
Unbanked (TSE:8746) has a Operating Income of 円-2,792 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Unbanked and its competitors.
Is Unbanked's Operating Income too high?
Unbanked's current Operating Income is 円-2,792 Mil. Overall, Unbanked has a GF Score™ of 41/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Unbanked's Operating Income compare to MS and GS?
Unbanked's Operating Income of 円-2,792 Mil can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Operating Income depends on the Capital Markets 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 Unbanked and its competitors. Unbanked's current Operating Income is 円-2,792 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Unbanked stock overvalued right now?
Based on GuruFocus' analysis, Unbanked (TSE:8746) is currently considered Possible Value Trap. The stock's GF Value™ is 円450.79, compared to a current price of 円102.00 — trading 77.4% below its estimated fair value. The current Operating Income is 円-2,792 Mil. Unbanked's overall GF Score™ is 41/100 with 6 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 Unbanked (TSE:8746), the current Operating Income is 円-2,792 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 Unbanked (TSE:8746) Overvalued in 2026?

Based on GuruFocus' analysis, Unbanked stock appears to be undervalued. The current stock price of 円102.00 is trading 77.4% below its estimated GF Value™ of 円450.79. GuruFocus considers Unbanked to be Possible Value Trap.

Key valuation signals for TSE:8746:

  • Operating Income: 円-2,792 Mil
  • GF Value™: 円450.79 vs. price of 円102.00 (77.4% below fair value)
  • GF Score™: 41/100 with 6 warning signs

No single metric tells the full story. See the TSE:8746 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Unbanked Business Description

Address Ebisu First Square 9th Floor, 1-18-14 Ebisu, Shibuya-ku, Tokyo, JPN
Unbanked Inc provides commodity futures trading services. It trades for its own account and clients. It also engages in commodity fund business, foreign exchange trading and sale of precious metals.
41GF Score

Get the complete analysis for TSE:8746

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

円102.00
Price
円450.79
GF Value