ES-CON JAPAN (TSE:8892) Operating Income : 円16,843 Mil (TTM As of Dec. 2023)

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What is ES-CON JAPAN Operating Income?

ES-CON JAPAN's Operating Income for the three months ended in Dec. 2023 was 円8,754 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was 円16,843 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. ES-CON JAPAN's Operating Income for the three months ended in Dec. 2023 was 円8,754 Mil. ES-CON JAPAN's Revenue for the three months ended in Dec. 2023 was 円41,284 Mil. Therefore, ES-CON JAPAN's Operating Margin % for the quarter that ended in Dec. 2023 was 21.20%.

Warning Sign:

ES-CON JAPAN Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -5.4%.

ES-CON JAPAN's 5-Year average Growth Rate for Operating Margin % was -5.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. ES-CON JAPAN's annualized ROC % for the quarter that ended in Dec. 2023 was 7.28%. ES-CON JAPAN's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 11.92%.

ES-CON JAPAN Operating Income Historical Data

The historical data trend for ES-CON JAPAN'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.

* Premium members only.

ES-CON JAPAN Operating Income Chart

ES-CON JAPAN Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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12,917.00

12,207.00

10,386.00

15,495.00

16,843.00

ES-CON JAPAN Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															9,283.00	4,880.00	1,963.00	1,246.00	8,754.00

ES-CON JAPAN 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 Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was 円16,843 Mil.

ES-CON JAPAN (TSE:8892) Operating Income Explanation

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

ES-CON JAPAN's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	35016 * ( 1 - 32.48% )	/	( (319825	+	329562)	/ 2 )
=	23642.8032	/	324693.5
=	7.28 %

where

	Invested Capital		(Q: Sep. 2023 )
=	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	))
=	349581	-	493	-	( 29263	-	max(0, 104908	-	244277	+	29263	))
=	319825

	Invested Capital		(Q: Dec. 2023 )
=	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	))
=	370270	-	3108	-	( 37600	-	max(0, 88133	-	265202	+	37600	))
=	329562

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

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

ES-CON JAPAN's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	33548	/	( ( (75762 + max(200388, 0))	+	(75451 + max(211521, 0)) )	/	2 )
=	33548	/	( ( 276150	+	286972 )	/	2 )
=	33548	/	281561
=	11.92 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1012	+	199107	+	14895)	-	(493	+	0	+	14133)
=	200388

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(965	+	213509	+	13128)	-	(3108	+	0	+	12973)
=	211521

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

ES-CON JAPAN's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	8754	/	41284
	=	21.20 %

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.

ES-CON JAPAN Operating Income Related Terms

Thank you for viewing the detailed overview of ES-CON JAPAN's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

ES-CON JAPAN (TSE:8892) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Homebuilding & Construction » ES-CON JAPAN Ltd (TSE:8892) » Definitions » Operating Income

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Traded in Other Exchanges

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Address

4-2-5 Kanda-Surugadai, 12th Floor, Try Edge Ochanomizu, Chiyoda-ku, Tokyo, JPN, 101-0062

Website

http://www.es-conjapan.co.jp

ES-CON JAPAN Ltd. is a Japanese company engaged in real estate trading, leasing and property management and real estate planning and consulting business. The business areas of the company include hotel development, property management, condominiums and houses, real estate investment advisory and others.

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