Greenland Resort Co (TSE:9656) Operating Income: 円687 Mil (TTM As of Dec. 2025)

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TSE:9656 Greenland Resort Co Ltd TSE:9656
60 GF Score
Price 円597.00
GF Value 円649.28
Valuation Fairly Valued
! 3 Warning Signs
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What is Greenland Resort Co Operating Income?

Greenland Resort Co TSE:9656 -0.50% 60 Operating Income is 円687 Mil as of Dec. 2025. GuruFocus rates TSE:9656 with a GF Score™ of 60/100 and a GF Value™ of 円649.28 (Fairly Valued). The stock has 3 warning signs investors should review.

Greenland Resort Co's Operating Income for the three months ended in Dec. 2025 was 円223 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was 円687 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Greenland Resort Co's Operating Income for the three months ended in Dec. 2025 was 円223 Mil. Greenland Resort Co's Revenue for the three months ended in Dec. 2025 was 円1,682 Mil. Therefore, Greenland Resort Co's Operating Margin % for the quarter that ended in Dec. 2025 was 13.28%.

Greenland Resort Co'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. Greenland Resort Co's annualized ROC % for the quarter that ended in Dec. 2025 was 2.83%. Greenland Resort Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 4.30%.


Greenland Resort Co  (TSE:9656) Operating Income Explanation

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

Greenland Resort Co's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=893.496 * ( 1 - 25.18% )/( (23653.56 + 23588.823)/ 2 )
=668.5137072/23621.1915
=2.83 %

where

Invested Capital(Q: Sep. 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))
=19997.444 - 497.072 - ( 362.793 - max(0, 5052.231 - 899.043+362.793))
=23653.56

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))
=20104.804 - 644.055 - ( 506.757 - max(0, 5152.766 - 1024.692+506.757))
=23588.823

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

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

Greenland Resort Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=771.332/( ( (17929.479 + max(-197.423, 0)) + (17904.852 + max(-318.715, 0)) )/ 2 )
=771.332/( ( 17929.479 + 17904.852 )/ 2 )
=771.332/17917.1655
=4.30 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(297.742 + 115.704 + 122.804) - (497.072 + 0 + 236.601)
=-197.423

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(311.894 + 116.535 + 89.506) - (644.055 + 0 + 192.595)
=-318.715

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

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

Greenland Resort Co's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=223.374/1681.997
=13.28 %

* 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.


Greenland Resort Co Operating Income Related Terms


Greenland Resort Co Operating Income Historical Data

* Premium members only.

The historical data trend for Greenland Resort 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.

Greenland Resort Co Operating Income Chart

Greenland Resort Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 34.98 763.73 888.96 774.69 735.34

Greenland Resort Co Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 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 84.97 192.19 234.80 223.37 36.35
TSE:9656
60GF Score
Greenland Resort Co Ltd TSE:9656
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Greenland Resort 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 Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was 円687 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687 Mil mean?
Greenland Resort Co (TSE:9656) has a Operating Income of 円687 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Greenland Resort Co and its competitors.
Is Greenland Resort Co's Operating Income too high?
Greenland Resort Co's current Operating Income is 円687 Mil. Overall, Greenland Resort Co has a GF Score™ of 60/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Greenland Resort Co's Operating Income compare to LVS and MGM?
Greenland Resort Co's Operating Income of 円687 Mil can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Operating Income depends on the Travel & Leisure 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 Greenland Resort Co and its competitors. Greenland Resort Co's current Operating Income is 円687 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Greenland Resort Co stock overvalued right now?
Based on GuruFocus' analysis, Greenland Resort Co (TSE:9656) is currently considered Fairly Valued. The stock's GF Value™ is 円649.28, compared to a current price of 円597.00 — trading 8.1% below its estimated fair value. The current Operating Income is 円687 Mil. Greenland Resort Co's overall GF Score™ is 60/100 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 Greenland Resort Co (TSE:9656), the current Operating Income is 円687 Mil as of Dec. 2025. 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 Greenland Resort Co (TSE:9656) Overvalued in 2026?

Based on GuruFocus' analysis, Greenland Resort Co stock appears to be undervalued. The current stock price of 円597.00 is trading 8.1% below its estimated GF Value™ of 円649.28. GuruFocus considers Greenland Resort Co to be Fairly Valued.

Key valuation signals for TSE:9656:

  • Operating Income: 円687 Mil
  • GF Value™: 円649.28 vs. price of 円597.00 (8.1% below fair value)
  • GF Score™: 60/100 with 3 warning signs

No single metric tells the full story. See the TSE:9656 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Greenland Resort Co Business Description

Address 1616 Shimoide, Kumamoto Prefecture, Arao, JPN, 864-8691
Greenland Resort Co Ltd is a Japan-based company engaged in the leisure business. The group primarily engages in the management and operation of amusement parks, hotels, golf courses, and related facilities. Its core business segments include the amusement park business, golf business, hotel business, real estate business, and civil engineering and construction. It also offers tourism services and manages restaurants and sports facilities.
60GF Score

Get the complete analysis for TSE:9656

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

円597.00
Price
円649.28
GF Value