House Foods Group (TSE:2810) Operating Income : 円19,470 Mil (TTM As of Dec. 2023)

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What is House Foods Group Operating Income?

House Foods Group's Operating Income for the three months ended in Dec. 2023 was 円8,602 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was 円19,470 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. House Foods Group's Operating Income for the three months ended in Dec. 2023 was 円8,602 Mil. House Foods Group's Revenue for the three months ended in Dec. 2023 was 円82,873 Mil. Therefore, House Foods Group's Operating Margin % for the quarter that ended in Dec. 2023 was 10.38%.

Good Sign:

House Foods Group Inc operating margin is expanding. Margin expansion is usually a good sign.

House Foods Group's 5-Year average Growth Rate for Operating Margin % was 0.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. House Foods Group's annualized ROC % for the quarter that ended in Dec. 2023 was 7.64%. House Foods Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 24.04%.

House Foods Group Operating Income Historical Data

The historical data trend for House Foods Group'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.

House Foods Group Operating Income Chart

House Foods Group Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Operating Income

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19,005.00

19,414.00

19,227.00

16,631.00

19,470.00

House Foods Group Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Operating Income	Get a 7-Day Free Trial															2,307.00	4,913.00	3,154.00	8,602.00	2,801.00

House Foods Group 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19,470 Mil.

House Foods Group (TSE:2810) Operating Income Explanation

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

House Foods Group'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 )
=	34408 * ( 1 - 30.12% )	/	( (308397	+	321042)	/ 2 )
=	24044.3104	/	314719.5
=	7.64 %

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	))
=	415544	-	34709	-	( 72438	-	max(0, 58700	-	161321	+	72438	))
=	308397

	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	))
=	428633	-	35958	-	( 71633	-	max(0, 62362	-	169773	+	71633	))
=	321042

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

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

House Foods Group'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 )
=	35036	/	( ( (106221 + max(36066, 0))	+	(106367 + max(42816, 0)) )	/	2 )
=	35036	/	( ( 142287	+	149183 )	/	2 )
=	35036	/	145735
=	24.04 %

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)
=	(53007	+	30559	+	5317)	-	(34709	+	0	+	18108)
=	36066

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(61998	+	30839	+	5303)	-	(35958	+	0	+	19366)
=	42816

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 %:

House Foods Group'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 )
	=	8602	/	82873
	=	10.38 %

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.

House Foods Group Operating Income Related Terms

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House Foods Group (TSE:2810) Business Description

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GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » House Foods Group Inc (TSE:2810) » Definitions » Operating Income

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Address

6-3 Kioicho, Chiyoda-ward, Tokyo, JPN, 102-8560

Website

https://www.housefoods.jp

House Foods Group Inc is a Japan-based company which produces and sells processed foods including curry roux, and spices. It also diversifies into snacks, instant noodles, and retort pouch products. The company's segments include Spice / Seasoning / Processed Food Business, Health Food Business, International Food Business. The Spice / Seasoning / Processed Food Business contributes to the majority of the company's revenue.

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