KCE Electronics PCL (BKK:KCE-R) Degree of Operating Leverage : 3.13 (As of Mar. 2026)

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BKK:KCE-R KCE Electronics PCL BKK:KCE-R
68 GF Score
Price ฿24.00
GF Value ฿16.02
! 10 Warning Signs
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What is KCE Electronics PCL Degree of Operating Leverage?

KCE Electronics PCL BKK:KCE-R 68 Degree of Operating Leverage is 3.13 as of Mar. 2026. GuruFocus rates BKK:KCE-R with a GF Score™ of 68/100 and a GF Value™ of ฿16.02. The stock has 10 warning signs investors should review. Among 2,445 Hardware companies, KCE Electronics PCL ranks worse than 70.96% on this metric.

Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. KCE Electronics PCL's Degree of Operating Leverage for the quarter that ended in Mar. 2026 was 3.13. The higher Degree of Operating Leverage, the higher operating risk the company will take.

The industry rank for KCE Electronics PCL's Degree of Operating Leverage or its related term are showing as below:

BKK:KCE-R's Degree of Operating Leverage is ranked worse than
70.96% of 2445 companies
in the Hardware industry
Industry Median: 0.88 vs BKK:KCE-R: 3.13

KCE Electronics PCL  (BKK:KCE-R) Degree of Operating Leverage Explanation

Degree of Operating Leverage (DOL) is a leverage ratio that measures the sensitivity of a company’s operting income, also referred to as Earnings Before Interest and Taxes (EBIT), to fluctuations in its Revenue. DOL is a method used to quantify a company’s operating risk. This risk is related to the company's structure of variable costs and fixed costs. Since the fixed costs do not allow the company to adjust the operating costs, the operating risk rises with a higher fixed-to-variable costs proportion.

A high Degree of Operating Leverage indicates that the company’s fixed costs exceed its variable costs. By increasing the sales, the company can earn more profits. In addition, the company must be able to maintain relatively high sales to cover all fixed costs.

Be Aware

The use of operating leverage varies across different industries and business sectors, and the application of Degree of Operating Leverage (DOL) should be adjusted accordingly.


KCE Electronics PCL Degree of Operating Leverage Related Terms


KCE Electronics PCL Degree of Operating Leverage Historical Data

* Premium members only.

The historical data trend for KCE Electronics PCL's Degree of Operating Leverage 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.

KCE Electronics PCL Degree of Operating Leverage Chart

KCE Electronics PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Degree of Operating Leverage
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.78 -0.26 1.98 0.72 3.87

KCE Electronics PCL Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Degree of Operating Leverage 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 2.83 3.59 2.90 3.87 3.13

BKK:KCE-R vs APH, GLW, TEL: Degree of Operating Leverage Comparison

For the Electronic Components subindustry, KCE Electronics PCL's Degree of Operating Leverage, along with its competitors' market caps and Degree of Operating Leverage data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


KCE Electronics PCL Degree of Operating Leverage vs Hardware Industry

For the Hardware industry and Technology sector, KCE Electronics PCL's Degree of Operating Leverage distribution charts can be found below:

* The bar in red indicates where KCE Electronics PCL's Degree of Operating Leverage falls into.


BKK:KCE-R
68GF Score
KCE Electronics PCL BKK:KCE-R
Degree of Operating Leverage is just one metric. See GF Score™, valuation, warning signs, and more.
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KCE Electronics PCL Degree of Operating Leverage Calculation

KCE Electronics PCL's Degree of Operating Leverage for the quarter that ended in Mar. 2026 is calculated as:

Degree of Operating Leverage=% Change in EBIT**/% Change in Revenue
=( 1018.393 (Mar. 2026) / 1521.977 (Mar. 2025) - 1 )/( 12857.915 (Mar. 2026) / 14377.102 (Mar. 2025) - 1 )
=-0.3309/-0.1057
=3.13***

* 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.

** TTM data of EBIT and Revenue was used to calculate Degree of Operating Leverage.
*** Please be aware that the Degree of Operating Leverage calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.

What does a Degree of Operating Leverage of 3.13 mean?
KCE Electronics PCL (BKK:KCE-R) has a Degree of Operating Leverage of 3.13 as of Mar. 2026. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for KCE Electronics PCL and its competitors. According to the industry distribution chart, KCE Electronics PCL ranks #1735 out of 2445 companies in the Hardware industry, placing it in the top 71%.
Is KCE Electronics PCL's Degree of Operating Leverage too high?
KCE Electronics PCL's current Degree of Operating Leverage is 3.13. The Hardware industry median Degree of Operating Leverage is 0.88. KCE Electronics PCL's value of 3.13 is 255.7% above this industry median. Based on the distribution chart, KCE Electronics PCL ranks #1735 out of 2445 companies in the Hardware industry, which is below the industry midpoint. Overall, KCE Electronics PCL has a GF Score™ of 68/100, reflecting its overall financial health beyond just this single metric.
How does KCE Electronics PCL's Degree of Operating Leverage compare to APH and GLW?
According to the Hardware industry distribution chart, KCE Electronics PCL ranks #1735 out of 2445 companies for Degree of Operating Leverage. This places KCE Electronics PCL in the lower half of its industry. The industry median Degree of Operating Leverage is 0.88. KCE Electronics PCL's value of 3.13 is 255.7% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Degree of Operating Leverage for a Hardware company?
The median Degree of Operating Leverage among Hardware companies is 0.88, based on 2,445 companies in the industry. Companies in the top quartile (top 25%) have a Degree of Operating Leverage significantly above this median, while those in the bottom quartile fall well below. However, Degree of Operating Leverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. KCE Electronics PCL's current Degree of Operating Leverage of 3.13 is 255.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Degree of Operating Leverage mean?
A high Degree of Operating Leverage can signal that a stock is expensive relative to its fundamentals. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for KCE Electronics PCL and its competitors. For the Hardware industry, the median Degree of Operating Leverage is 0.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. KCE Electronics PCL's current Degree of Operating Leverage is 3.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KCE Electronics PCL stock overvalued right now?
KCE Electronics PCL (BKK:KCE-R) has a current Degree of Operating Leverage of 3.13. The stock's GF Value™ is ฿16.02, compared to a current price of ฿24.00 — trading 49.8% above its estimated fair value. The current Degree of Operating Leverage is 3.13 and 255.7% above the Hardware industry median of 0.88. KCE Electronics PCL's overall GF Score™ is 68/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Degree of Operating Leverage calculated?
Degree of Operating Leverage is calculated from a company's financial statements. For KCE Electronics PCL (BKK:KCE-R), the current Degree of Operating Leverage is 3.13 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 KCE Electronics PCL (BKK:KCE-R) Overvalued in 2026?

Based on GuruFocus' analysis, KCE Electronics PCL stock appears to be overvalued. The current stock price of ฿24.00 is trading 49.8% above its estimated GF Value™ of ฿16.02.

Key valuation signals for BKK:KCE-R:

  • Degree of Operating Leverage: 3.13
  • GF Value™: ฿16.02 vs. price of ฿24.00 (49.8% above fair value)
  • GF Score™: 68/100 with 10 warning signs
  • Industry Position: 255.7% above the Hardware median (#1735 of 2445)

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


KCE Electronics PCL Business Description

Address No. 72-72/1-3 Soi Chalongkrung 31, Kwang Lumplatew, Khet Lat Krabang, Bangkok, THA, 10520
KCE Electronics PCL and its subsidiaries manufacture and distribute printed circuit boards. The company is based in Thailand but earns the majority of its revenue internationally. It has three segments: Manufacturing and distributing of Prepreg and Laminate; Manufacturing and distributing of Printed Circuit Board; and Manufacturing and distributing of Chemical. The company manufactures printed circuit boards that are used in a variety of industries, including automotive, computer, industrial, and telecommunications systems. The company also manufactures and distributes chemicals and laminate products. The majority of its revenue is earned in Europe.
68GF Score

Get the complete analysis for BKK:KCE-R

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

฿24.00
Price
฿16.02
GF Value