Netbay PCL (BKK:NETBAY) Degree of Operating Leverage : -0.66 (As of Mar. 2026)

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BKK:NETBAY Netbay PCL BKK:NETBAY
87 GF Score
Price ฿14.20
GF Value ฿21.10
Valuation Significantly Undervalued
! 3 Warning Signs
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What is Netbay PCL Degree of Operating Leverage?

Netbay PCL BKK:NETBAY -3.40% 87 Degree of Operating Leverage is -0.66 as of Mar. 2026. GuruFocus rates BKK:NETBAY with a GF Score™ of 87/100 and a GF Value™ of ฿21.10 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,699 Software companies, Netbay PCL ranks better than 66.25% on this metric.

Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. Netbay PCL's Degree of Operating Leverage for the quarter that ended in Mar. 2026 was -0.66. The higher Degree of Operating Leverage, the higher operating risk the company will take.

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

BKK:NETBAY's Degree of Operating Leverage is ranked better than
66.25% of 2699 companies
in the Software industry
Industry Median: 0.6 vs BKK:NETBAY: -0.66

Netbay PCL  (BKK:NETBAY) 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.


Netbay PCL Degree of Operating Leverage Related Terms


Netbay PCL Degree of Operating Leverage Historical Data

* Premium members only.

The historical data trend for Netbay 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.

Netbay PCL Degree of Operating Leverage Chart

Netbay 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 6.55 0.92 0.75 1.10 0.88

Netbay 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 1.17 1.09 1.06 0.88 -0.66

BKK:NETBAY vs UBER, SHOP, CRM: Degree of Operating Leverage Comparison

For the Software - Application subindustry, Netbay 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.


Netbay PCL Degree of Operating Leverage vs Software Industry

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

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


BKK:NETBAY
87GF Score
Netbay PCL BKK:NETBAY
Degree of Operating Leverage is just one metric. See GF Score™, valuation, warning signs, and more.
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Netbay PCL Degree of Operating Leverage Calculation

Netbay 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
=( 286.83 (Mar. 2026) / 303.079 (Mar. 2025) - 1 )/( 684.977 (Mar. 2026) / 633.852 (Mar. 2025) - 1 )
=-0.0536/0.0807
=-0.66***

* 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 -0.66 mean?
Netbay PCL (BKK:NETBAY) has a Degree of Operating Leverage of -0.66 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 Netbay PCL and its competitors. According to the industry distribution chart, Netbay PCL ranks #911 out of 2699 companies in the Software industry, placing it in the top 33.8%.
Is Netbay PCL's Degree of Operating Leverage too high?
Netbay PCL's current Degree of Operating Leverage is -0.66. Based on the distribution chart, Netbay PCL ranks #911 out of 2699 companies in the Software industry, which is above the industry midpoint. Overall, Netbay PCL has a GF Score™ of 87/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Netbay PCL's Degree of Operating Leverage compare to UBER and SHOP?
According to the Software industry distribution chart, Netbay PCL ranks #911 out of 2699 companies for Degree of Operating Leverage. This puts Netbay PCL in the upper half of its industry. The industry median Degree of Operating Leverage is 0.60. 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 Software company?
The median Degree of Operating Leverage among Software companies is 0.60, based on 2,699 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. 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 Netbay PCL and its competitors. For the Software industry, the median Degree of Operating Leverage is 0.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Netbay PCL's current Degree of Operating Leverage is -0.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Netbay PCL stock overvalued right now?
Based on GuruFocus' analysis, Netbay PCL (BKK:NETBAY) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿21.10, compared to a current price of ฿14.20 — trading 32.7% below its estimated fair value. The current Degree of Operating Leverage is -0.66. Netbay PCL's overall GF Score™ is 87/100 with 3 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 Netbay PCL (BKK:NETBAY), the current Degree of Operating Leverage is -0.66 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 Netbay PCL (BKK:NETBAY) Overvalued in 2026?

Based on GuruFocus' analysis, Netbay PCL stock appears to be undervalued. The current stock price of ฿14.20 is trading 32.7% below its estimated GF Value™ of ฿21.10. GuruFocus considers Netbay PCL to be Significantly Undervalued.

Key valuation signals for BKK:NETBAY:

  • Degree of Operating Leverage: -0.66
  • GF Value™: ฿21.10 vs. price of ฿14.20 (32.7% below fair value)
  • GF Score™: 87/100 with 3 warning signs

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


Netbay PCL Business Description

Address No. 719/5, 8-9, Rama 6 Road, Wang Mai Sub-district, Pathumwan District, Bangkok, THA, 10330
Netbay PCL is a Thailand-based company engaged in the provision and development of computer software used in the transmission of information electronically. The company creates, designs, and develops a digital business technology platform and omnichannel connectivity gateway. It operates in two segments: The e-Business segment, which develops an e-Business product in the form of services (SaaS: Software As A Service), and the e-Service segment, which rendered an e-Business service for the Business segment to Government (B2G) transaction, and Business segment to Business segment (B2B) transaction. The company operates only in Thailand and generates the majority of its revenue from the e-Business segment.
87GF Score

Get the complete analysis for BKK:NETBAY

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

฿14.20
Price
฿21.10
GF Value