ASASF (Asia Standard International Group) Operating Income: $-151.2 Mil (TTM As of Sep. 2025)

What is Asia Standard International Group Operating Income?

Asia Standard International Group ASASF 43 Operating Income is $-151.2 Mil as of Sep. 2025. GuruFocus rates ASASF with a GF Score™ of 43/100 and a GF Value™ of $0.20. The stock has 4 warning signs investors should review.

Asia Standard International Group's Operating Income for the six months ended in Sep. 2025 was $71.2 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2025 was $-151.2 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Asia Standard International Group's Operating Income for the six months ended in Sep. 2025 was $71.2 Mil. Asia Standard International Group's Revenue for the six months ended in Sep. 2025 was $686.0 Mil. Therefore, Asia Standard International Group's Operating Margin % for the quarter that ended in Sep. 2025 was 10.39%.

Asia Standard International Group'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. Asia Standard International Group's annualized ROC % for the quarter that ended in Sep. 2025 was 3.99%. Asia Standard International Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2025 was -1.21%.

Asia Standard International Group (OTCPK:ASASF) Operating Income Explanation

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

Asia Standard International Group's annualized ROC % for the quarter that ended in Sep. 2025 is calculated as:

	ROC % (Q: Sep. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2025 )	+	Invested Capital (Q: Sep. 2025 ))	/ count )
=	142.478 * ( 1 - 0% )	/	( (3738.043	+	3407.829)	/ 2 )
=	142.478	/	3572.936
=	3.99 %

where

	Invested Capital		(Q: Mar. 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	))
=	3978.784	-	62.154	-	( 258.072	-	max(0, 1053.24	-	1231.827	+	258.072	))
=	3738.043

	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	))
=	3515.828	-	91.395	-	( 439.091	-	max(0, 999.157	-	1015.761	+	439.091	))
=	3407.829

Note: The Operating Income data used here is two times the semi-annual (Sep. 2025) data.

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

Asia Standard International Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2025 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2025 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2025		Q: Sep. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-11.928	/	( ( (583.58 + max(532.438, 0))	+	(549.544 + max(309.096, 0)) )	/	2 )
=	-11.928	/	( ( 1116.018	+	858.64 )	/	2 )
=	-11.928	/	987.329
=	-1.21 %

where Working Capital is:

	Working Capital		(Q: Mar. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(11.635	+	802.62	+	117.851)	-	(62.154	+	0	+	337.514)
=	532.438

	Working Capital		(Q: Sep. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(6.07	+	334.12	+	64.824)	-	(91.395	+	0	+	4.523)
=	309.096

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Sep. 2025) EBIT data.

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

Asia Standard International Group's Operating Margin % for the quarter that ended in Sep. 2025 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2025 )	/	Revenue (Q: Sep. 2025 )
	=	71.239	/	685.95
	=	10.39 %

* 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.

Asia Standard International Group Operating Income Related Terms

Asia Standard International Group Operating Income Historical Data

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The historical data trend for Asia Standard International Group's Operating Income can be seen below:

Asia Standard International Group Operating Income Chart

Asia Standard International Group Annual Data

Trend

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Operating Income

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245.43

-81.21

-4.17

-603.27

-154.87

Asia Standard International Group Semi-Annual Data
	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25
Operating Income	Get a 7-Day Free Trial															-83.15	-520.06	67.44	-222.47	71.24

43GF Score

Asia Standard International Group Ltd ASASF

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Asia Standard International 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 Sep. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was $-151.2 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $-151.2 Mil mean?

Asia Standard International Group (ASASF) has a Operating Income of $-151.2 Mil as of Sep. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Asia Standard International Group and its competitors.

Is Asia Standard International Group's Operating Income too high?

Asia Standard International Group's current Operating Income is $-151.2 Mil. Overall, Asia Standard International Group has a GF Score™ of 43/100, reflecting its overall financial health beyond just this single metric.

How does Asia Standard International Group's Operating Income compare to BLK and BX?

Asia Standard International Group's Operating Income of $-151.2 Mil can be compared against companies in the Asset Management 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 an Asset Management company?

A good Operating Income depends on the Asset Management 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 Asia Standard International Group and its competitors. Asia Standard International Group's current Operating Income is $-151.2 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Asia Standard International Group stock overvalued right now?

Asia Standard International Group (ASASF) has a current Operating Income of $-151.2 Mil. The stock's GF Value™ is $0.20, compared to a current price of $0.03 — trading 85.6% below its estimated fair value. The current Operating Income is $-151.2 Mil. Asia Standard International Group's overall GF Score™ is 43/100 with 4 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 Asia Standard International Group (ASASF), the current Operating Income is $-151.2 Mil as of Sep. 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 Asia Standard International Group (ASASF) Overvalued in 2026?

Based on GuruFocus' analysis, Asia Standard International Group stock appears to be undervalued. The current stock price of $0.03 is trading 85.6% below its estimated GF Value™ of $0.20.

Key valuation signals for ASASF:

Operating Income: $-151.2 Mil
GF Value™: $0.20 vs. price of $0.03 (85.6% below fair value)
GF Score™: 43/100 with 4 warning signs

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

Asia Standard International Group Business Description

Industry Financial Services Asset Management

Comparable Companies HKSE:1062 HKSE:01835 HKSE:08030 HKSE:02312 HKSE:00214 HKSE:00905 HKSE:01226 HKSE:00339 HKSE:01217 HKSE:08657 BLK BX OSTO:INVE A TSX:BN KKR TSX:BAM APO STT OSTO:EQT AMP

Other Exchanges 00129:Hong Kong BDL1:Germany

Address 33 Lockhart Road, 30th Floor, YF Life Tower, Wanchai, Hong Kong, HKG

Website https://www.asiastandard.com

Asia Standard International Group Ltd is an investment holding company. The company is principally engaged in developing and investing properties in location in Hong Kong, first-tier cities in China and Vancouver, Canada, and has established a well diversified business model across four main operating segments - property sales, property leasing, hotel operation and financial investments. The majority of its revenue is derived from the Financial Investments segment.

43GF Score

Get the complete analysis for ASASF

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

$0.03

Price

$0.20

GF Value

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