Banpu Power PCL (BKK:BPP-R) Operating Income: ฿2,799 Mil (TTM As of Mar. 2026)


BKK:BPP-R Banpu Power PCL BKK:BPP-R
79 GF Score
Price ฿10.10
GF Value ฿10.52
! 6 Warning Signs
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What is Banpu Power PCL Operating Income?

Banpu Power PCL BKK:BPP-R 79 Operating Income is ฿2,799 Mil as of Mar. 2026. GuruFocus rates BKK:BPP-R with a GF Score™ of 79/100 and a GF Value™ of ฿10.52. The stock has 6 warning signs investors should review.

Banpu Power PCL's Operating Income for the three months ended in Mar. 2026 was ฿535 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ฿2,799 Mil.

Warning Sign:

Banpu Power PCL has recorded a loss in operating income at least once over the past 3 years.

Operating Margin % is calculated as Operating Income divided by its Revenue. Banpu Power PCL's Operating Income for the three months ended in Mar. 2026 was ฿535 Mil. Banpu Power PCL's Revenue for the three months ended in Mar. 2026 was ฿5,093 Mil. Therefore, Banpu Power PCL's Operating Margin % for the quarter that ended in Mar. 2026 was 10.50%.

Banpu Power PCL'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. Banpu Power PCL's annualized ROC % for the quarter that ended in Mar. 2026 was 1.99%. Banpu Power PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 153.27%.


Banpu Power PCL  (BKK:BPP-R) Operating Income Explanation

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

Banpu Power PCL's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=2138.008 * ( 1 - 22.01% )/( (93424.234 + 74577.885)/ 2 )
=1667.4324392/84001.0595
=1.99 %

where

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))
=94480.982 - 1931.642 - ( 7319.151 - max(0, 13382.116 - 12507.222+7319.151))
=93424.234

Invested Capital(Q: Mar. 2026 )
=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))
=82814.11 - 2350.927 - ( 11852.769 - max(0, 11687.752 - 17573.05+11852.769))
=74577.885

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

Banpu Power PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=32694.892/( ( (32811.005 + max(1973.038, 0)) + (7878.292 + max(-479.037, 0)) )/ 2 )
=32694.892/( ( 34784.043 + 7878.292 )/ 2 )
=32694.892/21331.1675
=153.27 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2177.423 + 1328.637 + 982.143) - (1931.642 + 316.065 + 267.458)
=1973.038

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1519.866 + 209.943 + 210.759) - (2350.927 + 66.143 + 2.5349999999999)
=-479.037

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

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

Banpu Power PCL's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=534.502/5092.756
=10.50 %

* 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.


Banpu Power PCL Operating Income Related Terms


Banpu Power PCL Operating Income Historical Data

* Premium members only.

The historical data trend for Banpu Power PCL'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.

Banpu Power PCL Operating Income Chart

Banpu Power PCL 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 -1,142.87 524.80 6,003.50 -28.26 2,486.88

Banpu Power PCL Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 222.13 478.78 697.57 1,088.40 534.50
BKK:BPP-R
79GF Score
Banpu Power PCL BKK:BPP-R
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Banpu Power PCL 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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ฿2,799 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 ฿2,799 Mil mean?
Banpu Power PCL (BKK:BPP-R) has a Operating Income of ฿2,799 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Banpu Power PCL and its competitors.
Is Banpu Power PCL's Operating Income too high?
Banpu Power PCL's current Operating Income is ฿2,799 Mil. Overall, Banpu Power PCL has a GF Score™ of 79/100, reflecting its overall financial health beyond just this single metric.
How does Banpu Power PCL's Operating Income compare to CEG and VST?
Banpu Power PCL's Operating Income of ฿2,799 Mil can be compared against companies in the Utilities - Independent Power Producers 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 Utilities - Independent Power Producers company?
A good Operating Income depends on the Utilities - Independent Power Producers 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 Banpu Power PCL and its competitors. Banpu Power PCL's current Operating Income is ฿2,799 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Banpu Power PCL stock overvalued right now?
Banpu Power PCL (BKK:BPP-R) has a current Operating Income of ฿2,799 Mil. The stock's GF Value™ is ฿10.52, compared to a current price of ฿10.10 — trading 4% below its estimated fair value. The current Operating Income is ฿2,799 Mil. Banpu Power PCL's overall GF Score™ is 79/100 with 6 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 Banpu Power PCL (BKK:BPP-R), the current Operating Income is ฿2,799 Mil 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 Banpu Power PCL (BKK:BPP-R) Overvalued in 2026?

Based on GuruFocus' analysis, Banpu Power PCL stock appears to be undervalued. The current stock price of ฿10.10 is trading 4% below its estimated GF Value™ of ฿10.52.

Key valuation signals for BKK:BPP-R:

  • Operating Income: ฿2,799 Mil
  • GF Value™: ฿10.52 vs. price of ฿10.10 (4% below fair value)
  • GF Score™: 79/100 with 6 warning signs

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


Banpu Power PCL Business Description

Other Exchanges BPP:Thailand
Address 1550 New Petchburi Road, 26th Floor, Thanapoom Tower, Makkasan, Ratchathewi, Bangkok, THA, 10400
Banpu Power PCL is engaged in investments in power businesses in Thailand and overseas. The business activities of the group include the generation and sale of electricity and other related business. The company's business segments include Power+: Power generation from thermal and renewable energy sources, both domestically and internationally. Second segment being Future Tech: Battery energy storage systems, solar rooftop and floating solar systems, battery production, energy trading, e-mobility, and energy efficiency businesses. Geographically, the company has its presence in the United States which is the key revenue driver, China, and other regions.
79GF Score

Get the complete analysis for BKK:BPP-R

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

฿10.10
Price
฿10.52
GF Value