CPL Group PCL (BKK:CPL) Operating Income: ฿-37 Mil (TTM As of Mar. 2026)

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BKK:CPL CPL Group PCL BKK:CPL
51 GF Score
Price ฿0.68
GF Value ฿1.15
Valuation Possible Value Trap
! 4 Warning Signs
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What is CPL Group PCL Operating Income?

CPL Group PCL BKK:CPL -1.45% 51 Operating Income is ฿-37 Mil as of Mar. 2026. GuruFocus rates BKK:CPL with a GF Score™ of 51/100 and a GF Value™ of ฿1.15 (Possible Value Trap). The stock has 4 warning signs investors should review.

CPL Group PCL's Operating Income for the three months ended in Mar. 2026 was ฿16 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ฿-37 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. CPL Group PCL's Operating Income for the three months ended in Mar. 2026 was ฿16 Mil. CPL Group PCL's Revenue for the three months ended in Mar. 2026 was ฿438 Mil. Therefore, CPL Group PCL's Operating Margin % for the quarter that ended in Mar. 2026 was 3.60%.

CPL Group 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. CPL Group PCL's annualized ROC % for the quarter that ended in Mar. 2026 was 4.08%. CPL Group PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 5.65%.

CPL Group PCL  (BKK:CPL) Operating Income Explanation

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

CPL Group 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 )
=63.144 * ( 1 - 0% )/( (1541.056 + 1554.625)/ 2 )
=63.144/1547.8405
=4.08 %

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))
=1962.14 - 351.073 - ( 70.011 - max(0, 1216.851 - 1354.658+70.011))
=1541.056

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))
=1979.434 - 361.031 - ( 63.778 - max(0, 1191.616 - 1377.193+63.778))
=1554.625

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

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

CPL Group 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 )
=76.856/( ( (482.589 + max(857.406, 0)) + (473.579 + max(909.239, 0)) )/ 2 )
=76.856/( ( 1339.995 + 1382.818 )/ 2 )
=76.856/1361.4065
=5.65 %

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)
=(178.415 + 1023.294 + 38.745) - (351.073 + 24.402 + 7.5730000000001)
=857.406

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(177.129 + 1075.28 + 30.603) - (361.031 + 10.524 + 2.2180000000001)
=909.239

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 %:

CPL Group 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 )
=15.786/438.49
=3.60 %

* 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.

CPL Group PCL Operating Income Related Terms

CPL Group PCL Operating Income Historical Data

* Premium members only.

The historical data trend for CPL Group 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.

CPL Group PCL Operating Income Chart

CPL Group 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 112.59 47.21 -147.25 -49.28 -39.66

CPL Group 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 14.31 -26.40 -2.33 -24.36 15.79
BKK:CPL
51GF Score
CPL Group PCL BKK:CPL
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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CPL Group 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 ฿-37 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 ฿-37 Mil mean?
CPL Group PCL (BKK:CPL) has a Operating Income of ฿-37 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on CPL Group PCL and its competitors.
Is CPL Group PCL's Operating Income too high?
CPL Group PCL's current Operating Income is ฿-37 Mil. Overall, CPL Group PCL has a GF Score™ of 51/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does CPL Group PCL's Operating Income compare to NKE and DECK?
CPL Group PCL's Operating Income of ฿-37 Mil can be compared against companies in the Manufacturing - Apparel & Accessories 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 a Manufacturing - Apparel & Accessories company?
A good Operating Income depends on the Manufacturing - Apparel & Accessories 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 CPL Group PCL and its competitors. CPL Group PCL's current Operating Income is ฿-37 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CPL Group PCL stock overvalued right now?
Based on GuruFocus' analysis, CPL Group PCL (BKK:CPL) is currently considered Possible Value Trap. The stock's GF Value™ is ฿1.15, compared to a current price of ฿0.68 — trading 40.9% below its estimated fair value. The current Operating Income is ฿-37 Mil. CPL Group PCL's overall GF Score™ is 51/100 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 CPL Group PCL (BKK:CPL), the current Operating Income is ฿-37 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 CPL Group PCL (BKK:CPL) Overvalued in 2026?

Based on GuruFocus' analysis, CPL Group PCL stock appears to be undervalued. The current stock price of ฿0.68 is trading 40.9% below its estimated GF Value™ of ฿1.15. GuruFocus considers CPL Group PCL to be Possible Value Trap.

Key valuation signals for BKK:CPL:

  • Operating Income: ฿-37 Mil
  • GF Value™: ฿1.15 vs. price of ฿0.68 (40.9% below fair value)
  • GF Score™: 51/100 with 4 warning signs

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

CPL Group PCL Business Description

Address 700 Moo 6 Sukhumvit Road, Bangpoo-Mai, Mueang Samutprakan, Samutprakarn, THA, 10280
CPL Group PCL engages in the businesses of manufacturing and distribution of leather products, rendering of tanning service and manufacturing and distribution of personal protective equipment. Its product ranges from aniline leather, pigmented leather, oiled leather, waterproof leather, thru to split suede and finished splits. The company's segments include Tannery industry segment which has revenue from sales of finished leather products and rendering service of tanning and the Personal protective equipment segment, which has revenue from sales of personal protective equipment products. It derives revenue from Finished leather segment.
51GF Score

Get the complete analysis for BKK:CPL

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

฿0.68
Price
฿1.15
GF Value