Kulthorn Kirby PCL (BKK:KKC) Operating Income: ฿-653 Mil (TTM As of Dec. 2025)

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BKK:KKC Kulthorn Kirby PCL BKK:KKC
8 GF Score
Price ฿0.04
GF Value ฿0.16
! 8 Warning Signs
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What is Kulthorn Kirby PCL Operating Income?

Kulthorn Kirby PCL BKK:KKC 8 Operating Income is ฿-653 Mil as of Dec. 2025. GuruFocus rates BKK:KKC with a GF Score™ of 8/100 and a GF Value™ of ฿0.16. The stock has 8 warning signs investors should review.

Kulthorn Kirby PCL's Operating Income for the six months ended in Dec. 2025 was ฿-258 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was ฿-653 Mil.

Warning Sign:

Kulthorn Kirby PCL has never been profitable in the past 3 years. It lost money every year.

Operating Margin % is calculated as Operating Income divided by its Revenue. Kulthorn Kirby PCL's Operating Income for the six months ended in Dec. 2025 was ฿-258 Mil. Kulthorn Kirby PCL's Revenue for the six months ended in Dec. 2025 was ฿1,074 Mil. Therefore, Kulthorn Kirby PCL's Operating Margin % for the quarter that ended in Dec. 2025 was -24.04%.

Warning Sign:

Kulthorn Kirby PCL operating margin has been in a 5-year decline. The average rate of decline per year is -52.9%.

Kulthorn Kirby PCL's 5-Year average Growth Rate for Operating Margin % was -52.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Kulthorn Kirby PCL's annualized ROC % for the quarter that ended in Dec. 2025 was -6.15%. Kulthorn Kirby PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -14.52%.


Kulthorn Kirby PCL  (BKK:KKC) Operating Income Explanation

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

Kulthorn Kirby PCL's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=-516.034 * ( 1 - 1.51% )/( (8239.395 + 8301.304)/ 2 )
=-508.2418866/8270.3495
=-6.15 %

where

Invested Capital(Q: Jun. 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))
=4588.74 - 1389.745 - ( 80.197 - max(0, 6192.562 - 1152.162+80.197))
=8239.395

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))
=4299.633 - 1540.173 - ( 66.945 - max(0, 6479.567 - 937.723+66.945))
=8301.304

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

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

Kulthorn Kirby PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-489.082/( ( (3400.803 + max(-358.106, 0)) + (3334.279 + max(-739.31, 0)) )/ 2 )
=-489.082/( ( 3400.803 + 3334.279 )/ 2 )
=-489.082/3367.541
=-14.52 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(256.159 + 677.808 + 110.127) - (1389.745 + 0 + 12.455)
=-358.106

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(218.42 + 578.085 + 41.243) - (1540.173 + 6.099 + 30.786)
=-739.31

When net working capital is negative, 0 is used.

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

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

Kulthorn Kirby PCL's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=-258.017/1073.502
=-24.04 %

* 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.


Kulthorn Kirby PCL Operating Income Related Terms


Kulthorn Kirby PCL Operating Income Historical Data

* Premium members only.

The historical data trend for Kulthorn Kirby 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.

Kulthorn Kirby PCL Operating Income Chart

Kulthorn Kirby 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 -296.68 -618.63 -994.03 -776.80 -652.58

Kulthorn Kirby PCL Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 -489.81 -380.06 -396.74 -394.56 -258.02
BKK:KKC
8GF Score
Kulthorn Kirby PCL BKK:KKC
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Kulthorn Kirby 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was ฿-653 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 ฿-653 Mil mean?
Kulthorn Kirby PCL (BKK:KKC) has a Operating Income of ฿-653 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Kulthorn Kirby PCL and its competitors.
Is Kulthorn Kirby PCL's Operating Income too high?
Kulthorn Kirby PCL's current Operating Income is ฿-653 Mil. Overall, Kulthorn Kirby PCL has a GF Score™ of 8/100, reflecting its overall financial health beyond just this single metric.
How does Kulthorn Kirby PCL's Operating Income compare to GE and ETN?
Kulthorn Kirby PCL's Operating Income of ฿-653 Mil can be compared against companies in the Industrial Products 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 Industrial Products company?
A good Operating Income depends on the Industrial Products 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 Kulthorn Kirby PCL and its competitors. Kulthorn Kirby PCL's current Operating Income is ฿-653 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kulthorn Kirby PCL stock overvalued right now?
Kulthorn Kirby PCL (BKK:KKC) has a current Operating Income of ฿-653 Mil. The stock's GF Value™ is ฿0.16, compared to a current price of ฿0.04 — trading 75% below its estimated fair value. The current Operating Income is ฿-653 Mil. Kulthorn Kirby PCL's overall GF Score™ is 8/100 with 8 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 Kulthorn Kirby PCL (BKK:KKC), the current Operating Income is ฿-653 Mil as of Dec. 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 Kulthorn Kirby PCL (BKK:KKC) Overvalued in 2026?

Based on GuruFocus' analysis, Kulthorn Kirby PCL stock appears to be undervalued. The current stock price of ฿0.04 is trading 75% below its estimated GF Value™ of ฿0.16.

Key valuation signals for BKK:KKC:

  • Operating Income: ฿-653 Mil
  • GF Value™: ฿0.16 vs. price of ฿0.04 (75% below fair value)
  • GF Score™: 8/100 with 8 warning signs

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


Kulthorn Kirby PCL Business Description

Address 126 Soi Chalongkrung 31, Chalongkrung Road, Khwaeng Lamplatew, Khet Latkrabang, Bangkok, THA, 10520
Kulthorn Kirby PCL is a Thailand-based company engaged in the manufacture and distribution of hermetic compressors. The company operates through four segments namely Compressors and parts, Enameled wire, Steel sheet, and Steel coil center. In addition, it is also a manufacturer and seller of the motor compressor, and reciprocating type for refrigeration products including refrigerators, freezers, water coolers, commercial refrigerators, and air conditioners. The majority of its revenue is derived from the Compressors and parts segment. Geographically, it derives its key revenue from Thailand and the rest from Hong Kong, China, Indonesia, Saudi Arabia, and other regions.
8GF Score

Get the complete analysis for BKK:KKC

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

฿0.04
Price
฿0.16
GF Value