Mfc Asset Management PCL (BKK:MFC) Operating Income: ฿241 Mil (TTM As of Mar. 2026)

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BKK:MFC Mfc Asset Management PCL BKK:MFC
76 GF Score
Price ฿20.10
GF Value ฿32.27
Valuation Significantly Undervalued
! 1 Warning Sign
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What is Mfc Asset Management PCL Operating Income?

Mfc Asset Management PCL BKK:MFC -0.99% 76 Operating Income is ฿241 Mil as of Mar. 2026. GuruFocus rates BKK:MFC with a GF Score™ of 76/100 and a GF Value™ of ฿32.27 (Significantly Undervalued). The stock has 1 warning sign investors should review.

Mfc Asset Management PCL's Operating Income for the three months ended in Mar. 2026 was ฿73 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ฿241 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Mfc Asset Management PCL's Operating Income for the three months ended in Mar. 2026 was ฿73 Mil. Mfc Asset Management PCL's Revenue for the three months ended in Mar. 2026 was ฿447 Mil. Therefore, Mfc Asset Management PCL's Operating Margin % for the quarter that ended in Mar. 2026 was 16.31%.

Warning Sign:

Mfc Asset Management PCL operating margin has been in a 5-year decline. The average rate of decline per year is -5.8%.

Mfc Asset Management PCL's 5-Year average Growth Rate for Operating Margin % was -5.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mfc Asset Management PCL's annualized ROC % for the quarter that ended in Mar. 2026 was 19.95%. Mfc Asset Management PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 65.35%.


Mfc Asset Management PCL  (BKK:MFC) Operating Income Explanation

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

Mfc Asset Management 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 )
=291.552 * ( 1 - 18.63% )/( (1002.872 + 1375.796)/ 2 )
=237.2358624/1189.334
=19.95 %

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))
=2161.231 - 166.371 - ( 991.988 - max(0, 214.582 - 1304.35+991.988))
=1002.872

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))
=2175.611 - 109.439 - ( 690.376 - max(0, 109.439 - 964.98+690.376))
=1375.796

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

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

Mfc Asset Management 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 )
=381.056/( ( (434.289 + max(146.663, 0)) + (420.087 + max(165.165, 0)) )/ 2 )
=381.056/( ( 580.952 + 585.252 )/ 2 )
=381.056/583.102
=65.35 %

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)
=(248.236 + 0 + 64.798) - (166.371 + 0 + 0)
=146.663

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(274.604 + 0 + 0) - (109.439 + 0 + 0)
=165.165

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 %:

Mfc Asset Management 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 )
=72.888/446.828
=16.31 %

* 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.


Mfc Asset Management PCL Operating Income Related Terms


Mfc Asset Management PCL Operating Income Historical Data

* Premium members only.

The historical data trend for Mfc Asset Management 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.

Mfc Asset Management PCL Operating Income Chart

Mfc Asset Management 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 356.82 241.98 199.43 232.15 228.74

Mfc Asset Management 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 60.35 81.72 92.05 -5.38 72.89
BKK:MFC
76GF Score
Mfc Asset Management PCL BKK:MFC
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Mfc Asset Management 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 ฿241 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 ฿241 Mil mean?
Mfc Asset Management PCL (BKK:MFC) has a Operating Income of ฿241 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Mfc Asset Management PCL and its competitors.
Is Mfc Asset Management PCL's Operating Income too high?
Mfc Asset Management PCL's current Operating Income is ฿241 Mil. Overall, Mfc Asset Management PCL has a GF Score™ of 76/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Mfc Asset Management PCL's Operating Income compare to BLK and BX?
Mfc Asset Management PCL's Operating Income of ฿241 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 Mfc Asset Management PCL and its competitors. Mfc Asset Management PCL's current Operating Income is ฿241 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mfc Asset Management PCL stock overvalued right now?
Based on GuruFocus' analysis, Mfc Asset Management PCL (BKK:MFC) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿32.27, compared to a current price of ฿20.10 — trading 37.7% below its estimated fair value. The current Operating Income is ฿241 Mil. Mfc Asset Management PCL's overall GF Score™ is 76/100 with 1 warning sign 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 Mfc Asset Management PCL (BKK:MFC), the current Operating Income is ฿241 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 Mfc Asset Management PCL (BKK:MFC) Overvalued in 2026?

Based on GuruFocus' analysis, Mfc Asset Management PCL stock appears to be undervalued. The current stock price of ฿20.10 is trading 37.7% below its estimated GF Value™ of ฿32.27. GuruFocus considers Mfc Asset Management PCL to be Significantly Undervalued.

Key valuation signals for BKK:MFC:

  • Operating Income: ฿241 Mil
  • GF Value™: ฿32.27 vs. price of ฿20.10 (37.7% below fair value)
  • GF Score™: 76/100 with 1 warning sign

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


Mfc Asset Management PCL Business Description

Address Witthayu Road, 16th -17th Floor, 195 One Bangkok Tower 4, Lumphini, Pathum Wan, Bangkok, THA, 10330
Mfc Asset Management PCL is a Thailand-based company that engages in the provision of fund management services. The company is licensed to manage mutual funds, provident funds, private funds, securities registrar, and real estate investment trusts. Its only operating segment is fund management.
76GF Score

Get the complete analysis for BKK:MFC

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

฿20.10
Price
฿32.27
GF Value