More Return PCL (BKK:MORE) Operating Income: ฿-25.19 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

What is More Return PCL Operating Income?

More Return PCL BKK:MORE -16.67% Operating Income is ฿-25.19 Mil as of Mar. 2026. The stock has 6 warning signs investors should review.

More Return PCL's Operating Income for the three months ended in Mar. 2026 was ฿-3.27 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ฿-25.19 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. More Return PCL's Operating Income for the three months ended in Mar. 2026 was ฿-3.27 Mil. More Return PCL's Revenue for the three months ended in Mar. 2026 was ฿21.36 Mil. Therefore, More Return PCL's Operating Margin % for the quarter that ended in Mar. 2026 was -15.29%.

More Return 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. More Return PCL's annualized ROC % for the quarter that ended in Mar. 2026 was -1.55%. More Return PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -3.36%.

More Return PCL  (BKK:MORE) Operating Income Explanation

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

More Return 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 )
=-13.06 * ( 1 - 0% )/( (841.684 + 838.536)/ 2 )
=-13.06/840.11
=-1.55 %

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))
=972.592 - 41.344 - ( 89.564 - max(0, 61.59 - 387.513+89.564))
=841.684

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))
=971.758 - 44.966 - ( 88.256 - max(0, 65.274 - 390.735+88.256))
=838.536

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

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

More Return 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 )
=-8.268/( ( (44.647 + max(200.62, 0)) + (47.224 + max(199.665, 0)) )/ 2 )
=-8.268/( ( 245.267 + 246.889 )/ 2 )
=-8.268/246.078
=-3.36 %

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)
=(12.625 + 23.383 + 226.202) - (41.344 + 0 + 20.246)
=200.62

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(15.037 + 23.378 + 226.524) - (44.966 + 0 + 20.308)
=199.665

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 %:

More Return 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 )
=-3.265/21.359
=-15.29 %

* 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.

More Return PCL Operating Income Related Terms

More Return PCL Operating Income Historical Data

* Premium members only.

The historical data trend for More Return 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.

More Return PCL Operating Income Chart

More Return 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 90.68 -18.02 -251.70 -274.58 -27.47

More Return 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 -5.54 -10.19 -6.13 -5.60 -3.27

More Return 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 ฿-25.19 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 ฿-25.19 Mil mean?
More Return PCL (BKK:MORE) has a Operating Income of ฿-25.19 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on More Return PCL and its competitors.
Is More Return PCL's Operating Income too high?
More Return PCL's current Operating Income is ฿-25.19 Mil.
How does More Return PCL's Operating Income compare to AWK and WTRG?
More Return PCL's Operating Income of ฿-25.19 Mil can be compared against companies in the Utilities - Regulated 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 - Regulated company?
A good Operating Income depends on the Utilities - Regulated 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 More Return PCL and its competitors. More Return PCL's current Operating Income is ฿-25.19 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is More Return PCL stock overvalued right now?
Based on GuruFocus' analysis, More Return PCL (BKK:MORE) is currently considered Fairly Valued. The stock's GF Value™ is ฿0.05, compared to a current price of ฿0.05 — trading right at its estimated fair value. The current Operating Income is ฿-25.19 Mil. 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 More Return PCL (BKK:MORE), the current Operating Income is ฿-25.19 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.

More Return PCL Business Description

Address Vibhavadi Rangsit Road, Soi Vibhavadi Rangsit 17, 222/148-150, Baan Suan Chatuchak Condominium, Chatuchak Sub-district, Chatuchak District, Bangkok, THA, 10900
More Return PCL is a Thailand-based company. Along with its subsidiaries, it operates in the following reportable segments; Services, Utilities, and Trading. The majority of its revenue is generated from the Utilities segment which is engaged in producing and selling treated water, and installation of water supply systems. The Services segment is responsible for consulting and organizing concerts, and the Trading segment is responsible for selling mosquito repellent spray products.