Proud Real Estate PCL (BKK:PROUD) Operating Income: ฿456 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.

BKK:PROUD Proud Real Estate PCL BKK:PROUD
47 GF Score
Price ฿1.03
GF Value ฿2.71
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is Proud Real Estate PCL Operating Income?

Proud Real Estate PCL BKK:PROUD 47 Operating Income is ฿456 Mil as of Mar. 2026. GuruFocus rates BKK:PROUD with a GF Score™ of 47/100 and a GF Value™ of ฿2.71 (Possible Value Trap). The stock has 6 warning signs investors should review.

Proud Real Estate PCL's Operating Income for the three months ended in Mar. 2026 was ฿90 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ฿456 Mil.

Warning Sign:

Proud Real Estate 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. Proud Real Estate PCL's Operating Income for the three months ended in Mar. 2026 was ฿90 Mil. Proud Real Estate PCL's Revenue for the three months ended in Mar. 2026 was ฿1,206 Mil. Therefore, Proud Real Estate PCL's Operating Margin % for the quarter that ended in Mar. 2026 was 7.49%.

Proud Real Estate 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. Proud Real Estate PCL's annualized ROC % for the quarter that ended in Mar. 2026 was 3.82%. Proud Real Estate PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 7.86%.


Proud Real Estate PCL  (BKK:PROUD) Operating Income Explanation

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

Proud Real Estate 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 )
=361.196 * ( 1 - 33.61% )/( (6484.927 + 6061.04)/ 2 )
=239.7980244/6272.9835
=3.82 %

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))
=7490.649 - 551.477 - ( 454.245 - max(0, 3806.63 - 7136.323+454.245))
=6484.927

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))
=7339.89 - 534.815 - ( 744.035 - max(0, 4612.639 - 6979.409+744.035))
=6061.04

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

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

Proud Real Estate 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 )
=361.216/( ( (45.345 + max(4704.523, 0)) + (56.477 + max(4382.145, 0)) )/ 2 )
=361.216/( ( 4749.868 + 4438.622 )/ 2 )
=361.216/4594.245
=7.86 %

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)
=(0 + 6349.87 + 234.112) - (551.477 + 1283.588 + 44.394)
=4704.523

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(57.531 + 5900.498 + 215.541) - (534.815 + 1202.801 + 53.809)
=4382.145

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 %:

Proud Real Estate 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 )
=90.299/1205.598
=7.49 %

* 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.


Proud Real Estate PCL Operating Income Related Terms


Proud Real Estate PCL Operating Income Historical Data

* Premium members only.

The historical data trend for Proud Real Estate 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.

Proud Real Estate PCL Operating Income Chart

Proud Real Estate 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 -98.83 372.68 188.30 96.90 437.53

Proud Real Estate 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 72.33 165.60 118.31 81.29 90.30
BKK:PROUD
47GF Score
Proud Real Estate PCL BKK:PROUD
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Proud Real Estate 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 ฿456 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 ฿456 Mil mean?
Proud Real Estate PCL (BKK:PROUD) has a Operating Income of ฿456 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Proud Real Estate PCL and its competitors.
Is Proud Real Estate PCL's Operating Income too high?
Proud Real Estate PCL's current Operating Income is ฿456 Mil. Overall, Proud Real Estate PCL has a GF Score™ of 47/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Proud Real Estate PCL's Operating Income compare to competitors?
Proud Real Estate PCL's Operating Income of ฿456 Mil can be compared against companies in the Real Estate 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 Real Estate company?
A good Operating Income depends on the Real Estate 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 Proud Real Estate PCL and its competitors. Proud Real Estate PCL's current Operating Income is ฿456 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Proud Real Estate PCL stock overvalued right now?
Based on GuruFocus' analysis, Proud Real Estate PCL (BKK:PROUD) is currently considered Possible Value Trap. The stock's GF Value™ is ฿2.71, compared to a current price of ฿1.03 — trading 62% below its estimated fair value. The current Operating Income is ฿456 Mil. Proud Real Estate PCL's overall GF Score™ is 47/100 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 Proud Real Estate PCL (BKK:PROUD), the current Operating Income is ฿456 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 Proud Real Estate PCL (BKK:PROUD) Overvalued in 2026?

Based on GuruFocus' analysis, Proud Real Estate PCL stock appears to be undervalued. The current stock price of ฿1.03 is trading 62% below its estimated GF Value™ of ฿2.71. GuruFocus considers Proud Real Estate PCL to be Possible Value Trap.

Key valuation signals for BKK:PROUD:

  • Operating Income: ฿456 Mil
  • GF Value™: ฿2.71 vs. price of ฿1.03 (62% below fair value)
  • GF Score™: 47/100 with 6 warning signs

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


Proud Real Estate PCL Business Description

Address Ploenchit Road, 548 One City Centre, 19th Floor, Unit No. 1902 - 1903, Lumpini Subdistrict, Pathumwan District, Bangkok, THA, 10330
Proud Real Estate PCL is principally engaged in real estate development. Its operations are carried on only in Thailand.
47GF Score

Get the complete analysis for BKK:PROUD

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

฿1.03
Price
฿2.71
GF Value