Siam Technic Concrete PCL (BKK:STECH) Operating Income: ฿234 Mil (TTM As of Dec. 2025)

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BKK:STECH Siam Technic Concrete PCL BKK:STECH
82 GF Score
Price ฿1.26
GF Value ฿1.38
Valuation Fairly Valued
! 6 Warning Signs
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What is Siam Technic Concrete PCL Operating Income?

Siam Technic Concrete PCL BKK:STECH -2.33% 82 Operating Income is ฿234 Mil as of Dec. 2025. GuruFocus rates BKK:STECH with a GF Score™ of 82/100 and a GF Value™ of ฿1.38 (Fairly Valued). The stock has 6 warning signs investors should review.

Siam Technic Concrete PCL's Operating Income for the three months ended in Dec. 2025 was ฿61 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was ฿234 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Siam Technic Concrete PCL's Operating Income for the three months ended in Dec. 2025 was ฿61 Mil. Siam Technic Concrete PCL's Revenue for the three months ended in Dec. 2025 was ฿517 Mil. Therefore, Siam Technic Concrete PCL's Operating Margin % for the quarter that ended in Dec. 2025 was 11.86%.

Good Sign:

Siam Technic Concrete PCL operating margin is expanding. Margin expansion is usually a good sign.

Siam Technic Concrete PCL's 5-Year average Growth Rate for Operating Margin % was 3.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Siam Technic Concrete PCL's annualized ROC % for the quarter that ended in Dec. 2025 was 6.27%. Siam Technic Concrete PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 5.95%.


Siam Technic Concrete PCL  (BKK:STECH) Operating Income Explanation

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

Siam Technic Concrete 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: Sep. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=245.296 * ( 1 - 25.14% )/( (2934.641 + 2925.22)/ 2 )
=183.6285856/2929.9305
=6.27 %

where

Invested Capital(Q: Sep. 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))
=3137.072 - 227.834 - ( 72.228 - max(0, 1021.059 - 995.656+72.228))
=2934.641

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))
=3091.237 - 212.049 - ( 87.238 - max(0, 997.327 - 951.295+87.238))
=2925.22

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

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

Siam Technic Concrete 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: Sep. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=150.656/( ( (2002.613 + max(571.207, 0)) + (1988.088 + max(498.707, 0)) )/ 2 )
=150.656/( ( 2573.82 + 2486.795 )/ 2 )
=150.656/2530.3075
=5.95 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(311.802 + 544.811 + 61.718) - (227.834 + 90.886 + 28.404)
=571.207

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(269.025 + 551.337 + 31.1) - (212.049 + 114.238 + 26.468)
=498.707

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

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

Siam Technic Concrete 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 )
=61.324/517.034
=11.86 %

* 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.


Siam Technic Concrete PCL Operating Income Related Terms


Siam Technic Concrete PCL Operating Income Historical Data

* Premium members only.

The historical data trend for Siam Technic Concrete 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.

Siam Technic Concrete PCL Operating Income Chart

Siam Technic Concrete PCL Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 108.43 149.93 191.57 232.93 233.81

Siam Technic Concrete PCL Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 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 72.99 95.06 46.84 30.59 61.32
BKK:STECH
82GF Score
Siam Technic Concrete PCL BKK:STECH
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Siam Technic Concrete 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 quarterly data reported by the company within the most recent 12 months, which was ฿234 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 ฿234 Mil mean?
Siam Technic Concrete PCL (BKK:STECH) has a Operating Income of ฿234 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Siam Technic Concrete PCL and its competitors.
Is Siam Technic Concrete PCL's Operating Income too high?
Siam Technic Concrete PCL's current Operating Income is ฿234 Mil. Overall, Siam Technic Concrete PCL has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Siam Technic Concrete PCL's Operating Income compare to CRH and VMC?
Siam Technic Concrete PCL's Operating Income of ฿234 Mil can be compared against companies in the Building Materials 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 Building Materials company?
A good Operating Income depends on the Building Materials 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 Siam Technic Concrete PCL and its competitors. Siam Technic Concrete PCL's current Operating Income is ฿234 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Siam Technic Concrete PCL stock overvalued right now?
Based on GuruFocus' analysis, Siam Technic Concrete PCL (BKK:STECH) is currently considered Fairly Valued. The stock's GF Value™ is ฿1.38, compared to a current price of ฿1.26 — trading 8.7% below its estimated fair value. The current Operating Income is ฿234 Mil. Siam Technic Concrete PCL's overall GF Score™ is 82/100 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 Siam Technic Concrete PCL (BKK:STECH), the current Operating Income is ฿234 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 Siam Technic Concrete PCL (BKK:STECH) Overvalued in 2026?

Based on GuruFocus' analysis, Siam Technic Concrete PCL stock appears to be undervalued. The current stock price of ฿1.26 is trading 8.7% below its estimated GF Value™ of ฿1.38. GuruFocus considers Siam Technic Concrete PCL to be Fairly Valued.

Key valuation signals for BKK:STECH:

  • Operating Income: ฿234 Mil
  • GF Value™: ฿1.38 vs. price of ฿1.26 (8.7% below fair value)
  • GF Score™: 82/100 with 6 warning signs

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


Siam Technic Concrete PCL Business Description

Address Ngamwongwan Road, No. 50 Soi Ngam Wong Wan 47, Intersection 20, Thungsonghong Sub-district, Laksi District, Bangkok, THA, 10210
Siam Technic Concrete PCL is engaged in the manufacture of prestressed concrete products and construction contractor service. The firm has two reportable segments namely Sale of goods and services and Construction. The company generates the majority of its revenue from the Sale of goods and service segments. The Company is managed and operates principally in Thailand.
82GF Score

Get the complete analysis for BKK:STECH

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

฿1.26
Price
฿1.38
GF Value