TBN PCL (BKK:TBN) Operating Income: ฿-11.1 Mil (TTM As of Jun. 2026)

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BKK:TBN TBN Corp PCL BKK:TBN
76 GF Score
Price ฿3.44
GF Value ฿5.86
Valuation Significantly Undervalued
! 5 Warning Signs
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What is TBN PCL Operating Income?

TBN PCL BKK:TBN -1.71% 76 Operating Income is ฿-11.1 Mil as of Jun. 2026. GuruFocus rates BKK:TBN with a GF Score™ of 76/100 and a GF Value™ of ฿5.86 (Significantly Undervalued). The stock has 5 warning signs investors should review.

TBN PCL's Operating Income for the three months ended in Jun. 2026 was ฿-14.2 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was ฿-11.1 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. TBN PCL's Operating Income for the three months ended in Jun. 2026 was ฿-14.2 Mil. TBN PCL's Revenue for the three months ended in Jun. 2026 was ฿81.0 Mil. Therefore, TBN PCL's Operating Margin % for the quarter that ended in Jun. 2026 was -17.50%.

Warning Sign:

TBN Corp PCL operating margin has been in a 5-year decline. The average rate of decline per year is -35.6%.

TBN PCL's 5-Year average Growth Rate for Operating Margin % was -35.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. TBN PCL's annualized ROC % for the quarter that ended in Jun. 2026 was -36.53%. TBN PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was -189.03%.


TBN PCL  (BKK:TBN) Operating Income Explanation

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

TBN PCL's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=-56.676 * ( 1 - 2.83% )/( (146.189 + 155.358)/ 2 )
=-55.0720692/150.7735
=-36.53 %

where

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))
=697.731 - 81.907 - ( 469.635 - max(0, 156.745 - 630.47+469.635))
=146.189

Invested Capital(Q: Jun. 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))
=663.05 - 82.367 - ( 425.325 - max(0, 159.324 - 597.253+425.325))
=155.358

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

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

TBN PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-52.44/( ( (29.143 + max(-90.095, 0)) + (26.341 + max(-69.832, 0)) )/ 2 )
=-52.44/( ( 29.143 + 26.341 )/ 2 )
=-52.44/27.742
=-189.03 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(27.925 + 0 + 29.981) - (81.907 + 59.279 + 6.815)
=-90.095

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(42.414 + 0 + 38.198) - (82.367 + 58.086 + 9.991)
=-69.832

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

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

TBN PCL's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=-14.169/80.987
=-17.50 %

* 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.


TBN PCL Operating Income Related Terms


TBN PCL Operating Income Historical Data

* Premium members only.

The historical data trend for TBN 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.

TBN PCL Operating Income Chart

TBN PCL Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 101.40 44.99 90.16 18.31 20.68

TBN PCL Quarterly Data
Dec20 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 0.18 5.56 5.03 -7.50 -14.17
BKK:TBN
76GF Score
TBN Corp PCL BKK:TBN
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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TBN 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 Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ฿-11.1 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 ฿-11.1 Mil mean?
TBN PCL (BKK:TBN) has a Operating Income of ฿-11.1 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on TBN PCL and its competitors.
Is TBN PCL's Operating Income too high?
TBN PCL's current Operating Income is ฿-11.1 Mil. Overall, TBN 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 TBN PCL's Operating Income compare to QH and SHOP?
TBN PCL's Operating Income of ฿-11.1 Mil can be compared against companies in the Software 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 Software company?
A good Operating Income depends on the Software 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 TBN PCL and its competitors. TBN PCL's current Operating Income is ฿-11.1 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TBN PCL stock overvalued right now?
Based on GuruFocus' analysis, TBN PCL (BKK:TBN) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿5.86, compared to a current price of ฿3.44 — trading 41.3% below its estimated fair value. The current Operating Income is ฿-11.1 Mil. TBN PCL's overall GF Score™ is 76/100 with 5 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 TBN PCL (BKK:TBN), the current Operating Income is ฿-11.1 Mil as of Jun. 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 TBN PCL (BKK:TBN) Overvalued in 2026?

Based on GuruFocus' analysis, TBN PCL stock appears to be undervalued. The current stock price of ฿3.44 is trading 41.3% below its estimated GF Value™ of ฿5.86. GuruFocus considers TBN PCL to be Significantly Undervalued.

Key valuation signals for BKK:TBN:

  • Operating Income: ฿-11.1 Mil
  • GF Value™: ฿5.86 vs. price of ฿3.44 (41.3% below fair value)
  • GF Score™: 76/100 with 5 warning signs

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


TBN PCL Business Description

Address Sukhumvit 21 (Asoke) Road, Floor. 15, Room No. 1501-1502, 54 Bangkok Business Building, Klong Toey Nua, Wattana, Bangkok, THA, 10110
TBN Corp PCL is Thailand's first low-code solutions provider. The company is engaged in the business of sales and development of software, including consultation on software development. The Company's segments include Digital solutions and technical consultancy services and technical maintenance, licensing, and cloud services, and Other. It offers a range of digital system design and development services, is a digital transformation consultant and solutions developer based on customer needs.
76GF Score

Get the complete analysis for BKK:TBN

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

฿3.44
Price
฿5.86
GF Value