Thai Nakarin Hospital PCL (BKK:TNH) Operating Income: ฿389 Mil (TTM As of Apr. 2026)

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BKK:TNH Thai Nakarin Hospital PCL BKK:TNH
86 GF Score
Price ฿28.75
GF Value ฿36.26
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Thai Nakarin Hospital PCL Operating Income?

Thai Nakarin Hospital PCL BKK:TNH -0.88% 86 Operating Income is ฿389 Mil as of Apr. 2026. GuruFocus rates BKK:TNH with a GF Score™ of 86/100 and a GF Value™ of ฿36.26 (Modestly Undervalued). The stock has 2 warning signs investors should review.

Thai Nakarin Hospital PCL's Operating Income for the three months ended in Apr. 2026 was ฿72 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Apr. 2026 was ฿389 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Thai Nakarin Hospital PCL's Operating Income for the three months ended in Apr. 2026 was ฿72 Mil. Thai Nakarin Hospital PCL's Revenue for the three months ended in Apr. 2026 was ฿633 Mil. Therefore, Thai Nakarin Hospital PCL's Operating Margin % for the quarter that ended in Apr. 2026 was 11.43%.

Good Sign:

Thai Nakarin Hospital PCL operating margin is expanding. Margin expansion is usually a good sign.

Thai Nakarin Hospital PCL's 5-Year average Growth Rate for Operating Margin % was 3.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Thai Nakarin Hospital PCL's annualized ROC % for the quarter that ended in Apr. 2026 was 12.20%. Thai Nakarin Hospital PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 17.39%.


Thai Nakarin Hospital PCL  (BKK:TNH) Operating Income Explanation

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

Thai Nakarin Hospital PCL's annualized ROC % for the quarter that ended in Apr. 2026 is calculated as:

ROC % (Q: Apr. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jan. 2026 ) + Invested Capital (Q: Apr. 2026 ))/ count )
=289.616 * ( 1 - 22.41% )/( (1854.709 + 1827.644)/ 2 )
=224.7130544/1841.1765
=12.20 %

where

Invested Capital(Q: Jan. 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))
=3989.586 - 429.123 - ( 1869.685 - max(0, 445.108 - 2150.862+1869.685))
=1854.709

Invested Capital(Q: Apr. 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))
=3982.249 - 364.317 - ( 1892.115 - max(0, 376.987 - 2167.275+1892.115))
=1827.644

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

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

Thai Nakarin Hospital PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Apr. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jan. 2026  Q: Apr. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=308.792/( ( (1788.602 + max(-173.459, 0)) + (1762.522 + max(-113.938, 0)) )/ 2 )
=308.792/( ( 1788.602 + 1762.522 )/ 2 )
=308.792/1775.562
=17.39 %

where Working Capital is:

Working Capital(Q: Jan. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(222.075 + 49.035 + 0.077000000000226) - (429.123 + 0 + 15.523)
=-173.459

Working Capital(Q: Apr. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(179.527 + 82.823 + 0.23199999999997) - (364.317 + 0 + 12.203)
=-113.938

When net working capital is negative, 0 is used.

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

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

Thai Nakarin Hospital PCL's Operating Margin % for the quarter that ended in Apr. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Apr. 2026 )/Revenue (Q: Apr. 2026 )
=72.404/633.31
=11.43 %

* 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.


Thai Nakarin Hospital PCL Operating Income Related Terms


Thai Nakarin Hospital PCL Operating Income Historical Data

* Premium members only.

The historical data trend for Thai Nakarin Hospital 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.

Thai Nakarin Hospital PCL Operating Income Chart

Thai Nakarin Hospital PCL Annual Data
Trend Jul16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 338.97 522.39 424.02 518.44 465.70

Thai Nakarin Hospital PCL Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 102.38 108.23 114.63 93.49 72.40
BKK:TNH
86GF Score
Thai Nakarin Hospital PCL BKK:TNH
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Thai Nakarin Hospital 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 Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ฿389 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 ฿389 Mil mean?
Thai Nakarin Hospital PCL (BKK:TNH) has a Operating Income of ฿389 Mil as of Apr. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Thai Nakarin Hospital PCL and its competitors.
Is Thai Nakarin Hospital PCL's Operating Income too high?
Thai Nakarin Hospital PCL's current Operating Income is ฿389 Mil. Overall, Thai Nakarin Hospital PCL has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thai Nakarin Hospital PCL's Operating Income compare to HCA and THC?
Thai Nakarin Hospital PCL's Operating Income of ฿389 Mil can be compared against companies in the Healthcare Providers & Services 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 Healthcare Providers & Services company?
A good Operating Income depends on the Healthcare Providers & Services 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 Thai Nakarin Hospital PCL and its competitors. Thai Nakarin Hospital PCL's current Operating Income is ฿389 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Nakarin Hospital PCL stock overvalued right now?
Based on GuruFocus' analysis, Thai Nakarin Hospital PCL (BKK:TNH) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿36.26, compared to a current price of ฿28.75 — trading 20.7% below its estimated fair value. The current Operating Income is ฿389 Mil. Thai Nakarin Hospital PCL's overall GF Score™ is 86/100 with 2 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 Thai Nakarin Hospital PCL (BKK:TNH), the current Operating Income is ฿389 Mil as of Apr. 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 Thai Nakarin Hospital PCL (BKK:TNH) Overvalued in 2026?

Based on GuruFocus' analysis, Thai Nakarin Hospital PCL stock appears to be undervalued. The current stock price of ฿28.75 is trading 20.7% below its estimated GF Value™ of ฿36.26. GuruFocus considers Thai Nakarin Hospital PCL to be Modestly Undervalued.

Key valuation signals for BKK:TNH:

  • Operating Income: ฿389 Mil
  • GF Value™: ฿36.26 vs. price of ฿28.75 (20.7% below fair value)
  • GF Score™: 86/100 with 2 warning signs

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


Thai Nakarin Hospital PCL Business Description

Address No. 345 Thepparat Road, Kwaeng Bangna Nuea, Khet Bangna, Bangkok, THA, 10260
Thai Nakarin Hospital PCL operates a general hospital in Thailand. It provides inpatient and outpatient services and medical services. The company's operating units consist of an emergency department, X-ray unit, pharmacy department, physical therapy department, laboratory department, and others.
86GF Score

Get the complete analysis for BKK:TNH

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

฿28.75
Price
฿36.26
GF Value