BLSFY (BlueScope Steel) Operating Income: $227 Mil (TTM As of Dec. 2025)


BLSFY BlueScope Steel Ltd BLSFY
80 GF Score
Price $111.72
GF Value $74.55
Valuation Significantly Overvalued
! 9 Warning Signs
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What is BlueScope Steel Operating Income?

BlueScope Steel BLSFY 80 Operating Income is $227 Mil as of Dec. 2025. GuruFocus rates BLSFY with a GF Score™ of 80/100 and a GF Value™ of $74.55 (Significantly Overvalued). The stock has 9 warning signs investors should review.

BlueScope Steel's Operating Income for the six months ended in Dec. 2025 was $287 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $227 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. BlueScope Steel's Operating Income for the six months ended in Dec. 2025 was $287 Mil. BlueScope Steel's Revenue for the six months ended in Dec. 2025 was $5,464 Mil. Therefore, BlueScope Steel's Operating Margin % for the quarter that ended in Dec. 2025 was 5.26%.

Warning Sign:

BlueScope Steel Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -27.9%.

BlueScope Steel's 5-Year average Growth Rate for Operating Margin % was -27.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. BlueScope Steel's annualized ROC % for the quarter that ended in Dec. 2025 was 5.40%. BlueScope Steel's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 11.70%.


BlueScope Steel  (OTCPK:BLSFY) Operating Income Explanation

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

BlueScope Steel'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: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=574.884 * ( 1 - 20.26% )/( (8403.907 + 8568.172)/ 2 )
=458.4125016/8486.0395
=5.40 %

where

Invested Capital(Q: Jun. 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))
=10274.089 - 1311.849 - ( 558.333 - max(0, 1972.266 - 3856.641+558.333))
=8403.907

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))
=10486.777 - 1202.99 - ( 715.615 - max(0, 1816.678 - 3879.269+715.615))
=8568.172

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

BlueScope Steel'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: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=744.186/( ( (4811.458 + max(1357.878, 0)) + (5086.645 + max(1460.066, 0)) )/ 2 )
=744.186/( ( 6169.336 + 6546.711 )/ 2 )
=744.186/6358.0235
=11.70 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1074.935 + 1997.461 + 162.891) - (1311.849 + 50.716 + 514.844)
=1357.878

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(992.226 + 1994.352 + 177.076) - (1202.99 + 8.239 + 492.359)
=1460.066

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

BlueScope Steel'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 )
=287.442/5464.452
=5.26 %

* 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.


BlueScope Steel Operating Income Related Terms


BlueScope Steel Operating Income Historical Data

* Premium members only.

The historical data trend for BlueScope Steel'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.

BlueScope Steel Operating Income Chart

BlueScope Steel Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,247.78 2,556.78 907.79 733.53 71.88

BlueScope Steel Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 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 399.26 337.45 128.31 -60.03 287.44
BLSFY
80GF Score
BlueScope Steel Ltd BLSFY
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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BlueScope Steel 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 semi-annually data reported by the company within the most recent 12 months, which was $227 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 $227 Mil mean?
BlueScope Steel (BLSFY) has a Operating Income of $227 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on BlueScope Steel and its competitors.
Is BlueScope Steel's Operating Income too high?
BlueScope Steel's current Operating Income is $227 Mil. Overall, BlueScope Steel has a GF Score™ of 80/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BlueScope Steel's Operating Income compare to NUE and STLD?
BlueScope Steel's Operating Income of $227 Mil can be compared against companies in the Steel 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 Steel company?
A good Operating Income depends on the Steel 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 BlueScope Steel and its competitors. BlueScope Steel's current Operating Income is $227 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BlueScope Steel stock overvalued right now?
Based on GuruFocus' analysis, BlueScope Steel (BLSFY) is currently considered Significantly Overvalued. The stock's GF Value™ is $74.55, compared to a current price of $111.72 — trading 49.9% above its estimated fair value. The current Operating Income is $227 Mil. BlueScope Steel's overall GF Score™ is 80/100 with 9 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 BlueScope Steel (BLSFY), the current Operating Income is $227 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 BlueScope Steel (BLSFY) Overvalued in 2026?

Based on GuruFocus' analysis, BlueScope Steel stock appears to be overvalued. The current stock price of $111.72 is trading 49.9% above its estimated GF Value™ of $74.55. GuruFocus considers BlueScope Steel to be Significantly Overvalued.

Key valuation signals for BLSFY:

  • Operating Income: $227 Mil
  • GF Value™: $74.55 vs. price of $111.72 (49.9% above fair value)
  • GF Score™: 80/100 with 9 warning signs

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


BlueScope Steel Business Description

Address 181 William Street, Level 24, Melbourne, VIC, AUS, 3000
BlueScope is an Australia-based steelmaker with five business units. The Australian steel products segment mainly specializes in branded coated and painted flat steel products, sold domestically. North Star is the group's US minimill, specializing in the production of hot rolled coil for US construction and automotive sectors. Building products Asia operates across Southeast Asia, China, and India, and the US building and coated products North America is involved in metal coating and painting, and the supply to nonresidential construction projects using BlueScope's materials. New Zealand steel and the Pacific Islands business produces flat and long steel products for New Zealand and building components for the Pacific Islands.
80GF Score

Get the complete analysis for BLSFY

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

$111.72
Price
$74.55
GF Value