BSMAF (Bursa Malaysia Bhd) Operating Income: $80.1 Mil (TTM As of Mar. 2026)

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BSMAF Bursa Malaysia Bhd BSMAF
71 GF Score
Price $2.18
GF Value $1.41
Valuation Significantly Overvalued
! 8 Warning Signs
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What is Bursa Malaysia Bhd Operating Income?

Bursa Malaysia Bhd BSMAF 71 Operating Income is $80.1 Mil as of Mar. 2026. GuruFocus rates BSMAF with a GF Score™ of 71/100 and a GF Value™ of $1.41 (Significantly Overvalued). The stock has 8 warning signs investors should review.

Bursa Malaysia Bhd's Operating Income for the three months ended in Mar. 2026 was $23.7 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $80.1 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Bursa Malaysia Bhd's Operating Income for the three months ended in Mar. 2026 was $23.7 Mil. Bursa Malaysia Bhd's Revenue for the three months ended in Mar. 2026 was $52.4 Mil. Therefore, Bursa Malaysia Bhd's Operating Margin % for the quarter that ended in Mar. 2026 was 45.24%.

Warning Sign:

Bursa Malaysia Bhd operating margin has been in a 5-year decline. The average rate of decline per year is -5.9%.

Bursa Malaysia Bhd's 5-Year average Growth Rate for Operating Margin % was -5.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Bursa Malaysia Bhd's annualized ROC % for the quarter that ended in Mar. 2026 was 55.49%. Bursa Malaysia Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 214.35%.


Bursa Malaysia Bhd  (OTCPK:BSMAF) Operating Income Explanation

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

Bursa Malaysia Bhd'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 )
=94.772 * ( 1 - 26.73% )/( (136.214 + 114.057)/ 2 )
=69.4394444/125.1355
=55.49 %

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))
=788.727 - 545.388 - ( 140.757 - max(0, 587.133 - 694.258+140.757))
=136.214

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))
=868.577 - 652.507 - ( 139.697 - max(0, 670.591 - 772.604+139.697))
=114.057

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

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

Bursa Malaysia Bhd'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 )
=100.012/( ( (44.985 + max(-34.885, 0)) + (48.33 + max(-44.557, 0)) )/ 2 )
=100.012/( ( 44.985 + 48.33 )/ 2 )
=100.012/46.6575
=214.35 %

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)
=(17.265 + 1.291 + 533.568) - (545.388 + 0 + 41.621)
=-34.885

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(23.807 + 1.443 + 600.654) - (652.507 + 0 + 17.954)
=-44.557

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 %:

Bursa Malaysia Bhd'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 )
=23.693/52.375
=45.24 %

* 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.


Bursa Malaysia Bhd Operating Income Related Terms


Bursa Malaysia Bhd Operating Income Historical Data

* Premium members only.

The historical data trend for Bursa Malaysia Bhd'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.

Bursa Malaysia Bhd Operating Income Chart

Bursa Malaysia Bhd 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 109.84 66.16 64.63 87.20 78.60

Bursa Malaysia Bhd 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 19.31 17.17 19.78 19.51 23.69
BSMAF
71GF Score
Bursa Malaysia Bhd BSMAF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Bursa Malaysia Bhd 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 $80.1 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 $80.1 Mil mean?
Bursa Malaysia Bhd (BSMAF) has a Operating Income of $80.1 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Bursa Malaysia Bhd and its competitors.
Is Bursa Malaysia Bhd's Operating Income too high?
Bursa Malaysia Bhd's current Operating Income is $80.1 Mil. Overall, Bursa Malaysia Bhd has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bursa Malaysia Bhd's Operating Income compare to SPGI and CME?
Bursa Malaysia Bhd's Operating Income of $80.1 Mil can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Operating Income depends on the Capital Markets 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 Bursa Malaysia Bhd and its competitors. Bursa Malaysia Bhd's current Operating Income is $80.1 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bursa Malaysia Bhd stock overvalued right now?
Based on GuruFocus' analysis, Bursa Malaysia Bhd (BSMAF) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.41, compared to a current price of $2.18 — trading 54.6% above its estimated fair value. The current Operating Income is $80.1 Mil. Bursa Malaysia Bhd's overall GF Score™ is 71/100 with 8 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 Bursa Malaysia Bhd (BSMAF), the current Operating Income is $80.1 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 Bursa Malaysia Bhd (BSMAF) Overvalued in 2026?

Based on GuruFocus' analysis, Bursa Malaysia Bhd stock appears to be overvalued. The current stock price of $2.18 is trading 54.6% above its estimated GF Value™ of $1.41. GuruFocus considers Bursa Malaysia Bhd to be Significantly Overvalued.

Key valuation signals for BSMAF:

  • Operating Income: $80.1 Mil
  • GF Value™: $1.41 vs. price of $2.18 (54.6% above fair value)
  • GF Score™: 71/100 with 8 warning signs

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


Bursa Malaysia Bhd Business Description

Other Exchanges 1818:Malaysia
Address Exchange Square, 15th Floor, Bukit Kewangan, Kuala Lumpur, MYS, 50200
Bursa Malaysia Bhd operates as an exchange holding company, whose principal activities are treasury management and the provision of management and administrative services to its subsidiaries. Through its subsidiaries it operates the Malaysian securities, derivatives, multi-environment product market, debt fundraising and offshore financial exchanges and the Shariah-compliant commodity and precious metals trading platform, to operate the related clearing houses, depository function and regulatory function, and to disseminate information relating to instruments quoted on the exchanges. Its six segments include: Securities Market, Derivatives Market, Islamic Market, Data Business, Exchange, Holding Company, and Others, of which Securities Market segment derives maximum revenue.
71GF Score

Get the complete analysis for BSMAF

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

$2.18
Price
$1.41
GF Value