CYD (China Yuchai International) Operating Income: $137 Mil (TTM As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

CYD China Yuchai International Ltd CYD
73 GF Score
Price $45.07
GF Value $17.92
Valuation Significantly Overvalued
! 2 Warning Signs
View Full Analysis

What is China Yuchai International Operating Income?

China Yuchai International CYD -1.68% 73 Operating Income is $137 Mil as of Dec. 2025. GuruFocus rates CYD with a GF Score™ of 73/100 and a GF Value™ of $17.92 (Significantly Overvalued). The stock has 2 warning signs investors should review.

China Yuchai International's Operating Income for the six months ended in Dec. 2025 was $51 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $137 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. China Yuchai International's Operating Income for the six months ended in Dec. 2025 was $51 Mil. China Yuchai International's Revenue for the six months ended in Dec. 2025 was $1,541 Mil. Therefore, China Yuchai International's Operating Margin % for the quarter that ended in Dec. 2025 was 3.29%.

Warning Sign:

China Yuchai International Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -3.2%.

China Yuchai International'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. China Yuchai International's annualized ROC % for the quarter that ended in Dec. 2025 was %. China Yuchai International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 22.10%.


China Yuchai International  (NYSE:CYD) Operating Income Explanation

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

China Yuchai International'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 )
=101.45 * ( 1 - 43.64% )/( (-1659.725 + 1585.37)/ 2 )
=57.17722/-37.1775
= %

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))
=4537.497 - 1947.481 - ( 1114.773 - max(0, 2566.912 - 3571.558+1114.773))
=1585.37

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:

China Yuchai International'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 )
=145.618/( ( (0 + max(768.83, 0)) + (549.234 + max(-1095.753, 0)) )/ 2 )
=145.618/( ( 768.83 + 549.234 )/ 2 )
=145.618/659.032
=22.10 %

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)
=(1775.105 + 653.45 + 0) - (1659.725 + 0 + 0)
=768.83

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(349.121 + 792.757 + 40.252) - (1947.481 + 148.605 + 181.797)
=-1095.753

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 %:

China Yuchai International'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 )
=50.725/1541.289
=3.29 %

* 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.


China Yuchai International Operating Income Related Terms


China Yuchai International Operating Income Historical Data

* Premium members only.

The historical data trend for China Yuchai International'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.

China Yuchai International Operating Income Chart

China Yuchai International 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 80.31 53.77 51.97 64.48 139.00

China Yuchai International 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 -2.33 60.22 4.47 86.59 50.73
CYD
73GF Score
China Yuchai International Ltd CYD
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

China Yuchai International 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 $137 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 $137 Mil mean?
China Yuchai International (CYD) has a Operating Income of $137 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on China Yuchai International and its competitors.
Is China Yuchai International's Operating Income too high?
China Yuchai International's current Operating Income is $137 Mil. Overall, China Yuchai International has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does China Yuchai International's Operating Income compare to PSNY and LCID?
China Yuchai International's Operating Income of $137 Mil can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good Operating Income depends on the Vehicles & Parts 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 China Yuchai International and its competitors. China Yuchai International's current Operating Income is $137 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Yuchai International stock overvalued right now?
Based on GuruFocus' analysis, China Yuchai International (CYD) is currently considered Significantly Overvalued. The stock's GF Value™ is $17.92, compared to a current price of $45.07 — trading 151.5% above its estimated fair value. The current Operating Income is $137 Mil. China Yuchai International's overall GF Score™ is 73/100 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 China Yuchai International (CYD), the current Operating Income is $137 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 China Yuchai International (CYD) Overvalued in 2026?

Based on GuruFocus' analysis, China Yuchai International stock appears to be overvalued. The current stock price of $45.07 is trading 151.5% above its estimated GF Value™ of $17.92. GuruFocus considers China Yuchai International to be Significantly Overvalued.

Key valuation signals for CYD:

  • Operating Income: $137 Mil
  • GF Value™: $17.92 vs. price of $45.07 (151.5% above fair value)
  • GF Score™: 73/100 with 2 warning signs

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


China Yuchai International Business Description

Other Exchanges CYD:Germany
Address 16 Raffles Quay, No. 39-01A, Hong Leong Building, Singapore, SGP, 048581
China Yuchai International Ltd is a Bermuda holding company that is a subsidiary of Singapore-based Hong Leong Asia. China Yuchai International operates through its majority-owned subsidiary Guangxi Yuchai Machinery Company, a China-based company that manufactures, assembles, and distributes diesel engines for various vehicles including trucks, buses, and cars, as well as construction and agricultural, marine, and power-generation equipment. It generates the majority of its sales from the Chinese market.
73GF Score

Get the complete analysis for CYD

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

$45.07
Price
$17.92
GF Value