FGSGF (Flat Glass Group Co) Operating Income: $249 Mil (TTM As of Mar. 2026)

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FGSGF Flat Glass Group Co Ltd FGSGF
91 GF Score
Price $1.20
GF Value $1.71
! 8 Warning Signs
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What is Flat Glass Group Co Operating Income?

Flat Glass Group Co FGSGF -14.89% 91 Operating Income is $249 Mil as of Mar. 2026. GuruFocus rates FGSGF with a GF Score™ of 91/100 and a GF Value™ of $1.71. The stock has 8 warning signs investors should review.

Flat Glass Group Co's Operating Income for the three months ended in Mar. 2026 was $39 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $249 Mil.

Warning Sign:

Flat Glass Group Co Ltd has recorded a loss in operating income at least once over the past 3 years.

Operating Margin % is calculated as Operating Income divided by its Revenue. Flat Glass Group Co's Operating Income for the three months ended in Mar. 2026 was $39 Mil. Flat Glass Group Co's Revenue for the three months ended in Mar. 2026 was $533 Mil. Therefore, Flat Glass Group Co's Operating Margin % for the quarter that ended in Mar. 2026 was 7.24%.

Warning Sign:

Flat Glass Group Co Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -21.7%.

Flat Glass Group Co's 5-Year average Growth Rate for Operating Margin % was -21.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Flat Glass Group Co's annualized ROC % for the quarter that ended in Mar. 2026 was 2.57%. Flat Glass Group Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 2.63%.


Flat Glass Group Co  (OTCPK:FGSGF) Operating Income Explanation

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

Flat Glass Group Co'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 )
=154.344 * ( 1 - 19.16% )/( (4751.556 + 4959.932)/ 2 )
=124.7716896/4855.744
=2.57 %

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))
=6017.778 - 636.468 - ( 683.029 - max(0, 1113.31 - 1743.064+683.029))
=4751.556

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))
=6174.89 - 636.098 - ( 640.378 - max(0, 1232.062 - 1810.922+640.378))
=4959.932

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

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

Flat Glass Group Co'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 )
=94.348/( ( (3916.513 + max(107.9, 0)) + (3151.225 + max(-208.27, 0)) )/ 2 )
=94.348/( ( 4024.413 + 3151.225 )/ 2 )
=94.348/3587.819
=2.63 %

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)
=(344.83 + 246.356 + 160.654) - (636.468 + 0 + 7.472)
=107.9

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(401.782 + 224.407 + 194.569) - (636.098 + 0 + 392.93)
=-208.27

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 %:

Flat Glass Group Co'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 )
=38.586/533.016
=7.24 %

* 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.


Flat Glass Group Co Operating Income Related Terms


Flat Glass Group Co Operating Income Historical Data

* Premium members only.

The historical data trend for Flat Glass Group Co'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.

Flat Glass Group Co Operating Income Chart

Flat Glass Group Co 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 375.02 349.37 510.22 252.11 247.77

Flat Glass Group Co Quarterly Data
Jun20 Dec20 Jun21 Dec21 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 33.94 59.20 81.23 70.34 38.59
FGSGF
91GF Score
Flat Glass Group Co Ltd FGSGF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Flat Glass Group Co 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 $249 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 $249 Mil mean?
Flat Glass Group Co (FGSGF) has a Operating Income of $249 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Flat Glass Group Co and its competitors.
Is Flat Glass Group Co's Operating Income too high?
Flat Glass Group Co's current Operating Income is $249 Mil. Overall, Flat Glass Group Co has a GF Score™ of 91/100, reflecting its overall financial health beyond just this single metric.
How does Flat Glass Group Co's Operating Income compare to FSLR and NXT?
Flat Glass Group Co's Operating Income of $249 Mil can be compared against companies in the Semiconductors 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 Semiconductors company?
A good Operating Income depends on the Semiconductors 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 Flat Glass Group Co and its competitors. Flat Glass Group Co's current Operating Income is $249 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Flat Glass Group Co stock overvalued right now?
Flat Glass Group Co (FGSGF) has a current Operating Income of $249 Mil. The stock's GF Value™ is $1.71, compared to a current price of $1.20 — trading 29.8% below its estimated fair value. The current Operating Income is $249 Mil. Flat Glass Group Co's overall GF Score™ is 91/100 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 Flat Glass Group Co (FGSGF), the current Operating Income is $249 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 Flat Glass Group Co (FGSGF) Overvalued in 2026?

Based on GuruFocus' analysis, Flat Glass Group Co stock appears to be undervalued. The current stock price of $1.20 is trading 29.8% below its estimated GF Value™ of $1.71.

Key valuation signals for FGSGF:

  • Operating Income: $249 Mil
  • GF Value™: $1.71 vs. price of $1.20 (29.8% below fair value)
  • GF Score™: 91/100 with 8 warning signs

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


Flat Glass Group Co Business Description

Address No. 1999 Yunhe Road, Xiuzhou District, Zhejiang Province, Jiaxing, CHN
Flat Glass Group Co Ltd manufactures and sells glass and glass products. The company operates in six segments: PV glass, Household Glass, Architectural Glass, Float Glass, Mining products, Electricity generation, and Other businesses. The majority of revenue is derived from the PV glass segment. Its geographical segments are PRC, Asia (excluding the PRC), Europe, North America, and Others.
91GF Score

Get the complete analysis for FGSGF

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

$1.20
Price
$1.71
GF Value