FSRCY (First Resources) Operating Income: $495 Mil (TTM As of Dec. 2025)


FSRCY First Resources Ltd FSRCY
80 GF Score
Price $238.46
GF Value $189.65
Valuation Modestly Overvalued
! 3 Warning Signs
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What is First Resources Operating Income?

First Resources FSRCY 80 Operating Income is $495 Mil as of Dec. 2025. GuruFocus rates FSRCY with a GF Score™ of 80/100 and a GF Value™ of $189.65 (Modestly Overvalued). The stock has 3 warning signs investors should review.

First Resources's Operating Income for the six months ended in Dec. 2025 was $286 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $495 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. First Resources's Operating Income for the six months ended in Dec. 2025 was $286 Mil. First Resources's Revenue for the six months ended in Dec. 2025 was $987 Mil. Therefore, First Resources's Operating Margin % for the quarter that ended in Dec. 2025 was 28.97%.

Good Sign:

First Resources Ltd operating margin is expanding. Margin expansion is usually a good sign.

First Resources's 5-Year average Growth Rate for Operating Margin % was 1.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. First Resources's annualized ROC % for the quarter that ended in Dec. 2025 was 17.71%. First Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 31.35%.

First Resources  (OTCPK:FSRCY) Operating Income Explanation

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

First Resources'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 )
=571.944 * ( 1 - 22.84% )/( (2459.451 + 2525.396)/ 2 )
=441.3119904/2492.4235
=17.71 %

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))
=2747.873 - 130.789 - ( 157.633 - max(0, 257.391 - 741.126+157.633))
=2459.451

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))
=2892.558 - 77.76 - ( 289.402 - max(0, 304.186 - 828.374+289.402))
=2525.396

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:

First Resources'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 )
=615.482/( ( (1631.623 + max(362.729, 0)) + (1609.961 + max(321.61, 0)) )/ 2 )
=615.482/( ( 1994.352 + 1931.571 )/ 2 )
=615.482/1962.9615
=31.35 %

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)
=(150.855 + 303.669 + 122.984) - (130.789 + 0 + 83.99)
=362.729

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(124.574 + 324.15 + 80.26) - (77.76 + 0 + 129.614)
=321.61

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 %:

First Resources'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 )
=285.972/987.203
=28.97 %

* 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.

First Resources Operating Income Related Terms

First Resources Operating Income Historical Data

* Premium members only.

The historical data trend for First Resources'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.

First Resources Operating Income Chart

First Resources 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 244.99 417.88 198.06 337.01 494.62

First Resources 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 101.66 143.50 193.52 208.65 285.97
FSRCY
80GF Score
First Resources Ltd FSRCY
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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First Resources 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 $495 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 $495 Mil mean?
First Resources (FSRCY) has a Operating Income of $495 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on First Resources and its competitors.
Is First Resources' Operating Income too high?
First Resources' current Operating Income is $495 Mil. Overall, First Resources has a GF Score™ of 80/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Resources' Operating Income compare to KHC and GIS?
First Resources' Operating Income of $495 Mil can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Operating Income depends on the Consumer Packaged Goods 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 First Resources and its competitors. First Resources's current Operating Income is $495 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Resources stock overvalued right now?
Based on GuruFocus' analysis, First Resources (FSRCY) is currently considered Modestly Overvalued. The stock's GF Value™ is $189.65, compared to a current price of $238.46 — trading 25.7% above its estimated fair value. The current Operating Income is $495 Mil. First Resources' overall GF Score™ is 80/100 with 3 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 First Resources (FSRCY), the current Operating Income is $495 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 First Resources (FSRCY) Overvalued in 2026?

Based on GuruFocus' analysis, First Resources stock appears to be overvalued. The current stock price of $238.46 is trading 25.7% above its estimated GF Value™ of $189.65. GuruFocus considers First Resources to be Modestly Overvalued.

Key valuation signals for FSRCY:

  • Operating Income: $495 Mil
  • GF Value™: $189.65 vs. price of $238.46 (25.7% above fair value)
  • GF Score™: 80/100 with 3 warning signs

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

First Resources Business Description

Other Exchanges EB5:Singapore5F1:Germany
Address 7 Temasek Boulevard, No. 24-01, Suntec Tower One, Singapore, SGP, 038987
First Resources Ltd manages hectares of oil palm plantations located in Indonesia and mills fresh fruit bunches into crude palm oil and palm kernel. In addition, the group also processes crude palm oil and palm kernel into higher-value palm-based products such as refined, bleached, and deodorized olein and biodiesel. The operating segment of the company is Plantations, Palm Oil Mills & Refinery and Processing. The plantations and palm oil mills segment is principally involved in the cultivation and maintenance of oil palm plantations and the operation of palm oil mills. Refinery and processing segment markets and sells processed palm-based products produced from the refinery, fractionation and biodiesel plants, and other downstream processing facilities.
80GF Score

Get the complete analysis for FSRCY

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

$238.46
Price
$189.65
GF Value