Forest Products Export of Quang Nam JSC (HSTC:FRC) Operating Income: ₫5,576 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.

HSTC:FRC Forest Products Export of Quang Nam JSC HSTC:FRC
59 GF Score
Price ₫25,000.00
GF Value ₫16,914.03
Valuation Significantly Overvalued
! 9 Warning Signs
View Full Analysis

What is Forest Products Export of Quang Nam JSC Operating Income?

Forest Products Export of Quang Nam JSC HSTC:FRC 59 Operating Income is ₫5,576 Mil as of Dec. 2025. GuruFocus rates HSTC:FRC with a GF Score™ of 59/100 and a GF Value™ of ₫16,914.03 (Significantly Overvalued). The stock has 9 warning signs investors should review.

Forest Products Export of Quang Nam JSC's Operating Income for the six months ended in Dec. 2025 was ₫5,576 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was ₫5,576 Mil.

Warning Sign:

Forest Products Export of Quang Nam JSC 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. Forest Products Export of Quang Nam JSC's Operating Income for the six months ended in Dec. 2025 was ₫5,576 Mil. Forest Products Export of Quang Nam JSC's Revenue for the six months ended in Dec. 2025 was ₫119,223 Mil. Therefore, Forest Products Export of Quang Nam JSC's Operating Margin % for the quarter that ended in Dec. 2025 was 4.68%.

Forest Products Export of Quang Nam JSC's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Forest Products Export of Quang Nam JSC's annualized ROC % for the quarter that ended in Dec. 2025 was 3.00%. Forest Products Export of Quang Nam JSC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 14.86%.

Forest Products Export of Quang Nam JSC  (HSTC:FRC) Operating Income Explanation

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

Forest Products Export of Quang Nam JSC'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: Dec. 2024 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=5575.726 * ( 1 - 18.65% )/( (131182.562 + 170919.931)/ 2 )
=4535.853101/151051.2465
=3.00 %

where

Invested Capital(Q: Dec. 2024 )
=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))
=260404.112 - 36043.721 - ( 109515.128 - max(0, 97207.699 - 190385.528+109515.128))
=131182.562

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))
=326565.548 - 30690.638 - ( 174206.692 - max(0, 156542.485 - 281497.464+174206.692))
=170919.931

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

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

Forest Products Export of Quang Nam JSC'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: Dec. 2024  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=13260.033/( ( (24718.306 + max(54880.944, 0)) + (12823.142 + max(86013.61, 0)) )/ 2 )
=13260.033/( ( 79599.25 + 98836.752 )/ 2 )
=13260.033/89218.001
=14.86 %

where Working Capital is:

Working Capital(Q: Dec. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(52043.318 + 38182.962 + 10035.939) - (36043.721 + 0 + 9337.554)
=54880.944

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(48499.447 + 36722.252 + 41833.557) - (30690.638 + 0 + 10351.008)
=86013.61

When net working capital is negative, 0 is used.

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

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

Forest Products Export of Quang Nam JSC'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 )
=5575.726/119223.293
=4.68 %

* 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.

Forest Products Export of Quang Nam JSC Operating Income Related Terms

Forest Products Export of Quang Nam JSC Operating Income Historical Data

* Premium members only.

The historical data trend for Forest Products Export of Quang Nam JSC'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.

Forest Products Export of Quang Nam JSC Operating Income Chart

Forest Products Export of Quang Nam JSC Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only 42,540.12 28,172.08 -2,777.12 9,520.17 5,575.73

Forest Products Export of Quang Nam JSC Semi-Annual Data
Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income Get a 7-Day Free Trial Premium Member Only 42,540.12 28,172.08 -2,777.12 9,520.17 5,575.73
HSTC:FRC
59GF Score
Forest Products Export of Quang Nam JSC HSTC:FRC
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Forest Products Export of Quang Nam JSC 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was ₫5,576 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 ₫5,576 Mil mean?
Forest Products Export of Quang Nam JSC (HSTC:FRC) has a Operating Income of ₫5,576 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Forest Products Export of Quang Nam JSC and its competitors.
Is Forest Products Export of Quang Nam JSC's Operating Income too high?
Forest Products Export of Quang Nam JSC's current Operating Income is ₫5,576 Mil. Overall, Forest Products Export of Quang Nam JSC has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forest Products Export of Quang Nam JSC's Operating Income compare to SN and SGI?
Forest Products Export of Quang Nam JSC's Operating Income of ₫5,576 Mil can be compared against companies in the Furnishings, Fixtures & Appliances 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 Furnishings, Fixtures & Appliances company?
A good Operating Income depends on the Furnishings, Fixtures & Appliances 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 Forest Products Export of Quang Nam JSC and its competitors. Forest Products Export of Quang Nam JSC's current Operating Income is ₫5,576 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forest Products Export of Quang Nam JSC stock overvalued right now?
Based on GuruFocus' analysis, Forest Products Export of Quang Nam JSC (HSTC:FRC) is currently considered Significantly Overvalued. The stock's GF Value™ is ₫16,914.03, compared to a current price of ₫25,000.00 — trading 47.8% above its estimated fair value. The current Operating Income is ₫5,576 Mil. Forest Products Export of Quang Nam JSC's overall GF Score™ is 59/100 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 Forest Products Export of Quang Nam JSC (HSTC:FRC), the current Operating Income is ₫5,576 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 Forest Products Export of Quang Nam JSC (HSTC:FRC) Overvalued in 2026?

Based on GuruFocus' analysis, Forest Products Export of Quang Nam JSC stock appears to be overvalued. The current stock price of ₫25,000.00 is trading 47.8% above its estimated GF Value™ of ₫16,914.03. GuruFocus considers Forest Products Export of Quang Nam JSC to be Significantly Overvalued.

Key valuation signals for HSTC:FRC:

  • Operating Income: ₫5,576 Mil
  • GF Value™: ₫16,914.03 vs. price of ₫25,000.00 (47.8% above fair value)
  • GF Score™: 59/100 with 9 warning signs

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

Forest Products Export of Quang Nam JSC Business Description

Address 210 Tran Hung Dao Street, Dien Ngoc Ward, Dien Ban Town, Quang Nam, VNM
Forest Products Export of Quang Nam JSC specializing in manufacturing outdoor and indoor furniture in Vietnam. Its products include Bench with central table; Folding Armchair; Position Chair; Bar Chair and Other.
59GF Score

Get the complete analysis for HSTC:FRC

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

₫25,000.00
Price
₫16,914.03
GF Value