PT Goto Gojek Tokopedia Tbk (ISX:GOTO) Operating Income: Rp575,227 Mil (TTM As of Jun. 2026)

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ISX:GOTO PT Goto Gojek Tokopedia Tbk ISX:GOTO
73 GF Score
Price Rp50.00
GF Value Rp82.11
Valuation Possible Value Trap
! 4 Warning Signs
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What is PT Goto Gojek Tokopedia Tbk Operating Income?

PT Goto Gojek Tokopedia Tbk ISX:GOTO 73 Operating Income is Rp575,227 Mil as of Jun. 2026. GuruFocus rates ISX:GOTO with a GF Score™ of 73/100 and a GF Value™ of Rp82.11 (Possible Value Trap). The stock has 4 warning signs investors should review.

PT Goto Gojek Tokopedia Tbk's Operating Income for the three months ended in Jun. 2026 was Rp363,701 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was Rp575,227 Mil.

Warning Sign:

PT Goto Gojek Tokopedia Tbk had lost money in 75% of the time over the past 12quarters.

Operating Margin % is calculated as Operating Income divided by its Revenue. PT Goto Gojek Tokopedia Tbk's Operating Income for the three months ended in Jun. 2026 was Rp363,701 Mil. PT Goto Gojek Tokopedia Tbk's Revenue for the three months ended in Jun. 2026 was Rp5,652,799 Mil. Therefore, PT Goto Gojek Tokopedia Tbk's Operating Margin % for the quarter that ended in Jun. 2026 was 6.43%.

Good Sign:

PT Goto Gojek Tokopedia Tbk operating margin is expanding. Margin expansion is usually a good sign.

PT Goto Gojek Tokopedia Tbk's 5-Year average Growth Rate for Operating Margin % was 65.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. PT Goto Gojek Tokopedia Tbk's annualized ROC % for the quarter that ended in Jun. 2026 was 4.58%. PT Goto Gojek Tokopedia Tbk's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 329.21%.


PT Goto Gojek Tokopedia Tbk  (ISX:GOTO) Operating Income Explanation

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

PT Goto Gojek Tokopedia Tbk's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=1454804 * ( 1 - 26.56% )/( (23188271 + 23473942)/ 2 )
=1068408.0576/23331106.5
=4.58 %

where

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))
=46776631 - 4691057 - ( 23030281 - max(0, 11445261 - 30342564+23030281))
=23188271

Invested Capital(Q: Jun. 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))
=47476833 - 4745009 - ( 21635867 - max(0, 11963536 - 31221418+21635867))
=23473942

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

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

PT Goto Gojek Tokopedia Tbk's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2161376/( ( (616617 + max(-7255830, 0)) + (696469 + max(-5388920, 0)) )/ 2 )
=2161376/( ( 616617 + 696469 )/ 2 )
=2161376/656543
=329.21 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(649707 + 12350 + 1844712) - (4691057 + 0 + 5071542)
=-7255830

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(761857 + 11723 + 3908070) - (4745009 + 0 + 5325561)
=-5388920

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

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

PT Goto Gojek Tokopedia Tbk's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=363701/5652799
=6.43 %

* 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.


PT Goto Gojek Tokopedia Tbk Operating Income Related Terms


PT Goto Gojek Tokopedia Tbk Operating Income Historical Data

* Premium members only.

The historical data trend for PT Goto Gojek Tokopedia Tbk'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.

PT Goto Gojek Tokopedia Tbk Operating Income Chart

PT Goto Gojek Tokopedia Tbk Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial -22,384,656.00 -30,329,628.00 -10,278,970.00 -2,240,874.00 -378,254.00

PT Goto Gojek Tokopedia Tbk Quarterly Data
Jul21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 21,845.00 -50,772.00 -155,885.00 418,183.00 363,701.00
ISX:GOTO
73GF Score
PT Goto Gojek Tokopedia Tbk ISX:GOTO
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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PT Goto Gojek Tokopedia Tbk 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 Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was Rp575,227 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 Rp575,227 Mil mean?
PT Goto Gojek Tokopedia Tbk (ISX:GOTO) has a Operating Income of Rp575,227 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on PT Goto Gojek Tokopedia Tbk and its competitors.
Is PT Goto Gojek Tokopedia Tbk's Operating Income too high?
PT Goto Gojek Tokopedia Tbk's current Operating Income is Rp575,227 Mil. Overall, PT Goto Gojek Tokopedia Tbk has a GF Score™ of 73/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does PT Goto Gojek Tokopedia Tbk's Operating Income compare to MSFT and ORCL?
PT Goto Gojek Tokopedia Tbk's Operating Income of Rp575,227 Mil can be compared against companies in the Software 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 Software company?
A good Operating Income depends on the Software 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 PT Goto Gojek Tokopedia Tbk and its competitors. PT Goto Gojek Tokopedia Tbk's current Operating Income is Rp575,227 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Goto Gojek Tokopedia Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Goto Gojek Tokopedia Tbk (ISX:GOTO) is currently considered Possible Value Trap. The stock's GF Value™ is Rp82.11, compared to a current price of Rp50.00 — trading 39.1% below its estimated fair value. The current Operating Income is Rp575,227 Mil. PT Goto Gojek Tokopedia Tbk's overall GF Score™ is 73/100 with 4 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 PT Goto Gojek Tokopedia Tbk (ISX:GOTO), the current Operating Income is Rp575,227 Mil as of Jun. 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 PT Goto Gojek Tokopedia Tbk (ISX:GOTO) Overvalued in 2026?

Based on GuruFocus' analysis, PT Goto Gojek Tokopedia Tbk stock appears to be undervalued. The current stock price of Rp50.00 is trading 39.1% below its estimated GF Value™ of Rp82.11. GuruFocus considers PT Goto Gojek Tokopedia Tbk to be Possible Value Trap.

Key valuation signals for ISX:GOTO:

  • Operating Income: Rp575,227 Mil
  • GF Value™: Rp82.11 vs. price of Rp50.00 (39.1% below fair value)
  • GF Score™: 73/100 with 4 warning signs

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


PT Goto Gojek Tokopedia Tbk Business Description

Other Exchanges GTOFF:USACK8:Germany
Address Jalan Iskandarsyah II No. 2, Gedung Pasaraya Blok M, 6-7th Floor, Jakarta, IDN, 12160
GoTo is an Indonesian ecosystem that combines ride-hailing, delivery, and financial services under one app. The company operates primarily in Indonesia and is the product of a merger between Gojek and Tokopedia in May 2021, but recently divested the e-commerce business into a combined entity with TikTok Indonesia in 2024. Looking ahead, we expect the financial services business to account for the majority of revenue while its on-demand business begins to become less of a priority. Prior to the deconsolidation, 82% of nonfinancial services' gross transactional value came from e-commerce, and the firm will begin to expand into financial services such as providing loans and buy-now, pay-later programs. The company competes with Grab in the ride-hailing and delivery business.
73GF Score

Get the complete analysis for ISX:GOTO

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

Rp50.00
Price
Rp82.11
GF Value