PHBBF (Pharmaron Beijing Co) Operating Income: $322 Mil (TTM As of Mar. 2026)

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.

PHBBF Pharmaron Beijing Co Ltd PHBBF
90 GF Score
Price $1.93
GF Value $1.67
! 9 Warning Signs
View Full Analysis

What is Pharmaron Beijing Co Operating Income?

Pharmaron Beijing Co PHBBF 90 Operating Income is $322 Mil as of Mar. 2026. GuruFocus rates PHBBF with a GF Score™ of 90/100 and a GF Value™ of $1.67. The stock has 9 warning signs investors should review.

Pharmaron Beijing Co's Operating Income for the three months ended in Mar. 2026 was $72 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $322 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Pharmaron Beijing Co's Operating Income for the three months ended in Mar. 2026 was $72 Mil. Pharmaron Beijing Co's Revenue for the three months ended in Mar. 2026 was $519 Mil. Therefore, Pharmaron Beijing Co's Operating Margin % for the quarter that ended in Mar. 2026 was 13.86%.

Warning Sign:

Pharmaron Beijing Co Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -6.7%.

Pharmaron Beijing Co's 5-Year average Growth Rate for Operating Margin % was -6.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Pharmaron Beijing Co's annualized ROC % for the quarter that ended in Mar. 2026 was 5.96%. Pharmaron Beijing Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 13.52%.


Pharmaron Beijing Co  (OTCPK:PHBBF) Operating Income Explanation

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

Pharmaron Beijing 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 )
=287.812 * ( 1 - 24.8% )/( (3576.365 + 3686.28)/ 2 )
=216.434624/3631.3225
=5.96 %

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))
=3846.8 - 353.613 - ( 245.848 - max(0, 1187.529 - 1104.351+245.848))
=3576.365

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))
=4144.122 - 359.149 - ( 431.935 - max(0, 1214.487 - 1313.18+431.935))
=3686.28

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

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

Pharmaron Beijing 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 )
=269.48/( ( (1674.966 + max(284.698, 0)) + (1743.527 + max(284.307, 0)) )/ 2 )
=269.48/( ( 1959.664 + 2027.834 )/ 2 )
=269.48/1993.749
=13.52 %

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)
=(384.357 + 209.039 + 184.66) - (353.613 + 0 + 139.745)
=284.698

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(386.083 + 245.741 + 161.699) - (359.149 + 0 + 150.067)
=284.307

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 %:

Pharmaron Beijing 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 )
=71.953/519.207
=13.86 %

* 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.


Pharmaron Beijing Co Operating Income Related Terms


Pharmaron Beijing Co Operating Income Historical Data

* Premium members only.

The historical data trend for Pharmaron Beijing 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.

Pharmaron Beijing Co Operating Income Chart

Pharmaron Beijing 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 239.41 251.10 256.76 256.07 315.87

Pharmaron Beijing Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 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 61.46 73.31 75.84 101.18 71.95
PHBBF
90GF Score
Pharmaron Beijing Co Ltd PHBBF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pharmaron Beijing 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 $322 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 $322 Mil mean?
Pharmaron Beijing Co (PHBBF) has a Operating Income of $322 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Pharmaron Beijing Co and its competitors.
Is Pharmaron Beijing Co's Operating Income too high?
Pharmaron Beijing Co's current Operating Income is $322 Mil. Overall, Pharmaron Beijing Co has a GF Score™ of 90/100, reflecting its overall financial health beyond just this single metric.
How does Pharmaron Beijing Co's Operating Income compare to VRTX and REGN?
Pharmaron Beijing Co's Operating Income of $322 Mil can be compared against companies in the Biotechnology 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 Biotechnology company?
A good Operating Income depends on the Biotechnology 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 Pharmaron Beijing Co and its competitors. Pharmaron Beijing Co's current Operating Income is $322 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pharmaron Beijing Co stock overvalued right now?
Pharmaron Beijing Co (PHBBF) has a current Operating Income of $322 Mil. The stock's GF Value™ is $1.67, compared to a current price of $1.93 — trading 15.6% above its estimated fair value. The current Operating Income is $322 Mil. Pharmaron Beijing Co's overall GF Score™ is 90/100 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 Pharmaron Beijing Co (PHBBF), the current Operating Income is $322 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 Pharmaron Beijing Co (PHBBF) Overvalued in 2026?

Based on GuruFocus' analysis, Pharmaron Beijing Co stock appears to be overvalued. The current stock price of $1.93 is trading 15.6% above its estimated GF Value™ of $1.67.

Key valuation signals for PHBBF:

  • Operating Income: $322 Mil
  • GF Value™: $1.67 vs. price of $1.93 (15.6% above fair value)
  • GF Score™: 90/100 with 9 warning signs

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


Pharmaron Beijing Co Business Description

Address 6 Tai-He Road, 8th Floor, Block 1, Beijing Economic Technological Development Area, Beijing, CHN, 100176
Pharmaron Beijing Co Ltd is a research and development service company supporting the life science industry. The company offers drug research and development service capabilities, ranging from synthetic, medicinal, and analytical chemistry, biology, DMPK, pharmacology, drug safety assessment, radiochemistry, and isotopically labelled metabolism, chemical and pharmaceutical development to clinical development. Its operating segment includes Laboratory services; CMC (small molecule CDMO) services, Clinical development services, and biologics and CGT services. It generates maximum revenue from the Laboratory services segment.
90GF Score

Get the complete analysis for PHBBF

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

$1.93
Price
$1.67
GF Value