Harbor Star Shipping Services (PHS:TUGS) Operating Income: ₱146 Mil (TTM As of Mar. 2026)


PHS:TUGS Harbor Star Shipping Services Inc PHS:TUGS
51 GF Score
Price ₱0.80
GF Value ₱0.61
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Harbor Star Shipping Services Operating Income?

Harbor Star Shipping Services PHS:TUGS -1.23% 51 Operating Income is ₱146 Mil as of Mar. 2026. GuruFocus rates PHS:TUGS with a GF Score™ of 51/100 and a GF Value™ of ₱0.61 (Significantly Overvalued). The stock has 6 warning signs investors should review.

Harbor Star Shipping Services's Operating Income for the three months ended in Mar. 2026 was ₱70 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ₱146 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Harbor Star Shipping Services's Operating Income for the three months ended in Mar. 2026 was ₱70 Mil. Harbor Star Shipping Services's Revenue for the three months ended in Mar. 2026 was ₱611 Mil. Therefore, Harbor Star Shipping Services's Operating Margin % for the quarter that ended in Mar. 2026 was 11.50%.

Good Sign:

Harbor Star Shipping Services Inc operating margin is expanding. Margin expansion is usually a good sign.

Harbor Star Shipping Services's 5-Year average Growth Rate for Operating Margin % was 22.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Harbor Star Shipping Services's annualized ROC % for the quarter that ended in Mar. 2026 was 3.19%. Harbor Star Shipping Services's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 6.78%.

Harbor Star Shipping Services  (PHS:TUGS) Operating Income Explanation

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

Harbor Star Shipping Services'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 )
=280.804 * ( 1 - 13.21% )/( (7727.255 + 7569.181)/ 2 )
=243.7097916/7648.218
=3.19 %

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))
=7242.55 - 673.379 - ( 349.151 - max(0, 3208.606 - 2050.522+349.151))
=7727.255

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))
=7172.777 - 629.309 - ( 250.646 - max(0, 3093.595 - 2067.882+250.646))
=7569.181

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

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

Harbor Star Shipping Services'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 )
=363.972/( ( (4616.766 + max(750.166, 0)) + (4489.517 + max(875.368, 0)) )/ 2 )
=363.972/( ( 5366.932 + 5364.885 )/ 2 )
=363.972/5365.9085
=6.78 %

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)
=(1115.033 + 0 + 555.206) - (673.379 + 0 + 246.694)
=750.166

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1207.928 + 0 + 582.026) - (629.309 + 0 + 285.277)
=875.368

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 %:

Harbor Star Shipping Services'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 )
=70.201/610.671
=11.50 %

* 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.

Harbor Star Shipping Services Operating Income Related Terms

Harbor Star Shipping Services Operating Income Historical Data

* Premium members only.

The historical data trend for Harbor Star Shipping Services'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.

Harbor Star Shipping Services Operating Income Chart

Harbor Star Shipping Services 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 115.07 569.49 371.00 335.61 174.07

Harbor Star Shipping Services 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 87.16 54.11 133.94 -112.68 70.20
PHS:TUGS
51GF Score
Harbor Star Shipping Services Inc PHS:TUGS
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Harbor Star Shipping Services 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 ₱146 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 ₱146 Mil mean?
Harbor Star Shipping Services (PHS:TUGS) has a Operating Income of ₱146 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Harbor Star Shipping Services and its competitors.
Is Harbor Star Shipping Services' Operating Income too high?
Harbor Star Shipping Services' current Operating Income is ₱146 Mil. Overall, Harbor Star Shipping Services has a GF Score™ of 51/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Harbor Star Shipping Services' Operating Income compare to competitors?
Harbor Star Shipping Services' Operating Income of ₱146 Mil can be compared against companies in the Transportation 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 Transportation company?
A good Operating Income depends on the Transportation 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 Harbor Star Shipping Services and its competitors. Harbor Star Shipping Services's current Operating Income is ₱146 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harbor Star Shipping Services stock overvalued right now?
Based on GuruFocus' analysis, Harbor Star Shipping Services (PHS:TUGS) is currently considered Significantly Overvalued. The stock's GF Value™ is ₱0.61, compared to a current price of ₱0.80 — trading 31.1% above its estimated fair value. The current Operating Income is ₱146 Mil. Harbor Star Shipping Services' overall GF Score™ is 51/100 with 6 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 Harbor Star Shipping Services (PHS:TUGS), the current Operating Income is ₱146 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 Harbor Star Shipping Services (PHS:TUGS) Overvalued in 2026?

Based on GuruFocus' analysis, Harbor Star Shipping Services stock appears to be overvalued. The current stock price of ₱0.80 is trading 31.1% above its estimated GF Value™ of ₱0.61. GuruFocus considers Harbor Star Shipping Services to be Significantly Overvalued.

Key valuation signals for PHS:TUGS:

  • Operating Income: ₱146 Mil
  • GF Value™: ₱0.61 vs. price of ₱0.80 (31.1% above fair value)
  • GF Score™: 51/100 with 6 warning signs

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

Harbor Star Shipping Services Business Description

Address 2224 A. Bonifacio Street corner Pres. Sergio Osmena Highway, Bangkal, Makati, PHL, 1233
Harbor Star Shipping Services Inc is an integrated maritime service provider. The service lines include harbor assistance, lighterage, towing, ship salvage, marine construction, repair, and maintenance works, wreck removal, firefighting, oil spill abatement and recovery, handling hazardous chemicals, ship and crew management, diving, and underwater marine works. Other marine services include oil and chemical spill response, diving and underwater work, and ship and crew management. The company operates in two segments: Harbor assistance and Renewable energy. It generates maximum revenue from the Harbor assistance segment.
51GF Score

Get the complete analysis for PHS:TUGS

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

₱0.80
Price
₱0.61
GF Value