Fulltech Fiber Glass (ROCO:1815) Operating Income: NT$1,062 Mil (TTM As of Mar. 2026)

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ROCO:1815 Fulltech Fiber Glass Corp ROCO:1815
66 GF Score
Price NT$66.30
GF Value NT$40.45
Valuation Significantly Overvalued
! 1 Warning Sign
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What is Fulltech Fiber Glass Operating Income?

Fulltech Fiber Glass ROCO:1815 +9.95% 66 Operating Income is NT$1,062 Mil as of Mar. 2026. GuruFocus rates ROCO:1815 with a GF Score™ of 66/100 and a GF Value™ of NT$40.45 (Significantly Overvalued). The stock has 1 warning sign investors should review.

Fulltech Fiber Glass's Operating Income for the three months ended in Mar. 2026 was NT$402 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was NT$1,062 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Fulltech Fiber Glass's Operating Income for the three months ended in Mar. 2026 was NT$402 Mil. Fulltech Fiber Glass's Revenue for the three months ended in Mar. 2026 was NT$1,881 Mil. Therefore, Fulltech Fiber Glass's Operating Margin % for the quarter that ended in Mar. 2026 was 21.37%.

Fulltech Fiber Glass'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. Fulltech Fiber Glass's annualized ROC % for the quarter that ended in Mar. 2026 was 8.77%. Fulltech Fiber Glass's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 15.92%.


Fulltech Fiber Glass  (ROCO:1815) Operating Income Explanation

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

Fulltech Fiber Glass'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 )
=1608.144 * ( 1 - 15.66% )/( (14958.281 + 15981.939)/ 2 )
=1356.3086496/15470.11
=8.77 %

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))
=18445.939 - 1139.247 - ( 2348.411 - max(0, 2399.258 - 6650.606+2348.411))
=14958.281

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))
=19506.11 - 1149.757 - ( 2374.414 - max(0, 2083.591 - 6997.72+2374.414))
=15981.939

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

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

Fulltech Fiber Glass'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 )
=2314.22/( ( (11124.002 + max(2920.565, 0)) + (11808.318 + max(3226.226, 0)) )/ 2 )
=2314.22/( ( 14044.567 + 15034.544 )/ 2 )
=2314.22/14539.5555
=15.92 %

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)
=(2058.253 + 2058.46 + 86.045) - (1139.247 + 0 + 142.946)
=2920.565

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2308.091 + 2092.79 + 94.117999999999) - (1149.757 + 0 + 119.016)
=3226.226

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 %:

Fulltech Fiber Glass'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 )
=402.036/1881.439
=21.37 %

* 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.


Fulltech Fiber Glass Operating Income Related Terms


Fulltech Fiber Glass Operating Income Historical Data

* Premium members only.

The historical data trend for Fulltech Fiber Glass'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.

Fulltech Fiber Glass Operating Income Chart

Fulltech Fiber Glass 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 704.28 223.17 -522.74 90.16 932.50

Fulltech Fiber Glass 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 272.21 202.01 258.87 199.41 402.04
ROCO:1815
66GF Score
Fulltech Fiber Glass Corp ROCO:1815
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Fulltech Fiber Glass 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 NT$1,062 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 NT$1,062 Mil mean?
Fulltech Fiber Glass (ROCO:1815) has a Operating Income of NT$1,062 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Fulltech Fiber Glass and its competitors.
Is Fulltech Fiber Glass' Operating Income too high?
Fulltech Fiber Glass' current Operating Income is NT$1,062 Mil. Overall, Fulltech Fiber Glass has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fulltech Fiber Glass' Operating Income compare to APH and GLW?
Fulltech Fiber Glass' Operating Income of NT$1,062 Mil can be compared against companies in the Hardware 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 Hardware company?
A good Operating Income depends on the Hardware 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 Fulltech Fiber Glass and its competitors. Fulltech Fiber Glass's current Operating Income is NT$1,062 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fulltech Fiber Glass stock overvalued right now?
Based on GuruFocus' analysis, Fulltech Fiber Glass (ROCO:1815) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$40.45, compared to a current price of NT$66.30 — trading 63.9% above its estimated fair value. The current Operating Income is NT$1,062 Mil. Fulltech Fiber Glass' overall GF Score™ is 66/100 with 1 warning sign 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 Fulltech Fiber Glass (ROCO:1815), the current Operating Income is NT$1,062 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 Fulltech Fiber Glass (ROCO:1815) Overvalued in 2026?

Based on GuruFocus' analysis, Fulltech Fiber Glass stock appears to be overvalued. The current stock price of NT$66.30 is trading 63.9% above its estimated GF Value™ of NT$40.45. GuruFocus considers Fulltech Fiber Glass to be Significantly Overvalued.

Key valuation signals for ROCO:1815:

  • Operating Income: NT$1,062 Mil
  • GF Value™: NT$40.45 vs. price of NT$66.30 (63.9% above fair value)
  • GF Score™: 66/100 with 1 warning sign

No single metric tells the full story. See the ROCO:1815 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Fulltech Fiber Glass Business Description

Address No. 8, Dougong 16th Road, Yunlin County, Douliu, TWN
Fulltech Fiber Glass Corp is engaged in producing and selling fiberglass yarn and fiberglass fabric, which are the main upstream materials for Printed Circuit Boards. The reportable segments of the company are the Fiberglass Yarn and the Fiberglass Fabric segment. Geographically, the company generates a majority of its revenue from Taiwan and the rest from China.
66GF Score

Get the complete analysis for ROCO:1815

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

NT$66.30
Price
NT$40.45
GF Value