Medigen Biotechnology (ROCO:3176) Operating Income: NT$-322 Mil (TTM As of Mar. 2026)

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ROCO:3176 Medigen Biotechnology Corp ROCO:3176
55 GF Score
Price NT$33.75
GF Value NT$36.99
Valuation Fairly Valued
! 4 Warning Signs
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What is Medigen Biotechnology Operating Income?

Medigen Biotechnology ROCO:3176 -1.17% 55 Operating Income is NT$-322 Mil as of Mar. 2026. GuruFocus rates ROCO:3176 with a GF Score™ of 55/100 and a GF Value™ of NT$36.99 (Fairly Valued). The stock has 4 warning signs investors should review.

Medigen Biotechnology's Operating Income for the three months ended in Mar. 2026 was NT$-67 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was NT$-322 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Medigen Biotechnology's Operating Income for the three months ended in Mar. 2026 was NT$-67 Mil. Medigen Biotechnology's Revenue for the three months ended in Mar. 2026 was NT$261 Mil. Therefore, Medigen Biotechnology's Operating Margin % for the quarter that ended in Mar. 2026 was -25.66%.

Medigen Biotechnology'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. Medigen Biotechnology's annualized ROC % for the quarter that ended in Mar. 2026 was -7.50%. Medigen Biotechnology's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -10.69%.


Medigen Biotechnology  (ROCO:3176) Operating Income Explanation

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

Medigen Biotechnology'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 )
=-268.372 * ( 1 - 0% )/( (3353.819 + 3801.117)/ 2 )
=-268.372/3577.468
=-7.50 %

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))
=6180.925 - 299.916 - ( 2527.19 - max(0, 744.65 - 3486.91+2527.19))
=3353.819

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))
=6947.402 - 275.629 - ( 2870.656 - max(0, 716.374 - 3878.09+2870.656))
=3801.117

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

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

Medigen Biotechnology'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 )
=-254.008/( ( (1867.243 + max(376.006, 0)) + (2033.948 + max(474.341, 0)) )/ 2 )
=-254.008/( ( 2243.249 + 2508.289 )/ 2 )
=-254.008/2375.769
=-10.69 %

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)
=(197.468 + 581.267 + 84.253) - (299.916 + 0 + 187.066)
=376.006

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(174.55 + 651.813 + 107.167) - (275.629 + 0 + 183.56)
=474.341

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 %:

Medigen Biotechnology'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 )
=-67.093/261.496
=-25.66 %

* 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.


Medigen Biotechnology Operating Income Related Terms


Medigen Biotechnology Operating Income Historical Data

* Premium members only.

The historical data trend for Medigen Biotechnology'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.

Medigen Biotechnology Operating Income Chart

Medigen Biotechnology 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 767.35 -1,645.84 -1,218.65 -210.72 -105.03

Medigen Biotechnology 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 149.55 -58.18 -38.15 -158.24 -67.09
ROCO:3176
55GF Score
Medigen Biotechnology Corp ROCO:3176
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Medigen Biotechnology 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$-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 NT$-322 Mil mean?
Medigen Biotechnology (ROCO:3176) has a Operating Income of NT$-322 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Medigen Biotechnology and its competitors.
Is Medigen Biotechnology's Operating Income too high?
Medigen Biotechnology's current Operating Income is NT$-322 Mil. Overall, Medigen Biotechnology has a GF Score™ of 55/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Medigen Biotechnology's Operating Income compare to VRTX and REGN?
Medigen Biotechnology's Operating Income of NT$-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 Medigen Biotechnology and its competitors. Medigen Biotechnology's current Operating Income is NT$-322 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Medigen Biotechnology stock overvalued right now?
Based on GuruFocus' analysis, Medigen Biotechnology (ROCO:3176) is currently considered Fairly Valued. The stock's GF Value™ is NT$36.99, compared to a current price of NT$33.75 — trading 8.8% below its estimated fair value. The current Operating Income is NT$-322 Mil. Medigen Biotechnology's overall GF Score™ is 55/100 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 Medigen Biotechnology (ROCO:3176), the current Operating Income is NT$-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 Medigen Biotechnology (ROCO:3176) Overvalued in 2026?

Based on GuruFocus' analysis, Medigen Biotechnology stock appears to be undervalued. The current stock price of NT$33.75 is trading 8.8% below its estimated GF Value™ of NT$36.99. GuruFocus considers Medigen Biotechnology to be Fairly Valued.

Key valuation signals for ROCO:3176:

  • Operating Income: NT$-322 Mil
  • GF Value™: NT$36.99 vs. price of NT$33.75 (8.8% below fair value)
  • GF Score™: 55/100 with 4 warning signs

No single metric tells the full story. See the ROCO:3176 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Medigen Biotechnology Business Description

Address Yuancyu Street, 14F, Building No.3,, Nangang District, Taipei, TWN, 11560
Medigen Biotechnology Corp is engaged in the research and development of new drugs and vaccines, cytotherapy, nucleic acid testing, and the production and sales of generic drugs, aesthetic medicine products and vaccine-related products. Its segments are the Nucleic acid department, the New drug and vaccine research and development segment, the Cytotherapy department, and the Generic drug, aesthetic medicine product and dietary supplement segment: responsible for production and sales and relevant services of western medicine, aesthetic medicine product, and dietary supplement. The majority of revenue is derived from generic drugs, aesthetic medicine products, and the dietary supplement segment. Geographically, it operates in Taiwan, China, and Other countries with revenue from Taiwan.
55GF Score

Get the complete analysis for ROCO:3176

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

NT$33.75
Price
NT$36.99
GF Value