Toplus Global Co (ROCO:3522) Operating Income: NT$-184 Mil (TTM As of Mar. 2026)

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ROCO:3522 Toplus Global Co Ltd ROCO:3522
46 GF Score
Price NT$11.70
GF Value NT$16.35
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Toplus Global Co Operating Income?

Toplus Global Co ROCO:3522 -0.43% 46 Operating Income is NT$-184 Mil as of Mar. 2026. GuruFocus rates ROCO:3522 with a GF Score™ of 46/100 and a GF Value™ of NT$16.35 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Toplus Global Co's Operating Income for the three months ended in Mar. 2026 was NT$48 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was NT$-184 Mil.

Warning Sign:

Toplus Global Co Ltd had lost money in 75% of the time over the past 12quarters.

Operating Margin % is calculated as Operating Income divided by its Revenue. Toplus Global Co's Operating Income for the three months ended in Mar. 2026 was NT$48 Mil. Toplus Global Co's Revenue for the three months ended in Mar. 2026 was NT$470 Mil. Therefore, Toplus Global Co's Operating Margin % for the quarter that ended in Mar. 2026 was 10.19%.

Good Sign:

Toplus Global Co Ltd operating margin is expanding. Margin expansion is usually a good sign.

Toplus Global Co's 5-Year average Growth Rate for Operating Margin % was 13.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Toplus Global Co's annualized ROC % for the quarter that ended in Mar. 2026 was 7.44%. Toplus Global Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 15.90%.


Toplus Global Co  (ROCO:3522) Operating Income Explanation

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

Toplus Global 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 )
=191.528 * ( 1 - 1.03% )/( (2605.906 + 2488.899)/ 2 )
=189.5552616/2547.4025
=7.44 %

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))
=2260.331 - 209.308 - ( 382.512 - max(0, 1060.577 - 505.694+382.512))
=2605.906

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))
=2486.496 - 200.574 - ( 650.581 - max(0, 969.224 - 766.247+650.581))
=2488.899

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

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

Toplus Global 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 )
=189.424/( ( (1205.008 + max(-361.205, 0)) + (1177.889 + max(-319.621, 0)) )/ 2 )
=189.424/( ( 1205.008 + 1177.889 )/ 2 )
=189.424/1191.4485
=15.90 %

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)
=(40.592 + 45.526 + 33.422) - (209.308 + 0 + 271.437)
=-361.205

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(36.02 + 44.348 + 30.658) - (200.574 + 0 + 230.073)
=-319.621

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 %:

Toplus Global 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 )
=47.882/469.845
=10.19 %

* 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.


Toplus Global Co Operating Income Related Terms


Toplus Global Co Operating Income Historical Data

* Premium members only.

The historical data trend for Toplus Global 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.

Toplus Global Co Operating Income Chart

Toplus Global 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 -325.17 -191.13 -109.07 -198.21 -215.98

Toplus Global 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 15.57 -82.59 -113.19 -35.77 47.88
ROCO:3522
46GF Score
Toplus Global Co Ltd ROCO:3522
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Toplus Global 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 NT$-184 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$-184 Mil mean?
Toplus Global Co (ROCO:3522) has a Operating Income of NT$-184 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Toplus Global Co and its competitors.
Is Toplus Global Co's Operating Income too high?
Toplus Global Co's current Operating Income is NT$-184 Mil. Overall, Toplus Global Co has a GF Score™ of 46/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Toplus Global Co's Operating Income compare to MCD and SBUX?
Toplus Global Co's Operating Income of NT$-184 Mil can be compared against companies in the Restaurants 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 Restaurants company?
A good Operating Income depends on the Restaurants 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 Toplus Global Co and its competitors. Toplus Global Co's current Operating Income is NT$-184 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toplus Global Co stock overvalued right now?
Based on GuruFocus' analysis, Toplus Global Co (ROCO:3522) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$16.35, compared to a current price of NT$11.70 — trading 28.4% below its estimated fair value. The current Operating Income is NT$-184 Mil. Toplus Global Co's overall GF Score™ is 46/100 with 5 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 Toplus Global Co (ROCO:3522), the current Operating Income is NT$-184 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 Toplus Global Co (ROCO:3522) Overvalued in 2026?

Based on GuruFocus' analysis, Toplus Global Co stock appears to be undervalued. The current stock price of NT$11.70 is trading 28.4% below its estimated GF Value™ of NT$16.35. GuruFocus considers Toplus Global Co to be Modestly Undervalued.

Key valuation signals for ROCO:3522:

  • Operating Income: NT$-184 Mil
  • GF Value™: NT$16.35 vs. price of NT$11.70 (28.4% below fair value)
  • GF Score™: 46/100 with 5 warning signs

No single metric tells the full story. See the ROCO:3522 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Toplus Global Co Business Description

Address No.216, Section 2, Zhongshan Road, 13th Floor, Sector 3, Zhonghe District, New Taipei City, TWN, 242
Toplus Global Co Ltd provides catering management services. The Company offers specialties, fast food products, desserts, drinks, and other related products. It also provides wedding services. It owns DingXian and AmazingHall. DingXian stores in Taipei, Taichung, and Kaohsiung. Amazing Hall contains wedding halls and a marine manor. Its segments are Catering segments and Other segments. The catering segment, which generated maximum revenue, is responsible for catering management and operations; and Other segments, are responsible for hotel catering management consulting and travel agency services.
46GF Score

Get the complete analysis for ROCO:3522

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

NT$11.70
Price
NT$16.35
GF Value