Yutong Bus Co (SHSE:600066) Operating Income: ¥5,886 Mil (TTM As of Mar. 2026)

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SHSE:600066 Yutong Bus Co Ltd SHSE:600066
94 GF Score
Price ¥32.29
GF Value ¥31.11
Valuation Fairly Valued
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What is Yutong Bus Co Operating Income?

Yutong Bus Co SHSE:600066 +1.54% 94 Operating Income is ¥5,886 Mil as of Mar. 2026. GuruFocus rates SHSE:600066 with a GF Score™ of 94/100 and a GF Value™ of ¥31.11 (Fairly Valued).

Yutong Bus Co's Operating Income for the three months ended in Mar. 2026 was ¥656 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ¥5,886 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Yutong Bus Co's Operating Income for the three months ended in Mar. 2026 was ¥656 Mil. Yutong Bus Co's Revenue for the three months ended in Mar. 2026 was ¥5,909 Mil. Therefore, Yutong Bus Co's Operating Margin % for the quarter that ended in Mar. 2026 was 11.11%.

Good Sign:

Yutong Bus Co Ltd operating margin is expanding. Margin expansion is usually a good sign.

Yutong Bus Co's 5-Year average Growth Rate for Operating Margin % was 123.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Yutong Bus Co's annualized ROC % for the quarter that ended in Mar. 2026 was 17.43%. Yutong Bus Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 75.19%.


Yutong Bus Co  (SHSE:600066) Operating Income Explanation

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

Yutong Bus 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 )
=2625.304 * ( 1 - 6.78% )/( (13928.2 + 14158.144)/ 2 )
=2447.3083888/14043.172
=17.43 %

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))
=32990.246 - 9628.653 - ( 9489.465 - max(0, 11688.482 - 21121.875+9489.465))
=13928.2

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))
=33849.053 - 9304.569 - ( 12675.504 - max(0, 11744.725 - 22131.065+12675.504))
=14158.144

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

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

Yutong Bus 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 )
=2864.264/( ( (3840.343 + max(-1000.871, 0)) + (3778.665 + max(-3047.659, 0)) )/ 2 )
=2864.264/( ( 3840.343 + 3778.665 )/ 2 )
=2864.264/3809.504
=75.19 %

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)
=(5379.963 + 3541.617 + 1723.093) - (9628.653 + 0 + 2016.891)
=-1000.871

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2308.749 + 4470.3 + 1876.313) - (9304.569 + 0 + 2398.452)
=-3047.659

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 %:

Yutong Bus 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 )
=656.326/5909.377
=11.11 %

* 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.


Yutong Bus Co Operating Income Related Terms


Yutong Bus Co Operating Income Historical Data

* Premium members only.

The historical data trend for Yutong Bus 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.

Yutong Bus Co Operating Income Chart

Yutong Bus 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 326.35 1,005.09 2,696.23 4,698.22 5,772.85

Yutong Bus 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 543.22 1,299.55 1,521.10 2,408.99 656.33
SHSE:600066
94GF Score
Yutong Bus Co Ltd SHSE:600066
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Yutong Bus 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 ¥5,886 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 ¥5,886 Mil mean?
Yutong Bus Co (SHSE:600066) has a Operating Income of ¥5,886 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Yutong Bus Co and its competitors.
Is Yutong Bus Co's Operating Income too high?
Yutong Bus Co's current Operating Income is ¥5,886 Mil. Overall, Yutong Bus Co has a GF Score™ of 94/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Yutong Bus Co's Operating Income compare to CAT and DE?
Yutong Bus Co's Operating Income of ¥5,886 Mil can be compared against companies in the Farm & Heavy Construction Machinery 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 Farm & Heavy Construction Machinery company?
A good Operating Income depends on the Farm & Heavy Construction Machinery 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 Yutong Bus Co and its competitors. Yutong Bus Co's current Operating Income is ¥5,886 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Yutong Bus Co stock overvalued right now?
Based on GuruFocus' analysis, Yutong Bus Co (SHSE:600066) is currently considered Fairly Valued. The stock's GF Value™ is ¥31.11, compared to a current price of ¥32.29 — trading 3.8% above its estimated fair value. The current Operating Income is ¥5,886 Mil. Yutong Bus Co's overall GF Score™ is 94/100. 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 Yutong Bus Co (SHSE:600066), the current Operating Income is ¥5,886 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 Yutong Bus Co (SHSE:600066) Overvalued in 2026?

Based on GuruFocus' analysis, Yutong Bus Co stock appears to be overvalued. The current stock price of ¥32.29 is trading 3.8% above its estimated GF Value™ of ¥31.11. GuruFocus considers Yutong Bus Co to be Fairly Valued.

Key valuation signals for SHSE:600066:

  • Operating Income: ¥5,886 Mil
  • GF Value™: ¥31.11 vs. price of ¥32.29 (3.8% above fair value)
  • GF Score™: 94/100

No single metric tells the full story. See the SHSE:600066 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Yutong Bus Co Business Description

Address No. 6, Yutong Road, Guancheng Hui District, Henan Province, Zhengzhou, CHN, 450061
Yutong Bus Co Ltd engages in the manufacture and sale of buses and related products. The company operates its business through four main segments. The Bus Manufacturing segment focuses on producing and selling large, medium, and light buses, which include passenger buses, city buses, school buses, and various types of new energy vehicles such as pure electric, plug-in hybrid, and fuel cell models. The Foreign Trade segment handles both domestic and international sales and distribution of buses and new energy vehicles. The Passenger Transportation segment covers services such as group rentals, short-distance and highway travel, tourism transport, bus operations, employee commuting, and school transportation. The Other segment is responsible for providing after-sales support and services.
94GF Score

Get the complete analysis for SHSE:600066

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

¥32.29
Price
¥31.11
GF Value