Lingyuan Iron & Steel Co (SHSE:600231) Operating Income: ¥-1,636 Mil (TTM As of Mar. 2026)

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SHSE:600231 Lingyuan Iron & Steel Co Ltd SHSE:600231
53 GF Score
Price ¥1.67
GF Value ¥1.59
Valuation Fairly Valued
! 6 Warning Signs
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What is Lingyuan Iron & Steel Co Operating Income?

Lingyuan Iron & Steel Co SHSE:600231 -1.18% 53 Operating Income is ¥-1,636 Mil as of Mar. 2026. GuruFocus rates SHSE:600231 with a GF Score™ of 53/100 and a GF Value™ of ¥1.59 (Fairly Valued). The stock has 6 warning signs investors should review.

Lingyuan Iron & Steel Co's Operating Income for the three months ended in Mar. 2026 was ¥-442 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ¥-1,636 Mil.

Warning Sign:

Lingyuan Iron & Steel Co Ltd has never been profitable in the past 3 years. It lost money every year.

Operating Margin % is calculated as Operating Income divided by its Revenue. Lingyuan Iron & Steel Co's Operating Income for the three months ended in Mar. 2026 was ¥-442 Mil. Lingyuan Iron & Steel Co's Revenue for the three months ended in Mar. 2026 was ¥3,745 Mil. Therefore, Lingyuan Iron & Steel Co's Operating Margin % for the quarter that ended in Mar. 2026 was -11.80%.

Lingyuan Iron & Steel Co'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. Lingyuan Iron & Steel Co's annualized ROC % for the quarter that ended in Mar. 2026 was -11.30%. Lingyuan Iron & Steel Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -17.11%.


Lingyuan Iron & Steel Co  (SHSE:600231) Operating Income Explanation

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

Lingyuan Iron & Steel 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 )
=-1767.108 * ( 1 - 0% )/( (15413.18 + 15858.904)/ 2 )
=-1767.108/15636.042
=-11.30 %

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))
=15446.956 - 5568.446 - ( 1155 - max(0, 8809.264 - 3274.594+1155))
=15413.18

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))
=15325.168 - 5643.432 - ( 1047.682 - max(0, 9436.578 - 3259.41+1047.682))
=15858.904

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

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

Lingyuan Iron & Steel 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 )
=-1742.764/( ( (10262.643 + max(-4621.39, 0)) + (10105.686 + max(-4646.403, 0)) )/ 2 )
=-1742.764/( ( 10262.643 + 10105.686 )/ 2 )
=-1742.764/10184.1645
=-17.11 %

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)
=(51.443 + 1294.935 + 649.506) - (5568.446 + 0 + 1048.828)
=-4621.39

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(51.146 + 1281.17 + 791.775) - (5643.432 + 0 + 1127.062)
=-4646.403

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 %:

Lingyuan Iron & Steel 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 )
=-441.777/3745.055
=-11.80 %

* 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.


Lingyuan Iron & Steel Co Operating Income Related Terms


Lingyuan Iron & Steel Co Operating Income Historical Data

* Premium members only.

The historical data trend for Lingyuan Iron & Steel 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.

Lingyuan Iron & Steel Co Operating Income Chart

Lingyuan Iron & Steel 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 1,314.21 -876.09 -732.23 -1,617.87 -1,426.50

Lingyuan Iron & Steel 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 -232.34 -299.37 -216.29 -678.50 -441.78
SHSE:600231
53GF Score
Lingyuan Iron & Steel Co Ltd SHSE:600231
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Lingyuan Iron & Steel 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 ¥-1,636 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 ¥-1,636 Mil mean?
Lingyuan Iron & Steel Co (SHSE:600231) has a Operating Income of ¥-1,636 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Lingyuan Iron & Steel Co and its competitors.
Is Lingyuan Iron & Steel Co's Operating Income too high?
Lingyuan Iron & Steel Co's current Operating Income is ¥-1,636 Mil. Overall, Lingyuan Iron & Steel Co has a GF Score™ of 53/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Lingyuan Iron & Steel Co's Operating Income compare to NUE and STLD?
Lingyuan Iron & Steel Co's Operating Income of ¥-1,636 Mil can be compared against companies in the Steel 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 Steel company?
A good Operating Income depends on the Steel 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 Lingyuan Iron & Steel Co and its competitors. Lingyuan Iron & Steel Co's current Operating Income is ¥-1,636 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lingyuan Iron & Steel Co stock overvalued right now?
Based on GuruFocus' analysis, Lingyuan Iron & Steel Co (SHSE:600231) is currently considered Fairly Valued. The stock's GF Value™ is ¥1.59, compared to a current price of ¥1.67 — trading 5% above its estimated fair value. The current Operating Income is ¥-1,636 Mil. Lingyuan Iron & Steel Co's overall GF Score™ is 53/100 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 Lingyuan Iron & Steel Co (SHSE:600231), the current Operating Income is ¥-1,636 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 Lingyuan Iron & Steel Co (SHSE:600231) Overvalued in 2026?

Based on GuruFocus' analysis, Lingyuan Iron & Steel Co stock appears to be overvalued. The current stock price of ¥1.67 is trading 5% above its estimated GF Value™ of ¥1.59. GuruFocus considers Lingyuan Iron & Steel Co to be Fairly Valued.

Key valuation signals for SHSE:600231:

  • Operating Income: ¥-1,636 Mil
  • GF Value™: ¥1.59 vs. price of ¥1.67 (5% above fair value)
  • GF Score™: 53/100 with 6 warning signs

No single metric tells the full story. See the SHSE:600231 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Lingyuan Iron & Steel Co Business Description

Address No. 3 Gangtie Road, Lingyuan, Liaoning, CHN, 122500
Lingyuan Iron & Steel Co Ltd is engaged in mining, steel smelting, and steel rolling.
53GF Score

Get the complete analysis for SHSE:600231

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

¥1.67
Price
¥1.59
GF Value