Vietcap Securities JSC (STC:VCI) Operating Income: ₫1,311,816 Mil (TTM As of Mar. 2026)


STC:VCI Vietcap Securities JSC STC:VCI
92 GF Score
Price ₫25,100.00
GF Value ₫27,295.62
Valuation Fairly Valued
! 10 Warning Signs
View Full Analysis

What is Vietcap Securities JSC Operating Income?

Vietcap Securities JSC STC:VCI -1.18% 92 Operating Income is ₫1,311,816 Mil as of Mar. 2026. GuruFocus rates STC:VCI with a GF Score™ of 92/100 and a GF Value™ of ₫27,295.62 (Fairly Valued). The stock has 10 warning signs investors should review.

Vietcap Securities JSC's Operating Income for the three months ended in Mar. 2026 was ₫318,369 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ₫1,311,816 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Vietcap Securities JSC's Operating Income for the three months ended in Mar. 2026 was ₫318,369 Mil. Vietcap Securities JSC's Revenue for the three months ended in Mar. 2026 was ₫507,216 Mil. Therefore, Vietcap Securities JSC's Operating Margin % for the quarter that ended in Mar. 2026 was 62.77%.

Warning Sign:

Vietcap Securities JSC operating margin has been in a 5-year decline. The average rate of decline per year is -3.2%.

Vietcap Securities JSC's 5-Year average Growth Rate for Operating Margin % was -3.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Vietcap Securities JSC's annualized ROC % for the quarter that ended in Mar. 2026 was 5.96%. Vietcap Securities JSC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 2,066.44%.


Vietcap Securities JSC  (STC:VCI) Operating Income Explanation

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

Vietcap Securities JSC'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 )
=1273475.124 * ( 1 - 15.63% )/( (16389810.666 + 19684982.038)/ 2 )
=1074430.9621188/18037396.352
=5.96 %

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))
=36005864.836 - 1072254.864 - ( 19171350.549 - max(0, 17325115.213 - 35868914.519+19171350.549))
=16389810.666

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))
=37097383.539 - 898244.162 - ( 18100193.478 - max(0, 19302558.289 - 35816715.628+18100193.478))
=19684982.038

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

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

Vietcap Securities JSC'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 )
=2701944.104/( ( (88044.387 + max(-703504.99399999, 0)) + (102650.156 + max(70812.225999993, 0)) )/ 2 )
=2701944.104/( ( 88044.387 + 173462.38199999 )/ 2 )
=2701944.104/130753.3845
=2,066.44 %

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)
=(260104.153 + 111.838 + 296844.22800001) - (1072254.864 + 0 + 188310.349)
=-703504.99399999

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(416206.722 + 116.638 + 713526.15499999) - (898244.162 + 0 + 160793.127)
=70812.225999993

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 %:

Vietcap Securities JSC'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 )
=318368.781/507215.665
=62.77 %

* 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.


Vietcap Securities JSC Operating Income Related Terms


Vietcap Securities JSC Operating Income Historical Data

* Premium members only.

The historical data trend for Vietcap Securities JSC'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.

Vietcap Securities JSC Operating Income Chart

Vietcap Securities JSC 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 1,922,693.19 1,278,416.48 839,839.79 1,387,074.40 1,950,452.19

Vietcap Securities JSC 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 261,970.19 106,850.41 405,559.71 481,036.81 318,368.78
STC:VCI
92GF Score
Vietcap Securities JSC STC:VCI
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vietcap Securities JSC 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 ₫1,311,816 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 ₫1,311,816 Mil mean?
Vietcap Securities JSC (STC:VCI) has a Operating Income of ₫1,311,816 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Vietcap Securities JSC and its competitors.
Is Vietcap Securities JSC's Operating Income too high?
Vietcap Securities JSC's current Operating Income is ₫1,311,816 Mil. Overall, Vietcap Securities JSC has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Vietcap Securities JSC's Operating Income compare to MS and GS?
Vietcap Securities JSC's Operating Income of ₫1,311,816 Mil can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Operating Income depends on the Capital Markets 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 Vietcap Securities JSC and its competitors. Vietcap Securities JSC's current Operating Income is ₫1,311,816 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vietcap Securities JSC stock overvalued right now?
Based on GuruFocus' analysis, Vietcap Securities JSC (STC:VCI) is currently considered Fairly Valued. The stock's GF Value™ is ₫27,295.62, compared to a current price of ₫25,100.00 — trading 8% below its estimated fair value. The current Operating Income is ₫1,311,816 Mil. Vietcap Securities JSC's overall GF Score™ is 92/100 with 10 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 Vietcap Securities JSC (STC:VCI), the current Operating Income is ₫1,311,816 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 Vietcap Securities JSC (STC:VCI) Overvalued in 2026?

Based on GuruFocus' analysis, Vietcap Securities JSC stock appears to be undervalued. The current stock price of ₫25,100.00 is trading 8% below its estimated GF Value™ of ₫27,295.62. GuruFocus considers Vietcap Securities JSC to be Fairly Valued.

Key valuation signals for STC:VCI:

  • Operating Income: ₫1,311,816 Mil
  • GF Value™: ₫27,295.62 vs. price of ₫25,100.00 (8% below fair value)
  • GF Score™: 92/100 with 10 warning signs

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


Vietcap Securities JSC Business Description

Address Bitexco Financial Tower, 15th Floor, 2 Hai Trieu, District 1, Ho Chi Minh City, VNM
Vietcap Securities JSC is engaged in the provision of financial services. The principal activities of the company are provision of securities brokerage service, proprietary securities trading, underwriting and securities custodian services, securities investment consultancy service and corporate finance consultancy service, margin lending service and derivatives trading. The company also offers individual and institutional brokerage services, such as sales and dealing, equities and fixed income, listed and OTC, IPOs, off-market, corporate access, and custody.
92GF Score

Get the complete analysis for STC:VCI

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

₫25,100.00
Price
₫27,295.62
GF Value