TMDE (TMD Energy) Operating Income: $-6.9 Mil (TTM As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TMDE TMD Energy Ltd TMDE
14 GF Score
Price $0.86
! 2 Warning Signs
View Full Analysis

What is TMD Energy Operating Income?

TMD Energy TMDE +1.39% 14 Operating Income is $-6.9 Mil as of Dec. 2025. GuruFocus rates TMDE with a GF Score™ of 14/100. The stock has 2 warning signs investors should review.

TMD Energy's Operating Income for the six months ended in Dec. 2025 was $-5.0 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $-6.9 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. TMD Energy's Operating Income for the six months ended in Dec. 2025 was $-5.0 Mil. TMD Energy's Revenue for the six months ended in Dec. 2025 was $247.6 Mil. Therefore, TMD Energy's Operating Margin % for the quarter that ended in Dec. 2025 was -2.00%.

TMD Energy'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. TMD Energy's annualized ROC % for the quarter that ended in Dec. 2025 was -8.04%. TMD Energy's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -19.33%.


TMD Energy  (AMEX:TMDE) Operating Income Explanation

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

TMD Energy's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=-9.922 * ( 1 - 0% )/( (124.191 + 122.486)/ 2 )
=-9.922/123.3385
=-8.04 %

where

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

TMD Energy's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-11.004/( ( (31.771 + max(41.466, 0)) + (30.429 + max(10.169, 0)) )/ 2 )
=-11.004/( ( 73.237 + 40.598 )/ 2 )
=-11.004/56.9175
=-19.33 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(28.372 + 7.627 + 14.951) - (9.473 + 0.011 + 1.4210854715202E-14)
=41.466

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(20.132 + 9.408 + 0) - (19.371 + 0 + 1.4210854715202E-14)
=10.169

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

TMD Energy's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=-4.961/247.586
=-2.00 %

* 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.


TMD Energy Operating Income Related Terms


TMD Energy Operating Income Historical Data

* Premium members only.

The historical data trend for TMD Energy'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.

TMD Energy Operating Income Chart

TMD Energy Annual Data
Trend Dec22 Dec23
Operating Income
5.74 2.60

TMD Energy Semi-Annual Data
Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Income Get a 7-Day Free Trial 0.89 0.14 5.86 -1.94 -4.96
TMDE
14GF Score
TMD Energy Ltd TMDE
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

TMD Energy 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was $-6.9 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 $-6.9 Mil mean?
TMD Energy (TMDE) has a Operating Income of $-6.9 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on TMD Energy and its competitors.
Is TMD Energy's Operating Income too high?
TMD Energy's current Operating Income is $-6.9 Mil. Overall, TMD Energy has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does TMD Energy's Operating Income compare to BANL and MARPS?
TMD Energy's Operating Income of $-6.9 Mil can be compared against companies in the Oil & Gas 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 an Oil & Gas company?
A good Operating Income depends on the Oil & Gas 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 TMD Energy and its competitors. TMD Energy's current Operating Income is $-6.9 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TMD Energy stock overvalued right now?
TMD Energy (TMDE) has a current Operating Income of $-6.9 Mil. The current Operating Income is $-6.9 Mil. TMD Energy's overall GF Score™ is 14/100 with 2 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 TMD Energy (TMDE), the current Operating Income is $-6.9 Mil as of Dec. 2025. 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.

TMD Energy Business Description

Industry EnergyOil & Gas
Address No. 2, Jalan Kiara, B-10-06, Block B, Plaza Mont Kiara, Mont Kiara, Wilayah Persekutuan, West Malaysia, Kuala Lumpur, MYS, 50480
TMD Energy Ltd is engaged in marine fuel bunkering services specializing in the supply and marketing of marine gas oil and marine fuel oil (including high sulfur fuel oil, low sulfur fuel oil and very low sulfur fuel oil), to ships and vessels at sea. It is also involved in the provision of ship management services for in-house and external vessels, as well as vessel chartering. It is currently operating with a fleet of nearly 15 bunkering vessels ranging from 540 dwt to 7,820 dwt, of which nearly nine (9) are double bottom and double hull vessels with an average cargo-carrying capacity of approximately 4,200 dwt each.
14GF Score

Get the complete analysis for TMDE

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

$0.86
Price