Kaulin Manufacturing Co (TPE:1531) Operating Income: NT$-86 Mil (TTM As of Mar. 2026)

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TPE:1531 Kaulin Manufacturing Co Ltd TPE:1531
60 GF Score
Price NT$13.05
GF Value NT$11.82
Valuation Fairly Valued
! 2 Warning Signs
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What is Kaulin Manufacturing Co Operating Income?

Kaulin Manufacturing Co TPE:1531 +0.77% 60 Operating Income is NT$-86 Mil as of Mar. 2026. GuruFocus rates TPE:1531 with a GF Score™ of 60/100 and a GF Value™ of NT$11.82 (Fairly Valued). The stock has 2 warning signs investors should review.

Kaulin Manufacturing Co's Operating Income for the three months ended in Mar. 2026 was NT$-34 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was NT$-86 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Kaulin Manufacturing Co's Operating Income for the three months ended in Mar. 2026 was NT$-34 Mil. Kaulin Manufacturing Co's Revenue for the three months ended in Mar. 2026 was NT$347 Mil. Therefore, Kaulin Manufacturing Co's Operating Margin % for the quarter that ended in Mar. 2026 was -9.65%.

Kaulin Manufacturing 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. Kaulin Manufacturing Co's annualized ROC % for the quarter that ended in Mar. 2026 was -6.32%. Kaulin Manufacturing Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 2.41%.


Kaulin Manufacturing Co  (TPE:1531) Operating Income Explanation

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

Kaulin Manufacturing 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 )
=-134.156 * ( 1 - 1.05% )/( (2091.389 + 2107.4)/ 2 )
=-132.747362/2099.3945
=-6.32 %

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))
=4282.309 - 340.456 - ( 1850.464 - max(0, 391.969 - 2917.24+1850.464))
=2091.389

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))
=4442.757 - 334.855 - ( 2000.502 - max(0, 492.28 - 3071.247+2000.502))
=2107.4

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

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

Kaulin Manufacturing 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 )
=24.516/( ( (335.949 + max(678.27, 0)) + (340.435 + max(679.243, 0)) )/ 2 )
=24.516/( ( 1014.219 + 1019.678 )/ 2 )
=24.516/1016.9485
=2.41 %

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)
=(503.253 + 487.439 + 56.761) - (340.456 + 0 + 28.727)
=678.27

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(530.797 + 459.609 + 58.131) - (334.855 + 0 + 34.439)
=679.243

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 %:

Kaulin Manufacturing 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 )
=-33.539/347.486
=-9.65 %

* 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.


Kaulin Manufacturing Co Operating Income Related Terms


Kaulin Manufacturing Co Operating Income Historical Data

* Premium members only.

The historical data trend for Kaulin Manufacturing 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.

Kaulin Manufacturing Co Operating Income Chart

Kaulin Manufacturing 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 197.96 88.00 -82.71 -15.54 -51.80

Kaulin Manufacturing 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 0.70 1.28 -23.33 -30.45 -33.54
TPE:1531
60GF Score
Kaulin Manufacturing Co Ltd TPE:1531
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Kaulin Manufacturing 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$-86 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$-86 Mil mean?
Kaulin Manufacturing Co (TPE:1531) has a Operating Income of NT$-86 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Kaulin Manufacturing Co and its competitors.
Is Kaulin Manufacturing Co's Operating Income too high?
Kaulin Manufacturing Co's current Operating Income is NT$-86 Mil. Overall, Kaulin Manufacturing Co has a GF Score™ of 60/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Kaulin Manufacturing Co's Operating Income compare to GEV and ETN?
Kaulin Manufacturing Co's Operating Income of NT$-86 Mil can be compared against companies in the Industrial Products 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 Industrial Products company?
A good Operating Income depends on the Industrial Products 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 Kaulin Manufacturing Co and its competitors. Kaulin Manufacturing Co's current Operating Income is NT$-86 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kaulin Manufacturing Co stock overvalued right now?
Based on GuruFocus' analysis, Kaulin Manufacturing Co (TPE:1531) is currently considered Fairly Valued. The stock's GF Value™ is NT$11.82, compared to a current price of NT$13.05 — trading 10.4% above its estimated fair value. The current Operating Income is NT$-86 Mil. Kaulin Manufacturing Co's overall GF Score™ is 60/100 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 Kaulin Manufacturing Co (TPE:1531), the current Operating Income is NT$-86 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 Kaulin Manufacturing Co (TPE:1531) Overvalued in 2026?

Based on GuruFocus' analysis, Kaulin Manufacturing Co stock appears to be overvalued. The current stock price of NT$13.05 is trading 10.4% above its estimated GF Value™ of NT$11.82. GuruFocus considers Kaulin Manufacturing Co to be Fairly Valued.

Key valuation signals for TPE:1531:

  • Operating Income: NT$-86 Mil
  • GF Value™: NT$11.82 vs. price of NT$13.05 (10.4% above fair value)
  • GF Score™: 60/100 with 2 warning signs

No single metric tells the full story. See the TPE:1531 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kaulin Manufacturing Co Business Description

Address Dunhua North Road, 8th Floor, No. 167, Songshan District, Taipei, TWN, 105
Kaulin Manufacturing Co Ltd is a Taiwan-based company, that engages in the manufacture and distribution of sewing machines and related spare parts. Its business activities include manufacturing, assembly, and trading of a variety of sewing machines, parts, and components; casting, processing, and trading of milling products, and sewing machine parts. The company products include overlock, interlock, double chain stitch, and lockstitch. Geographically, it operates in China, Asia, Japan, Latin America, and India.
60GF Score

Get the complete analysis for TPE:1531

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

NT$13.05
Price
NT$11.82
GF Value