Unitech Printed Circuit Board (TPE:2367) Operating Income: NT$-258 Mil (TTM As of Mar. 2026)

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TPE:2367 Unitech Printed Circuit Board Corp TPE:2367
63 GF Score
Price NT$36.30
GF Value NT$26.42
Valuation Significantly Overvalued
! 4 Warning Signs
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What is Unitech Printed Circuit Board Operating Income?

Unitech Printed Circuit Board TPE:2367 +8.68% 63 Operating Income is NT$-258 Mil as of Mar. 2026. GuruFocus rates TPE:2367 with a GF Score™ of 63/100 and a GF Value™ of NT$26.42 (Significantly Overvalued). The stock has 4 warning signs investors should review.

Unitech Printed Circuit Board's Operating Income for the three months ended in Mar. 2026 was NT$-301 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was NT$-258 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Unitech Printed Circuit Board's Operating Income for the three months ended in Mar. 2026 was NT$-301 Mil. Unitech Printed Circuit Board's Revenue for the three months ended in Mar. 2026 was NT$3,898 Mil. Therefore, Unitech Printed Circuit Board's Operating Margin % for the quarter that ended in Mar. 2026 was -7.72%.

Unitech Printed Circuit Board'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. Unitech Printed Circuit Board's annualized ROC % for the quarter that ended in Mar. 2026 was -5.73%. Unitech Printed Circuit Board's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -5.53%.


Unitech Printed Circuit Board  (TPE:2367) Operating Income Explanation

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

Unitech Printed Circuit Board'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 )
=-1203.676 * ( 1 - 0% )/( (20154.348 + 21876.245)/ 2 )
=-1203.676/21015.2965
=-5.73 %

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))
=24798.873 - 4485.912 - ( 933.951 - max(0, 8046.25 - 8204.863+933.951))
=20154.348

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))
=25807.672 - 4318.213 - ( 790.234 - max(0, 8605.176 - 8218.39+790.234))
=21876.245

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

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

Unitech Printed Circuit Board'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 )
=-974.04/( ( (14444.821 + max(2540.069, 0)) + (15348.619 + max(2902.711, 0)) )/ 2 )
=-974.04/( ( 16984.89 + 18251.33 )/ 2 )
=-974.04/17618.11
=-5.53 %

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)
=(3844.362 + 2993.202 + 223.141) - (4485.912 + 0 + 34.724)
=2540.069

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4065.97 + 2906.879 + 298.253) - (4318.213 + 0 + 50.178)
=2902.711

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 %:

Unitech Printed Circuit Board'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 )
=-300.919/3898.12
=-7.72 %

* 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.


Unitech Printed Circuit Board Operating Income Related Terms


Unitech Printed Circuit Board Operating Income Historical Data

* Premium members only.

The historical data trend for Unitech Printed Circuit Board'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.

Unitech Printed Circuit Board Operating Income Chart

Unitech Printed Circuit Board 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 -1,983.54 287.48 -374.58 1,571.21 455.30

Unitech Printed Circuit Board 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 412.33 308.87 -83.73 -182.17 -300.92
TPE:2367
63GF Score
Unitech Printed Circuit Board Corp TPE:2367
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Unitech Printed Circuit Board 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$-258 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$-258 Mil mean?
Unitech Printed Circuit Board (TPE:2367) has a Operating Income of NT$-258 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Unitech Printed Circuit Board and its competitors.
Is Unitech Printed Circuit Board's Operating Income too high?
Unitech Printed Circuit Board's current Operating Income is NT$-258 Mil. Overall, Unitech Printed Circuit Board has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Unitech Printed Circuit Board's Operating Income compare to APH and GLW?
Unitech Printed Circuit Board's Operating Income of NT$-258 Mil can be compared against companies in the Hardware 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 Hardware company?
A good Operating Income depends on the Hardware 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 Unitech Printed Circuit Board and its competitors. Unitech Printed Circuit Board's current Operating Income is NT$-258 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Unitech Printed Circuit Board stock overvalued right now?
Based on GuruFocus' analysis, Unitech Printed Circuit Board (TPE:2367) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$26.42, compared to a current price of NT$36.30 — trading 37.4% above its estimated fair value. The current Operating Income is NT$-258 Mil. Unitech Printed Circuit Board's overall GF Score™ is 63/100 with 4 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 Unitech Printed Circuit Board (TPE:2367), the current Operating Income is NT$-258 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 Unitech Printed Circuit Board (TPE:2367) Overvalued in 2026?

Based on GuruFocus' analysis, Unitech Printed Circuit Board stock appears to be overvalued. The current stock price of NT$36.30 is trading 37.4% above its estimated GF Value™ of NT$26.42. GuruFocus considers Unitech Printed Circuit Board to be Significantly Overvalued.

Key valuation signals for TPE:2367:

  • Operating Income: NT$-258 Mil
  • GF Value™: NT$26.42 vs. price of NT$36.30 (37.4% above fair value)
  • GF Score™: 63/100 with 4 warning signs

No single metric tells the full story. See the TPE:2367 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Unitech Printed Circuit Board Business Description

Address No. 3, Lane 4, Zhongshan Road, Tucheng district, New Taipei, TWN, 23680
Unitech Printed Circuit Board Corp is a manufacturer of printed circuit boards and solar cells. The company provides double-sided PCBs and multi-layer PCBs as well as mono-crystalline silicon solar cells, rigid-Flex PCBs, and multi-crystalline silicon solar cells.
63GF Score

Get the complete analysis for TPE:2367

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

NT$36.30
Price
NT$26.42
GF Value