King Yuan Electronics Co (TPE:2449) Operating Income: NT$10,251 Mil (TTM As of Mar. 2026)

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.

TPE:2449 King Yuan Electronics Co Ltd TPE:2449
84 GF Score
Price NT$242.00
GF Value NT$177.42
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is King Yuan Electronics Co Operating Income?

King Yuan Electronics Co TPE:2449 -2.81% 84 Operating Income is NT$10,251 Mil as of Mar. 2026. GuruFocus rates TPE:2449 with a GF Score™ of 84/100 and a GF Value™ of NT$177.42 (Significantly Overvalued). The stock has 3 warning signs investors should review.

King Yuan Electronics Co's Operating Income for the three months ended in Mar. 2026 was NT$2,772 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was NT$10,251 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. King Yuan Electronics Co's Operating Income for the three months ended in Mar. 2026 was NT$2,772 Mil. King Yuan Electronics Co's Revenue for the three months ended in Mar. 2026 was NT$10,192 Mil. Therefore, King Yuan Electronics Co's Operating Margin % for the quarter that ended in Mar. 2026 was 27.20%.

Good Sign:

King Yuan Electronics Co Ltd operating margin is expanding. Margin expansion is usually a good sign.

King Yuan Electronics Co's 5-Year average Growth Rate for Operating Margin % was 8.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. King Yuan Electronics Co's annualized ROC % for the quarter that ended in Mar. 2026 was 11.13%. King Yuan Electronics Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 17.22%.


King Yuan Electronics Co  (TPE:2449) Operating Income Explanation

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

King Yuan Electronics 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 )
=11087.832 * ( 1 - 18.58% )/( (74515.894 + 87761.914)/ 2 )
=9027.7128144/81138.904
=11.13 %

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))
=101177.951 - 13661.904 - ( 17963.504 - max(0, 15919.138 - 28919.291+17963.504))
=74515.894

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))
=113177.925 - 15747.108 - ( 14441.729 - max(0, 18477.256 - 28146.159+14441.729))
=87761.914

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

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

King Yuan Electronics 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 )
=11789.864/( ( (63352.785 + max(-5500.17, 0)) + (73592.101 + max(-4703.331, 0)) )/ 2 )
=11789.864/( ( 63352.785 + 73592.101 )/ 2 )
=11789.864/68472.443
=17.22 %

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)
=(7202.899 + 1158.712 + 1608.794) - (13661.904 + 0 + 1808.671)
=-5500.17

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(8544.485 + 1746.023 + 2571.151) - (15747.108 + 0 + 1817.882)
=-4703.331

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 %:

King Yuan Electronics 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 )
=2771.958/10191.943
=27.20 %

* 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.


King Yuan Electronics Co Operating Income Related Terms


King Yuan Electronics Co Operating Income Historical Data

* Premium members only.

The historical data trend for King Yuan Electronics 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.

King Yuan Electronics Co Operating Income Chart

King Yuan Electronics 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 6,607.16 9,168.29 5,260.24 6,172.27 9,002.07

King Yuan Electronics 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 1,522.70 2,176.16 2,491.65 2,811.56 2,771.96
TPE:2449
84GF Score
King Yuan Electronics Co Ltd TPE:2449
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

King Yuan Electronics 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$10,251 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$10,251 Mil mean?
King Yuan Electronics Co (TPE:2449) has a Operating Income of NT$10,251 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on King Yuan Electronics Co and its competitors.
Is King Yuan Electronics Co's Operating Income too high?
King Yuan Electronics Co's current Operating Income is NT$10,251 Mil. Overall, King Yuan Electronics Co has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does King Yuan Electronics Co's Operating Income compare to NVDA and AVGO?
King Yuan Electronics Co's Operating Income of NT$10,251 Mil can be compared against companies in the Semiconductors 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 Semiconductors company?
A good Operating Income depends on the Semiconductors 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 King Yuan Electronics Co and its competitors. King Yuan Electronics Co's current Operating Income is NT$10,251 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is King Yuan Electronics Co stock overvalued right now?
Based on GuruFocus' analysis, King Yuan Electronics Co (TPE:2449) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$177.42, compared to a current price of NT$242.00 — trading 36.4% above its estimated fair value. The current Operating Income is NT$10,251 Mil. King Yuan Electronics Co's overall GF Score™ is 84/100 with 3 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 King Yuan Electronics Co (TPE:2449), the current Operating Income is NT$10,251 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 King Yuan Electronics Co (TPE:2449) Overvalued in 2026?

Based on GuruFocus' analysis, King Yuan Electronics Co stock appears to be overvalued. The current stock price of NT$242.00 is trading 36.4% above its estimated GF Value™ of NT$177.42. GuruFocus considers King Yuan Electronics Co to be Significantly Overvalued.

Key valuation signals for TPE:2449:

  • Operating Income: NT$10,251 Mil
  • GF Value™: NT$177.42 vs. price of NT$242.00 (36.4% above fair value)
  • GF Score™: 84/100 with 3 warning signs

No single metric tells the full story. See the TPE:2449 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


King Yuan Electronics Co Business Description

Address Gongdaowu 5th Road, Section 2, No. 81, Hsinchu, TWN, 300
King Yuan Electronics Co Ltd mainly engages in the business of design, manufacturing, selling, testing, and assembly service of integrated circuits. Additionally, it manufactures and sells IC Monitoring Burn-In machinery and related components. King Yuan provides semiconductor back-end services globally, including testing, wafer grinding, die sawing, and pick-and-place operations. It supports a wide range of semiconductor technologies, including logic and mixed-signal devices, system-on-chip, CMOS image sensors (CIS) and charge-coupled devices (CCD), liquid crystal display drivers (LCDD), radio frequency (RF), wireless components, and micro-electro-mechanical systems (MEMS). Geographically, the company derives maximum revenue from North America, followed by Taiwan, Asia, and other regions.
84GF Score

Get the complete analysis for TPE:2449

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

NT$242.00
Price
NT$177.42
GF Value