U-Ming Marine Transport (TPE:2606) Operating Income: NT$5,119 Mil (TTM As of Jun. 2026)

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TPE:2606 U-Ming Marine Transport Corp TPE:2606
89 GF Score
Price NT$69.00
GF Value NT$63.87
Valuation Fairly Valued
! 7 Warning Signs
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What is U-Ming Marine Transport Operating Income?

U-Ming Marine Transport TPE:2606 +1.02% 89 Operating Income is NT$5,119 Mil as of Jun. 2026. GuruFocus rates TPE:2606 with a GF Score™ of 89/100 and a GF Value™ of NT$63.87 (Fairly Valued). The stock has 7 warning signs investors should review.

U-Ming Marine Transport's Operating Income for the three months ended in Jun. 2026 was NT$1,557 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was NT$5,119 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. U-Ming Marine Transport's Operating Income for the three months ended in Jun. 2026 was NT$1,557 Mil. U-Ming Marine Transport's Revenue for the three months ended in Jun. 2026 was NT$5,014 Mil. Therefore, U-Ming Marine Transport's Operating Margin % for the quarter that ended in Jun. 2026 was 31.07%.

Good Sign:

U-Ming Marine Transport Corp operating margin is expanding. Margin expansion is usually a good sign.

U-Ming Marine Transport's 5-Year average Growth Rate for Operating Margin % was 20.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. U-Ming Marine Transport's annualized ROC % for the quarter that ended in Jun. 2026 was 8.08%. U-Ming Marine Transport's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 19.47%.


U-Ming Marine Transport  (TPE:2606) Operating Income Explanation

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

U-Ming Marine Transport's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=6229.932 * ( 1 - 3.19% )/( (73828.39 + 75411.281)/ 2 )
=6031.1971692/74619.8355
=8.08 %

where

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))
=89632.874 - 1808.788 - ( 26568.806 - max(0, 15158.773 - 29154.469+26568.806))
=73828.39

Invested Capital(Q: Jun. 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))
=91349.531 - 3962.57 - ( 28160.276 - max(0, 19359.357 - 31335.037+28160.276))
=75411.281

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

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

U-Ming Marine Transport's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=9407.264/( ( (48729.02 + max(-353.937, 0)) + (47923.822 + max(-2410.399, 0)) )/ 2 )
=9407.264/( ( 48729.02 + 47923.822 )/ 2 )
=9407.264/48326.421
=19.47 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(572.511 + 775.365 + 540.889) - (1808.788 + 0 + 433.914)
=-353.937

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(590.294 + 760.649 + 584.271) - (3962.57 + 0 + 383.043)
=-2410.399

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

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

U-Ming Marine Transport's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=1557.483/5013.514
=31.07 %

* 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.


U-Ming Marine Transport Operating Income Related Terms


U-Ming Marine Transport Operating Income Historical Data

* Premium members only.

The historical data trend for U-Ming Marine Transport'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.

U-Ming Marine Transport Operating Income Chart

U-Ming Marine Transport 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 3,816.12 4,339.23 2,721.04 4,485.34 3,696.94

U-Ming Marine Transport Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 643.72 1,293.70 1,280.38 987.73 1,557.48
TPE:2606
89GF Score
U-Ming Marine Transport Corp TPE:2606
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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U-Ming Marine Transport 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 Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was NT$5,119 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$5,119 Mil mean?
U-Ming Marine Transport (TPE:2606) has a Operating Income of NT$5,119 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on U-Ming Marine Transport and its competitors.
Is U-Ming Marine Transport's Operating Income too high?
U-Ming Marine Transport's current Operating Income is NT$5,119 Mil. Overall, U-Ming Marine Transport has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does U-Ming Marine Transport's Operating Income compare to competitors?
U-Ming Marine Transport's Operating Income of NT$5,119 Mil can be compared against companies in the Transportation 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 Transportation company?
A good Operating Income depends on the Transportation 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 U-Ming Marine Transport and its competitors. U-Ming Marine Transport's current Operating Income is NT$5,119 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is U-Ming Marine Transport stock overvalued right now?
Based on GuruFocus' analysis, U-Ming Marine Transport (TPE:2606) is currently considered Fairly Valued. The stock's GF Value™ is NT$63.87, compared to a current price of NT$69.00 — trading 8% above its estimated fair value. The current Operating Income is NT$5,119 Mil. U-Ming Marine Transport's overall GF Score™ is 89/100 with 7 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 U-Ming Marine Transport (TPE:2606), the current Operating Income is NT$5,119 Mil as of Jun. 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 U-Ming Marine Transport (TPE:2606) Overvalued in 2026?

Based on GuruFocus' analysis, U-Ming Marine Transport stock appears to be overvalued. The current stock price of NT$69.00 is trading 8% above its estimated GF Value™ of NT$63.87. GuruFocus considers U-Ming Marine Transport to be Fairly Valued.

Key valuation signals for TPE:2606:

  • Operating Income: NT$5,119 Mil
  • GF Value™: NT$63.87 vs. price of NT$69.00 (8% above fair value)
  • GF Score™: 89/100 with 7 warning signs

No single metric tells the full story. See the TPE:2606 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


U-Ming Marine Transport Business Description

Address No. 207, Section 2, Tun Hwa South Road, 29th Floor, Taipei, TWN, 106
U-Ming Marine Transport Corp is a transportation and logistics company, domiciled in Taiwan. The company organizes itself into two segments: marine transportation and investment. The marine transportation segment, which contributes the vast majority of revenue, owns and operates a fleet of vessels to transport dry bulk cargo, including cement, oil, coal, iron ore, steel, grain, and other commodities.
89GF Score

Get the complete analysis for TPE:2606

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

NT$69.00
Price
NT$63.87
GF Value