Taiwan Tea (TPE:2913) Operating Income: NT$-19.5 Mil (TTM As of Dec. 2025)

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TPE:2913 Taiwan Tea Corp TPE:2913
59 GF Score
Price NT$11.20
GF Value NT$26.31
Valuation Possible Value Trap
! 2 Warning Signs
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What is Taiwan Tea Operating Income?

Taiwan Tea TPE:2913 -2.61% 59 Operating Income is NT$-19.5 Mil as of Dec. 2025. GuruFocus rates TPE:2913 with a GF Score™ of 59/100 and a GF Value™ of NT$26.31 (Possible Value Trap). The stock has 2 warning signs investors should review.

Taiwan Tea's Operating Income for the three months ended in Dec. 2025 was NT$-7.7 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was NT$-19.5 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Taiwan Tea's Operating Income for the three months ended in Dec. 2025 was NT$-7.7 Mil. Taiwan Tea's Revenue for the three months ended in Dec. 2025 was NT$107.7 Mil. Therefore, Taiwan Tea's Operating Margin % for the quarter that ended in Dec. 2025 was -7.11%.

Good Sign:

Taiwan Tea Corp operating margin is expanding. Margin expansion is usually a good sign.

Taiwan Tea's 5-Year average Growth Rate for Operating Margin % was 37.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Taiwan Tea's annualized ROC % for the quarter that ended in Dec. 2025 was -0.14%. Taiwan Tea's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -0.04%.


Taiwan Tea  (TPE:2913) Operating Income Explanation

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

Taiwan Tea'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: Sep. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=-30.62 * ( 1 - 5.82% )/( (21187.036 + 21191.073)/ 2 )
=-28.837916/21189.0545
=-0.14 %

where

Invested Capital(Q: Sep. 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))
=21333.385 - 71.717 - ( 74.632 - max(0, 690.966 - 1169.856+74.632))
=21187.036

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))
=21334.869 - 70.485 - ( 73.311 - max(0, 585.338 - 1191.679+73.311))
=21191.073

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

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

Taiwan Tea'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: Sep. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-3.044/( ( (6015.413 + max(960.131, 0)) + (5999.131 + max(998.791, 0)) )/ 2 )
=-3.044/( ( 6975.544 + 6997.922 )/ 2 )
=-3.044/6986.733
=-0.04 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(29.936 + 1040.353 + 19.453) - (71.717 + 0 + 57.894)
=960.131

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(23.717 + 1072.615 + 16.449) - (70.485 + 0 + 43.505)
=998.791

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

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

Taiwan Tea'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 )
=-7.655/107.683
=-7.11 %

* 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.


Taiwan Tea Operating Income Related Terms


Taiwan Tea Operating Income Historical Data

* Premium members only.

The historical data trend for Taiwan Tea'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.

Taiwan Tea Operating Income Chart

Taiwan Tea 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 -182.64 -154.58 -124.40 -60.51 -19.50

Taiwan Tea Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 -1.64 3.31 -7.14 -8.01 -7.66
TPE:2913
59GF Score
Taiwan Tea Corp TPE:2913
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Taiwan Tea 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 quarterly data reported by the company within the most recent 12 months, which was NT$-19.5 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$-19.5 Mil mean?
Taiwan Tea (TPE:2913) has a Operating Income of NT$-19.5 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Taiwan Tea and its competitors.
Is Taiwan Tea's Operating Income too high?
Taiwan Tea's current Operating Income is NT$-19.5 Mil. Overall, Taiwan Tea has a GF Score™ of 59/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Taiwan Tea's Operating Income compare to ADM and BG?
Taiwan Tea's Operating Income of NT$-19.5 Mil can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Operating Income depends on the Consumer Packaged Goods 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 Taiwan Tea and its competitors. Taiwan Tea's current Operating Income is NT$-19.5 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Taiwan Tea stock overvalued right now?
Based on GuruFocus' analysis, Taiwan Tea (TPE:2913) is currently considered Possible Value Trap. The stock's GF Value™ is NT$26.31, compared to a current price of NT$11.20 — trading 57.4% below its estimated fair value. The current Operating Income is NT$-19.5 Mil. Taiwan Tea's overall GF Score™ is 59/100 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 Taiwan Tea (TPE:2913), the current Operating Income is NT$-19.5 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.

Is Taiwan Tea (TPE:2913) Overvalued in 2026?

Based on GuruFocus' analysis, Taiwan Tea stock appears to be undervalued. The current stock price of NT$11.20 is trading 57.4% below its estimated GF Value™ of NT$26.31. GuruFocus considers Taiwan Tea to be Possible Value Trap.

Key valuation signals for TPE:2913:

  • Operating Income: NT$-19.5 Mil
  • GF Value™: NT$26.31 vs. price of NT$11.20 (57.4% below fair value)
  • GF Score™: 59/100 with 2 warning signs

No single metric tells the full story. See the TPE:2913 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Taiwan Tea Business Description

Address No. 3, Zhonghua Road, Hukou Township, Hsinchu, TWN, 303035
Taiwan Tea Corp is responsible for agriculture, fishery, forestry and animal husbandry. The Company's main business activities include manufacturing and sales of tea and related products. The two reportable segments are Retail and trading segment generate maximum revenue from Taiwan: manufacture and sale of tea and other agricultural products, trading of imported goods including food, alcoholic beverages and other products, and operation of recreational tourism; and Asset segment: management of land assets, including land inspections, land and building leases, contract renewals, and related land sale procedures.
59GF Score

Get the complete analysis for TPE:2913

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

NT$11.20
Price
NT$26.31
GF Value