GMI Technology (TPE:3312) Operating Income: NT$502 Mil (TTM As of Dec. 2025)

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TPE:3312 GMI Technology Inc TPE:3312
80 GF Score
Price NT$43.10
GF Value NT$42.64
Valuation Fairly Valued
! 5 Warning Signs
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What is GMI Technology Operating Income?

GMI Technology TPE:3312 +8.70% 80 Operating Income is NT$502 Mil as of Dec. 2025. GuruFocus rates TPE:3312 with a GF Score™ of 80/100 and a GF Value™ of NT$42.64 (Fairly Valued). The stock has 5 warning signs investors should review.

GMI Technology's Operating Income for the three months ended in Dec. 2025 was NT$122 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was NT$502 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. GMI Technology's Operating Income for the three months ended in Dec. 2025 was NT$122 Mil. GMI Technology's Revenue for the three months ended in Dec. 2025 was NT$4,904 Mil. Therefore, GMI Technology's Operating Margin % for the quarter that ended in Dec. 2025 was 2.48%.

Warning Sign:

GMI Technology Inc operating margin has been in a 5-year decline. The average rate of decline per year is -1.3%.

GMI Technology's 5-Year average Growth Rate for Operating Margin % was -1.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. GMI Technology's annualized ROC % for the quarter that ended in Dec. 2025 was 6.27%. GMI Technology's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 30.76%.


GMI Technology  (TPE:3312) Operating Income Explanation

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

GMI Technology'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 )
=486.048 * ( 1 - 25.17% )/( (6216.322 + 5384.08)/ 2 )
=363.7097184/5800.201
=6.27 %

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))
=11361.417 - 3392.231 - ( 1992.033 - max(0, 7263.367 - 9016.231+1992.033))
=6216.322

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))
=11199.627 - 2979.23 - ( 2836.317 - max(0, 6054.073 - 9060.862+2836.317))
=5384.08

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

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

GMI Technology'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 )
=1070.868/( ( (352.329 + max(3291.971, 0)) + (350.185 + max(2968.542, 0)) )/ 2 )
=1070.868/( ( 3644.3 + 3318.727 )/ 2 )
=1070.868/3481.5135
=30.76 %

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)
=(4633.993 + 1696.742 + 401.959) - (3392.231 + 0 + 48.492)
=3291.971

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4387.097 + 1434.01 + 204.623) - (2979.23 + 0 + 77.958000000001)
=2968.542

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 %:

GMI Technology'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 )
=121.512/4904.092
=2.48 %

* 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.


GMI Technology Operating Income Related Terms


GMI Technology Operating Income Historical Data

* Premium members only.

The historical data trend for GMI Technology'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.

GMI Technology Operating Income Chart

GMI Technology 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 568.65 575.68 389.66 354.97 502.15

GMI Technology 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 45.12 207.96 68.96 103.72 121.51
TPE:3312
80GF Score
GMI Technology Inc TPE:3312
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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GMI Technology 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$502 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$502 Mil mean?
GMI Technology (TPE:3312) has a Operating Income of NT$502 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on GMI Technology and its competitors.
Is GMI Technology's Operating Income too high?
GMI Technology's current Operating Income is NT$502 Mil. Overall, GMI Technology has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does GMI Technology's Operating Income compare to SNX and ARW?
GMI Technology's Operating Income of NT$502 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 GMI Technology and its competitors. GMI Technology's current Operating Income is NT$502 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GMI Technology stock overvalued right now?
Based on GuruFocus' analysis, GMI Technology (TPE:3312) is currently considered Fairly Valued. The stock's GF Value™ is NT$42.64, compared to a current price of NT$43.10 — trading 1.1% above its estimated fair value. The current Operating Income is NT$502 Mil. GMI Technology's overall GF Score™ is 80/100 with 5 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 GMI Technology (TPE:3312), the current Operating Income is NT$502 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 GMI Technology (TPE:3312) Overvalued in 2026?

Based on GuruFocus' analysis, GMI Technology stock appears to be overvalued. The current stock price of NT$43.10 is trading 1.1% above its estimated GF Value™ of NT$42.64. GuruFocus considers GMI Technology to be Fairly Valued.

Key valuation signals for TPE:3312:

  • Operating Income: NT$502 Mil
  • GF Value™: NT$42.64 vs. price of NT$43.10 (1.1% above fair value)
  • GF Score™: 80/100 with 5 warning signs

No single metric tells the full story. See the TPE:3312 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


GMI Technology Business Description

Address No. 57, Xingzhong Road, 2nd Floor, Neihu District, Taipei, TWN, 114
G M I Technology Inc is an electronics component distributor and application solutions provider in Taiwan. The company and its subsidiaries operate in the trading and manufacturing of electronic equipment and components, computer software development, machinery and equipment rental, and related business services. Its products include consumer electronics, home appliances, information technology, and networking, data and telecommunications, industrial, and power solutions. The company generates maximum revenue from Digital Communication Solutions and Components. Geographically, it derives a majority of its revenue from China followed by Taiwan, United states and others.
80GF Score

Get the complete analysis for TPE:3312

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

NT$43.10
Price
NT$42.64
GF Value