Farglory Land Development Co (TPE:5522) Operating Income: NT$9,323 Mil (TTM As of Mar. 2026)

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TPE:5522 Farglory Land Development Co Ltd TPE:5522
80 GF Score
Price NT$64.10
GF Value NT$104.02
Valuation Significantly Undervalued
! 5 Warning Signs
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What is Farglory Land Development Co Operating Income?

Farglory Land Development Co TPE:5522 -1.54% 80 Operating Income is NT$9,323 Mil as of Mar. 2026. GuruFocus rates TPE:5522 with a GF Score™ of 80/100 and a GF Value™ of NT$104.02 (Significantly Undervalued). The stock has 5 warning signs investors should review.

Farglory Land Development Co's Operating Income for the three months ended in Mar. 2026 was NT$1,511 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was NT$9,323 Mil.

Warning Sign:

Farglory Land Development Co Ltd has recorded a loss in operating income at least once over the past 3 years.

Operating Margin % is calculated as Operating Income divided by its Revenue. Farglory Land Development Co's Operating Income for the three months ended in Mar. 2026 was NT$1,511 Mil. Farglory Land Development Co's Revenue for the three months ended in Mar. 2026 was NT$5,663 Mil. Therefore, Farglory Land Development Co's Operating Margin % for the quarter that ended in Mar. 2026 was 26.69%.

Good Sign:

Farglory Land Development Co Ltd operating margin is expanding. Margin expansion is usually a good sign.

Farglory Land Development Co's 5-Year average Growth Rate for Operating Margin % was 2.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Farglory Land Development Co's annualized ROC % for the quarter that ended in Mar. 2026 was 6.55%. Farglory Land Development Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 10.02%.


Farglory Land Development Co  (TPE:5522) Operating Income Explanation

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

Farglory Land Development 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 )
=6045.74 * ( 1 - 9.6% )/( (84994.671 + 81839.722)/ 2 )
=5465.34896/83417.1965
=6.55 %

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))
=109256.196 - 9583.187 - ( 14678.338 - max(0, 53822.112 - 97133.196+14678.338))
=84994.671

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))
=108298.597 - 13206.566 - ( 13252.309 - max(0, 55515.565 - 96091.377+13252.309))
=81839.722

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

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

Farglory Land Development 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 )
=6161.236/( ( (839.84 + max(61261.506, 0)) + (972.816 + max(59892.566, 0)) )/ 2 )
=6161.236/( ( 62101.346 + 60865.382 )/ 2 )
=6161.236/61483.364
=10.02 %

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)
=(192.735 + 77199.873 + 4786.34) - (9583.187 + 0 + 11334.255)
=61261.506

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(190.259 + 77607.993 + 4710.828) - (13206.566 + 0 + 9409.948)
=59892.566

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 %:

Farglory Land Development 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 )
=1511.435/5663.127
=26.69 %

* 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.


Farglory Land Development Co Operating Income Related Terms


Farglory Land Development Co Operating Income Historical Data

* Premium members only.

The historical data trend for Farglory Land Development 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.

Farglory Land Development Co Operating Income Chart

Farglory Land Development 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 8,175.17 6,930.18 4,693.66 4,829.00 7,705.69

Farglory Land Development 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 -105.94 -188.34 2,330.41 5,669.57 1,511.44
TPE:5522
80GF Score
Farglory Land Development Co Ltd TPE:5522
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Farglory Land Development 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$9,323 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$9,323 Mil mean?
Farglory Land Development Co (TPE:5522) has a Operating Income of NT$9,323 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Farglory Land Development Co and its competitors.
Is Farglory Land Development Co's Operating Income too high?
Farglory Land Development Co's current Operating Income is NT$9,323 Mil. Overall, Farglory Land Development Co has a GF Score™ of 80/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Farglory Land Development Co's Operating Income compare to competitors?
Farglory Land Development Co's Operating Income of NT$9,323 Mil can be compared against companies in the Real Estate 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 Real Estate company?
A good Operating Income depends on the Real Estate 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 Farglory Land Development Co and its competitors. Farglory Land Development Co's current Operating Income is NT$9,323 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Farglory Land Development Co stock overvalued right now?
Based on GuruFocus' analysis, Farglory Land Development Co (TPE:5522) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$104.02, compared to a current price of NT$64.10 — trading 38.4% below its estimated fair value. The current Operating Income is NT$9,323 Mil. Farglory Land Development Co'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 Farglory Land Development Co (TPE:5522), the current Operating Income is NT$9,323 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 Farglory Land Development Co (TPE:5522) Overvalued in 2026?

Based on GuruFocus' analysis, Farglory Land Development Co stock appears to be undervalued. The current stock price of NT$64.10 is trading 38.4% below its estimated GF Value™ of NT$104.02. GuruFocus considers Farglory Land Development Co to be Significantly Undervalued.

Key valuation signals for TPE:5522:

  • Operating Income: NT$9,323 Mil
  • GF Value™: NT$104.02 vs. price of NT$64.10 (38.4% below fair value)
  • GF Score™: 80/100 with 5 warning signs

No single metric tells the full story. See the TPE:5522 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Farglory Land Development Co Business Description

Address Anhe Road, No.98, Section 2, Tainan, TWN, 709401
Farglory Land Development Co Ltd develops and sells real estate properties in Taiwan. The company is engaged in selling and leasing commercial buildings and public housing constructed by commissioned construction contractors. It develops residential, office, and factory buildings, and undertakes BOT contracts. The company mainly operates via two divisions: Land segment and Construction segment. It derives maximum revenue from Land Segment. Geographically, it operates and derives revenue from Taiwan.
80GF Score

Get the complete analysis for TPE:5522

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

NT$64.10
Price
NT$104.02
GF Value