Capital Futures (TPE:6024) Operating Income: NT$-270 Mil (TTM As of Mar. 2026)

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TPE:6024 Capital Futures Corp TPE:6024
73 GF Score
Price NT$60.70
GF Value NT$52.27
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Capital Futures Operating Income?

Capital Futures TPE:6024 -1.46% 73 Operating Income is NT$-270 Mil as of Mar. 2026. GuruFocus rates TPE:6024 with a GF Score™ of 73/100 and a GF Value™ of NT$52.27 (Modestly Overvalued). The stock has 6 warning signs investors should review.

Capital Futures's Operating Income for the three months ended in Mar. 2026 was NT$-12 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was NT$-270 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Capital Futures's Operating Income for the three months ended in Mar. 2026 was NT$-12 Mil. Capital Futures's Revenue for the three months ended in Mar. 2026 was NT$849 Mil. Therefore, Capital Futures's Operating Margin % for the quarter that ended in Mar. 2026 was -1.37%.

Capital Futures's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Capital Futures's annualized ROC % for the quarter that ended in Mar. 2026 was -0.06%. Capital Futures's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 1,212.87%.


Capital Futures  (TPE:6024) Operating Income Explanation

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

Capital Futures'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 )
=-46.56 * ( 1 - 17.11% )/( (64126.194 + 73987.718)/ 2 )
=-38.593584/69056.956
=-0.06 %

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))
=74110.473 - 598.999 - ( 9613.065 - max(0, 63647.322 - 73032.602+9613.065))
=64126.194

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))
=84532.833 - 752.053 - ( 9793.062 - max(0, 73607.565 - 83604.913+9793.062))
=73987.718

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

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

Capital Futures'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 )
=2197.248/( ( (189.363 + max(-539.32, 0)) + (172.96 + max(-98.840000000011, 0)) )/ 2 )
=2197.248/( ( 189.363 + 172.96 )/ 2 )
=2197.248/181.1615
=1,212.87 %

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)
=(55.16 + 0 + 63028.653) - (598.999 + 0 + 63024.134)
=-539.32

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(154.014 + 0 + 73337.345) - (752.053 + 0 + 72838.146)
=-98.840000000011

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 %:

Capital Futures'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 )
=-11.64/848.825
=-1.37 %

* 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.


Capital Futures Operating Income Related Terms


Capital Futures Operating Income Historical Data

* Premium members only.

The historical data trend for Capital Futures'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.

Capital Futures Operating Income Chart

Capital Futures 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 228.08 81.23 -121.45 -179.40 -377.86

Capital Futures 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 -119.31 -113.43 -96.02 -49.11 -11.64
TPE:6024
73GF Score
Capital Futures Corp TPE:6024
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Capital Futures 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$-270 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$-270 Mil mean?
Capital Futures (TPE:6024) has a Operating Income of NT$-270 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Capital Futures and its competitors.
Is Capital Futures' Operating Income too high?
Capital Futures' current Operating Income is NT$-270 Mil. Overall, Capital Futures has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Capital Futures' Operating Income compare to MS and GS?
Capital Futures' Operating Income of NT$-270 Mil can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Operating Income depends on the Capital Markets 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 Capital Futures and its competitors. Capital Futures's current Operating Income is NT$-270 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Capital Futures stock overvalued right now?
Based on GuruFocus' analysis, Capital Futures (TPE:6024) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$52.27, compared to a current price of NT$60.70 — trading 16.1% above its estimated fair value. The current Operating Income is NT$-270 Mil. Capital Futures' overall GF Score™ is 73/100 with 6 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 Capital Futures (TPE:6024), the current Operating Income is NT$-270 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 Capital Futures (TPE:6024) Overvalued in 2026?

Based on GuruFocus' analysis, Capital Futures stock appears to be overvalued. The current stock price of NT$60.70 is trading 16.1% above its estimated GF Value™ of NT$52.27. GuruFocus considers Capital Futures to be Modestly Overvalued.

Key valuation signals for TPE:6024:

  • Operating Income: NT$-270 Mil
  • GF Value™: NT$52.27 vs. price of NT$60.70 (16.1% above fair value)
  • GF Score™: 73/100 with 6 warning signs

No single metric tells the full story. See the TPE:6024 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Capital Futures Business Description

Address No. 97, Tun Hwa South Road, 32nd, B1 & B2 Floor, Section 2, Daan District, Taipei, TWN, 10682
Capital Futures Corp is a financial services company. The company offers futures advisory business, futures management business, leverage exchange agency, securities investment consulting, management consulting and information software service, securities business, futures advisory business, fecurities introducing brokerage, proprietary trading, and others. The company operates in a single reporting segment: the Brokerage segment and is mainly involved in the futures brokerage business.
73GF Score

Get the complete analysis for TPE:6024

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

NT$60.70
Price
NT$52.27
GF Value