BenQ Materials (TPE:8215) Operating Income: NT$-844 Mil (TTM As of Mar. 2026)

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TPE:8215 BenQ Materials Corp TPE:8215
73 GF Score
Price NT$23.85
GF Value NT$31.85
Valuation Modestly Undervalued
! 8 Warning Signs
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What is BenQ Materials Operating Income?

BenQ Materials TPE:8215 +2.36% 73 Operating Income is NT$-844 Mil as of Mar. 2026. GuruFocus rates TPE:8215 with a GF Score™ of 73/100 and a GF Value™ of NT$31.85 (Modestly Undervalued). The stock has 8 warning signs investors should review.

BenQ Materials's Operating Income for the three months ended in Mar. 2026 was NT$-239 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was NT$-844 Mil.

Warning Sign:

BenQ Materials Corp 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. BenQ Materials's Operating Income for the three months ended in Mar. 2026 was NT$-239 Mil. BenQ Materials's Revenue for the three months ended in Mar. 2026 was NT$4,546 Mil. Therefore, BenQ Materials's Operating Margin % for the quarter that ended in Mar. 2026 was -5.26%.

BenQ Materials'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. BenQ Materials's annualized ROC % for the quarter that ended in Mar. 2026 was -5.20%. BenQ Materials's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -3.44%.


BenQ Materials  (TPE:8215) Operating Income Explanation

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

BenQ Materials'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 )
=-955.632 * ( 1 - 0% )/( (18388.842 + 18374.676)/ 2 )
=-955.632/18381.759
=-5.20 %

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))
=23219.334 - 4312.909 - ( 985.348 - max(0, 8314.047 - 8831.63+985.348))
=18388.842

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))
=23044.366 - 4286.708 - ( 670.054 - max(0, 8278.605 - 8661.587+670.054))
=18374.676

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

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

BenQ Materials'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 )
=-559.052/( ( (12999.862 + max(3260.605, 0)) + (12929.966 + max(3290.026, 0)) )/ 2 )
=-559.052/( ( 16260.467 + 16219.992 )/ 2 )
=-559.052/16240.2295
=-3.44 %

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)
=(3321.125 + 4084.897 + 348.361) - (4312.909 + 0 + 180.869)
=3260.605

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3481.559 + 3940.031 + 383.007) - (4286.708 + 0 + 227.863)
=3290.026

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 %:

BenQ Materials'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 )
=-238.908/4546.266
=-5.26 %

* 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.


BenQ Materials Operating Income Related Terms


BenQ Materials Operating Income Historical Data

* Premium members only.

The historical data trend for BenQ Materials'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.

BenQ Materials Operating Income Chart

BenQ Materials 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 977.32 696.81 591.71 437.29 -376.23

BenQ Materials 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 228.66 -264.80 -5.73 -334.36 -238.91
TPE:8215
73GF Score
BenQ Materials Corp TPE:8215
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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BenQ Materials 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$-844 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$-844 Mil mean?
BenQ Materials (TPE:8215) has a Operating Income of NT$-844 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on BenQ Materials and its competitors.
Is BenQ Materials' Operating Income too high?
BenQ Materials' current Operating Income is NT$-844 Mil. Overall, BenQ Materials has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does BenQ Materials' Operating Income compare to APH and GLW?
BenQ Materials' Operating Income of NT$-844 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 BenQ Materials and its competitors. BenQ Materials's current Operating Income is NT$-844 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BenQ Materials stock overvalued right now?
Based on GuruFocus' analysis, BenQ Materials (TPE:8215) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$31.85, compared to a current price of NT$23.85 — trading 25.1% below its estimated fair value. The current Operating Income is NT$-844 Mil. BenQ Materials' overall GF Score™ is 73/100 with 8 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 BenQ Materials (TPE:8215), the current Operating Income is NT$-844 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 BenQ Materials (TPE:8215) Overvalued in 2026?

Based on GuruFocus' analysis, BenQ Materials stock appears to be undervalued. The current stock price of NT$23.85 is trading 25.1% below its estimated GF Value™ of NT$31.85. GuruFocus considers BenQ Materials to be Modestly Undervalued.

Key valuation signals for TPE:8215:

  • Operating Income: NT$-844 Mil
  • GF Value™: NT$31.85 vs. price of NT$23.85 (25.1% below fair value)
  • GF Score™: 73/100 with 8 warning signs

No single metric tells the full story. See the TPE:8215 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


BenQ Materials Business Description

Address 29 Jianguo East Road, Gueishan District, Taoyuan, TWN, 333403
BenQ Materials Corp is engaged in the manufacturing and sales of film sheet products and medical equipment. Its products include polarizer films; optical films for touch panels; E-paper, industrial tapes; and smart optical films, healthcare products, including hydrocolloid dressings for moist wound management and silicone gels. The company's segments include: The film sheet segment is mainly engaged in the sales, manufacturing and research, and development of various electronic chemical membrane products; and The medical segment is involved in the sales, manufacturing, and research and development of various medical-related products. Geographically, it operates in China, which derives maximum revenue; Taiwan; Japan; United States; and Others.
73GF Score

Get the complete analysis for TPE:8215

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

NT$23.85
Price
NT$31.85
GF Value