TPSRF (Topsports International Holdings) Operating Income: $235 Mil (TTM As of Feb. 2026)

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TPSRF Topsports International Holdings Ltd TPSRF
40 GF Score
Price $0.21
GF Value $0.35
Valuation Possible Value Trap
! 5 Warning Signs
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What is Topsports International Holdings Operating Income?

Topsports International Holdings TPSRF 40 Operating Income is $235 Mil as of Feb. 2026. GuruFocus rates TPSRF with a GF Score™ of 40/100 and a GF Value™ of $0.35 (Possible Value Trap). The stock has 5 warning signs investors should review.

Topsports International Holdings's Operating Income for the six months ended in Feb. 2026 was $96 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was $235 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Topsports International Holdings's Operating Income for the six months ended in Feb. 2026 was $96 Mil. Topsports International Holdings's Revenue for the six months ended in Feb. 2026 was $1,946 Mil. Therefore, Topsports International Holdings's Operating Margin % for the quarter that ended in Feb. 2026 was 4.95%.

Warning Sign:

Topsports International Holdings Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -11.3%.

Topsports International Holdings's 5-Year average Growth Rate for Operating Margin % was -11.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Topsports International Holdings's annualized ROC % for the quarter that ended in Feb. 2026 was 10.65%. Topsports International Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 12.04%.


Topsports International Holdings  (OTCPK:TPSRF) Operating Income Explanation

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

Topsports International Holdings's annualized ROC % for the quarter that ended in Feb. 2026 is calculated as:

ROC % (Q: Feb. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Aug. 2025 ) + Invested Capital (Q: Feb. 2026 ))/ count )
=192.748 * ( 1 - 8.66% )/( (1729.71 + 1577.841)/ 2 )
=176.0560232/1653.7755
=10.65 %

where

Invested Capital(Q: Aug. 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))
=2282.32 - 198.754 - ( 353.856 - max(0, 890.585 - 1767.005+353.856))
=1729.71

Invested Capital(Q: Feb. 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))
=2036.763 - 158.693 - ( 300.229 - max(0, 639.248 - 1555.239+300.229))
=1577.841

Note: The Operating Income data used here is two times the semi-annual (Feb. 2026) data.

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

Topsports International Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Aug. 2025  Q: Feb. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=163.384/( ( (300.961 + max(1185.439, 0)) + (268.128 + max(959.501, 0)) )/ 2 )
=163.384/( ( 1486.4 + 1227.629 )/ 2 )
=163.384/1357.0145
=12.04 %

where Working Capital is:

Working Capital(Q: Aug. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(130.341 + 813.348 + 440.503) - (198.754 + 0 + -0.00099999999997635)
=1185.439

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(193.835 + 794.321 + 224.01) - (158.693 + 0 + 93.972)
=959.501

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Feb. 2026) EBIT data.

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

Topsports International Holdings's Operating Margin % for the quarter that ended in Feb. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Feb. 2026 )/Revenue (Q: Feb. 2026 )
=96.374/1946.209
=4.95 %

* 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.


Topsports International Holdings Operating Income Related Terms


Topsports International Holdings Operating Income Historical Data

* Premium members only.

The historical data trend for Topsports International Holdings'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.

Topsports International Holdings Operating Income Chart

Topsports International Holdings Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 540.72 355.28 400.81 235.36 240.27

Topsports International Holdings Semi-Annual Data
Feb17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
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 161.09 156.82 81.26 138.55 96.37
TPSRF
40GF Score
Topsports International Holdings Ltd TPSRF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Topsports International Holdings 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 Feb. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was $235 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 $235 Mil mean?
Topsports International Holdings (TPSRF) has a Operating Income of $235 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Topsports International Holdings and its competitors.
Is Topsports International Holdings' Operating Income too high?
Topsports International Holdings' current Operating Income is $235 Mil. Overall, Topsports International Holdings has a GF Score™ of 40/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Topsports International Holdings' Operating Income compare to TJX and ROST?
Topsports International Holdings' Operating Income of $235 Mil can be compared against companies in the Retail - Cyclical 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 Retail - Cyclical company?
A good Operating Income depends on the Retail - Cyclical 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 Topsports International Holdings and its competitors. Topsports International Holdings's current Operating Income is $235 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Topsports International Holdings stock overvalued right now?
Based on GuruFocus' analysis, Topsports International Holdings (TPSRF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.35, compared to a current price of $0.21 — trading 40.6% below its estimated fair value. The current Operating Income is $235 Mil. Topsports International Holdings' overall GF Score™ is 40/100 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 Topsports International Holdings (TPSRF), the current Operating Income is $235 Mil as of Feb. 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 Topsports International Holdings (TPSRF) Overvalued in 2026?

Based on GuruFocus' analysis, Topsports International Holdings stock appears to be undervalued. The current stock price of $0.21 is trading 40.6% below its estimated GF Value™ of $0.35. GuruFocus considers Topsports International Holdings to be Possible Value Trap.

Key valuation signals for TPSRF:

  • Operating Income: $235 Mil
  • GF Value™: $0.35 vs. price of $0.21 (40.6% below fair value)
  • GF Score™: 40/100 with 5 warning signs

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


Topsports International Holdings Business Description

Other Exchanges 06110:Hong Kong
Address 30-34 Kwai Wing Road, M1, 6th Floor, The Edge, Kwai Chung, Kowloon, New Territories, Hong Kong, HKG
Topsports is the largest sportswear retailer in China, generating the majority of its revenue from selling products of international sportswear brands. The business operates as an intermediary between brand owners and consumers. The firm operates more than 4,000 stores directly as of the end of fiscal 2026, and most of these single-brand stores have been opened under the names of sportswear brands that it partners with, such as Nike and Adidas. Topsports also has partnerships with sportswear brands such as Puma, Li-Ning, Asics, and The North Face. While most of Topsports' sales take place in stores, the firm also operates online shops under the Topsports brand on major e-commerce platforms such as Alibaba and JD.com.
40GF Score

Get the complete analysis for TPSRF

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

$0.21
Price
$0.35
GF Value