MMAG Holdings Bhd (XKLS:0034) Operating Income: RM-14.8 Mil (TTM As of Mar. 2026)

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What is MMAG Holdings Bhd Operating Income?

MMAG Holdings Bhd XKLS:0034 +20.00% Operating Income is RM-14.8 Mil as of Mar. 2026. The stock has 2 warning signs investors should review.

MMAG Holdings Bhd's Operating Income for the three months ended in Mar. 2026 was RM-11.0 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was RM-14.8 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. MMAG Holdings Bhd's Operating Income for the three months ended in Mar. 2026 was RM-11.0 Mil. MMAG Holdings Bhd's Revenue for the three months ended in Mar. 2026 was RM166.0 Mil. Therefore, MMAG Holdings Bhd's Operating Margin % for the quarter that ended in Mar. 2026 was -6.60%.

MMAG Holdings Bhd'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. MMAG Holdings Bhd's annualized ROC % for the quarter that ended in Mar. 2026 was -6.67%. MMAG Holdings Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -88.72%.

MMAG Holdings Bhd  (XKLS:0034) Operating Income Explanation

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

MMAG Holdings Bhd'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 )
=-43.812 * ( 1 - 0% )/( (657.229 + 0)/ 1 )
=-43.812/657.229
=-6.67 %

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))
=822.473 - 157.332 - ( 26.481 - max(0, 224.24 - 232.152+26.481))
=657.229

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))
=0 - 0 - ( 0 - max(0, 0 - 0+0))
=0

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

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

MMAG Holdings Bhd'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 )
=-465.036/( ( (524.188 + max(-29.628, 0)) + (0 + max(0, 0)) )/ 1 )
=-465.036/( ( 524.188 + 0 )/ 1 )
=-465.036/524.188
=-88.72 %

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)
=(127.981 + 6.674 + 0.601) - (157.332 + 0 + 7.552)
=-29.628

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

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 %:

MMAG Holdings Bhd'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 )
=-10.953/166.008
=-6.60 %

* 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.

MMAG Holdings Bhd Operating Income Related Terms

MMAG Holdings Bhd Operating Income Historical Data

* Premium members only.

The historical data trend for MMAG Holdings Bhd'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.

MMAG Holdings Bhd Operating Income Chart

MMAG Holdings Bhd Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Sep25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only -23.47 -32.19 -56.27 -62.80 6.20

MMAG Holdings Bhd Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 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 11.67 7.99 -9.53 -2.32 -10.95

MMAG Holdings Bhd 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 RM-14.8 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 RM-14.8 Mil mean?
MMAG Holdings Bhd (XKLS:0034) has a Operating Income of RM-14.8 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on MMAG Holdings Bhd and its competitors.
Is MMAG Holdings Bhd's Operating Income too high?
MMAG Holdings Bhd's current Operating Income is RM-14.8 Mil.
How does MMAG Holdings Bhd's Operating Income compare to UBER and SHOP?
MMAG Holdings Bhd's Operating Income of RM-14.8 Mil can be compared against companies in the Software 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 Software company?
A good Operating Income depends on the Software 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 MMAG Holdings Bhd and its competitors. MMAG Holdings Bhd's current Operating Income is RM-14.8 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MMAG Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, MMAG Holdings Bhd (XKLS:0034) is currently considered Possible Value Trap. The stock's GF Value™ is RM0.06, compared to a current price of RM0.03 — trading 50% below its estimated fair value. The current Operating Income is RM-14.8 Mil. 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 MMAG Holdings Bhd (XKLS:0034), the current Operating Income is RM-14.8 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.

MMAG Holdings Bhd Business Description

Address No. 3, Jalan TP2, Taman Perindustrian UEP, Subang Jaya, SGR, MYS, 47600
MMAG Holdings Bhd is a Malaysia-based company engaged in investment holding. The company's operating segment includes Mobile and fulfillment; Courier and Logistic Services, Air freight and Others. It generates maximum revenue from the Mobile and fulfilments segment. The mobile and fulfilments segment includes distribution of smart devices, mobile operator's strategic 3PL and 4PL partners, fulfillment system and fulfilments marketplace providers and mobile retail stores. The Logistic services segment provides courier and delivery services. Air freight segment includes Provision of air cargo services. Geographically, it derives a majority of revenue from Malaysia and also has a presence in Singapore.