GFM Services Bhd (XKLS:0039) Operating Income: RM49.2 Mil (TTM As of Mar. 2026)

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XKLS:0039 GFM Services Bhd XKLS:0039
42 GF Score
Price RM0.19
GF Value RM0.29
Valuation Possible Value Trap
! 5 Warning Signs
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What is GFM Services Bhd Operating Income?

GFM Services Bhd XKLS:0039 42 Operating Income is RM49.2 Mil as of Mar. 2026. GuruFocus rates XKLS:0039 with a GF Score™ of 42/100 and a GF Value™ of RM0.29 (Possible Value Trap). The stock has 5 warning signs investors should review.

GFM Services Bhd's Operating Income for the three months ended in Mar. 2026 was RM15.6 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was RM49.2 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. GFM Services Bhd's Operating Income for the three months ended in Mar. 2026 was RM15.6 Mil. GFM Services Bhd's Revenue for the three months ended in Mar. 2026 was RM82.7 Mil. Therefore, GFM Services Bhd's Operating Margin % for the quarter that ended in Mar. 2026 was 18.89%.

Warning Sign:

GFM Services Bhd operating margin has been in a 5-year decline. The average rate of decline per year is -5.4%.

GFM Services Bhd's 5-Year average Growth Rate for Operating Margin % was -5.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. GFM Services Bhd's annualized ROC % for the quarter that ended in Mar. 2026 was 8.15%. GFM Services Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 161.26%.

GFM Services Bhd  (XKLS:0039) Operating Income Explanation

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

GFM Services 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 )
=62.476 * ( 1 - 34.89% )/( (547.62 + 450.239)/ 2 )
=40.6781236/498.9295
=8.15 %

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))
=689.179 - 47.82 - ( 93.739 - max(0, 154.27 - 301.374+93.739))
=547.62

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))
=690.441 - 93.127 - ( 184.815 - max(0, 159.932 - 307.007+184.815))
=450.239

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

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

GFM Services 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 )
=62.26/( ( (16.248 + max(45.006, 0)) + (15.962 + max(-75.457, 0)) )/ 2 )
=62.26/( ( 61.254 + 15.962 )/ 2 )
=62.26/38.608
=161.26 %

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)
=(19.258 + 0.605 + 113.043) - (47.82 + 0 + 40.08)
=45.006

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(15.639 + 1.631 + 0.40000000000003) - (93.127 + 0 + -2.8421709430404E-14)
=-75.457

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 %:

GFM Services 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 )
=15.619/82.672
=18.89 %

* 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.

GFM Services Bhd Operating Income Related Terms

GFM Services Bhd Operating Income Historical Data

* Premium members only.

The historical data trend for GFM Services 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.

GFM Services Bhd Operating Income Chart

GFM Services Bhd 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 37.50 47.52 54.53 55.90 46.45

GFM Services Bhd 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 14.83 13.78 11.15 8.69 15.62
XKLS:0039
42GF Score
GFM Services Bhd XKLS:0039
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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GFM Services 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 RM49.2 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 RM49.2 Mil mean?
GFM Services Bhd (XKLS:0039) has a Operating Income of RM49.2 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on GFM Services Bhd and its competitors.
Is GFM Services Bhd's Operating Income too high?
GFM Services Bhd's current Operating Income is RM49.2 Mil. Overall, GFM Services Bhd has a GF Score™ of 42/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does GFM Services Bhd's Operating Income compare to CTAS and CPRT?
GFM Services Bhd's Operating Income of RM49.2 Mil can be compared against companies in the Business Services 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 Business Services company?
A good Operating Income depends on the Business Services 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 GFM Services Bhd and its competitors. GFM Services Bhd's current Operating Income is RM49.2 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GFM Services Bhd stock overvalued right now?
Based on GuruFocus' analysis, GFM Services Bhd (XKLS:0039) is currently considered Possible Value Trap. The stock's GF Value™ is RM0.29, compared to a current price of RM0.19 — trading 36.2% below its estimated fair value. The current Operating Income is RM49.2 Mil. GFM Services Bhd's overall GF Score™ is 42/100 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 GFM Services Bhd (XKLS:0039), the current Operating Income is RM49.2 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 GFM Services Bhd (XKLS:0039) Overvalued in 2026?

Based on GuruFocus' analysis, GFM Services Bhd stock appears to be undervalued. The current stock price of RM0.19 is trading 36.2% below its estimated GF Value™ of RM0.29. GuruFocus considers GFM Services Bhd to be Possible Value Trap.

Key valuation signals for XKLS:0039:

  • Operating Income: RM49.2 Mil
  • GF Value™: RM0.29 vs. price of RM0.19 (36.2% below fair value)
  • GF Score™: 42/100 with 5 warning signs

No single metric tells the full story. See the XKLS:0039 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

GFM Services Bhd Business Description

Address A-3A-1 Melawati Corporate Centre, Jalan Bandar Melawati, Taman Melawati, Kuala Lumpur, MYS, 53100
GFM Services Bhd is a preferred Facilities Management (FM) solutions provider. The company provides integrated facilities management (IFM) services across a diverse portfolio of asset classes. Its segments include Facilities management engaged in provision of facilities operations, maintenance and management and engineering services, consultancy and advisory; Concession arrangements engaged in construction and maintenance of facilities and infrastructure; Oil and gas services engaged in trading of chemical and oil products and providing engineering services; and Others including investment holding, fund raising, rendering group management and administrative services. It derives revenue from Facilities management segment.
42GF Score

Get the complete analysis for XKLS:0039

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

RM0.19
Price
RM0.29
GF Value