Volcano Bhd (XKLS:0232) Operating Income: RM0.08 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

XKLS:0232 Volcano Bhd XKLS:0232
55 GF Score
Price RM0.30
GF Value RM0.77
Valuation Significantly Undervalued
! 7 Warning Signs
View Full Analysis

What is Volcano Bhd Operating Income?

Volcano Bhd XKLS:0232 55 Operating Income is RM0.08 Mil as of Mar. 2026. GuruFocus rates XKLS:0232 with a GF Score™ of 55/100 and a GF Value™ of RM0.77 (Significantly Undervalued). The stock has 7 warning signs investors should review.

Volcano Bhd's Operating Income for the three months ended in Mar. 2026 was RM0.26 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was RM0.08 Mil.

Warning Sign:

Volcano Bhd 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. Volcano Bhd's Operating Income for the three months ended in Mar. 2026 was RM0.26 Mil. Volcano Bhd's Revenue for the three months ended in Mar. 2026 was RM20.11 Mil. Therefore, Volcano Bhd's Operating Margin % for the quarter that ended in Mar. 2026 was 1.30%.

Warning Sign:

Volcano Bhd operating margin has been in a 5-year decline. The average rate of decline per year is -19.7%.

Volcano Bhd's 5-Year average Growth Rate for Operating Margin % was -19.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Volcano Bhd's annualized ROC % for the quarter that ended in Mar. 2026 was 0.77%. Volcano Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 0.66%.

Volcano Bhd  (XKLS:0232) Operating Income Explanation

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

Volcano 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 )
=1.048 * ( 1 - 9.05% )/( (126.025 + 121.133)/ 2 )
=0.953156/123.579
=0.77 %

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))
=155.216 - 9.868 - ( 19.323 - max(0, 15.352 - 64.702+19.323))
=126.025

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))
=144.593 - 6.42 - ( 17.04 - max(0, 11.708 - 57.838+17.04))
=121.133

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

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

Volcano 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 )
=0.784/( ( (89.831 + max(31.78, 0)) + (86.131 + max(30.953, 0)) )/ 2 )
=0.784/( ( 121.611 + 117.084 )/ 2 )
=0.784/119.3475
=0.66 %

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)
=(18.733 + 21.144 + 1.771) - (9.868 + 0 + 0)
=31.78

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(17.036 + 18.488 + 1.849) - (6.42 + 0 + 0)
=30.953

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 %:

Volcano 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 )
=0.262/20.11
=1.30 %

* 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.

Volcano Bhd Operating Income Related Terms

Volcano Bhd Operating Income Historical Data

* Premium members only.

The historical data trend for Volcano 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.

Volcano Bhd Operating Income Chart

Volcano Bhd Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Jun24 Jun25
Operating Income
Get a 7-Day Free Trial 4.04 8.28 8.41 5.39 2.27

Volcano Bhd Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 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 1.47 -1.33 0.29 0.86 0.26
XKLS:0232
55GF Score
Volcano Bhd XKLS:0232
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Volcano 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 RM0.08 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 RM0.08 Mil mean?
Volcano Bhd (XKLS:0232) has a Operating Income of RM0.08 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Volcano Bhd and its competitors.
Is Volcano Bhd's Operating Income too high?
Volcano Bhd's current Operating Income is RM0.08 Mil. Overall, Volcano Bhd has a GF Score™ of 55/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Volcano Bhd's Operating Income compare to CRS and ATI?
Volcano Bhd's Operating Income of RM0.08 Mil can be compared against companies in the Industrial Products 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 an Industrial Products company?
A good Operating Income depends on the Industrial Products 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 Volcano Bhd and its competitors. Volcano Bhd's current Operating Income is RM0.08 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Volcano Bhd stock overvalued right now?
Based on GuruFocus' analysis, Volcano Bhd (XKLS:0232) is currently considered Significantly Undervalued. The stock's GF Value™ is RM0.77, compared to a current price of RM0.30 — trading 61.7% below its estimated fair value. The current Operating Income is RM0.08 Mil. Volcano Bhd's overall GF Score™ is 55/100 with 7 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 Volcano Bhd (XKLS:0232), the current Operating Income is RM0.08 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 Volcano Bhd (XKLS:0232) Overvalued in 2026?

Based on GuruFocus' analysis, Volcano Bhd stock appears to be undervalued. The current stock price of RM0.30 is trading 61.7% below its estimated GF Value™ of RM0.77. GuruFocus considers Volcano Bhd to be Significantly Undervalued.

Key valuation signals for XKLS:0232:

  • Operating Income: RM0.08 Mil
  • GF Value™: RM0.77 vs. price of RM0.30 (61.7% below fair value)
  • GF Score™: 55/100 with 7 warning signs

No single metric tells the full story. See the XKLS:0232 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Volcano Bhd Business Description

Address 1411 Jalan Perusahaan Kawasan, Perusahaan Perai 1, Butterworth, Perai, PNG, MYS, 13600
Volcano Bhd is a manufacturer of parts and components. It manufactures metal and non-metal nameplates, plastic injection moulded parts, die-cut parts, electrical and electronics components, and automotive components. The company's reportable segments are Nameplate and Plastic Injection. The majority of its revenue is derived from the Nameplate segment. Its manufacturing facilities are located in Malaysia and Thailand to serve customers across various industries such as electrical and electronic, automotive, food, furniture, aerospace, and label industries. Geographically, the company derives key revenue from Thailand and the rest from Malaysia, Singapore, Indonesia, China, the United States of America, and other countries.
55GF Score

Get the complete analysis for XKLS:0232

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

RM0.30
Price
RM0.77
GF Value