Northern Solar Holdings Bhd (XKLS:0340) Operating Income: RM19.7 Mil (TTM As of Mar. 2026)

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XKLS:0340 Northern Solar Holdings Bhd XKLS:0340
18 GF Score
Price RM0.69
! 4 Warning Signs
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What is Northern Solar Holdings Bhd Operating Income?

Northern Solar Holdings Bhd XKLS:0340 18 Operating Income is RM19.7 Mil as of Mar. 2026. GuruFocus rates XKLS:0340 with a GF Score™ of 18/100. The stock has 4 warning signs investors should review.

Northern Solar Holdings Bhd's Operating Income for the three months ended in Mar. 2026 was RM3.6 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was RM19.7 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Northern Solar Holdings Bhd's Operating Income for the three months ended in Mar. 2026 was RM3.6 Mil. Northern Solar Holdings Bhd's Revenue for the three months ended in Mar. 2026 was RM20.7 Mil. Therefore, Northern Solar Holdings Bhd's Operating Margin % for the quarter that ended in Mar. 2026 was 17.35%.

Northern Solar 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. Northern Solar Holdings Bhd's annualized ROC % for the quarter that ended in Mar. 2026 was 16.07%. Northern Solar Holdings Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 44.54%.


Northern Solar Holdings Bhd  (XKLS:0340) Operating Income Explanation

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

Northern Solar 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 )
=14.38 * ( 1 - 38.33% )/( (51.511 + 58.853)/ 2 )
=8.868146/55.182
=16.07 %

where

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

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

Northern Solar 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 )
=20.636/( ( (22.175 + max(26.062, 0)) + (23.467 + max(20.964, 0)) )/ 2 )
=20.636/( ( 48.237 + 44.431 )/ 2 )
=20.636/46.334
=44.54 %

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)
=(34.93 + 13.544 + 0.0030000000000143) - (20.621 + 0 + 1.794)
=26.062

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(34.314 + 12.914 + 0.099999999999994) - (19.732 + 0 + 6.632)
=20.964

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 %:

Northern Solar 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 )
=3.595/20.723
=17.35 %

* 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.


Northern Solar Holdings Bhd Operating Income Related Terms


Northern Solar Holdings Bhd Operating Income Historical Data

* Premium members only.

The historical data trend for Northern Solar 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.

Northern Solar Holdings Bhd Operating Income Chart

Northern Solar Holdings Bhd Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
3.36 7.72 14.92 17.14 19.87

Northern Solar Holdings Bhd Quarterly Data
Mar22 Mar23 Mar24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.33 5.81 4.80 5.47 3.60
XKLS:0340
18GF Score
Northern Solar Holdings Bhd XKLS:0340
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Northern Solar 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 RM19.7 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 RM19.7 Mil mean?
Northern Solar Holdings Bhd (XKLS:0340) has a Operating Income of RM19.7 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Northern Solar Holdings Bhd and its competitors.
Is Northern Solar Holdings Bhd's Operating Income too high?
Northern Solar Holdings Bhd's current Operating Income is RM19.7 Mil. Overall, Northern Solar Holdings Bhd has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Northern Solar Holdings Bhd's Operating Income compare to FSLR and NXT?
Northern Solar Holdings Bhd's Operating Income of RM19.7 Mil can be compared against companies in the Semiconductors 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 Semiconductors company?
A good Operating Income depends on the Semiconductors 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 Northern Solar Holdings Bhd and its competitors. Northern Solar Holdings Bhd's current Operating Income is RM19.7 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northern Solar Holdings Bhd stock overvalued right now?
Northern Solar Holdings Bhd (XKLS:0340) has a current Operating Income of RM19.7 Mil. The current Operating Income is RM19.7 Mil. Northern Solar Holdings Bhd's overall GF Score™ is 18/100 with 4 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 Northern Solar Holdings Bhd (XKLS:0340), the current Operating Income is RM19.7 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.

Northern Solar Holdings Bhd Business Description

Address No. 3, Jalan SS20/27, Units 8-01 and 8-02, Level 8, Menara Lagenda, Petaling Jaya, SGR, MYS, 47400
Northern Solar Holdings Bhd Group is principally involved in the EPCC of solar PV systems, Generation of renewable energy, and O&M of solar PV equipment and systems. Its EPCC of solar PV systems involves the provision of engineering design and planning, procurement and supply, construction, installation, testing, and commissioning of solar PV systems for commercial, industrial, and residential buildings. The Group owns, operates, and maintains rooftop solar PV systems that generate and sell electricity to NEM and SELCO consumers in Peninsular Malaysia. Its O&M of solar PV equipment and systems involves providing O&M services for solar PV equipment and systems installed in commercial, industrial, & residential buildings. The majority of revenue is derived from the EPCC of solar PV systems.
18GF Score

Get the complete analysis for XKLS:0340

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

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