Iskandar Waterfront City Bhd (XKLS:1589) Operating Income: RM-11.42 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:1589 Iskandar Waterfront City Bhd XKLS:1589
24 GF Score
Price RM0.22
GF Value RM0.18
Valuation Modestly Overvalued
! 5 Warning Signs
View Full Analysis

What is Iskandar Waterfront City Bhd Operating Income?

Iskandar Waterfront City Bhd XKLS:1589 -4.35% 24 Operating Income is RM-11.42 Mil as of Mar. 2026. GuruFocus rates XKLS:1589 with a GF Score™ of 24/100 and a GF Value™ of RM0.18 (Modestly Overvalued). The stock has 5 warning signs investors should review.

Iskandar Waterfront City Bhd's Operating Income for the three months ended in Mar. 2026 was RM-2.44 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was RM-11.42 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Iskandar Waterfront City Bhd's Operating Income for the three months ended in Mar. 2026 was RM-2.44 Mil. Iskandar Waterfront City Bhd's Revenue for the three months ended in Mar. 2026 was RM2.05 Mil. Therefore, Iskandar Waterfront City Bhd's Operating Margin % for the quarter that ended in Mar. 2026 was -118.65%.

Iskandar Waterfront City 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. Iskandar Waterfront City Bhd's annualized ROC % for the quarter that ended in Mar. 2026 was -1.02%. Iskandar Waterfront City Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -3.35%.


Iskandar Waterfront City Bhd  (XKLS:1589) Operating Income Explanation

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

Iskandar Waterfront City 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 )
=-9.748 * ( 1 - 0% )/( (981.446 + 930.579)/ 2 )
=-9.748/956.0125
=-1.02 %

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))
=1337.559 - 348.691 - ( 7.422 - max(0, 469.312 - 683.359+7.422))
=981.446

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))
=1328.481 - 353.566 - ( 44.336 - max(0, 470.406 - 674.4+44.336))
=930.579

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

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

Iskandar Waterfront City 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 )
=-9.748/( ( (4.621 + max(307.546, 0)) + (4.502 + max(265.442, 0)) )/ 2 )
=-9.748/( ( 312.167 + 269.944 )/ 2 )
=-9.748/291.0555
=-3.35 %

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)
=(133.293 + 493.205 + 44.566) - (348.691 + 0 + 14.827)
=307.546

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(137.527 + 490.774 + 1.4829999999999) - (353.566 + 0 + 10.776)
=265.442

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 %:

Iskandar Waterfront City 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 )
=-2.437/2.054
=-118.65 %

* 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.


Iskandar Waterfront City Bhd Operating Income Related Terms


Iskandar Waterfront City Bhd Operating Income Historical Data

* Premium members only.

The historical data trend for Iskandar Waterfront City 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.

Iskandar Waterfront City Bhd Operating Income Chart

Iskandar Waterfront City 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 -11.58 -3.27 0.72 -17.02 -14.12

Iskandar Waterfront City 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 -3.42 -2.52 -4.54 -1.92 -2.44
XKLS:1589
24GF Score
Iskandar Waterfront City Bhd XKLS:1589
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Iskandar Waterfront City 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-11.42 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-11.42 Mil mean?
Iskandar Waterfront City Bhd (XKLS:1589) has a Operating Income of RM-11.42 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Iskandar Waterfront City Bhd and its competitors.
Is Iskandar Waterfront City Bhd's Operating Income too high?
Iskandar Waterfront City Bhd's current Operating Income is RM-11.42 Mil. Overall, Iskandar Waterfront City Bhd has a GF Score™ of 24/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Iskandar Waterfront City Bhd's Operating Income compare to competitors?
Iskandar Waterfront City Bhd's Operating Income of RM-11.42 Mil can be compared against companies in the Real Estate 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 Real Estate company?
A good Operating Income depends on the Real Estate 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 Iskandar Waterfront City Bhd and its competitors. Iskandar Waterfront City Bhd's current Operating Income is RM-11.42 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Iskandar Waterfront City Bhd stock overvalued right now?
Based on GuruFocus' analysis, Iskandar Waterfront City Bhd (XKLS:1589) is currently considered Modestly Overvalued. The stock's GF Value™ is RM0.18, compared to a current price of RM0.22 — trading 22.2% above its estimated fair value. The current Operating Income is RM-11.42 Mil. Iskandar Waterfront City Bhd's overall GF Score™ is 24/100 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 Iskandar Waterfront City Bhd (XKLS:1589), the current Operating Income is RM-11.42 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 Iskandar Waterfront City Bhd (XKLS:1589) Overvalued in 2026?

Based on GuruFocus' analysis, Iskandar Waterfront City Bhd stock appears to be overvalued. The current stock price of RM0.22 is trading 22.2% above its estimated GF Value™ of RM0.18. GuruFocus considers Iskandar Waterfront City Bhd to be Modestly Overvalued.

Key valuation signals for XKLS:1589:

  • Operating Income: RM-11.42 Mil
  • GF Value™: RM0.18 vs. price of RM0.22 (22.2% above fair value)
  • GF Score™: 24/100 with 5 warning signs

No single metric tells the full story. See the XKLS:1589 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Iskandar Waterfront City Bhd Business Description

Address Jalan Skudai, Danga Bay, No. G08, Block 8, Johor Bahru, JHR, MYS, 80200
Iskandar Waterfront City Bhd is an investment holding company involved in property development, construction, property investment, and property management activities. The Group mainly focuses on landed township development products. Its reportable segments are Property Development, Construction, and Others. It generates majority of its revenue from the Property Development segment, which involves the development of residential and commercial properties. The Group operates predominantly in Malaysia.
24GF Score

Get the complete analysis for XKLS:1589

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

RM0.22
Price
RM0.18
GF Value