ASTEEL Group Bhd (XKLS:7020) Operating Income: RM67.2 Mil (TTM As of Mar. 2026)

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What is ASTEEL Group Bhd Operating Income?

ASTEEL Group Bhd XKLS:7020 Operating Income is RM67.2 Mil as of Mar. 2026. The stock has 5 warning signs investors should review.

ASTEEL Group Bhd's Operating Income for the three months ended in Mar. 2026 was RM61.9 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was RM67.2 Mil.

Warning Sign:

ASTEEL Group 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. ASTEEL Group Bhd's Operating Income for the three months ended in Mar. 2026 was RM61.9 Mil. ASTEEL Group Bhd's Revenue for the three months ended in Mar. 2026 was RM64.2 Mil. Therefore, ASTEEL Group Bhd's Operating Margin % for the quarter that ended in Mar. 2026 was 96.52%.

ASTEEL Group 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. ASTEEL Group Bhd's annualized ROC % for the quarter that ended in Mar. 2026 was 66.11%. ASTEEL Group Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 5.95%.

ASTEEL Group Bhd  (XKLS:7020) Operating Income Explanation

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

ASTEEL Group 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 )
=247.68 * ( 1 - 49.29% )/( (200.679 + 179.312)/ 2 )
=125.598528/189.9955
=66.11 %

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))
=248.182 - 38.298 - ( 9.205 - max(0, 141.513 - 171.885+9.205))
=200.679

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))
=252.761 - 41.152 - ( 32.607 - max(0, 145.395 - 177.692+32.607))
=179.312

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

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

ASTEEL Group 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 )
=10.08/( ( (75.355 + max(96.332, 0)) + (74.088 + max(92.773, 0)) )/ 2 )
=10.08/( ( 171.687 + 166.861 )/ 2 )
=10.08/169.274
=5.95 %

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)
=(60.814 + 59.499 + 30.259) - (38.298 + 0 + 15.942)
=96.332

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(72.752 + 63.846 + 0.821) - (41.152 + 0 + 3.494)
=92.773

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 %:

ASTEEL Group 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 )
=61.92/64.151
=96.52 %

* 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.

ASTEEL Group Bhd Operating Income Related Terms

ASTEEL Group Bhd Operating Income Historical Data

* Premium members only.

The historical data trend for ASTEEL Group 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.

ASTEEL Group Bhd Operating Income Chart

ASTEEL Group 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 15.63 0.69 -0.30 7.91 11.42

ASTEEL Group 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 55.25 2.25 2.37 0.70 61.92

ASTEEL Group 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 RM67.2 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 RM67.2 Mil mean?
ASTEEL Group Bhd (XKLS:7020) has a Operating Income of RM67.2 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on ASTEEL Group Bhd and its competitors.
Is ASTEEL Group Bhd's Operating Income too high?
ASTEEL Group Bhd's current Operating Income is RM67.2 Mil.
How does ASTEEL Group Bhd's Operating Income compare to NUE and STLD?
ASTEEL Group Bhd's Operating Income of RM67.2 Mil can be compared against companies in the Steel 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 Steel company?
A good Operating Income depends on the Steel 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 ASTEEL Group Bhd and its competitors. ASTEEL Group Bhd's current Operating Income is RM67.2 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ASTEEL Group Bhd stock overvalued right now?
Based on GuruFocus' analysis, ASTEEL Group Bhd (XKLS:7020) is currently considered Modestly Undervalued. The stock's GF Value™ is RM0.09, compared to a current price of RM0.07 — trading 27.8% below its estimated fair value. The current Operating Income is RM67.2 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 ASTEEL Group Bhd (XKLS:7020), the current Operating Income is RM67.2 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.

ASTEEL Group Bhd Business Description

Address No. 2 Jalan Setia Prima S U13/S, No. 52-4 and 53-4 Setia Avenue, Seksyen U13, Setia Alam, Shah Alam, SGR, MYS, 40170
ASTEEL Group Bhd specializes in steel roofing and structure design and building, and focuses on the downstream industry for other building and construction materials. It is involved in the manufacturing of coated steel products and processing of metal roofing, wall cladding & fencing, metal floor decking, light gauge structural components, purlins, and framing systems under the brands ASTEEL and ASTAR. The firm operates in two segments: ARSB and STARSHINE. The ARSB segment that generates the majority of its revenue, engages in manufacturing and selling coated steel products and downstream roofing products, trading of hardware and building materials in Sabah and Sarawak, East Malaysia.