Makstil AD (XMAE:STIL) Operating Income: MKD588 Mil (TTM As of Mar. 2025)

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XMAE:STIL Makstil AD XMAE:STIL
80 GF Score
Price MKD119.00
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What is Makstil AD Operating Income?

Makstil AD XMAE:STIL 80 Operating Income is MKD588 Mil as of Mar. 2025. GuruFocus rates XMAE:STIL with a GF Score™ of 80/100.

Makstil AD's Operating Income for the three months ended in Mar. 2025 was MKD301 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 was MKD588 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Makstil AD's Operating Income for the three months ended in Mar. 2025 was MKD301 Mil. Makstil AD's Revenue for the three months ended in Mar. 2025 was MKD2,857 Mil. Therefore, Makstil AD's Operating Margin % for the quarter that ended in Mar. 2025 was 10.55%.

Makstil AD'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. Makstil AD's annualized ROC % for the quarter that ended in Mar. 2025 was 14.79%. Makstil AD's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 was 22.33%.


Makstil AD  (XMAE:STIL) Operating Income Explanation

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

Makstil AD's annualized ROC % for the quarter that ended in Mar. 2025 is calculated as:

ROC % (Q: Mar. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2024 ) + Invested Capital (Q: Mar. 2025 ))/ count )
=1205.236 * ( 1 - 10.36% )/( (7303.818 + 0)/ 1 )
=1080.3735504/7303.818
=14.79 %

where

Invested Capital(Q: Dec. 2024 )
=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))
=8715.773 - 1345.527 - ( 66.428 - max(0, 4200.439 - 4964.227+66.428))
=7303.818

Note: The Operating Income data used here is four times the quarterly (Mar. 2025) data.

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

Makstil AD's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2024  Q: Mar. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1268.08/( ( (3742.812 + max(1936.598, 0)) + (0 + max(0, 0)) )/ 1 )
=1268.08/( ( 5679.41 + 0 )/ 1 )
=1268.08/5679.41
=22.33 %

where Working Capital is:

Working Capital(Q: Dec. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(197.831 + 3491.733 + 820.687) - (1345.527 + 0 + 1228.126)
=1936.598

Working Capital(Q: Mar. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0) - (0 + 0 + 0)
=0

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Makstil AD's Operating Margin % for the quarter that ended in Mar. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2025 )/Revenue (Q: Mar. 2025 )
=301.309/2857.198
=10.55 %

* 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.


Makstil AD Operating Income Related Terms


Makstil AD Operating Income Historical Data

* Premium members only.

The historical data trend for Makstil AD'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.

Makstil AD Operating Income Chart

Makstil AD Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 101.60 880.11 1,201.71 501.13 436.50

Makstil AD Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
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 149.61 106.45 73.80 106.64 301.31
XMAE:STIL
80GF Score
Makstil AD XMAE:STIL
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Makstil AD 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. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was MKD588 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 MKD588 Mil mean?
Makstil AD (XMAE:STIL) has a Operating Income of MKD588 Mil as of Mar. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Makstil AD and its competitors.
Is Makstil AD's Operating Income too high?
Makstil AD's current Operating Income is MKD588 Mil. Overall, Makstil AD has a GF Score™ of 80/100, reflecting its overall financial health beyond just this single metric.
How does Makstil AD's Operating Income compare to NUE and STLD?
Makstil AD's Operating Income of MKD588 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 Makstil AD and its competitors. Makstil AD's current Operating Income is MKD588 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Makstil AD stock overvalued right now?
Makstil AD (XMAE:STIL) has a current Operating Income of MKD588 Mil. The current Operating Income is MKD588 Mil. Makstil AD's overall GF Score™ is 80/100. 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 Makstil AD (XMAE:STIL), the current Operating Income is MKD588 Mil as of Mar. 2025. 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.

Makstil AD Business Description

Address 16 Makedonska brigada, 18, Skopje, MKD, 1000
Makstil AD is a producer of hot-rolled heavy plates in the Balkan region. The company produces flat-rolled products such as hot rolled plates, hot rolled coils, cold rolled strips and sheets, galvanized strips and sheets and pre-painted coated strips.
80GF Score

Get the complete analysis for XMAE:STIL

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

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