Invictus Investment Co (ADX:INVICTUS) Operating Income: د.إ414 Mil (TTM As of Dec. 2025)

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ADX:INVICTUS Invictus Investment Co PLC ADX:INVICTUS
44 GF Score
Price د.إ1.49
GF Value د.إ3.65
Valuation Significantly Undervalued
! 5 Warning Signs
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What is Invictus Investment Co Operating Income?

Invictus Investment Co ADX:INVICTUS +0.68% 44 Operating Income is د.إ414 Mil as of Dec. 2025. GuruFocus rates ADX:INVICTUS with a GF Score™ of 44/100 and a GF Value™ of د.إ3.65 (Significantly Undervalued). The stock has 5 warning signs investors should review.

Invictus Investment Co's Operating Income for the six months ended in Dec. 2025 was د.إ261 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was د.إ414 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Invictus Investment Co's Operating Income for the six months ended in Dec. 2025 was د.إ261 Mil. Invictus Investment Co's Revenue for the six months ended in Dec. 2025 was د.إ7,081 Mil. Therefore, Invictus Investment Co's Operating Margin % for the quarter that ended in Dec. 2025 was 3.68%.

Warning Sign:

Invictus Investment Co PLC operating margin has been in a 5-year decline. The average rate of decline per year is -25.4%.

Invictus Investment Co's 5-Year average Growth Rate for Operating Margin % was -25.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Invictus Investment Co's annualized ROC % for the quarter that ended in Dec. 2025 was 9.77%. Invictus Investment Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 19.45%.

Invictus Investment Co  (ADX:INVICTUS) Operating Income Explanation

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

Invictus Investment Co's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=521.24 * ( 1 - 8.05% )/( (4786.282 + 5025.081)/ 2 )
=479.28018/4905.6815
=9.77 %

where

Invested Capital(Q: Jun. 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))
=6013.678 - 598.457 - ( 628.939 - max(0, 4042.288 - 4799.142+628.939))
=4786.282

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))
=6573.408 - 665.849 - ( 896.62 - max(0, 4473.252 - 5355.73+896.62))
=5025.081

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

Invictus Investment Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=751.996/( ( (601.587 + max(3116.35, 0)) + (694.913 + max(3318.828, 0)) )/ 2 )
=751.996/( ( 3717.937 + 4013.741 )/ 2 )
=751.996/3865.839
=19.45 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2722.344 + 1008.386 + 291.003) - (598.457 + 0 + 306.926)
=3116.35

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2792.621 + 1193.235 + 289.915) - (665.849 + 0 + 291.094)
=3318.828

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

Invictus Investment Co's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=260.62/7080.976
=3.68 %

* 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.

Invictus Investment Co Operating Income Related Terms

Invictus Investment Co Operating Income Historical Data

* Premium members only.

The historical data trend for Invictus Investment Co'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.

Invictus Investment Co Operating Income Chart

Invictus Investment Co Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 296.36 509.22 270.39 138.31 414.37

Invictus Investment Co Semi-Annual Data
Dec19 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only 102.22 59.38 78.93 153.75 260.62
ADX:INVICTUS
44GF Score
Invictus Investment Co PLC ADX:INVICTUS
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Invictus Investment Co 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was د.إ414 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 د.إ414 Mil mean?
Invictus Investment Co (ADX:INVICTUS) has a Operating Income of د.إ414 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Invictus Investment Co and its competitors.
Is Invictus Investment Co's Operating Income too high?
Invictus Investment Co's current Operating Income is د.إ414 Mil. Overall, Invictus Investment Co has a GF Score™ of 44/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Invictus Investment Co's Operating Income compare to SYY and USFD?
Invictus Investment Co's Operating Income of د.إ414 Mil can be compared against companies in the Retail - Defensive 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 Retail - Defensive company?
A good Operating Income depends on the Retail - Defensive 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 Invictus Investment Co and its competitors. Invictus Investment Co's current Operating Income is د.إ414 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Invictus Investment Co stock overvalued right now?
Based on GuruFocus' analysis, Invictus Investment Co (ADX:INVICTUS) is currently considered Significantly Undervalued. The stock's GF Value™ is د.إ3.65, compared to a current price of د.إ1.49 — trading 59.2% below its estimated fair value. The current Operating Income is د.إ414 Mil. Invictus Investment Co's overall GF Score™ is 44/100 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 Invictus Investment Co (ADX:INVICTUS), the current Operating Income is د.إ414 Mil as of Dec. 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.

Is Invictus Investment Co (ADX:INVICTUS) Overvalued in 2026?

Based on GuruFocus' analysis, Invictus Investment Co stock appears to be undervalued. The current stock price of د.إ1.49 is trading 59.2% below its estimated GF Value™ of د.إ3.65. GuruFocus considers Invictus Investment Co to be Significantly Undervalued.

Key valuation signals for ADX:INVICTUS:

  • Operating Income: د.إ414 Mil
  • GF Value™: د.إ3.65 vs. price of د.إ1.49 (59.2% below fair value)
  • GF Score™: 44/100 with 5 warning signs

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

Invictus Investment Co Business Description

Address Dubai Airport Freezone Authority, Plot W34, Dubai, ARE
Invictus Investment Co PLC engages in the trading of agricultural commodities, food products, non-manufactured precious metal trading, and other general items. The group operates two reportable segments - International Trading Business and Agri Commodities Wholesale Trading & Local Distribution in Morocco, out of which it derives maximum revenue from the International Trading Business segment. It specializes in trading various commodities, especially agro-food products, and finished goods trading business across Africa, the Middle East, Europe, the Americas, and Asia. It trades Grains, Oilseeds, Edible Oils, Animal Feed, Pulses, spray-dried Gum Arabic, and Meats, among other products.
44GF Score

Get the complete analysis for ADX:INVICTUS

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

د.إ1.49
Price
د.إ3.65
GF Value