AMNF (Armanino Foods of Distinction) Operating Income: $24.93 Mil (TTM As of Mar. 2026)

What is Armanino Foods of Distinction Operating Income?

Armanino Foods of Distinction AMNF -1.54% 72 Operating Income is $24.93 Mil as of Mar. 2026. GuruFocus rates AMNF with a GF Score™ of 72/100 and a GF Value™ of $8.74 (Modestly Overvalued).

Armanino Foods of Distinction's Operating Income for the three months ended in Mar. 2026 was $6.12 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $24.93 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Armanino Foods of Distinction's Operating Income for the three months ended in Mar. 2026 was $6.12 Mil. Armanino Foods of Distinction's Revenue for the three months ended in Mar. 2026 was $18.39 Mil. Therefore, Armanino Foods of Distinction's Operating Margin % for the quarter that ended in Mar. 2026 was 33.26%.

Good Sign:

Armanino Foods of Distinction Inc operating margin is expanding. Margin expansion is usually a good sign.

Armanino Foods of Distinction's 5-Year average Growth Rate for Operating Margin % was 28.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Armanino Foods of Distinction's annualized ROC % for the quarter that ended in Mar. 2026 was 92.03%. Armanino Foods of Distinction's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 158.71%.

Armanino Foods of Distinction (OTCPK:AMNF) Operating Income Explanation

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

Armanino Foods of Distinction'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 )
=	24.468 * ( 1 - 25.72% )	/	( (19.396	+	20.101)	/ 2 )
=	18.1748304	/	19.7485
=	92.03 %

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	))
=	56.578	-	7.655	-	( 29.527	-	max(0, 12.801	-	46.678	+	29.527	))
=	19.396

	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	))
=	57.576	-	6.586	-	( 30.889	-	max(0, 10.217	-	48.176	+	30.889	))
=	20.101

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

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

Armanino Foods of Distinction'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 )
=	24.468	/	( ( (9.337 + max(5.055, 0))	+	(8.837 + max(7.605, 0)) )	/	2 )
=	24.468	/	( ( 14.392	+	16.442 )	/	2 )
=	24.468	/	15.417
=	158.71 %

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)
=	(11.831	+	4.668	+	0.652)	-	(7.655	+	2.272	+	2.169)
=	5.055

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(10.489	+	6.324	+	0.474)	-	(6.586	+	1.769	+	1.327)
=	7.605

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 %:

Armanino Foods of Distinction'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 )
	=	6.117	/	18.393
	=	33.26 %

* 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.

Armanino Foods of Distinction Operating Income Related Terms

Armanino Foods of Distinction Operating Income Historical Data

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The historical data trend for Armanino Foods of Distinction's Operating Income can be seen below:

Armanino Foods of Distinction Operating Income Chart

Armanino Foods of Distinction Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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7.11

11.13

18.22

23.82

Armanino Foods of Distinction 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															5.01	6.31	6.16	6.33	6.12

72GF Score

Armanino Foods of Distinction Inc AMNF

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Armanino Foods of Distinction 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 $24.93 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $24.93 Mil mean?

Armanino Foods of Distinction (AMNF) has a Operating Income of $24.93 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Armanino Foods of Distinction and its competitors.

Is Armanino Foods of Distinction's Operating Income too high?

Armanino Foods of Distinction's current Operating Income is $24.93 Mil. Overall, Armanino Foods of Distinction has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Armanino Foods of Distinction's Operating Income compare to PRE and BGS?

Armanino Foods of Distinction's Operating Income of $24.93 Mil can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?

A good Operating Income depends on the Consumer Packaged Goods 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 Armanino Foods of Distinction and its competitors. Armanino Foods of Distinction's current Operating Income is $24.93 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Armanino Foods of Distinction stock overvalued right now?

Based on GuruFocus' analysis, Armanino Foods of Distinction (AMNF) is currently considered Modestly Overvalued. The stock's GF Value™ is $8.74, compared to a current price of $10.24 — trading 17.2% above its estimated fair value. The current Operating Income is $24.93 Mil. Armanino Foods of Distinction's overall GF Score™ is 72/100. 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 Armanino Foods of Distinction (AMNF), the current Operating Income is $24.93 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 Armanino Foods of Distinction (AMNF) Overvalued in 2026?

Based on GuruFocus' analysis, Armanino Foods of Distinction stock appears to be overvalued. The current stock price of $10.24 is trading 17.2% above its estimated GF Value™ of $8.74. GuruFocus considers Armanino Foods of Distinction to be Modestly Overvalued.

Key valuation signals for AMNF:

Operating Income: $24.93 Mil
GF Value™: $8.74 vs. price of $10.24 (17.2% above fair value)
GF Score™: 72/100

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

Armanino Foods of Distinction Business Description

Industry Consumer Defensive Consumer Packaged Goods

Comparable Companies PRE BGS BYND ENHA NATR USNA LWAY BRCC UMEW FTLF XSWX:NESN XPAR:BN BOG:NUTRESA TSE:2802 NSE:NESTLEIND SHSE:603288 KHC SHSE:600887 GIS SZSE:300999

Address 5976 West Las Positas Boulevard, Suite 200, Pleasanton, CA, USA, 94588

Website https://www.armaninofoods.com

Armanino Foods of Distinction Inc is engaged in the production and marketing of upscale frozen and refrigerated food products, including pesto and other sauces, stuffed pasta products and cooked meat products. The company's line of frozen products includes a wide variety of sauces, stuffed pastas and pasta sheets, as well as value-added specialty Italian pastas and cooked meat products. It produces a variety of premium, globally-inspired pesto and sauces including Basil Pesto, Roasted Red Bell Pepper Pesto, Southwest Chipotle Pesto, Roasted Garlic Pesto and Chimichurri sauce, all of which are packaged under the Armanino label.

72GF Score

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$10.24

Price

$8.74

GF Value

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