Dyno Nobel (ASX:DNL) Operating Income: A$558 Mil (TTM As of Mar. 2026)

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ASX:DNL Dyno Nobel Ltd ASX:DNL
58 GF Score
Price A$3.64
GF Value A$2.22
Valuation Significantly Overvalued
! 8 Warning Signs
View Full Analysis

What is Dyno Nobel Operating Income?

Dyno Nobel ASX:DNL -1.36% 58 Operating Income is A$558 Mil as of Mar. 2026. GuruFocus rates ASX:DNL with a GF Score™ of 58/100 and a GF Value™ of A$2.22 (Significantly Overvalued). The stock has 8 warning signs investors should review.

Dyno Nobel's Operating Income for the six months ended in Mar. 2026 was A$153 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was A$558 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Dyno Nobel's Operating Income for the six months ended in Mar. 2026 was A$153 Mil. Dyno Nobel's Revenue for the six months ended in Mar. 2026 was A$1,610 Mil. Therefore, Dyno Nobel's Operating Margin % for the quarter that ended in Mar. 2026 was 9.52%.

Good Sign:

Dyno Nobel Ltd operating margin is expanding. Margin expansion is usually a good sign.

Dyno Nobel's 5-Year average Growth Rate for Operating Margin % was 1.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Dyno Nobel's annualized ROC % for the quarter that ended in Mar. 2026 was 3.83%. Dyno Nobel's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 17.64%.


Dyno Nobel  (ASX:DNL) Operating Income Explanation

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

Dyno Nobel'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: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=306.6 * ( 1 - 20.82% )/( (6564.8 + 6109.9)/ 2 )
=242.76588/6337.35
=3.83 %

where

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

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

Dyno Nobel'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: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=470/( ( (2365.6 + max(502, 0)) + (2265.1 + max(197.1, 0)) )/ 2 )
=470/( ( 2867.6 + 2462.2 )/ 2 )
=470/2664.9
=17.64 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(719.6 + 519.1 + 228.3) - (733.7 + 8.7 + 222.6)
=502

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(566.4 + 491.4 + 171.1) - (712.4 + 8.3 + 311.1)
=197.1

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

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

Dyno Nobel'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 )
=153.3/1609.8
=9.52 %

* 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.


Dyno Nobel Operating Income Related Terms


Dyno Nobel Operating Income Historical Data

* Premium members only.

The historical data trend for Dyno Nobel'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.

Dyno Nobel Operating Income Chart

Dyno Nobel Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 470.10 1,279.40 357.20 347.90 483.90

Dyno Nobel Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 115.80 232.10 79.60 404.30 153.30
ASX:DNL
58GF Score
Dyno Nobel Ltd ASX:DNL
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Dyno Nobel 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 semi-annually data reported by the company within the most recent 12 months, which was A$558 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 A$558 Mil mean?
Dyno Nobel (ASX:DNL) has a Operating Income of A$558 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Dyno Nobel and its competitors.
Is Dyno Nobel's Operating Income too high?
Dyno Nobel's current Operating Income is A$558 Mil. Overall, Dyno Nobel has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Dyno Nobel's Operating Income compare to LIN and SHW?
Dyno Nobel's Operating Income of A$558 Mil can be compared against companies in the Chemicals 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 Chemicals company?
A good Operating Income depends on the Chemicals 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 Dyno Nobel and its competitors. Dyno Nobel's current Operating Income is A$558 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dyno Nobel stock overvalued right now?
Based on GuruFocus' analysis, Dyno Nobel (ASX:DNL) is currently considered Significantly Overvalued. The stock's GF Value™ is A$2.22, compared to a current price of A$3.64 — trading 64% above its estimated fair value. The current Operating Income is A$558 Mil. Dyno Nobel's overall GF Score™ is 58/100 with 8 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 Dyno Nobel (ASX:DNL), the current Operating Income is A$558 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 Dyno Nobel (ASX:DNL) Overvalued in 2026?

Based on GuruFocus' analysis, Dyno Nobel stock appears to be overvalued. The current stock price of A$3.64 is trading 64% above its estimated GF Value™ of A$2.22. GuruFocus considers Dyno Nobel to be Significantly Overvalued.

Key valuation signals for ASX:DNL:

  • Operating Income: A$558 Mil
  • GF Value™: A$2.22 vs. price of A$3.64 (64% above fair value)
  • GF Score™: 58/100 with 8 warning signs

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


Dyno Nobel Business Description

Other Exchanges DNLZY:USAI5P0:Germany
Address 28 Freshwater Place, Level 8, Southbank, Melbourne, VIC, AUS, 3006
Dyno Nobel is a leading global explosives company with operations in Australia, Asia, and the Americas. We estimate its share of the global commercial explosives market at about 15%. Explosives traditionally contributed around 80% of EBIT, but with the sale of the fertilizers business, this moves to 100%.
58GF Score

Get the complete analysis for ASX:DNL

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

A$3.64
Price
A$2.22
GF Value