Comelf (BSE:CMF) Operating Income: lei8.5 Mil (TTM As of Mar. 2026)

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Valuation Fairly Valued

5 Warning Signs

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What is Comelf Operating Income?

Comelf BSE:CMF -5.96% 79 Operating Income is lei8.5 Mil as of Mar. 2026. GuruFocus rates BSE:CMF with a GF Score™ of 79/100 and a GF Value™ of lei4.66 (Fairly Valued). The stock has 5 warning signs investors should review.

Comelf's Operating Income for the three months ended in Mar. 2026 was lei2.4 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was lei8.5 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Comelf's Operating Income for the three months ended in Mar. 2026 was lei2.4 Mil. Comelf's Revenue for the three months ended in Mar. 2026 was lei43.0 Mil. Therefore, Comelf's Operating Margin % for the quarter that ended in Mar. 2026 was 5.48%.

Good Sign:

Comelf SA operating margin is expanding. Margin expansion is usually a good sign.

Comelf's 5-Year average Growth Rate for Operating Margin % was 10.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Comelf's annualized ROC % for the quarter that ended in Mar. 2026 was 6.98%. Comelf's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 6.94%.

Comelf (BSE:CMF) Operating Income Explanation

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

Comelf'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 )
=	9.436 * ( 1 - 13.24% )	/	( (115.603	+	118.895)	/ 2 )
=	8.1866736	/	117.249
=	6.98 %

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	))
=	161.877	-	37.095	-	( 9.179	-	max(0, 75.402	-	86.064	+	9.179	))
=	115.603

	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	))
=	166.258	-	39.904	-	( 7.459	-	max(0, 77.545	-	91.511	+	7.459	))
=	118.895

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

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

Comelf'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 )
=	7.192	/	( ( (74.683 + max(27.122, 0))	+	(73.648 + max(31.897, 0)) )	/	2 )
=	7.192	/	( ( 101.805	+	105.545 )	/	2 )
=	7.192	/	103.675
=	6.94 %

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)
=	(39.53	+	24.833	+	3.017)	-	(37.095	+	0	+	3.163)
=	27.122

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(42.633	+	28.233	+	2.581)	-	(39.904	+	0	+	1.646)
=	31.897

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 %:

Comelf'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 )
	=	2.359	/	43.037
	=	5.48 %

* 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.

Comelf Operating Income Related Terms

Comelf Operating Income Historical Data

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The historical data trend for Comelf's Operating Income can be seen below:

Comelf Operating Income Chart

Comelf Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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6.36

6.56

12.97

13.02

8.48

Comelf 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															2.34	2.28	1.93	1.94	2.36

79GF Score

Comelf SA BSE:CMF

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Comelf 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 lei8.5 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of lei8.5 Mil mean?

Comelf (BSE:CMF) has a Operating Income of lei8.5 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Comelf and its competitors.

Is Comelf's Operating Income too high?

Comelf's current Operating Income is lei8.5 Mil. Overall, Comelf has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Comelf's Operating Income compare to GEV and ETN?

Comelf's Operating Income of lei8.5 Mil can be compared against companies in the Industrial Products 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 an Industrial Products company?

A good Operating Income depends on the Industrial Products 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 Comelf and its competitors. Comelf's current Operating Income is lei8.5 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Comelf stock overvalued right now?

Based on GuruFocus' analysis, Comelf (BSE:CMF) is currently considered Fairly Valued. The stock's GF Value™ is lei4.66, compared to a current price of lei4.42 — trading 5.2% below its estimated fair value. The current Operating Income is lei8.5 Mil. Comelf's overall GF Score™ is 79/100 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 Comelf (BSE:CMF), the current Operating Income is lei8.5 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 Comelf (BSE:CMF) Overvalued in 2026?

Based on GuruFocus' analysis, Comelf stock appears to be undervalued. The current stock price of lei4.42 is trading 5.2% below its estimated GF Value™ of lei4.66. GuruFocus considers Comelf to be Fairly Valued.

Key valuation signals for BSE:CMF:

Operating Income: lei8.5 Mil
GF Value™: lei4.66 vs. price of lei4.42 (5.2% below fair value)
GF Score™: 79/100 with 5 warning signs

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

Comelf Business Description

Industry Industrials Industrial Products

Comparable Companies BSE:ARM BSE:ECT GEV XTER:SIE XPAR:SU ETN XTER:ENR PH OSTO:ATCO A CMI EMR ITW TSE:7011 AME ROK OSTO:SAND TSE:6954 IR XSWX:SCHN XKRX:034020

Address No. 4 Industriei Street, Bistrita Nasaud County, Bistrita, ROU, 420063

Website http://www.comelf.ro

Comelf SA is engaged in the production of engines and turbines. The company manufactures equipment and components for power stations and environmental protection equipment for earthmoving, lifting, and transportation equipment, including their sub-assemblies, steel structures, weapons ammunition, road transport vehicles, and military combat. Its product portfolio includes Bag Filters, scrapers for primary radial settling tanks, Mechanical equipment for methane tanks, Equipment for wastewater treatment, and others. Its segments consist of a Factory of stainless steel products(FPI), a Factory for Earth Moving Machinery and Equipment, Bag Filters, and Electrostatic Precipitators(FUET), and a Factory for Earth Moving Machines and Components(TERRA). It derives maximum revenue from FPI segment.

79GF Score

Get the complete analysis for BSE:CMF

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

lei4.42

Price

lei4.66

GF Value

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