Fertilizantes Heringer (BSP:FHER3) Operating Income: R$-296 Mil (TTM As of Mar. 2026)

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BSP:FHER3 Fertilizantes Heringer SA BSP:FHER3
54 GF Score
Price R$3.50
GF Value R$3.52
Valuation Fairly Valued
! 6 Warning Signs
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What is Fertilizantes Heringer Operating Income?

Fertilizantes Heringer BSP:FHER3 -1.41% 54 Operating Income is R$-296 Mil as of Mar. 2026. GuruFocus rates BSP:FHER3 with a GF Score™ of 54/100 and a GF Value™ of R$3.52 (Fairly Valued). The stock has 6 warning signs investors should review.

Fertilizantes Heringer's Operating Income for the three months ended in Mar. 2026 was R$-28 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was R$-296 Mil.

Warning Sign:

Fertilizantes Heringer SA has never been profitable in the past 3 years. It lost money every year.

Operating Margin % is calculated as Operating Income divided by its Revenue. Fertilizantes Heringer's Operating Income for the three months ended in Mar. 2026 was R$-28 Mil. Fertilizantes Heringer's Revenue for the three months ended in Mar. 2026 was R$525 Mil. Therefore, Fertilizantes Heringer's Operating Margin % for the quarter that ended in Mar. 2026 was -5.31%.

Fertilizantes Heringer'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. Fertilizantes Heringer's annualized ROC % for the quarter that ended in Mar. 2026 was -2.59%. Fertilizantes Heringer's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 100.83%.


Fertilizantes Heringer  (BSP:FHER3) Operating Income Explanation

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

Fertilizantes Heringer'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 )
=-111.584 * ( 1 - 73.77% )/( (1175.187 + 1085.509)/ 2 )
=-29.2684832/1130.348
=-2.59 %

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))
=2148.678 - 1453.858 - ( 100.542 - max(0, 1765.914 - 1285.547+100.542))
=1175.187

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))
=1826.008 - 1200.943 - ( 149.3 - max(0, 1418.542 - 958.098+149.3))
=1085.509

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

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

Fertilizantes Heringer'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 )
=577.672/( ( (581.065 + max(-486.089, 0)) + (564.758 + max(-546.156, 0)) )/ 2 )
=577.672/( ( 581.065 + 564.758 )/ 2 )
=577.672/572.9115
=100.83 %

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)
=(154.896 + 908.742 + 112.845) - (1453.858 + 0 + 208.714)
=-486.089

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(87.977 + 623.643 + 89.434) - (1200.943 + 0 + 146.267)
=-546.156

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 %:

Fertilizantes Heringer'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 )
=-27.896/525.341
=-5.31 %

* 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.


Fertilizantes Heringer Operating Income Related Terms


Fertilizantes Heringer Operating Income Historical Data

* Premium members only.

The historical data trend for Fertilizantes Heringer'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.

Fertilizantes Heringer Operating Income Chart

Fertilizantes Heringer Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 804.40 -32.30 -394.99 -262.69 -297.88

Fertilizantes Heringer 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 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 -31.12 -109.29 -27.80 -131.07 -27.90
BSP:FHER3
54GF Score
Fertilizantes Heringer SA BSP:FHER3
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Fertilizantes Heringer 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 R$-296 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 R$-296 Mil mean?
Fertilizantes Heringer (BSP:FHER3) has a Operating Income of R$-296 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Fertilizantes Heringer and its competitors.
Is Fertilizantes Heringer's Operating Income too high?
Fertilizantes Heringer's current Operating Income is R$-296 Mil. Overall, Fertilizantes Heringer has a GF Score™ of 54/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Fertilizantes Heringer's Operating Income compare to CTVA and CF?
Fertilizantes Heringer's Operating Income of R$-296 Mil can be compared against companies in the Agriculture 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 Agriculture company?
A good Operating Income depends on the Agriculture 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 Fertilizantes Heringer and its competitors. Fertilizantes Heringer's current Operating Income is R$-296 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fertilizantes Heringer stock overvalued right now?
Based on GuruFocus' analysis, Fertilizantes Heringer (BSP:FHER3) is currently considered Fairly Valued. The stock's GF Value™ is R$3.52, compared to a current price of R$3.50 — trading 0.6% below its estimated fair value. The current Operating Income is R$-296 Mil. Fertilizantes Heringer's overall GF Score™ is 54/100 with 6 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 Fertilizantes Heringer (BSP:FHER3), the current Operating Income is R$-296 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 Fertilizantes Heringer (BSP:FHER3) Overvalued in 2026?

Based on GuruFocus' analysis, Fertilizantes Heringer stock appears to be undervalued. The current stock price of R$3.50 is trading 0.6% below its estimated GF Value™ of R$3.52. GuruFocus considers Fertilizantes Heringer to be Fairly Valued.

Key valuation signals for BSP:FHER3:

  • Operating Income: R$-296 Mil
  • GF Value™: R$3.52 vs. price of R$3.50 (0.6% below fair value)
  • GF Score™: 54/100 with 6 warning signs

No single metric tells the full story. See the BSP:FHER3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Fertilizantes Heringer Business Description

Address Avendia Idalino Carvalho, S/N, Bairro Areinha, Viana, ES, BRA, 29135000
Fertilizantes Heringer SA is engaged in the production, marketing, and distribution of fertilizers in Brazil. It offers basic fertilizers, NPK formulas, and special fertilizers. The company also offers various services such as soil analysis incentive programs, technical lectures for farmers, pre-and after-sales support, and specialized technical guidance. The company has two segments: The industrial segment, which comprises the sulfuric acid and single super phosphate plant located in Paranagua; and the Mixing segment, which comprises the company's 11 mixing units. The firm generates the majority of its revenues from the mixing segment.
54GF Score

Get the complete analysis for BSP:FHER3

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

R$3.50
Price
R$3.52
GF Value