Ledesma (BUE:LEDE) Operating Income: ARS-18,264 Mil (TTM As of Feb. 2026)


BUE:LEDE Ledesma SA BUE:LEDE
70 GF Score
Price ARS741.00
GF Value ARS859.14
Valuation Modestly Undervalued
! 6 Warning Signs
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What is Ledesma Operating Income?

Ledesma BUE:LEDE +0.14% 70 Operating Income is ARS-18,264 Mil as of Feb. 2026. GuruFocus rates BUE:LEDE with a GF Score™ of 70/100 and a GF Value™ of ARS859.14 (Modestly Undervalued). The stock has 6 warning signs investors should review.

Ledesma's Operating Income for the three months ended in Feb. 2026 was ARS7,481 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was ARS-18,264 Mil.

Warning Sign:

Ledesma SA has recorded a loss in operating income at least once over the past 3 years.

Operating Margin % is calculated as Operating Income divided by its Revenue. Ledesma's Operating Income for the three months ended in Feb. 2026 was ARS7,481 Mil. Ledesma's Revenue for the three months ended in Feb. 2026 was ARS264,426 Mil. Therefore, Ledesma's Operating Margin % for the quarter that ended in Feb. 2026 was 2.83%.

Ledesma'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. Ledesma's annualized ROC % for the quarter that ended in Feb. 2026 was 2.17%. Ledesma's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 24.08%.

Ledesma  (BUE:LEDE) Operating Income Explanation

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

Ledesma's annualized ROC % for the quarter that ended in Feb. 2026 is calculated as:

ROC % (Q: Feb. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Nov. 2025 ) + Invested Capital (Q: Feb. 2026 ))/ count )
=29923.544 * ( 1 - 37.49% )/( (858772.928 + 866534.172)/ 2 )
=18705.2073544/862653.55
=2.17 %

where

Invested Capital(Q: Nov. 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))
=1024011.737 - 145931.245 - ( 19307.564 - max(0, 382808.812 - 612485.623+19307.564))
=858772.928

Invested Capital(Q: Feb. 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))
=966157.986 - 83855.303 - ( 15768.511 - max(0, 243574.974 - 526370.223+15768.511))
=866534.172

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

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

Ledesma's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Nov. 2025  Q: Feb. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=169330.176/( ( (364898.898 + max(245236.417, 0)) + (395067.498 + max(401193.704, 0)) )/ 2 )
=169330.176/( ( 610135.315 + 796261.202 )/ 2 )
=169330.176/703198.2585
=24.08 %

where Working Capital is:

Working Capital(Q: Nov. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 357014 + 79856.097) - (145931.245 + 0 + 45702.435)
=245236.417

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(131677.631 + 290733.322 + 87017.553) - (83855.303 + 0 + 24379.499)
=401193.704

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Feb. 2026) EBIT data.

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

Ledesma's Operating Margin % for the quarter that ended in Feb. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Feb. 2026 )/Revenue (Q: Feb. 2026 )
=7480.886/264425.918
=2.83 %

* 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.

Ledesma Operating Income Related Terms

Ledesma Operating Income Historical Data

* Premium members only.

The historical data trend for Ledesma'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.

Ledesma Operating Income Chart

Ledesma Annual Data
Trend May16 May17 May18 May19 May20 May21 May22 May23 May24 May25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6,177.73 15,120.46 55,591.15 130,856.77 -18,763.62

Ledesma Quarterly Data
May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
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 10,986.40 -21,756.30 -5,143.47 1,155.07 7,480.89
BUE:LEDE
70GF Score
Ledesma SA BUE:LEDE
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Ledesma 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 Feb. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ARS-18,264 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 ARS-18,264 Mil mean?
Ledesma (BUE:LEDE) has a Operating Income of ARS-18,264 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Ledesma and its competitors.
Is Ledesma's Operating Income too high?
Ledesma's current Operating Income is ARS-18,264 Mil. Overall, Ledesma has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ledesma's Operating Income compare to HON and MMM?
Ledesma's Operating Income of ARS-18,264 Mil can be compared against companies in the Conglomerates 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 Conglomerates company?
A good Operating Income depends on the Conglomerates 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 Ledesma and its competitors. Ledesma's current Operating Income is ARS-18,264 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ledesma stock overvalued right now?
Based on GuruFocus' analysis, Ledesma (BUE:LEDE) is currently considered Modestly Undervalued. The stock's GF Value™ is ARS859.14, compared to a current price of ARS741.00 — trading 13.8% below its estimated fair value. The current Operating Income is ARS-18,264 Mil. Ledesma's overall GF Score™ is 70/100 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 Ledesma (BUE:LEDE), the current Operating Income is ARS-18,264 Mil as of Feb. 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 Ledesma (BUE:LEDE) Overvalued in 2026?

Based on GuruFocus' analysis, Ledesma stock appears to be undervalued. The current stock price of ARS741.00 is trading 13.8% below its estimated GF Value™ of ARS859.14. GuruFocus considers Ledesma to be Modestly Undervalued.

Key valuation signals for BUE:LEDE:

  • Operating Income: ARS-18,264 Mil
  • GF Value™: ARS859.14 vs. price of ARS741.00 (13.8% below fair value)
  • GF Score™: 70/100 with 6 warning signs

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

Ledesma Business Description

Address Avenida Corrientes 415, 8th Floor, Capital Federal, Buenos Aires, ARG
Ledesma SA is engaged in the production of sugar, paper, alcohol, bioethanol, energy, natural juices, meat, syrups, corn starches and cereals. The company also produces notebooks and other school supplies. The geographical scope of the Ledesma Group's operations is mainly in the Argentine Republic. It mainly carry out activities mainly of sugar sugar mill, alcohol distillery both hydrated intended for traditional uses and anhydrous, for bio-fuels, manufacturing of paper and stationery, production of fruits and juices and Agriculture and Livestock. It is one of the main players in the local markets for the production and marketing of sugar, alcohol, reams of paper, notebooks, coated papers and school supplies, and is the main exporter of oranges and grapefruits in the country.
70GF Score

Get the complete analysis for BUE:LEDE

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

ARS741.00
Price
ARS859.14
GF Value