Auto Nejma (CAS:NEJ) Operating Income: MAD533 Mil (TTM As of Dec. 2025)


CAS:NEJ Auto Nejma CAS:NEJ
39 GF Score
Price MAD4,834.00
GF Value MAD3,975.06
! 3 Warning Signs
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What is Auto Nejma Operating Income?

Auto Nejma CAS:NEJ 39 Operating Income is MAD533 Mil as of Dec. 2025. GuruFocus rates CAS:NEJ with a GF Score™ of 39/100 and a GF Value™ of MAD3,975.06. The stock has 3 warning signs investors should review.

Auto Nejma's Operating Income for the six months ended in Dec. 2025 was MAD296 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was MAD533 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Auto Nejma's Operating Income for the six months ended in Dec. 2025 was MAD296 Mil. Auto Nejma's Revenue for the six months ended in Dec. 2025 was MAD2,379 Mil. Therefore, Auto Nejma's Operating Margin % for the quarter that ended in Dec. 2025 was 12.44%.

Good Sign:

Auto Nejma operating margin is expanding. Margin expansion is usually a good sign.

Auto Nejma's 5-Year average Growth Rate for Operating Margin % was 9.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Auto Nejma's annualized ROC % for the quarter that ended in Dec. 2025 was 18.33%. Auto Nejma's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 39.88%.


Auto Nejma  (CAS:NEJ) Operating Income Explanation

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

Auto Nejma's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=591.818 * ( 1 - 37.36% )/( (2045.334 + 2000.156)/ 2 )
=370.7147952/2022.745
=18.33 %

where

Invested Capital(Q: Jun. 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))
=3551.967 - 1033.222 - ( 473.411 - max(0, 1479.769 - 2732.517+473.411))
=2045.334

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))
=3499.865 - 1044.352 - ( 455.357 - max(0, 1314.175 - 2638.264+455.357))
=2000.156

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

Auto Nejma's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=594.09/( ( (793.073 + max(540.535, 0)) + (825.43 + max(820.117, 0)) )/ 2 )
=594.09/( ( 1333.608 + 1645.547 )/ 2 )
=594.09/1489.5775
=39.88 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(549.842 + 1384.136 + 86.326) - (1033.222 + 0 + 446.547)
=540.535

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(683.368 + 1450.924 + 0) - (1044.352 + 0 + 269.823)
=820.117

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

Auto Nejma's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=295.909/2378.659
=12.44 %

* 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.


Auto Nejma Operating Income Related Terms


Auto Nejma Operating Income Historical Data

* Premium members only.

The historical data trend for Auto Nejma'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.

Auto Nejma Operating Income Chart

Auto Nejma 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 220.99 287.64 264.83 357.92 533.04

Auto Nejma Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 130.63 154.92 203.00 237.13 295.91
CAS:NEJ
39GF Score
Auto Nejma CAS:NEJ
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Auto Nejma 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was MAD533 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 MAD533 Mil mean?
Auto Nejma (CAS:NEJ) has a Operating Income of MAD533 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Auto Nejma and its competitors.
Is Auto Nejma's Operating Income too high?
Auto Nejma's current Operating Income is MAD533 Mil. Overall, Auto Nejma has a GF Score™ of 39/100, reflecting its overall financial health beyond just this single metric.
How does Auto Nejma's Operating Income compare to CVNA and PAG?
Auto Nejma's Operating Income of MAD533 Mil can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good Operating Income depends on the Vehicles & Parts 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 Auto Nejma and its competitors. Auto Nejma's current Operating Income is MAD533 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Auto Nejma stock overvalued right now?
Auto Nejma (CAS:NEJ) has a current Operating Income of MAD533 Mil. The stock's GF Value™ is MAD3,975.06, compared to a current price of MAD4,834.00 — trading 21.6% above its estimated fair value. The current Operating Income is MAD533 Mil. Auto Nejma's overall GF Score™ is 39/100 with 3 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 Auto Nejma (CAS:NEJ), the current Operating Income is MAD533 Mil as of Dec. 2025. 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 Auto Nejma (CAS:NEJ) Overvalued in 2026?

Based on GuruFocus' analysis, Auto Nejma stock appears to be overvalued. The current stock price of MAD4,834.00 is trading 21.6% above its estimated GF Value™ of MAD3,975.06.

Key valuation signals for CAS:NEJ:

  • Operating Income: MAD533 Mil
  • GF Value™: MAD3,975.06 vs. price of MAD4,834.00 (21.6% above fair value)
  • GF Score™: 39/100 with 3 warning signs

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


Auto Nejma Business Description

Address Km 10, El Jadida Road, Casablanca, MAR, 20230
Auto Nejma is an automobile distributor in Morocco. The company imports and markets vehicles, spare parts, and car accessories. It represents the Mercedes-Benz private and commercial vehicle brands, SsangYong, and Mahindra in Morocco.
39GF Score

Get the complete analysis for CAS:NEJ

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

MAD4,834.00
Price
MAD3,975.06
GF Value