CDA (Compagnie des Alpes) (CHIX:CDAP) Operating Income: €193 Mil (TTM As of Mar. 2026)


CHIX:CDAP CDA (Compagnie des Alpes) CHIX:CDAP
83 GF Score
Price €22.05
GF Value €20.36
Valuation Fairly Valued
! 2 Warning Signs
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What is CDA (Compagnie des Alpes) Operating Income?

CDA (Compagnie des Alpes) CHIX:CDAP 83 Operating Income is €193 Mil as of Mar. 2026. GuruFocus rates CHIX:CDAP with a GF Score™ of 83/100 and a GF Value™ of €20.36 (Fairly Valued). The stock has 2 warning signs investors should review.

CDA (Compagnie des Alpes)'s Operating Income for the six months ended in Mar. 2026 was €207 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €193 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. CDA (Compagnie des Alpes)'s Operating Income for the six months ended in Mar. 2026 was €207 Mil. CDA (Compagnie des Alpes)'s Revenue for the six months ended in Mar. 2026 was €883 Mil. Therefore, CDA (Compagnie des Alpes)'s Operating Margin % for the quarter that ended in Mar. 2026 was 23.45%.

CDA (Compagnie des Alpes)'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. CDA (Compagnie des Alpes)'s annualized ROC % for the quarter that ended in Mar. 2026 was 9.09%. CDA (Compagnie des Alpes)'s annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 20.54%.


CDA (Compagnie des Alpes)  (CHIX:CDAp) Operating Income Explanation

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

CDA (Compagnie des Alpes)'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 )
=414.02 * ( 1 - 25.37% )/( (3391.049 + 3405.64)/ 2 )
=308.983126/3398.3445
=9.09 %

where

Invested Capital(Q: Sep. 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))
=3235.848 - 236.257 - ( 160.698 - max(0, 842.859 - 451.401+160.698))
=3391.049

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))
=3405.56 - 376.371 - ( 134.35 - max(0, 852.056 - 475.605+134.35))
=3405.64

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:

CDA (Compagnie des Alpes)'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 )
=436.316/( ( (2064.093 + max(-225.625, 0)) + (2183.764 + max(-350.649, 0)) )/ 2 )
=436.316/( ( 2064.093 + 2183.764 )/ 2 )
=436.316/2123.9285
=20.54 %

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)
=(33.602 + 33.546 + 193.859) - (236.257 + 0 + 250.375)
=-225.625

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(69.168 + 37.142 + 203.243) - (376.371 + 0 + 283.831)
=-350.649

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 %:

CDA (Compagnie des Alpes)'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 )
=207.01/882.735
=23.45 %

* 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.


CDA (Compagnie des Alpes) Operating Income Related Terms


CDA (Compagnie des Alpes) Operating Income Historical Data

* Premium members only.

The historical data trend for CDA (Compagnie des Alpes)'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.

CDA (Compagnie des Alpes) Operating Income Chart

CDA (Compagnie des Alpes) 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 -249.21 140.98 133.23 153.92 191.24

CDA (Compagnie des Alpes) 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 185.71 -31.79 205.49 -14.25 207.01
CHIX:CDAP
83GF Score
CDA (Compagnie des Alpes) CHIX:CDAP
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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CDA (Compagnie des Alpes) 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 €193 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 €193 Mil mean?
CDA (Compagnie des Alpes) (CHIX:CDAP) has a Operating Income of €193 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on CDA (Compagnie des Alpes) and its competitors.
Is CDA (Compagnie des Alpes)'s Operating Income too high?
CDA (Compagnie des Alpes)'s current Operating Income is €193 Mil. Overall, CDA (Compagnie des Alpes) has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CDA (Compagnie des Alpes)'s Operating Income compare to AS and HAS?
CDA (Compagnie des Alpes)'s Operating Income of €193 Mil can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Operating Income depends on the Travel & Leisure 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 CDA (Compagnie des Alpes) and its competitors. CDA (Compagnie des Alpes)'s current Operating Income is €193 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CDA (Compagnie des Alpes) stock overvalued right now?
Based on GuruFocus' analysis, CDA (Compagnie des Alpes) (CHIX:CDAP) is currently considered Fairly Valued. The stock's GF Value™ is €20.36, compared to a current price of €22.05 — trading 8.3% above its estimated fair value. The current Operating Income is €193 Mil. CDA (Compagnie des Alpes)'s overall GF Score™ is 83/100 with 2 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 CDA (Compagnie des Alpes) (CHIX:CDAP), the current Operating Income is €193 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 CDA (Compagnie des Alpes) (CHIX:CDAP) Overvalued in 2026?

Based on GuruFocus' analysis, CDA (Compagnie des Alpes) stock appears to be overvalued. The current stock price of €22.05 is trading 8.3% above its estimated GF Value™ of €20.36. GuruFocus considers CDA (Compagnie des Alpes) to be Fairly Valued.

Key valuation signals for CHIX:CDAP:

  • Operating Income: €193 Mil
  • GF Value™: €20.36 vs. price of €22.05 (8.3% above fair value)
  • GF Score™: 83/100 with 2 warning signs

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


CDA (Compagnie des Alpes) Business Description

Address 50-52 Boulevard Haussmann, Paris, FRA, 75009
CDA (Compagnie des Alpes) is a France-based holding company. The group's main business activity is the operation of entertainment facilities. Its primary operating segments are ski areas, which include the operation of ski lifts and maintenance of ski runs and trails; leisure parks, which cover the operation of theme parks, combined amusement and animal parks, water parks, wax museums, and tourist sites; and Holding & support segment.
83GF Score

Get the complete analysis for CHIX:CDAP

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

€22.05
Price
€20.36
GF Value