Cementir Holding NV (CHIX:CEMM) Operating Income: €195 Mil (TTM As of Mar. 2026)

What is Cementir Holding NV Operating Income?

Cementir Holding NV CHIX:CEMM 79 Operating Income is €195 Mil as of Mar. 2026. GuruFocus rates CHIX:CEMM with a GF Score™ of 79/100 and a GF Value™ of €10.16 (Significantly Overvalued). The stock has 2 warning signs investors should review.

Cementir Holding NV's Operating Income for the three months ended in Mar. 2026 was €2 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €195 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Cementir Holding NV's Operating Income for the three months ended in Mar. 2026 was €2 Mil. Cementir Holding NV's Revenue for the three months ended in Mar. 2026 was €346 Mil. Therefore, Cementir Holding NV's Operating Margin % for the quarter that ended in Mar. 2026 was 0.67%.

Good Sign:

Cementir Holding NV operating margin is expanding. Margin expansion is usually a good sign.

Cementir Holding NV's 5-Year average Growth Rate for Operating Margin % was 5.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Cementir Holding NV's annualized ROC % for the quarter that ended in Mar. 2026 was 0.49%. Cementir Holding NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 0.98%.

Cementir Holding NV (CHIX:CEMm) Operating Income Explanation

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

Cementir Holding NV'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 )
=	9.28 * ( 1 - 0% )	/	( (1893.238	+	0)	/ 1 )
=	9.28	/	1893.238
=	0.49 %

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	))
=	2853.287	-	378.941	-	( 618.783	-	max(0, 523.102	-	1104.21	+	618.783	))
=	1893.238

	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	))
=	0	-	0	-	( 0	-	max(0, 0	-	0	+	0	))
=	0

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

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

Cementir Holding NV'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 )
=	9.28	/	( ( (948.047 + max(-59.733, 0))	+	(0 + max(0, 0)) )	/	1 )
=	9.28	/	( ( 948.047	+	0 )	/	1 )
=	9.28	/	948.047
=	0.98 %

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)
=	(146.326	+	239.409	+	46.031)	-	(378.941	+	0	+	112.558)
=	-59.733

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

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 %:

Cementir Holding NV'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 )
	=	2.32	/	345.901
	=	0.67 %

* 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.

Cementir Holding NV Operating Income Related Terms

Cementir Holding NV Operating Income Historical Data

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The historical data trend for Cementir Holding NV's Operating Income can be seen below:

Cementir Holding NV Operating Income Chart

Cementir Holding NV Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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169.59

179.86

248.50

235.79

236.17

Cementir Holding NV 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															31.15	58.64	77.28	56.87	2.32

79GF Score

Cementir Holding NV CHIX:CEMM

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Cementir Holding NV 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 €195 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of €195 Mil mean?

Cementir Holding NV (CHIX:CEMM) has a Operating Income of €195 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Cementir Holding NV and its competitors.

Is Cementir Holding NV's Operating Income too high?

Cementir Holding NV's current Operating Income is €195 Mil. Overall, Cementir Holding NV has a GF Score™ of 79/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Cementir Holding NV's Operating Income compare to CRH and VMC?

Cementir Holding NV's Operating Income of €195 Mil can be compared against companies in the Building Materials 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 Building Materials company?

A good Operating Income depends on the Building Materials 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 Cementir Holding NV and its competitors. Cementir Holding NV's current Operating Income is €195 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Cementir Holding NV stock overvalued right now?

Based on GuruFocus' analysis, Cementir Holding NV (CHIX:CEMM) is currently considered Significantly Overvalued. The stock's GF Value™ is €10.16, compared to a current price of €13.38 — trading 31.6% above its estimated fair value. The current Operating Income is €195 Mil. Cementir Holding NV's overall GF Score™ is 79/100 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 Cementir Holding NV (CHIX:CEMM), the current Operating Income is €195 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 Cementir Holding NV (CHIX:CEMM) Overvalued in 2026?

Based on GuruFocus' analysis, Cementir Holding NV stock appears to be overvalued. The current stock price of €13.38 is trading 31.6% above its estimated GF Value™ of €10.16. GuruFocus considers Cementir Holding NV to be Significantly Overvalued.

Key valuation signals for CHIX:CEMM:

Operating Income: €195 Mil
GF Value™: €10.16 vs. price of €13.38 (31.6% above fair value)
GF Score™: 79/100 with 2 warning signs

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

Cementir Holding NV Business Description

Industry Basic Materials Building Materials

Comparable Companies MIL:CALT MIL:BZU CRH XSWX:HOLN SHSE:600176 VMC XTER:HEI MLM BOM:532538 XSWX:AMRZ NSE:GRASIM MEX:CEMEXCPO JHX SHSE:600585 NSA:DCP BOM:500425 BOM:500387 NSA:BUACEMENT EXP TPE:1802

Other Exchanges CEM:Italy 0HY2:UK 3PC:Germany

Address Zuidplein 36, Amsterdam, NH, NLD, 1077 XV

Website https://www.cementirholding.com

Cementir Holding NV is a multinational company. The company creates a niche white cement segment, the cement producer in Denmark and ready-mixed concrete producer in the Scandinavian region, the third in Belgium, and among the international players in Turkiye. In Belgium, the Group operates one of the aggregate quarries in Europe, while in Turkiye, it operates in the treatment of industrial waste to produce fuel for its cement plants. It has segments as Cement, Ready-mixed concrete, Aggregates, Wastes, and Others, with the majority from Cement. Geographically, it gains revenue from the Nordic & Baltic regions.

79GF Score

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

€13.38

Price

€10.16

GF Value

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