Industrie De Nora SpA (CHIX:DNRM) Operating Income: €127.8 Mil (TTM As of Jun. 2026)

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CHIX:DNRM Industrie De Nora SpA CHIX:DNRM
82 GF Score
Price €7.52
GF Value €8.87
! 7 Warning Signs
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What is Industrie De Nora SpA Operating Income?

Industrie De Nora SpA CHIX:DNRM 82 Operating Income is €127.8 Mil as of Jun. 2026. GuruFocus rates CHIX:DNRM with a GF Score™ of 82/100 and a GF Value™ of €8.87. The stock has 7 warning signs investors should review.

Industrie De Nora SpA's Operating Income for the three months ended in Jun. 2026 was €35.8 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was €127.8 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Industrie De Nora SpA's Operating Income for the three months ended in Jun. 2026 was €35.8 Mil. Industrie De Nora SpA's Revenue for the three months ended in Jun. 2026 was €224.6 Mil. Therefore, Industrie De Nora SpA's Operating Margin % for the quarter that ended in Jun. 2026 was 15.95%.

Good Sign:

Industrie De Nora SpA operating margin is expanding. Margin expansion is usually a good sign.

Industrie De Nora SpA's 5-Year average Growth Rate for Operating Margin % was 3.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Industrie De Nora SpA's annualized ROC % for the quarter that ended in Jun. 2026 was 7.79%. Industrie De Nora SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 21.95%.


Industrie De Nora SpA  (CHIX:DNRm) Operating Income Explanation

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

Industrie De Nora SpA's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=143.256 * ( 1 - 43.87% )/( (951.818 + 1112.505)/ 2 )
=80.4095928/1032.1615
=7.79 %

where

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))
=1189.021 - 113.462 - ( 123.741 - max(0, 150.353 - 523.509+123.741))
=951.818

Invested Capital(Q: Jun. 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))
=1344.542 - 92.776 - ( 139.261 - max(0, 242.988 - 671.332+139.261))
=1112.505

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

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

Industrie De Nora SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=143.256/( ( (315.552 + max(290.729, 0)) + (330.481 + max(368.588, 0)) )/ 2 )
=143.256/( ( 606.281 + 699.069 )/ 2 )
=143.256/652.675
=21.95 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(152.948 + 214.38 + 0) - (113.462 + 0 + -36.863)
=290.729

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(183.254 + 313.06 + 0) - (92.776 + 0 + 34.95)
=368.588

When net working capital is negative, 0 is used.

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

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

Industrie De Nora SpA's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=35.814/224.553
=15.95 %

* 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.


Industrie De Nora SpA Operating Income Related Terms


Industrie De Nora SpA Operating Income Historical Data

* Premium members only.

The historical data trend for Industrie De Nora SpA'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.

Industrie De Nora SpA Operating Income Chart

Industrie De Nora SpA Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 89.17 130.76 133.58 103.99 121.89

Industrie De Nora SpA Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 31.78 32.45 33.01 26.53 35.81
CHIX:DNRM
82GF Score
Industrie De Nora SpA CHIX:DNRM
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Industrie De Nora SpA 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 Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €127.8 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 €127.8 Mil mean?
Industrie De Nora SpA (CHIX:DNRM) has a Operating Income of €127.8 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Industrie De Nora SpA and its competitors.
Is Industrie De Nora SpA's Operating Income too high?
Industrie De Nora SpA's current Operating Income is €127.8 Mil. Overall, Industrie De Nora SpA has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does Industrie De Nora SpA's Operating Income compare to VRT and BE?
Industrie De Nora SpA's Operating Income of €127.8 Mil can be compared against companies in the Industrial Products 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 Industrial Products company?
A good Operating Income depends on the Industrial Products 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 Industrie De Nora SpA and its competitors. Industrie De Nora SpA's current Operating Income is €127.8 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Industrie De Nora SpA stock overvalued right now?
Industrie De Nora SpA (CHIX:DNRM) has a current Operating Income of €127.8 Mil. The stock's GF Value™ is €8.87, compared to a current price of €7.52 — trading 15.2% below its estimated fair value. The current Operating Income is €127.8 Mil. Industrie De Nora SpA's overall GF Score™ is 82/100 with 7 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 Industrie De Nora SpA (CHIX:DNRM), the current Operating Income is €127.8 Mil as of Jun. 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 Industrie De Nora SpA (CHIX:DNRM) Overvalued in 2026?

Based on GuruFocus' analysis, Industrie De Nora SpA stock appears to be undervalued. The current stock price of €7.52 is trading 15.2% below its estimated GF Value™ of €8.87.

Key valuation signals for CHIX:DNRM:

  • Operating Income: €127.8 Mil
  • GF Value™: €8.87 vs. price of €7.52 (15.2% below fair value)
  • GF Score™: 82/100 with 7 warning signs

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


Industrie De Nora SpA Business Description

Other Exchanges DNR:Italy0ABI:UKM3D:Germany
Address Via Leonardo Bistolfi, 35, Milan, ITA, 20134
Industrie De Nora SpA manufactures and distributes chemicals. The company is organized into three segments: the Electrode Technologies business, Energy Transition and the Water Technologies business. Electrode Technologies segment earns the majority of companies revenues. The company's products include Analyzers & Detectors, Anodes for Chlorine Evolution, Anodes for oxygen evolution, Cathodes for Hydrogen Evolution, Disinfection systems, Electrochlorination systems, Filtration Solutions, Membrane Technologies, Contaminant removal systems.
82GF Score

Get the complete analysis for CHIX:DNRM

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

€7.52
Price
€8.87
GF Value