Frasers Group (CHIX:FRASL) Operating Income: £520 Mil (TTM As of Oct. 2025)

What is Frasers Group Operating Income?

Frasers Group CHIX:FRASL +1.02% 87 Operating Income is £520 Mil as of Oct. 2025. GuruFocus rates CHIX:FRASL with a GF Score™ of 87/100 and a GF Value™ of £7.94 (Fairly Valued). The stock has 5 warning signs investors should review.

Frasers Group's Operating Income for the six months ended in Oct. 2025 was £240 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Oct. 2025 was £520 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Frasers Group's Operating Income for the six months ended in Oct. 2025 was £240 Mil. Frasers Group's Revenue for the six months ended in Oct. 2025 was £2,581 Mil. Therefore, Frasers Group's Operating Margin % for the quarter that ended in Oct. 2025 was 9.30%.

Good Sign:

Frasers Group PLC operating margin is expanding. Margin expansion is usually a good sign.

Frasers Group's 5-Year average Growth Rate for Operating Margin % was 11.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Frasers Group's annualized ROC % for the quarter that ended in Oct. 2025 was 7.66%. Frasers Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Oct. 2025 was 44.43%.

Frasers Group (CHIX:FRASl) Operating Income Explanation

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

Frasers Group's annualized ROC % for the quarter that ended in Oct. 2025 is calculated as:

	ROC % (Q: Oct. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Apr. 2025 )	+	Invested Capital (Q: Oct. 2025 ))	/ count )
=	480.2 * ( 1 - 26.89% )	/	( (4391	+	4775.8)	/ 2 )
=	351.07422	/	4583.4
=	7.66 %

where

	Invested Capital		(Q: Apr. 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	))
=	5130.7	-	487.5	-	( 252.2	-	max(0, 1236.8	-	2355.6	+	252.2	))
=	4391

	Invested Capital		(Q: Oct. 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	))
=	6074.5	-	938.9	-	( 359.8	-	max(0, 1295.8	-	2693.1	+	359.8	))
=	4775.8

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

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

Frasers Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Oct. 2025 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Oct. 2025 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Apr. 2025		Q: Oct. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	967.8	/	( ( (1097.2 + max(979.7, 0))	+	(1229.8 + max(1049.7, 0)) )	/	2 )
=	967.8	/	( ( 2076.9	+	2279.5 )	/	2 )
=	967.8	/	2178.2
=	44.43 %

where Working Capital is:

	Working Capital		(Q: Apr. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(246.6	+	1128.3	+	657)	-	(487.5	+	0	+	564.7)
=	979.7

	Working Capital		(Q: Oct. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(215.9	+	1453	+	520.9)	-	(938.9	+	0	+	201.2)
=	1049.7

When net working capital is negative, 0 is used.

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

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

Frasers Group's Operating Margin % for the quarter that ended in Oct. 2025 is calculated as:

Operating Margin %	=	Operating Income (Q: Oct. 2025 )	/	Revenue (Q: Oct. 2025 )
	=	240.1	/	2581.3
	=	9.30 %

* 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.

Frasers Group Operating Income Related Terms

Frasers Group Operating Income Historical Data

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The historical data trend for Frasers Group's Operating Income can be seen below:

Frasers Group Operating Income Chart

Frasers Group Annual Data

Trend

Apr16

Apr17

Apr18

Apr19

Apr20

Apr21

Apr22

Apr23

Apr24

Apr25

Operating Income

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235.60

518.70

447.90

514.10

533.70

Frasers Group Semi-Annual Data
	Apr16	Oct16	Apr17	Oct17	Apr18	Oct18	Apr19	Oct19	Apr20	Oct20	Apr21	Oct21	Apr22	Oct22	Apr23	Oct23	Apr24	Oct24	Apr25	Oct25
Operating Income	Get a 7-Day Free Trial															292.20	221.90	253.80	279.90	240.10

87GF Score

Frasers Group PLC CHIX:FRASL

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Frasers Group 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 Oct. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was £520 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of £520 Mil mean?

Frasers Group (CHIX:FRASL) has a Operating Income of £520 Mil as of Oct. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Frasers Group and its competitors.

Is Frasers Group's Operating Income too high?

Frasers Group's current Operating Income is £520 Mil. Overall, Frasers Group has a GF Score™ of 87/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Frasers Group's Operating Income compare to CASY and WSM?

Frasers Group's Operating Income of £520 Mil can be compared against companies in the Retail - Cyclical 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 Retail - Cyclical company?

A good Operating Income depends on the Retail - Cyclical 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 Frasers Group and its competitors. Frasers Group's current Operating Income is £520 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Frasers Group stock overvalued right now?

Based on GuruFocus' analysis, Frasers Group (CHIX:FRASL) is currently considered Fairly Valued. The stock's GF Value™ is £7.94, compared to a current price of £7.46 — trading 6.1% below its estimated fair value. The current Operating Income is £520 Mil. Frasers Group's overall GF Score™ is 87/100 with 5 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 Frasers Group (CHIX:FRASL), the current Operating Income is £520 Mil as of Oct. 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 Frasers Group (CHIX:FRASL) Overvalued in 2026?

Based on GuruFocus' analysis, Frasers Group stock appears to be undervalued. The current stock price of £7.46 is trading 6.1% below its estimated GF Value™ of £7.94. GuruFocus considers Frasers Group to be Fairly Valued.

Key valuation signals for CHIX:FRASL:

Operating Income: £520 Mil
GF Value™: £7.94 vs. price of £7.46 (6.1% below fair value)
GF Score™: 87/100 with 5 warning signs

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

Frasers Group Business Description

Industry Consumer Cyclical Retail - Cyclical

Comparable Companies LSE:CURY LSE:DNLM LSE:PETS LSE:MOON LSE:SMWH LSE:AO.LSE:HFD LSE:DFS LSE:CARD LSE:IGR TSX:ATD CASY WSM DKS ULTA BBY TSCO SHSE:601888 ADX:ADNOCDIST TPE:3045

Other Exchanges SDIPF:USA FRAS:UK ZVX:Germany

Address Unit A, Brook Park East, Shirebrook, GBR, NG20 8RY

Website https://www.frasers.group

Frasers Group PLC is a U.K. sports goods retailer. The diversified portfolio of Sports, Fitness, Premium Lifestyle and Luxury Store Fascias. Its brands are Sports Direct, House of Fraser, Flannels, Amara Living, Evans Cycles, Game, Jack Wills, and Others. The company has five segments five operating segments: UK Sports, Premium Lifestyle, International, Property and Financial Services. It operates stores in the United Kingdom, Europe, Asia, Oceania and USA. It generates the majority of the revenue from UK Sports includes the results of the Group's core sports retail store operations in the UK, plus all the Group's sports retail online business, other UK-based sports retail and wholesale operations, GAME UK stores and online operations, retail store operations.

87GF Score

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

£7.46

Price

£7.94

GF Value

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