Grenke AG (CHIX:GLJD) Operating Income: €172 Mil (TTM As of Mar. 2026)


CHIX:GLJD Grenke AG CHIX:GLJD
58 GF Score
Price €12.31
GF Value €26.77
Valuation Possible Value Trap
! 3 Warning Signs
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What is Grenke AG Operating Income?

Grenke AG CHIX:GLJD 58 Operating Income is €172 Mil as of Mar. 2026. GuruFocus rates CHIX:GLJD with a GF Score™ of 58/100 and a GF Value™ of €26.77 (Possible Value Trap). The stock has 3 warning signs investors should review.

Grenke AG's Operating Income for the three months ended in Mar. 2026 was €43 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €172 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Grenke AG's Operating Income for the three months ended in Mar. 2026 was €43 Mil. Grenke AG's Revenue for the three months ended in Mar. 2026 was €237 Mil. Therefore, Grenke AG's Operating Margin % for the quarter that ended in Mar. 2026 was 18.16%.

Warning Sign:

Grenke AG operating margin has been in a 5-year decline. The average rate of decline per year is -17.5%.

Grenke AG's 5-Year average Growth Rate for Operating Margin % was -17.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Grenke AG's annualized ROC % for the quarter that ended in Mar. 2026 was 1.55%. Grenke AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 6.51%.


Grenke AG  (CHIX:GLJd) Operating Income Explanation

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

Grenke AG'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 )
=172.084 * ( 1 - 24.77% )/( (8301.732 + 8386.285)/ 2 )
=129.4587932/8344.0085
=1.55 %

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))
=9089.202 - 94.003 - ( 693.467 - max(0, 2975.104 - 3694.708+693.467))
=8301.732

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))
=9363.908 - 72.874 - ( 974.843 - max(0, 3008.571 - 3913.32+974.843))
=8386.285

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

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

Grenke AG'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 )
=85.58/( ( (268.999 + max(1153.754, 0)) + (253.274 + max(951.292, 0)) )/ 2 )
=85.58/( ( 1422.753 + 1204.566 )/ 2 )
=85.58/1313.6595
=6.51 %

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)
=(10.758 + 0.212 + 2843.942) - (94.003 + 0 + 1607.155)
=1153.754

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(11.904 + 0 + 2926.573) - (72.874 + 0 + 1914.311)
=951.292

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 %:

Grenke AG'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 )
=43.021/236.924
=18.16 %

* 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.


Grenke AG Operating Income Related Terms


Grenke AG Operating Income Historical Data

* Premium members only.

The historical data trend for Grenke AG'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.

Grenke AG Operating Income Chart

Grenke AG 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 157.48 76.66 109.09 128.51 167.28

Grenke AG 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 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 38.00 41.25 45.23 42.80 43.02
CHIX:GLJD
58GF Score
Grenke AG CHIX:GLJD
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Grenke AG 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 €172 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 €172 Mil mean?
Grenke AG (CHIX:GLJD) has a Operating Income of €172 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Grenke AG and its competitors.
Is Grenke AG's Operating Income too high?
Grenke AG's current Operating Income is €172 Mil. Overall, Grenke AG has a GF Score™ of 58/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Grenke AG's Operating Income compare to V and MA?
Grenke AG's Operating Income of €172 Mil can be compared against companies in the Credit Services 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 Credit Services company?
A good Operating Income depends on the Credit Services 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 Grenke AG and its competitors. Grenke AG's current Operating Income is €172 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Grenke AG stock overvalued right now?
Based on GuruFocus' analysis, Grenke AG (CHIX:GLJD) is currently considered Possible Value Trap. The stock's GF Value™ is €26.77, compared to a current price of €12.31 — trading 54% below its estimated fair value. The current Operating Income is €172 Mil. Grenke AG's overall GF Score™ is 58/100 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 Grenke AG (CHIX:GLJD), the current Operating Income is €172 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 Grenke AG (CHIX:GLJD) Overvalued in 2026?

Based on GuruFocus' analysis, Grenke AG stock appears to be undervalued. The current stock price of €12.31 is trading 54% below its estimated GF Value™ of €26.77. GuruFocus considers Grenke AG to be Possible Value Trap.

Key valuation signals for CHIX:GLJD:

  • Operating Income: €172 Mil
  • GF Value™: €26.77 vs. price of €12.31 (54% below fair value)
  • GF Score™: 58/100 with 3 warning signs

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


Grenke AG Business Description

Address Neuer Markt 2, Baden-Baden, DEU, 76532
Grenke AG is a financial services company that, under a franchise model, provides operational infrastructure and other support services. The firm retains the right to acquire the franchisee based on a predetermined formula and time frame. The company's reporting segments include: The Leasing segment, which generates key revenue, and consists of financing to commercial lessees, rental, service, protection and maintenance offerings, and the disposal of used equipment. The Banking segment acts as a financing partner, particularly to small- and medium-sized companies, and the Factoring segment offers traditional factoring services with a focus on small-ticket factoring.
58GF Score

Get the complete analysis for CHIX:GLJD

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

€12.31
Price
€26.77
GF Value