Mutares SE KGaA (CHIX:MUXD) Operating Income: €-341 Mil (TTM As of Mar. 2026)

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CHIX:MUXD Mutares SE & Co KGaA CHIX:MUXD
46 GF Score
Price €24.55
! 6 Warning Signs
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What is Mutares SE KGaA Operating Income?

Mutares SE KGaA CHIX:MUXD 46 Operating Income is €-341 Mil as of Mar. 2026. GuruFocus rates CHIX:MUXD with a GF Score™ of 46/100. The stock has 6 warning signs investors should review.

Mutares SE KGaA's Operating Income for the three months ended in Mar. 2026 was €-153 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €-341 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Mutares SE KGaA's Operating Income for the three months ended in Mar. 2026 was €-153 Mil. Mutares SE KGaA's Revenue for the three months ended in Mar. 2026 was €1,679 Mil. Therefore, Mutares SE KGaA's Operating Margin % for the quarter that ended in Mar. 2026 was -9.08%.

Warning Sign:

Mutares SE & Co KGaA operating margin has been in a 5-year decline. The average rate of decline per year is -5.6%.

Mutares SE KGaA's 5-Year average Growth Rate for Operating Margin % was -5.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mutares SE KGaA's annualized ROC % for the quarter that ended in Mar. 2026 was -12.17%. Mutares SE KGaA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -35.14%.


Mutares SE KGaA  (CHIX:MUXd) Operating Income Explanation

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

Mutares SE KGaA'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 )
=-610 * ( 1 - 7.8% )/( (4600.5 + 4645)/ 2 )
=-562.42/4622.75
=-12.17 %

where

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

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

Mutares SE KGaA'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 )
=-610/( ( (1758.8 + max(-256.9, 0)) + (1712.7 + max(-920.4, 0)) )/ 2 )
=-610/( ( 1758.8 + 1712.7 )/ 2 )
=-610/1735.75
=-35.14 %

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)
=(709.3 + 919.1 + 535.4) - (994.1 + 0 + 1426.6)
=-256.9

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(798.8 + 1043 + 618.2) - (940.3 + 0 + 2440.1)
=-920.4

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 %:

Mutares SE KGaA'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 )
=-152.5/1678.7
=-9.08 %

* 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.


Mutares SE KGaA Operating Income Related Terms


Mutares SE KGaA Operating Income Historical Data

* Premium members only.

The historical data trend for Mutares SE KGaA'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.

Mutares SE KGaA Operating Income Chart

Mutares SE KGaA 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 -245.60 -298.30 -397.80 -786.90 -819.20

Mutares SE KGaA Quarterly Data
Jun20 Dec20 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Dec24 Mar25 Jun25 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 0.00 -188.30 -188.30 0.00 -152.50
CHIX:MUXD
46GF Score
Mutares SE & Co KGaA CHIX:MUXD
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Mutares SE KGaA 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 €-341 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 €-341 Mil mean?
Mutares SE KGaA (CHIX:MUXD) has a Operating Income of €-341 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Mutares SE KGaA and its competitors.
Is Mutares SE KGaA's Operating Income too high?
Mutares SE KGaA's current Operating Income is €-341 Mil. Overall, Mutares SE KGaA has a GF Score™ of 46/100, reflecting its overall financial health beyond just this single metric.
How does Mutares SE KGaA's Operating Income compare to BLK and BX?
Mutares SE KGaA's Operating Income of €-341 Mil can be compared against companies in the Asset Management 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 Asset Management company?
A good Operating Income depends on the Asset Management 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 Mutares SE KGaA and its competitors. Mutares SE KGaA's current Operating Income is €-341 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mutares SE KGaA stock overvalued right now?
Mutares SE KGaA (CHIX:MUXD) has a current Operating Income of €-341 Mil. The current Operating Income is €-341 Mil. Mutares SE KGaA's overall GF Score™ is 46/100 with 6 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 Mutares SE KGaA (CHIX:MUXD), the current Operating Income is €-341 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.

Mutares SE KGaA Business Description

Address Arnulfstrasse 19, Munich, DEU, 80335
Mutares SE & Co KGaA is a holding company. Its primary business is to acquire small and medium-sized companies in special situations. The company's operating segment includes the Automotive & Mobility segment includes the acquired companies that are engaged in the supplying of rubber mouldings, components for commercial vehicles, and others; the Engineering and Technology segment includes acquired companies that are engaged in the supplying of coating for oil and gas pipelines, components for increasing efficiency, provider of steel structures, roof and facade systems, and others; Goods and services segment includes acquired companies that are engaged in the manufacturing of packaging solutions, iron wire, paper household products, and logistics services.
46GF Score

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

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