Dubai Investments PJSC (DFM:DIC) Operating Income: د.إ870 Mil (TTM As of Mar. 2026)


DFM:DIC Dubai Investments PJSC DFM:DIC
60 GF Score
Price د.إ3.70
GF Value د.إ2.71
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Dubai Investments PJSC Operating Income?

Dubai Investments PJSC DFM:DIC -2.63% 60 Operating Income is د.إ870 Mil as of Mar. 2026. GuruFocus rates DFM:DIC with a GF Score™ of 60/100 and a GF Value™ of د.إ2.71 (Significantly Overvalued). The stock has 6 warning signs investors should review.

Dubai Investments PJSC's Operating Income for the three months ended in Mar. 2026 was د.إ258 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was د.إ870 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Dubai Investments PJSC's Operating Income for the three months ended in Mar. 2026 was د.إ258 Mil. Dubai Investments PJSC's Revenue for the three months ended in Mar. 2026 was د.إ800 Mil. Therefore, Dubai Investments PJSC's Operating Margin % for the quarter that ended in Mar. 2026 was 32.21%.

Good Sign:

Dubai Investments PJSC operating margin is expanding. Margin expansion is usually a good sign.

Dubai Investments PJSC's 5-Year average Growth Rate for Operating Margin % was 5.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Dubai Investments PJSC's annualized ROC % for the quarter that ended in Mar. 2026 was 5.47%. Dubai Investments PJSC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 32.81%.

Dubai Investments PJSC  (DFM:DIC) Operating Income Explanation

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

Dubai Investments PJSC'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 )
=1030.044 * ( 1 - 8.7% )/( (17474.104 + 16887.198)/ 2 )
=940.430172/17180.651
=5.47 %

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))
=23278.418 - 1765.318 - ( 4038.996 - max(0, 4049.467 - 8111.157+4038.996))
=17474.104

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))
=23431.04 - 2345.897 - ( 4197.945 - max(0, 3984.407 - 8212.719+4197.945))
=16887.198

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

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

Dubai Investments PJSC'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 )
=1057.232/( ( (1776.678 + max(1652.971, 0)) + (1789.865 + max(1224.659, 0)) )/ 2 )
=1057.232/( ( 3429.649 + 3014.524 )/ 2 )
=1057.232/3222.0865
=32.81 %

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)
=(2729.749 + 882.886 + 277.369) - (1765.318 + 0 + 471.715)
=1652.971

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2576.468 + 892.688 + 101.4) - (2345.897 + 0 + 0)
=1224.659

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 %:

Dubai Investments PJSC'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 )
=257.511/799.589
=32.21 %

* 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.

Dubai Investments PJSC Operating Income Related Terms

Dubai Investments PJSC Operating Income Historical Data

* Premium members only.

The historical data trend for Dubai Investments PJSC'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.

Dubai Investments PJSC Operating Income Chart

Dubai Investments PJSC 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 475.19 543.01 564.88 706.72 791.23

Dubai Investments PJSC 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 179.21 181.36 295.50 135.16 257.51
DFM:DIC
60GF Score
Dubai Investments PJSC DFM:DIC
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Dubai Investments PJSC 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 د.إ870 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 د.إ870 Mil mean?
Dubai Investments PJSC (DFM:DIC) has a Operating Income of د.إ870 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Dubai Investments PJSC and its competitors.
Is Dubai Investments PJSC's Operating Income too high?
Dubai Investments PJSC's current Operating Income is د.إ870 Mil. Overall, Dubai Investments PJSC has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Dubai Investments PJSC's Operating Income compare to competitors?
Dubai Investments PJSC's Operating Income of د.إ870 Mil can be compared against companies in the Real Estate 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 Real Estate company?
A good Operating Income depends on the Real Estate 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 Dubai Investments PJSC and its competitors. Dubai Investments PJSC's current Operating Income is د.إ870 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dubai Investments PJSC stock overvalued right now?
Based on GuruFocus' analysis, Dubai Investments PJSC (DFM:DIC) is currently considered Significantly Overvalued. The stock's GF Value™ is د.إ2.71, compared to a current price of د.إ3.70 — trading 36.5% above its estimated fair value. The current Operating Income is د.إ870 Mil. Dubai Investments PJSC's overall GF Score™ is 60/100 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 Dubai Investments PJSC (DFM:DIC), the current Operating Income is د.إ870 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 Dubai Investments PJSC (DFM:DIC) Overvalued in 2026?

Based on GuruFocus' analysis, Dubai Investments PJSC stock appears to be overvalued. The current stock price of د.إ3.70 is trading 36.5% above its estimated GF Value™ of د.إ2.71. GuruFocus considers Dubai Investments PJSC to be Significantly Overvalued.

Key valuation signals for DFM:DIC:

  • Operating Income: د.إ870 Mil
  • GF Value™: د.إ2.71 vs. price of د.إ3.70 (36.5% above fair value)
  • GF Score™: 60/100 with 6 warning signs

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

Dubai Investments PJSC Business Description

Address Dubai Investments Park, P.O. Box 28171, Jebel Ali, Dubai, ARE
Dubai Investments PJSC is an investment company with a focus on real estate, manufacturing, industrial, and financial investments across the Middle East. The operations are divided into three segments: The Property segment develops real estate for sale and leasing. The Manufacturing, Contracting, and Services segment manufactures and sells materials used in construction projects, executes construction contracts, produces raw and architectural glass, pharmaceutical products, cooling services, produces aluminum extruded products, laboratory furniture, healthcare, and education. The Investments segment includes strategic minority investments in associates, investment banking, asset management, and financial investments. It generates the majority of its revenue from the Property segment.
60GF Score

Get the complete analysis for DFM:DIC

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

د.إ3.70
Price
د.إ2.71
GF Value