Emirates Central Cooling Systems PJSC (DFM:EMPOWER) Operating Income: د.إ1,320 Mil (TTM As of Mar. 2026)

What is Emirates Central Cooling Systems PJSC Operating Income?

Emirates Central Cooling Systems PJSC DFM:EMPOWER -1.23% 80 Operating Income is د.إ1,320 Mil as of Mar. 2026. GuruFocus rates DFM:EMPOWER with a GF Score™ of 80/100 and a GF Value™ of د.إ1.87 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Emirates Central Cooling Systems PJSC's Operating Income for the three months ended in Mar. 2026 was د.إ264 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was د.إ1,320 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Emirates Central Cooling Systems PJSC's Operating Income for the three months ended in Mar. 2026 was د.إ264 Mil. Emirates Central Cooling Systems PJSC's Revenue for the three months ended in Mar. 2026 was د.إ645 Mil. Therefore, Emirates Central Cooling Systems PJSC's Operating Margin % for the quarter that ended in Mar. 2026 was 40.95%.

Warning Sign:

Emirates Central Cooling Systems Corp PJSC operating margin has been in a 5-year decline. The average rate of decline per year is -2.1%.

Emirates Central Cooling Systems PJSC's 5-Year average Growth Rate for Operating Margin % was -2.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Emirates Central Cooling Systems PJSC's annualized ROC % for the quarter that ended in Mar. 2026 was 8.71%. Emirates Central Cooling Systems PJSC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 15.39%.

Emirates Central Cooling Systems PJSC (DFM:EMPOWER) Operating Income Explanation

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

Emirates Central Cooling Systems 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 )
=	1056.112 * ( 1 - 8.97% )	/	( (10975.369	+	11110.089)	/ 2 )
=	961.3787536	/	11042.729
=	8.71 %

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	))
=	11816.822	-	495.609	-	( 2379.74	-	max(0, 2432.785	-	2778.629	+	2379.74	))
=	10975.369

	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	))
=	12117.057	-	927.076	-	( 2642.645	-	max(0, 2961.315	-	3041.207	+	2642.645	))
=	11110.089

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

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

Emirates Central Cooling Systems 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 )
=	1111.212	/	( ( (7196.868 + max(-2105.755, 0))	+	(7243.399 + max(-2658.689, 0)) )	/	2 )
=	1111.212	/	( ( 7196.868	+	7243.399 )	/	2 )
=	1111.212	/	7220.1335
=	15.39 %

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)
=	(176.815	+	55.718	+	89.193)	-	(495.609	+	0	+	1931.872)
=	-2105.755

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(155.539	+	58.997	+	83.97)	-	(927.076	+	0	+	2030.119)
=	-2658.689

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 %:

Emirates Central Cooling Systems 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 )
	=	264.028	/	644.769
	=	40.95 %

* 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.

Emirates Central Cooling Systems PJSC Operating Income Related Terms

Emirates Central Cooling Systems PJSC Operating Income Historical Data

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The historical data trend for Emirates Central Cooling Systems PJSC's Operating Income can be seen below:

Emirates Central Cooling Systems PJSC Operating Income Chart

Emirates Central Cooling Systems PJSC Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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928.65

1,056.29

1,124.51

1,196.80

1,259.72

Emirates Central Cooling Systems 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															205.03	326.96	356.84	371.78	264.03

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Emirates Central Cooling Systems Corp PJSC DFM:EMPOWER

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

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Emirates Central Cooling Systems 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.إ1,320 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of د.إ1,320 Mil mean?

Emirates Central Cooling Systems PJSC (DFM:EMPOWER) has a Operating Income of د.إ1,320 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Emirates Central Cooling Systems PJSC and its competitors.

Is Emirates Central Cooling Systems PJSC's Operating Income too high?

Emirates Central Cooling Systems PJSC's current Operating Income is د.إ1,320 Mil. Overall, Emirates Central Cooling Systems PJSC has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Emirates Central Cooling Systems PJSC's Operating Income compare to AWK and WTRG?

Emirates Central Cooling Systems PJSC's Operating Income of د.إ1,320 Mil can be compared against companies in the Utilities - Regulated 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 Utilities - Regulated company?

A good Operating Income depends on the Utilities - Regulated 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 Emirates Central Cooling Systems PJSC and its competitors. Emirates Central Cooling Systems PJSC's current Operating Income is د.إ1,320 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Emirates Central Cooling Systems PJSC stock overvalued right now?

Based on GuruFocus' analysis, Emirates Central Cooling Systems PJSC (DFM:EMPOWER) is currently considered Modestly Undervalued. The stock's GF Value™ is د.إ1.87, compared to a current price of د.إ1.61 — trading 13.9% below its estimated fair value. The current Operating Income is د.إ1,320 Mil. Emirates Central Cooling Systems PJSC's overall GF Score™ is 80/100 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 Emirates Central Cooling Systems PJSC (DFM:EMPOWER), the current Operating Income is د.إ1,320 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 Emirates Central Cooling Systems PJSC (DFM:EMPOWER) Overvalued in 2026?

Based on GuruFocus' analysis, Emirates Central Cooling Systems PJSC stock appears to be undervalued. The current stock price of د.إ1.61 is trading 13.9% below its estimated GF Value™ of د.إ1.87. GuruFocus considers Emirates Central Cooling Systems PJSC to be Modestly Undervalued.

Key valuation signals for DFM:EMPOWER:

Operating Income: د.إ1,320 Mil
GF Value™: د.إ1.87 vs. price of د.إ1.61 (13.9% below fair value)
GF Score™: 80/100 with 5 warning signs

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

Emirates Central Cooling Systems PJSC Business Description

Industry Utilities Utilities - Regulated

Comparable Companies DFM:TABREED AWK BSP:SBSP3 LSE:UU.LSE:SVT WTRG HKSE:00270 BSP:CSMG3 SHSE:600323 AWR LSE:PNN CWT HKSE:00371 SZSE:000598 SHSE:601158 HTO PHS:MYNLD SZSE:000685 BSP:SAPR3 XSGO:AGUAS-A

Address Block A, Jumeirah Beach Road, 2nd December Street, PO Box 8081, Al Hudaiba Awards Building, 8th Floor, Opposite Etihad Museum, Dubai, ARE

Website https://www.empower.ae

Emirates Central Cooling Systems Corp PJSC offers district cooling services, and management, operation, and maintenance of central cooling plants and related distribution networks. The group has two operating and reportable segments: Chilled water and Pre-insulated pipe business. The majority of its revenue is generated from the Chilled water segment, which constructs, owns, assembles, installs, operates, and maintains cooling and conditioning systems. In addition, it distributes and sells chilled water for use in district cooling technologies. The Pre-insulated pipe business is involved in manufacturing, assembling, and selling activities relating to the expansion of the group's chilled water business. Geographically, the group generates all of its revenue from the United Arab Emirates.

80GF Score

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

د.إ1.61

Price

د.إ1.87

GF Value

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