Anima Holding SpA (FRA:124) Operating Income: €356 Mil (TTM As of Dec. 2025)

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FRA:124 Anima Holding SpA FRA:124
78 GF Score
Price €6.91
GF Value €6.39
Valuation Fairly Valued
! 4 Warning Signs
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What is Anima Holding SpA Operating Income?

Anima Holding SpA FRA:124 -0.14% 78 Operating Income is €356 Mil as of Dec. 2025. GuruFocus rates FRA:124 with a GF Score™ of 78/100 and a GF Value™ of €6.39 (Fairly Valued). The stock has 4 warning signs investors should review.

Anima Holding SpA's Operating Income for the three months ended in Dec. 2025 was €140 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €356 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Anima Holding SpA's Operating Income for the three months ended in Dec. 2025 was €140 Mil. Anima Holding SpA's Revenue for the three months ended in Dec. 2025 was €341 Mil. Therefore, Anima Holding SpA's Operating Margin % for the quarter that ended in Dec. 2025 was 40.96%.

Warning Sign:

Anima Holding SpA operating margin has been in a 5-year decline. The average rate of decline per year is -1.7%.

Anima Holding SpA's 5-Year average Growth Rate for Operating Margin % was -1.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Anima Holding SpA's annualized ROC % for the quarter that ended in Dec. 2025 was 21.36%. Anima Holding SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 1,721.04%.


Anima Holding SpA  (FRA:124) Operating Income Explanation

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

Anima Holding SpA's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=558.1 * ( 1 - 32.29% )/( (1823.336 + 1715.451)/ 2 )
=377.88951/1769.3935
=21.36 %

where

Invested Capital(Q: Sep. 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))
=2800.064 - 41.835 - ( 934.893 - max(0, 41.835 - 984.624+934.893))
=1823.336

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))
=2945.973 - 342.751 - ( 1029.048 - max(0, 365.01 - 1252.781+1029.048))
=1715.451

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

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

Anima Holding SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=409.116/( ( (25.379 + max(-15.579, 0)) + (22.164 + max(-149.393, 0)) )/ 2 )
=409.116/( ( 25.379 + 22.164 )/ 2 )
=409.116/23.7715
=1,721.04 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 26.256) - (41.835 + 0 + 0)
=-15.579

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(168.044 + 0 + 25.543) - (342.751 + 0 + 0.22900000000004)
=-149.393

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

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

Anima Holding SpA's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=139.525/340.659
=40.96 %

* 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.


Anima Holding SpA Operating Income Related Terms


Anima Holding SpA Operating Income Historical Data

* Premium members only.

The historical data trend for Anima Holding SpA'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.

Anima Holding SpA Operating Income Chart

Anima Holding SpA 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 372.44 243.37 253.26 343.87 378.00

Anima Holding SpA 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 121.18 48.46 68.84 139.53 99.56
FRA:124
78GF Score
Anima Holding SpA FRA:124
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Anima Holding SpA 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 Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was €356 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 €356 Mil mean?
Anima Holding SpA (FRA:124) has a Operating Income of €356 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Anima Holding SpA and its competitors.
Is Anima Holding SpA's Operating Income too high?
Anima Holding SpA's current Operating Income is €356 Mil. Overall, Anima Holding SpA has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Anima Holding SpA's Operating Income compare to BLK and BX?
Anima Holding SpA's Operating Income of €356 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 Anima Holding SpA and its competitors. Anima Holding SpA's current Operating Income is €356 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Anima Holding SpA stock overvalued right now?
Based on GuruFocus' analysis, Anima Holding SpA (FRA:124) is currently considered Fairly Valued. The stock's GF Value™ is €6.39, compared to a current price of €6.91 — trading 8.1% above its estimated fair value. The current Operating Income is €356 Mil. Anima Holding SpA's overall GF Score™ is 78/100 with 4 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 Anima Holding SpA (FRA:124), the current Operating Income is €356 Mil as of Dec. 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 Anima Holding SpA (FRA:124) Overvalued in 2026?

Based on GuruFocus' analysis, Anima Holding SpA stock appears to be overvalued. The current stock price of €6.91 is trading 8.1% above its estimated GF Value™ of €6.39. GuruFocus considers Anima Holding SpA to be Fairly Valued.

Key valuation signals for FRA:124:

  • Operating Income: €356 Mil
  • GF Value™: €6.39 vs. price of €6.91 (8.1% above fair value)
  • GF Score™: 78/100 with 4 warning signs

No single metric tells the full story. See the FRA:124 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Anima Holding SpA Business Description

Address Corso Giuseppe Garibaldi, 99, Milan, ITA, 20121
Anima Holding SpA is one of the Italian independent asset management operators. Anima's offering is composed of Italian mutual funds, open-ended umbrella funds domiciled in Ireland and Luxembourg, and pension funds. The company also offers institutional and private pension funds, as well as private wealth and institutional asset management services.
78GF Score

Get the complete analysis for FRA:124

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

€6.91
Price
€6.39
GF Value