Shanghai Henlius Biotech (FRA:2E8) Operating Income: €112.2 Mil (TTM As of Dec. 2025)

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FRA:2E8 Shanghai Henlius Biotech Inc FRA:2E8
50 GF Score
Price €7.30
GF Value €3.38
Valuation Significantly Overvalued
! 4 Warning Signs
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What is Shanghai Henlius Biotech Operating Income?

Shanghai Henlius Biotech FRA:2E8 -2.67% 50 Operating Income is €112.2 Mil as of Dec. 2025. GuruFocus rates FRA:2E8 with a GF Score™ of 50/100 and a GF Value™ of €3.38 (Significantly Overvalued). The stock has 4 warning signs investors should review.

Shanghai Henlius Biotech's Operating Income for the six months ended in Dec. 2025 was €57.8 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €112.2 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Shanghai Henlius Biotech's Operating Income for the six months ended in Dec. 2025 was €57.8 Mil. Shanghai Henlius Biotech's Revenue for the six months ended in Dec. 2025 was €466.5 Mil. Therefore, Shanghai Henlius Biotech's Operating Margin % for the quarter that ended in Dec. 2025 was 12.38%.

Shanghai Henlius Biotech's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Shanghai Henlius Biotech's annualized ROC % for the quarter that ended in Dec. 2025 was 8.19%. Shanghai Henlius Biotech's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 34.61%.


Shanghai Henlius Biotech  (FRA:2E8) Operating Income Explanation

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

Shanghai Henlius Biotech'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: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=115.538 * ( 1 - 0% )/( (1364.792 + 1456.8)/ 2 )
=115.538/1410.796
=8.19 %

where

Invested Capital(Q: Jun. 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))
=1394.61 - 211.263 - ( 107.362 - max(0, 570.5 - 389.055+107.362))
=1364.792

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))
=1498.804 - 218.403 - ( 93.632 - max(0, 599.086 - 422.687+93.632))
=1456.8

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

Shanghai Henlius Biotech'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: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=113.042/( ( (317.844 + max(22.072, 0)) + (313.005 + max(0.26499999999996, 0)) )/ 2 )
=113.042/( ( 339.916 + 313.27 )/ 2 )
=113.042/326.593
=34.61 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(143.024 + 101.199 + 36.72) - (211.263 + 0 + 47.608)
=22.072

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(220.176 + 74.256 + 32.512) - (218.403 + 0 + 108.276)
=0.26499999999996

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

Shanghai Henlius Biotech'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 )
=57.769/466.466
=12.38 %

* 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.


Shanghai Henlius Biotech Operating Income Related Terms


Shanghai Henlius Biotech Operating Income Historical Data

* Premium members only.

The historical data trend for Shanghai Henlius Biotech'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.

Shanghai Henlius Biotech Operating Income Chart

Shanghai Henlius Biotech Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only -86.59 -48.57 92.70 123.18 112.47

Shanghai Henlius Biotech Semi-Annual Data
Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 54.32 58.75 63.01 54.47 57.77
FRA:2E8
50GF Score
Shanghai Henlius Biotech Inc FRA:2E8
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Shanghai Henlius Biotech 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 semi-annually data reported by the company within the most recent 12 months, which was €112.2 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 €112.2 Mil mean?
Shanghai Henlius Biotech (FRA:2E8) has a Operating Income of €112.2 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Shanghai Henlius Biotech and its competitors.
Is Shanghai Henlius Biotech's Operating Income too high?
Shanghai Henlius Biotech's current Operating Income is €112.2 Mil. Overall, Shanghai Henlius Biotech has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Shanghai Henlius Biotech's Operating Income compare to VRTX and REGN?
Shanghai Henlius Biotech's Operating Income of €112.2 Mil can be compared against companies in the Biotechnology 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 Biotechnology company?
A good Operating Income depends on the Biotechnology 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 Shanghai Henlius Biotech and its competitors. Shanghai Henlius Biotech's current Operating Income is €112.2 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shanghai Henlius Biotech stock overvalued right now?
Based on GuruFocus' analysis, Shanghai Henlius Biotech (FRA:2E8) is currently considered Significantly Overvalued. The stock's GF Value™ is €3.38, compared to a current price of €7.30 — trading 116% above its estimated fair value. The current Operating Income is €112.2 Mil. Shanghai Henlius Biotech's overall GF Score™ is 50/100 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 Shanghai Henlius Biotech (FRA:2E8), the current Operating Income is €112.2 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 Shanghai Henlius Biotech (FRA:2E8) Overvalued in 2026?

Based on GuruFocus' analysis, Shanghai Henlius Biotech stock appears to be overvalued. The current stock price of €7.30 is trading 116% above its estimated GF Value™ of €3.38. GuruFocus considers Shanghai Henlius Biotech to be Significantly Overvalued.

Key valuation signals for FRA:2E8:

  • Operating Income: €112.2 Mil
  • GF Value™: €3.38 vs. price of €7.30 (116% above fair value)
  • GF Score™: 50/100 with 4 warning signs

No single metric tells the full story. See the FRA:2E8 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Shanghai Henlius Biotech Business Description

Other Exchanges 02696:Hong Kong
Address B8 Building, No. 188 Yizhou Road, 11th Floor, Xuhui District, Shanghai, CHN, 200233
Shanghai Henlius Biotech Inc is a biopharmaceutical company in China with the vision to offer affordable and biologics for patients with a focus on oncology and autoimmune diseases. The Group is engaged in biopharmaceutical R&D, biopharmaceutical services, and biopharmaceutical production and sales. It operates in Mainland China, Asia Pacific (excluding Mainland China), North America, South America, Oceania, and Europe. The company products include HLX01 Rituximab, HLX02(trastuzumab), and others.
50GF Score

Get the complete analysis for FRA:2E8

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

€7.30
Price
€3.38
GF Value