Industrial & Infrastructure Fund Investment (FRA:2ES) Operating Income: €130.1 Mil (TTM As of Jan. 2026)

Industrial & Infrastructure Fund Investment  (FRA:2ES) Operating Income Explanation

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

Industrial & Infrastructure Fund Investment's annualized ROC % for the quarter that ended in Jan. 2026 is calculated as:

where

Note: The Operating Income data used here is two times the semi-annual (Jan. 2026) data.

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

Industrial & Infrastructure Fund Investment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2026 is calculated as:

where Working Capital is:

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jan. 2026) EBIT data.

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

Industrial & Infrastructure Fund Investment's Operating Margin % for the quarter that ended in Jan. 2026 is calculated as:

* 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.

Industrial & Infrastructure Fund Investment Operating Income Related Terms

The historical data trend for Industrial & Infrastructure Fund Investment'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.

Industrial & Infrastructure Fund Investment Operating Income Chart

Industrial & Infrastructure Fund Investment Annual Data
	Trend	Dec16	Jul17	Jul18	Jul19	Jul20	Jul21	Jul22	Jul23	Jul24	Jul25
Operating Income		Get a 7-Day Free Trial					117.11	102.48	98.10	106.33	121.60

Industrial & Infrastructure Fund Investment Semi-Annual Data
	Jun16	Dec16	Jul17	Jan18	Jul18	Jan19	Jul19	Jan20	Jul20	Jan21	Jul21	Jan22	Jul22	Jan23	Jul23	Jan24	Jul24	Jan25	Jul25	Jan26
Operating Income	Get a 7-Day Free Trial															51.36	58.42	62.89	62.29	67.84

Industrial & Infrastructure Fund Investment 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 Jan. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was €130.1 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.

Industrial & Infrastructure Fund Investment Business Description