Vianet Group (FRA:AS2) Operating Income: €1.49 Mil (TTM As of Mar. 2026)


FRA:AS2 Vianet Group PLC FRA:AS2
51 GF Score
Price €0.69
GF Value €0.93
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Vianet Group Operating Income?

Vianet Group FRA:AS2 51 Operating Income is €1.49 Mil as of Mar. 2026. GuruFocus rates FRA:AS2 with a GF Score™ of 51/100 and a GF Value™ of €0.93 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Vianet Group's Operating Income for the six months ended in Mar. 2026 was €1.08 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €1.49 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Vianet Group's Operating Income for the six months ended in Mar. 2026 was €1.08 Mil. Vianet Group's Revenue for the six months ended in Mar. 2026 was €8.91 Mil. Therefore, Vianet Group's Operating Margin % for the quarter that ended in Mar. 2026 was 12.15%.

Vianet Group'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. Vianet Group's annualized ROC % for the quarter that ended in Mar. 2026 was 2.69%. Vianet Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 26.84%.

Vianet Group  (FRA:AS2) Operating Income Explanation

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

Vianet Group'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: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=2.166 * ( 1 - 58.97% )/( (32.891 + 33.144)/ 2 )
=0.8887098/33.0175
=2.69 %

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))
=38.837 - 2.988 - ( 2.958 - max(0, 3.316 - 8.642+2.958))
=32.891

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))
=38.852 - 1.792 - ( 3.916 - max(0, 3.121 - 9.16+3.916))
=33.144

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

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

Vianet Group'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: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1.65/( ( (3.915 + max(2.696, 0)) + (3.743 + max(1.943, 0)) )/ 2 )
=1.65/( ( 6.611 + 5.686 )/ 2 )
=1.65/6.1485
=26.84 %

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)
=(4.156 + 1.528 + 0) - (2.988 + 0 + 0)
=2.696

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2.953 + 1.467 + 0.323) - (1.792 + 0 + 1.008)
=1.943

When net working capital is negative, 0 is used.

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

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

Vianet Group'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 )
=1.083/8.911
=12.15 %

* 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.

Vianet Group Operating Income Related Terms

Vianet Group Operating Income Historical Data

* Premium members only.

The historical data trend for Vianet Group'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.

Vianet Group Operating Income Chart

Vianet Group Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.10 0.88 1.41 1.46 1.49

Vianet Group Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 1.13 0.20 1.26 0.40 1.08
FRA:AS2
51GF Score
Vianet Group PLC FRA:AS2
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Vianet Group 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 semi-annually data reported by the company within the most recent 12 months, which was €1.49 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 €1.49 Mil mean?
Vianet Group (FRA:AS2) has a Operating Income of €1.49 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Vianet Group and its competitors.
Is Vianet Group's Operating Income too high?
Vianet Group's current Operating Income is €1.49 Mil. Overall, Vianet Group has a GF Score™ of 51/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vianet Group's Operating Income compare to CTAS and CPRT?
Vianet Group's Operating Income of €1.49 Mil can be compared against companies in the Business Services 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 Business Services company?
A good Operating Income depends on the Business Services 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 Vianet Group and its competitors. Vianet Group's current Operating Income is €1.49 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vianet Group stock overvalued right now?
Based on GuruFocus' analysis, Vianet Group (FRA:AS2) is currently considered Modestly Undervalued. The stock's GF Value™ is €0.93, compared to a current price of €0.69 — trading 25.8% below its estimated fair value. The current Operating Income is €1.49 Mil. Vianet Group's overall GF Score™ is 51/100 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 Vianet Group (FRA:AS2), the current Operating Income is €1.49 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 Vianet Group (FRA:AS2) Overvalued in 2026?

Based on GuruFocus' analysis, Vianet Group stock appears to be undervalued. The current stock price of €0.69 is trading 25.8% below its estimated GF Value™ of €0.93. GuruFocus considers Vianet Group to be Modestly Undervalued.

Key valuation signals for FRA:AS2:

  • Operating Income: €1.49 Mil
  • GF Value™: €0.93 vs. price of €0.69 (25.8% below fair value)
  • GF Score™: 51/100 with 5 warning signs

No single metric tells the full story. See the FRA:AS2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Vianet Group Business Description

Other Exchanges VNET:UK
Address One Surtees Way, Surtees Business Park, Stockton on Tees, GBR, TS18 3HR
Vianet Group PLC is a provider of actionable management information and business insight created by combining data from the smart Internet of Things solutions and external information sources. Smart Zones include Data insight and actionable data services as well as design, product development, sale, and rental of fluid monitoring equipment. The business of the group is divided into two divisions: Smart Machines, Smart Zones and Corporate/Technology. The company generates maximum revenue from the Smart Zones segment. Geographically, the company derives maximum of the revenue from the United Kingdom and has a presence in the Rest of Europe and the United States/Canada.
51GF Score

Get the complete analysis for FRA:AS2

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

€0.69
Price
€0.93
GF Value