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CEZ AS's Operating Income for the
three
months ended in Mar. 2026 was €895 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €3,046 Mil.
Warning Sign:
CEZ AS has recorded a loss in operating income at least once over the past 3 years.
Operating Margin % is calculated as Operating Income divided by its Revenue. CEZ AS's Operating Income for the
three
months ended in Mar. 2026 was €895 Mil. CEZ AS's Revenue for the
three
months ended in Mar. 2026 was €3,449 Mil. Therefore, CEZ AS's Operating Margin % for the quarter that ended in Mar. 2026 was 25.96%.
Good Sign:
CEZ AS operating margin is expanding. Margin expansion is usually a good sign.
Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
CEZ AS's annualizedROC % for the quarter that ended in Mar. 2026 was 8.43%.
CEZ AS's annualizedROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 15.15%.
CEZ AS (FRA:CEZ) Operating Income Explanation
1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
CEZ AS's annualizedROC % for the quarter that ended in Mar. 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.
CEZ AS Operating Income Related Terms
CEZ AS Operating Income Historical Data
* Premium members only.
The historical data trend for CEZ AS'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.
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 €3,046 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.
CEZ AS (FRA:CEZ) has a Operating Income of €3,046 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on CEZ AS and its competitors.
Is CEZ AS's Operating Income too high?
CEZ AS's current Operating Income is €3,046 Mil. Overall, CEZ AS has a GF Score™ of 98/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CEZ AS's Operating Income compare to NEE and SO?
CEZ AS's Operating Income of €3,046 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 CEZ AS and its competitors. CEZ AS's current Operating Income is €3,046 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CEZ AS stock overvalued right now?
Based on GuruFocus' analysis, CEZ AS (FRA:CEZ) is currently considered Modestly Overvalued. The stock's GF Value™ is €46.09, compared to a current price of €53.75 — trading 16.6% above its estimated fair value. The current Operating Income is €3,046 Mil. CEZ AS's overall GF Score™ is 98/100 with 9 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 CEZ AS (FRA:CEZ), the current Operating Income is €3,046 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 CEZ AS (FRA:CEZ) Overvalued in 2026?
Based on GuruFocus' analysis, CEZ AS stock appears to be overvalued.
The current stock price of €53.75 is trading 16.6% above its estimated GF Value™ of €46.09.
GuruFocus considers CEZ AS to be Modestly Overvalued.
Key valuation signals for FRA:CEZ:
Operating Income: €3,046 Mil
GF Value™: €46.09 vs. price of €53.75 (16.6% above fair value)
No single metric tells the full story. See the FRA:CEZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CEZ AS is a Czech energy company of which the government of the Czech Republic is the majority shareholder. The core business of the company is the generation, distribution, trade, and sale of electricity and heat, coal mining, trading in commodities and provision of complex energy services, distribution, trade, and sale of natural gas, and the provision of telecommunications services. Total energy production is mainly split between facilities utilizing thermal and nuclear inputs. CEZ segments comprise Generation; Distribution; Sales and Mining. The group operates mainly in Czechia and in Central and Western European markets.
98GF Score
Get the complete analysis for FRA:CEZ
Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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