Clariant AG (FRA:CLRN) Operating Income: €333 Mil (TTM As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:CLRN Clariant AG FRA:CLRN
65 GF Score
Price €8.34
GF Value €10.56
Valuation Modestly Undervalued
! 5 Warning Signs
View Full Analysis

What is Clariant AG Operating Income?

Clariant AG FRA:CLRN +2.33% 65 Operating Income is €333 Mil as of Dec. 2025. GuruFocus rates FRA:CLRN with a GF Score™ of 65/100 and a GF Value™ of €10.56 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Clariant AG's Operating Income for the six months ended in Dec. 2025 was €208 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €333 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Clariant AG's Operating Income for the six months ended in Dec. 2025 was €208 Mil. Clariant AG's Revenue for the six months ended in Dec. 2025 was €2,073 Mil. Therefore, Clariant AG's Operating Margin % for the quarter that ended in Dec. 2025 was 10.03%.

Good Sign:

Clariant AG operating margin is expanding. Margin expansion is usually a good sign.

Clariant AG's 5-Year average Growth Rate for Operating Margin % was 8.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Clariant AG's annualized ROC % for the quarter that ended in Dec. 2025 was 8.72%. Clariant AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -2.24%.


Clariant AG  (FRA:CLRN) Operating Income Explanation

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

Clariant AG'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 )
=415.802 * ( 1 - 0% )/( (4846.756 + 4692.767)/ 2 )
=415.802/4769.7615
=8.72 %

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))
=6199.711 - 874.25 - ( 478.705 - max(0, 1651.479 - 2253.859+478.705))
=4846.756

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))
=6291.673 - 861.609 - ( 737.297 - max(0, 1459.591 - 2389.785+737.297))
=4692.767

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:

Clariant AG'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 )
=-49.296/( ( (1664.273 + max(708.996, 0)) + (1639.629 + max(384.723, 0)) )/ 2 )
=-49.296/( ( 2373.269 + 2024.352 )/ 2 )
=-49.296/2198.8105
=-2.24 %

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)
=(618.372 + 768.7 + 388.082) - (874.25 + 0 + 191.908)
=708.996

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(657.995 + 686.929 + 103.95) - (861.609 + 0 + 202.542)
=384.723

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 %:

Clariant AG'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 )
=207.901/2072.576
=10.03 %

* 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.


Clariant AG Operating Income Related Terms


Clariant AG Operating Income Historical Data

* Premium members only.

The historical data trend for Clariant AG'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.

Clariant AG Operating Income Chart

Clariant AG 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 383.40 31.41 254.49 412.38 333.28

Clariant AG Semi-Annual Data
Jun16 Dec16 Jun17 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 Premium Member Only Premium Member Only Premium Member Only 42.41 212.03 193.87 124.74 207.90
FRA:CLRN
65GF Score
Clariant AG FRA:CLRN
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Clariant AG 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 €333 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 €333 Mil mean?
Clariant AG (FRA:CLRN) has a Operating Income of €333 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Clariant AG and its competitors.
Is Clariant AG's Operating Income too high?
Clariant AG's current Operating Income is €333 Mil. Overall, Clariant AG has a GF Score™ of 65/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Clariant AG's Operating Income compare to LIN and SHW?
Clariant AG's Operating Income of €333 Mil can be compared against companies in the Chemicals 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 Chemicals company?
A good Operating Income depends on the Chemicals 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 Clariant AG and its competitors. Clariant AG's current Operating Income is €333 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Clariant AG stock overvalued right now?
Based on GuruFocus' analysis, Clariant AG (FRA:CLRN) is currently considered Modestly Undervalued. The stock's GF Value™ is €10.56, compared to a current price of €8.34 — trading 21% below its estimated fair value. The current Operating Income is €333 Mil. Clariant AG's overall GF Score™ is 65/100 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 Clariant AG (FRA:CLRN), the current Operating Income is €333 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 Clariant AG (FRA:CLRN) Overvalued in 2026?

Based on GuruFocus' analysis, Clariant AG stock appears to be undervalued. The current stock price of €8.34 is trading 21% below its estimated GF Value™ of €10.56. GuruFocus considers Clariant AG to be Modestly Undervalued.

Key valuation signals for FRA:CLRN:

  • Operating Income: €333 Mil
  • GF Value™: €10.56 vs. price of €8.34 (21% below fair value)
  • GF Score™: 65/100 with 5 warning signs

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


Clariant AG Business Description

Address Rothausstrasse 61, Muttenz, CHE, 4132
Clariant AG is a Switzerland-based specialty chemicals company with world-wide operations. It develops, manufactures, distributes, and sells a broad range of specialty chemicals, which play a key role in its customers' manufacturing and treatment processes or add value to their end products. The company reports in three business areas: care chemicals, absorbents and additives and catalysts. Care chemicals mainly targets consumer end markets such as personal care and homecare, but it also has an industrial component. Absorbents and additives encompass Clariant's coatings and adhesives, absorbents, and plastics segments. Catalysts manufacturers process catalysts, mainly for petrochemical and syngas plants.
65GF Score

Get the complete analysis for FRA:CLRN

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

€8.34
Price
€10.56
GF Value