The Campbell's Co (FRA:CSC) Operating Income: €1,002 Mil (TTM As of Apr. 2026)


FRA:CSC The Campbell's Co FRA:CSC
58 GF Score
Price €19.75
GF Value €34.54
Valuation Possible Value Trap
! 7 Warning Signs
View Full Analysis

What is The Campbell's Co Operating Income?

The Campbell's Co FRA:CSC -5.13% 58 Operating Income is €1,002 Mil as of Apr. 2026. GuruFocus rates FRA:CSC with a GF Score™ of 58/100 and a GF Value™ of €34.54 (Possible Value Trap). The stock has 7 warning signs investors should review.

The Campbell's Co's Operating Income for the three months ended in Apr. 2026 was €219 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Apr. 2026 was €1,002 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. The Campbell's Co's Operating Income for the three months ended in Apr. 2026 was €219 Mil. The Campbell's Co's Revenue for the three months ended in Apr. 2026 was €2,023 Mil. Therefore, The Campbell's Co's Operating Margin % for the quarter that ended in Apr. 2026 was 10.82%.

Warning Sign:

The Campbell's Co operating margin has been in a 5-year decline. The average rate of decline per year is -3%.

The Campbell's Co's 5-Year average Growth Rate for Operating Margin % was -3.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. The Campbell's Co's annualized ROC % for the quarter that ended in Apr. 2026 was 6.04%. The Campbell's Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 36.97%.


The Campbell's Co  (FRA:CSC) Operating Income Explanation

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

The Campbell's Co's annualized ROC % for the quarter that ended in Apr. 2026 is calculated as:

ROC % (Q: Apr. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jan. 2026 ) + Invested Capital (Q: Apr. 2026 ))/ count )
=875.52 * ( 1 - 22.01% )/( (11102.146 + 11497.185)/ 2 )
=682.818048/11299.6655
=6.04 %

where

Invested Capital(Q: Jan. 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))
=13061.148 - 1924.962 - ( 477.411 - max(0, 2289.19 - 2323.23+477.411))
=11102.146

Invested Capital(Q: Apr. 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))
=12946.41 - 1786.95 - ( 343.71 - max(0, 2525.67 - 2187.945+343.71))
=11497.185

Note: The Operating Income data used here is four times the quarterly (Apr. 2026) data.

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

The Campbell's Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Apr. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jan. 2026  Q: Apr. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=875.52/( ( (2341.101 + max(-79.143, 0)) + (2338.425 + max(57.285, 0)) )/ 2 )
=875.52/( ( 2341.101 + 2395.71 )/ 2 )
=875.52/2368.4055
=36.97 %

where Working Capital is:

Working Capital(Q: Jan. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(571.021 + 1157.36 + 117.438) - (1924.962 + 0 + 0)
=-79.143

Working Capital(Q: Apr. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(471.96 + 1240.605 + 131.67) - (1786.95 + 0 + 0)
=57.285

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Apr. 2026) EBIT data.

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

The Campbell's Co's Operating Margin % for the quarter that ended in Apr. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Apr. 2026 )/Revenue (Q: Apr. 2026 )
=218.88/2022.93
=10.82 %

* 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.


The Campbell's Co Operating Income Related Terms


The Campbell's Co Operating Income Historical Data

* Premium members only.

The historical data trend for The Campbell's Co'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.

The Campbell's Co Operating Income Chart

The Campbell's Co Annual Data
Trend Jul16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,074.42 1,128.48 1,186.05 1,130.37 1,159.52

The Campbell's Co Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 274.12 252.82 289.48 240.83 218.88
FRA:CSC
58GF Score
The Campbell's Co FRA:CSC
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

The Campbell's Co 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 Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,002 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 €1,002 Mil mean?
The Campbell's Co (FRA:CSC) has a Operating Income of €1,002 Mil as of Apr. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on The Campbell's Co and its competitors.
Is The Campbell's Co's Operating Income too high?
The Campbell's Co's current Operating Income is €1,002 Mil. Overall, The Campbell's Co has a GF Score™ of 58/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does The Campbell's Co's Operating Income compare to PPC and CAG?
The Campbell's Co's Operating Income of €1,002 Mil can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Operating Income depends on the Consumer Packaged Goods 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 The Campbell's Co and its competitors. The Campbell's Co's current Operating Income is €1,002 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Campbell's Co stock overvalued right now?
Based on GuruFocus' analysis, The Campbell's Co (FRA:CSC) is currently considered Possible Value Trap. The stock's GF Value™ is €34.54, compared to a current price of €19.75 — trading 42.8% below its estimated fair value. The current Operating Income is €1,002 Mil. The Campbell's Co's overall GF Score™ is 58/100 with 7 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 The Campbell's Co (FRA:CSC), the current Operating Income is €1,002 Mil as of Apr. 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 The Campbell's Co (FRA:CSC) Overvalued in 2026?

Based on GuruFocus' analysis, The Campbell's Co stock appears to be undervalued. The current stock price of €19.75 is trading 42.8% below its estimated GF Value™ of €34.54. GuruFocus considers The Campbell's Co to be Possible Value Trap.

Key valuation signals for FRA:CSC:

  • Operating Income: €1,002 Mil
  • GF Value™: €34.54 vs. price of €19.75 (42.8% below fair value)
  • GF Score™: 58/100 with 7 warning signs

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


The Campbell's Co Business Description

Address 1 Campbell Place, Camden, NJ, USA, 08103-1799
Over the past 150-plus years, Campbell's has evolved into a leading domestic packaged food manufacturer, with a portfolio that extends beyond its iconic red-and-white labeled canned soup. In fiscal 2025 (July year-end), snacks accounted for 43% of its revenue, followed by soup (27%), other simple meals (23%), and beverages (7%). Beyond its namesake, its brands include Pepperidge Farm, Goldfish, Snyder's of Hanover, Swanson, Pacific Foods, Prego, Pace, V8, and, most recently, Rao's (a deal that closed in 2024). Around 90% of its revenue results from the US and the remainder from Canada and Latin America.
58GF Score

Get the complete analysis for FRA:CSC

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

€19.75
Price
€34.54
GF Value