Societatea Energetica Electrica (FRA:ECEB) Operating Income: €248 Mil (TTM As of Mar. 2026)

What is Societatea Energetica Electrica Operating Income?

Societatea Energetica Electrica FRA:ECEB +0.55% 40 Operating Income is €248 Mil as of Mar. 2026. GuruFocus rates FRA:ECEB with a GF Score™ of 40/100 and a GF Value™ of €3.33 (Significantly Overvalued). The stock has 9 warning signs investors should review.

Societatea Energetica Electrica's Operating Income for the three months ended in Mar. 2026 was €79 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €248 Mil.

Warning Sign:

Societatea Energetica Electrica SA 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. Societatea Energetica Electrica's Operating Income for the three months ended in Mar. 2026 was €79 Mil. Societatea Energetica Electrica's Revenue for the three months ended in Mar. 2026 was €585 Mil. Therefore, Societatea Energetica Electrica's Operating Margin % for the quarter that ended in Mar. 2026 was 13.57%.

Societatea Energetica Electrica'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. Societatea Energetica Electrica's annualized ROC % for the quarter that ended in Mar. 2026 was 10.51%. Societatea Energetica Electrica's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 185.72%.

Societatea Energetica Electrica (FRA:ECEB) Operating Income Explanation

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

Societatea Energetica Electrica'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: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	317.596 * ( 1 - 16.68% )	/	( (2587.798	+	2449.023)	/ 2 )
=	264.6209872	/	2518.4105
=	10.51 %

where

	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	))
=	3593.225	-	451.964	-	( 553.463	-	max(0, 1090.875	-	1708.56	+	553.463	))
=	2587.798

	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	))
=	3459.901	-	404.479	-	( 606.399	-	max(0, 1014.77	-	1710.536	+	606.399	))
=	2449.023

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

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

Societatea Energetica Electrica'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: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	360.376	/	( ( (151.236 + max(85.782, 0))	+	(151.062 + max(-137.561, 0)) )	/	2 )
=	360.376	/	( ( 237.018	+	151.062 )	/	2 )
=	360.376	/	194.04
=	185.72 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(616.481	+	17.343	+	8.8259999999998)	-	(451.964	+	0	+	104.904)
=	85.782

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(339.318	+	14.861	+	23.576)	-	(404.479	+	0	+	110.837)
=	-137.561

When net working capital is negative, 0 is used.

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

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

Societatea Energetica Electrica'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 )
	=	79.399	/	585.299
	=	13.57 %

* 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.

Societatea Energetica Electrica Operating Income Related Terms

Societatea Energetica Electrica Operating Income Historical Data

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The historical data trend for Societatea Energetica Electrica's Operating Income can be seen below:

Societatea Energetica Electrica Operating Income Chart

Societatea Energetica Electrica Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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-132.86

-19.14

215.87

162.38

323.19

Societatea Energetica Electrica Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Operating Income	Get a 7-Day Free Trial															58.26	-13.27	121.19	60.45	79.40

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Societatea Energetica Electrica SA FRA:ECEB

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Societatea Energetica Electrica 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 quarterly data reported by the company within the most recent 12 months, which was €248 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of €248 Mil mean?

Societatea Energetica Electrica (FRA:ECEB) has a Operating Income of €248 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Societatea Energetica Electrica and its competitors.

Is Societatea Energetica Electrica's Operating Income too high?

Societatea Energetica Electrica's current Operating Income is €248 Mil. Overall, Societatea Energetica Electrica has a GF Score™ of 40/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Societatea Energetica Electrica's Operating Income compare to NEE and SO?

Societatea Energetica Electrica's Operating Income of €248 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 Societatea Energetica Electrica and its competitors. Societatea Energetica Electrica's current Operating Income is €248 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Societatea Energetica Electrica stock overvalued right now?

Based on GuruFocus' analysis, Societatea Energetica Electrica (FRA:ECEB) is currently considered Significantly Overvalued. The stock's GF Value™ is €3.33, compared to a current price of €7.34 — trading 120.4% above its estimated fair value. The current Operating Income is €248 Mil. Societatea Energetica Electrica's overall GF Score™ is 40/100 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 Societatea Energetica Electrica (FRA:ECEB), the current Operating Income is €248 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 Societatea Energetica Electrica (FRA:ECEB) Overvalued in 2026?

Based on GuruFocus' analysis, Societatea Energetica Electrica stock appears to be overvalued. The current stock price of €7.34 is trading 120.4% above its estimated GF Value™ of €3.33. GuruFocus considers Societatea Energetica Electrica to be Significantly Overvalued.

Key valuation signals for FRA:ECEB:

Operating Income: €248 Mil
GF Value™: €3.33 vs. price of €7.34 (120.4% above fair value)
GF Score™: 40/100 with 9 warning signs

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

Societatea Energetica Electrica Business Description

Industry Utilities Utilities - Regulated

Comparable Companies BSE:TEL BSE:SNN NEE SO DUK LSE:NG.AEP D ETR XEL EXC XMAD:ELE BOM:532555 PEG ED WEC PCG XPRA:CEZ AEE DTE

Other Exchanges EL:Romania 0QVZ:UK

Address No. 9, Grigore Alexandrescu Street, 1st District, Bucharest, ROU, 010621

Website https://www.electrica.ro

Societatea Energetica Electrica SA is a Romanian company, which is engaged in operation and development of electricity distribution networks and activities related to electricity supply to final consumers. It mainly acts as an electricity distribution operator and the main electricity supplier in North Transylvania, South Transylvania, and North Muntenia. The company operates through following segments: Electricity & gas supply, which is engaged in purchasing and supplying electricity and gas to end consumers; Electricity distribution, which provides electricity distribution services; External electricity network services, which offers repairs, maintenance and other services for electricity networks owned by other distributors; Electricity generation segment; and Headquarters.

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€7.34

Price

€3.33

GF Value

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