Winking Studios (FRA:G4D) Operating Income: €0.61 Mil (TTM As of Dec. 2025)

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FRA:G4D Winking Studios Ltd FRA:G4D
44 GF Score
Price €0.12
! 5 Warning Signs
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What is Winking Studios Operating Income?

Winking Studios FRA:G4D 44 Operating Income is €0.61 Mil as of Dec. 2025. GuruFocus rates FRA:G4D with a GF Score™ of 44/100. The stock has 5 warning signs investors should review.

Winking Studios's Operating Income for the six months ended in Dec. 2025 was €0.06 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €0.61 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Winking Studios's Operating Income for the six months ended in Dec. 2025 was €0.06 Mil. Winking Studios's Revenue for the six months ended in Dec. 2025 was €22.30 Mil. Therefore, Winking Studios's Operating Margin % for the quarter that ended in Dec. 2025 was 0.28%.

Winking Studios'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. Winking Studios's annualized ROC % for the quarter that ended in Dec. 2025 was 0.40%. Winking Studios's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -8.21%.

Winking Studios  (FRA:G4D) Operating Income Explanation

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

Winking Studios'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 )
=0.126 * ( 1 - 0% )/( (30.737 + 32.92)/ 2 )
=0.126/31.8285
=0.40 %

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))
=57.192 - 4.244 - ( 22.211 - max(0, 5.894 - 34.512+22.211))
=30.737

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))
=58.841 - 2.531 - ( 23.39 - max(0, 8.62 - 36.644+23.39))
=32.92

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:

Winking Studios'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 )
=-0.5/( ( (4.767 + max(2.566, 0)) + (4.207 + max(0.64399999999999, 0)) )/ 2 )
=-0.5/( ( 7.333 + 4.851 )/ 2 )
=-0.5/6.092
=-8.21 %

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)
=(6.956 + 0 + 0) - (4.244 + 0 + 0.146)
=2.566

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(6.762 + 0 + 1.012) - (2.531 + 0 + 4.599)
=0.64399999999999

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 %:

Winking Studios'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 )
=0.063/22.302
=0.28 %

* 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.

Winking Studios Operating Income Related Terms

Winking Studios Operating Income Historical Data

* Premium members only.

The historical data trend for Winking Studios'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.

Winking Studios Operating Income Chart

Winking Studios Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 2.97 0.92 1.41 -1.44 0.61

Winking Studios Semi-Annual Data
Dec20 Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Income Get a 7-Day Free Trial Premium Member Only 0.13 0.83 -1.75 0.55 0.06
FRA:G4D
44GF Score
Winking Studios Ltd FRA:G4D
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Winking Studios 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 €0.61 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 €0.61 Mil mean?
Winking Studios (FRA:G4D) has a Operating Income of €0.61 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Winking Studios and its competitors.
Is Winking Studios' Operating Income too high?
Winking Studios' current Operating Income is €0.61 Mil. Overall, Winking Studios has a GF Score™ of 44/100, reflecting its overall financial health beyond just this single metric.
How does Winking Studios' Operating Income compare to NTES and EA?
Winking Studios' Operating Income of €0.61 Mil can be compared against companies in the Interactive Media 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 Interactive Media company?
A good Operating Income depends on the Interactive Media 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 Winking Studios and its competitors. Winking Studios's current Operating Income is €0.61 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Winking Studios stock overvalued right now?
Winking Studios (FRA:G4D) has a current Operating Income of €0.61 Mil. The current Operating Income is €0.61 Mil. Winking Studios' overall GF Score™ is 44/100 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 Winking Studios (FRA:G4D), the current Operating Income is €0.61 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.

Winking Studios Business Description

Other Exchanges WKS:SingaporeWKS:UK
Address 6 Raffles Quay, No. 14-06, Singapore, SGP, 048580
Winking Studios Ltd is an art outsourcing and game development studio providing complete end-to-end art outsourcing and game development services across various platforms. The three primary business segments of the company are the Original Equipment Manufacturer (Art Outsourcing Segment), Original Design Manufacturer (Game Development Segment), and Global Publishing and Others. The company derives maximum revenue from the Art Outsourcing Segment, which creates and develops digital art assets as part of its provision of art outsourcing services. The Group can provide a wide gamut of design services that include 2D concept art, 3D modeling, 2D animation, 3D animation, and visual effects. This art includes environment design and game character design.
44GF Score

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

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