Hebei Construction Group (FRA:H9D) Operating Income: €53 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:H9D Hebei Construction Group Corp Ltd FRA:H9D
40 GF Score
Price €0.02
GF Value €0.03
! 7 Warning Signs
View Full Analysis

What is Hebei Construction Group Operating Income?

Hebei Construction Group FRA:H9D 40 Operating Income is €53 Mil as of Dec. 2025. GuruFocus rates FRA:H9D with a GF Score™ of 40/100 and a GF Value™ of €0.03. The stock has 7 warning signs investors should review.

Hebei Construction Group's Operating Income for the six months ended in Dec. 2025 was €13 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €53 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Hebei Construction Group's Operating Income for the six months ended in Dec. 2025 was €13 Mil. Hebei Construction Group's Revenue for the six months ended in Dec. 2025 was €918 Mil. Therefore, Hebei Construction Group's Operating Margin % for the quarter that ended in Dec. 2025 was 1.45%.

Warning Sign:

Hebei Construction Group Corp Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -3.5%.

Hebei Construction Group's 5-Year average Growth Rate for Operating Margin % was -3.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Hebei Construction Group's annualized ROC % for the quarter that ended in Dec. 2025 was 1.24%. Hebei Construction Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -35.16%.


Hebei Construction Group  (FRA:H9D) Operating Income Explanation

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

Hebei Construction Group'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 )
=26.584 * ( 1 - 0% )/( (2269.244 + 2034.775)/ 2 )
=26.584/2152.0095
=1.24 %

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))
=7049.021 - 4410.548 - ( 521.353 - max(0, 5906.455 - 6275.684+521.353))
=2269.244

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))
=5794.521 - 3642.763 - ( 530.058 - max(0, 4960.271 - 5077.254+530.058))
=2034.775

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:

Hebei Construction Group'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 )
=-36.906/( ( (111.775 + max(-4646.752, 0)) + (98.154 + max(-3127.329, 0)) )/ 2 )
=-36.906/( ( 111.775 + 98.154 )/ 2 )
=-36.906/104.9645
=-35.16 %

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)
=(851.496 + 46.196 + 151.074) - (4410.548 + 0 + 1284.97)
=-4646.752

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1186.538 + 39.417 + 303.479) - (3642.763 + 0 + 1014)
=-3127.329

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 %:

Hebei Construction Group'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 )
=13.292/918.08
=1.45 %

* 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.


Hebei Construction Group Operating Income Related Terms


Hebei Construction Group Operating Income Historical Data

* Premium members only.

The historical data trend for Hebei Construction Group'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.

Hebei Construction Group Operating Income Chart

Hebei Construction Group 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 241.79 108.10 131.58 100.94 53.57

Hebei Construction Group 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 77.87 48.26 51.51 40.11 13.29
FRA:H9D
40GF Score
Hebei Construction Group Corp Ltd FRA:H9D
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Hebei Construction Group 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 €53 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 €53 Mil mean?
Hebei Construction Group (FRA:H9D) has a Operating Income of €53 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Hebei Construction Group and its competitors.
Is Hebei Construction Group's Operating Income too high?
Hebei Construction Group's current Operating Income is €53 Mil. Overall, Hebei Construction Group has a GF Score™ of 40/100, reflecting its overall financial health beyond just this single metric.
How does Hebei Construction Group's Operating Income compare to PWR and FIX?
Hebei Construction Group's Operating Income of €53 Mil can be compared against companies in the Construction 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 Construction company?
A good Operating Income depends on the Construction 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 Hebei Construction Group and its competitors. Hebei Construction Group's current Operating Income is €53 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hebei Construction Group stock overvalued right now?
Hebei Construction Group (FRA:H9D) has a current Operating Income of €53 Mil. The stock's GF Value™ is €0.03, compared to a current price of €0.02 — trading 21.7% below its estimated fair value. The current Operating Income is €53 Mil. Hebei Construction Group's overall GF Score™ is 40/100 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 Hebei Construction Group (FRA:H9D), the current Operating Income is €53 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 Hebei Construction Group (FRA:H9D) Overvalued in 2026?

Based on GuruFocus' analysis, Hebei Construction Group stock appears to be undervalued. The current stock price of €0.02 is trading 21.7% below its estimated GF Value™ of €0.03.

Key valuation signals for FRA:H9D:

  • Operating Income: €53 Mil
  • GF Value™: €0.03 vs. price of €0.02 (21.7% below fair value)
  • GF Score™: 40/100 with 7 warning signs

No single metric tells the full story. See the FRA:H9D stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hebei Construction Group Business Description

Other Exchanges 01727:Hong Kong
Address No. 125, Lugang Road, Jingxiu District, Hebei Province, Baoding, CHN
Hebei Construction Group Corp Ltd is an engineering and construction company. The company's services include construction contracting works of residential, public, industrial, and commercial buildings. It has two segments that are Construction contracting business and Other business. The construction contracting business segment provides general contractors for building construction projects and infrastructure construction projects. Other segment mainly includes concession arrangements and other services of the group. The majority of the group's revenue is generated from Mainland China.
40GF Score

Get the complete analysis for FRA:H9D

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

€0.02
Price
€0.03
GF Value