H. Lundbeck AS (FRA:LDBA) Operating Income: €768 Mil (TTM As of Mar. 2026)

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FRA:LDBA H. Lundbeck AS FRA:LDBA
84 GF Score
Price €5.63
GF Value €6.21
Valuation Fairly Valued
! 3 Warning Signs
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What is H. Lundbeck AS Operating Income?

H. Lundbeck AS FRA:LDBA -1.83% 84 Operating Income is €768 Mil as of Mar. 2026. GuruFocus rates FRA:LDBA with a GF Score™ of 84/100 and a GF Value™ of €6.21 (Fairly Valued). The stock has 3 warning signs investors should review.

H. Lundbeck AS's Operating Income for the three months ended in Mar. 2026 was €288 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €768 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. H. Lundbeck AS's Operating Income for the three months ended in Mar. 2026 was €288 Mil. H. Lundbeck AS's Revenue for the three months ended in Mar. 2026 was €953 Mil. Therefore, H. Lundbeck AS's Operating Margin % for the quarter that ended in Mar. 2026 was 30.25%.

Good Sign:

H. Lundbeck AS operating margin is expanding. Margin expansion is usually a good sign.

H. Lundbeck AS's 5-Year average Growth Rate for Operating Margin % was 11.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. H. Lundbeck AS's annualized ROC % for the quarter that ended in Mar. 2026 was 16.01%. H. Lundbeck AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 223.83%.

H. Lundbeck AS  (FRA:LDBA) Operating Income Explanation

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

H. Lundbeck AS'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 )
=1153.28 * ( 1 - 22.01% )/( (5516.243 + 5721.579)/ 2 )
=899.443072/5618.911
=16.01 %

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))
=6969.478 - 993.593 - ( 459.642 - max(0, 1185.323 - 1711.508+459.642))
=5516.243

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))
=6997.947 - 1014.672 - ( 261.696 - max(0, 1202.916 - 1692.057+261.696))
=5721.579

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

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

H. Lundbeck AS'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 )
=1153.28/( ( (393.501 + max(-11.916, 0)) + (399.634 + max(237.346, 0)) )/ 2 )
=1153.28/( ( 393.501 + 636.98 )/ 2 )
=1153.28/515.2405
=223.83 %

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)
=(482.671 + 598.887 + 81.941) - (993.593 + 0 + 181.822)
=-11.916

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(815.056 + 615.306 + -0.00099999999997635) - (1014.672 + 0 + 178.343)
=237.346

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 %:

H. Lundbeck AS'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 )
=288.32/953.262
=30.25 %

* 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.

H. Lundbeck AS Operating Income Related Terms

H. Lundbeck AS Operating Income Historical Data

* Premium members only.

The historical data trend for H. Lundbeck AS'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.

H. Lundbeck AS Operating Income Chart

H. Lundbeck AS 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 270.30 383.36 428.66 438.47 706.27

H. Lundbeck AS 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 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 222.29 210.58 218.53 50.21 288.32
FRA:LDBA
84GF Score
H. Lundbeck AS FRA:LDBA
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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H. Lundbeck AS 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 €768 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 €768 Mil mean?
H. Lundbeck AS (FRA:LDBA) has a Operating Income of €768 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on H. Lundbeck AS and its competitors.
Is H. Lundbeck AS's Operating Income too high?
H. Lundbeck AS's current Operating Income is €768 Mil. Overall, H. Lundbeck AS has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does H. Lundbeck AS's Operating Income compare to ZTS and UTHR?
H. Lundbeck AS's Operating Income of €768 Mil can be compared against companies in the Drug Manufacturers 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 Drug Manufacturers company?
A good Operating Income depends on the Drug Manufacturers 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 H. Lundbeck AS and its competitors. H. Lundbeck AS's current Operating Income is €768 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is H. Lundbeck AS stock overvalued right now?
Based on GuruFocus' analysis, H. Lundbeck AS (FRA:LDBA) is currently considered Fairly Valued. The stock's GF Value™ is €6.21, compared to a current price of €5.63 — trading 9.4% below its estimated fair value. The current Operating Income is €768 Mil. H. Lundbeck AS's overall GF Score™ is 84/100 with 3 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 H. Lundbeck AS (FRA:LDBA), the current Operating Income is €768 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 H. Lundbeck AS (FRA:LDBA) Overvalued in 2026?

Based on GuruFocus' analysis, H. Lundbeck AS stock appears to be undervalued. The current stock price of €5.63 is trading 9.4% below its estimated GF Value™ of €6.21. GuruFocus considers H. Lundbeck AS to be Fairly Valued.

Key valuation signals for FRA:LDBA:

  • Operating Income: €768 Mil
  • GF Value™: €6.21 vs. price of €5.63 (9.4% below fair value)
  • GF Score™: 84/100 with 3 warning signs

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

H. Lundbeck AS Business Description

Address Ottiliavej 9, Valby, DNK, 2500
Lundbeck is a Denmark-based pharmaceutical firm that focuses on the development and commercialization of central nervous system drugs including antidepressants, antipsychotics, and antiepileptic products. The company's portfolio includes Abilify Maintena and Rexulti for psychosis, Brintellix/Trintellix for depression, Northera for Parkinson's disease symptoms, Sabril and Onfi for seizures, and Vyepti for migraine prevention. Most of the company's sales are derived in North America, followed by Asia and Europe.
84GF Score

Get the complete analysis for FRA:LDBA

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

€5.63
Price
€6.21
GF Value