Pernod Ricard (FRA:PER) Operating Income: €2,579 Mil (TTM As of Dec. 2025)

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FRA:PER Pernod Ricard SA FRA:PER
84 GF Score
Price €63.14
GF Value €103.89
Valuation Possible Value Trap
! 5 Warning Signs
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What is Pernod Ricard Operating Income?

Pernod Ricard FRA:PER -0.63% 84 Operating Income is €2,579 Mil as of Dec. 2025. GuruFocus rates FRA:PER with a GF Score™ of 84/100 and a GF Value™ of €103.89 (Possible Value Trap). The stock has 5 warning signs investors should review.

Pernod Ricard's Operating Income for the six months ended in Dec. 2025 was €1,611 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €2,579 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Pernod Ricard's Operating Income for the six months ended in Dec. 2025 was €1,611 Mil. Pernod Ricard's Revenue for the six months ended in Dec. 2025 was €5,253 Mil. Therefore, Pernod Ricard's Operating Margin % for the quarter that ended in Dec. 2025 was 30.67%.

Pernod Ricard's 5-Year average Growth Rate for Operating Margin % was -0.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Pernod Ricard's annualized ROC % for the quarter that ended in Dec. 2025 was 7.52%. Pernod Ricard's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 30.57%.


Pernod Ricard  (FRA:PER) Operating Income Explanation

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

Pernod Ricard'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 )
=3222 * ( 1 - 26.27% )/( (31516 + 31667)/ 2 )
=2375.5806/31591.5
=7.52 %

where

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:

Pernod Ricard'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 )
=3202/( ( (4206 + max(5834, 0)) + (4131 + max(6775, 0)) )/ 2 )
=3202/( ( 10040 + 10906 )/ 2 )
=3202/10473
=30.57 %

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)
=(1484 + 8418 + 572) - (3735 + 0 + 905)
=5834

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1772 + 8371 + 570) - (3611 + 0 + 327)
=6775

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 %:

Pernod Ricard'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 )
=1611/5253
=30.67 %

* 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.


Pernod Ricard Operating Income Related Terms


Pernod Ricard Operating Income Historical Data

* Premium members only.

The historical data trend for Pernod Ricard'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.

Pernod Ricard Operating Income Chart

Pernod Ricard Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,423.00 3,019.00 3,320.00 3,109.00 2,941.00

Pernod Ricard 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 2,144.00 965.00 1,973.00 968.00 1,611.00
FRA:PER
84GF Score
Pernod Ricard SA FRA:PER
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Pernod Ricard 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 €2,579 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 €2,579 Mil mean?
Pernod Ricard (FRA:PER) has a Operating Income of €2,579 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Pernod Ricard and its competitors.
Is Pernod Ricard's Operating Income too high?
Pernod Ricard's current Operating Income is €2,579 Mil. Overall, Pernod Ricard has a GF Score™ of 84/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Pernod Ricard's Operating Income compare to BF.B?
Pernod Ricard's Operating Income of €2,579 Mil can be compared against companies in the Beverages - Alcoholic 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 Beverages - Alcoholic company?
A good Operating Income depends on the Beverages - Alcoholic 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 Pernod Ricard and its competitors. Pernod Ricard's current Operating Income is €2,579 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pernod Ricard stock overvalued right now?
Based on GuruFocus' analysis, Pernod Ricard (FRA:PER) is currently considered Possible Value Trap. The stock's GF Value™ is €103.89, compared to a current price of €63.14 — trading 39.2% below its estimated fair value. The current Operating Income is €2,579 Mil. Pernod Ricard's overall GF Score™ is 84/100 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 Pernod Ricard (FRA:PER), the current Operating Income is €2,579 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 Pernod Ricard (FRA:PER) Overvalued in 2026?

Based on GuruFocus' analysis, Pernod Ricard stock appears to be undervalued. The current stock price of €63.14 is trading 39.2% below its estimated GF Value™ of €103.89. GuruFocus considers Pernod Ricard to be Possible Value Trap.

Key valuation signals for FRA:PER:

  • Operating Income: €2,579 Mil
  • GF Value™: €103.89 vs. price of €63.14 (39.2% below fair value)
  • GF Score™: 84/100 with 5 warning signs

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


Pernod Ricard Business Description

Address 5, Cours Paul Ricard, Paris, FRA, 75008
Pernod Ricard was formed in 1975 through the merger of Pernod, founded in 1805, and Ricard, created in 1932. Through acquisitions, the firm has grown to become the world's second-largest distiller by volume, behind Diageo. Pernod Ricard possesses the most comprehensive spirits portfolio globally, distributing over 240 brands across 160 countries. Flagship spirits brands include Absolut vodka, Beefeater gin, Chivas Regal and The Glenlivet scotch whisky, Jameson Irish whiskey, Malibu rum, and Martell cognac. The firm has also shed noncore assets over the years, including several wine brands in 2025.
84GF Score

Get the complete analysis for FRA:PER

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

€63.14
Price
€103.89
GF Value