GVDBF (Givaudan) Operating Income: $1,669 Mil (TTM As of Jun. 2026)

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GVDBF Givaudan SA GVDBF
86 GF Score
Price $3,892.89
GF Value $4,549.48
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Givaudan Operating Income?

Givaudan GVDBF 86 Operating Income is $1,669 Mil as of Jun. 2026. GuruFocus rates GVDBF with a GF Score™ of 86/100 and a GF Value™ of $4,549.48 (Modestly Undervalued). The stock has 4 warning signs investors should review.

Givaudan's Operating Income for the six months ended in Jun. 2026 was $890 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was $1,669 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Givaudan's Operating Income for the six months ended in Jun. 2026 was $890 Mil. Givaudan's Revenue for the six months ended in Jun. 2026 was $4,753 Mil. Therefore, Givaudan's Operating Margin % for the quarter that ended in Jun. 2026 was 18.72%.

Good Sign:

Givaudan SA operating margin is expanding. Margin expansion is usually a good sign.

Givaudan's 5-Year average Growth Rate for Operating Margin % was 3.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Givaudan's annualized ROC % for the quarter that ended in Jun. 2026 was 11.45%. Givaudan's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 31.96%.


Givaudan  (OTCPK:GVDBF) Operating Income Explanation

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

Givaudan's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=1779.056 * ( 1 - 18.1% )/( (12213.578 + 13232.829)/ 2 )
=1457.046864/12723.2035
=11.45 %

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))
=14887.69 - 1743.004 - ( 931.108 - max(0, 2943.908 - 5109.8+931.108))
=12213.578

Invested Capital(Q: Jun. 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))
=15162.017 - 1533.842 - ( 395.346 - max(0, 4198.674 - 5419.742+395.346))
=13232.829

Note: The Operating Income data used here is two times the semi-annual (Jun. 2026) data.

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

Givaudan's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1598.9/( ( (2947.672 + max(1524.657, 0)) + (2975.103 + max(2557.237, 0)) )/ 2 )
=1598.9/( ( 4472.329 + 5532.34 )/ 2 )
=1598.9/5002.3345
=31.96 %

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)
=(2029.113 + 1788.179 + 361.4) - (1743.004 + 0 + 911.031)
=1524.657

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2437.132 + 2045.54 + 541.724) - (1533.842 + 0 + 933.317)
=2557.237

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2026) EBIT data.

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

Givaudan's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=889.528/4752.909
=18.72 %

* 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.


Givaudan Operating Income Related Terms


Givaudan Operating Income Historical Data

* Premium members only.

The historical data trend for Givaudan'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.

Givaudan Operating Income Chart

Givaudan 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 1,187.84 1,175.40 1,281.22 1,576.94 1,725.44

Givaudan Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Jun26
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 818.98 755.94 927.20 779.27 889.53
GVDBF
86GF Score
Givaudan SA GVDBF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Givaudan 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 Jun. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was $1,669 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 $1,669 Mil mean?
Givaudan (GVDBF) has a Operating Income of $1,669 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Givaudan and its competitors.
Is Givaudan's Operating Income too high?
Givaudan's current Operating Income is $1,669 Mil. Overall, Givaudan has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Givaudan's Operating Income compare to LIN and SHW?
Givaudan's Operating Income of $1,669 Mil can be compared against companies in the Chemicals 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 Chemicals company?
A good Operating Income depends on the Chemicals 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 Givaudan and its competitors. Givaudan's current Operating Income is $1,669 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Givaudan stock overvalued right now?
Based on GuruFocus' analysis, Givaudan (GVDBF) is currently considered Modestly Undervalued. The stock's GF Value™ is $4,549.48, compared to a current price of $3,892.89 — trading 14.4% below its estimated fair value. The current Operating Income is $1,669 Mil. Givaudan's overall GF Score™ is 86/100 with 4 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 Givaudan (GVDBF), the current Operating Income is $1,669 Mil as of Jun. 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 Givaudan (GVDBF) Overvalued in 2026?

Based on GuruFocus' analysis, Givaudan stock appears to be undervalued. The current stock price of $3,892.89 is trading 14.4% below its estimated GF Value™ of $4,549.48. GuruFocus considers Givaudan to be Modestly Undervalued.

Key valuation signals for GVDBF:

  • Operating Income: $1,669 Mil
  • GF Value™: $4,549.48 vs. price of $3,892.89 (14.4% below fair value)
  • GF Score™: 86/100 with 4 warning signs

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


Givaudan Business Description

Address Chemin de la Parfumerie 5, Vernier, CHE, 1214
Spun off from Roche in 2000, Givaudan is one of the world's leading flavor and fragrance manufacturers, with a presence in more than 80 countries. It sources more than 11,000 different ingredients from over 100 countries. The company serves end consumer markets with fragrances for personal, home, and laundry care brands, including prestige perfumes. In flavors, customers are in beverages, savory, snacks, sweet goods, and dairy. Givaudan has more than 17,000 employees, and its perfumery team is the largest in the industry.
86GF Score

Get the complete analysis for GVDBF

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

$3,892.89
Price
$4,549.48
GF Value