AS Creation Tapeten AG (HAM:ACWN) Operating Income: €-1.0 Mil (TTM As of Mar. 2026)

What is AS Creation Tapeten AG Operating Income?

AS Creation Tapeten AG HAM:ACWN -0.66% 64 Operating Income is €-1.0 Mil as of Mar. 2026. GuruFocus rates HAM:ACWN with a GF Score™ of 64/100 and a GF Value™ of €7.43 (Fairly Valued). The stock has 3 warning signs investors should review.

AS Creation Tapeten AG's Operating Income for the three months ended in Mar. 2026 was €1.1 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €-1.0 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. AS Creation Tapeten AG's Operating Income for the three months ended in Mar. 2026 was €1.1 Mil. AS Creation Tapeten AG's Revenue for the three months ended in Mar. 2026 was €29.4 Mil. Therefore, AS Creation Tapeten AG's Operating Margin % for the quarter that ended in Mar. 2026 was 3.59%.

AS Creation Tapeten AG'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. AS Creation Tapeten AG's annualized ROC % for the quarter that ended in Mar. 2026 was 2.75%. AS Creation Tapeten AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 10.02%.

AS Creation Tapeten AG (HAM:ACWN) Operating Income Explanation

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

AS Creation Tapeten AG'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 )
=	4.224 * ( 1 - 45.27% )	/	( (81.562	+	86.848)	/ 2 )
=	2.3117952	/	84.205
=	2.75 %

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	))
=	98.653	-	4.842	-	( 12.249	-	max(0, 16.348	-	62.24	+	12.249	))
=	81.562

	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	))
=	103.733	-	5.916	-	( 10.969	-	max(0, 20.911	-	67.391	+	10.969	))
=	86.848

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

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

AS Creation Tapeten AG'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 )
=	5.612	/	( ( (21.857 + max(32.721, 0))	+	(22.335 + max(35.137, 0)) )	/	2 )
=	5.612	/	( ( 54.578	+	57.472 )	/	2 )
=	5.612	/	56.025
=	10.02 %

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)
=	(17.627	+	28.531	+	2.911)	-	(4.842	+	0	+	11.506)
=	32.721

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(24.467	+	29.007	+	2.574)	-	(5.916	+	0	+	14.995)
=	35.137

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 %:

AS Creation Tapeten AG'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 )
	=	1.056	/	29.404
	=	3.59 %

* 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.

AS Creation Tapeten AG Operating Income Related Terms

AS Creation Tapeten AG Operating Income Historical Data

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The historical data trend for AS Creation Tapeten AG's Operating Income can be seen below:

AS Creation Tapeten AG Operating Income Chart

AS Creation Tapeten AG Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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3.11

-7.19

-2.76

-6.75

-1.17

AS Creation Tapeten AG 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															0.90	-0.41	-0.84	-0.82	1.06

64GF Score

AS Creation Tapeten AG HAM:ACWN

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AS Creation Tapeten AG 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 €-1.0 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of €-1.0 Mil mean?

AS Creation Tapeten AG (HAM:ACWN) has a Operating Income of €-1.0 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on AS Creation Tapeten AG and its competitors.

Is AS Creation Tapeten AG's Operating Income too high?

AS Creation Tapeten AG's current Operating Income is €-1.0 Mil. Overall, AS Creation Tapeten AG has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does AS Creation Tapeten AG's Operating Income compare to SN and SGI?

AS Creation Tapeten AG's Operating Income of €-1.0 Mil can be compared against companies in the Furnishings, Fixtures & Appliances 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 Furnishings, Fixtures & Appliances company?

A good Operating Income depends on the Furnishings, Fixtures & Appliances 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 AS Creation Tapeten AG and its competitors. AS Creation Tapeten AG's current Operating Income is €-1.0 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is AS Creation Tapeten AG stock overvalued right now?

Based on GuruFocus' analysis, AS Creation Tapeten AG (HAM:ACWN) is currently considered Fairly Valued. The stock's GF Value™ is €7.43, compared to a current price of €7.55 — trading 1.6% above its estimated fair value. The current Operating Income is €-1.0 Mil. AS Creation Tapeten AG's overall GF Score™ is 64/100 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 AS Creation Tapeten AG (HAM:ACWN), the current Operating Income is €-1.0 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 AS Creation Tapeten AG (HAM:ACWN) Overvalued in 2026?

Based on GuruFocus' analysis, AS Creation Tapeten AG stock appears to be overvalued. The current stock price of €7.55 is trading 1.6% above its estimated GF Value™ of €7.43. GuruFocus considers AS Creation Tapeten AG to be Fairly Valued.

Key valuation signals for HAM:ACWN:

Operating Income: €-1.0 Mil
GF Value™: €7.43 vs. price of €7.55 (1.6% above fair value)
GF Score™: 64/100 with 3 warning signs

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

AS Creation Tapeten AG Business Description

Industry Consumer Cyclical Furnishings, Fixtures & Appliances

Comparable Companies SZSE:000333 SZSE:000651 SHSE:600690 TPE:2059 SHSE:603268 SN SGI TSE:9843 MHK LSE:HWDN MIL:DLG ALH SZSE:000921 SZSE:002032 NSE:VOLTAS SHSE:600839 SHSE:603486 XKRX:021240 TPE:8464 ASX:BRG

Other Exchanges 0QH2:UK ACWN:Germany

Address Sudstrasse 47, Derschlag, Gummersbach, NW, DEU, D-51645

Website https://www.as-creation.de

AS Creation Tapeten AG is a wallpaper manufacturer in Europe. It operates through two segments: Wallpaper and Furnishing Fabrics. The Wallpaper segment produces and markets wallpapers and borders for the domestic and international market. The Furnishing Fabrics segment focuses on the marketing of decorative fabrics, such as curtains and furnishing fabrics. The company derives majority of its revenues from the Wallpaper Segment. Geographical presence of company is in England, the Netherlands, France and Russia.

64GF Score

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€7.55

Price

€7.43

GF Value

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