Adecco Group AG (HAM:ADIA) Operating Income: €550 Mil (TTM As of Jun. 2026)

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HAM:ADIA Adecco Group AG HAM:ADIA
66 GF Score
Price €11.80
GF Value €12.37
! 3 Warning Signs
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What is Adecco Group AG Operating Income?

Adecco Group AG HAM:ADIA -0.84% 66 Operating Income is €550 Mil as of Jun. 2026. GuruFocus rates HAM:ADIA with a GF Score™ of 66/100 and a GF Value™ of €12.37. The stock has 3 warning signs investors should review.

Adecco Group AG's Operating Income for the three months ended in Jun. 2026 was €104 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was €550 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Adecco Group AG's Operating Income for the three months ended in Jun. 2026 was €104 Mil. Adecco Group AG's Revenue for the three months ended in Jun. 2026 was €5,997 Mil. Therefore, Adecco Group AG's Operating Margin % for the quarter that ended in Jun. 2026 was 1.73%.

Warning Sign:

Adecco Group AG operating margin has been in a 5-year decline. The average rate of decline per year is -4.5%.

Adecco Group AG's 5-Year average Growth Rate for Operating Margin % was -4.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Adecco Group AG's annualized ROC % for the quarter that ended in Jun. 2026 was 3.82%. Adecco Group AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 25.31%.


Adecco Group AG  (HAM:ADIA) Operating Income Explanation

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

Adecco Group AG'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: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=416 * ( 1 - 33.33% )/( (7206 + 7297)/ 2 )
=277.3472/7251.5
=3.82 %

where

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

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

Adecco Group AG'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: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=356/( ( (902 + max(468, 0)) + (876 + max(567, 0)) )/ 2 )
=356/( ( 1370 + 1443 )/ 2 )
=356/1406.5
=25.31 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4394 + 0 + 585) - (4511 + 0 + 0)
=468

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4595 + 0 + 600) - (4628 + 0 + 0)
=567

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

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

Adecco Group AG'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 )
=104/5997
=1.73 %

* 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.


Adecco Group AG Operating Income Related Terms


Adecco Group AG Operating Income Historical Data

* Premium members only.

The historical data trend for Adecco Group AG'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.

Adecco Group AG Operating Income Chart

Adecco Group AG 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 788.00 518.00 608.00 507.00 538.00

Adecco Group AG Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 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 110.00 154.00 185.00 107.00 104.00
HAM:ADIA
66GF Score
Adecco Group AG HAM:ADIA
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Adecco Group 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 Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €550 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 €550 Mil mean?
Adecco Group AG (HAM:ADIA) has a Operating Income of €550 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Adecco Group AG and its competitors.
Is Adecco Group AG's Operating Income too high?
Adecco Group AG's current Operating Income is €550 Mil. Overall, Adecco Group AG has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does Adecco Group AG's Operating Income compare to KFY and RHI?
Adecco Group AG's Operating Income of €550 Mil can be compared against companies in the Business Services 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 Business Services company?
A good Operating Income depends on the Business Services 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 Adecco Group AG and its competitors. Adecco Group AG's current Operating Income is €550 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adecco Group AG stock overvalued right now?
Adecco Group AG (HAM:ADIA) has a current Operating Income of €550 Mil. The stock's GF Value™ is €12.37, compared to a current price of €11.80 — trading 4.6% below its estimated fair value. The current Operating Income is €550 Mil. Adecco Group AG's overall GF Score™ is 66/100 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 Adecco Group AG (HAM:ADIA), the current Operating Income is €550 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 Adecco Group AG (HAM:ADIA) Overvalued in 2026?

Based on GuruFocus' analysis, Adecco Group AG stock appears to be undervalued. The current stock price of €11.80 is trading 4.6% below its estimated GF Value™ of €12.37.

Key valuation signals for HAM:ADIA:

  • Operating Income: €550 Mil
  • GF Value™: €12.37 vs. price of €11.80 (4.6% below fair value)
  • GF Score™: 66/100 with 3 warning signs

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


Adecco Group AG Business Description

Address Bellerivestrasse 30, Zurich, CHE, CH-8008
Adecco Group provides human capital solutions. The majority of its revenue comes from flexible placement, but the company also offers permanent placement, career transition, outsourcing, and consulting services in engineering, digital, and IT. The company is organized into three business units—Adecco, Akkodis, and LHH—and operates in over 60 countries.
66GF Score

Get the complete analysis for HAM:ADIA

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

€11.80
Price
€12.37
GF Value