CropEnergies AG (HAM:CE2) Operating Income: €-10.07 Mil (TTM As of Feb. 2026)

What is CropEnergies AG Operating Income?

CropEnergies AG HAM:CE2 +0.72% 67 Operating Income is €-10.07 Mil as of Feb. 2026. GuruFocus rates HAM:CE2 with a GF Score™ of 67/100 and a GF Value™ of €14.55 (Fairly Valued). The stock has 4 warning signs investors should review.

CropEnergies AG's Operating Income for the six months ended in Feb. 2026 was €-10.07 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was €-10.07 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. CropEnergies AG's Operating Income for the six months ended in Feb. 2026 was €-10.07 Mil. CropEnergies AG's Revenue for the six months ended in Feb. 2026 was €4.58 Mil. Therefore, CropEnergies AG's Operating Margin % for the quarter that ended in Feb. 2026 was -220.20%.

CropEnergies 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. CropEnergies AG's annualized ROC % for the quarter that ended in Feb. 2026 was -2.00%. CropEnergies AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was -183,535.48%.

CropEnergies AG (HAM:CE2) Operating Income Explanation

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

CropEnergies AG's annualized ROC % for the quarter that ended in Feb. 2026 is calculated as:

	ROC % (Q: Feb. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Feb. 2025 )	+	Invested Capital (Q: Feb. 2026 ))	/ count )
=	-10.074 * ( 1 - 0% )	/	( (523.598	+	483.52)	/ 2 )
=	-10.074	/	503.559
=	-2.00 %

where

	Invested Capital		(Q: Feb. 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	))
=	867.855	-	344.254	-	( 0.003	-	max(0, 344.119	-	395.493	+	0.003	))
=	523.598

	Invested Capital		(Q: Feb. 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	))
=	757.268	-	273.746	-	( 0.002	-	max(0, 273.621	-	284.924	+	0.002	))
=	483.52

Note: The Operating Income data used here is one times the annual (Feb. 2026) data.

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

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

	ROC (Joel Greenblatt) %		(Q: Feb. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Feb. 2025		Q: Feb. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-28.448	/	( ( (0.022 + max(-339.581, 0))	+	(0.009 + max(-270.315, 0)) )	/	2 )
=	-28.448	/	( ( 0.022	+	0.009 )	/	2 )
=	-28.448	/	0.0155
=	-183,535.48 %

where Working Capital is:

	Working Capital		(Q: Feb. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4.007	+	0	+	0.53100000000001)	-	(344.254	+	0	+	-0.13499999999999)
=	-339.581

	Working Capital		(Q: Feb. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	3.306)	-	(273.746	+	0	+	-0.125)
=	-270.315

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Feb. 2026) EBIT data.

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

CropEnergies AG's Operating Margin % for the quarter that ended in Feb. 2026 is calculated as:

Operating Margin %	=	Operating Income (Q: Feb. 2026 )	/	Revenue (Q: Feb. 2026 )
	=	-10.074	/	4.575
	=	-220.20 %

* 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.

CropEnergies AG Operating Income Related Terms

CropEnergies AG Operating Income Historical Data

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The historical data trend for CropEnergies AG's Operating Income can be seen below:

CropEnergies AG Operating Income Chart

CropEnergies AG Annual Data

Trend

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Feb24

Feb25

Feb26

Operating Income

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117.57

-14.26

-13.11

-10.79

-10.07

CropEnergies AG Semi-Annual Data
	Feb07	Feb08	Feb09	Feb10	Feb11	Feb12	Feb13	Feb14	Feb15	Feb16	Feb17	Feb18	Feb19	Feb20	Feb21	Feb22	Feb23	Feb24	Feb25	Feb26
Operating Income	Get a 7-Day Free Trial															117.57	-14.26	-13.11	-10.79	-10.07

67GF Score

CropEnergies AG HAM:CE2

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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CropEnergies 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was €-10.07 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of €-10.07 Mil mean?

CropEnergies AG (HAM:CE2) has a Operating Income of €-10.07 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on CropEnergies AG and its competitors.

Is CropEnergies AG's Operating Income too high?

CropEnergies AG's current Operating Income is €-10.07 Mil. Overall, CropEnergies AG has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does CropEnergies AG's Operating Income compare to LIN and SHW?

CropEnergies AG's Operating Income of €-10.07 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 CropEnergies AG and its competitors. CropEnergies AG's current Operating Income is €-10.07 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is CropEnergies AG stock overvalued right now?

Based on GuruFocus' analysis, CropEnergies AG (HAM:CE2) is currently considered Fairly Valued. The stock's GF Value™ is €14.55, compared to a current price of €14.00 — trading 3.8% below its estimated fair value. The current Operating Income is €-10.07 Mil. CropEnergies AG's overall GF Score™ is 67/100 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 CropEnergies AG (HAM:CE2), the current Operating Income is €-10.07 Mil as of Feb. 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 CropEnergies AG (HAM:CE2) Overvalued in 2026?

Based on GuruFocus' analysis, CropEnergies AG stock appears to be undervalued. The current stock price of €14.00 is trading 3.8% below its estimated GF Value™ of €14.55. GuruFocus considers CropEnergies AG to be Fairly Valued.

Key valuation signals for HAM:CE2:

Operating Income: €-10.07 Mil
GF Value™: €14.55 vs. price of €14.00 (3.8% below fair value)
GF Score™: 67/100 with 4 warning signs

No single metric tells the full story. See the HAM:CE2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

CropEnergies AG Business Description

Industry Basic Materials Chemicals

Comparable Companies XTER:LXS XTER:VBK XTER:UZU XTER:2HRA XTER:MZX XTER:NTG XTER:BNN XTER:WCH LIN XPAR:AI SHW ECL APD SHSE:603256 XSWX:GIVN TPE:1303 XSWX:SIKA SHSE:600309 SHSE:688146 OCSE:NSIS B

Address Maximilianstrasse 10, Mannheim, BW, DEU, D-68165

Website https://www.cropenergies.com

CropEnergies AG is a German company which manufactures bioethanol for the fuel sector from cereals and sugar beet. The company also produces various food and animal feed products such as ProtiWanze, a liquid protein animal feed for feeding ruminants and pigs, as well as a high-grade dry stillage protein animal feed. In addition, it produces neutral alcohol for the beverage, food, cosmetics and pharmaceutical industries, as well as for industrial applications, such as the production of windscreen washer fluid and disinfectants.

67GF Score

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

€14.00

Price

€14.55

GF Value

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