China Resources Beverage (Holdings) Co (HKSE:02460) Operating Income: HK$990 Mil (TTM As of Dec. 2025)

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HKSE:02460 China Resources Beverage (Holdings) Co Ltd HKSE:02460
20 GF Score
Price HK$7.19
! 5 Warning Signs
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What is China Resources Beverage (Holdings) Co Operating Income?

China Resources Beverage (Holdings) Co HKSE:02460 -0.28% 20 Operating Income is HK$990 Mil as of Dec. 2025. GuruFocus rates HKSE:02460 with a GF Score™ of 20/100. The stock has 5 warning signs investors should review.

China Resources Beverage (Holdings) Co's Operating Income for the six months ended in Dec. 2025 was HK$17 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was HK$990 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. China Resources Beverage (Holdings) Co's Operating Income for the six months ended in Dec. 2025 was HK$17 Mil. China Resources Beverage (Holdings) Co's Revenue for the six months ended in Dec. 2025 was HK$5,299 Mil. Therefore, China Resources Beverage (Holdings) Co's Operating Margin % for the quarter that ended in Dec. 2025 was 0.32%.

China Resources Beverage (Holdings) Co'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. China Resources Beverage (Holdings) Co's annualized ROC % for the quarter that ended in Dec. 2025 was 0.39%. China Resources Beverage (Holdings) Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 4.41%.


China Resources Beverage (Holdings) Co  (HKSE:02460) Operating Income Explanation

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

China Resources Beverage (Holdings) Co'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 )
=33.456 * ( 1 - 0% )/( (8196.524 + 8835.735)/ 2 )
=33.456/8516.1295
=0.39 %

where

Invested Capital(Q: Jun. 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))
=22600.142 - 8830.13 - ( 13540.588 - max(0, 9502.545 - 15076.033+13540.588))
=8196.524

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))
=17000.151 - 3663.041 - ( 7061.781 - max(0, 3972.176 - 8473.551+7061.781))
=8835.735

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:

China Resources Beverage (Holdings) Co'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 )
=329.474/( ( (7356.283 + max(-8175.568, 0)) + (7574.431 + max(-2602.705, 0)) )/ 2 )
=329.474/( ( 7356.283 + 7574.431 )/ 2 )
=329.474/7465.357
=4.41 %

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)
=(448.397 + 430.51 + 425.941) - (8830.13 + 0 + 650.286)
=-8175.568

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(324.547 + 441.128 + 588.034) - (3663.041 + 0 + 293.373)
=-2602.705

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 %:

China Resources Beverage (Holdings) Co'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 )
=16.728/5298.833
=0.32 %

* 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.


China Resources Beverage (Holdings) Co Operating Income Related Terms


China Resources Beverage (Holdings) Co Operating Income Historical Data

* Premium members only.

The historical data trend for China Resources Beverage (Holdings) Co'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.

China Resources Beverage (Holdings) Co Operating Income Chart

China Resources Beverage (Holdings) Co Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
1,218.79 1,289.91 1,802.43 2,189.29 1,000.31

China Resources Beverage (Holdings) Co Semi-Annual Data
Dec21 Dec22 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Income Get a 7-Day Free Trial 0.00 1,636.58 566.20 973.20 16.73
HKSE:02460
20GF Score
China Resources Beverage (Holdings) Co Ltd HKSE:02460
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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China Resources Beverage (Holdings) Co 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 HK$990 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 HK$990 Mil mean?
China Resources Beverage (Holdings) Co (HKSE:02460) has a Operating Income of HK$990 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on China Resources Beverage (Holdings) Co and its competitors.
Is China Resources Beverage (Holdings) Co's Operating Income too high?
China Resources Beverage (Holdings) Co's current Operating Income is HK$990 Mil. Overall, China Resources Beverage (Holdings) Co has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does China Resources Beverage (Holdings) Co's Operating Income compare to KO and PEP?
China Resources Beverage (Holdings) Co's Operating Income of HK$990 Mil can be compared against companies in the Beverages - Non-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 - Non-Alcoholic company?
A good Operating Income depends on the Beverages - Non-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 China Resources Beverage (Holdings) Co and its competitors. China Resources Beverage (Holdings) Co's current Operating Income is HK$990 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Resources Beverage (Holdings) Co stock overvalued right now?
China Resources Beverage (Holdings) Co (HKSE:02460) has a current Operating Income of HK$990 Mil. The current Operating Income is HK$990 Mil. China Resources Beverage (Holdings) Co's overall GF Score™ is 20/100 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 China Resources Beverage (Holdings) Co (HKSE:02460), the current Operating Income is HK$990 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.

China Resources Beverage (Holdings) Co Business Description

Address 22 Langshan Road, Shenzhen High-tech Industrial Park, North District, Nanshan District, Guangdong Province, Shenzhen, CHN
China Resources Beverage is the second-largest bottled water producer in China and a subsidiary of China Resources Group, a state-owned conglomerate. The bottled water business accounts for around 90% of the company's revenue, with C'estbon being the flagship product. The company has been leveraging its distribution network developed for water products to expand the scale of its nonwater beverages products, which accounts for roughly 10% of the company's revenue.
20GF Score

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

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