ICOSF (Intercos SpA) Operating Income: $120 Mil (TTM As of Dec. 2025)


ICOSF Intercos SpA ICOSF
81 GF Score
Price $14.44
GF Value $19.52
! 1 Warning Sign
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What is Intercos SpA Operating Income?

Intercos SpA ICOSF 81 Operating Income is $120 Mil as of Dec. 2025. GuruFocus rates ICOSF with a GF Score™ of 81/100 and a GF Value™ of $19.52. The stock has 1 warning sign investors should review.

Intercos SpA's Operating Income for the six months ended in Dec. 2025 was $69 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $120 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Intercos SpA's Operating Income for the six months ended in Dec. 2025 was $69 Mil. Intercos SpA's Revenue for the six months ended in Dec. 2025 was $612 Mil. Therefore, Intercos SpA's Operating Margin % for the quarter that ended in Dec. 2025 was 11.35%.

Good Sign:

Intercos SpA operating margin is expanding. Margin expansion is usually a good sign.

Intercos SpA's 5-Year average Growth Rate for Operating Margin % was 2.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Intercos SpA's annualized ROC % for the quarter that ended in Dec. 2025 was 13.95%. Intercos SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 20.19%.

Intercos SpA  (OTCPK:ICOSF) Operating Income Explanation

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

Intercos SpA'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 )
=138.786 * ( 1 - 23.28% )/( (787.083 + 739.302)/ 2 )
=106.4766192/763.1925
=13.95 %

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))
=1159.17 - 226.528 - ( 145.559 - max(0, 360.554 - 602.999+145.559))
=787.083

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))
=1146.925 - 229.334 - ( 178.289 - max(0, 318.498 - 567.098+178.289))
=739.302

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:

Intercos SpA'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 )
=85.388/( ( (284.083 + max(153.633, 0)) + (295.242 + max(112.682, 0)) )/ 2 )
=85.388/( ( 437.716 + 407.924 )/ 2 )
=85.388/422.82
=20.19 %

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)
=(201.615 + 233.218 + 22.607) - (226.528 + 0 + 77.279)
=153.633

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(165.884 + 201.636 + 1.939) - (229.334 + 0 + 27.443)
=112.682

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 %:

Intercos SpA'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 )
=69.393/611.631
=11.35 %

* 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.

Intercos SpA Operating Income Related Terms

Intercos SpA Operating Income Historical Data

* Premium members only.

The historical data trend for Intercos SpA'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.

Intercos SpA Operating Income Chart

Intercos SpA Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 69.00 81.28 100.40 98.12 120.80

Intercos SpA Semi-Annual Data
Dec18 Dec19 Jun20 Dec20 Jun21 Dec21 Dec22 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 37.78 61.37 50.63 69.39
ICOSF
81GF Score
Intercos SpA ICOSF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Intercos SpA 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 $120 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 $120 Mil mean?
Intercos SpA (ICOSF) has a Operating Income of $120 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Intercos SpA and its competitors.
Is Intercos SpA's Operating Income too high?
Intercos SpA's current Operating Income is $120 Mil. Overall, Intercos SpA has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does Intercos SpA's Operating Income compare to PG and CL?
Intercos SpA's Operating Income of $120 Mil can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Operating Income depends on the Consumer Packaged Goods 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 Intercos SpA and its competitors. Intercos SpA's current Operating Income is $120 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Intercos SpA stock overvalued right now?
Intercos SpA (ICOSF) has a current Operating Income of $120 Mil. The stock's GF Value™ is $19.52, compared to a current price of $14.44 — trading 26% below its estimated fair value. The current Operating Income is $120 Mil. Intercos SpA's overall GF Score™ is 81/100 with 1 warning sign 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 Intercos SpA (ICOSF), the current Operating Income is $120 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.

Is Intercos SpA (ICOSF) Overvalued in 2026?

Based on GuruFocus' analysis, Intercos SpA stock appears to be undervalued. The current stock price of $14.44 is trading 26% below its estimated GF Value™ of $19.52.

Key valuation signals for ICOSF:

  • Operating Income: $120 Mil
  • GF Value™: $19.52 vs. price of $14.44 (26% below fair value)
  • GF Score™: 81/100 with 1 warning sign

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

Intercos SpA Business Description

Other Exchanges ICOS:Italy0AAR:UK
Address Via Marconi 84, Agrate Brianza, ITA, 20864
Intercos SpA is engaged in the manufacturing of cosmetics. Its offerings include color cosmetics, pencils, nail polish, skincare, and personal care products. The turnover is divided across the following product families: make up products, hair and body care products, skincare products.
81GF Score

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

$14.44
Price
$19.52
GF Value