IGGRF (IG Group Holdings) Operating Income: $445 Mil (TTM As of May. 2025)

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IGGRF IG Group Holdings PLC IGGRF
70 GF Score
Price $24.30
GF Value $13.76
Valuation Significantly Overvalued
! 5 Warning Signs
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What is IG Group Holdings Operating Income?

IG Group Holdings IGGRF 70 Operating Income is $445 Mil as of May. 2025. GuruFocus rates IGGRF with a GF Score™ of 70/100 and a GF Value™ of $13.76 (Significantly Overvalued). The stock has 5 warning signs investors should review.

IG Group Holdings's Operating Income for the six months ended in May. 2025 was $242 Mil. Its Operating Income for the trailing twelve months (TTM) ended in May. 2025 was $445 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. IG Group Holdings's Operating Income for the six months ended in May. 2025 was $242 Mil. IG Group Holdings's Revenue for the six months ended in May. 2025 was $660 Mil. Therefore, IG Group Holdings's Operating Margin % for the quarter that ended in May. 2025 was 36.66%.

Warning Sign:

IG Group Holdings PLC operating margin has been in a 5-year decline. The average rate of decline per year is -6.1%.

IG Group Holdings's 5-Year average Growth Rate for Operating Margin % was -6.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. IG Group Holdings's annualized ROC % for the quarter that ended in May. 2025 was 21.09%. IG Group Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2025 was 243.08%.


IG Group Holdings  (OTCPK:IGGRF) Operating Income Explanation

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

IG Group Holdings's annualized ROC % for the quarter that ended in May. 2025 is calculated as:

ROC % (Q: May. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Nov. 2024 ) + Invested Capital (Q: May. 2025 ))/ count )
=483.578 * ( 1 - 23.01% )/( (1506.115 + 2024.566)/ 2 )
=372.3067022/1765.3405
=21.09 %

where

Invested Capital(Q: Nov. 2024 )
=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))
=3532.229 - 773.885 - ( 1339.363 - max(0, 782.93 - 2035.159+1339.363))
=1506.115

Invested Capital(Q: May. 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))
=4091.322 - 635.915 - ( 1430.841 - max(0, 798.531 - 2741.389+1430.841))
=2024.566

Note: The Operating Income data used here is two times the semi-annual (May. 2025) data.

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

IG Group Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: May. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Nov. 2024  Q: May. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=718.826/( ( (47.643 + max(-95.159, 0)) + (43.925 + max(499.868, 0)) )/ 2 )
=718.826/( ( 47.643 + 543.793 )/ 2 )
=718.826/295.718
=243.08 %

where Working Capital is:

Working Capital(Q: Nov. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(566.624 + 0 + 112.102) - (773.885 + 0 + 0)
=-95.159

Working Capital(Q: May. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(517.757 + 68.491 + 702.004) - (635.915 + 0 + 152.469)
=499.868

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (May. 2025) EBIT data.

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

IG Group Holdings's Operating Margin % for the quarter that ended in May. 2025 is calculated as:

Operating Margin %=Operating Income (Q: May. 2025 )/Revenue (Q: May. 2025 )
=241.789/659.546
=36.66 %

* 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.


IG Group Holdings Operating Income Related Terms


IG Group Holdings Operating Income Historical Data

* Premium members only.

The historical data trend for IG Group Holdings'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.

IG Group Holdings Operating Income Chart

IG Group Holdings Annual Data
Trend May15 May16 May17 May18 May19 May20 May21 May22 May23 May24
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 370.60 637.89 596.02 447.94 306.32

IG Group Holdings Semi-Annual Data
Nov15 May16 Nov16 May17 Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24 May25
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 178.15 127.86 176.36 203.31 241.79
IGGRF
70GF Score
IG Group Holdings PLC IGGRF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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IG Group Holdings 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 May. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was $445 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 $445 Mil mean?
IG Group Holdings (IGGRF) has a Operating Income of $445 Mil as of May. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on IG Group Holdings and its competitors.
Is IG Group Holdings' Operating Income too high?
IG Group Holdings' current Operating Income is $445 Mil. Overall, IG Group Holdings has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does IG Group Holdings' Operating Income compare to MS and GS?
IG Group Holdings' Operating Income of $445 Mil can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Operating Income depends on the Capital Markets 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 IG Group Holdings and its competitors. IG Group Holdings's current Operating Income is $445 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IG Group Holdings stock overvalued right now?
Based on GuruFocus' analysis, IG Group Holdings (IGGRF) is currently considered Significantly Overvalued. The stock's GF Value™ is $13.76, compared to a current price of $24.30 — trading 76.6% above its estimated fair value. The current Operating Income is $445 Mil. IG Group Holdings' overall GF Score™ is 70/100 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 IG Group Holdings (IGGRF), the current Operating Income is $445 Mil as of May. 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 IG Group Holdings (IGGRF) Overvalued in 2026?

Based on GuruFocus' analysis, IG Group Holdings stock appears to be overvalued. The current stock price of $24.30 is trading 76.6% above its estimated GF Value™ of $13.76. GuruFocus considers IG Group Holdings to be Significantly Overvalued.

Key valuation signals for IGGRF:

  • Operating Income: $445 Mil
  • GF Value™: $13.76 vs. price of $24.30 (76.6% above fair value)
  • GF Score™: 70/100 with 5 warning signs

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


IG Group Holdings Business Description

Address Cannon Bridge House, 25 Dowgate Hill, London, GBR, EC4R 2YA
IG Group Holdings PLC provides online trading services to its clients. The majority of the company's revenue stems from its derivative products and contracts for difference (CFDs). The company operates through various segments which are The U.K. segment which derives its revenue from financial spread bets, CFDs, binary options, and execution-only stockbroking. The Australian segment derives its revenue from CFDs and binary options. The European segment derives its revenue from CFDs, binary options, and execution-only stockbroking. The Rest of the World segment derives its revenue from the operation of a regulated futures and options exchange as well as CFDs and binary options. The company generates more than half of its revenue from the U.K., followed by Europe and Australia.
70GF Score

Get the complete analysis for IGGRF

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

$24.30
Price
$13.76
GF Value