INREF (InRetail Peru) Operating Income: $616 Mil (TTM As of Mar. 2026)

What is InRetail Peru Operating Income?

InRetail Peru INREF +8.56% 73 Operating Income is $616 Mil as of Mar. 2026. GuruFocus rates INREF with a GF Score™ of 73/100 and a GF Value™ of $24.44. The stock has 10 warning signs investors should review.

InRetail Peru's Operating Income for the three months ended in Mar. 2026 was $155 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $616 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. InRetail Peru's Operating Income for the three months ended in Mar. 2026 was $155 Mil. InRetail Peru's Revenue for the three months ended in Mar. 2026 was $1,780 Mil. Therefore, InRetail Peru's Operating Margin % for the quarter that ended in Mar. 2026 was 8.69%.

Good Sign:

InRetail Peru Corp operating margin is expanding. Margin expansion is usually a good sign.

InRetail Peru's 5-Year average Growth Rate for Operating Margin % was 1.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. InRetail Peru's annualized ROC % for the quarter that ended in Mar. 2026 was 6.75%. InRetail Peru's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 21.93%.

InRetail Peru (OTCPK:INREF) Operating Income Explanation

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

InRetail Peru's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	618.932 * ( 1 - 40.7% )	/	( (5376.871	+	5493.588)	/ 2 )
=	367.026676	/	5435.2295
=	6.75 %

where

	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	))
=	6851.941	-	1694.147	-	( 559.63	-	max(0, 1918.101	-	1699.024	+	559.63	))
=	5376.871

	Invested Capital		(Q: Mar. 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	))
=	6967.5	-	1621.772	-	( 559.192	-	max(0, 1927.408	-	1779.548	+	559.192	))
=	5493.588

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

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

InRetail Peru's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	535.136	/	( ( (2434.552 + max(-672.011, 0))	+	(2446.883 + max(-519.885, 0)) )	/	2 )
=	535.136	/	( ( 2434.552	+	2446.883 )	/	2 )
=	535.136	/	2440.7175
=	21.93 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(151.1	+	787.889	+	93.485)	-	(1694.147	+	0	+	10.338)
=	-672.011

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(151.595	+	840.735	+	122.208)	-	(1621.772	+	0	+	12.651)
=	-519.885

When net working capital is negative, 0 is used.

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

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

InRetail Peru's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2026 )	/	Revenue (Q: Mar. 2026 )
	=	154.733	/	1779.723
	=	8.69 %

* 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.

InRetail Peru Operating Income Related Terms

InRetail Peru Operating Income Historical Data

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The historical data trend for InRetail Peru's Operating Income can be seen below:

InRetail Peru Operating Income Chart

InRetail Peru Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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450.15

515.63

592.94

617.57

582.18

InRetail Peru Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Operating Income	Get a 7-Day Free Trial															121.05	131.63	150.96	178.53	154.73

73GF Score

InRetail Peru Corp INREF

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

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InRetail Peru 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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $616 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $616 Mil mean?

InRetail Peru (INREF) has a Operating Income of $616 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on InRetail Peru and its competitors.

Is InRetail Peru's Operating Income too high?

InRetail Peru's current Operating Income is $616 Mil. Overall, InRetail Peru has a GF Score™ of 73/100, reflecting its overall financial health beyond just this single metric.

How does InRetail Peru's Operating Income compare to DDS and M?

InRetail Peru's Operating Income of $616 Mil can be compared against companies in the Retail - Cyclical 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 Retail - Cyclical company?

A good Operating Income depends on the Retail - Cyclical 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 InRetail Peru and its competitors. InRetail Peru's current Operating Income is $616 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is InRetail Peru stock overvalued right now?

InRetail Peru (INREF) has a current Operating Income of $616 Mil. The stock's GF Value™ is $24.44, compared to a current price of $26.84 — trading 9.8% above its estimated fair value. The current Operating Income is $616 Mil. InRetail Peru's overall GF Score™ is 73/100 with 10 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 InRetail Peru (INREF), the current Operating Income is $616 Mil as of Mar. 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 InRetail Peru (INREF) Overvalued in 2026?

Based on GuruFocus' analysis, InRetail Peru stock appears to be overvalued. The current stock price of $26.84 is trading 9.8% above its estimated GF Value™ of $24.44.

Key valuation signals for INREF:

Operating Income: $616 Mil
GF Value™: $24.44 vs. price of $26.84 (9.8% above fair value)
GF Score™: 73/100 with 10 warning signs

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

InRetail Peru Business Description

Industry Consumer Cyclical Retail - Cyclical

Comparable Companies TSE:8267 XSGO:FALABELLA TSE:7453 PHS:SM LSE:MKS JSE:SHP DDS MEX:LIVEPOL1 TSE:3099 XKLS:5326 XSGO:CENCOSUD NSE:VMM M TSE:9005 SHSE:601933 JSE:PPH SZSE:000564 MEX:SORIANAB BKK:CRC TSE:8233

Other Exchanges INRETC1:Peru

Address Calle Morelli 139, San Borja, Lima, PER

Website https://www.inretail.pe

InRetail Peru Corp operates supermarkets, hypermarkets, pharmacies and shopping centers, as well as real estate development and digital services. Its operations are concentrated in Peru; however, it maintains operations in the exterior mainly related to the commercialization of pharmaceuticals and consumer products. The company's reportable segments include: i) Food Retail, ii) Pharmacies, iii) Shopping Malls and iv) Digital. It generates the majority of its revenue from the Food Retail segment. Geographically, it derives a majority of its revenue from Peru and also has a presence in Ecuador and Other countries. The company brands include Plaza Vea, Plaza Vea Super, Plaza Vea Express, Vivanda, Mass, and Makro brands.

73GF Score

Get the complete analysis for INREF

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

$26.84

Price

$24.44

GF Value

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