Baydoner Restoranlari AS (IST:BYDNR) Operating Income: ₺-210 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

IST:BYDNR Baydoner Restoranlari AS IST:BYDNR
76 GF Score
Price ₺38.78
GF Value ₺30.63
Valuation Modestly Overvalued
! 4 Warning Signs
View Full Analysis

What is Baydoner Restoranlari AS Operating Income?

Baydoner Restoranlari AS IST:BYDNR +2.05% 76 Operating Income is ₺-210 Mil as of Mar. 2026. GuruFocus rates IST:BYDNR with a GF Score™ of 76/100 and a GF Value™ of ₺30.63 (Modestly Overvalued). The stock has 4 warning signs investors should review.

Baydoner Restoranlari AS's Operating Income for the three months ended in Mar. 2026 was ₺20 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ₺-210 Mil.

Warning Sign:

Baydoner Restoranlari AS had lost money in 50% of the time over the past 12quarters.

Operating Margin % is calculated as Operating Income divided by its Revenue. Baydoner Restoranlari AS's Operating Income for the three months ended in Mar. 2026 was ₺20 Mil. Baydoner Restoranlari AS's Revenue for the three months ended in Mar. 2026 was ₺1,134 Mil. Therefore, Baydoner Restoranlari AS's Operating Margin % for the quarter that ended in Mar. 2026 was 1.76%.

Baydoner Restoranlari AS'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. Baydoner Restoranlari AS's annualized ROC % for the quarter that ended in Mar. 2026 was 0.00%. Baydoner Restoranlari AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 12.31%.


Baydoner Restoranlari AS  (IST:BYDNR) Operating Income Explanation

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

Baydoner Restoranlari AS'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 )
=79.7 * ( 1 - 100% )/( (2982.767 + 3271.194)/ 2 )
=0/3126.9805
=0.00 %

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))
=3180.464 - 489.078 - ( 173.866 - max(0, 951.109 - 659.728+173.866))
=2982.767

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))
=3444.338 - 447.265 - ( 248.486 - max(0, 1060.692 - 786.571+248.486))
=3271.194

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

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

Baydoner Restoranlari AS'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 )
=295.22/( ( (2328.077 + max(-108.614, 0)) + (2453.074 + max(14.748, 0)) )/ 2 )
=295.22/( ( 2328.077 + 2467.822 )/ 2 )
=295.22/2397.9495
=12.31 %

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)
=(89.429 + 208.305 + 179.375) - (489.078 + 0 + 96.645)
=-108.614

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(97.44 + 214.468 + 221.052) - (447.265 + 0 + 70.947)
=14.748

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 %:

Baydoner Restoranlari AS'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 )
=19.925/1133.695
=1.76 %

* 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.


Baydoner Restoranlari AS Operating Income Related Terms


Baydoner Restoranlari AS Operating Income Historical Data

* Premium members only.

The historical data trend for Baydoner Restoranlari AS'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.

Baydoner Restoranlari AS Operating Income Chart

Baydoner Restoranlari AS Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 25.82 204.34 263.66 -20.02 -265.07

Baydoner Restoranlari AS Quarterly Data
Dec20 Dec21 Mar22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 -34.07 -78.14 -21.56 -129.84 19.93
IST:BYDNR
76GF Score
Baydoner Restoranlari AS IST:BYDNR
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Baydoner Restoranlari AS 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 ₺-210 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 ₺-210 Mil mean?
Baydoner Restoranlari AS (IST:BYDNR) has a Operating Income of ₺-210 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Baydoner Restoranlari AS and its competitors.
Is Baydoner Restoranlari AS's Operating Income too high?
Baydoner Restoranlari AS's current Operating Income is ₺-210 Mil. Overall, Baydoner Restoranlari AS has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Baydoner Restoranlari AS's Operating Income compare to MCD and SBUX?
Baydoner Restoranlari AS's Operating Income of ₺-210 Mil can be compared against companies in the Restaurants 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 Restaurants company?
A good Operating Income depends on the Restaurants 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 Baydoner Restoranlari AS and its competitors. Baydoner Restoranlari AS's current Operating Income is ₺-210 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Baydoner Restoranlari AS stock overvalued right now?
Based on GuruFocus' analysis, Baydoner Restoranlari AS (IST:BYDNR) is currently considered Modestly Overvalued. The stock's GF Value™ is ₺30.63, compared to a current price of ₺38.78 — trading 26.6% above its estimated fair value. The current Operating Income is ₺-210 Mil. Baydoner Restoranlari AS's overall GF Score™ is 76/100 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 Baydoner Restoranlari AS (IST:BYDNR), the current Operating Income is ₺-210 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 Baydoner Restoranlari AS (IST:BYDNR) Overvalued in 2026?

Based on GuruFocus' analysis, Baydoner Restoranlari AS stock appears to be overvalued. The current stock price of ₺38.78 is trading 26.6% above its estimated GF Value™ of ₺30.63. GuruFocus considers Baydoner Restoranlari AS to be Modestly Overvalued.

Key valuation signals for IST:BYDNR:

  • Operating Income: ₺-210 Mil
  • GF Value™: ₺30.63 vs. price of ₺38.78 (26.6% above fair value)
  • GF Score™: 76/100 with 4 warning signs

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


Baydoner Restoranlari AS Business Description

Address Justice Mah. Anadolu Cad, No:41 Independent Section K:20, No:17 Megapol Tower, Bayrakli District, Izmir, TUR, 35530
Baydoner Restoranlari AS is a company engaged in restaurants business. The brands Baydoner, Bursa Ishakbey and Pide by Pide owned by the company operates in the food and beverage industry.
76GF Score

Get the complete analysis for IST:BYDNR

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

₺38.78
Price
₺30.63
GF Value