Celebi Hava Servisi AS (IST:CLEBI) Operating Income: ₺3,838 Mil (TTM As of Mar. 2026)

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IST:CLEBI Celebi Hava Servisi AS IST:CLEBI
72 GF Score
Price ₺1,498.00
GF Value ₺2,300.32
Valuation Significantly Undervalued
! 5 Warning Signs
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What is Celebi Hava Servisi AS Operating Income?

Celebi Hava Servisi AS IST:CLEBI +0.54% 72 Operating Income is ₺3,838 Mil as of Mar. 2026. GuruFocus rates IST:CLEBI with a GF Score™ of 72/100 and a GF Value™ of ₺2,300.32 (Significantly Undervalued). The stock has 5 warning signs investors should review.

Celebi Hava Servisi AS's Operating Income for the three months ended in Mar. 2026 was ₺378 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ₺3,838 Mil.

Warning Sign:

Celebi Hava Servisi AS has recorded a loss in operating income at least once over the past 3 years.

Operating Margin % is calculated as Operating Income divided by its Revenue. Celebi Hava Servisi AS's Operating Income for the three months ended in Mar. 2026 was ₺378 Mil. Celebi Hava Servisi AS's Revenue for the three months ended in Mar. 2026 was ₺4,583 Mil. Therefore, Celebi Hava Servisi AS's Operating Margin % for the quarter that ended in Mar. 2026 was 8.24%.

Good Sign:

Celebi Hava Servisi AS operating margin is expanding. Margin expansion is usually a good sign.

Celebi Hava Servisi AS's 5-Year average Growth Rate for Operating Margin % was 13.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Celebi Hava Servisi AS's annualized ROC % for the quarter that ended in Mar. 2026 was 6.77%. Celebi Hava Servisi AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 15.70%.


Celebi Hava Servisi AS  (IST:CLEBI) Operating Income Explanation

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

Celebi Hava Servisi 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 )
=1510.136 * ( 1 - 11.46% )/( (19448.688 + 20072.555)/ 2 )
=1337.0744144/19760.6215
=6.77 %

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))
=24454.235 - 2317.426 - ( 3810.906 - max(0, 7344.954 - 10033.075+3810.906))
=19448.688

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))
=24991.468 - 2775.629 - ( 4549.061 - max(0, 8221.465 - 10364.749+4549.061))
=20072.555

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

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

Celebi Hava Servisi 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 )
=1908.38/( ( (10531.056 + max(1968.531, 0)) + (10501.304 + max(1314.382, 0)) )/ 2 )
=1908.38/( ( 12499.587 + 11815.686 )/ 2 )
=1908.38/12157.6365
=15.70 %

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)
=(2106.372 + 229.824 + 3530.906) - (2317.426 + 0 + 1581.145)
=1968.531

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1810.967 + 212.111 + 3411.393) - (2775.629 + 0 + 1344.46)
=1314.382

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 %:

Celebi Hava Servisi 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 )
=377.534/4582.865
=8.24 %

* 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.


Celebi Hava Servisi AS Operating Income Related Terms


Celebi Hava Servisi AS Operating Income Historical Data

* Premium members only.

The historical data trend for Celebi Hava Servisi 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.

Celebi Hava Servisi AS Operating Income Chart

Celebi Hava Servisi AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 528.79 1,566.21 2,522.10 3,018.10 4,149.67

Celebi Hava Servisi AS 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 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 364.19 801.14 2,241.48 417.85 377.53
IST:CLEBI
72GF Score
Celebi Hava Servisi AS IST:CLEBI
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Celebi Hava Servisi 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 ₺3,838 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 ₺3,838 Mil mean?
Celebi Hava Servisi AS (IST:CLEBI) has a Operating Income of ₺3,838 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Celebi Hava Servisi AS and its competitors.
Is Celebi Hava Servisi AS's Operating Income too high?
Celebi Hava Servisi AS's current Operating Income is ₺3,838 Mil. Overall, Celebi Hava Servisi AS has a GF Score™ of 72/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Celebi Hava Servisi AS's Operating Income compare to JOBY and CAAP?
Celebi Hava Servisi AS's Operating Income of ₺3,838 Mil can be compared against companies in the Transportation 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 Transportation company?
A good Operating Income depends on the Transportation 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 Celebi Hava Servisi AS and its competitors. Celebi Hava Servisi AS's current Operating Income is ₺3,838 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Celebi Hava Servisi AS stock overvalued right now?
Based on GuruFocus' analysis, Celebi Hava Servisi AS (IST:CLEBI) is currently considered Significantly Undervalued. The stock's GF Value™ is ₺2,300.32, compared to a current price of ₺1,498.00 — trading 34.9% below its estimated fair value. The current Operating Income is ₺3,838 Mil. Celebi Hava Servisi AS's overall GF Score™ is 72/100 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 Celebi Hava Servisi AS (IST:CLEBI), the current Operating Income is ₺3,838 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 Celebi Hava Servisi AS (IST:CLEBI) Overvalued in 2026?

Based on GuruFocus' analysis, Celebi Hava Servisi AS stock appears to be undervalued. The current stock price of ₺1,498.00 is trading 34.9% below its estimated GF Value™ of ₺2,300.32. GuruFocus considers Celebi Hava Servisi AS to be Significantly Undervalued.

Key valuation signals for IST:CLEBI:

  • Operating Income: ₺3,838 Mil
  • GF Value™: ₺2,300.32 vs. price of ₺1,498.00 (34.9% below fair value)
  • GF Score™: 72/100 with 5 warning signs

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


Celebi Hava Servisi AS Business Description

Address Tayakadin Mahallesi, Nuri Demirag Caddesi No: 39, Arnavutkoy, Istanbul, TUR, 34768
Celebi Hava Servisi AS is a supplier of ground handling services to the aviation industry. The company's primary operating segment includes Ground Handling Services and Cargo and Warehouse Services. Other services include Bridge operation, Lounge, General Aviation and Platinum. It generates maximum revenue from the Ground Handling Services segment. Geographically, it operates in Turkey, Hungary, India, Spain, Tanzania and Germany.
72GF Score

Get the complete analysis for IST:CLEBI

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

₺1,498.00
Price
₺2,300.32
GF Value