Turk Ilac ve Serumnayi (IST:TRILC) Operating Income: ₺532 Mil (TTM As of Sep. 2025)

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IST:TRILC Turk Ilac ve Serum Sanayi IST:TRILC
61 GF Score
Price ₺1.38
GF Value ₺3.64
Valuation Possible Value Trap
! 11 Warning Signs
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What is Turk Ilac ve Serumnayi Operating Income?

Turk Ilac ve Serumnayi IST:TRILC +7.81% 61 Operating Income is ₺532 Mil as of Sep. 2025. GuruFocus rates IST:TRILC with a GF Score™ of 61/100 and a GF Value™ of ₺3.64 (Possible Value Trap). The stock has 11 warning signs investors should review.

Turk Ilac ve Serumnayi's Operating Income for the three months ended in Sep. 2025 was ₺299 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2025 was ₺532 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Turk Ilac ve Serumnayi's Operating Income for the three months ended in Sep. 2025 was ₺299 Mil. Turk Ilac ve Serumnayi's Revenue for the three months ended in Sep. 2025 was ₺1,172 Mil. Therefore, Turk Ilac ve Serumnayi's Operating Margin % for the quarter that ended in Sep. 2025 was 25.47%.

Warning Sign:

Turk Ilac ve Serum Sanayi operating margin has been in a 5-year decline. The average rate of decline per year is -13.20%.

Turk Ilac ve Serumnayi's 5-Year average Growth Rate for Operating Margin % was -13.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Turk Ilac ve Serumnayi's annualized ROC % for the quarter that ended in Sep. 2025 was 14.68%. Turk Ilac ve Serumnayi's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2025 was 58.23%.


Turk Ilac ve Serumnayi  (IST:TRILC) Operating Income Explanation

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

Turk Ilac ve Serumnayi's annualized ROC % for the quarter that ended in Sep. 2025 is calculated as:

ROC % (Q: Sep. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Sep. 2025 ))/ count )
=1194.22 * ( 1 - 42.54% )/( (4248.886 + 5101.92)/ 2 )
=686.198812/4675.403
=14.68 %

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))
=5105.475 - 838.91 - ( 17.679 - max(0, 2460.301 - 2866.665+17.679))
=4248.886

Invested Capital(Q: Sep. 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))
=6124.193 - 1009.854 - ( 12.419 - max(0, 3173.869 - 3676.42+12.419))
=5101.92

Note: The Operating Income data used here is four times the quarterly (Sep. 2025) data.

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

Turk Ilac ve Serumnayi's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Sep. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Sep. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1933.82/( ( (1946.365 + max(1207.323, 0)) + (2133.682 + max(1354.535, 0)) )/ 2 )
=1933.82/( ( 3153.688 + 3488.217 )/ 2 )
=1933.82/3320.9525
=58.23 %

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)
=(1276.569 + 638.808 + 275.829) - (838.91 + 0 + 144.973)
=1207.323

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1381.381 + 774.241 + 388.263) - (1009.854 + 0 + 179.496)
=1354.535

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2025) EBIT data.

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

Turk Ilac ve Serumnayi's Operating Margin % for the quarter that ended in Sep. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Sep. 2025 )/Revenue (Q: Sep. 2025 )
=298.555/1172.352
=25.47 %

* 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.


Turk Ilac ve Serumnayi Operating Income Related Terms


Turk Ilac ve Serumnayi Operating Income Historical Data

* Premium members only.

The historical data trend for Turk Ilac ve Serumnayi'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.

Turk Ilac ve Serumnayi Operating Income Chart

Turk Ilac ve Serumnayi Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24
Operating Income
71.44 74.55 101.72 403.87 542.03

Turk Ilac ve Serumnayi Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25
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 289.35 4.21 75.94 153.67 298.56
IST:TRILC
61GF Score
Turk Ilac ve Serum Sanayi IST:TRILC
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Turk Ilac ve Serumnayi 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 Sep. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was ₺532 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 ₺532 Mil mean?
Turk Ilac ve Serumnayi (IST:TRILC) has a Operating Income of ₺532 Mil as of Sep. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Turk Ilac ve Serumnayi and its competitors.
Is Turk Ilac ve Serumnayi's Operating Income too high?
Turk Ilac ve Serumnayi's current Operating Income is ₺532 Mil. Overall, Turk Ilac ve Serumnayi has a GF Score™ of 61/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Turk Ilac ve Serumnayi's Operating Income compare to ZTS and UTHR?
Turk Ilac ve Serumnayi's Operating Income of ₺532 Mil can be compared against companies in the Drug Manufacturers 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 Drug Manufacturers company?
A good Operating Income depends on the Drug Manufacturers 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 Turk Ilac ve Serumnayi and its competitors. Turk Ilac ve Serumnayi's current Operating Income is ₺532 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Turk Ilac ve Serumnayi stock overvalued right now?
Based on GuruFocus' analysis, Turk Ilac ve Serumnayi (IST:TRILC) is currently considered Possible Value Trap. The stock's GF Value™ is ₺3.64, compared to a current price of ₺1.38 — trading 62.1% below its estimated fair value. The current Operating Income is ₺532 Mil. Turk Ilac ve Serumnayi's overall GF Score™ is 61/100 with 11 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 Turk Ilac ve Serumnayi (IST:TRILC), the current Operating Income is ₺532 Mil as of Sep. 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 Turk Ilac ve Serumnayi (IST:TRILC) Overvalued in 2026?

Based on GuruFocus' analysis, Turk Ilac ve Serumnayi stock appears to be undervalued. The current stock price of ₺1.38 is trading 62.1% below its estimated GF Value™ of ₺3.64. GuruFocus considers Turk Ilac ve Serumnayi to be Possible Value Trap.

Key valuation signals for IST:TRILC:

  • Operating Income: ₺532 Mil
  • GF Value™: ₺3.64 vs. price of ₺1.38 (62.1% below fair value)
  • GF Score™: 61/100 with 11 warning signs

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


Turk Ilac ve Serumnayi Business Description

Address Bugduz Mahalle Enver Pasa Cadde, No: 8 Akyurt, Ankara, TUR, TR 06750
Turk Ilac ve Serum Sanayi is engaged in the production of human pharmaceuticals and vaccines.
61GF Score

Get the complete analysis for IST:TRILC

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

₺1.38
Price
₺3.64
GF Value