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.
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.
AVI's Operating Income for the
six
months ended in Dec. 2025 was R2,194 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was R3,791 Mil.
Operating Margin % is calculated as Operating Income divided by its Revenue. AVI's Operating Income for the
six
months ended in Dec. 2025 was R2,194 Mil. AVI's Revenue for the
six
months ended in Dec. 2025 was R8,883 Mil. Therefore, AVI's Operating Margin % for the quarter that ended in Dec. 2025 was 24.69%.
Good Sign:
AVI Ltd operating margin is expanding. Margin expansion is usually a good sign.
Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
AVI's annualizedROC % for the quarter that ended in Dec. 2025 was 37.06%.
AVI's annualizedROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 59.82%.
* 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.
AVI Operating Income Related Terms
AVI Operating Income Historical Data
* Premium members only.
The historical data trend for AVI'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.
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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was R3,791 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.
AVI (JSE:AVI) has a Operating Income of R3,791 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on AVI and its competitors.
Is AVI's Operating Income too high?
AVI's current Operating Income is R3,791 Mil. Overall, AVI has a GF Score™ of 94/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does AVI's Operating Income compare to KHC and GIS?
AVI's Operating Income of R3,791 Mil can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Operating Income depends on the Consumer Packaged Goods 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 AVI and its competitors. AVI's current Operating Income is R3,791 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AVI stock overvalued right now?
Based on GuruFocus' analysis, AVI (JSE:AVI) is currently considered Fairly Valued. The stock's GF Value™ is R98.05, compared to a current price of R90.11 — trading 8.1% below its estimated fair value. The current Operating Income is R3,791 Mil. AVI's overall GF Score™ is 94/100 with 2 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 AVI (JSE:AVI), the current Operating Income is R3,791 Mil as of Dec. 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 AVI (JSE:AVI) Overvalued in 2026?
Based on GuruFocus' analysis, AVI stock appears to be undervalued.
The current stock price of R90.11 is trading 8.1% below its estimated GF Value™ of R98.05.
GuruFocus considers AVI to be Fairly Valued.
Key valuation signals for JSE:AVI:
Operating Income: R3,791 Mil
GF Value™: R98.05 vs. price of R90.11 (8.1% below fair value)
No single metric tells the full story. See the JSE:AVI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AVI Ltd owns and manages a portfolio of various brands, with various product categories such as hot beverages, biscuits and snacks, frozen food, personal care products, cosmetics, and fashion supplies. These brands share the group's IT, finance, human resources, logistics, marketing, and procurement services. Its reportable segments are: Food and Beverage brands (comprising Entyce Beverages, Snackworks, and I&J), Fashion brands (comprising its Personal Care and Footwear & Apparel brands), and Corporate. The majority of its revenue is generated from the Food and Beverage brands segment, which includes its brands offering tea, coffee, creamer, sweet and savoury biscuits, baked and fried potatoes, maize snacks, seafood, etc. Geographically, it generates maximum revenue from South Africa.
94GF Score
Get the complete analysis for JSE:AVI
Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
JSE:AVI has been successfully added to your 
