Solid State (LSE:SOLI) Operating Income: £6.9 Mil (TTM As of Mar. 2026)

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LSE:SOLI Solid State PLC LSE:SOLI
77 GF Score
Price £1.85
GF Value £2.31
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Solid State Operating Income?

Solid State LSE:SOLI -3.65% 77 Operating Income is £6.9 Mil as of Mar. 2026. GuruFocus rates LSE:SOLI with a GF Score™ of 77/100 and a GF Value™ of £2.31 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Solid State's Operating Income for the six months ended in Mar. 2026 was £2.4 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was £6.9 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Solid State's Operating Income for the six months ended in Mar. 2026 was £2.4 Mil. Solid State's Revenue for the six months ended in Mar. 2026 was £68.5 Mil. Therefore, Solid State's Operating Margin % for the quarter that ended in Mar. 2026 was 3.53%.

Warning Sign:

Solid State PLC operating margin has been in a 5-year decline. The average rate of decline per year is -15.5%.

Solid State's 5-Year average Growth Rate for Operating Margin % was -15.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Solid State's annualized ROC % for the quarter that ended in Mar. 2026 was 3.35%. Solid State's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 12.80%.


Solid State  (LSE:SOLI) Operating Income Explanation

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

Solid State'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: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=4.842 * ( 1 - 39.76% )/( (83.33 + 90.983)/ 2 )
=2.9168208/87.1565
=3.35 %

where

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

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

Solid State'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: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=5.186/( ( (11.153 + max(29.852, 0)) + (11.917 + max(28.105, 0)) )/ 2 )
=5.186/( ( 41.005 + 40.022 )/ 2 )
=5.186/40.5135
=12.80 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(27.923 + 26.441 + 1.817) - (19.659 + 0 + 6.67)
=29.852

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(17.09 + 30.502 + 5.322) - (9.663 + 0 + 15.146)
=28.105

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

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

Solid State'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 )
=2.421/68.491
=3.53 %

* 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.


Solid State Operating Income Related Terms


Solid State Operating Income Historical Data

* Premium members only.

The historical data trend for Solid State'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.

Solid State Operating Income Chart

Solid State Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.73 9.41 13.68 1.33 6.95

Solid State Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 6.74 1.83 -0.50 4.53 2.42
LSE:SOLI
77GF Score
Solid State PLC LSE:SOLI
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Solid State 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 semi-annually data reported by the company within the most recent 12 months, which was £6.9 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 £6.9 Mil mean?
Solid State (LSE:SOLI) has a Operating Income of £6.9 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Solid State and its competitors.
Is Solid State's Operating Income too high?
Solid State's current Operating Income is £6.9 Mil. Overall, Solid State has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Solid State's Operating Income compare to APH and GLW?
Solid State's Operating Income of £6.9 Mil can be compared against companies in the Hardware 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 Hardware company?
A good Operating Income depends on the Hardware 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 Solid State and its competitors. Solid State's current Operating Income is £6.9 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Solid State stock overvalued right now?
Based on GuruFocus' analysis, Solid State (LSE:SOLI) is currently considered Modestly Undervalued. The stock's GF Value™ is £2.31, compared to a current price of £1.85 — trading 19.9% below its estimated fair value. The current Operating Income is £6.9 Mil. Solid State's overall GF Score™ is 77/100 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 Solid State (LSE:SOLI), the current Operating Income is £6.9 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 Solid State (LSE:SOLI) Overvalued in 2026?

Based on GuruFocus' analysis, Solid State stock appears to be undervalued. The current stock price of £1.85 is trading 19.9% below its estimated GF Value™ of £2.31. GuruFocus considers Solid State to be Modestly Undervalued.

Key valuation signals for LSE:SOLI:

  • Operating Income: £6.9 Mil
  • GF Value™: £2.31 vs. price of £1.85 (19.9% below fair value)
  • GF Score™: 77/100 with 5 warning signs

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


Solid State Business Description

Other Exchanges OUY:Germany
Address Hedera Road, 2 Ravensbank Business Park, Redditch, Worcestershire, GBR, B98 9EY
Solid State PLC is engaged in the manufacturing as well as distribution of electronic components and materials. The company's operating segment includes divisions, which are Components and Systems. Geographically, it derives the majority of its revenue from the United Kingdom and has a presence in the Rest of Europe, Asia, North America, and the Rest of the World. The company generates revenue from products such as Computing, Communications, Power and Optoelectronics, and electronic components and modules.
77GF Score

Get the complete analysis for LSE:SOLI

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

£1.85
Price
£2.31
GF Value