Tan Delta Systems (LSE:TAND) Operating Income: £-1.67 Mil (TTM As of Dec. 2025)

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LSE:TAND Tan Delta Systems PLC LSE:TAND
23 GF Score
Price £0.28
GF Value £0.18
Valuation Significantly Overvalued
! 4 Warning Signs
View Full Analysis

What is Tan Delta Systems Operating Income?

Tan Delta Systems LSE:TAND 23 Operating Income is £-1.67 Mil as of Dec. 2025. GuruFocus rates LSE:TAND with a GF Score™ of 23/100 and a GF Value™ of £0.18 (Significantly Overvalued). The stock has 4 warning signs investors should review.

Tan Delta Systems's Operating Income for the six months ended in Dec. 2025 was £-0.83 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was £-1.67 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Tan Delta Systems's Operating Income for the six months ended in Dec. 2025 was £-0.83 Mil. Tan Delta Systems's Revenue for the six months ended in Dec. 2025 was £0.70 Mil. Therefore, Tan Delta Systems's Operating Margin % for the quarter that ended in Dec. 2025 was -119.83%.

Tan Delta Systems'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. Tan Delta Systems's annualized ROC % for the quarter that ended in Dec. 2025 was -167.98%. Tan Delta Systems's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -197.31%.

Tan Delta Systems  (LSE:TAND) Operating Income Explanation

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

Tan Delta Systems's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=-1.668 * ( 1 - 1.61% )/( (1.065 + 0.889)/ 2 )
=-1.6411452/0.977
=-167.98 %

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))
=3.235 - 0.134 - ( 2.036 - max(0, 0.198 - 3.027+2.036))
=1.065

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))
=2.589 - 0.21 - ( 1.49 - max(0, 0.32 - 2.426+1.49))
=0.889

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

Tan Delta Systems's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-1.614/( ( (0.123 + max(0.798, 0)) + (0.105 + max(0.61, 0)) )/ 2 )
=-1.614/( ( 0.921 + 0.715 )/ 2 )
=-1.614/0.818
=-197.31 %

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)
=(0.215 + 0.694 + 0.058) - (0.134 + 0 + 0.035)
=0.798

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.266 + 0.554 + 0.081) - (0.21 + 0 + 0.081)
=0.61

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

Tan Delta Systems's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=-0.834/0.696
=-119.83 %

* 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.

Tan Delta Systems Operating Income Related Terms

Tan Delta Systems Operating Income Historical Data

* Premium members only.

The historical data trend for Tan Delta Systems'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.

Tan Delta Systems Operating Income Chart

Tan Delta Systems Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 0.01 0.28 -1.08 -1.34 -1.67

Tan Delta Systems Semi-Annual Data
Dec20 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.26 -0.62 -0.72 -0.83 -0.83
LSE:TAND
23GF Score
Tan Delta Systems PLC LSE:TAND
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Tan Delta Systems 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was £-1.67 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 £-1.67 Mil mean?
Tan Delta Systems (LSE:TAND) has a Operating Income of £-1.67 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Tan Delta Systems and its competitors.
Is Tan Delta Systems' Operating Income too high?
Tan Delta Systems' current Operating Income is £-1.67 Mil. Overall, Tan Delta Systems has a GF Score™ of 23/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tan Delta Systems' Operating Income compare to SLB and BKR?
Tan Delta Systems' Operating Income of £-1.67 Mil can be compared against companies in the Oil & Gas 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 an Oil & Gas company?
A good Operating Income depends on the Oil & Gas 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 Tan Delta Systems and its competitors. Tan Delta Systems's current Operating Income is £-1.67 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tan Delta Systems stock overvalued right now?
Based on GuruFocus' analysis, Tan Delta Systems (LSE:TAND) is currently considered Significantly Overvalued. The stock's GF Value™ is £0.18, compared to a current price of £0.28 — trading 55.6% above its estimated fair value. The current Operating Income is £-1.67 Mil. Tan Delta Systems' overall GF Score™ is 23/100 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 Tan Delta Systems (LSE:TAND), the current Operating Income is £-1.67 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 Tan Delta Systems (LSE:TAND) Overvalued in 2026?

Based on GuruFocus' analysis, Tan Delta Systems stock appears to be overvalued. The current stock price of £0.28 is trading 55.6% above its estimated GF Value™ of £0.18. GuruFocus considers Tan Delta Systems to be Significantly Overvalued.

Key valuation signals for LSE:TAND:

  • Operating Income: £-1.67 Mil
  • GF Value™: £0.18 vs. price of £0.28 (55.6% above fair value)
  • GF Score™: 23/100 with 4 warning signs

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

Tan Delta Systems Business Description

Industry EnergyOil & Gas
Other Exchanges TB4:Germany
Address Church Lane, 1 Carrera Court, Dinnington, Sheffield, GBR, S25 2RG
Tan Delta Systems PLC develops real-time oil analysis and analytic technologies and products with capabilities that enable equipment operators to significantly reduce operating costs, improve efficiency, and reduce carbon footprint. It develops all its core technologies and products in-house, with manufacturing undertaken by its carefully selected manufacturing partners with whom its dedicated production QA department works. Its products include Sensors, Kits, Display solutions, Gateways & modems, and Accessories & services. Geographically, its solutions are in use across the UK, Europe, North and South America, Asia, and the Middle East.
23GF Score

Get the complete analysis for LSE:TAND

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

£0.28
Price
£0.18
GF Value