Muehlbauer Holding AG (LTS:0O2Z) Operating Income: €71.9 Mil (TTM As of Dec. 2025)

What is Muehlbauer Holding AG Operating Income?

Muehlbauer Holding AG LTS:0O2Z 77 Operating Income is €71.9 Mil as of Dec. 2025. GuruFocus rates LTS:0O2Z with a GF Score™ of 77/100 and a GF Value™ of €59.26 (Significantly Undervalued). The stock has 3 warning signs investors should review.

Muehlbauer Holding AG's Operating Income for the six months ended in Dec. 2025 was €60.3 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €71.9 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Muehlbauer Holding AG's Operating Income for the six months ended in Dec. 2025 was €60.3 Mil. Muehlbauer Holding AG's Revenue for the six months ended in Dec. 2025 was €289.0 Mil. Therefore, Muehlbauer Holding AG's Operating Margin % for the quarter that ended in Dec. 2025 was 20.85%.

Warning Sign:

Muehlbauer Holding AG operating margin has been in a 5-year decline. The average rate of decline per year is -10%.

Muehlbauer Holding AG's 5-Year average Growth Rate for Operating Margin % was -10.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Muehlbauer Holding AG's annualized ROC % for the quarter that ended in Dec. 2025 was 15.14%. Muehlbauer Holding AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 36.84%.

Muehlbauer Holding AG (LTS:0O2Z) Operating Income Explanation

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

Muehlbauer Holding AG'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 )
=	120.548 * ( 1 - 54.06% )	/	( (300.245	+	431.101)	/ 2 )
=	55.3797512	/	365.673
=	15.14 %

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	))
=	574.283	-	204.003	-	( 83.708	-	max(0, 315.432	-	385.467	+	83.708	))
=	300.245

	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	))
=	539.09	-	36.515	-	( 71.474	-	max(0, 159.707	-	358.574	+	71.474	))
=	431.101

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:

Muehlbauer Holding AG'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 )
=	82.776	/	( ( (162.816 + max(-16.667, 0))	+	(162.198 + max(124.37, 0)) )	/	2 )
=	82.776	/	( ( 162.816	+	286.568 )	/	2 )
=	82.776	/	224.692
=	36.84 %

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)
=	(61.583	+	237.183	+	-0.00099999999997635)	-	(204.003	+	0	+	111.429)
=	-16.667

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(55.043	+	208.887	+	20.147)	-	(36.515	+	0	+	123.192)
=	124.37

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 %:

Muehlbauer Holding AG'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 )
	=	60.274	/	289.027
	=	20.85 %

* 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.

Muehlbauer Holding AG Operating Income Related Terms

Muehlbauer Holding AG Operating Income Historical Data

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The historical data trend for Muehlbauer Holding AG's Operating Income can be seen below:

Muehlbauer Holding AG Operating Income Chart

Muehlbauer Holding AG Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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81.34

10.33

77.43

28.20

71.88

Muehlbauer Holding AG Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Operating Income	Get a 7-Day Free Trial															50.15	6.40	21.79	11.61	60.27

77GF Score

Muehlbauer Holding AG LTS:0O2Z

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Muehlbauer Holding AG 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 €71.9 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of €71.9 Mil mean?

Muehlbauer Holding AG (LTS:0O2Z) has a Operating Income of €71.9 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Muehlbauer Holding AG and its competitors.

Is Muehlbauer Holding AG's Operating Income too high?

Muehlbauer Holding AG's current Operating Income is €71.9 Mil. Overall, Muehlbauer Holding AG has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Muehlbauer Holding AG's Operating Income compare to DELL and SNDK?

Muehlbauer Holding AG's Operating Income of €71.9 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 Muehlbauer Holding AG and its competitors. Muehlbauer Holding AG's current Operating Income is €71.9 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Muehlbauer Holding AG stock overvalued right now?

Based on GuruFocus' analysis, Muehlbauer Holding AG (LTS:0O2Z) is currently considered Significantly Undervalued. The stock's GF Value™ is €59.26, compared to a current price of €38.80 — trading 34.5% below its estimated fair value. The current Operating Income is €71.9 Mil. Muehlbauer Holding AG's overall GF Score™ is 77/100 with 3 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 Muehlbauer Holding AG (LTS:0O2Z), the current Operating Income is €71.9 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 Muehlbauer Holding AG (LTS:0O2Z) Overvalued in 2026?

Based on GuruFocus' analysis, Muehlbauer Holding AG stock appears to be undervalued. The current stock price of €38.80 is trading 34.5% below its estimated GF Value™ of €59.26. GuruFocus considers Muehlbauer Holding AG to be Significantly Undervalued.

Key valuation signals for LTS:0O2Z:

Operating Income: €71.9 Mil
GF Value™: €59.26 vs. price of €38.80 (34.5% below fair value)
GF Score™: 77/100 with 3 warning signs

No single metric tells the full story. See the LTS:0O2Z stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Muehlbauer Holding AG Business Description

Industry Technology Hardware

Comparable Companies FRA:HYI HAM:MT3 DELL SNDK ANET STX WDC SHSE:688041 SHSE:688795 TPE:2382 SZSE:002415 HKSE:00992 SZSE:301308 TPE:6669 SMCI IONQ P HPQ TSE:7751 SHSE:603019

Other Exchanges MUB:Germany

Address Josef Muhlbauer Platz 1, Roding, DEU, 93426

Website https://www.muehlbauer.de

Muehlbauer Holding AG is a German-based technology solutions provider with operations spread across multiple continents. Its business is segregated into three divisions; Precision Parts, Production Equipment and Government Solutions. The Precision Parts segment is associated with precision engineering and surface engineering. The Productions Equipment segment offers die sorting, smart cards, flexible solar technology and RFID/Smart Label technologies and the Government Solutions segment focuses on Identity document (ID) card solutions, document verification solutions, productions facility solutions, border management solutions and e-government solutions.

77GF Score

Get the complete analysis for LTS:0O2Z

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

€38.80

Price

€59.26

GF Value

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