Adyen NV (LTS:0YP5) Operating Income: €1,096 Mil (TTM As of Dec. 2025)

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LTS:0YP5 Adyen NV LTS:0YP5
77 GF Score
Price €891.05
GF Value €1,635.44
Valuation Significantly Undervalued
! 1 Warning Sign
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What is Adyen NV Operating Income?

Adyen NV LTS:0YP5 +1.60% 77 Operating Income is €1,096 Mil as of Dec. 2025. GuruFocus rates LTS:0YP5 with a GF Score™ of 77/100 and a GF Value™ of €1,635.44 (Significantly Undervalued). The stock has 1 warning sign investors should review.

Adyen NV's Operating Income for the six months ended in Dec. 2025 was €621 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €1,096 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Adyen NV's Operating Income for the six months ended in Dec. 2025 was €621 Mil. Adyen NV's Revenue for the six months ended in Dec. 2025 was €1,411 Mil. Therefore, Adyen NV's Operating Margin % for the quarter that ended in Dec. 2025 was 43.97%.

Good Sign:

Adyen NV operating margin is expanding. Margin expansion is usually a good sign.

Adyen NV's 5-Year average Growth Rate for Operating Margin % was 43.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Adyen NV's annualized ROC % for the quarter that ended in Dec. 2025 was 137.07%. Adyen NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 340.93%.


Adyen NV  (LTS:0YP5) Operating Income Explanation

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

Adyen NV'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 )
=1241.01 * ( 1 - 23.53% )/( (603.233 + 781.427)/ 2 )
=949.000347/692.33
=137.07 %

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))
=13939.406 - 9014.745 - ( 12446.61 - max(0, 9070.815 - 13392.243+12446.61))
=603.233

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))
=12256.849 - 6572.977 - ( 10455.114 - max(0, 6787.358 - 11689.803+10455.114))
=781.427

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:

Adyen NV'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 )
=1539.38/( ( (434.068 + max(-8686.104, 0)) + (468.979 + max(-6045.255, 0)) )/ 2 )
=1539.38/( ( 434.068 + 468.979 )/ 2 )
=1539.38/451.5235
=340.93 %

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)
=(155.408 + 66.949 + 106.284) - (9014.745 + 0 + 0)
=-8686.104

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(217.007 + 76.959 + 379.04) - (6572.977 + 0 + 145.284)
=-6045.255

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 %:

Adyen NV'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 )
=620.505/1411.073
=43.97 %

* 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.


Adyen NV Operating Income Related Terms


Adyen NV Operating Income Historical Data

* Premium members only.

The historical data trend for Adyen NV'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.

Adyen NV Operating Income Chart

Adyen NV Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 594.73 664.73 681.84 872.51 1,096.27

Adyen NV Semi-Annual Data
Dec15 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 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 395.68 372.51 500.00 475.76 620.51
LTS:0YP5
77GF Score
Adyen NV LTS:0YP5
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Adyen NV 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 €1,096 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 €1,096 Mil mean?
Adyen NV (LTS:0YP5) has a Operating Income of €1,096 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Adyen NV and its competitors.
Is Adyen NV's Operating Income too high?
Adyen NV's current Operating Income is €1,096 Mil. Overall, Adyen NV has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Adyen NV's Operating Income compare to MSFT and ORCL?
Adyen NV's Operating Income of €1,096 Mil can be compared against companies in the Software 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 Software company?
A good Operating Income depends on the Software 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 Adyen NV and its competitors. Adyen NV's current Operating Income is €1,096 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adyen NV stock overvalued right now?
Based on GuruFocus' analysis, Adyen NV (LTS:0YP5) is currently considered Significantly Undervalued. The stock's GF Value™ is €1,635.44, compared to a current price of €891.05 — trading 45.5% below its estimated fair value. The current Operating Income is €1,096 Mil. Adyen NV's overall GF Score™ is 77/100 with 1 warning sign 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 Adyen NV (LTS:0YP5), the current Operating Income is €1,096 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 Adyen NV (LTS:0YP5) Overvalued in 2026?

Based on GuruFocus' analysis, Adyen NV stock appears to be undervalued. The current stock price of €891.05 is trading 45.5% below its estimated GF Value™ of €1,635.44. GuruFocus considers Adyen NV to be Significantly Undervalued.

Key valuation signals for LTS:0YP5:

  • Operating Income: €1,096 Mil
  • GF Value™: €1,635.44 vs. price of €891.05 (45.5% below fair value)
  • GF Score™: 77/100 with 1 warning sign

No single metric tells the full story. See the LTS:0YP5 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Adyen NV Business Description

Address Simon Carmiggeltstraat 6-50, Amsterdam, NLD, 1011 DJ
Adyen is a payment company that provides merchants with a single platform to accept e-commerce, mobile, and point-of-sale payments in multiple countries using various payment schemes and methodologies. Adyen started out providing only gateway and payment processing services to merchants but soon expanded into merchant acquiring services as well. Adyen obtained a banking license to improve settlement of merchant accounts.
77GF Score

Get the complete analysis for LTS:0YP5

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

€891.05
Price
€1,635.44
GF Value