Dassault Aviation (MEX:AM) Operating Income: MXN13,404 Mil (TTM As of Dec. 2025)


MEX:AM Dassault Aviation SA MEX:AM
81 GF Score
Price MXN5,709.86
GF Value MXN7,419.70
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Dassault Aviation Operating Income?

Dassault Aviation MEX:AM 81 Operating Income is MXN13,404 Mil as of Dec. 2025. GuruFocus rates MEX:AM with a GF Score™ of 81/100 and a GF Value™ of MXN7,419.70 (Modestly Undervalued). The stock has 3 warning signs investors should review.

Dassault Aviation's Operating Income for the six months ended in Dec. 2025 was MXN9,371 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was MXN13,404 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Dassault Aviation's Operating Income for the six months ended in Dec. 2025 was MXN9,371 Mil. Dassault Aviation's Revenue for the six months ended in Dec. 2025 was MXN96,404 Mil. Therefore, Dassault Aviation's Operating Margin % for the quarter that ended in Dec. 2025 was 9.72%.

Good Sign:

Dassault Aviation SA operating margin is expanding. Margin expansion is usually a good sign.

Dassault Aviation's 5-Year average Growth Rate for Operating Margin % was 7.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Dassault Aviation's annualized ROC % for the quarter that ended in Dec. 2025 was 2.41%. Dassault Aviation's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 98.08%.


Dassault Aviation  (MEX:AM) Operating Income Explanation

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

Dassault Aviation'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 )
=18742.796 * ( 1 - 18.6% )/( (631965.591 + 632441.252)/ 2 )
=15256.635944/632203.4215
=2.41 %

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))
=697720.784 - 37903.375 - ( 207880.558 - max(0, 559612.359 - 587464.177+207880.558))
=631965.591

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))
=693547.622 - 30468.491 - ( 199013.481 - max(0, 549338.579 - 579976.458+199013.481))
=632441.252

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:

Dassault Aviation'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 )
=33426.338/( ( (34367.807 + max(-181405.204, 0)) + (33794.654 + max(-186986.537, 0)) )/ 2 )
=33426.338/( ( 34367.807 + 33794.654 )/ 2 )
=33426.338/34081.2305
=98.08 %

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)
=(35945.182 + 165630.004 + 175955.66) - (37903.375 + 0 + 521032.675)
=-181405.204

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(20273.491 + 157098.868 + 184371.579) - (30468.491 + 0 + 518261.984)
=-186986.537

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 %:

Dassault Aviation'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 )
=9371.398/96403.572
=9.72 %

* 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.


Dassault Aviation Operating Income Related Terms


Dassault Aviation Operating Income Historical Data

* Premium members only.

The historical data trend for Dassault Aviation'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.

Dassault Aviation Operating Income Chart

Dassault Aviation 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 12,500.56 12,371.02 6,279.75 11,810.97 13,286.52

Dassault Aviation 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 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 3,473.67 3,332.33 8,120.71 4,032.79 9,371.40
MEX:AM
81GF Score
Dassault Aviation SA MEX:AM
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Dassault Aviation 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 MXN13,404 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 MXN13,404 Mil mean?
Dassault Aviation (MEX:AM) has a Operating Income of MXN13,404 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Dassault Aviation and its competitors.
Is Dassault Aviation's Operating Income too high?
Dassault Aviation's current Operating Income is MXN13,404 Mil. Overall, Dassault Aviation has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Dassault Aviation's Operating Income compare to SPCX and GE?
Dassault Aviation's Operating Income of MXN13,404 Mil can be compared against companies in the Aerospace & Defense 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 Aerospace & Defense company?
A good Operating Income depends on the Aerospace & Defense 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 Dassault Aviation and its competitors. Dassault Aviation's current Operating Income is MXN13,404 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dassault Aviation stock overvalued right now?
Based on GuruFocus' analysis, Dassault Aviation (MEX:AM) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN7,419.70, compared to a current price of MXN5,709.86 — trading 23% below its estimated fair value. The current Operating Income is MXN13,404 Mil. Dassault Aviation's overall GF Score™ is 81/100 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 Dassault Aviation (MEX:AM), the current Operating Income is MXN13,404 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 Dassault Aviation (MEX:AM) Overvalued in 2026?

Based on GuruFocus' analysis, Dassault Aviation stock appears to be undervalued. The current stock price of MXN5,709.86 is trading 23% below its estimated GF Value™ of MXN7,419.70. GuruFocus considers Dassault Aviation to be Modestly Undervalued.

Key valuation signals for MEX:AM:

  • Operating Income: MXN13,404 Mil
  • GF Value™: MXN7,419.70 vs. price of MXN5,709.86 (23% below fair value)
  • GF Score™: 81/100 with 3 warning signs

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


Dassault Aviation Business Description

Address 78, quai Marcel-Dassault, Cedex 300, Saint-Cloud, FRA, 92552
Dassault Aviation, controlled by the French Dassault Group, designs, builds, and maintains military fighter jets and is one of the largest manufacturers of business jets. It holds a 26.6% stake in defense electronics group Thales, whose earnings contribution accounts for roughly half of Dassault's adjusted net income. In 2025, Dassault Aviation generated EUR 7.4 billion in revenue with over 15,000 employees. About 63% of revenue comes from defense aircraft and services, while Falcon business jets generate the remaining 37%.
81GF Score

Get the complete analysis for MEX:AM

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

MXN5,709.86
Price
MXN7,419.70
GF Value