MICLF (Mycronic AB) Operating Income: $221.5 Mil (TTM As of Mar. 2026)

What is Mycronic AB Operating Income?

Mycronic AB MICLF 87 Operating Income is $221.5 Mil as of Mar. 2026. GuruFocus rates MICLF with a GF Score™ of 87/100 and a GF Value™ of $22.46 (Significantly Overvalued). The stock has 4 warning signs investors should review.

Mycronic AB's Operating Income for the three months ended in Mar. 2026 was $96.5 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $221.5 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Mycronic AB's Operating Income for the three months ended in Mar. 2026 was $96.5 Mil. Mycronic AB's Revenue for the three months ended in Mar. 2026 was $268.6 Mil. Therefore, Mycronic AB's Operating Margin % for the quarter that ended in Mar. 2026 was 35.92%.

Good Sign:

Mycronic AB operating margin is expanding. Margin expansion is usually a good sign.

Mycronic AB's 5-Year average Growth Rate for Operating Margin % was 3.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mycronic AB's annualized ROC % for the quarter that ended in Mar. 2026 was 33.51%. Mycronic AB's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 212.39%.

Mycronic AB (OTCPK:MICLF) Operating Income Explanation

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

Mycronic AB'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: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	385.952 * ( 1 - 22.2% )	/	( (856.727	+	935.581)	/ 2 )
=	300.270656	/	896.154
=	33.51 %

where

	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	))
=	1175.23	-	68.543	-	( 249.96	-	max(0, 301.071	-	693.926	+	249.96	))
=	856.727

	Invested Capital		(Q: Mar. 2026 )
=	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	))
=	1281.179	-	53.45	-	( 292.148	-	max(0, 320.053	-	751.728	+	292.148	))
=	935.581

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

Mycronic AB'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: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	385.952	/	( ( (74.999 + max(99.639, 0))	+	(88.117 + max(100.674, 0)) )	/	2 )
=	385.952	/	( ( 174.638	+	188.791 )	/	2 )
=	385.952	/	181.7145
=	212.39 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(143.756	+	231.344	+	15.28)	-	(68.543	+	0	+	222.198)
=	99.639

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(164.534	+	242.24	+	-1.1368683772162E-13)	-	(53.45	+	0	+	252.65)
=	100.674

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

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

Mycronic AB'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 )
	=	96.488	/	268.643
	=	35.92 %

* 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.

Mycronic AB Operating Income Related Terms

Mycronic AB Operating Income Historical Data

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The historical data trend for Mycronic AB's Operating Income can be seen below:

Mycronic AB Operating Income Chart

Mycronic AB Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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112.33

86.24

121.96

183.34

217.03

Mycronic AB Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Operating Income	Get a 7-Day Free Trial															79.64	60.22	27.95	36.80	96.49

87GF Score

Mycronic AB MICLF

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

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Mycronic AB 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 quarterly data reported by the company within the most recent 12 months, which was $221.5 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $221.5 Mil mean?

Mycronic AB (MICLF) has a Operating Income of $221.5 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Mycronic AB and its competitors.

Is Mycronic AB's Operating Income too high?

Mycronic AB's current Operating Income is $221.5 Mil. Overall, Mycronic AB has a GF Score™ of 87/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Mycronic AB's Operating Income compare to GEV and ETN?

Mycronic AB's Operating Income of $221.5 Mil can be compared against companies in the Industrial Products 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 Industrial Products company?

A good Operating Income depends on the Industrial Products 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 Mycronic AB and its competitors. Mycronic AB's current Operating Income is $221.5 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Mycronic AB stock overvalued right now?

Based on GuruFocus' analysis, Mycronic AB (MICLF) is currently considered Significantly Overvalued. The stock's GF Value™ is $22.46, compared to a current price of $32.50 — trading 44.7% above its estimated fair value. The current Operating Income is $221.5 Mil. Mycronic AB's overall GF Score™ is 87/100 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 Mycronic AB (MICLF), the current Operating Income is $221.5 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 Mycronic AB (MICLF) Overvalued in 2026?

Based on GuruFocus' analysis, Mycronic AB stock appears to be overvalued. The current stock price of $32.50 is trading 44.7% above its estimated GF Value™ of $22.46. GuruFocus considers Mycronic AB to be Significantly Overvalued.

Key valuation signals for MICLF:

Operating Income: $221.5 Mil
GF Value™: $22.46 vs. price of $32.50 (44.7% above fair value)
GF Score™: 87/100 with 4 warning signs

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

Mycronic AB Business Description

Industry Industrials Industrial Products

Comparable Companies OSTO:TREL B OSTO:BEIA B OSTO:ALIG OSTO:EPRO B OSTO:NMAN OSTO:XANO B OSTO:SALT B OSTO:BERNER B OSTO:CCC OSTO:SINT GEV XTER:SIE XPAR:SU ETN XTER:ENR PH CMI OSTO:ATCO A EMR ITW

Other Exchanges MYCR:Sweden 1MYCR:Italy MYCRs:UK 0MQG:UK MLT0:Germany

Address Nytorpsvagen 9, P.O. Box 3141, Taby, Stockholm, SWE, 183 03

Website https://www.mycronic.com

Mycronic AB develops solutions for electronics production. It operates in four segments: Pattern Generators, which develops, manufactures, & markets mask writers & measuring machines for the production of photomasks for displays; The PCB Assembly Solutions division develops, manufactures, and markets flexible PCB assembly solutions, including jet printing, stencil printing, 3D inspection, component placement, and automated storage solutions. The High Volume division develops, manufactures, & markets equipment for dispensing and conformal coating of circuit boards, with a focus on high-volume markets in Asia. The Global Technologies division's offering includes production solutions with high levels of differentiation. The majority of its revenue is generated from the PCB Generators segment.

87GF Score

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

$32.50

Price

$22.46

GF Value

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