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Terna SpA's Operating Income for the
three
months ended in Mar. 2026 was €450 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €1,808 Mil.
Operating Margin % is calculated as Operating Income divided by its Revenue. Terna SpA's Operating Income for the
three
months ended in Mar. 2026 was €450 Mil. Terna SpA's Revenue for the
three
months ended in Mar. 2026 was €989 Mil. Therefore, Terna SpA's Operating Margin % for the quarter that ended in Mar. 2026 was 45.49%.
Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
Terna SpA's annualizedROC % for the quarter that ended in Mar. 2026 was 4.98%.
Terna SpA's annualizedROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 8.26%.
Terna SpA (MIL:TRN) Operating Income Explanation
1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
Terna SpA's annualizedROC % for the quarter that ended in Mar. 2026 is calculated as:
* 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.
Terna SpA Operating Income Related Terms
Terna SpA Operating Income Historical Data
* Premium members only.
The historical data trend for Terna SpA'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.
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 €1,808 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.
Terna SpA (MIL:TRN) has a Operating Income of €1,808 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Terna SpA and its competitors.
Is Terna SpA's Operating Income too high?
Terna SpA's current Operating Income is €1,808 Mil. Overall, Terna SpA has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Terna SpA's Operating Income compare to NEE and SO?
Terna SpA's Operating Income of €1,808 Mil can be compared against companies in the Utilities - Regulated 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 Utilities - Regulated company?
A good Operating Income depends on the Utilities - Regulated 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 Terna SpA and its competitors. Terna SpA's current Operating Income is €1,808 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Terna SpA stock overvalued right now?
Based on GuruFocus' analysis, Terna SpA (MIL:TRN) is currently considered Fairly Valued. The stock's GF Value™ is €9.94, compared to a current price of €10.33 — trading 3.9% above its estimated fair value. The current Operating Income is €1,808 Mil. Terna SpA's overall GF Score™ is 84/100 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 Terna SpA (MIL:TRN), the current Operating Income is €1,808 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 Terna SpA (MIL:TRN) Overvalued in 2026?
Based on GuruFocus' analysis, Terna SpA stock appears to be overvalued.
The current stock price of €10.33 is trading 3.9% above its estimated GF Value™ of €9.94.
GuruFocus considers Terna SpA to be Fairly Valued.
Key valuation signals for MIL:TRN:
Operating Income: €1,808 Mil
GF Value™: €9.94 vs. price of €10.33 (3.9% above fair value)
No single metric tells the full story. See the MIL:TRN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Terna SpA is an electricity transmission system operator that owns virtually all of the Italian National Transmission Grid. With a monopoly under an Italian government license, Terna transmits and dispatches electricity throughout the country. It is also responsible for the planning, construction, and maintenance of the nation's electrical grid. Terna segments its operations into its Regulated Activities, Non-Regulated Activities, and International Activities. The company generates the vast majority of its revenue from charging transmission fees as a part of its Regulated Activities. Under its Non-Regulated Activities, Terna mainly produces and sells electricity transformers. The company has also made efforts to expand its operations into Italy's neighboring countries and North Africa.
84GF Score
Get the complete analysis for MIL:TRN
Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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