MONRY (Moncler SpA) Operating Income: $1,066 Mil (TTM As of Dec. 2025)

What is Moncler SpA Operating Income?

Moncler SpA MONRY +0.50% 99 Operating Income is $1,066 Mil as of Dec. 2025. GuruFocus rates MONRY with a GF Score™ of 99/100 and a GF Value™ of $68.04 (Modestly Undervalued). The stock has 2 warning signs investors should review.

Moncler SpA's Operating Income for the six months ended in Dec. 2025 was $806 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $1,066 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Moncler SpA's Operating Income for the six months ended in Dec. 2025 was $806 Mil. Moncler SpA's Revenue for the six months ended in Dec. 2025 was $2,232 Mil. Therefore, Moncler SpA's Operating Margin % for the quarter that ended in Dec. 2025 was 36.12%.

Good Sign:

Moncler SpA operating margin is expanding. Margin expansion is usually a good sign.

Moncler SpA's 5-Year average Growth Rate for Operating Margin % was 2.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Moncler SpA's annualized ROC % for the quarter that ended in Dec. 2025 was 26.13%. Moncler SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 87.07%.

Moncler SpA (OTCPK:MONRY) Operating Income Explanation

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

Moncler SpA'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 )
=	1612.658 * ( 1 - 29.25% )	/	( (4119.56	+	4613)	/ 2 )
=	1140.955535	/	4366.28
=	26.13 %

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	))
=	5907.693	-	681.11	-	( 1107.023	-	max(0, 920.89	-	2051.759	+	1107.023	))
=	4119.56

	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	))
=	6978.342	-	906.001	-	( 1459.341	-	max(0, 1147.265	-	2778.266	+	1459.341	))
=	4613

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:

Moncler SpA'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 )
=	1621.182	/	( ( (1468.367 + max(172.65, 0))	+	(1754.543 + max(328.243, 0)) )	/	2 )
=	1621.182	/	( ( 1641.017	+	2082.786 )	/	2 )
=	1621.182	/	1861.9015
=	87.07 %

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)
=	(156.949	+	646.249	+	72.563)	-	(681.11	+	0	+	22.001)
=	172.65

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(342.076	+	630.945	+	280.042)	-	(906.001	+	0	+	18.819)
=	328.243

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 %:

Moncler SpA'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 )
	=	806.329	/	2232.392
	=	36.12 %

* 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.

Moncler SpA Operating Income Related Terms

Moncler SpA Operating Income Historical Data

* Premium members only.

The historical data trend for Moncler SpA's Operating Income can be seen below:

Moncler SpA Operating Income Chart

Moncler SpA Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

Get a 7-Day Free Trial

654.49

820.50

974.74

951.65

1,069.50

Moncler SpA 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															737.24	278.42	680.81	259.23	806.33

99GF Score

Moncler SpA MONRY

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

View Full Analysis

Moncler SpA 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 $1,066 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $1,066 Mil mean?

Moncler SpA (MONRY) has a Operating Income of $1,066 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Moncler SpA and its competitors.

Is Moncler SpA's Operating Income too high?

Moncler SpA's current Operating Income is $1,066 Mil. Overall, Moncler SpA has a GF Score™ of 99/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Moncler SpA's Operating Income compare to RL and LEVI?

Moncler SpA's Operating Income of $1,066 Mil can be compared against companies in the Manufacturing - Apparel & Accessories 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 Manufacturing - Apparel & Accessories company?

A good Operating Income depends on the Manufacturing - Apparel & Accessories 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 Moncler SpA and its competitors. Moncler SpA's current Operating Income is $1,066 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Moncler SpA stock overvalued right now?

Based on GuruFocus' analysis, Moncler SpA (MONRY) is currently considered Modestly Undervalued. The stock's GF Value™ is $68.04, compared to a current price of $58.46 — trading 14.1% below its estimated fair value. The current Operating Income is $1,066 Mil. Moncler SpA's overall GF Score™ is 99/100 with 2 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 Moncler SpA (MONRY), the current Operating Income is $1,066 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 Moncler SpA (MONRY) Overvalued in 2026?

Based on GuruFocus' analysis, Moncler SpA stock appears to be undervalued. The current stock price of $58.46 is trading 14.1% below its estimated GF Value™ of $68.04. GuruFocus considers Moncler SpA to be Modestly Undervalued.

Key valuation signals for MONRY:

Operating Income: $1,066 Mil
GF Value™: $68.04 vs. price of $58.46 (14.1% below fair value)
GF Score™: 99/100 with 2 warning signs

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

Moncler SpA Business Description

Industry Consumer Cyclical Manufacturing - Apparel & Accessories

Comparable Companies MIL:OVS MIL:PTR MIL:AEF MIL:CSP MIL:MNL OSTO:HM B RL TSX:GIL LEVI WAR:LPP VFC HKSE:03998 SHSE:600177 BOM:532827 KTB SHSE:600398 ZGN PVH COLM XTER:BOSS

Other Exchanges MONRF:USA MONC:Italy MONCm:UK 0QII:UK MOV:Germany MONC:Austria

Address Via Stendhal 47, Milan, ITA, 20144

Website https://www.monclergroup.com

Moncler consists of its namesake brand and Stone Island (bought in 2021). The Moncler brand is one of the leading players in luxury outerwear. It is globally present with 35% of sales generated in Europe, the Middle East, and Africa, 15% in the Americas, and 50% in Asia and rest of the world. Most of Moncler brand sales are direct to consumer, with 86% generated through the own-retail channel. Around 75%-80% of revenue is generated in the core outerwear segment, with the remainder in the accessory, knitwear, and footwear categories. Stone Island contributed 13% of revenue in 2024.

99GF Score

Get the complete analysis for MONRY

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

$58.46

Price

$68.04

GF Value

View MONRY Analysis

See Operating Income data for all stocks →