Guinness Nigeria (NSA:GUIN) Operating Income: ₦51,892 Mil (TTM As of Mar. 2026)

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NSA:GUIN Guinness Nigeria PLC NSA:GUIN
67 GF Score
Price ₦365.20
GF Value ₦172.16
Valuation Significantly Overvalued
! 2 Warning Signs
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What is Guinness Nigeria Operating Income?

Guinness Nigeria NSA:GUIN +10.00% 67 Operating Income is ₦51,892 Mil as of Mar. 2026. GuruFocus rates NSA:GUIN with a GF Score™ of 67/100 and a GF Value™ of ₦172.16 (Significantly Overvalued). The stock has 2 warning signs investors should review.

Guinness Nigeria's Operating Income for the three months ended in Mar. 2026 was ₦17,284 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ₦51,892 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Guinness Nigeria's Operating Income for the three months ended in Mar. 2026 was ₦17,284 Mil. Guinness Nigeria's Revenue for the three months ended in Mar. 2026 was ₦122,773 Mil. Therefore, Guinness Nigeria's Operating Margin % for the quarter that ended in Mar. 2026 was 14.08%.

Guinness Nigeria's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Guinness Nigeria's annualized ROC % for the quarter that ended in Mar. 2026 was 24.41%. Guinness Nigeria's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 58.26%.


Guinness Nigeria  (NSA:GUIN) Operating Income Explanation

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

Guinness Nigeria'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: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=69136.504 * ( 1 - 34% )/( (196093.655 + 177733.264)/ 2 )
=45630.09264/186913.4595
=24.41 %

where

Invested Capital(Q: Sep. 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))
=245982.516 - 150995.384 - ( 3687.359 - max(0, 216114.868 - 115008.345+3687.359))
=196093.655

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))
=238324.174 - 131689.426 - ( 1629.962 - max(0, 170944.618 - 99846.102+1629.962))
=177733.264

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

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

Guinness Nigeria'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: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=72903.008/( ( (118044.196 + max(-57485.842, 0)) + (132239.379 + max(-48370.268, 0)) )/ 2 )
=72903.008/( ( 118044.196 + 132239.379 )/ 2 )
=72903.008/125141.7875
=58.26 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(27306.109 + 63690.496 + 5715.349) - (150995.384 + 0 + 3202.412)
=-57485.842

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(23246.979 + 45967.431 + 20782.344) - (131689.426 + 0 + 6677.596)
=-48370.268

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 %:

Guinness Nigeria'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 )
=17284.126/122772.787
=14.08 %

* 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.


Guinness Nigeria Operating Income Related Terms


Guinness Nigeria Operating Income Historical Data

* Premium members only.

The historical data trend for Guinness Nigeria'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.

Guinness Nigeria Operating Income Chart

Guinness Nigeria Annual Data
Trend Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 475.04 9,375.08 21,702.91 21,399.61 -1,422.40

Guinness Nigeria Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Dec24 Mar25 Jun25 Sep25 Mar26
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 18,122.17 17,994.92 18,128.99 16,478.71 17,284.13
NSA:GUIN
67GF Score
Guinness Nigeria PLC NSA:GUIN
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Guinness Nigeria 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 ₦51,892 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 ₦51,892 Mil mean?
Guinness Nigeria (NSA:GUIN) has a Operating Income of ₦51,892 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Guinness Nigeria and its competitors.
Is Guinness Nigeria's Operating Income too high?
Guinness Nigeria's current Operating Income is ₦51,892 Mil. Overall, Guinness Nigeria has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Guinness Nigeria's Operating Income compare to BUD and STZ?
Guinness Nigeria's Operating Income of ₦51,892 Mil can be compared against companies in the Beverages - Alcoholic 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 Beverages - Alcoholic company?
A good Operating Income depends on the Beverages - Alcoholic 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 Guinness Nigeria and its competitors. Guinness Nigeria's current Operating Income is ₦51,892 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Guinness Nigeria stock overvalued right now?
Based on GuruFocus' analysis, Guinness Nigeria (NSA:GUIN) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦172.16, compared to a current price of ₦365.20 — trading 112.1% above its estimated fair value. The current Operating Income is ₦51,892 Mil. Guinness Nigeria's overall GF Score™ is 67/100 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 Guinness Nigeria (NSA:GUIN), the current Operating Income is ₦51,892 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 Guinness Nigeria (NSA:GUIN) Overvalued in 2026?

Based on GuruFocus' analysis, Guinness Nigeria stock appears to be overvalued. The current stock price of ₦365.20 is trading 112.1% above its estimated GF Value™ of ₦172.16. GuruFocus considers Guinness Nigeria to be Significantly Overvalued.

Key valuation signals for NSA:GUIN:

  • Operating Income: ₦51,892 Mil
  • GF Value™: ₦172.16 vs. price of ₦365.20 (112.1% above fair value)
  • GF Score™: 67/100 with 2 warning signs

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


Guinness Nigeria Business Description

Address Cocoa Industries Road, (Guinness Road) Ogba-Ikeja, Lagos, Lagos, NGA, 21071
Guinness Nigeria PLC is a beverage manufacturing company. The company is engaged in brewing, packaging, marketing and selling of various beverage brand including Guinness Foreign Extra Stout, Guinness Smooth, Malta Guinness, Smirnoff Ice, Dubic Malt, Orijin Spirit Mixed Drink, Orijin Bitters, Baileys Delight, Gordons Moringa, Captain Morgan Gold and Don Royale among others. Geographically, it derives a majority of revenue from Nigeria.
67GF Score

Get the complete analysis for NSA:GUIN

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

₦365.20
Price
₦172.16
GF Value