Frog Innovations (NSE:FROG) Operating Income: ₹266 Mil (TTM As of Sep. 2025)

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NSE:FROG Frog Innovations Ltd NSE:FROG
75 GF Score
Price ₹211.40
GF Value ₹348.46
Valuation Possible Value Trap
! 3 Warning Signs
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What is Frog Innovations Operating Income?

Frog Innovations NSE:FROG +1.90% 75 Operating Income is ₹266 Mil as of Sep. 2025. GuruFocus rates NSE:FROG with a GF Score™ of 75/100 and a GF Value™ of ₹348.46 (Possible Value Trap). The stock has 3 warning signs investors should review.

Frog Innovations's Operating Income for the six months ended in Sep. 2025 was ₹63 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2025 was ₹266 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Frog Innovations's Operating Income for the six months ended in Sep. 2025 was ₹63 Mil. Frog Innovations's Revenue for the six months ended in Sep. 2025 was ₹549 Mil. Therefore, Frog Innovations's Operating Margin % for the quarter that ended in Sep. 2025 was 11.40%.

Good Sign:

Frog Innovations Ltd operating margin is expanding. Margin expansion is usually a good sign.

Frog Innovations's 5-Year average Growth Rate for Operating Margin % was 20.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Frog Innovations's annualized ROC % for the quarter that ended in Sep. 2025 was 0.00%. Frog Innovations's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2025 was 1.24%.

Frog Innovations  (NSE:FROG) Operating Income Explanation

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

Frog Innovations's annualized ROC % for the quarter that ended in Sep. 2025 is calculated as:

ROC % (Q: Sep. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2025 ) + Invested Capital (Q: Sep. 2025 ))/ count )
=125.224 * ( 1 - 100% )/( (1771.247 + 1745.808)/ 2 )
=0/1758.5275
=0.00 %

where

Invested Capital(Q: Mar. 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))
=2199.14 - 356.835 - ( 71.058 - max(0, 578.157 - 1297.201+71.058))
=1771.247

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))
=2007.329 - 210.079 - ( 51.442 - max(0, 317.846 - 1011.026+51.442))
=1745.808

Note: The Operating Income data used here is two times the semi-annual (Sep. 2025) data.

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

Frog Innovations's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Sep. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2025  Q: Sep. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=19.112/( ( (799.045 + max(773.599, 0)) + (886.409 + max(624.153, 0)) )/ 2 )
=19.112/( ( 1572.644 + 1510.562 )/ 2 )
=19.112/1541.603
=1.24 %

where Working Capital is:

Working Capital(Q: Mar. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(790.76 + 318.478 + 40.478) - (356.835 + 0 + 19.282)
=773.599

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(441.621 + 357.691 + 86.508) - (210.079 + 0 + 51.588)
=624.153

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Sep. 2025) EBIT data.

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

Frog Innovations's Operating Margin % for the quarter that ended in Sep. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Sep. 2025 )/Revenue (Q: Sep. 2025 )
=62.612/549.341
=11.40 %

* 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.

Frog Innovations Operating Income Related Terms

Frog Innovations Operating Income Historical Data

* Premium members only.

The historical data trend for Frog Innovations'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.

Frog Innovations Operating Income Chart

Frog Innovations Annual Data
Trend Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Operating Income
Get a 7-Day Free Trial 100.58 207.78 233.14 174.21 342.06

Frog Innovations Semi-Annual Data
Mar20 Mar21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only 146.57 27.64 138.27 203.79 62.61
NSE:FROG
75GF Score
Frog Innovations Ltd NSE:FROG
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Frog Innovations 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 Sep. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was ₹266 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 ₹266 Mil mean?
Frog Innovations (NSE:FROG) has a Operating Income of ₹266 Mil as of Sep. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Frog Innovations and its competitors.
Is Frog Innovations' Operating Income too high?
Frog Innovations' current Operating Income is ₹266 Mil. Overall, Frog Innovations has a GF Score™ of 75/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Frog Innovations' Operating Income compare to CSCO and CIEN?
Frog Innovations' Operating Income of ₹266 Mil can be compared against companies in the Hardware 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 Hardware company?
A good Operating Income depends on the Hardware 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 Frog Innovations and its competitors. Frog Innovations's current Operating Income is ₹266 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Frog Innovations stock overvalued right now?
Based on GuruFocus' analysis, Frog Innovations (NSE:FROG) is currently considered Possible Value Trap. The stock's GF Value™ is ₹348.46, compared to a current price of ₹211.40 — trading 39.3% below its estimated fair value. The current Operating Income is ₹266 Mil. Frog Innovations' overall GF Score™ is 75/100 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 Frog Innovations (NSE:FROG), the current Operating Income is ₹266 Mil as of Sep. 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 Frog Innovations (NSE:FROG) Overvalued in 2026?

Based on GuruFocus' analysis, Frog Innovations stock appears to be undervalued. The current stock price of ₹211.40 is trading 39.3% below its estimated GF Value™ of ₹348.46. GuruFocus considers Frog Innovations to be Possible Value Trap.

Key valuation signals for NSE:FROG:

  • Operating Income: ₹266 Mil
  • GF Value™: ₹348.46 vs. price of ₹211.40 (39.3% below fair value)
  • GF Score™: 75/100 with 3 warning signs

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

Frog Innovations Business Description

Address C-23, Sector 80, 2nd Floor, Phase 2, Noida, UP, IND, 201305
Frog Innovations Ltd is a company engaged in manufacturing telecom equipment used by telecom operators, especially in Telecom Towers. The company manufactures 2G/3G/4G/5G Multi-band Digital RF Repeaters, Multi-band Frequency Shift Repeaters, Multi-band Optical DAS systems, relative software, and accessories. The company also offers In-Building Coverage Planning and Design services along with Radio Access Network (RAN) and Backhaul Network installation services. The company collectively operates only in one business segment manufacturing and installation of in-building coverage solutions and mobile network accessories for mobile service providers and operators. It provides its products and services across Asia, Europe, Africa, and the Middle East.
75GF Score

Get the complete analysis for NSE:FROG

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

₹211.40
Price
₹348.46
GF Value