PIFMF (PT Indofood Sukses Makmur Tbk) Operating Income: $1,443 Mil (TTM As of Mar. 2026)

What is PT Indofood Sukses Makmur Tbk Operating Income?

PT Indofood Sukses Makmur Tbk PIFMF 69 Operating Income is $1,443 Mil as of Mar. 2026. GuruFocus rates PIFMF with a GF Score™ of 69/100 and a GF Value™ of $0.60 (Significantly Undervalued). The stock has 3 warning signs investors should review.

PT Indofood Sukses Makmur Tbk's Operating Income for the three months ended in Mar. 2026 was $377 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $1,443 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. PT Indofood Sukses Makmur Tbk's Operating Income for the three months ended in Mar. 2026 was $377 Mil. PT Indofood Sukses Makmur Tbk's Revenue for the three months ended in Mar. 2026 was $2,002 Mil. Therefore, PT Indofood Sukses Makmur Tbk's Operating Margin % for the quarter that ended in Mar. 2026 was 18.86%.

Good Sign:

PT Indofood Sukses Makmur Tbk operating margin is expanding. Margin expansion is usually a good sign.

PT Indofood Sukses Makmur Tbk's 5-Year average Growth Rate for Operating Margin % was 4.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. PT Indofood Sukses Makmur Tbk's annualized ROC % for the quarter that ended in Mar. 2026 was 12.62%. PT Indofood Sukses Makmur Tbk's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 42.77%.

PT Indofood Sukses Makmur Tbk (OTCPK:PIFMF) Operating Income Explanation

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

PT Indofood Sukses Makmur Tbk'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 )
=	1509.908 * ( 1 - 19.98% )	/	( (9539.947	+	9600.319)	/ 2 )
=	1208.2283816	/	9570.133
=	12.62 %

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	))
=	13047.229	-	634.759	-	( 3430.162	-	max(0, 2537.817	-	5410.34	+	3430.162	))
=	9539.947

	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	))
=	13379.783	-	685.839	-	( 3548.851	-	max(0, 2662.103	-	5755.728	+	3548.851	))
=	9600.319

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

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

PT Indofood Sukses Makmur Tbk'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 )
=	1457.564	/	( ( (2433.81 + max(922.233, 0))	+	(2391.856 + max(1067.8, 0)) )	/	2 )
=	1457.564	/	( ( 3356.043	+	3459.656 )	/	2 )
=	1457.564	/	3407.8495
=	42.77 %

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)
=	(633.947	+	1180.717	+	114.754)	-	(634.759	+	0	+	372.426)
=	922.233

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(708.349	+	1318.282	+	128.175)	-	(685.839	+	0	+	401.167)
=	1067.8

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 %:

PT Indofood Sukses Makmur Tbk'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 )
	=	377.477	/	2001.888
	=	18.86 %

* 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.

PT Indofood Sukses Makmur Tbk Operating Income Related Terms

PT Indofood Sukses Makmur Tbk Operating Income Historical Data

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The historical data trend for PT Indofood Sukses Makmur Tbk's Operating Income can be seen below:

PT Indofood Sukses Makmur Tbk Operating Income Chart

PT Indofood Sukses Makmur Tbk Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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1,222.40

1,212.21

1,297.97

1,472.76

1,419.29

PT Indofood Sukses Makmur Tbk 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															371.21	311.17	365.26	388.71	377.48

69GF Score

PT Indofood Sukses Makmur Tbk PIFMF

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PT Indofood Sukses Makmur Tbk 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 $1,443 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $1,443 Mil mean?

PT Indofood Sukses Makmur Tbk (PIFMF) has a Operating Income of $1,443 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on PT Indofood Sukses Makmur Tbk and its competitors.

Is PT Indofood Sukses Makmur Tbk's Operating Income too high?

PT Indofood Sukses Makmur Tbk's current Operating Income is $1,443 Mil. Overall, PT Indofood Sukses Makmur Tbk has a GF Score™ of 69/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.

How does PT Indofood Sukses Makmur Tbk's Operating Income compare to KHC and GIS?

PT Indofood Sukses Makmur Tbk's Operating Income of $1,443 Mil can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?

A good Operating Income depends on the Consumer Packaged Goods 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 PT Indofood Sukses Makmur Tbk and its competitors. PT Indofood Sukses Makmur Tbk's current Operating Income is $1,443 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is PT Indofood Sukses Makmur Tbk stock overvalued right now?

Based on GuruFocus' analysis, PT Indofood Sukses Makmur Tbk (PIFMF) is currently considered Significantly Undervalued. The stock's GF Value™ is $0.60, compared to a current price of $0.42 — trading 30.7% below its estimated fair value. The current Operating Income is $1,443 Mil. PT Indofood Sukses Makmur Tbk's overall GF Score™ is 69/100 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 PT Indofood Sukses Makmur Tbk (PIFMF), the current Operating Income is $1,443 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 PT Indofood Sukses Makmur Tbk (PIFMF) Overvalued in 2026?

Based on GuruFocus' analysis, PT Indofood Sukses Makmur Tbk stock appears to be undervalued. The current stock price of $0.42 is trading 30.7% below its estimated GF Value™ of $0.60. GuruFocus considers PT Indofood Sukses Makmur Tbk to be Significantly Undervalued.

Key valuation signals for PIFMF:

Operating Income: $1,443 Mil
GF Value™: $0.60 vs. price of $0.42 (30.7% below fair value)
GF Score™: 69/100 with 3 warning signs

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

PT Indofood Sukses Makmur Tbk Business Description

Industry Consumer Defensive Consumer Packaged Goods

Comparable Companies ISX:MYOR ISX:ICBP ISX:CMRY ISX:STTP ISX:GOOD ISX:SIDO ISX:SIMP ISX:DMND ISX:TBLA ISX:ROTI XSWX:NESN XPAR:BN BOG:NUTRESA TSE:2802 NSE:NESTLEIND SHSE:603288 KHC SHSE:600887 GIS SZSE:300999

Other Exchanges PIFMY:USA INDF:Indonesia ISM:Germany

Address Jalan Jend. Sudirman Kav 76-78, Sudirman Plaza, Indofood Tower, 27th Floor, Jakarta, IDN, 12910

Website https://www.indofood.com

PT Indofood Sukses Makmur Tbk is a packaged food company with a diversified portfolio in both raw materials and processed food. It divides operations into the Consumer Branded Products Business Group, Bogasari Business Group, Agribusiness Group, and Distribution Business Group. The Consumer Branded Products Business Group, which generates maximum revenue, produces a varied range of consumer-branded products such as noodles, dairy, snack foods, special foods, food seasonings, and beverages. The Bogasari unit mainly produces wheat flour as well as pasta; and the Agribusiness unit is involved in seed breeding, oil palm cultivation and milling, and the production and marketing of branded cooking oils, margarine, and shortening. Geographically, the Group generates key revenue from Indonesia.

69GF Score

Get the complete analysis for PIFMF

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

$0.42

Price

$0.60

GF Value

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