Sasol (SSL) Operating Income: $1,890 Mil (TTM As of Dec. 2025)


SSL Sasol Ltd SSL
62 GF Score
Price $10.11
GF Value $8.40
Valuation Modestly Overvalued
! 2 Warning Signs
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What is Sasol Operating Income?

Sasol SSL -3.71% 62 Operating Income is $1,890 Mil as of Dec. 2025. GuruFocus rates SSL with a GF Score™ of 62/100 and a GF Value™ of $8.40 (Modestly Overvalued). The stock has 2 warning signs investors should review.

Sasol's Operating Income for the six months ended in Dec. 2025 was $712 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $1,890 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Sasol's Operating Income for the six months ended in Dec. 2025 was $712 Mil. Sasol's Revenue for the six months ended in Dec. 2025 was $7,271 Mil. Therefore, Sasol's Operating Margin % for the quarter that ended in Dec. 2025 was 9.79%.

Good Sign:

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

Sasol's 5-Year average Growth Rate for Operating Margin % was 5.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Sasol's annualized ROC % for the quarter that ended in Dec. 2025 was 5.68%. Sasol's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 6.15%.


Sasol  (NYSE:SSL) Operating Income Explanation

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

Sasol'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 )
=1423.182 * ( 1 - 39.66% )/( (14862.289 + 15393.49)/ 2 )
=858.7480188/15127.8895
=5.68 %

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))
=20177.275 - 2696.27 - ( 2618.716 - max(0, 3896.564 - 7303.898+2618.716))
=14862.289

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))
=20181.373 - 2411.675 - ( 2376.208 - max(0, 4278.161 - 7087.277+2376.208))
=15393.49

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:

Sasol'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 )
=682.718/( ( (9532.935 + max(1106.691, 0)) + (9546.359 + max(2033.781, 0)) )/ 2 )
=682.718/( ( 10639.626 + 11580.14 )/ 2 )
=682.718/11109.883
=6.15 %

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)
=(1704.284 + 2345.313 + 2.9739999999993) - (2696.27 + 35.073 + 214.537)
=1106.691

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2247.174 + 2438.706 + 2.2579999999998) - (2411.675 + 30.001 + 212.681)
=2033.781

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 %:

Sasol'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 )
=711.591/7270.788
=9.79 %

* 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.


Sasol Operating Income Related Terms


Sasol Operating Income Historical Data

* Premium members only.

The historical data trend for Sasol'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.

Sasol Operating Income Chart

Sasol Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3,364.81 4,174.55 2,495.63 2,432.35 2,005.35

Sasol Semi-Annual Data
Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Jun24 Dec24 Jun25 Dec25
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 952.48 0.00 808.48 1,178.80 711.59
SSL
62GF Score
Sasol Ltd SSL
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Sasol 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 $1,890 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 $1,890 Mil mean?
Sasol (SSL) has a Operating Income of $1,890 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Sasol and its competitors.
Is Sasol's Operating Income too high?
Sasol's current Operating Income is $1,890 Mil. Overall, Sasol has a GF Score™ of 62/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sasol's Operating Income compare to LIN and SHW?
Sasol's Operating Income of $1,890 Mil can be compared against companies in the Chemicals 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 Chemicals company?
A good Operating Income depends on the Chemicals 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 Sasol and its competitors. Sasol's current Operating Income is $1,890 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sasol stock overvalued right now?
Based on GuruFocus' analysis, Sasol (SSL) is currently considered Modestly Overvalued. The stock's GF Value™ is $8.40, compared to a current price of $10.11 — trading 20.4% above its estimated fair value. The current Operating Income is $1,890 Mil. Sasol's overall GF Score™ is 62/100 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 Sasol (SSL), the current Operating Income is $1,890 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 Sasol (SSL) Overvalued in 2026?

Based on GuruFocus' analysis, Sasol stock appears to be overvalued. The current stock price of $10.11 is trading 20.4% above its estimated GF Value™ of $8.40. GuruFocus considers Sasol to be Modestly Overvalued.

Key valuation signals for SSL:

  • Operating Income: $1,890 Mil
  • GF Value™: $8.40 vs. price of $10.11 (20.4% above fair value)
  • GF Score™: 62/100 with 2 warning signs

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


Sasol Business Description

Address 50 Katherine Street, Sasol Place, Sandton, Johannesburg, GT, ZAF, 2196
Sasol Ltd operates as a vertically integrated chemicals and energy company through its two main businesses: the Southern Africa Energy & Chemicals business and the International Chemical business. It generates maximum revenue from the Southern Africa Energy & Chemicals business, which operates integrated value chains with feedstock sourced from the Mining and Gas operating segments. Geographically, the company generates the majority of its revenue from South Africa.
62GF Score

Get the complete analysis for SSL

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

$10.11
Price
$8.40
GF Value