SSPPF (SSP Group) Operating Income: $367 Mil (TTM As of Mar. 2026)

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SSPPF SSP Group PLC SSPPF
83 GF Score
Price $2.16
GF Value $2.33
! 7 Warning Signs
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What is SSP Group Operating Income?

SSP Group SSPPF 83 Operating Income is $367 Mil as of Mar. 2026. GuruFocus rates SSPPF with a GF Score™ of 83/100 and a GF Value™ of $2.33. The stock has 7 warning signs investors should review.

SSP Group's Operating Income for the six months ended in Mar. 2026 was $97 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $367 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. SSP Group's Operating Income for the six months ended in Mar. 2026 was $97 Mil. SSP Group's Revenue for the six months ended in Mar. 2026 was $2,351 Mil. Therefore, SSP Group's Operating Margin % for the quarter that ended in Mar. 2026 was 4.12%.

SSP Group'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. SSP Group's annualized ROC % for the quarter that ended in Mar. 2026 was 1.60%. SSP Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 7.62%.


SSP Group  (OTCPK:SSPPF) Operating Income Explanation

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

SSP Group'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 )
=193.6 * ( 1 - 60.6% )/( (4870.811 + 4658.933)/ 2 )
=76.2784/4764.872
=1.60 %

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))
=4627.162 - 780 - ( 462.162 - max(0, 1821.757 - 798.108+462.162))
=4870.811

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))
=4537.467 - 1022.267 - ( 320.933 - max(0, 1817.333 - 673.6+320.933))
=4658.933

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

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

SSP Group'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 )
=196.266/( ( (2547.703 + max(-1048.784, 0)) + (2605.6 + max(-678.666, 0)) )/ 2 )
=196.266/( ( 2547.703 + 2605.6 )/ 2 )
=196.266/2576.6515
=7.62 %

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)
=(51.892 + 61.622 + 64.324) - (780 + 0 + 446.622)
=-1048.784

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(282.667 + 63.067 + 6.9330000000001) - (1022.267 + 0 + 9.066)
=-678.666

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

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

SSP Group'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 )
=96.8/2351.2
=4.12 %

* 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.


SSP Group Operating Income Related Terms


SSP Group Operating Income Historical Data

* Premium members only.

The historical data trend for SSP Group'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.

SSP Group Operating Income Chart

SSP Group Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only -463.05 17.10 247.03 323.15 361.89

SSP Group Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 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 73.70 246.43 87.34 270.54 96.80
SSPPF
83GF Score
SSP Group PLC SSPPF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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SSP Group 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 semi-annually data reported by the company within the most recent 12 months, which was $367 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 $367 Mil mean?
SSP Group (SSPPF) has a Operating Income of $367 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on SSP Group and its competitors.
Is SSP Group's Operating Income too high?
SSP Group's current Operating Income is $367 Mil. Overall, SSP Group has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does SSP Group's Operating Income compare to MCD and SBUX?
SSP Group's Operating Income of $367 Mil can be compared against companies in the Restaurants 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 Restaurants company?
A good Operating Income depends on the Restaurants 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 SSP Group and its competitors. SSP Group's current Operating Income is $367 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SSP Group stock overvalued right now?
SSP Group (SSPPF) has a current Operating Income of $367 Mil. The stock's GF Value™ is $2.33, compared to a current price of $2.16 — trading 7.4% below its estimated fair value. The current Operating Income is $367 Mil. SSP Group's overall GF Score™ is 83/100 with 7 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 SSP Group (SSPPF), the current Operating Income is $367 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 SSP Group (SSPPF) Overvalued in 2026?

Based on GuruFocus' analysis, SSP Group stock appears to be undervalued. The current stock price of $2.16 is trading 7.4% below its estimated GF Value™ of $2.33.

Key valuation signals for SSPPF:

  • Operating Income: $367 Mil
  • GF Value™: $2.33 vs. price of $2.16 (7.4% below fair value)
  • GF Score™: 83/100 with 7 warning signs

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


SSP Group Business Description

Other Exchanges SSPGl:UKSSPG:UK83S2:Germany
Address 32 Jamestown Road, Jamestown Wharf, London, GBR, NW1 7HW
SSP Group PLC operates food and beverage units in travel locations such as airports and railway stations. Units range from coffee shops and sandwich bars to casual and fine-dining restaurants. Its units operate under more than 300 different brand names, including both proprietary brands and franchised brands, such as Starbucks and Burger King. Its segments include the UK and Ireland, Continental Europe, North America, and Asia Pacific and Eastern Europe & Middle East (APAC & EEME).
83GF Score

Get the complete analysis for SSPPF

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

$2.16
Price
$2.33
GF Value