China Resources Pharmaceutical Group (STU:640) Operating Income: €1,700 Mil (TTM As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

STU:640 China Resources Pharmaceutical Group Ltd STU:640
63 GF Score
Price €0.52
GF Value €0.65
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is China Resources Pharmaceutical Group Operating Income?

China Resources Pharmaceutical Group STU:640 -1.89% 63 Operating Income is €1,700 Mil as of Dec. 2025. GuruFocus rates STU:640 with a GF Score™ of 63/100 and a GF Value™ of €0.65 (Modestly Undervalued). The stock has 3 warning signs investors should review.

China Resources Pharmaceutical Group's Operating Income for the six months ended in Dec. 2025 was €714 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €1,700 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. China Resources Pharmaceutical Group's Operating Income for the six months ended in Dec. 2025 was €714 Mil. China Resources Pharmaceutical Group's Revenue for the six months ended in Dec. 2025 was €16,697 Mil. Therefore, China Resources Pharmaceutical Group's Operating Margin % for the quarter that ended in Dec. 2025 was 4.28%.

Warning Sign:

China Resources Pharmaceutical Group Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -1.7%.

China Resources Pharmaceutical Group's 5-Year average Growth Rate for Operating Margin % was -1.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. China Resources Pharmaceutical Group's annualized ROC % for the quarter that ended in Dec. 2025 was 5.68%. China Resources Pharmaceutical Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 11.83%.

China Resources Pharmaceutical Group  (STU:640) Operating Income Explanation

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

China Resources Pharmaceutical Group'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 )
=1428.476 * ( 1 - 14.51% )/( (21712.15 + 21305.206)/ 2 )
=1221.2041324/21508.678
=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))
=34635.739 - 9687.038 - ( 3236.551 - max(0, 17426.688 - 24519.629+3236.551))
=21712.15

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))
=34655.092 - 9965.405 - ( 3384.481 - max(0, 17243.103 - 24457.311+3384.481))
=21305.206

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:

China Resources Pharmaceutical Group'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 )
=1552.044/( ( (3855.15 + max(9530.205, 0)) + (3982.572 + max(8860.936, 0)) )/ 2 )
=1552.044/( ( 13385.355 + 12843.508 )/ 2 )
=1552.044/13114.4315
=11.83 %

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)
=(13310.66 + 5063.546 + 1772.054) - (9687.038 + 0 + 929.017)
=9530.205

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(12825.832 + 5246.667 + 1929.028) - (9965.405 + 0 + 1175.186)
=8860.936

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 %:

China Resources Pharmaceutical Group'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 )
=714.238/16697.27
=4.28 %

* 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.

China Resources Pharmaceutical Group Operating Income Related Terms

China Resources Pharmaceutical Group Operating Income Historical Data

* Premium members only.

The historical data trend for China Resources Pharmaceutical 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.

China Resources Pharmaceutical Group Operating Income Chart

China Resources Pharmaceutical Group Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,425.73 1,673.59 1,612.98 1,740.59 1,703.79

China Resources Pharmaceutical Group Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 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 592.93 1,118.14 595.25 985.42 714.24
STU:640
63GF Score
China Resources Pharmaceutical Group Ltd STU:640
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

China Resources Pharmaceutical 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was €1,700 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 €1,700 Mil mean?
China Resources Pharmaceutical Group (STU:640) has a Operating Income of €1,700 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on China Resources Pharmaceutical Group and its competitors.
Is China Resources Pharmaceutical Group's Operating Income too high?
China Resources Pharmaceutical Group's current Operating Income is €1,700 Mil. Overall, China Resources Pharmaceutical Group has a GF Score™ of 63/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Resources Pharmaceutical Group's Operating Income compare to ZTS and UTHR?
China Resources Pharmaceutical Group's Operating Income of €1,700 Mil can be compared against companies in the Drug Manufacturers 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 Drug Manufacturers company?
A good Operating Income depends on the Drug Manufacturers 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 China Resources Pharmaceutical Group and its competitors. China Resources Pharmaceutical Group's current Operating Income is €1,700 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Resources Pharmaceutical Group stock overvalued right now?
Based on GuruFocus' analysis, China Resources Pharmaceutical Group (STU:640) is currently considered Modestly Undervalued. The stock's GF Value™ is €0.65, compared to a current price of €0.52 — trading 20% below its estimated fair value. The current Operating Income is €1,700 Mil. China Resources Pharmaceutical Group's overall GF Score™ is 63/100 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 China Resources Pharmaceutical Group (STU:640), the current Operating Income is €1,700 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 China Resources Pharmaceutical Group (STU:640) Overvalued in 2026?

Based on GuruFocus' analysis, China Resources Pharmaceutical Group stock appears to be undervalued. The current stock price of €0.52 is trading 20% below its estimated GF Value™ of €0.65. GuruFocus considers China Resources Pharmaceutical Group to be Modestly Undervalued.

Key valuation signals for STU:640:

  • Operating Income: €1,700 Mil
  • GF Value™: €0.65 vs. price of €0.52 (20% below fair value)
  • GF Score™: 63/100 with 3 warning signs

No single metric tells the full story. See the STU:640 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

China Resources Pharmaceutical Group Business Description

Other Exchanges 03320:Hong Kong
Address 26 Harbour Road, Room 4104-05, 41st Floor, China Resources Building, Wanchai, HKG
China Resources Pharmaceutical Group Ltd is principally engaged in the manufacture, distribution and retail of pharmaceutical and healthcare products. Specifically, the Group has four reportable segments as follows: Pharmaceutical manufacturing business, Pharmaceutical distribution business, Pharmaceutical retail business , and Other business operations. The company generates majority of its revenue from the Pharmaceutical distribution business.
63GF Score

Get the complete analysis for STU:640

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

€0.52
Price
€0.65
GF Value