Value-Holdings AG (STU:VHO) Operating Income: €0.91 Mil (TTM As of Dec. 2025)

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STU:VHO Value-Holdings AG STU:VHO
76 GF Score
Price €7.15
GF Value €11.17
Valuation Significantly Undervalued
! 3 Warning Signs
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What is Value-Holdings AG Operating Income?

Value-Holdings AG STU:VHO 76 Operating Income is €0.91 Mil as of Dec. 2025. GuruFocus rates STU:VHO with a GF Score™ of 76/100 and a GF Value™ of €11.17 (Significantly Undervalued). The stock has 3 warning signs investors should review.

Value-Holdings AG's Operating Income for the six months ended in Dec. 2025 was €0.91 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €0.91 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Value-Holdings AG's Operating Income for the six months ended in Dec. 2025 was €0.91 Mil. Value-Holdings AG's Revenue for the six months ended in Dec. 2025 was €4.74 Mil. Therefore, Value-Holdings AG's Operating Margin % for the quarter that ended in Dec. 2025 was 19.11%.

Good Sign:

Value-Holdings AG operating margin is expanding. Margin expansion is usually a good sign.

Value-Holdings AG's 5-Year average Growth Rate for Operating Margin % was 3.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Value-Holdings AG's annualized ROC % for the quarter that ended in Dec. 2025 was 6.32%. Value-Holdings AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 242.71%.


Value-Holdings AG  (STU:VHO) Operating Income Explanation

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

Value-Holdings AG'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: Dec. 2024 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=0.906 * ( 1 - 0.16% )/( (13.946 + 14.666)/ 2 )
=0.9045504/14.306
=6.32 %

where

Note: The Operating Income data used here is one times the annual (Dec. 2025) data.

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

Value-Holdings AG'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: Dec. 2024  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1.216/( ( (0.033 + max(0.397, 0)) + (0.027 + max(0.545, 0)) )/ 2 )
=1.216/( ( 0.43 + 0.572 )/ 2 )
=1.216/0.501
=242.71 %

where Working Capital is:

Working Capital(Q: Dec. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.211 + 0 + 0.251) - (0.065 + 0 + 0)
=0.397

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.292 + 0 + 0.305) - (0.052 + 0 + 0)
=0.545

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Dec. 2025) EBIT data.

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

Value-Holdings AG'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 )
=0.906/4.74
=19.11 %

* 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.


Value-Holdings AG Operating Income Related Terms


Value-Holdings AG Operating Income Historical Data

* Premium members only.

The historical data trend for Value-Holdings AG'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.

Value-Holdings AG Operating Income Chart

Value-Holdings AG 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 2.27 0.80 0.44 0.63 0.91

Value-Holdings AG Semi-Annual Data
Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 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 2.27 0.80 0.44 0.63 0.91
STU:VHO
76GF Score
Value-Holdings AG STU:VHO
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Value-Holdings AG 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €0.91 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 €0.91 Mil mean?
Value-Holdings AG (STU:VHO) has a Operating Income of €0.91 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Value-Holdings AG and its competitors.
Is Value-Holdings AG's Operating Income too high?
Value-Holdings AG's current Operating Income is €0.91 Mil. Overall, Value-Holdings AG has a GF Score™ of 76/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Value-Holdings AG's Operating Income compare to MS and GS?
Value-Holdings AG's Operating Income of €0.91 Mil can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Operating Income depends on the Capital Markets 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 Value-Holdings AG and its competitors. Value-Holdings AG's current Operating Income is €0.91 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Value-Holdings AG stock overvalued right now?
Based on GuruFocus' analysis, Value-Holdings AG (STU:VHO) is currently considered Significantly Undervalued. The stock's GF Value™ is €11.17, compared to a current price of €7.15 — trading 36% below its estimated fair value. The current Operating Income is €0.91 Mil. Value-Holdings AG's overall GF Score™ is 76/100 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 Value-Holdings AG (STU:VHO), the current Operating Income is €0.91 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 Value-Holdings AG (STU:VHO) Overvalued in 2026?

Based on GuruFocus' analysis, Value-Holdings AG stock appears to be undervalued. The current stock price of €7.15 is trading 36% below its estimated GF Value™ of €11.17. GuruFocus considers Value-Holdings AG to be Significantly Undervalued.

Key valuation signals for STU:VHO:

  • Operating Income: €0.91 Mil
  • GF Value™: €11.17 vs. price of €7.15 (36% below fair value)
  • GF Score™: 76/100 with 3 warning signs

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


Value-Holdings AG Business Description

Address Donauworther Strasse 3, Gersthofen, DEU, 86368
Value-Holdings AG is a German investment company that acquires shareholdings in listed medium-sized companies. It invests in its own portfolio, as well as managing third-party investment funds. The company along with its subsidiaries also advises institutional investors on investing as per the value-investing strategies. It manages two funds namely Value Holdings Germany Fund and Value Holdings Europe Fund.
76GF Score

Get the complete analysis for STU:VHO

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

€7.15
Price
€11.17
GF Value