TSDOF (Tessenderlo Group NV) Operating Income: $76 Mil (TTM As of Dec. 2025)

What is Tessenderlo Group NV Operating Income?

Tessenderlo Group NV TSDOF 62 Operating Income is $76 Mil as of Dec. 2025. GuruFocus rates TSDOF with a GF Score™ of 62/100 and a GF Value™ of $30.18. The stock has 5 warning signs investors should review.

Tessenderlo Group NV's Operating Income for the six months ended in Dec. 2025 was $8 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $76 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Tessenderlo Group NV's Operating Income for the six months ended in Dec. 2025 was $8 Mil. Tessenderlo Group NV's Revenue for the six months ended in Dec. 2025 was $1,494 Mil. Therefore, Tessenderlo Group NV's Operating Margin % for the quarter that ended in Dec. 2025 was 0.53%.

Warning Sign:

Tessenderlo Group NV operating margin has been in a 5-year decline. The average rate of decline per year is -31.4%.

Tessenderlo Group NV's 5-Year average Growth Rate for Operating Margin % was -31.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Tessenderlo Group NV's annualized ROC % for the quarter that ended in Dec. 2025 was 0.63%. Tessenderlo Group NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -12.30%.

Tessenderlo Group NV (OTCPK:TSDOF) Operating Income Explanation

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

Tessenderlo Group NV'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 )
=	15.69 * ( 1 - 0% )	/	( (2449.942	+	2543.56)	/ 2 )
=	15.69	/	2496.751
=	0.63 %

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	))
=	3263.437	-	541.061	-	( 272.434	-	max(0, 746.367	-	1446.713	+	272.434	))
=	2449.942

	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	))
=	3094.848	-	366.276	-	( 185.012	-	max(0, 644.848	-	1345.667	+	185.012	))
=	2543.56

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:

Tessenderlo Group NV'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 )
=	-246.838	/	( ( (1432.295 + max(597.808, 0))	+	(1404.098 + max(580.795, 0)) )	/	2 )
=	-246.838	/	( ( 2030.103	+	1984.893 )	/	2 )
=	-246.838	/	2007.498
=	-12.30 %

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)
=	(585.006	+	568.512	+	20.761)	-	(541.061	+	0	+	35.41)
=	597.808

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(429.391	+	621.663	+	66.744)	-	(366.276	+	0	+	170.727)
=	580.795

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 %:

Tessenderlo Group NV'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 )
	=	7.845	/	1493.794
	=	0.53 %

* 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.

Tessenderlo Group NV Operating Income Related Terms

Tessenderlo Group NV Operating Income Historical Data

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The historical data trend for Tessenderlo Group NV's Operating Income can be seen below:

Tessenderlo Group NV Operating Income Chart

Tessenderlo Group NV Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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256.84

332.31

130.32

61.47

77.52

Tessenderlo Group NV 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															13.74	55.44	7.54	68.63	7.85

62GF Score

Tessenderlo Group NV TSDOF

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Tessenderlo Group NV 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 $76 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $76 Mil mean?

Tessenderlo Group NV (TSDOF) has a Operating Income of $76 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Tessenderlo Group NV and its competitors.

Is Tessenderlo Group NV's Operating Income too high?

Tessenderlo Group NV's current Operating Income is $76 Mil. Overall, Tessenderlo Group NV has a GF Score™ of 62/100, reflecting its overall financial health beyond just this single metric.

How does Tessenderlo Group NV's Operating Income compare to CTVA and CF?

Tessenderlo Group NV's Operating Income of $76 Mil can be compared against companies in the Agriculture 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 an Agriculture company?

A good Operating Income depends on the Agriculture 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 Tessenderlo Group NV and its competitors. Tessenderlo Group NV's current Operating Income is $76 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Tessenderlo Group NV stock overvalued right now?

Tessenderlo Group NV (TSDOF) has a current Operating Income of $76 Mil. The stock's GF Value™ is $30.18, compared to a current price of $25.18 — trading 16.6% below its estimated fair value. The current Operating Income is $76 Mil. Tessenderlo Group NV's overall GF Score™ is 62/100 with 5 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 Tessenderlo Group NV (TSDOF), the current Operating Income is $76 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 Tessenderlo Group NV (TSDOF) Overvalued in 2026?

Based on GuruFocus' analysis, Tessenderlo Group NV stock appears to be undervalued. The current stock price of $25.18 is trading 16.6% below its estimated GF Value™ of $30.18.

Key valuation signals for TSDOF:

Operating Income: $76 Mil
GF Value™: $30.18 vs. price of $25.18 (16.6% below fair value)
GF Score™: 62/100 with 5 warning signs

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

Tessenderlo Group NV Business Description

Industry Basic Materials Agriculture

Comparable Companies XBRU:BTLS CTVA TSX:NTR SZSE:000792 DSMD:IQCD CF SAU:2020 OSL:YAR AMM:JOPH SHSE:600096 MOS XTAE:ICL ADX:FERTIGLB BOM:506395 BOM:590024 SZSE:000893 NSE:UPL AMM:APOT NSE:PIIND SMG

Other Exchanges 0KCP:UK TEZ:Germany TESB:Belgium

Address Troonstraat 130 Rue du Trone, Brussels, BEL, 1050

Website https://www.tessenderlo.com

Tessenderlo Group NV focuses on agriculture, valorizing bio-residuals, machinery, mechanical engineering, electronics, energy, and providing industrial solutions with a focus on water. The firm produces and sells products across five segments: Agro, Industrial Solutions, Bio-Valorization, T-Power, and Machines & Technologies. The majority of its revenue comes from the Agro segment. The Agro segment encompasses activities in agriculture, including crop nutrition and crop protection products. This segment includes the business units Tessenderlo Kerley North America, Tessenderlo Kerley International, and Violleau. Its geographical segments include Europe, North America, South America, Asia, and the rest of the world, with Europe generating the maximum revenue.

62GF Score

Get the complete analysis for TSDOF

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

$25.18

Price

$30.18

GF Value

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