ASTARTA Holding NV (WAR:AST) Operating Income: zł152 Mil (TTM As of Mar. 2026)


WAR:AST ASTARTA Holding NV WAR:AST
64 GF Score
Price zł44.75
GF Value zł28.77
Valuation Significantly Overvalued
! 10 Warning Signs
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What is ASTARTA Holding NV Operating Income?

ASTARTA Holding NV WAR:AST +0.34% 64 Operating Income is zł152 Mil as of Mar. 2026. GuruFocus rates WAR:AST with a GF Score™ of 64/100 and a GF Value™ of zł28.77 (Significantly Overvalued). The stock has 10 warning signs investors should review.

ASTARTA Holding NV's Operating Income for the three months ended in Mar. 2026 was zł-10 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was zł152 Mil.

Warning Sign:

ASTARTA Holding NV has recorded a loss in operating income at least once over the past 3 years.

Operating Margin % is calculated as Operating Income divided by its Revenue. ASTARTA Holding NV's Operating Income for the three months ended in Mar. 2026 was zł-10 Mil. ASTARTA Holding NV's Revenue for the three months ended in Mar. 2026 was zł575 Mil. Therefore, ASTARTA Holding NV's Operating Margin % for the quarter that ended in Mar. 2026 was -1.69%.

Warning Sign:

ASTARTA Holding NV operating margin has been in a 5-year decline. The average rate of decline per year is -8.9%.

ASTARTA Holding NV's 5-Year average Growth Rate for Operating Margin % was -8.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. ASTARTA Holding NV's annualized ROC % for the quarter that ended in Mar. 2026 was -1.03%. ASTARTA Holding NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -2.63%.


ASTARTA Holding NV  (WAR:AST) Operating Income Explanation

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

ASTARTA Holding NV'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: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=-38.856 * ( 1 - 6.89% )/( (3577.985 + 3416.209)/ 2 )
=-36.1788216/3497.097
=-1.03 %

where

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))
=3851.293 - 94.96 - ( 178.348 - max(0, 624.228 - 1700.959+178.348))
=3577.985

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))
=3930.831 - 159.172 - ( 355.45 - max(0, 634.502 - 1773.33+355.45))
=3416.209

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

ASTARTA Holding NV'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: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-86.86/( ( (1998.672 + max(1375.277, 0)) + (2027.544 + max(1203.176, 0)) )/ 2 )
=-86.86/( ( 3373.949 + 3230.72 )/ 2 )
=-86.86/3302.3345
=-2.63 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(93.343 + 1180.617 + 248.603) - (94.96 + 0 + 52.326)
=1375.277

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(140.842 + 1016.315 + 261.291) - (159.172 + 0 + 56.1)
=1203.176

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

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

ASTARTA Holding NV'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 )
=-9.714/574.549
=-1.69 %

* 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.


ASTARTA Holding NV Operating Income Related Terms


ASTARTA Holding NV Operating Income Historical Data

* Premium members only.

The historical data trend for ASTARTA Holding NV'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.

ASTARTA Holding NV Operating Income Chart

ASTARTA Holding NV 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 652.75 437.54 417.81 441.98 225.36

ASTARTA Holding NV Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 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 56.25 183.02 37.37 -58.66 -9.71
WAR:AST
64GF Score
ASTARTA Holding NV WAR:AST
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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ASTARTA Holding 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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was zł152 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 zł152 Mil mean?
ASTARTA Holding NV (WAR:AST) has a Operating Income of zł152 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on ASTARTA Holding NV and its competitors.
Is ASTARTA Holding NV's Operating Income too high?
ASTARTA Holding NV's current Operating Income is zł152 Mil. Overall, ASTARTA Holding NV has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ASTARTA Holding NV's Operating Income compare to ADM and BG?
ASTARTA Holding NV's Operating Income of zł152 Mil can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Operating Income depends on the Consumer Packaged Goods 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 ASTARTA Holding NV and its competitors. ASTARTA Holding NV's current Operating Income is zł152 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ASTARTA Holding NV stock overvalued right now?
Based on GuruFocus' analysis, ASTARTA Holding NV (WAR:AST) is currently considered Significantly Overvalued. The stock's GF Value™ is zł28.77, compared to a current price of zł44.75 — trading 55.5% above its estimated fair value. The current Operating Income is zł152 Mil. ASTARTA Holding NV's overall GF Score™ is 64/100 with 10 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 ASTARTA Holding NV (WAR:AST), the current Operating Income is zł152 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 ASTARTA Holding NV (WAR:AST) Overvalued in 2026?

Based on GuruFocus' analysis, ASTARTA Holding NV stock appears to be overvalued. The current stock price of zł44.75 is trading 55.5% above its estimated GF Value™ of zł28.77. GuruFocus considers ASTARTA Holding NV to be Significantly Overvalued.

Key valuation signals for WAR:AST:

  • Operating Income: zł152 Mil
  • GF Value™: zł28.77 vs. price of zł44.75 (55.5% above fair value)
  • GF Score™: 64/100 with 10 warning signs

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


ASTARTA Holding NV Business Description

Other Exchanges Z6J:Germany
Address 1, Lampousas street, Nicosia, CYP, 1095
ASTARTA Holding NV specializes in sugar production, crop growing, soybean processing and cattle farming. Its operations are vertically integrated, with sugar produced mainly using own-grown sugar beet and soybeans processed from in-house grown crops. Its production includes sugar and sugar by-products, grains and oilseeds, soybean crushing products and others. Its segments include production and wholesale distribution of sugar, growing and selling of grain and oilseeds crops, dairy cattle farming, and soybean processing. The agriculture segment generates maximum revenue. Its croplands, sugar and soybean processing plants, and cattle operations are mainly located in the Poltava, Vinnytsia, Khmelnytsky, Ternopil and Kharkiv oblasts of Ukraine, with maximum revenue generated from Ukraine.
64GF Score

Get the complete analysis for WAR:AST

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

zł44.75
Price
zł28.77
GF Value