Cyfrowy Polsat (WAR:CPS) Operating Income: zł1,405 Mil (TTM As of Mar. 2026)

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WAR:CPS Cyfrowy Polsat SA WAR:CPS
83 GF Score
Price zł16.84
GF Value zł14.22
Valuation Modestly Overvalued
! 10 Warning Signs
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What is Cyfrowy Polsat Operating Income?

Cyfrowy Polsat WAR:CPS -0.97% 83 Operating Income is zł1,405 Mil as of Mar. 2026. GuruFocus rates WAR:CPS with a GF Score™ of 83/100 and a GF Value™ of zł14.22 (Modestly Overvalued). The stock has 10 warning signs investors should review.

Cyfrowy Polsat's Operating Income for the three months ended in Mar. 2026 was zł443 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was zł1,405 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Cyfrowy Polsat's Operating Income for the three months ended in Mar. 2026 was zł443 Mil. Cyfrowy Polsat's Revenue for the three months ended in Mar. 2026 was zł3,635 Mil. Therefore, Cyfrowy Polsat's Operating Margin % for the quarter that ended in Mar. 2026 was 12.18%.

Warning Sign:

Cyfrowy Polsat SA operating margin has been in a 5-year decline. The average rate of decline per year is -10.8%.

Cyfrowy Polsat's 5-Year average Growth Rate for Operating Margin % was -10.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Cyfrowy Polsat's annualized ROC % for the quarter that ended in Mar. 2026 was 4.15%. Cyfrowy Polsat's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 17.46%.

Cyfrowy Polsat  (WAR:CPS) Operating Income Explanation

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

Cyfrowy Polsat'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 )
=1770.8 * ( 1 - 29.94% )/( (30681.7 + 29155.7)/ 2 )
=1240.62248/29918.7
=4.15 %

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))
=35269.1 - 2078 - ( 3183.2 - max(0, 6018.9 - 8528.3+3183.2))
=30681.7

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))
=34887.3 - 3104.1 - ( 2790.8 - max(0, 5656.4 - 8283.9+2790.8))
=29155.7

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

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

Cyfrowy Polsat'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 )
=1658/( ( (8520.2 + max(631.3, 0)) + (8494.1 + max(1350.3, 0)) )/ 2 )
=1658/( ( 9151.5 + 9844.4 )/ 2 )
=1658/9497.95
=17.46 %

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)
=(2541 + 936.5 + 1400.1) - (2078 + 0 + 2168.3)
=631.3

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2886.5 + 978 + 1305.6) - (3104.1 + 0 + 715.7)
=1350.3

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 %:

Cyfrowy Polsat'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 )
=442.7/3635
=12.18 %

* 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.

Cyfrowy Polsat Operating Income Related Terms

Cyfrowy Polsat Operating Income Historical Data

* Premium members only.

The historical data trend for Cyfrowy Polsat'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.

Cyfrowy Polsat Operating Income Chart

Cyfrowy Polsat 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 2,211.20 1,586.80 1,212.90 1,828.20 1,403.20

Cyfrowy Polsat 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 440.50 409.90 363.20 189.60 442.70
WAR:CPS
83GF Score
Cyfrowy Polsat SA WAR:CPS
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Cyfrowy Polsat 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 zł1,405 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 zł1,405 Mil mean?
Cyfrowy Polsat (WAR:CPS) has a Operating Income of zł1,405 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Cyfrowy Polsat and its competitors.
Is Cyfrowy Polsat's Operating Income too high?
Cyfrowy Polsat's current Operating Income is zł1,405 Mil. Overall, Cyfrowy Polsat has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cyfrowy Polsat's Operating Income compare to NFLX and DIS?
Cyfrowy Polsat's Operating Income of zł1,405 Mil can be compared against companies in the Media - Diversified 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 Media - Diversified company?
A good Operating Income depends on the Media - Diversified 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 Cyfrowy Polsat and its competitors. Cyfrowy Polsat's current Operating Income is zł1,405 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cyfrowy Polsat stock overvalued right now?
Based on GuruFocus' analysis, Cyfrowy Polsat (WAR:CPS) is currently considered Modestly Overvalued. The stock's GF Value™ is zł14.22, compared to a current price of zł16.84 — trading 18.4% above its estimated fair value. The current Operating Income is zł1,405 Mil. Cyfrowy Polsat's overall GF Score™ is 83/100 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 Cyfrowy Polsat (WAR:CPS), the current Operating Income is zł1,405 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 Cyfrowy Polsat (WAR:CPS) Overvalued in 2026?

Based on GuruFocus' analysis, Cyfrowy Polsat stock appears to be overvalued. The current stock price of zł16.84 is trading 18.4% above its estimated GF Value™ of zł14.22. GuruFocus considers Cyfrowy Polsat to be Modestly Overvalued.

Key valuation signals for WAR:CPS:

  • Operating Income: zł1,405 Mil
  • GF Value™: zł14.22 vs. price of zł16.84 (18.4% above fair value)
  • GF Score™: 83/100 with 10 warning signs

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

Cyfrowy Polsat Business Description

Other Exchanges CP9:Germany
Address 4a, Lubinowa Street, Warsaw, POL, 03-878
Cyfrowy Polsat SA operates in Poland as a provider of a paid digital satellite platform under the name of Polsat Box and paid digital terrestrial television as well as the telecommunication services provider. The group operates in the following four segments that includes B2C and B2B services segment which relate to the provision of services to the general public, including digital television transmission signal, mobile services, internet access services, mobile TV services, online TV services, and set-top box production, Media segment consists mainly of production, acquisition, and broadcasting of information and entertainment programs, and TV series. Real Estate segment consists construction, sale, rental, and management of own or leased real estate and Green energy segment.
83GF Score

Get the complete analysis for WAR:CPS

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

zł16.84
Price
zł14.22
GF Value