Echo Investment (WAR:ECH) Operating Income: zł462 Mil (TTM As of Mar. 2026)

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WAR:ECH Echo Investment SA WAR:ECH
75 GF Score
Price zł4.88
GF Value zł7.84
Valuation Possible Value Trap
! 7 Warning Signs
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What is Echo Investment Operating Income?

Echo Investment WAR:ECH -1.81% 75 Operating Income is zł462 Mil as of Mar. 2026. GuruFocus rates WAR:ECH with a GF Score™ of 75/100 and a GF Value™ of zł7.84 (Possible Value Trap). The stock has 7 warning signs investors should review.

Echo Investment's Operating Income for the three months ended in Mar. 2026 was zł73 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was zł462 Mil.

Warning Sign:

Echo Investment SA 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. Echo Investment's Operating Income for the three months ended in Mar. 2026 was zł73 Mil. Echo Investment's Revenue for the three months ended in Mar. 2026 was zł469 Mil. Therefore, Echo Investment's Operating Margin % for the quarter that ended in Mar. 2026 was 15.60%.

Good Sign:

Echo Investment SA operating margin is expanding. Margin expansion is usually a good sign.

Echo Investment's 5-Year average Growth Rate for Operating Margin % was 8.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Echo Investment's annualized ROC % for the quarter that ended in Mar. 2026 was 3.46%. Echo Investment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 20.07%.

Echo Investment  (WAR:ECH) Operating Income Explanation

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

Echo Investment'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 )
=292.744 * ( 1 - 30.83% )/( (5927.62 + 5762.82)/ 2 )
=202.4910248/5845.22
=3.46 %

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))
=6576.697 - 271.625 - ( 377.452 - max(0, 2684.432 - 3643.078+377.452))
=5927.62

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))
=6528.902 - 227.495 - ( 538.587 - max(0, 2784.299 - 3760.547+538.587))
=5762.82

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

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

Echo Investment'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 )
=343.504/( ( (123.748 + max(1635.791, 0)) + (128.265 + max(1534.872, 0)) )/ 2 )
=343.504/( ( 1759.539 + 1663.137 )/ 2 )
=343.504/1711.338
=20.07 %

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)
=(108.688 + 2664.975 + 449.017) - (271.625 + 0 + 1315.264)
=1635.791

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(193.809 + 2762.698 + 265.453) - (227.495 + 0 + 1459.593)
=1534.872

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 %:

Echo Investment'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 )
=73.186/469.02
=15.60 %

* 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.

Echo Investment Operating Income Related Terms

Echo Investment Operating Income Historical Data

* Premium members only.

The historical data trend for Echo Investment'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.

Echo Investment Operating Income Chart

Echo Investment 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 185.69 288.38 257.44 114.63 357.79

Echo Investment 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 -31.51 59.88 183.39 146.03 73.19
WAR:ECH
75GF Score
Echo Investment SA WAR:ECH
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Echo Investment 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 zł462 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 zł462 Mil mean?
Echo Investment (WAR:ECH) has a Operating Income of zł462 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Echo Investment and its competitors.
Is Echo Investment's Operating Income too high?
Echo Investment's current Operating Income is zł462 Mil. Overall, Echo Investment has a GF Score™ of 75/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Echo Investment's Operating Income compare to competitors?
Echo Investment's Operating Income of zł462 Mil can be compared against companies in the Real Estate 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 Real Estate company?
A good Operating Income depends on the Real Estate 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 Echo Investment and its competitors. Echo Investment's current Operating Income is zł462 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Echo Investment stock overvalued right now?
Based on GuruFocus' analysis, Echo Investment (WAR:ECH) is currently considered Possible Value Trap. The stock's GF Value™ is zł7.84, compared to a current price of zł4.88 — trading 37.8% below its estimated fair value. The current Operating Income is zł462 Mil. Echo Investment's overall GF Score™ is 75/100 with 7 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 Echo Investment (WAR:ECH), the current Operating Income is zł462 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 Echo Investment (WAR:ECH) Overvalued in 2026?

Based on GuruFocus' analysis, Echo Investment stock appears to be undervalued. The current stock price of zł4.88 is trading 37.8% below its estimated GF Value™ of zł7.84. GuruFocus considers Echo Investment to be Possible Value Trap.

Key valuation signals for WAR:ECH:

  • Operating Income: zł462 Mil
  • GF Value™: zł7.84 vs. price of zł4.88 (37.8% below fair value)
  • GF Score™: 75/100 with 7 warning signs

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

Echo Investment Business Description

Other Exchanges 4I3:Germany
Address Al. Jana Pawła II 22, Warsaw Office Q22 building, Warsaw, POL, 00-133
Echo Investment SA is a Polish development company that builds projects in the office, retail, and residential sectors. The company divides its revenue-generating businesses into four categories: residential, shopping centers, office buildings, and others. The residential segment handles the rental and sale of properties. In the other segment, accounting, leasing, and development services for external clients generate revenue. The residential and retail segments are responsible for generating the largest portions of revenue. A majority of the company's revenue is earned in Poland.
75GF Score

Get the complete analysis for WAR:ECH

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

zł4.88
Price
zł7.84
GF Value