Eurohold Bulgaria AD (WAR:EHG) Operating Income: zł543 Mil (TTM As of Mar. 2026)

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WAR:EHG Eurohold Bulgaria AD WAR:EHG
61 GF Score
Price zł4.64
GF Value zł5.25
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Eurohold Bulgaria AD Operating Income?

Eurohold Bulgaria AD WAR:EHG +4.04% 61 Operating Income is zł543 Mil as of Mar. 2026. GuruFocus rates WAR:EHG with a GF Score™ of 61/100 and a GF Value™ of zł5.25 (Modestly Undervalued). The stock has 4 warning signs investors should review.

Eurohold Bulgaria AD's Operating Income for the three months ended in Mar. 2026 was zł142 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was zł543 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Eurohold Bulgaria AD's Operating Income for the three months ended in Mar. 2026 was zł142 Mil. Eurohold Bulgaria AD's Revenue for the three months ended in Mar. 2026 was zł2,280 Mil. Therefore, Eurohold Bulgaria AD's Operating Margin % for the quarter that ended in Mar. 2026 was 6.22%.

Eurohold Bulgaria AD's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Eurohold Bulgaria AD's annualized ROC % for the quarter that ended in Mar. 2026 was 8.40%. Eurohold Bulgaria AD's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 28.10%.


Eurohold Bulgaria AD  (WAR:EHG) Operating Income Explanation

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

Eurohold Bulgaria AD'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 )
=567.184 * ( 1 - 13.53% )/( (5586.106 + 6094.512)/ 2 )
=490.4440048/5840.309
=8.40 %

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))
=7163.008 - 884.132 - ( 714.204 - max(0, 1713.093 - 2405.863+714.204))
=5586.106

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))
=7298.311 - 572.813 - ( 635.788 - max(0, 1753.753 - 2384.739+635.788))
=6094.512

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

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

Eurohold Bulgaria AD'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 )
=668.348/( ( (2284.465 + max(111.575, 0)) + (2300.741 + max(60.031, 0)) )/ 2 )
=668.348/( ( 2396.04 + 2360.772 )/ 2 )
=668.348/2378.406
=28.10 %

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)
=(982.316 + 95.76 + 274.198) - (884.132 + 0 + 356.567)
=111.575

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(832.498 + 89.279 + 303.796) - (572.813 + 0 + 592.729)
=60.031

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 %:

Eurohold Bulgaria AD'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 )
=141.796/2279.847
=6.22 %

* 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.


Eurohold Bulgaria AD Operating Income Related Terms


Eurohold Bulgaria AD Operating Income Historical Data

* Premium members only.

The historical data trend for Eurohold Bulgaria AD'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.

Eurohold Bulgaria AD Operating Income Chart

Eurohold Bulgaria AD 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 127.28 285.94 203.58 354.38 554.18

Eurohold Bulgaria AD 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 138.79 185.91 104.86 110.49 141.80
WAR:EHG
61GF Score
Eurohold Bulgaria AD WAR:EHG
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Eurohold Bulgaria AD 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 zł543 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 zł543 Mil mean?
Eurohold Bulgaria AD (WAR:EHG) has a Operating Income of zł543 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Eurohold Bulgaria AD and its competitors.
Is Eurohold Bulgaria AD's Operating Income too high?
Eurohold Bulgaria AD's current Operating Income is zł543 Mil. Overall, Eurohold Bulgaria AD has a GF Score™ of 61/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Eurohold Bulgaria AD's Operating Income compare to NEE and SO?
Eurohold Bulgaria AD's Operating Income of zł543 Mil can be compared against companies in the Utilities - Regulated 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 Utilities - Regulated company?
A good Operating Income depends on the Utilities - Regulated 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 Eurohold Bulgaria AD and its competitors. Eurohold Bulgaria AD's current Operating Income is zł543 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Eurohold Bulgaria AD stock overvalued right now?
Based on GuruFocus' analysis, Eurohold Bulgaria AD (WAR:EHG) is currently considered Modestly Undervalued. The stock's GF Value™ is zł5.25, compared to a current price of zł4.64 — trading 11.6% below its estimated fair value. The current Operating Income is zł543 Mil. Eurohold Bulgaria AD's overall GF Score™ is 61/100 with 4 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 Eurohold Bulgaria AD (WAR:EHG), the current Operating Income is zł543 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 Eurohold Bulgaria AD (WAR:EHG) Overvalued in 2026?

Based on GuruFocus' analysis, Eurohold Bulgaria AD stock appears to be undervalued. The current stock price of zł4.64 is trading 11.6% below its estimated GF Value™ of zł5.25. GuruFocus considers Eurohold Bulgaria AD to be Modestly Undervalued.

Key valuation signals for WAR:EHG:

  • Operating Income: zł543 Mil
  • GF Value™: zł5.25 vs. price of zł4.64 (11.6% below fair value)
  • GF Score™: 61/100 with 4 warning signs

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


Eurohold Bulgaria AD Business Description

Other Exchanges KZ4:GermanyEUBG:Bulgaria
Address 43 Christopher Columbus Boulevard, Eurohold Business Centre, Sofia, BGR, 1592
Eurohold Bulgaria AD is a diversified group of companies operating in the fields of energy, insurance and financial services (investment intermediary and asset management). It provides the market with a full range of competitive products and services with future opportunities for rapid growth of the market shares of the companies in the group, optimization of costs, strengthening of competitiveness and increase of consolidated profit. Its segments include Energy consisting of sales of electricity; electricity transmission; electricity generation; information, communication, technological and other services; Insurance consisting of insurance services; and Financial services consisting of asset management and brokerage. It derives the majority of revenue from Energy segment.
61GF Score

Get the complete analysis for WAR:EHG

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

zł4.64
Price
zł5.25
GF Value