Sopharma AD-Sofia (WAR:SPH) Operating Income: zł377 Mil (TTM As of Mar. 2026)

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WAR:SPH Sopharma AD-Sofia WAR:SPH
67 GF Score
Price zł7.56
GF Value zł12.41
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is Sopharma AD-Sofia Operating Income?

Sopharma AD-Sofia WAR:SPH 67 Operating Income is zł377 Mil as of Mar. 2026. GuruFocus rates WAR:SPH with a GF Score™ of 67/100 and a GF Value™ of zł12.41 (Possible Value Trap). The stock has 4 warning signs investors should review.

Sopharma AD-Sofia's Operating Income for the three months ended in Mar. 2026 was zł144 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was zł377 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Sopharma AD-Sofia's Operating Income for the three months ended in Mar. 2026 was zł144 Mil. Sopharma AD-Sofia's Revenue for the three months ended in Mar. 2026 was zł1,549 Mil. Therefore, Sopharma AD-Sofia's Operating Margin % for the quarter that ended in Mar. 2026 was 9.29%.

Good Sign:

Sopharma AD-Sofia operating margin is expanding. Margin expansion is usually a good sign.

Sopharma AD-Sofia's 5-Year average Growth Rate for Operating Margin % was 4.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Sopharma AD-Sofia's annualized ROC % for the quarter that ended in Mar. 2026 was 14.89%. Sopharma AD-Sofia's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 29.84%.


Sopharma AD-Sofia  (WAR:SPH) Operating Income Explanation

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

Sopharma AD-Sofia'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 )
=575.544 * ( 1 - 4.82% )/( (3619.483 + 3737.632)/ 2 )
=547.8027792/3678.5575
=14.89 %

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))
=4704.945 - 923.22 - ( 162.242 - max(0, 1959.213 - 2477.163+162.242))
=3619.483

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))
=4705.229 - 870.457 - ( 97.14 - max(0, 1798.243 - 2477.479+97.14))
=3737.632

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

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

Sopharma AD-Sofia'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 )
=651.48/( ( (924.038 + max(1204.891, 0)) + (917.51 + max(1319.605, 0)) )/ 2 )
=651.48/( ( 2128.929 + 2237.115 )/ 2 )
=651.48/2183.022
=29.84 %

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)
=(935.055 + 1143.476 + 169.142) - (923.22 + 0 + 119.562)
=1204.891

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(962.439 + 1165.533 + 155.855) - (870.457 + 0 + 93.765)
=1319.605

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 %:

Sopharma AD-Sofia'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 )
=143.886/1548.847
=9.29 %

* 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.


Sopharma AD-Sofia Operating Income Related Terms


Sopharma AD-Sofia Operating Income Historical Data

* Premium members only.

The historical data trend for Sopharma AD-Sofia'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.

Sopharma AD-Sofia Operating Income Chart

Sopharma AD-Sofia 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 158.47 181.24 207.35 175.31 330.92

Sopharma AD-Sofia 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 89.94 66.52 102.70 63.51 143.89
WAR:SPH
67GF Score
Sopharma AD-Sofia WAR:SPH
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Sopharma AD-Sofia 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 zł377 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 zł377 Mil mean?
Sopharma AD-Sofia (WAR:SPH) has a Operating Income of zł377 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Sopharma AD-Sofia and its competitors.
Is Sopharma AD-Sofia's Operating Income too high?
Sopharma AD-Sofia's current Operating Income is zł377 Mil. Overall, Sopharma AD-Sofia has a GF Score™ of 67/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Sopharma AD-Sofia's Operating Income compare to MCK and CAH?
Sopharma AD-Sofia's Operating Income of zł377 Mil can be compared against companies in the Medical Distribution 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 Medical Distribution company?
A good Operating Income depends on the Medical Distribution 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 Sopharma AD-Sofia and its competitors. Sopharma AD-Sofia's current Operating Income is zł377 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sopharma AD-Sofia stock overvalued right now?
Based on GuruFocus' analysis, Sopharma AD-Sofia (WAR:SPH) is currently considered Possible Value Trap. The stock's GF Value™ is zł12.41, compared to a current price of zł7.56 — trading 39.1% below its estimated fair value. The current Operating Income is zł377 Mil. Sopharma AD-Sofia's overall GF Score™ is 67/100 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 Sopharma AD-Sofia (WAR:SPH), the current Operating Income is zł377 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 Sopharma AD-Sofia (WAR:SPH) Overvalued in 2026?

Based on GuruFocus' analysis, Sopharma AD-Sofia stock appears to be undervalued. The current stock price of zł7.56 is trading 39.1% below its estimated GF Value™ of zł12.41. GuruFocus considers Sopharma AD-Sofia to be Possible Value Trap.

Key valuation signals for WAR:SPH:

  • Operating Income: zł377 Mil
  • GF Value™: zł12.41 vs. price of zł7.56 (39.1% below fair value)
  • GF Score™: 67/100 with 4 warning signs

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


Sopharma AD-Sofia Business Description

Other Exchanges 3JR:GermanySFA:Bulgaria
Address 5 Lachezar Stanchev Street, Sopharma Business Towers, Building A, Floor 12, Sofia, BGR, 1756
Sopharma AD-Sofia is a company engaged in the production of pharmaceutical products. Its principal activities include the production and trade of medicinal substances and finished drug forms; and research and development as well as engineering and implementation activities in the field of medicinal products. It is also focused on the distribution of pharmaceuticals like medical supplies, sanitary materials, vitamins, food supplements, and cosmetics. The company's segments are the Production of pharmaceutical products; Distribution of pharmaceutical products. It generates the majority of its revenue from the Distribution of pharmaceutical products.
67GF Score

Get the complete analysis for WAR:SPH

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

zł7.56
Price
zł12.41
GF Value