Software Mansion S A (WAR:SWM) Operating Income: zł18.0 Mil (TTM As of Mar. 2026)


WAR:SWM Software Mansion S A WAR:SWM
21 GF Score
Price zł28.30
GF Value zł45.75
Valuation Significantly Undervalued
! 1 Warning Sign
View Full Analysis

What is Software Mansion S A Operating Income?

Software Mansion S A WAR:SWM +3.66% 21 Operating Income is zł18.0 Mil as of Mar. 2026. GuruFocus rates WAR:SWM with a GF Score™ of 21/100 and a GF Value™ of zł45.75 (Significantly Undervalued). The stock has 1 warning sign investors should review.

Software Mansion S A's Operating Income for the three months ended in Mar. 2026 was zł1.9 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was zł18.0 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Software Mansion S A's Operating Income for the three months ended in Mar. 2026 was zł1.9 Mil. Software Mansion S A's Revenue for the three months ended in Mar. 2026 was zł32.9 Mil. Therefore, Software Mansion S A's Operating Margin % for the quarter that ended in Mar. 2026 was 5.88%.

Software Mansion S A'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. Software Mansion S A's annualized ROC % for the quarter that ended in Mar. 2026 was 16.83%. Software Mansion S A's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 49.52%.

Software Mansion S A  (WAR:SWM) Operating Income Explanation

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

Software Mansion S A'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 )
=7.736 * ( 1 - 8.96% )/( (27.672 + 56.015)/ 2 )
=7.0428544/41.8435
=16.83 %

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))
=60.302 - 5.72 - ( 26.91 - max(0, 13.364 - 47.683+26.91))
=27.672

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))
=95.01 - 7.318 - ( 31.677 - max(0, 20.476 - 53.677+31.677))
=56.015

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

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

Software Mansion S A'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 )
=10.592/( ( (8.089 + max(2.34, 0)) + (32.35 + max(-0.040999999999995, 0)) )/ 2 )
=10.592/( ( 10.429 + 32.35 )/ 2 )
=10.592/21.3895
=49.52 %

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)
=(13.685 + 0 + 2.019) - (5.72 + 0 + 7.644)
=2.34

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(16.96 + 0 + -0.00099999999999767) - (7.318 + 0 + 9.682)
=-0.040999999999995

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 %:

Software Mansion S A'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 )
=1.934/32.905
=5.88 %

* 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.

Software Mansion S A Operating Income Related Terms

Software Mansion S A Operating Income Historical Data

* Premium members only.

The historical data trend for Software Mansion S A'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.

Software Mansion S A Operating Income Chart

Software Mansion S A Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
0.00 16.72 12.70 29.78 24.35

Software Mansion S A Quarterly Data
Dec21 Jun22 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 7.70 6.96 2.52 6.56 1.93
WAR:SWM
21GF Score
Software Mansion S A WAR:SWM
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Software Mansion S A 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 zł18.0 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 zł18.0 Mil mean?
Software Mansion S A (WAR:SWM) has a Operating Income of zł18.0 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Software Mansion S A and its competitors.
Is Software Mansion S A's Operating Income too high?
Software Mansion S A's current Operating Income is zł18.0 Mil. Overall, Software Mansion S A has a GF Score™ of 21/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Software Mansion S A's Operating Income compare to MSFT and ORCL?
Software Mansion S A's Operating Income of zł18.0 Mil can be compared against companies in the Software 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 Software company?
A good Operating Income depends on the Software 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 Software Mansion S A and its competitors. Software Mansion S A's current Operating Income is zł18.0 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Software Mansion S A stock overvalued right now?
Based on GuruFocus' analysis, Software Mansion S A (WAR:SWM) is currently considered Significantly Undervalued. The stock's GF Value™ is zł45.75, compared to a current price of zł28.30 — trading 38.1% below its estimated fair value. The current Operating Income is zł18.0 Mil. Software Mansion S A's overall GF Score™ is 21/100 with 1 warning sign 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 Software Mansion S A (WAR:SWM), the current Operating Income is zł18.0 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 Software Mansion S A (WAR:SWM) Overvalued in 2026?

Based on GuruFocus' analysis, Software Mansion S A stock appears to be undervalued. The current stock price of zł28.30 is trading 38.1% below its estimated GF Value™ of zł45.75. GuruFocus considers Software Mansion S A to be Significantly Undervalued.

Key valuation signals for WAR:SWM:

  • Operating Income: zł18.0 Mil
  • GF Value™: zł45.75 vs. price of zł28.30 (38.1% below fair value)
  • GF Score™: 21/100 with 1 warning sign

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

Software Mansion S A Business Description

Address ul. Zab?ocie 43b, Krakow, POL, 30-701
Software Mansion S A is Krakow based software company that deals with solving technological challenges for their clients and developing open-source technologies. It cooperates with a variety of clients, including technological start-ups from Silicon Valley and New York, as well as well-known companies with a stable position on the market. Their portfolio includes projects from industries such as Ed-Tech, Fin-Tech, blockchain, healthcare, e-commerce, multimedia and consumer applications.
21GF Score

Get the complete analysis for WAR:SWM

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

zł28.30
Price
zł45.75
GF Value