Aeroports de Paris (WBO:ADPA) Operating Income: €1,319 Mil (TTM As of Dec. 2025)

What is Aeroports de Paris Operating Income?

Aeroports de Paris WBO:ADPA -5.67% 73 Operating Income is €1,319 Mil as of Dec. 2025. GuruFocus rates WBO:ADPA with a GF Score™ of 73/100 and a GF Value™ of €135.86 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Aeroports de Paris's Operating Income for the six months ended in Dec. 2025 was €769 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €1,319 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Aeroports de Paris's Operating Income for the six months ended in Dec. 2025 was €769 Mil. Aeroports de Paris's Revenue for the six months ended in Dec. 2025 was €3,541 Mil. Therefore, Aeroports de Paris's Operating Margin % for the quarter that ended in Dec. 2025 was 21.72%.

Aeroports de Paris'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. Aeroports de Paris's annualized ROC % for the quarter that ended in Dec. 2025 was 5.19%. Aeroports de Paris's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 15.18%.

Aeroports de Paris (WBO:ADPA) Operating Income Explanation

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

Aeroports de Paris's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

	ROC % (Q: Dec. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2025 )	+	Invested Capital (Q: Dec. 2025 ))	/ count )
=	1538 * ( 1 - 35.28% )	/	( (18627	+	19764)	/ 2 )
=	995.3936	/	19195.5
=	5.19 %

where

	Invested Capital		(Q: Jun. 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	))
=	20002	-	969	-	( 1803	-	max(0, 3292	-	3698	+	1803	))
=	18627

	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	))
=	20267	-	945	-	( 1874	-	max(0, 4157	-	3715	+	1874	))
=	19764

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

Aeroports de Paris's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2025 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2025		Q: Dec. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1404	/	( ( (9121 + max(-1006, 0))	+	(9375 + max(-1141, 0)) )	/	2 )
=	1404	/	( ( 9121	+	9375 )	/	2 )
=	1404	/	9248
=	15.18 %

where Working Capital is:

	Working Capital		(Q: Jun. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1180	+	146	+	453)	-	(969	+	0	+	1816)
=	-1006

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1122	+	148	+	459)	-	(945	+	0	+	1925)
=	-1141

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Aeroports de Paris's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2025 )	/	Revenue (Q: Dec. 2025 )
	=	769	/	3541
	=	21.72 %

* 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.

Aeroports de Paris Operating Income Related Terms

Aeroports de Paris Operating Income Historical Data

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The historical data trend for Aeroports de Paris's Operating Income can be seen below:

Aeroports de Paris Operating Income Chart

Aeroports de Paris Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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34.00

923.00

1,166.00

1,285.00

1,319.00

Aeroports de Paris Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Operating Income	Get a 7-Day Free Trial															702.00	679.00	606.00	550.00	769.00

73GF Score

Aeroports de Paris SA WBO:ADPA

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Aeroports de Paris 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was €1,319 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of €1,319 Mil mean?

Aeroports de Paris (WBO:ADPA) has a Operating Income of €1,319 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Aeroports de Paris and its competitors.

Is Aeroports de Paris' Operating Income too high?

Aeroports de Paris' current Operating Income is €1,319 Mil. Overall, Aeroports de Paris has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Aeroports de Paris' Operating Income compare to JOBY?

Aeroports de Paris' Operating Income of €1,319 Mil can be compared against companies in the Transportation 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 Transportation company?

A good Operating Income depends on the Transportation 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 Aeroports de Paris and its competitors. Aeroports de Paris's current Operating Income is €1,319 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Aeroports de Paris stock overvalued right now?

Based on GuruFocus' analysis, Aeroports de Paris (WBO:ADPA) is currently considered Modestly Undervalued. The stock's GF Value™ is €135.86, compared to a current price of €109.80 — trading 19.2% below its estimated fair value. The current Operating Income is €1,319 Mil. Aeroports de Paris' overall GF Score™ is 73/100 with 5 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 Aeroports de Paris (WBO:ADPA), the current Operating Income is €1,319 Mil as of Dec. 2025. 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 Aeroports de Paris (WBO:ADPA) Overvalued in 2026?

Based on GuruFocus' analysis, Aeroports de Paris stock appears to be undervalued. The current stock price of €109.80 is trading 19.2% below its estimated GF Value™ of €135.86. GuruFocus considers Aeroports de Paris to be Modestly Undervalued.

Key valuation signals for WBO:ADPA:

Operating Income: €1,319 Mil
GF Value™: €135.86 vs. price of €109.80 (19.2% below fair value)
GF Score™: 73/100 with 5 warning signs

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

Aeroports de Paris Business Description

Industry Industrials Transportation

Comparable Companies XPAR:GET XPAR:ALO XPAR:AF XPAR:IDL XPAR:STF XPAR:FORE XPAR:MLCFD XPAR:ALGIR XMAD:AENA BKK:AOT MEX:GAPB BOM:532754 XSWX:FHZN MEX:ASURB JOBY SHSE:600009 NZSE:AIA XTER:FRA OCSE:KBHL HSTC:ACV

Other Exchanges ARRPY:USA AEOXF:USA ADPp:UK 0NP8:UK ADP:France W7L:Germany

Address 1 rue de France, Tremblay en France, Paris, FRA, 93290

Website https://www.groupe-adp.com

Aeroports de Paris owns and operates Paris' commercial airports, Charles de Gaulle, Orly, and Paris-Le Bourget, and has equity holdings in TAV Airports and GMR Airports. The Parisian airports operate under a hybrid-till regime, but there is no cross-subsidy, which leaves their commercial businesses largely unregulated. The Parisian business is split between regulated aviation activities, retail and services businesses, and real estate activities. In 2025, retail and services contributed 56% of the group's operating profit, despite generating only 32% of the group's sales. It has a relatively high contribution from its international segment among our European airport coverage, with 28% of group EBITDA deriving from overseas operations in 2025.

73GF Score

Get the complete analysis for WBO:ADPA

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

€109.80

Price

€135.86

GF Value

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