Energy Solar Tech (XMAD:ETC) Operating Income: € Mil (TTM As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

XMAD:ETC Energy Solar Tech SA XMAD:ETC
51 GF Score
Price €1.55
GF Value €54.92
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is Energy Solar Tech Operating Income?

Energy Solar Tech XMAD:ETC +3.33% 51 Operating Income is € Mil as of Dec. 2025. GuruFocus rates XMAD:ETC with a GF Score™ of 51/100 and a GF Value™ of €54.92 (Possible Value Trap). The stock has 4 warning signs investors should review.

Energy Solar Tech's Operating Income for the six months ended in Dec. 2025 was €5.07 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Energy Solar Tech's Operating Income for the six months ended in Dec. 2025 was €5.07 Mil. Energy Solar Tech's Revenue for the six months ended in Dec. 2025 was €81.15 Mil. Therefore, Energy Solar Tech's Operating Margin % for the quarter that ended in Dec. 2025 was 6.24%.

Energy Solar Tech'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. Energy Solar Tech's annualized ROC % for the quarter that ended in Dec. 2025 was 8.65%. Energy Solar Tech's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 22.01%.

Energy Solar Tech  (XMAD:ETC) Operating Income Explanation

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

Energy Solar Tech'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: Dec. 2021 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=5.068 * ( 1 - 39.46% )/( (8.121 + 62.838)/ 2 )
=3.0681672/35.4795
=8.65 %

where

Invested Capital(Q: Dec. 2021 )
=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))
=9.391 - 0.483 - ( 2.511 - max(0, 2.635 - 3.422+2.511))
=8.121

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))
=81.665 - 14.906 - ( 5.656 - max(0, 23.261 - 27.182+5.656))
=62.838

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

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

Energy Solar Tech'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: Dec. 2021  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=4.622/( ( (5.803 + max(-1.852, 0)) + (32.857 + max(3.339, 0)) )/ 2 )
=4.622/( ( 5.803 + 36.196 )/ 2 )
=4.622/20.9995
=22.01 %

where Working Capital is:

Working Capital(Q: Dec. 2021 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.576 + 0.151 + 0.00099999999999989) - (0.483 + 0 + 2.097)
=-1.852

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(8.682 + 13.596 + 0.041999999999998) - (14.906 + 0 + 4.075)
=3.339

When net working capital is negative, 0 is used.

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

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

Energy Solar Tech'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 )
=5.068/81.154
=6.24 %

* 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.

Energy Solar Tech Operating Income Related Terms

Energy Solar Tech Operating Income Historical Data

* Premium members only.

The historical data trend for Energy Solar Tech'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.

Energy Solar Tech Operating Income Chart

Energy Solar Tech Annual Data
Trend Dec20 Dec21 Dec25
Operating Income
-0.02 0.28 5.07

Energy Solar Tech Semi-Annual Data
Dec20 Dec21 Dec25
Operating Income -0.02 0.28 5.07
XMAD:ETC
51GF Score
Energy Solar Tech SA XMAD:ETC
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Energy Solar Tech 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was € 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 € Mil mean?
Energy Solar Tech (XMAD:ETC) has a Operating Income of € Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Energy Solar Tech and its competitors.
Is Energy Solar Tech's Operating Income too high?
Energy Solar Tech's current Operating Income is € Mil. Overall, Energy Solar Tech has a GF Score™ of 51/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Energy Solar Tech's Operating Income compare to competitors?
Energy Solar Tech's Operating Income of € Mil can be compared against companies in the Utilities - Independent Power Producers 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 - Independent Power Producers company?
A good Operating Income depends on the Utilities - Independent Power Producers 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 Energy Solar Tech and its competitors. Energy Solar Tech's current Operating Income is € Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Energy Solar Tech stock overvalued right now?
Based on GuruFocus' analysis, Energy Solar Tech (XMAD:ETC) is currently considered Possible Value Trap. The stock's GF Value™ is €54.92, compared to a current price of €1.55 — trading 97.2% below its estimated fair value. The current Operating Income is € Mil. Energy Solar Tech's overall GF Score™ is 51/100 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 Energy Solar Tech (XMAD:ETC), the current Operating Income is € 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 Energy Solar Tech (XMAD:ETC) Overvalued in 2026?

Based on GuruFocus' analysis, Energy Solar Tech stock appears to be undervalued. The current stock price of €1.55 is trading 97.2% below its estimated GF Value™ of €54.92. GuruFocus considers Energy Solar Tech to be Possible Value Trap.

Key valuation signals for XMAD:ETC:

  • Operating Income: € Mil
  • GF Value™: €54.92 vs. price of €1.55 (97.2% below fair value)
  • GF Score™: 51/100 with 4 warning signs

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

Energy Solar Tech Business Description

Other Exchanges ALETC:FranceDH4:Germany
Address C/ Ruso, 18, Las Rozas de Madrid, Madrid, ESP, 28290
Energy Solar Tech SA is a technology company in the energy sector whose mission is to facilitate the migration of companies to renewable energies, The company offers its clients energy generation and efficiency technologies through its offer of energy Outsourcing services under the Energy As A Service model.
51GF Score

Get the complete analysis for XMAD:ETC

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

€1.55
Price
€54.92
GF Value