Carlo Gavazzi Holding AG (XSWX:GAV) Operating Income: CHF4.6 Mil (TTM As of Mar. 2026)

What is Carlo Gavazzi Holding AG Operating Income?

Carlo Gavazzi Holding AG XSWX:GAV +0.69% 70 Operating Income is CHF4.6 Mil as of Mar. 2026. GuruFocus rates XSWX:GAV with a GF Score™ of 70/100 and a GF Value™ of CHF203.96 (Modestly Undervalued). The stock has 4 warning signs investors should review.

Carlo Gavazzi Holding AG's Operating Income for the six months ended in Mar. 2026 was CHF3.4 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was CHF4.6 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Carlo Gavazzi Holding AG's Operating Income for the six months ended in Mar. 2026 was CHF3.4 Mil. Carlo Gavazzi Holding AG's Revenue for the six months ended in Mar. 2026 was CHF68.8 Mil. Therefore, Carlo Gavazzi Holding AG's Operating Margin % for the quarter that ended in Mar. 2026 was 4.89%.

Warning Sign:

Carlo Gavazzi Holding AG operating margin has been in a 5-year decline. The average rate of decline per year is -25%.

Carlo Gavazzi Holding AG's 5-Year average Growth Rate for Operating Margin % was -25.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Carlo Gavazzi Holding AG's annualized ROC % for the quarter that ended in Mar. 2026 was 6.78%. Carlo Gavazzi Holding AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 8.03%.

Carlo Gavazzi Holding AG (XSWX:GAV) Operating Income Explanation

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

Carlo Gavazzi Holding AG'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: Sep. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	6.734 * ( 1 - 18.65% )	/	( (74.854	+	86.764)	/ 2 )
=	5.478109	/	80.809
=	6.78 %

where

	Invested Capital		(Q: Sep. 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	))
=	170.018	-	25.344	-	( 69.82	-	max(0, 31.211	-	137.485	+	69.82	))
=	74.854

	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	))
=	175.424	-	19.938	-	( 68.722	-	max(0, 35.838	-	142.345	+	68.722	))
=	86.764

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

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

Carlo Gavazzi Holding AG'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: Sep. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	4.32	/	( ( (18.999 + max(31.86, 0))	+	(18.494 + max(38.2, 0)) )	/	2 )
=	4.32	/	( ( 50.859	+	56.694 )	/	2 )
=	4.32	/	53.7765
=	8.03 %

where Working Capital is:

	Working Capital		(Q: Sep. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(24.418	+	35.96	+	2.8421709430404E-14)	-	(25.344	+	0	+	3.174)
=	31.86

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(26.445	+	38.653	+	6.538)	-	(19.938	+	0	+	13.498)
=	38.2

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

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

Carlo Gavazzi Holding AG'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 )
	=	3.367	/	68.814
	=	4.89 %

* 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.

Carlo Gavazzi Holding AG Operating Income Related Terms

Carlo Gavazzi Holding AG Operating Income Historical Data

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The historical data trend for Carlo Gavazzi Holding AG's Operating Income can be seen below:

Carlo Gavazzi Holding AG Operating Income Chart

Carlo Gavazzi Holding AG Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Operating Income

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30.80

39.22

25.20

6.43

4.64

Carlo Gavazzi Holding AG Semi-Annual Data
	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Operating Income	Get a 7-Day Free Trial															8.84	3.29	3.14	1.27	3.37

70GF Score

Carlo Gavazzi Holding AG XSWX:GAV

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

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Carlo Gavazzi Holding AG 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 semi-annually data reported by the company within the most recent 12 months, which was CHF4.6 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of CHF4.6 Mil mean?

Carlo Gavazzi Holding AG (XSWX:GAV) has a Operating Income of CHF4.6 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Carlo Gavazzi Holding AG and its competitors.

Is Carlo Gavazzi Holding AG's Operating Income too high?

Carlo Gavazzi Holding AG's current Operating Income is CHF4.6 Mil. Overall, Carlo Gavazzi Holding AG has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Carlo Gavazzi Holding AG's Operating Income compare to VRT and BE?

Carlo Gavazzi Holding AG's Operating Income of CHF4.6 Mil can be compared against companies in the Industrial Products 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 Industrial Products company?

A good Operating Income depends on the Industrial Products 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 Carlo Gavazzi Holding AG and its competitors. Carlo Gavazzi Holding AG's current Operating Income is CHF4.6 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Carlo Gavazzi Holding AG stock overvalued right now?

Based on GuruFocus' analysis, Carlo Gavazzi Holding AG (XSWX:GAV) is currently considered Modestly Undervalued. The stock's GF Value™ is CHF203.96, compared to a current price of CHF145.00 — trading 28.9% below its estimated fair value. The current Operating Income is CHF4.6 Mil. Carlo Gavazzi Holding AG's overall GF Score™ is 70/100 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 Carlo Gavazzi Holding AG (XSWX:GAV), the current Operating Income is CHF4.6 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 Carlo Gavazzi Holding AG (XSWX:GAV) Overvalued in 2026?

Based on GuruFocus' analysis, Carlo Gavazzi Holding AG stock appears to be undervalued. The current stock price of CHF145.00 is trading 28.9% below its estimated GF Value™ of CHF203.96. GuruFocus considers Carlo Gavazzi Holding AG to be Modestly Undervalued.

Key valuation signals for XSWX:GAV:

Operating Income: CHF4.6 Mil
GF Value™: CHF203.96 vs. price of CHF145.00 (28.9% below fair value)
GF Score™: 70/100 with 4 warning signs

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

Carlo Gavazzi Holding AG Business Description

Industry Industrials Industrial Products

Comparable Companies XSWX:LECN SZSE:300750 XSWX:ABBN VRT BKK:DELTA TSE:6503 BE XKRX:373220 MIL:PRY SZSE:300274 XPAR:LR BSP:WEGE3 SHSE:688808 SHSE:600522 HUBB NVT SZSE:300124 SZSE:000988 XKRX:006400 XKRX:267260

Other Exchanges GAVz:UK 0QL5:UK D9N0:Germany

Address Sumpfstrasse 3, Steinhausen, CHE, CH-6312

Website https://www.carlogavazzi.com

Carlo Gavazzi Holding AG is engaged in the designing, manufacturing, and marketing of electronic control components for industrial and building automation markets. The product portfolio of the company comprises sensors, monitoring relays, timers, energy management systems, solid-state relays, safety devices, Fieldbus systems, and others. Its products are marketed through a network of sales companies and independent national distributors. It has operational footprints across Switzerland, Italy, other Europe, the Middle East and Africa, the United States of America, other North America, and Asia.

70GF Score

Get the complete analysis for XSWX:GAV

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

CHF145.00

Price

CHF203.96

GF Value

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