Sika AG (XSWX:SIKA) Operating Income: CHF1,523 Mil (TTM As of Dec. 2025)

What is Sika AG Operating Income?

Sika AG XSWX:SIKA -1.37% 84 Operating Income is CHF1,523 Mil as of Dec. 2025. GuruFocus rates XSWX:SIKA with a GF Score™ of 84/100 and a GF Value™ of CHF240.83 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Sika AG's Operating Income for the six months ended in Dec. 2025 was CHF725 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was CHF1,523 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Sika AG's Operating Income for the six months ended in Dec. 2025 was CHF725 Mil. Sika AG's Revenue for the six months ended in Dec. 2025 was CHF5,525 Mil. Therefore, Sika AG's Operating Margin % for the quarter that ended in Dec. 2025 was 13.12%.

Warning Sign:

Sika AG operating margin has been in a 5-year decline. The average rate of decline per year is -1.3%.

Sika AG's 5-Year average Growth Rate for Operating Margin % was -1.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Sika AG's annualized ROC % for the quarter that ended in Dec. 2025 was 8.82%. Sika AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 35.34%.

Sika AG (XSWX:SIKA) Operating Income Explanation

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

Sika AG'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 )
=	1449.8 * ( 1 - 20.42% )	/	( (13315.7	+	12847.1)	/ 2 )
=	1153.75084	/	13081.4
=	8.82 %

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	))
=	15393.3	-	1557.2	-	( 520.4	-	max(0, 2797.2	-	4653.3	+	520.4	))
=	13315.7

	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	))
=	15148.3	-	1493.6	-	( 807.6	-	max(0, 3527.2	-	4411.2	+	807.6	))
=	12847.1

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:

Sika AG'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 )
=	1391.6	/	( ( (2404.2 + max(1693.4, 0))	+	(2443.8 + max(1334.1, 0)) )	/	2 )
=	1391.6	/	( ( 4097.6	+	3777.9 )	/	2 )
=	1391.6	/	3937.75
=	35.34 %

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)
=	(2369.6	+	1382.1	+	77.8)	-	(1557.2	+	0	+	578.9)
=	1693.4

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2012.3	+	1237.5	+	220.5)	-	(1493.6	+	0	+	642.6)
=	1334.1

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 %:

Sika AG'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 )
	=	724.9	/	5524.9
	=	13.12 %

* 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.

Sika AG Operating Income Related Terms

Sika AG Operating Income Historical Data

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The historical data trend for Sika AG's Operating Income can be seen below:

Sika AG Operating Income Chart

Sika AG Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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1,391.40

1,579.70

1,559.40

1,713.90

1,523.00

Sika AG 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															805.40	822.20	891.70	798.10	724.90

84GF Score

Sika AG XSWX:SIKA

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

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Sika 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was CHF1,523 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of CHF1,523 Mil mean?

Sika AG (XSWX:SIKA) has a Operating Income of CHF1,523 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Sika AG and its competitors.

Is Sika AG's Operating Income too high?

Sika AG's current Operating Income is CHF1,523 Mil. Overall, Sika AG has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Sika AG's Operating Income compare to LIN and SHW?

Sika AG's Operating Income of CHF1,523 Mil can be compared against companies in the Chemicals 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 Chemicals company?

A good Operating Income depends on the Chemicals 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 Sika AG and its competitors. Sika AG's current Operating Income is CHF1,523 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Sika AG stock overvalued right now?

Based on GuruFocus' analysis, Sika AG (XSWX:SIKA) is currently considered Modestly Undervalued. The stock's GF Value™ is CHF240.83, compared to a current price of CHF172.25 — trading 28.5% below its estimated fair value. The current Operating Income is CHF1,523 Mil. Sika AG's overall GF Score™ is 84/100 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 Sika AG (XSWX:SIKA), the current Operating Income is CHF1,523 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 Sika AG (XSWX:SIKA) Overvalued in 2026?

Based on GuruFocus' analysis, Sika AG stock appears to be undervalued. The current stock price of CHF172.25 is trading 28.5% below its estimated GF Value™ of CHF240.83. GuruFocus considers Sika AG to be Modestly Undervalued.

Key valuation signals for XSWX:SIKA:

Operating Income: CHF1,523 Mil
GF Value™: CHF240.83 vs. price of CHF172.25 (28.5% below fair value)
GF Score™: 84/100 with 5 warning signs

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

Sika AG Business Description

Industry Basic Materials Chemicals

Comparable Companies XSWX:GIVN XSWX:EMSN XSWX:CLN XSWX:GURN LIN XPAR:AI SHW ECL APD SHSE:603256 TPE:1303 SHSE:600309 SHSE:688146 OCSE:NSIS B PPG BOM:500820 XAMS:DSFIR XSGO:SQM-B ADX:BOROUGE IFF

Other Exchanges SXYAY:USA SKFOF:USA 1SIKA:Italy SIKAz:UK 0Z4C:UK SIKA:Germany SIKA:Canada

Address Zugerstrasse 50, Baar, CHE, 6340

Website https://www.sika.com

Established in 1910, Sika produces specialty chemicals primarily used by the construction sector (85% of sales). Its products are mainly used for bonding, sealing, reinforcing, and protecting in the construction and automotive industries. Approximately 70% of its products have a positive impact on sustainability for customers. Sika has a global manufacturing footprint of more than 400 factories spread across over 100 countries.

84GF Score

Get the complete analysis for XSWX:SIKA

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

CHF172.25

Price

CHF240.83

GF Value

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