Vetropack Holding AG (XSWX:VETN) Operating Income: CHF36.7 Mil (TTM As of Dec. 2025)

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Vetropack Holding AG XSWX:VETN

54 GF Score

Price CHF18.62

GF Value CHF27.56

Valuation Significantly Undervalued

9 Warning Signs

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What is Vetropack Holding AG Operating Income?

Vetropack Holding AG XSWX:VETN +0.32% 54 Operating Income is CHF36.7 Mil as of Dec. 2025. GuruFocus rates XSWX:VETN with a GF Score™ of 54/100 and a GF Value™ of CHF27.56 (Significantly Undervalued). The stock has 9 warning signs investors should review.

Vetropack Holding AG's Operating Income for the six months ended in Dec. 2025 was CHF14.5 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was CHF36.7 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Vetropack Holding AG's Operating Income for the six months ended in Dec. 2025 was CHF14.5 Mil. Vetropack Holding AG's Revenue for the six months ended in Dec. 2025 was CHF366.2 Mil. Therefore, Vetropack Holding AG's Operating Margin % for the quarter that ended in Dec. 2025 was 3.96%.

Warning Sign:

Vetropack Holding AG operating margin has been in a 5-year decline. The average rate of decline per year is -14.5%.

Vetropack Holding AG's 5-Year average Growth Rate for Operating Margin % was -14.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Vetropack Holding AG's annualized ROC % for the quarter that ended in Dec. 2025 was 2.83%. Vetropack Holding AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 0.16%.

Vetropack Holding AG (XSWX:VETN) Operating Income Explanation

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

Vetropack Holding 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 )
=	29 * ( 1 - 0% )	/	( (1075.5	+	971.2)	/ 2 )
=	29	/	1023.35
=	2.83 %

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	))
=	1229.3	-	102.3	-	( 51.5	-	max(0, 240.8	-	425.9	+	51.5	))
=	1075.5

	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	))
=	1211.3	-	143.3	-	( 96.8	-	max(0, 240.8	-	429.5	+	96.8	))
=	971.2

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:

Vetropack Holding 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 )
=	1.4	/	( ( (770 + max(105.7, 0))	+	(749.5 + max(83.8, 0)) )	/	2 )
=	1.4	/	( ( 875.7	+	833.3 )	/	2 )
=	1.4	/	854.5
=	0.16 %

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)
=	(169.5	+	177	+	0)	-	(102.3	+	0	+	138.5)
=	105.7

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(120.8	+	191.4	+	12.4)	-	(143.3	+	0	+	97.5)
=	83.8

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 %:

Vetropack Holding 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 )
	=	14.5	/	366.2
	=	3.96 %

* 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.

Vetropack Holding AG Operating Income Related Terms

Vetropack Holding AG Operating Income Historical Data

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

Vetropack Holding AG Operating Income Chart

Vetropack Holding AG Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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80.70

90.40

91.20

57.80

36.70

Vetropack Holding 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															21.40	37.50	20.30	22.20	14.50

54GF Score

Vetropack Holding AG XSWX:VETN

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

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Vetropack 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was CHF36.7 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of CHF36.7 Mil mean?

Vetropack Holding AG (XSWX:VETN) has a Operating Income of CHF36.7 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Vetropack Holding AG and its competitors.

Is Vetropack Holding AG's Operating Income too high?

Vetropack Holding AG's current Operating Income is CHF36.7 Mil. Overall, Vetropack Holding AG has a GF Score™ of 54/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Vetropack Holding AG's Operating Income compare to SW and PKG?

Vetropack Holding AG's Operating Income of CHF36.7 Mil can be compared against companies in the Packaging & Containers 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 Packaging & Containers company?

A good Operating Income depends on the Packaging & Containers 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 Vetropack Holding AG and its competitors. Vetropack Holding AG's current Operating Income is CHF36.7 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Vetropack Holding AG stock overvalued right now?

Based on GuruFocus' analysis, Vetropack Holding AG (XSWX:VETN) is currently considered Significantly Undervalued. The stock's GF Value™ is CHF27.56, compared to a current price of CHF18.62 — trading 32.4% below its estimated fair value. The current Operating Income is CHF36.7 Mil. Vetropack Holding AG's overall GF Score™ is 54/100 with 9 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 Vetropack Holding AG (XSWX:VETN), the current Operating Income is CHF36.7 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 Vetropack Holding AG (XSWX:VETN) Overvalued in 2026?

Based on GuruFocus' analysis, Vetropack Holding AG stock appears to be undervalued. The current stock price of CHF18.62 is trading 32.4% below its estimated GF Value™ of CHF27.56. GuruFocus considers Vetropack Holding AG to be Significantly Undervalued.

Key valuation signals for XSWX:VETN:

Operating Income: CHF36.7 Mil
GF Value™: CHF27.56 vs. price of CHF18.62 (32.4% below fair value)
GF Score™: 54/100 with 9 warning signs

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

Vetropack Holding AG Business Description

Industry Consumer Cyclical Packaging & Containers

Comparable Companies SW PKG IP AMCR BALL AVY CCK TSX:CCL.A SZSE:002812 OHEL:STERV SZSE:002831 XSWX:SIGN REYN SON SLGN TSE:5901 GEF BKK:SCGP XMAD:VID GPK

Other Exchanges VETNz:UK VV2N:Germany

Address Schutzenmattstrasse 48, Bulach, CHE, 8180

Website https://www.vetropack.com

Vetropack Holding AG is a glass packaging manufacturer serving the food and beverage industry. The company offers services including package design, production, and just-in-time delivery to consulting and support services in the area of packaging analysis, bottling, conditioning, closure technology, decorative refinement, and labelling. It has its production and distribution facilities in Switzerland, Austria, the Czech Republic, Slovakia, Croatia, Ukraine, and Italy. There are two segments: Glass packaging, and Specialty glass (Switzerland), the maximum of revenue is from Glass Packing.

54GF Score

Get the complete analysis for XSWX:VETN

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

CHF18.62

Price

CHF27.56

GF Value

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