BGLAF (BioGaia AB) Operating Income: $44.4 Mil (TTM As of Mar. 2026)

What is BioGaia AB Operating Income?

BioGaia AB BGLAF 100 Operating Income is $44.4 Mil as of Mar. 2026. GuruFocus rates BGLAF with a GF Score™ of 100/100 and a GF Value™ of $12.61 (Fairly Valued). The stock has 5 warning signs investors should review.

BioGaia AB's Operating Income for the three months ended in Mar. 2026 was $10.9 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $44.4 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. BioGaia AB's Operating Income for the three months ended in Mar. 2026 was $10.9 Mil. BioGaia AB's Revenue for the three months ended in Mar. 2026 was $40.0 Mil. Therefore, BioGaia AB's Operating Margin % for the quarter that ended in Mar. 2026 was 27.15%.

Warning Sign:

BioGaia AB operating margin has been in a 5-year decline. The average rate of decline per year is -1.8%.

BioGaia AB's 5-Year average Growth Rate for Operating Margin % was -1.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. BioGaia AB's annualized ROC % for the quarter that ended in Mar. 2026 was 40.71%. BioGaia AB's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 109.78%.

BioGaia AB (OTCPK:BGLAF) Operating Income Explanation

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

BioGaia AB'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: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	43.428 * ( 1 - 21.76% )	/	( (78.625	+	88.317)	/ 2 )
=	33.9780672	/	83.471
=	40.71 %

where

	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	))
=	171.927	-	7.079	-	( 86.223	-	max(0, 21.428	-	131.175	+	86.223	))
=	78.625

	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	))
=	181.884	-	0	-	( 93.567	-	max(0, 28.601	-	141.226	+	93.567	))
=	88.317

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

BioGaia AB'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: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	44.432	/	( ( (19.492 + max(23.415, 0))	+	(18.979 + max(19.058, 0)) )	/	2 )
=	44.432	/	( ( 42.907	+	38.037 )	/	2 )
=	44.432	/	40.472
=	109.78 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(23.26	+	17.938	+	3.645)	-	(7.079	+	0	+	14.349)
=	23.415

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	47.659)	-	(0	+	0	+	28.601)
=	19.058

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

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

BioGaia AB'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 )
	=	10.857	/	39.985
	=	27.15 %

* 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.

BioGaia AB Operating Income Related Terms

BioGaia AB Operating Income Historical Data

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The historical data trend for BioGaia AB's Operating Income can be seen below:

BioGaia AB Operating Income Chart

BioGaia AB Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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26.68

32.23

42.98

37.27

48.63

BioGaia AB Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Operating Income	Get a 7-Day Free Trial															9.59	11.35	9.17	13.02	10.86

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BioGaia AB BGLAF

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BioGaia AB 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 quarterly data reported by the company within the most recent 12 months, which was $44.4 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $44.4 Mil mean?

BioGaia AB (BGLAF) has a Operating Income of $44.4 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on BioGaia AB and its competitors.

Is BioGaia AB's Operating Income too high?

BioGaia AB's current Operating Income is $44.4 Mil. Overall, BioGaia AB has a GF Score™ of 100/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does BioGaia AB's Operating Income compare to ZTS and UTHR?

BioGaia AB's Operating Income of $44.4 Mil can be compared against companies in the Drug Manufacturers 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 Drug Manufacturers company?

A good Operating Income depends on the Drug Manufacturers 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 BioGaia AB and its competitors. BioGaia AB's current Operating Income is $44.4 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is BioGaia AB stock overvalued right now?

Based on GuruFocus' analysis, BioGaia AB (BGLAF) is currently considered Fairly Valued. The stock's GF Value™ is $12.61, compared to a current price of $12.20 — trading 3.3% below its estimated fair value. The current Operating Income is $44.4 Mil. BioGaia AB's overall GF Score™ is 100/100 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 BioGaia AB (BGLAF), the current Operating Income is $44.4 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 BioGaia AB (BGLAF) Overvalued in 2026?

Based on GuruFocus' analysis, BioGaia AB stock appears to be undervalued. The current stock price of $12.20 is trading 3.3% below its estimated GF Value™ of $12.61. GuruFocus considers BioGaia AB to be Fairly Valued.

Key valuation signals for BGLAF:

Operating Income: $44.4 Mil
GF Value™: $12.61 vs. price of $12.20 (3.3% below fair value)
GF Score™: 100/100 with 5 warning signs

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

BioGaia AB Business Description

Industry Healthcare Drug Manufacturers

Comparable Companies OSTO:CRNO B OSTO:ORX OSTO:DICOT OSTO:EQL OSTO:NANEXA OSTO:ENZY OSTO:CINPHA OSTO:MOB OSTO:KLAR XSAT:ACUC XTER:MRK XSWX:GALD TSE:4502 SHSE:600276 NSE:SUNPHARMA LSE:HLN XTAE:TEVA XSWX:SDZ ZTS UTHR

Other Exchanges BIOG B:Sweden 0GTN:UK BGLA:Germany

Address Kungsbroplan 3A, Stockholm, SWE, SE-112 27

Website https://www.biogaiagroup.com

BioGaia AB is a healthcare company engaged in developing, marketing, and selling probiotic products. The company has three operating segments; Paediatrics segment includes drops, gut health tablets, oral rehydration solution (ORS) and cultures to be used as ingredients in licensee products such as infant formula, as well as royalty revenue for pediatric products, Adult Health segment includes gut health tablets, oral health lozenges and cultures as an ingredient in a licensee's dairy products, and Other segment include royalties in respect of development projects, revenue from packaging solutions in the subsidiary CapAble, etc. Geographically, it operates in three regions: EMEA, the Americas, and APAC (Asia-Pacific, Australia, and New Zealand).

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

$12.20

Price

$12.61

GF Value

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