BGOUF (Bang & Olufsen AS) Operating Income: $-13.5 Mil (TTM As of May. 2026)

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BGOUF Bang & Olufsen AS BGOUF
60 GF Score
Price $1.36
GF Value $1.23
Valuation Modestly Overvalued
! 2 Warning Signs
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What is Bang & Olufsen AS Operating Income?

Bang & Olufsen AS BGOUF 60 Operating Income is $-13.5 Mil as of May. 2026. GuruFocus rates BGOUF with a GF Score™ of 60/100 and a GF Value™ of $1.23 (Modestly Overvalued). The stock has 2 warning signs investors should review.

Bang & Olufsen AS's Operating Income for the six months ended in May. 2026 was $-1.7 Mil. Its Operating Income for the trailing twelve months (TTM) ended in May. 2026 was $-13.5 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Bang & Olufsen AS's Operating Income for the six months ended in May. 2026 was $-1.7 Mil. Bang & Olufsen AS's Revenue for the six months ended in May. 2026 was $199.3 Mil. Therefore, Bang & Olufsen AS's Operating Margin % for the quarter that ended in May. 2026 was -0.86%.

Bang & Olufsen AS'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. Bang & Olufsen AS's annualized ROC % for the quarter that ended in May. 2026 was 0.00%. Bang & Olufsen AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2026 was 19.12%.


Bang & Olufsen AS  (OTCPK:BGOUF) Operating Income Explanation

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

Bang & Olufsen AS's annualized ROC % for the quarter that ended in May. 2026 is calculated as:

ROC % (Q: May. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Nov. 2025 ) + Invested Capital (Q: May. 2026 ))/ count )
=-3.438 * ( 1 - 100% )/( (226.907 + 246.823)/ 2 )
=-0/236.865
=0.00 %

where

Invested Capital(Q: Nov. 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))
=355.064 - 80.021 - ( 58.352 - max(0, 164.531 - 212.667+58.352))
=226.907

Invested Capital(Q: May. 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))
=347.334 - 52.053 - ( 58.462 - max(0, 141.153 - 189.611+58.462))
=246.823

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

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

Bang & Olufsen AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: May. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Nov. 2025  Q: May. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=18.758/( ( (54.947 + max(30.955, 0)) + (74.719 + max(35.641, 0)) )/ 2 )
=18.758/( ( 85.902 + 110.36 )/ 2 )
=18.758/98.131
=19.12 %

where Working Capital is:

Working Capital(Q: Nov. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(61.602 + 75.378 + 8.977) - (80.021 + 0 + 34.981)
=30.955

Working Capital(Q: May. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(46.895 + 63.308 + 11.411) - (52.053 + 0 + 33.92)
=35.641

When net working capital is negative, 0 is used.

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

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

Bang & Olufsen AS's Operating Margin % for the quarter that ended in May. 2026 is calculated as:

Operating Margin %=Operating Income (Q: May. 2026 )/Revenue (Q: May. 2026 )
=-1.719/199.303
=-0.86 %

* 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.


Bang & Olufsen AS Operating Income Related Terms


Bang & Olufsen AS Operating Income Historical Data

* Premium members only.

The historical data trend for Bang & Olufsen AS'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.

Bang & Olufsen AS Operating Income Chart

Bang & Olufsen AS Annual Data
Trend May17 May18 May19 May20 May21 May22 May23 May24 May25 May26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.53 -18.09 2.61 2.42 -13.60

Bang & Olufsen AS Semi-Annual Data
Nov16 May17 Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24 May25 Nov25 May26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.17 -1.71 4.23 -11.76 -1.72
BGOUF
60GF Score
Bang & Olufsen AS BGOUF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Bang & Olufsen AS 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 May. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was $-13.5 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 $-13.5 Mil mean?
Bang & Olufsen AS (BGOUF) has a Operating Income of $-13.5 Mil as of May. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Bang & Olufsen AS and its competitors.
Is Bang & Olufsen AS's Operating Income too high?
Bang & Olufsen AS's current Operating Income is $-13.5 Mil. Overall, Bang & Olufsen AS has a GF Score™ of 60/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bang & Olufsen AS's Operating Income compare to AAPL?
Bang & Olufsen AS's Operating Income of $-13.5 Mil can be compared against companies in the Hardware 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 Hardware company?
A good Operating Income depends on the Hardware 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 Bang & Olufsen AS and its competitors. Bang & Olufsen AS's current Operating Income is $-13.5 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bang & Olufsen AS stock overvalued right now?
Based on GuruFocus' analysis, Bang & Olufsen AS (BGOUF) is currently considered Modestly Overvalued. The stock's GF Value™ is $1.23, compared to a current price of $1.36 — trading 10.6% above its estimated fair value. The current Operating Income is $-13.5 Mil. Bang & Olufsen AS's overall GF Score™ is 60/100 with 2 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 Bang & Olufsen AS (BGOUF), the current Operating Income is $-13.5 Mil as of May. 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 Bang & Olufsen AS (BGOUF) Overvalued in 2026?

Based on GuruFocus' analysis, Bang & Olufsen AS stock appears to be overvalued. The current stock price of $1.36 is trading 10.6% above its estimated GF Value™ of $1.23. GuruFocus considers Bang & Olufsen AS to be Modestly Overvalued.

Key valuation signals for BGOUF:

  • Operating Income: $-13.5 Mil
  • GF Value™: $1.23 vs. price of $1.36 (10.6% above fair value)
  • GF Score™: 60/100 with 2 warning signs

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


Bang & Olufsen AS Business Description

Address Bang og Olufsen Alle 1, Struer, DNK, 7600
Bang & Olufsen AS designs, develops, and markets audio and video products including music systems, loudspeakers, television sets, headphones, other multimedia products, and related accessories. Its operating segments include EMEA, which is the company's key revenue-generating segment, followed by the Americas and Asia-Pacific (APAC). The company generates maximum revenue from the Staged product category, followed by On-the-go, Flexible Living, and Brand Partnering and other activities.
60GF Score

Get the complete analysis for BGOUF

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

$1.36
Price
$1.23
GF Value