CADNF (Cascades) Operating Income: $65,773 Mil (TTM As of Mar. 2026)


CADNF Cascades Inc CADNF
62 GF Score
Price $8.23
GF Value $157.10
Valuation Possible Value Trap
! 2 Warning Signs
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What is Cascades Operating Income?

Cascades CADNF 62 Operating Income is $65,773 Mil as of Mar. 2026. GuruFocus rates CADNF with a GF Score™ of 62/100 and a GF Value™ of $157.10 (Possible Value Trap). The stock has 2 warning signs investors should review.

Cascades's Operating Income for the three months ended in Mar. 2026 was $65,596 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $65,773 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Cascades's Operating Income for the three months ended in Mar. 2026 was $65,596 Mil. Cascades's Revenue for the three months ended in Mar. 2026 was $66,418 Mil. Therefore, Cascades's Operating Margin % for the quarter that ended in Mar. 2026 was 98.76%.

Good Sign:

Cascades Inc operating margin is expanding. Margin expansion is usually a good sign.

Cascades'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. Cascades's annualized ROC % for the quarter that ended in Mar. 2026 was 7,675.81%. Cascades's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 10.97%.


Cascades  (OTCPK:CADNF) Operating Income Explanation

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

Cascades'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 )
=262384.84 * ( 1 - 15.38% )/( (2895.976 + 2889.212)/ 2 )
=222030.051608/2892.594
=7,675.81 %

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))
=3387.459 - 453.788 - ( 37.695 - max(0, 584.995 - 834.36+37.695))
=2895.976

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))
=3456.268 - 502.187 - ( 64.869 - max(0, 584.548 - 893.586+64.869))
=2889.212

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

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

Cascades'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 )
=239.068/( ( (1920.261 + max(227.618, 0)) + (1919.096 + max(292.273, 0)) )/ 2 )
=239.068/( ( 2147.879 + 2211.369 )/ 2 )
=239.068/2179.624
=10.97 %

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)
=(282.711 + 479.159 + 0) - (453.788 + 0 + 80.464)
=227.618

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(323.615 + 496.356 + -0.00100000000009) - (502.187 + 0 + 25.51)
=292.273

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 %:

Cascades'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 )
=65596.21/66417.638
=98.76 %

* 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.


Cascades Operating Income Related Terms


Cascades Operating Income Historical Data

* Premium members only.

The historical data trend for Cascades'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.

Cascades Operating Income Chart

Cascades Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 107.03 106.00 204.23 140.38 213.85

Cascades 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 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 36.22 46.83 54.21 75.39 65,596.21
CADNF
62GF Score
Cascades Inc CADNF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Cascades 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 $65,773 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 $65,773 Mil mean?
Cascades (CADNF) has a Operating Income of $65,773 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Cascades and its competitors.
Is Cascades' Operating Income too high?
Cascades' current Operating Income is $65,773 Mil. Overall, Cascades has a GF Score™ of 62/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Cascades' Operating Income compare to SW and PKG?
Cascades' Operating Income of $65,773 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 Cascades and its competitors. Cascades's current Operating Income is $65,773 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cascades stock overvalued right now?
Based on GuruFocus' analysis, Cascades (CADNF) is currently considered Possible Value Trap. The stock's GF Value™ is $157.10, compared to a current price of $8.23 — trading 94.8% below its estimated fair value. The current Operating Income is $65,773 Mil. Cascades' overall GF Score™ is 62/100 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 Cascades (CADNF), the current Operating Income is $65,773 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 Cascades (CADNF) Overvalued in 2026?

Based on GuruFocus' analysis, Cascades stock appears to be undervalued. The current stock price of $8.23 is trading 94.8% below its estimated GF Value™ of $157.10. GuruFocus considers Cascades to be Possible Value Trap.

Key valuation signals for CADNF:

  • Operating Income: $65,773 Mil
  • GF Value™: $157.10 vs. price of $8.23 (94.8% below fair value)
  • GF Score™: 62/100 with 2 warning signs

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


Cascades Business Description

Other Exchanges CS6:GermanyCAS:Canada
Address 404 Marie-Victorin Boulevard, C.P. 30, Kingsey Falls, QC, CAN, J0A 1B0
Cascades Inc is a paper and packaging company that produces, converts, and sells packaging and tissue products composed predominantly of recycled fibres. Its customer base includes food processing companies, the maintenance industry, the accommodations and housing industry, micro-businesses, and boutiques. The products are marketed through brands such as Cascades Fresh, Cascades Protect, Cascades IMGN, Cascades PRO, and Cascades Fluff & Tuff, among others. The company is organized into two main business segments: Packaging Products and Tissue Papers. A majority of its revenue is generated from the Packaging Product segment. Geographically, the company generates the majority of its revenue from the operations located in Canada.
62GF Score

Get the complete analysis for CADNF

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

$8.23
Price
$157.10
GF Value