Evolution AB (CHIX:EVOS) Operating Income: kr13,607 Mil (TTM As of Mar. 2026)


CHIX:EVOS Evolution AB CHIX:EVOS
94 GF Score
Price kr666.80
GF Value kr1,080.59
Valuation Significantly Undervalued
! 1 Warning Sign
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What is Evolution AB Operating Income?

Evolution AB CHIX:EVOS -1.72% 94 Operating Income is kr13,607 Mil as of Mar. 2026. GuruFocus rates CHIX:EVOS with a GF Score™ of 94/100 and a GF Value™ of kr1,080.59 (Significantly Undervalued). The stock has 1 warning sign investors should review.

Evolution AB's Operating Income for the three months ended in Mar. 2026 was kr3,152 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was kr13,607 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Evolution AB's Operating Income for the three months ended in Mar. 2026 was kr3,152 Mil. Evolution AB's Revenue for the three months ended in Mar. 2026 was kr5,526 Mil. Therefore, Evolution AB's Operating Margin % for the quarter that ended in Mar. 2026 was 57.04%.

Good Sign:

Evolution AB operating margin is expanding. Margin expansion is usually a good sign.

Evolution AB's 5-Year average Growth Rate for Operating Margin % was 1.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Evolution AB's annualized ROC % for the quarter that ended in Mar. 2026 was 27.32%. Evolution AB's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 423.67%.

Evolution AB  (CHIX:EVOs) Operating Income Explanation

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

Evolution 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 )
=12607.28 * ( 1 - 16.05% )/( (39219.343 + 38273.765)/ 2 )
=10583.81156/38746.554
=27.32 %

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))
=60089.845 - 11969.299 - ( 8901.203 - max(0, 13618.068 - 22587.634+8901.203))
=39219.343

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))
=62990.121 - 13369.633 - ( 11710.816 - max(0, 14800.378 - 26147.101+11710.816))
=38273.765

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

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

Evolution 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 )
=12607.28/( ( (2862.42 + max(147.304, 0)) + (2941.747 + max(-789.399, 0)) )/ 2 )
=12607.28/( ( 3009.724 + 2941.747 )/ 2 )
=12607.28/2975.7355
=423.67 %

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)
=(4864.516 + 115.744 + 8586.64) - (11969.299 + 0 + 1450.297)
=147.304

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4737.543 + 0 + 9081.911) - (13369.633 + 0 + 1239.22)
=-789.399

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 %:

Evolution 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 )
=3151.82/5526.112
=57.04 %

* 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.

Evolution AB Operating Income Related Terms

Evolution AB Operating Income Historical Data

* Premium members only.

The historical data trend for Evolution AB'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.

Evolution AB Operating Income Chart

Evolution AB 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 6,717.10 9,982.91 12,782.63 14,591.01 13,120.15

Evolution 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 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 3,323.94 3,374.17 3,263.01 3,818.31 3,151.82
CHIX:EVOS
94GF Score
Evolution AB CHIX:EVOS
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Evolution 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 kr13,607 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 kr13,607 Mil mean?
Evolution AB (CHIX:EVOS) has a Operating Income of kr13,607 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Evolution AB and its competitors.
Is Evolution AB's Operating Income too high?
Evolution AB's current Operating Income is kr13,607 Mil. Overall, Evolution AB has a GF Score™ of 94/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Evolution AB's Operating Income compare to FLUT and DKNG?
Evolution AB's Operating Income of kr13,607 Mil can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Operating Income depends on the Travel & Leisure 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 Evolution AB and its competitors. Evolution AB's current Operating Income is kr13,607 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Evolution AB stock overvalued right now?
Based on GuruFocus' analysis, Evolution AB (CHIX:EVOS) is currently considered Significantly Undervalued. The stock's GF Value™ is kr1,080.59, compared to a current price of kr666.80 — trading 38.3% below its estimated fair value. The current Operating Income is kr13,607 Mil. Evolution AB's overall GF Score™ is 94/100 with 1 warning sign 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 Evolution AB (CHIX:EVOS), the current Operating Income is kr13,607 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 Evolution AB (CHIX:EVOS) Overvalued in 2026?

Based on GuruFocus' analysis, Evolution AB stock appears to be undervalued. The current stock price of kr666.80 is trading 38.3% below its estimated GF Value™ of kr1,080.59. GuruFocus considers Evolution AB to be Significantly Undervalued.

Key valuation signals for CHIX:EVOS:

  • Operating Income: kr13,607 Mil
  • GF Value™: kr1,080.59 vs. price of kr666.80 (38.3% below fair value)
  • GF Score™: 94/100 with 1 warning sign

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

Evolution AB Business Description

Address Hamngatan 11, Stockholm, SWE, 111 47
Evolution AB develops, produces, markets, and licenses fully integrated live casino and slots solutions to gaming operators. In live casino, a game presenter (dealer) runs the game from a casino table, which is followed in real time via a video stream, while players place bets on devices such as computers, smartphones, and tablets. Its games include Live Casino, Slots, Game Shows, First Person, Live Blackjack, Live Roulette, Live Baccarat, Super Sic Bo & Dragon Tiger, Live Poker, and Land-Based games. The Company innovates, develops, and produces online casino content on a B2B basis and generates maximum revenue from Europe, followed by North America and other regions.
94GF Score

Get the complete analysis for CHIX:EVOS

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

kr666.80
Price
kr1,080.59
GF Value