FNNNF (Finnair Oyj) Operating Income: $19 Mil (TTM As of Mar. 2026)


FNNNF Finnair Oyj FNNNF
68 GF Score
Price $5.73
GF Value $3.28
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Finnair Oyj Operating Income?

Finnair Oyj FNNNF +17.32% 68 Operating Income is $19 Mil as of Mar. 2026. GuruFocus rates FNNNF with a GF Score™ of 68/100 and a GF Value™ of $3.28 (Significantly Overvalued). The stock has 7 warning signs investors should review.

Finnair Oyj's Operating Income for the three months ended in Mar. 2026 was $-35 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $19 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Finnair Oyj's Operating Income for the three months ended in Mar. 2026 was $-35 Mil. Finnair Oyj's Revenue for the three months ended in Mar. 2026 was $900 Mil. Therefore, Finnair Oyj's Operating Margin % for the quarter that ended in Mar. 2026 was -3.89%.

Finnair Oyj'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. Finnair Oyj's annualized ROC % for the quarter that ended in Mar. 2026 was -2.60%. Finnair Oyj's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 1.80%.


Finnair Oyj  (OTCPK:FNNNF) Operating Income Explanation

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

Finnair Oyj'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 )
=-140.116 * ( 1 - 20.18% )/( (4232.201 + 4369.248)/ 2 )
=-111.8405912/4300.7245
=-2.60 %

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))
=4317.213 - 113.934 - ( 1242.389 - max(0, 1595.667 - 1566.745+1242.389))
=4232.201

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))
=4836.994 - 116.416 - ( 1393.526 - max(0, 1871.329 - 2222.659+1393.526))
=4369.248

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

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

Finnair Oyj'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 )
=41.156/( ( (2310.539 + max(-1156.908, 0)) + (2268.439 + max(-833.641, 0)) )/ 2 )
=41.156/( ( 2310.539 + 2268.439 )/ 2 )
=41.156/2289.489
=1.80 %

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)
=(108.548 + 58.665 + 58.548) - (113.934 + 0 + 1268.735)
=-1156.908

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(225.202 + 127.283 + 476.648) - (116.416 + 0 + 1546.358)
=-833.641

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 %:

Finnair Oyj'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 )
=-35.029/899.538
=-3.89 %

* 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.


Finnair Oyj Operating Income Related Terms


Finnair Oyj Operating Income Historical Data

* Premium members only.

The historical data trend for Finnair Oyj'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.

Finnair Oyj Operating Income Chart

Finnair Oyj 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 -513.22 -212.50 223.77 120.52 75.53

Finnair Oyj 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 -88.11 1.96 37.68 13.93 -35.03
FNNNF
68GF Score
Finnair Oyj FNNNF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Finnair Oyj 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 $19 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 $19 Mil mean?
Finnair Oyj (FNNNF) has a Operating Income of $19 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Finnair Oyj and its competitors.
Is Finnair Oyj's Operating Income too high?
Finnair Oyj's current Operating Income is $19 Mil. Overall, Finnair Oyj has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Finnair Oyj's Operating Income compare to DAL and UAL?
Finnair Oyj's Operating Income of $19 Mil can be compared against companies in the Transportation 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 Transportation company?
A good Operating Income depends on the Transportation 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 Finnair Oyj and its competitors. Finnair Oyj's current Operating Income is $19 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Finnair Oyj stock overvalued right now?
Based on GuruFocus' analysis, Finnair Oyj (FNNNF) is currently considered Significantly Overvalued. The stock's GF Value™ is $3.28, compared to a current price of $5.73 — trading 74.5% above its estimated fair value. The current Operating Income is $19 Mil. Finnair Oyj's overall GF Score™ is 68/100 with 7 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 Finnair Oyj (FNNNF), the current Operating Income is $19 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 Finnair Oyj (FNNNF) Overvalued in 2026?

Based on GuruFocus' analysis, Finnair Oyj stock appears to be overvalued. The current stock price of $5.73 is trading 74.5% above its estimated GF Value™ of $3.28. GuruFocus considers Finnair Oyj to be Significantly Overvalued.

Key valuation signals for FNNNF:

  • Operating Income: $19 Mil
  • GF Value™: $3.28 vs. price of $5.73 (74.5% above fair value)
  • GF Score™: 68/100 with 7 warning signs

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


Finnair Oyj Business Description

Address Tietotie 9 A Helsinki Airport, PO Box 15, Vantaa, FIN, 01053
Finnair Oyj is a Finland-based airline company that provides air transport operations and supporting services. The company is engaged in delivering services for scheduled passenger and charter traffic as well as cargo sales, customer service and service concepts, flight operations, and activities connected with the procurement and financing of aircraft. The company also provides travel services which consist of travel agency operations as well as tour operations and travel sector software business operations. It operates in only one segment which is Airline Business. Its travel services provide various traveling packages to customers through its travel operators and travel agencies, support services include catering services, Aircraft maintenance, ground handling, and Airline training.
68GF Score

Get the complete analysis for FNNNF

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

$5.73
Price
$3.28
GF Value