FSROF (F-Secure) Operating Income: $37.2 Mil (TTM As of Mar. 2026)


FSROF F-Secure Corp FSROF
62 GF Score
Price $2.62
GF Value $2.65
Valuation Fairly Valued
! 10 Warning Signs
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What is F-Secure Operating Income?

F-Secure FSROF +29.06% 62 Operating Income is $37.2 Mil as of Mar. 2026. GuruFocus rates FSROF with a GF Score™ of 62/100 and a GF Value™ of $2.65 (Fairly Valued). The stock has 10 warning signs investors should review.

F-Secure's Operating Income for the three months ended in Mar. 2026 was $6.7 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $37.2 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. F-Secure's Operating Income for the three months ended in Mar. 2026 was $6.7 Mil. F-Secure's Revenue for the three months ended in Mar. 2026 was $42.0 Mil. Therefore, F-Secure's Operating Margin % for the quarter that ended in Mar. 2026 was 15.87%.

Warning Sign:

F-Secure Corp operating margin has been in a 5-year decline. The average rate of decline per year is -12.8%.

F-Secure's 5-Year average Growth Rate for Operating Margin % was -12.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. F-Secure's annualized ROC % for the quarter that ended in Mar. 2026 was 6.63%. F-Secure's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 431.81%.


F-Secure  (OTCPK:FSROF) Operating Income Explanation

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

F-Secure'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 )
=26.672 * ( 1 - 20.92% )/( (326.284 + 310.162)/ 2 )
=21.0922176/318.223
=6.63 %

where

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

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

F-Secure'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 )
=28.072/( ( (6.781 + max(-5.636, 0)) + (6.221 + max(-13.243, 0)) )/ 2 )
=28.072/( ( 6.781 + 6.221 )/ 2 )
=28.072/6.501
=431.81 %

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)
=(29.968 + 0.023 + 7.538) - (3.472 + 0 + 39.693)
=-5.636

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(40.444 + 0.018 + 0.833) - (28.42 + 0 + 26.118)
=-13.243

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 %:

F-Secure'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 )
=6.668/42.014
=15.87 %

* 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.


F-Secure Operating Income Related Terms


F-Secure Operating Income Historical Data

* Premium members only.

The historical data trend for F-Secure'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.

F-Secure Operating Income Chart

F-Secure Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 49.15 40.87 32.17 40.23 41.61

F-Secure Quarterly Data
Mar21 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 10.15 9.50 11.37 9.63 6.67
FSROF
62GF Score
F-Secure Corp FSROF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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F-Secure 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 $37.2 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 $37.2 Mil mean?
F-Secure (FSROF) has a Operating Income of $37.2 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on F-Secure and its competitors.
Is F-Secure's Operating Income too high?
F-Secure's current Operating Income is $37.2 Mil. Overall, F-Secure has a GF Score™ of 62/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does F-Secure's Operating Income compare to MSFT and ORCL?
F-Secure's Operating Income of $37.2 Mil can be compared against companies in the Software 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 Software company?
A good Operating Income depends on the Software 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 F-Secure and its competitors. F-Secure's current Operating Income is $37.2 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is F-Secure stock overvalued right now?
Based on GuruFocus' analysis, F-Secure (FSROF) is currently considered Fairly Valued. The stock's GF Value™ is $2.65, compared to a current price of $2.62 — trading 1.1% below its estimated fair value. The current Operating Income is $37.2 Mil. F-Secure's overall GF Score™ is 62/100 with 10 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 F-Secure (FSROF), the current Operating Income is $37.2 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 F-Secure (FSROF) Overvalued in 2026?

Based on GuruFocus' analysis, F-Secure stock appears to be undervalued. The current stock price of $2.62 is trading 1.1% below its estimated GF Value™ of $2.65. GuruFocus considers F-Secure to be Fairly Valued.

Key valuation signals for FSROF:

  • Operating Income: $37.2 Mil
  • GF Value™: $2.65 vs. price of $2.62 (1.1% below fair value)
  • GF Score™: 62/100 with 10 warning signs

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


F-Secure Business Description

Other Exchanges FSECURE:Finland3I6:Germany
Address Tammasaarenkatu 7, Helsinki, FIN, 00180
F-Secure Corp is engaged in designing and providing a comprehensive range of Cyber-security products and services related to data security, privacy protection as well as privacy protection and digital identity protection of consumer terminal devices, networks, and devices connected to a network, sold in each case either directly or indirectly to consumers. Geographically, the company earns a majority of its revenue from Europe, followed by the Nordic Countries. Its products are F-Secure Total, F-Secure Internet Security, F-Secure VPN, F-Secure ID Protection, and F-Secure Scam Protection.
62GF Score

Get the complete analysis for FSROF

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

$2.62
Price
$2.65
GF Value