KNF (Knife River) Operating Income: $282 Mil (TTM As of Mar. 2026)


KNF Knife River Corp KNF
77 GF Score
Price $81.09
GF Value $86.32
Valuation Fairly Valued
! 1 Warning Sign
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What is Knife River Operating Income?

Knife River KNF +3.55% 77 Operating Income is $282 Mil as of Mar. 2026. GuruFocus rates KNF with a GF Score™ of 77/100 and a GF Value™ of $86.32 (Fairly Valued). The stock has 1 warning sign investors should review.

Knife River's Operating Income for the three months ended in Mar. 2026 was $-86 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $282 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Knife River's Operating Income for the three months ended in Mar. 2026 was $-86 Mil. Knife River's Revenue for the three months ended in Mar. 2026 was $410 Mil. Therefore, Knife River's Operating Margin % for the quarter that ended in Mar. 2026 was -21.03%.

Good Sign:

Knife River Corp operating margin is expanding. Margin expansion is usually a good sign.

Knife River'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. Knife River's annualized ROC % for the quarter that ended in Mar. 2026 was -7.48%. Knife River's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -13.44%.


Knife River  (NYSE:KNF) Operating Income Explanation

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

Knife River'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 )
=-344.932 * ( 1 - 26.42% )/( (3254.382 + 3532.938)/ 2 )
=-253.8009656/3393.66
=-7.48 %

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))
=3650.113 - 272.313 - ( 123.418 - max(0, 377.989 - 960.922+123.418))
=3254.382

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))
=3817.863 - 271.579 - ( 13.346 - max(0, 352.288 - 942.311+13.346))
=3532.938

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

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

Knife River'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 )
=-347.46/( ( (2081.522 + max(364.971, 0)) + (2207.982 + max(516.525, 0)) )/ 2 )
=-347.46/( ( 2446.493 + 2724.507 )/ 2 )
=-347.46/2585.5
=-13.44 %

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)
=(155.836 + 435.714 + 123.76) - (272.313 + 33.773 + 44.253)
=364.971

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(139.789 + 480.531 + 221.153) - (271.579 + 30.301 + 23.068)
=516.525

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 %:

Knife River'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 )
=-86.233/410.131
=-21.03 %

* 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.


Knife River Operating Income Related Terms


Knife River Operating Income Historical Data

* Premium members only.

The historical data trend for Knife River'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.

Knife River Operating Income Chart

Knife River Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 191.08 194.30 296.40 316.19 285.87

Knife River Quarterly Data
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 -82.65 88.08 215.21 65.25 -86.23
KNF
77GF Score
Knife River Corp KNF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Knife River 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 $282 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 $282 Mil mean?
Knife River (KNF) has a Operating Income of $282 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Knife River and its competitors.
Is Knife River's Operating Income too high?
Knife River's current Operating Income is $282 Mil. Overall, Knife River has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Knife River's Operating Income compare to TTAM and EXP?
Knife River's Operating Income of $282 Mil can be compared against companies in the Building Materials 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 Building Materials company?
A good Operating Income depends on the Building Materials 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 Knife River and its competitors. Knife River's current Operating Income is $282 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Knife River stock overvalued right now?
Based on GuruFocus' analysis, Knife River (KNF) is currently considered Fairly Valued. The stock's GF Value™ is $86.32, compared to a current price of $81.09 — trading 6.1% below its estimated fair value. The current Operating Income is $282 Mil. Knife River's overall GF Score™ is 77/100 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 Knife River (KNF), the current Operating Income is $282 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 Knife River (KNF) Overvalued in 2026?

Based on GuruFocus' analysis, Knife River stock appears to be undervalued. The current stock price of $81.09 is trading 6.1% below its estimated GF Value™ of $86.32. GuruFocus considers Knife River to be Fairly Valued.

Key valuation signals for KNF:

  • Operating Income: $282 Mil
  • GF Value™: $86.32 vs. price of $81.09 (6.1% below fair value)
  • GF Score™: 77/100 with 1 warning sign

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


Knife River Business Description

Address 1150 West Century Avenue, P.O. Box 5568, Bismarck, ND, USA, 58506-5568
Knife River Corp is a people-first construction materials and contracting services company. It provides construction materials and contracting services to build safe roads, bridges, airport runways, and other critical infrastructure needs that connect people. The group is a provider of crushed stone, sand, and gravel in the United States. It operates through four reportable segments: West, Mountain, Central, and Energy Services.
77GF Score

Get the complete analysis for KNF

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

$81.09
Price
$86.32
GF Value