KTHUD (KMD Brands) Operating Income: $-22.5 Mil (TTM As of Jan. 2026)


KTHUD KMD Brands Ltd KTHUD
40 GF Score
Price $0.94
GF Value $3.46
Valuation Possible Value Trap
! 3 Warning Signs
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What is KMD Brands Operating Income?

KMD Brands KTHUD +0.01% 40 Operating Income is $-22.5 Mil as of Jan. 2026. GuruFocus rates KTHUD with a GF Score™ of 40/100 and a GF Value™ of $3.46 (Possible Value Trap). The stock has 3 warning signs investors should review.

KMD Brands's Operating Income for the six months ended in Jan. 2026 was $-4.9 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jan. 2026 was $-22.5 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. KMD Brands's Operating Income for the six months ended in Jan. 2026 was $-4.9 Mil. KMD Brands's Revenue for the six months ended in Jan. 2026 was $292.3 Mil. Therefore, KMD Brands's Operating Margin % for the quarter that ended in Jan. 2026 was -1.67%.

KMD Brands'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. KMD Brands's annualized ROC % for the quarter that ended in Jan. 2026 was -1.26%. KMD Brands's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2026 was -3.29%.


KMD Brands  (OTCPK:KTHUD) Operating Income Explanation

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

KMD Brands's annualized ROC % for the quarter that ended in Jan. 2026 is calculated as:

ROC % (Q: Jan. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jul. 2025 ) + Invested Capital (Q: Jan. 2026 ))/ count )
=-9.786 * ( 1 - 11.75% )/( (675.672 + 690.119)/ 2 )
=-8.636145/682.8955
=-1.26 %

where

Invested Capital(Q: Jul. 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))
=809.258 - 113.044 - ( 20.542 - max(0, 167.549 - 232.288+20.542))
=675.672

Invested Capital(Q: Jan. 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))
=808.475 - 102.304 - ( 16.052 - max(0, 160.853 - 229.355+16.052))
=690.119

Note: The Operating Income data used here is two times the semi-annual (Jan. 2026) data.

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

KMD Brands's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jan. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jul. 2025  Q: Jan. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-9.466/( ( (190.7 + max(92.684, 0)) + (187.738 + max(104.936, 0)) )/ 2 )
=-9.466/( ( 283.384 + 292.674 )/ 2 )
=-9.466/288.029
=-3.29 %

where Working Capital is:

Working Capital(Q: Jul. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(40.518 + 152.21 + 14.685) - (113.044 + 0.352 + 1.333)
=92.684

Working Capital(Q: Jan. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(46.809 + 160.36 + 6.134) - (102.304 + 0.241 + 5.822)
=104.936

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jan. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

KMD Brands's Operating Margin % for the quarter that ended in Jan. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jan. 2026 )/Revenue (Q: Jan. 2026 )
=-4.893/292.34
=-1.67 %

* 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.


KMD Brands Operating Income Related Terms


KMD Brands Operating Income Historical Data

* Premium members only.

The historical data trend for KMD Brands'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.

KMD Brands Operating Income Chart

KMD Brands Annual Data
Trend Jul16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 18.39 29.07 39.14 4.87 -29.09

KMD Brands Semi-Annual Data
Jul16 Jan17 Jul17 Jan18 Jul18 Jan19 Jul19 Jan20 Jul20 Jan21 Jul21 Jan22 Jul22 Jan23 Jul23 Jan24 Jul24 Jan25 Jul25 Jan26
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 -3.41 8.21 -10.82 -17.58 -4.89
KTHUD
40GF Score
KMD Brands Ltd KTHUD
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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KMD Brands 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 Jan. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was $-22.5 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 $-22.5 Mil mean?
KMD Brands (KTHUD) has a Operating Income of $-22.5 Mil as of Jan. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on KMD Brands and its competitors.
Is KMD Brands' Operating Income too high?
KMD Brands' current Operating Income is $-22.5 Mil. Overall, KMD Brands has a GF Score™ of 40/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does KMD Brands' Operating Income compare to RL and LEVI?
KMD Brands' Operating Income of $-22.5 Mil can be compared against companies in the Manufacturing - Apparel & Accessories 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 Manufacturing - Apparel & Accessories company?
A good Operating Income depends on the Manufacturing - Apparel & Accessories 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 KMD Brands and its competitors. KMD Brands's current Operating Income is $-22.5 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KMD Brands stock overvalued right now?
Based on GuruFocus' analysis, KMD Brands (KTHUD) is currently considered Possible Value Trap. The stock's GF Value™ is $3.46, compared to a current price of $0.94 — trading 72.9% below its estimated fair value. The current Operating Income is $-22.5 Mil. KMD Brands' overall GF Score™ is 40/100 with 3 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 KMD Brands (KTHUD), the current Operating Income is $-22.5 Mil as of Jan. 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 KMD Brands (KTHUD) Overvalued in 2026?

Based on GuruFocus' analysis, KMD Brands stock appears to be undervalued. The current stock price of $0.94 is trading 72.9% below its estimated GF Value™ of $3.46. GuruFocus considers KMD Brands to be Possible Value Trap.

Key valuation signals for KTHUD:

  • Operating Income: $-22.5 Mil
  • GF Value™: $3.46 vs. price of $0.94 (72.9% below fair value)
  • GF Score™: 40/100 with 3 warning signs

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


KMD Brands Business Description

Address 223 Tuam Street, Christchurch Central, Christchurch, NZL, 8011
KMD Brands Ltd is a designer, marketer, retailer, and wholesaler of apparel, footwear, and equipment for surfing and the outdoors. The company operates through three brands including Kathmandu, which is a designer, retailer, and wholesaler of apparel footwear, and equipment for outdoor travel and adventure; Rip Curl, which is a designer, manufacturer, wholesaler and retailer of surfing equipment and apparel; and Oboz, which is a designer, wholesaler and online retailer of outdoor footwear. The company generates the majority of its revenue from the Kathmandu segment.
40GF Score

Get the complete analysis for KTHUD

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

$0.94
Price
$3.46
GF Value