KVHI (KVH Industries) Operating Income: $-8.8 Mil (TTM As of Jun. 2026)

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KVHI KVH Industries Inc KVHI
53 GF Score
Price $7.20
GF Value $6.16
Valuation Modestly Overvalued
! 5 Warning Signs
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What is KVH Industries Operating Income?

KVH Industries KVHI +1.84% 53 Operating Income is $-8.8 Mil as of Jun. 2026. GuruFocus rates KVHI with a GF Score™ of 53/100 and a GF Value™ of $6.16 (Modestly Overvalued). The stock has 5 warning signs investors should review.

KVH Industries's Operating Income for the three months ended in Jun. 2026 was $-0.1 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was $-8.8 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. KVH Industries's Operating Income for the three months ended in Jun. 2026 was $-0.1 Mil. KVH Industries's Revenue for the three months ended in Jun. 2026 was $33.7 Mil. Therefore, KVH Industries's Operating Margin % for the quarter that ended in Jun. 2026 was -0.23%.

Warning Sign:

KVH Industries Inc operating margin has been in a 5-year decline. The average rate of decline per year is -1.9%.

KVH Industries's 5-Year average Growth Rate for Operating Margin % was -1.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. KVH Industries's annualized ROC % for the quarter that ended in Jun. 2026 was -0.16%. KVH Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 2.10%.


KVH Industries  (NAS:KVHI) Operating Income Explanation

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

KVH Industries's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=-0.304 * ( 1 - 55.46% )/( (82.172 + 82.63)/ 2 )
=-0.1354016/82.401
=-0.16 %

where

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

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

KVH Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1.464/( ( (26.451 + max(43.175, 0)) + (25.507 + max(44.394, 0)) )/ 2 )
=1.464/( ( 69.626 + 69.901 )/ 2 )
=1.464/69.7635
=2.10 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(28.812 + 13.224 + 19.884) - (13.24 + 1.974 + 3.531)
=43.175

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(28.665 + 11.856 + 19.77) - (10.647 + 1.273 + 3.977)
=44.394

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

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

KVH Industries's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=-0.076/33.723
=-0.23 %

* 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.


KVH Industries Operating Income Related Terms


KVH Industries Operating Income Historical Data

* Premium members only.

The historical data trend for KVH Industries'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.

KVH Industries Operating Income Chart

KVH Industries 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 -19.60 -5.73 -11.36 -10.75 -11.17

KVH Industries Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 -0.37 -7.63 -0.93 -0.12 -0.08
KVHI
53GF Score
KVH Industries Inc KVHI
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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KVH Industries 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 Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-8.8 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 $-8.8 Mil mean?
KVH Industries (KVHI) has a Operating Income of $-8.8 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on KVH Industries and its competitors.
Is KVH Industries' Operating Income too high?
KVH Industries' current Operating Income is $-8.8 Mil. Overall, KVH Industries has a GF Score™ of 53/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does KVH Industries' Operating Income compare to CABO and RDCM?
KVH Industries' Operating Income of $-8.8 Mil can be compared against companies in the Telecommunication Services 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 Telecommunication Services company?
A good Operating Income depends on the Telecommunication Services 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 KVH Industries and its competitors. KVH Industries's current Operating Income is $-8.8 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KVH Industries stock overvalued right now?
Based on GuruFocus' analysis, KVH Industries (KVHI) is currently considered Modestly Overvalued. The stock's GF Value™ is $6.16, compared to a current price of $7.20 — trading 16.9% above its estimated fair value. The current Operating Income is $-8.8 Mil. KVH Industries' overall GF Score™ is 53/100 with 5 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 KVH Industries (KVHI), the current Operating Income is $-8.8 Mil as of Jun. 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 KVH Industries (KVHI) Overvalued in 2026?

Based on GuruFocus' analysis, KVH Industries stock appears to be overvalued. The current stock price of $7.20 is trading 16.9% above its estimated GF Value™ of $6.16. GuruFocus considers KVH Industries to be Modestly Overvalued.

Key valuation signals for KVHI:

  • Operating Income: $-8.8 Mil
  • GF Value™: $6.16 vs. price of $7.20 (16.9% above fair value)
  • GF Score™: 53/100 with 5 warning signs

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


KVH Industries Business Description

Address 50 Enterprise Center, Middletown, RI, USA, 02842
KVH Industries Inc provides integrated, end-to-end services, software, and hardware that support its customers' need for access to the Internet, VoIP, operations content, and entertainment services. It offers high-speed Internet and Voice over Internet Protocol (VoIP) services via satellite and integrated 5G/LTE cellular communications to mobile users at sea and on land. The company also provides commercially licensed entertainment, including news, sports, music, and movies, to commercial and leisure customers in the maritime, hotel, and retail markets. It operates in several geographic areas, including internationally. Revenues are generated from international locations, mainly consisting of Singapore, Canada, South America, European Union and other European countries, and other regions.
53GF Score

Get the complete analysis for KVHI

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

$7.20
Price
$6.16
GF Value