MDRNF (Modern Plant Based Foods) Operating Income: $-0.28 Mil (TTM As of Feb. 2026)


What is Modern Plant Based Foods Operating Income?

Modern Plant Based Foods MDRNF Operating Income is $-0.28 Mil as of Feb. 2026. The stock has 4 warning signs investors should review.

Modern Plant Based Foods's Operating Income for the three months ended in Feb. 2026 was $-0.05 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was $-0.28 Mil.

Warning Sign:

Modern Plant Based Foods Inc has never been profitable in the past 3 years. It lost money every year.

Operating Margin % is calculated as Operating Income divided by its Revenue. Modern Plant Based Foods's Operating Income for the three months ended in Feb. 2026 was $-0.05 Mil. Modern Plant Based Foods's Revenue for the three months ended in Feb. 2026 was $0.15 Mil. Therefore, Modern Plant Based Foods's Operating Margin % for the quarter that ended in Feb. 2026 was -29.87%.

Good Sign:

Modern Plant Based Foods Inc operating margin is expanding. Margin expansion is usually a good sign.

Modern Plant Based Foods's 5-Year average Growth Rate for Operating Margin % was 38.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Modern Plant Based Foods's annualized ROC % for the quarter that ended in Feb. 2026 was -8.37%. Modern Plant Based Foods's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was -4,533.33%.

Modern Plant Based Foods  (OTCPK:MDRNF) Operating Income Explanation

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

Modern Plant Based Foods's annualized ROC % for the quarter that ended in Feb. 2026 is calculated as:

ROC % (Q: Feb. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Nov. 2025 ) + Invested Capital (Q: Feb. 2026 ))/ count )
=-0.184 * ( 1 - 0% )/( (2.138 + 2.259)/ 2 )
=-0.184/2.1985
=-8.37 %

where

Invested Capital(Q: Nov. 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))
=0.803 - 0.659 - ( 0.09 - max(0, 2.196 - 0.202+0.09))
=2.138

Invested Capital(Q: Feb. 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))
=0.78 - 0.665 - ( 0.05 - max(0, 2.307 - 0.163+0.05))
=2.259

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

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

Modern Plant Based Foods's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Nov. 2025  Q: Feb. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-0.136/( ( (0.003 + max(-0.552, 0)) + (0.003 + max(-0.557, 0)) )/ 2 )
=-0.136/( ( 0.003 + 0.003 )/ 2 )
=-0.136/0.003
=-4,533.33 %

where Working Capital is:

Working Capital(Q: Nov. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.049 + 0.04 + 0.018) - (0.659 + 0.001 + -0.00099999999999945)
=-0.552

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.063 + 0.033 + 0.013) - (0.665 + 0.001 + 0)
=-0.557

When net working capital is negative, 0 is used.

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

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

Modern Plant Based Foods's Operating Margin % for the quarter that ended in Feb. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Feb. 2026 )/Revenue (Q: Feb. 2026 )
=-0.046/0.154
=-29.87 %

* 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.

Modern Plant Based Foods Operating Income Related Terms

Modern Plant Based Foods Operating Income Historical Data

* Premium members only.

The historical data trend for Modern Plant Based Foods'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.

Modern Plant Based Foods Operating Income Chart

Modern Plant Based Foods Annual Data
Trend Oct16 Oct17 Oct18 Oct19 Aug20 Aug21 Aug22 Aug23 Aug24 Aug25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.75 -4.09 -1.13 -0.69 -0.37

Modern Plant Based Foods Quarterly Data
May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
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 -0.02 -0.06 -0.14 -0.04 -0.05

Modern Plant Based Foods 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 Feb. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-0.28 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 $-0.28 Mil mean?
Modern Plant Based Foods (MDRNF) has a Operating Income of $-0.28 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Modern Plant Based Foods and its competitors.
Is Modern Plant Based Foods' Operating Income too high?
Modern Plant Based Foods' current Operating Income is $-0.28 Mil.
How does Modern Plant Based Foods' Operating Income compare to KHC and GIS?
Modern Plant Based Foods' Operating Income of $-0.28 Mil can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Operating Income depends on the Consumer Packaged Goods 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 Modern Plant Based Foods and its competitors. Modern Plant Based Foods's current Operating Income is $-0.28 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Modern Plant Based Foods stock overvalued right now?
Based on GuruFocus' analysis, Modern Plant Based Foods (MDRNF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.08, compared to a current price of $0.05 — trading 34.8% below its estimated fair value. The current Operating Income is $-0.28 Mil. 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 Modern Plant Based Foods (MDRNF), the current Operating Income is $-0.28 Mil as of Feb. 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.

Modern Plant Based Foods Business Description

Other Exchanges L3O0:GermanyMEAT:Canada
Address 700 West Georgia Street, Suite 2500, 25th Floor, Vancouver, BC, CAN, V7Y 1B3
Modern Plant Based Foods Inc is a Canadian food company engaged in developing and selling plant-based meat alternatives made from plants. It offers a portfolio of plant-based products including meat alternatives, dairy-free cheeses, homemade style soups and vegan snacks. The company's product lineup includes the modern burgers, modern crabcakes, modern meatballs, modern crumbles, and sauces. It offers its products through various retail locations in the British Columbia Lower Mainland, as well as on e-commerce platforms. The company's revenue consists of sales of plant-based and health food products to wholesale and retail customers. Geographically, it derives the maximum revenue from Canada.