CodeLab Capital AS (OSL:CODE) Operating Income: kr-15.56 Mil (TTM As of Dec. 2025)

What is CodeLab Capital AS Operating Income?

CodeLab Capital AS OSL:CODE -6.91% 47 Operating Income is kr-15.56 Mil as of Dec. 2025. GuruFocus rates OSL:CODE with a GF Score™ of 47/100 and a GF Value™ of kr2.28 (Significantly Overvalued). The stock has 6 warning signs investors should review.

CodeLab Capital AS's Operating Income for the six months ended in Dec. 2025 was kr-9.25 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was kr-15.56 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. CodeLab Capital AS's Operating Income for the six months ended in Dec. 2025 was kr-9.25 Mil. CodeLab Capital AS's Revenue for the six months ended in Dec. 2025 was kr12.43 Mil. Therefore, CodeLab Capital AS's Operating Margin % for the quarter that ended in Dec. 2025 was -74.42%.

Warning Sign:

CodeLab Capital AS operating margin has been in a 5-year decline. The average rate of decline per year is -137.8%.

CodeLab Capital AS's 5-Year average Growth Rate for Operating Margin % was -137.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CodeLab Capital AS's annualized ROC % for the quarter that ended in Dec. 2025 was -70.50%. CodeLab Capital AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -64,728.57%.

CodeLab Capital AS (OSL:CODE) Operating Income Explanation

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

CodeLab Capital AS's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

	ROC % (Q: Dec. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2025 )	+	Invested Capital (Q: Dec. 2025 ))	/ count )
=	-18.5 * ( 1 - 0% )	/	( (3.326	+	49.154)	/ 2 )
=	-18.5	/	26.24
=	-70.50 %

where

	Invested Capital		(Q: Jun. 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	))
=	26.085	-	-0.168	-	( 22.927	-	max(0, -0.042	-	23.053	+	22.927	))
=	3.326

	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	))
=	58.816	-	4.535	-	( 14.388	-	max(0, 13.94	-	19.067	+	14.388	))
=	49.154

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

CodeLab Capital AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2025 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2025		Q: Dec. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-18.124	/	( ( (0.006 + max(0.042, 0))	+	(0.008 + max(-11.137, 0)) )	/	2 )
=	-18.124	/	( ( 0.048	+	0.008 )	/	2 )
=	-18.124	/	0.028
=	-64,728.57 %

where Working Capital is:

	Working Capital		(Q: Jun. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(-0.168	+	0	+	0.126)
=	0.042

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2.264	+	0	+	0.539)	-	(4.535	+	0	+	9.405)
=	-11.137

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

CodeLab Capital AS's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2025 )	/	Revenue (Q: Dec. 2025 )
	=	-9.25	/	12.429
	=	-74.42 %

* 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.

CodeLab Capital AS Operating Income Related Terms

CodeLab Capital AS Operating Income Historical Data

* Premium members only.

The historical data trend for CodeLab Capital AS's Operating Income can be seen below:

CodeLab Capital AS Operating Income Chart

CodeLab Capital AS Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

Get a 7-Day Free Trial

-94.25

-149.20

-111.58

-136.25

-15.90

CodeLab Capital AS Semi-Annual Data
	Dec18	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Operating Income	Get a 7-Day Free Trial									-56.07	-43.93	-92.33	-6.31	-9.25

47GF Score

CodeLab Capital AS OSL:CODE

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

CodeLab Capital AS 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was kr-15.56 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of kr-15.56 Mil mean?

CodeLab Capital AS (OSL:CODE) has a Operating Income of kr-15.56 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on CodeLab Capital AS and its competitors.

Is CodeLab Capital AS's Operating Income too high?

CodeLab Capital AS's current Operating Income is kr-15.56 Mil. Overall, CodeLab Capital AS has a GF Score™ of 47/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does CodeLab Capital AS's Operating Income compare to VEEV and BTSG?

CodeLab Capital AS's Operating Income of kr-15.56 Mil can be compared against companies in the Healthcare Providers & 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 Healthcare Providers & Services company?

A good Operating Income depends on the Healthcare Providers & 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 CodeLab Capital AS and its competitors. CodeLab Capital AS's current Operating Income is kr-15.56 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is CodeLab Capital AS stock overvalued right now?

Based on GuruFocus' analysis, CodeLab Capital AS (OSL:CODE) is currently considered Significantly Overvalued. The stock's GF Value™ is kr2.28, compared to a current price of kr3.50 — trading 53.5% above its estimated fair value. The current Operating Income is kr-15.56 Mil. CodeLab Capital AS's overall GF Score™ is 47/100 with 6 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 CodeLab Capital AS (OSL:CODE), the current Operating Income is kr-15.56 Mil as of Dec. 2025. 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 CodeLab Capital AS (OSL:CODE) Overvalued in 2026?

Based on GuruFocus' analysis, CodeLab Capital AS stock appears to be overvalued. The current stock price of kr3.50 is trading 53.5% above its estimated GF Value™ of kr2.28. GuruFocus considers CodeLab Capital AS to be Significantly Overvalued.

Key valuation signals for OSL:CODE:

Operating Income: kr-15.56 Mil
GF Value™: kr2.28 vs. price of kr3.50 (53.5% above fair value)
GF Score™: 47/100 with 6 warning signs

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

CodeLab Capital AS Business Description

Industry Healthcare Healthcare Providers & Services

Comparable Companies OSL:INDCT OSL:CONTX VEEV ASX:PME BTSG TEM HQY TSE:2413 HNGE TXG DOCS WAY HKSE:02228 PRVA HTFL NSE:IKS SZSE:300253 NSE:SAGILITY OMCL HKSE:01833

Other Exchanges P990:Germany

Address C/o Azets Document Solutions AS, Dm520023, Postboks 1570 Torgarden, Trondheim, NOR, 7435

Website https://www.codelabcapital.com

CodeLab Capital AS builds and invests in next-generation technology. Its primary objective is to invest in other companies and contribute with capital, network, and operations. CodeLab Capital AS is a holding company that, through its subsidiary, is engaged in making software development tools for the broader B2B market.

47GF Score

Get the complete analysis for OSL:CODE

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

kr3.50

Price

kr2.28

GF Value

View OSL:CODE Analysis

See Operating Income data for all stocks →