Elmera Group ASA (OSL:ELMRA) Operating Income: kr440 Mil (TTM As of Mar. 2026)

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OSL:ELMRA Elmera Group ASA OSL:ELMRA
64 GF Score
Price kr45.65
GF Value kr35.48
Valuation Modestly Overvalued
! 10 Warning Signs
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What is Elmera Group ASA Operating Income?

Elmera Group ASA OSL:ELMRA 64 Operating Income is kr440 Mil as of Mar. 2026. GuruFocus rates OSL:ELMRA with a GF Score™ of 64/100 and a GF Value™ of kr35.48 (Modestly Overvalued). The stock has 10 warning signs investors should review.

Elmera Group ASA's Operating Income for the three months ended in Mar. 2026 was kr188 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was kr440 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Elmera Group ASA's Operating Income for the three months ended in Mar. 2026 was kr188 Mil. Elmera Group ASA's Revenue for the three months ended in Mar. 2026 was kr6,959 Mil. Therefore, Elmera Group ASA's Operating Margin % for the quarter that ended in Mar. 2026 was 2.70%.

Warning Sign:

Elmera Group ASA operating margin has been in a 5-year decline. The average rate of decline per year is -18.5%.

Elmera Group ASA's 5-Year average Growth Rate for Operating Margin % was -18.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Elmera Group ASA's annualized ROC % for the quarter that ended in Mar. 2026 was 9.79%. Elmera Group ASA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 53.58%.


Elmera Group ASA  (OSL:ELMRA) Operating Income Explanation

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

Elmera Group ASA'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 )
=750.592 * ( 1 - 23.97% )/( (6030.011 + 5629.718)/ 2 )
=570.6750976/5829.8645
=9.79 %

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))
=7104.518 - 930.601 - ( 1371.371 - max(0, 4296.921 - 4440.827+1371.371))
=6030.011

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))
=7058.984 - 1272.217 - ( 664.947 - max(0, 3949.084 - 4106.133+664.947))
=5629.718

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

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

Elmera Group ASA'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 )
=732.78/( ( (82.827 + max(1399.03, 0)) + (86.705 + max(1166.669, 0)) )/ 2 )
=732.78/( ( 1481.857 + 1253.374 )/ 2 )
=732.78/1367.6155
=53.58 %

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)
=(2617.218 + 12.628 + 439.61) - (930.601 + 0 + 739.825)
=1399.03

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2875.589 + 10.88 + 554.717) - (1272.217 + 0 + 1002.3)
=1166.669

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 %:

Elmera Group ASA'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 )
=187.648/6958.834
=2.70 %

* 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.


Elmera Group ASA Operating Income Related Terms


Elmera Group ASA Operating Income Historical Data

* Premium members only.

The historical data trend for Elmera Group ASA'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.

Elmera Group ASA Operating Income Chart

Elmera Group ASA 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 396.46 347.38 376.66 468.12 383.59

Elmera Group ASA Quarterly Data
Jun21 Sep21 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 Premium Member Only Premium Member Only 126.10 74.49 43.98 133.77 187.65
OSL:ELMRA
64GF Score
Elmera Group ASA OSL:ELMRA
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Elmera Group ASA 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 kr440 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 kr440 Mil mean?
Elmera Group ASA (OSL:ELMRA) has a Operating Income of kr440 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Elmera Group ASA and its competitors.
Is Elmera Group ASA's Operating Income too high?
Elmera Group ASA's current Operating Income is kr440 Mil. Overall, Elmera Group ASA has a GF Score™ of 64/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Elmera Group ASA's Operating Income compare to NEE and SO?
Elmera Group ASA's Operating Income of kr440 Mil can be compared against companies in the Utilities - Regulated 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 an Utilities - Regulated company?
A good Operating Income depends on the Utilities - Regulated 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 Elmera Group ASA and its competitors. Elmera Group ASA's current Operating Income is kr440 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Elmera Group ASA stock overvalued right now?
Based on GuruFocus' analysis, Elmera Group ASA (OSL:ELMRA) is currently considered Modestly Overvalued. The stock's GF Value™ is kr35.48, compared to a current price of kr45.65 — trading 28.7% above its estimated fair value. The current Operating Income is kr440 Mil. Elmera Group ASA's overall GF Score™ is 64/100 with 10 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 Elmera Group ASA (OSL:ELMRA), the current Operating Income is kr440 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 Elmera Group ASA (OSL:ELMRA) Overvalued in 2026?

Based on GuruFocus' analysis, Elmera Group ASA stock appears to be overvalued. The current stock price of kr45.65 is trading 28.7% above its estimated GF Value™ of kr35.48. GuruFocus considers Elmera Group ASA to be Modestly Overvalued.

Key valuation signals for OSL:ELMRA:

  • Operating Income: kr440 Mil
  • GF Value™: kr35.48 vs. price of kr45.65 (28.7% above fair value)
  • GF Score™: 64/100 with 10 warning signs

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


Elmera Group ASA Business Description

Other Exchanges FKRAFTo:Sweden1ZK:Germany
Address Folke Bernadottes Vei 38, Fyllingsdalen, Bergen, NOR, 5147
Elmera Group ASA is engaged in the sale of electrical power and related services. The company has three operating segments: Consumer, Business, and Nordic. The Consumer segment comprises the sale of electrical power and related services to private consumers in Norway. The Business segment includes the sale of electrical power and related services to business customers in Norway. The Nordic segment involves the sale of electrical power and related services to consumers in Finland and Sweden. It generates the majority of its revenue from the Consumer segment.
64GF Score

Get the complete analysis for OSL:ELMRA

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

kr45.65
Price
kr35.48
GF Value