Masoval AS (OSL:MAS) Operating Income: kr92 Mil (TTM As of Mar. 2026)


OSL:MAS Masoval AS OSL:MAS
88 GF Score
Price kr32.50
GF Value kr31.11
Valuation Fairly Valued
! 7 Warning Signs
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What is Masoval AS Operating Income?

Masoval AS OSL:MAS -3.56% 88 Operating Income is kr92 Mil as of Mar. 2026. GuruFocus rates OSL:MAS with a GF Score™ of 88/100 and a GF Value™ of kr31.11 (Fairly Valued). The stock has 7 warning signs investors should review.

Masoval AS's Operating Income for the three months ended in Mar. 2026 was kr-54 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was kr92 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Masoval AS's Operating Income for the three months ended in Mar. 2026 was kr-54 Mil. Masoval AS's Revenue for the three months ended in Mar. 2026 was kr510 Mil. Therefore, Masoval AS's Operating Margin % for the quarter that ended in Mar. 2026 was -10.52%.

Masoval AS'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. Masoval AS's annualized ROC % for the quarter that ended in Mar. 2026 was -2.62%. Masoval AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -12.39%.


Masoval AS  (OSL:MAS) Operating Income Explanation

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

Masoval AS'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 )
=-214.58 * ( 1 - 45.28% )/( (4491.827 + 4455.253)/ 2 )
=-117.418176/4473.54
=-2.62 %

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))
=5074.634 - 493.269 - ( 89.538 - max(0, 1119.055 - 1380.03+89.538))
=4491.827

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))
=4983.443 - 498.713 - ( 29.477 - max(0, 1185.434 - 1371.814+29.477))
=4455.253

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

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

Masoval AS'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 )
=-214.084/( ( (1151.997 + max(590.522, 0)) + (1100.012 + max(612.919, 0)) )/ 2 )
=-214.084/( ( 1742.519 + 1712.931 )/ 2 )
=-214.084/1727.725
=-12.39 %

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)
=(83.819 + 1060.175 + 13.85) - (493.269 + 0 + 74.053)
=590.522

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(169.231 + 1039.755 + 0) - (498.713 + 0 + 97.354)
=612.919

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 %:

Masoval AS'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 )
=-53.645/509.753
=-10.52 %

* 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.


Masoval AS Operating Income Related Terms


Masoval AS Operating Income Historical Data

* Premium members only.

The historical data trend for Masoval AS'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.

Masoval AS Operating Income Chart

Masoval AS Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 397.90 930.73 361.33 196.00 -54.54

Masoval AS 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 -199.82 203.07 5.14 -62.93 -53.65
OSL:MAS
88GF Score
Masoval AS OSL:MAS
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Masoval 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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was kr92 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 kr92 Mil mean?
Masoval AS (OSL:MAS) has a Operating Income of kr92 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Masoval AS and its competitors.
Is Masoval AS's Operating Income too high?
Masoval AS's current Operating Income is kr92 Mil. Overall, Masoval AS has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Masoval AS's Operating Income compare to ADM and BG?
Masoval AS's Operating Income of kr92 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 Masoval AS and its competitors. Masoval AS's current Operating Income is kr92 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Masoval AS stock overvalued right now?
Based on GuruFocus' analysis, Masoval AS (OSL:MAS) is currently considered Fairly Valued. The stock's GF Value™ is kr31.11, compared to a current price of kr32.50 — trading 4.5% above its estimated fair value. The current Operating Income is kr92 Mil. Masoval AS's overall GF Score™ is 88/100 with 7 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 Masoval AS (OSL:MAS), the current Operating Income is kr92 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 Masoval AS (OSL:MAS) Overvalued in 2026?

Based on GuruFocus' analysis, Masoval AS stock appears to be overvalued. The current stock price of kr32.50 is trading 4.5% above its estimated GF Value™ of kr31.11. GuruFocus considers Masoval AS to be Fairly Valued.

Key valuation signals for OSL:MAS:

  • Operating Income: kr92 Mil
  • GF Value™: kr31.11 vs. price of kr32.50 (4.5% above fair value)
  • GF Score™: 88/100 with 7 warning signs

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


Masoval AS Business Description

Other Exchanges 9QP:Germany
Address Nordfroyveien 413, Sistranda, NOR, 7260
Masoval AS owns, operates, and develops companies in the aquaculture industry, which contribute to positive ripple effects and value creation throughout the region. The group is organized into business units based on its activities and has two operating segments: Farming and Sales & processing. The Farming segment includes the purchase of salmon roe, farming on land and sea, related service activities, and the sale of salmon to exporters. The Sales and Processing segment includes harvesting activities and the sale of salmon and other species of fish in Norway and for export. The firm generates the majority of its revenue from the Sales & processing segment. The firm generates revenue from Norway, Europe (excluding Norway), Asia, and Other countries.
88GF Score

Get the complete analysis for OSL:MAS

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

kr32.50
Price
kr31.11
GF Value