Norsk Titanium AS (OSL:NTI) Operating Income: kr-313.12 Mil (TTM As of Dec. 2025)

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OSL:NTI Norsk Titanium AS OSL:NTI
78 GF Score
Price kr1.03
GF Value kr1.01
Valuation Fairly Valued
! 7 Warning Signs
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What is Norsk Titanium AS Operating Income?

Norsk Titanium AS OSL:NTI 78 Operating Income is kr-313.12 Mil as of Dec. 2025. GuruFocus rates OSL:NTI with a GF Score™ of 78/100 and a GF Value™ of kr1.01 (Fairly Valued). The stock has 7 warning signs investors should review.

Norsk Titanium AS's Operating Income for the six months ended in Dec. 2025 was kr-152.74 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was kr-313.12 Mil.

Warning Sign:

Norsk Titanium AS 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. Norsk Titanium AS's Operating Income for the six months ended in Dec. 2025 was kr-152.74 Mil. Norsk Titanium AS's Revenue for the six months ended in Dec. 2025 was kr14.93 Mil. Therefore, Norsk Titanium AS's Operating Margin % for the quarter that ended in Dec. 2025 was -1,023.14%.

Good Sign:

Norsk Titanium AS operating margin is expanding. Margin expansion is usually a good sign.

Norsk Titanium AS's 5-Year average Growth Rate for Operating Margin % was 34.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Norsk Titanium AS's annualized ROC % for the quarter that ended in Dec. 2025 was -186.78%. Norsk Titanium AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -293.50%.


Norsk Titanium AS  (OSL:NTI) Operating Income Explanation

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

Norsk Titanium 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 )
=-305.47 * ( 1 - 0% )/( (160.86 + 166.228)/ 2 )
=-305.47/163.544
=-186.78 %

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))
=374.339 - 15.878 - ( 192.233 - max(0, 57.498 - 310.625+192.233))
=166.228

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:

Norsk Titanium 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 )
=-313.132/( ( (48.4 + max(54.802, 0)) + (48.402 + max(61.773, 0)) )/ 2 )
=-313.132/( ( 103.202 + 110.175 )/ 2 )
=-313.132/106.6885
=-293.50 %

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)
=(10.464 + 86.929 + 17.158) - (19.169 + 0 + 40.58)
=54.802

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(12.411 + 88.779 + 13.462) - (15.878 + 0 + 37.001)
=61.773

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 %:

Norsk Titanium 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 )
=-152.735/14.928
=-1,023.14 %

* 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.


Norsk Titanium AS Operating Income Related Terms


Norsk Titanium AS Operating Income Historical Data

* Premium members only.

The historical data trend for Norsk Titanium 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.

Norsk Titanium AS Operating Income Chart

Norsk Titanium AS Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial -180.56 -209.04 -266.08 -297.03 -314.00

Norsk Titanium 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -130.49 -137.44 -151.76 -160.39 -152.74
OSL:NTI
78GF Score
Norsk Titanium AS OSL:NTI
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Norsk Titanium 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-313.12 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 kr-313.12 Mil mean?
Norsk Titanium AS (OSL:NTI) has a Operating Income of kr-313.12 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Norsk Titanium AS and its competitors.
Is Norsk Titanium AS's Operating Income too high?
Norsk Titanium AS's current Operating Income is kr-313.12 Mil. Overall, Norsk Titanium AS has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Norsk Titanium AS's Operating Income compare to SPCX and GE?
Norsk Titanium AS's Operating Income of kr-313.12 Mil can be compared against companies in the Aerospace & Defense 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 Aerospace & Defense company?
A good Operating Income depends on the Aerospace & Defense 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 Norsk Titanium AS and its competitors. Norsk Titanium AS's current Operating Income is kr-313.12 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Norsk Titanium AS stock overvalued right now?
Based on GuruFocus' analysis, Norsk Titanium AS (OSL:NTI) is currently considered Fairly Valued. The stock's GF Value™ is kr1.01, compared to a current price of kr1.03 — trading 2.4% above its estimated fair value. The current Operating Income is kr-313.12 Mil. Norsk Titanium AS's overall GF Score™ is 78/100 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 Norsk Titanium AS (OSL:NTI), the current Operating Income is kr-313.12 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 Norsk Titanium AS (OSL:NTI) Overvalued in 2026?

Based on GuruFocus' analysis, Norsk Titanium AS stock appears to be overvalued. The current stock price of kr1.03 is trading 2.4% above its estimated GF Value™ of kr1.01. GuruFocus considers Norsk Titanium AS to be Fairly Valued.

Key valuation signals for OSL:NTI:

  • Operating Income: kr-313.12 Mil
  • GF Value™: kr1.01 vs. price of kr1.03 (2.4% above fair value)
  • GF Score™: 78/100 with 7 warning signs

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


Norsk Titanium AS Business Description

Other Exchanges NORSF:USA84F:Germany
Address Flyplassveien 20, Honefoss, NOR, 3514
Norsk Titanium AS is in metal 3D printing. The company uses its proprietary Rapid Plasma Deposition (RPD) technology for cost-efficient 3D printing of metal alloys. This technology enables the production of value-added parts that are suitable for a large market. The company's focus is on high-end structural applications that require the use of titanium parts, which offer substantial benefits compared to traditional materials and production methods. The company caters to high-complexity markets such as commercial aerospace and defense, which allows it to deliver value propositions and position itself for expansion into other markets. Geographically, the company generates revenue from Norway, Europe, and the USA.
78GF Score

Get the complete analysis for OSL:NTI

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

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