SATS ASA (OSL:SATS) Operating Income: kr920 Mil (TTM As of Mar. 2026)


OSL:SATS SATS ASA OSL:SATS
71 GF Score
Price kr40.80
GF Value kr27.85
Valuation Significantly Overvalued
! 4 Warning Signs
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What is SATS ASA Operating Income?

SATS ASA OSL:SATS +0.37% 71 Operating Income is kr920 Mil as of Mar. 2026. GuruFocus rates OSL:SATS with a GF Score™ of 71/100 and a GF Value™ of kr27.85 (Significantly Overvalued). The stock has 4 warning signs investors should review.

SATS ASA's Operating Income for the three months ended in Mar. 2026 was kr221 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was kr920 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. SATS ASA's Operating Income for the three months ended in Mar. 2026 was kr221 Mil. SATS ASA's Revenue for the three months ended in Mar. 2026 was kr1,483 Mil. Therefore, SATS ASA's Operating Margin % for the quarter that ended in Mar. 2026 was 14.90%.

SATS ASA'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. SATS ASA's annualized ROC % for the quarter that ended in Mar. 2026 was 6.59%. SATS ASA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 15.26%.

SATS ASA  (OSL:SATS) Operating Income Explanation

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

SATS 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 )
=884 * ( 1 - 22.06% )/( (10666 + 10238)/ 2 )
=688.9896/10452
=6.59 %

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))
=9639 - 359 - ( 486 - max(0, 2458 - 1072+486))
=10666

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))
=9094 - 266 - ( 400 - max(0, 2315 - 905+400))
=10238

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

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

SATS 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 )
=844/( ( (5686 + max(-1050, 0)) + (5378 + max(-1123, 0)) )/ 2 )
=844/( ( 5686 + 5378 )/ 2 )
=844/5532
=15.26 %

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)
=(160 + 62 + 190) - (359 + 0 + 1103)
=-1050

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(127 + 66 + 23) - (266 + 0 + 1073)
=-1123

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 %:

SATS 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 )
=221/1483
=14.90 %

* 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.

SATS ASA Operating Income Related Terms

SATS ASA Operating Income Historical Data

* Premium members only.

The historical data trend for SATS 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.

SATS ASA Operating Income Chart

SATS 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 -225.00 21.00 607.00 743.00 891.00

SATS 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 193.00 273.00 198.00 228.00 221.00
OSL:SATS
71GF Score
SATS ASA OSL:SATS
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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SATS 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 kr920 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 kr920 Mil mean?
SATS ASA (OSL:SATS) has a Operating Income of kr920 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on SATS ASA and its competitors.
Is SATS ASA's Operating Income too high?
SATS ASA's current Operating Income is kr920 Mil. Overall, SATS ASA has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SATS ASA's Operating Income compare to AS and HAS?
SATS ASA's Operating Income of kr920 Mil can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Operating Income depends on the Travel & Leisure 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 SATS ASA and its competitors. SATS ASA's current Operating Income is kr920 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SATS ASA stock overvalued right now?
Based on GuruFocus' analysis, SATS ASA (OSL:SATS) is currently considered Significantly Overvalued. The stock's GF Value™ is kr27.85, compared to a current price of kr40.80 — trading 46.5% above its estimated fair value. The current Operating Income is kr920 Mil. SATS ASA's overall GF Score™ is 71/100 with 4 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 SATS ASA (OSL:SATS), the current Operating Income is kr920 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 SATS ASA (OSL:SATS) Overvalued in 2026?

Based on GuruFocus' analysis, SATS ASA stock appears to be overvalued. The current stock price of kr40.80 is trading 46.5% above its estimated GF Value™ of kr27.85. GuruFocus considers SATS ASA to be Significantly Overvalued.

Key valuation signals for OSL:SATS:

  • Operating Income: kr920 Mil
  • GF Value™: kr27.85 vs. price of kr40.80 (46.5% above fair value)
  • GF Score™: 71/100 with 4 warning signs

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

SATS ASA Business Description

Address Nydalsveien 28, Oslo, NOR, 0484
SATS ASA is engaged in providing fitness training services in the Nordics for both men and women. The company's training options include studio training for individual strength and cardio training, group training classes, personal trainers specializing in a wide range of areas, boot camps for smaller groups, out-of-club training for members' convenience, and retail shops providing members.
71GF Score

Get the complete analysis for OSL:SATS

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

kr40.80
Price
kr27.85
GF Value