The influence of catching and processing factors on fillet yield, gaping and number of nematodes in cod (Gadus morhua) was studied. The study was carried out in co-operation with four Icelandic fishery companies. Data on catch, condition of raw material and processing were linked together by tracing the cod from catch through primary processing. Analysis of these data show that important variables for profitability in the fish industry are strongly correlated to controllable variables, such as catch ground, catch method and age of raw material when processed. The results can aid in decision making for catching and processing cod, provided that strong relationship exists between different links in the value chain of cod.