US Global Investors (US Global Investors) Operating Income : $0.22 Mil (TTM As of Mar. 2024)

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What is US Global Investors Operating Income?

US Global Investors's Operating Income for the three months ended in Mar. 2024 was $-0.49 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was $0.22 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. US Global Investors's Operating Income for the three months ended in Mar. 2024 was $-0.49 Mil. US Global Investors's Revenue for the three months ended in Mar. 2024 was $2.59 Mil. Therefore, US Global Investors's Operating Margin % for the quarter that ended in Mar. 2024 was -18.78%.

US Global Investors'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. US Global Investors's annualized ROC % for the quarter that ended in Mar. 2024 was 12.32%. US Global Investors's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 10.11%.

US Global Investors Operating Income Historical Data

The historical data trend for US Global Investors'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.

* Premium members only.

US Global Investors Operating Income Chart

US Global Investors Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Operating Income

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-2.76

-2.40

8.17

11.11

3.53

US Global Investors Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Operating Income	Get a 7-Day Free Trial															0.73	0.30	0.22	0.19	-0.49

US Global Investors 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. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.22 Mil.

US Global Investors (NAS:GROW) Operating Income Explanation

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

US Global Investors's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	-1.948 * ( 1 - 187.5% )	/	( (14.424	+	13.237)	/ 2 )
=	1.7045	/	13.8305
=	12.32 %

where

	Invested Capital		(Q: Dec. 2023 )
=	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	))
=	53.632	-	1.65	-	( 37.558	-	max(0, 2.153	-	40.428	+	37.558	))
=	14.424

	Invested Capital		(Q: Mar. 2024 )
=	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	))
=	52.772	-	2.004	-	( 37.531	-	max(0, 2.341	-	40.942	+	37.531	))
=	13.237

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

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

US Global Investors's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	0.164	/	( ( (1.179 + max(0.515, 0))	+	(1.199 + max(0.352, 0)) )	/	2 )
=	0.164	/	( ( 1.694	+	1.551 )	/	2 )
=	0.164	/	1.6225
=	10.11 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.376	+	0	+	1.262)	-	(1.65	+	0	+	0.473)
=	0.515

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.027	+	0	+	1.635)	-	(2.004	+	0	+	0.306)
=	0.352

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. Operating Income is also linked to Operating Margin %:

US Global Investors's Operating Margin % for the quarter that ended in Mar. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	-0.487	/	2.593
	=	-18.78 %

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.

US Global Investors Operating Income Related Terms

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US Global Investors (US Global Investors) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » US Global Investors Inc (NAS:GROW) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

UGL:Germany

Address

7900 Callaghan Road, San Antonio, TX, USA, 78229

Website

https://www.usfunds.com

US Global Investors Inc is a registered investment advisory firm. The company furnishes an investment program for each of the clients it manages and determines, subject to overall supervision by the applicable board of trustees of the clients, the clients investments pursuant to an advisory agreement. US Global manages the following business segments: Investment management services; Investment management services; and Corporate Investments. It derives all its revenue from Investment management services.

Executives

Frank E Holmes	director, 10 percent owner, officer: CEO/CIO	7900 CALLAGHAN ROAD, SAN ANTONIO TX 78229
Jerold H Rubinstein	director	9472 REMBERT LANE, BEVERLY HILLS CA 90210
Lydon Thomas F Jr	director
Roy D Terracina	director	7900 CALLAGHAN RD, SAN ANTONIO TX 78229
Lisa Callicotte	officer: CFO	7900 CALLAGHAN ROAD, SAN ANTONIO TX 78229
Susan B Mcgee	officer: President/General Counsel	7900 CALLAGHAN ROAD, SAN ANTONIO TX 78229
Catherine Ann Rademacher	officer: Chief Financial Officer	7900 CALLAGHAN ROAD, SAN ANTONIO TX 78229
Praetorian Capital Management Llc	10 percent owner	3271 RIVIERA DRIVE, CORAL GABLES FL 33134
Tracy C Peterson	officer: CFO/CAO