Starcore International Mines (Starcore International Mines) Operating Income : $-2.36 Mil (TTM As of Jan. 2023)

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What is Starcore International Mines Operating Income?

Starcore International Mines's Operating Income for the three months ended in Jan. 2023 was $-1.59 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jan. 2023 was $-2.36 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Starcore International Mines's Operating Income for the three months ended in Jan. 2023 was $-1.59 Mil. Starcore International Mines's Revenue for the three months ended in Jan. 2023 was $4.59 Mil. Therefore, Starcore International Mines's Operating Margin % for the quarter that ended in Jan. 2023 was -34.52%.

Starcore International Mines'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. Starcore International Mines's annualized ROC % for the quarter that ended in Jan. 2023 was -18.72%. Starcore International Mines's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2023 was -23.59%.

Starcore International Mines Operating Income Historical Data

The historical data trend for Starcore International Mines'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.

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Starcore International Mines Operating Income Chart

Starcore International Mines Annual Data

Trend

Jul12

Jul13

Jul14

Jul15

Apr17

Apr18

Apr19

Apr20

Apr21

Apr22

Operating Income

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-8.13

-3.18

-1.06

2.73

1.21

Starcore International Mines Quarterly Data
	Apr18	Jul18	Oct18	Jan19	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23
Operating Income	Get a 7-Day Free Trial															-0.38	0.60	-0.28	-1.09	-1.59

Starcore International Mines 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 Jan. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-2.36 Mil.

Starcore International Mines (OTCPK:SHVLF) Operating Income Explanation

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

Starcore International Mines's annualized ROC % for the quarter that ended in Jan. 2023 is calculated as:

	ROC % (Q: Jan. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Oct. 2022 )	+	Invested Capital (Q: Jan. 2023 ))	/ count )
=	-6.34 * ( 1 - 11.94% )	/	( (30.06	+	29.577)	/ 2 )
=	-5.583004	/	29.8185
=	-18.72 %

where

	Invested Capital		(Q: Oct. 2022 )
=	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	))
=	38.948	-	2.162	-	( 6.726	-	max(0, 2.406	-	9.988	+	6.726	))
=	30.06

	Invested Capital		(Q: Jan. 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	))
=	36.954	-	1.82	-	( 5.557	-	max(0, 1.975	-	8.257	+	5.557	))
=	29.577

Note: The Operating Income data used here is four times the quarterly (Jan. 2023) data.

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

Starcore International Mines's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jan. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Oct. 2022		Q: Jan. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-6.208	/	( ( (26.547 + max(-0.051000000000001, 0))	+	(26.08 + max(-0.298, 0)) )	/	2 )
=	-6.208	/	( ( 26.547	+	26.08 )	/	2 )
=	-6.208	/	26.3135
=	-23.59 %

where Working Capital is:

	Working Capital		(Q: Oct. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.107	+	1.786	+	0.218)	-	(2.162	+	0	+	4.4408920985006E-16)
=	-0.051000000000001

	Working Capital		(Q: Jan. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.102	+	1.166	+	0.254)	-	(1.82	+	0	+	0)
=	-0.298

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jan. 2023) EBIT data.

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

Starcore International Mines's Operating Margin % for the quarter that ended in Jan. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Jan. 2023 )	/	Revenue (Q: Jan. 2023 )
	=	-1.585	/	4.591
	=	-34.52 %

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.

Starcore International Mines Operating Income Related Terms

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Starcore International Mines (Starcore International Mines) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Starcore International Mines Ltd (OTCPK:SHVLF) » Definitions » Operating Income

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V4JA:Germany SAM:Canada

Address

580 Hornby Street, Suite 750 Box 113, Vancouver, BC, CAN, V6C 3B6

Website

https://www.starcore.com

Starcore International Mines Ltd is in the business of exploration, development, and production of minerals. It has got products in various stages The San Martin being the primary source of operating cash flows. In Mexico, the business holds an interest in the silver and gold processing plant. Some of its projects include San Martin, El Creston, and Toiyabe among others. The majority of the organization's revenue comes from Bernal, Mexico.

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