Cornish Metals (TSXV:CUSN) Operating Income : C$-4.11 Mil (TTM As of Oct. 2023)

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What is Cornish Metals Operating Income?

Cornish Metals's Operating Income for the three months ended in Oct. 2023 was C$-1.24 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Oct. 2023 was C$-4.11 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Cornish Metals's Operating Income for the three months ended in Oct. 2023 was C$-1.24 Mil. Cornish Metals's Revenue for the three months ended in Oct. 2023 was C$0.00 Mil. Therefore, Cornish Metals's Operating Margin % for the quarter that ended in Oct. 2023 was %.

Cornish Metals'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. Cornish Metals's annualized ROC % for the quarter that ended in Oct. 2023 was -7.71%. Cornish Metals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Oct. 2023 was -7.78%.

Cornish Metals Operating Income Historical Data

The historical data trend for Cornish Metals'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.

Cornish Metals Operating Income Chart

Cornish Metals Annual Data

Trend

Jan13

Jan14

Jan15

Jan16

Jan17

Jan18

Jan19

Jan20

Jan21

Jan22

Operating Income

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-2.06

-2.01

-1.55

-1.69

-2.99

Cornish Metals Quarterly Data
	Jan19	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23
Operating Income	Get a 7-Day Free Trial															-0.73	-0.83	-0.92	-1.12	-1.24

Cornish Metals 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 Oct. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was C$-4.11 Mil.

Cornish Metals (TSXV:CUSN) Operating Income Explanation

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

Cornish Metals's annualized ROC % for the quarter that ended in Oct. 2023 is calculated as:

	ROC % (Q: Oct. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jul. 2023 )	+	Invested Capital (Q: Oct. 2023 ))	/ count )
=	-4.96 * ( 1 - 0.73% )	/	( (60.405	+	67.261)	/ 2 )
=	-4.923792	/	63.833
=	-7.71 %

where

	Invested Capital		(Q: Jul. 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	))
=	104.309	-	3.049	-	( 42.662	-	max(0, 3.049	-	43.904	+	42.662	))
=	60.405

	Invested Capital		(Q: Oct. 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	))
=	102.796	-	2.573	-	( 34.216	-	max(0, 2.573	-	35.535	+	34.216	))
=	67.261

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

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

Cornish Metals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Oct. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Oct. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jul. 2023		Q: Oct. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-4.96	/	( ( (60.32 + max(-1.807, 0))	+	(67.176 + max(-1.254, 0)) )	/	2 )
=	-4.96	/	( ( 60.32	+	67.176 )	/	2 )
=	-4.96	/	63.748
=	-7.78 %

where Working Capital is:

	Working Capital		(Q: Jul. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.955	+	0	+	0.28700000000001)	-	(3.049	+	0	+	0)
=	-1.807

	Working Capital		(Q: Oct. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.005	+	0	+	0.31399999999999)	-	(2.573	+	0	+	0)
=	-1.254

When net working capital is negative, 0 is used.

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

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

Cornish Metals's Operating Margin % for the quarter that ended in Oct. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Oct. 2023 )	/	Revenue (Q: Oct. 2023 )
	=	-1.24	/	0
	=	%

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.

Cornish Metals Operating Income Related Terms

Thank you for viewing the detailed overview of Cornish Metals's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

Cornish Metals (TSXV:CUSN) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Cornish Metals Inc (TSXV:CUSN) » Definitions » Operating Income

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SBWFF:USA CUSN:UK ZYR1:Germany

Address

789 West Pender Street, Suite 960, Vancouver, BC, CAN, V6C 1H2

Website

https://www.cornishmetals.com

Cornish Metals Inc is building a portfolio of strategic metals assets in North America and the United Kingdom, and its flagship project is the past-producing South Crofty underground tin mine in Cornwall, UK. South Crofty is arguably the important historical tin mine in the UK and hosts the highest grade tin resources world wide. The project has the potential to be a high-grade tin producer in Europe.

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