Steppe Gold (TSX:STGO) EBIT: C$134.3 Mil (TTM As of Mar. 2026)


TSX:STGO Steppe Gold Ltd TSX:STGO
77 GF Score
Price C$1.28
GF Value C$1.07
Valuation Modestly Overvalued
! 2 Warning Signs
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What is Steppe Gold EBIT?

Steppe Gold TSX:STGO -4.48% 77 EBIT is C$134.3 Mil as of Mar. 2026. GuruFocus rates TSX:STGO with a GF Score™ of 77/100 and a GF Value™ of C$1.07 (Modestly Overvalued). The stock has 2 warning signs investors should review.

Steppe Gold's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was C$37.9 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was C$134.3 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Steppe Gold's annualized ROC % for the quarter that ended in Mar. 2026 was 46.13%. Steppe Gold's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 74.05%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Steppe Gold's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 56.24%.


Steppe Gold  (TSX:STGO) EBIT Explanation

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

Steppe Gold'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 )
=196.708 * ( 1 - 23.78% )/( (311.351 + 338.672)/ 2 )
=149.9308376/325.0115
=46.13 %

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))
=494.382 - 34.961 - ( 237.379 - max(0, 151.588 - 299.658+237.379))
=311.351

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))
=518.425 - 34.749 - ( 244.677 - max(0, 170.54 - 315.544+244.677))
=338.672

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

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

Steppe Gold'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 )
=151.42/( ( (193.308 + max(4.332, 0)) + (199.297 + max(12.043, 0)) )/ 2 )
=151.42/( ( 197.64 + 211.34 )/ 2 )
=151.42/204.49
=74.05 %

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)
=(2.916 + 48.561 + 6.947) - (34.961 + 0.116 + 19.015)
=4.332

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 60.412 + 6.677) - (34.749 + 0 + 20.297)
=12.043

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. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Steppe Gold's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=134.27/238.741
=56.24 %

* 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.


Steppe Gold EBIT Related Terms


Steppe Gold EBIT Historical Data

* Premium members only.

The historical data trend for Steppe Gold's EBIT 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.

Steppe Gold EBIT Chart

Steppe Gold Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.17 30.32 111.84 131.57 115.03

Steppe Gold Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT 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 19.22 20.80 18.43 57.18 37.86

TSX:STGO vs NEM, AU: EBIT Comparison

For the Gold subindustry, Steppe Gold's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Steppe Gold EV-to-EBIT vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Steppe Gold's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Steppe Gold's EV-to-EBIT falls into.


TSX:STGO
77GF Score
Steppe Gold Ltd TSX:STGO
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Steppe Gold EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT 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 C$134.3 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 EBIT →
What does a EBIT of C$134.3 Mil mean?
Steppe Gold (TSX:STGO) has a EBIT of C$134.3 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Steppe Gold.
Is Steppe Gold's EBIT too high?
Steppe Gold's current EBIT is C$134.3 Mil. Overall, Steppe Gold has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Steppe Gold's EBIT compare to NEM and AU?
Steppe Gold's EBIT of C$134.3 Mil can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Metals & Mining company?
A good EBIT depends on the Metals & Mining industry context. However, EBIT 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 EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Steppe Gold. Steppe Gold's current EBIT is C$134.3 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Steppe Gold stock overvalued right now?
Based on GuruFocus' analysis, Steppe Gold (TSX:STGO) is currently considered Modestly Overvalued. The stock's GF Value™ is C$1.07, compared to a current price of C$1.28 — trading 19.6% above its estimated fair value. The current EBIT is C$134.3 Mil. Steppe Gold's overall GF Score™ is 77/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Steppe Gold (TSX:STGO), the current EBIT is C$134.3 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 Steppe Gold (TSX:STGO) Overvalued in 2026?

Based on GuruFocus' analysis, Steppe Gold stock appears to be overvalued. The current stock price of C$1.28 is trading 19.6% above its estimated GF Value™ of C$1.07. GuruFocus considers Steppe Gold to be Modestly Overvalued.

Key valuation signals for TSX:STGO:

  • EBIT: C$134.3 Mil
  • GF Value™: C$1.07 vs. price of C$1.28 (19.6% above fair value)
  • GF Score™: 77/100 with 2 warning signs

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


Steppe Gold Business Description

Other Exchanges STPGF:USA2J9:Germany
Address Peace Avenue 17, 7th floor, Blue Sky Tower, Sukhbaatar District 1, Ulaanbaatar, MNG, 14241
Steppe Gold Ltd is engaged in operating, developing, exploring, and acquiring precious metal projects in Mongolia. The company's commercially producing mine is the Altan Tsagaan Ovoo Property (the ATO Project, or ATO Gold Mine), located in Eastern Mongolia. In addition, it owns the Boroo and Ulaanbulag mines (together as the Boroo Project), and holds interest rights in the Uudam Khundii (UK) project in Mongolia. The company derives its revenue from the sale of gold and silver to banks in Mongolia at London Metal Exchange-based spot rates. A majority of its revenue is generated from the sale of gold.
77GF Score

Get the complete analysis for TSX:STGO

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

C$1.28
Price
C$1.07
GF Value