AAMTF (Armada Mercantile) Operating Income: $0.03 Mil (TTM As of Feb. 2026)

What is Armada Mercantile Operating Income?

Armada Mercantile AAMTF 42 Operating Income is $0.03 Mil as of Feb. 2026. GuruFocus rates AAMTF with a GF Score™ of 42/100 and a GF Value™ of $0.25 (Fairly Valued). The stock has 1 warning sign investors should review.

Armada Mercantile's Operating Income for the three months ended in Feb. 2026 was $0.05 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was $0.03 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Armada Mercantile's Operating Income for the three months ended in Feb. 2026 was $0.05 Mil. Armada Mercantile's Revenue for the three months ended in Feb. 2026 was $0.08 Mil. Therefore, Armada Mercantile's Operating Margin % for the quarter that ended in Feb. 2026 was 58.97%.

Armada Mercantile'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. Armada Mercantile's annualized ROC % for the quarter that ended in Feb. 2026 was 31.51%. Armada Mercantile's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was %.

Armada Mercantile (OTCPK:AAMTF) Operating Income Explanation

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

Armada Mercantile's annualized ROC % for the quarter that ended in Feb. 2026 is calculated as:

	ROC % (Q: Feb. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Nov. 2025 )	+	Invested Capital (Q: Feb. 2026 ))	/ count )
=	0.184 * ( 1 - 0% )	/	( (0.576	+	0.592)	/ 2 )
=	0.184	/	0.584
=	31.51 %

where

	Invested Capital		(Q: Nov. 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	))
=	1.176	-	0.036	-	( 0.601	-	max(0, 0.041	-	0.605	+	0.601	))
=	0.576

	Invested Capital		(Q: Feb. 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	))
=	1.266	-	0.098	-	( 0.675	-	max(0, 0.103	-	0.679	+	0.675	))
=	0.592

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

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

Armada Mercantile's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Feb. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Nov. 2025		Q: Feb. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	0.184	/	( ( (0 + max(-0.032, 0))	+	(0 + max(-0.094, 0)) )	/	2 )
=	0.184	/	( ( 0	+	0 )	/	2 )
=	0.184	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Nov. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.004	+	0	+	0)	-	(0.036	+	0	+	6.9388939039072E-18)
=	-0.032

	Working Capital		(Q: Feb. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.004	+	0	+	0)	-	(0.098	+	0	+	-1.3877787807814E-17)
=	-0.094

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Feb. 2026) EBIT data.

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

Armada Mercantile's Operating Margin % for the quarter that ended in Feb. 2026 is calculated as:

Operating Margin %	=	Operating Income (Q: Feb. 2026 )	/	Revenue (Q: Feb. 2026 )
	=	0.046	/	0.078
	=	58.97 %

* 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.

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.

Armada Mercantile Operating Income Related Terms

Armada Mercantile Operating Income Historical Data

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The historical data trend for Armada Mercantile's Operating Income can be seen below:

Armada Mercantile Operating Income Chart

Armada Mercantile Annual Data

Trend

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Feb24

Feb25

Feb26

Operating Income

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0.10

0.20

-0.05

-3.52

0.03

Armada Mercantile Quarterly Data
	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24	May24	Aug24	Nov24	Feb25	May25	Aug25	Nov25	Feb26
Operating Income	Get a 7-Day Free Trial															-3.53	-0.00	-0.01	-0.01	0.05

42GF Score

Armada Mercantile Ltd AAMTF

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Armada Mercantile 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 Feb. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.03 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $0.03 Mil mean?

Armada Mercantile (AAMTF) has a Operating Income of $0.03 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Armada Mercantile and its competitors.

Is Armada Mercantile's Operating Income too high?

Armada Mercantile's current Operating Income is $0.03 Mil. Overall, Armada Mercantile has a GF Score™ of 42/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Armada Mercantile's Operating Income compare to MS and GS?

Armada Mercantile's Operating Income of $0.03 Mil can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Operating Income for a Capital Markets company?

A good Operating Income depends on the Capital Markets industry context. However, Operating Income 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 Operating Income mean?

A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Armada Mercantile and its competitors. Armada Mercantile's current Operating Income is $0.03 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Armada Mercantile stock overvalued right now?

Based on GuruFocus' analysis, Armada Mercantile (AAMTF) is currently considered Fairly Valued. The stock's GF Value™ is $0.25, compared to a current price of $0.25 — trading right at its estimated fair value. The current Operating Income is $0.03 Mil. Armada Mercantile's overall GF Score™ is 42/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Operating Income calculated?

Operating Income is calculated from a company's financial statements. For Armada Mercantile (AAMTF), the current Operating Income is $0.03 Mil as of Feb. 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 Armada Mercantile (AAMTF) Overvalued in 2026?

Based on GuruFocus' analysis, Armada Mercantile stock appears to be undervalued. The current stock price of $0.25 is trading 0% below its estimated GF Value™ of $0.25. GuruFocus considers Armada Mercantile to be Fairly Valued.

Key valuation signals for AAMTF:

Operating Income: $0.03 Mil
GF Value™: $0.25 vs. price of $0.25 (0% below fair value)
GF Score™: 42/100 with 1 warning sign

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

Armada Mercantile Business Description

Industry Financial Services Capital Markets

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Other Exchanges ARM:Canada

Address 1616 West 3rd Avenue, Suite 100, Vancouver, BC, CAN, V6J 1K2

Website https://www.armadamercantile.com

Armada Mercantile Ltd is engaged in the business of investing in new and existing businesses and organizations. The company is a financial services company that focuses on merchant banking through its wholly-owned subsidiary Armada Group USA, Inc. The company, through its investment in Oxygen Funding, Inc. offers commercial finance services to companies; internationally, including account receivables "factoring", supply chain, equipment leasing, merchant cash advance and purchase order, and other types of specialized finance.

42GF Score

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