AFGYF (H-Power) Operating Income: $-28.97 Mil (TTM As of Apr. 2026)


AFGYF H-Power PLC AFGYF
33 GF Score
Price $0.15
! 4 Warning Signs
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What is H-Power Operating Income?

H-Power AFGYF +4.34% 33 Operating Income is $-28.97 Mil as of Apr. 2026. GuruFocus rates AFGYF with a GF Score™ of 33/100. The stock has 4 warning signs investors should review.

H-Power's Operating Income for the six months ended in Apr. 2026 was $-10.22 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Apr. 2026 was $-28.97 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. H-Power's Operating Income for the six months ended in Apr. 2026 was $-10.22 Mil. H-Power's Revenue for the six months ended in Apr. 2026 was $0.34 Mil. Therefore, H-Power's Operating Margin % for the quarter that ended in Apr. 2026 was -2,997.95%.

H-Power'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. H-Power's annualized ROC % for the quarter that ended in Apr. 2026 was -64.42%. H-Power's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was -325.81%.

H-Power  (OTCPK:AFGYF) Operating Income Explanation

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

H-Power's annualized ROC % for the quarter that ended in Apr. 2026 is calculated as:

ROC % (Q: Apr. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Oct. 2025 ) + Invested Capital (Q: Apr. 2026 ))/ count )
=-20.446 * ( 1 - 20.47% )/( (22.569 + 27.914)/ 2 )
=-16.2607038/25.2415
=-64.42 %

where

Invested Capital(Q: Oct. 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))
=56.669 - 1.431 - ( 33.801 - max(0, 7.917 - 40.586+33.801))
=22.569

Invested Capital(Q: Apr. 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))
=52.764 - 1.948 - ( 23.471 - max(0, 9.001 - 31.903+23.471))
=27.914

Note: The Operating Income data used here is two times the semi-annual (Apr. 2026) data.

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

H-Power's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Apr. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Oct. 2025  Q: Apr. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-19.586/( ( (3.582 + max(-1.565, 0)) + (4.35 + max(4.091, 0)) )/ 2 )
=-19.586/( ( 3.582 + 8.441 )/ 2 )
=-19.586/6.0115
=-325.81 %

where Working Capital is:

Working Capital(Q: Oct. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.517 + 0.00099999999999989 + 5.562) - (1.431 + 0 + 6.214)
=-1.565

Working Capital(Q: Apr. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4.192 + 0.009 + 8.113) - (1.948 + 0 + 6.275)
=4.091

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Apr. 2026) EBIT data.

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

H-Power's Operating Margin % for the quarter that ended in Apr. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Apr. 2026 )/Revenue (Q: Apr. 2026 )
=-10.223/0.341
=-2,997.95 %

* 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.

H-Power Operating Income Related Terms

H-Power Operating Income Historical Data

* Premium members only.

The historical data trend for H-Power'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.

H-Power Operating Income Chart

H-Power Annual Data
Trend Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 Oct24 Oct25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only -14.26 -22.24 -24.39 -25.52 -30.55

H-Power Semi-Annual Data
Oct16 Apr17 Oct17 Apr18 Oct18 Apr19 Oct19 Apr20 Oct20 Apr21 Oct21 Apr22 Oct22 Apr23 Oct23 Apr24 Oct24 Apr25 Oct25 Apr26
Operating Income 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 -11.95 -13.06 -11.62 -18.75 -10.22
AFGYF
33GF Score
H-Power PLC AFGYF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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H-Power 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 Apr. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was $-28.97 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 Operating Income →
What does a Operating Income of $-28.97 Mil mean?
H-Power (AFGYF) has a Operating Income of $-28.97 Mil as of Apr. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on H-Power and its competitors.
Is H-Power's Operating Income too high?
H-Power's current Operating Income is $-28.97 Mil. Overall, H-Power has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.
How does H-Power's Operating Income compare to VRT and BE?
H-Power's Operating Income of $-28.97 Mil can be compared against companies in the Industrial Products 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 an Industrial Products company?
A good Operating Income depends on the Industrial Products 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 H-Power and its competitors. H-Power's current Operating Income is $-28.97 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is H-Power stock overvalued right now?
H-Power (AFGYF) has a current Operating Income of $-28.97 Mil. The current Operating Income is $-28.97 Mil. H-Power's overall GF Score™ is 33/100 with 4 warning signs 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 H-Power (AFGYF), the current Operating Income is $-28.97 Mil as of Apr. 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.

H-Power Business Description

Other Exchanges HPOWl:UKHPOW:UKQC8:Germany
Address Dunsfold Park, Unit 68.3, Canada Avenue, Cranleigh, Surrey, GBR, GU6 8TB
H-Power PLC is a provider of ammonia-based low carbon hydrogen production and hydrogen-to-power solutions. Its products include decentralised ammonia cracker systems and fuel cell generators designed to supply low-carbon hydrogen and power for industrial and off-grid applications. The company focuses on the commercial rollout of its hydrogen and power technologies and the development of modular ammonia cracker systems and fuel cell-based power solutions. Its technologies are intended to provide alternatives to conventional diesel-based power generation systems.
33GF Score

Get the complete analysis for AFGYF

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

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