Horseshoe Metals (ASX:HOR) Operating Income: A$-1.49 Mil (TTM As of Dec. 2025)

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What is Horseshoe Metals Operating Income?

Horseshoe Metals ASX:HOR -5.26% Operating Income is A$-1.49 Mil as of Dec. 2025. The stock has 3 warning signs investors should review.

Horseshoe Metals's Operating Income for the six months ended in Dec. 2025 was A$-1.05 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was A$-1.49 Mil.

Warning Sign:

Horseshoe Metals Ltd has never been profitable in the past 3 years. It lost money every year.

Operating Margin % is calculated as Operating Income divided by its Revenue. Horseshoe Metals's Operating Income for the six months ended in Dec. 2025 was A$-1.05 Mil. Horseshoe Metals's Revenue for the six months ended in Dec. 2025 was A$0.00 Mil. Therefore, Horseshoe Metals's Operating Margin % for the quarter that ended in Dec. 2025 was %.

Horseshoe 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. Horseshoe Metals's annualized ROC % for the quarter that ended in Dec. 2025 was -18.95%. Horseshoe Metals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -24.45%.

Horseshoe Metals  (ASX:HOR) Operating Income Explanation

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

Horseshoe Metals's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=-2.098 * ( 1 - 0% )/( (10.652 + 11.494)/ 2 )
=-2.098/11.073
=-18.95 %

where

Invested Capital(Q: Jun. 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))
=9.327 - 3.48 - ( 0.206 - max(0, 5.128 - 0.323+0.206))
=10.652

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))
=10.115 - 3.035 - ( 0.028 - max(0, 4.739 - 0.325+0.028))
=11.494

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

Horseshoe Metals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-2.298/( ( (9.005 + max(-3.363, 0)) + (9.79 + max(-2.815, 0)) )/ 2 )
=-2.298/( ( 9.005 + 9.79 )/ 2 )
=-2.298/9.3975
=-24.45 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.056 + 0 + 0.061) - (3.48 + 0 + 0)
=-3.363

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.002 + 0 + 0.218) - (3.035 + 0 + 0)
=-2.815

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

Horseshoe Metals's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=-1.049/0
= %

* 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.

Horseshoe Metals Operating Income Related Terms

Horseshoe Metals Operating Income Historical Data

* Premium members only.

The historical data trend for Horseshoe 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.

Horseshoe Metals Operating Income Chart

Horseshoe Metals Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.23 -2.07 -1.20 -0.86 -1.49

Horseshoe Metals Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 -0.60 -0.57 -0.29 -0.44 -1.05

Horseshoe 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$-1.49 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 A$-1.49 Mil mean?
Horseshoe Metals (ASX:HOR) has a Operating Income of A$-1.49 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Horseshoe Metals and its competitors.
Is Horseshoe Metals' Operating Income too high?
Horseshoe Metals' current Operating Income is A$-1.49 Mil.
How does Horseshoe Metals' Operating Income compare to competitors?
Horseshoe Metals' Operating Income of A$-1.49 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 Operating Income for a Metals & Mining company?
A good Operating Income depends on the Metals & Mining 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 Horseshoe Metals and its competitors. Horseshoe Metals's current Operating Income is A$-1.49 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Horseshoe Metals stock overvalued right now?
Horseshoe Metals (ASX:HOR) has a current Operating Income of A$-1.49 Mil. The current Operating Income is A$-1.49 Mil. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Horseshoe Metals (ASX:HOR), the current Operating Income is A$-1.49 Mil as of Dec. 2025. 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.

Horseshoe Metals Business Description

Other Exchanges 6HS:Germany
Address 50 Kings Park Road, Level 2, West Perth, Perth, WA, AUS, 6005
Horseshoe Metals Ltd is a mineral exploration and resource development company. Its current endeavours centre on the Horseshoe Lights Copper-Gold and the Kumarina Copper Project located in Western Australia, as well as the Glenloth Gold project in South Australia. The company is organised into one main operating segment, which involves the exploration of minerals and evaluation of investment opportunities for its investors, presently solely in Australia.