BCX (BlackRock Resourcesmmodities Strategy Trust) Operating Income: $199.7 Mil (TTM As of Jun. 2026)

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BCX BlackRock Resources & Commodities Strategy Trust BCX
59 GF Score
Price $12.27
GF Value $18.15
Valuation Significantly Undervalued
! 4 Warning Signs
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What is BlackRock Resourcesmmodities Strategy Trust Operating Income?

BlackRock Resourcesmmodities Strategy Trust BCX -1.60% 59 Operating Income is $199.7 Mil as of Jun. 2026. GuruFocus rates BCX with a GF Score™ of 59/100 and a GF Value™ of $18.15 (Significantly Undervalued). The stock has 4 warning signs investors should review.

BlackRock Resourcesmmodities Strategy Trust's Operating Income for the six months ended in Jun. 2026 was $69.3 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was $199.7 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. BlackRock Resourcesmmodities Strategy Trust's Operating Income for the six months ended in Jun. 2026 was $69.3 Mil. BlackRock Resourcesmmodities Strategy Trust's Revenue for the six months ended in Jun. 2026 was $85.7 Mil. Therefore, BlackRock Resourcesmmodities Strategy Trust's Operating Margin % for the quarter that ended in Jun. 2026 was 80.95%.

BlackRock Resourcesmmodities Strategy Trust'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. BlackRock Resourcesmmodities Strategy Trust's annualized ROC % for the quarter that ended in Jun. 2026 was 15.80%. BlackRock Resourcesmmodities Strategy Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was %.


BlackRock Resourcesmmodities Strategy Trust  (NYSE:BCX) Operating Income Explanation

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

BlackRock Resourcesmmodities Strategy Trust's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=138.683828 * ( 1 - 0% )/( (852.290597 + 903.333682)/ 2 )
=138.683828/877.8121395
=15.80 %

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))
=885.667567 - 0.072102 - ( 35.580221 - max(0, 5.65163 - 38.956498+35.580221))
=852.290597

Invested Capital(Q: Jun. 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))
=925.174177 - 0.07005 - ( 28.597787 - max(0, 7.783166 - 29.553611+28.597787))
=903.333682

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

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

BlackRock Resourcesmmodities Strategy Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=138.515686/( ( (0 + max(-5.622546, 0)) + (0 + max(-2.809601, 0)) )/ 2 )
=138.515686/( ( 0 + 0 )/ 2 )
=138.515686/0
= %

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)
=( + 0 + ) - (0.072102 + 0 + 5.550444)
=-5.622546

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=( + 0 + ) - (0.07005 + 0 + 2.739551)
=-2.809601

When net working capital is negative, 0 is used.

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

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

BlackRock Resourcesmmodities Strategy Trust's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=69.341914/85.663885
=80.95 %

* 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.


BlackRock Resourcesmmodities Strategy Trust Operating Income Related Terms


BlackRock Resourcesmmodities Strategy Trust Operating Income Historical Data

* Premium members only.

The historical data trend for BlackRock Resourcesmmodities Strategy Trust'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.

BlackRock Resourcesmmodities Strategy Trust Operating Income Chart

BlackRock Resourcesmmodities Strategy Trust 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 197.82 137.75 -8.68 -27.05 214.62

BlackRock Resourcesmmodities Strategy Trust Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Jun26
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 17.42 -44.47 84.27 130.36 69.34
BCX
59GF Score
BlackRock Resources & Commodities Strategy Trust BCX
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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BlackRock Resourcesmmodities Strategy Trust 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 Jun. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was $199.7 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 $199.7 Mil mean?
BlackRock Resourcesmmodities Strategy Trust (BCX) has a Operating Income of $199.7 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on BlackRock Resourcesmmodities Strategy Trust and its competitors.
Is BlackRock Resourcesmmodities Strategy Trust's Operating Income too high?
BlackRock Resourcesmmodities Strategy Trust's current Operating Income is $199.7 Mil. Overall, BlackRock Resourcesmmodities Strategy Trust has a GF Score™ of 59/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does BlackRock Resourcesmmodities Strategy Trust's Operating Income compare to MUC and BBN?
BlackRock Resourcesmmodities Strategy Trust's Operating Income of $199.7 Mil can be compared against companies in the Asset Management 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 Asset Management company?
A good Operating Income depends on the Asset Management 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 BlackRock Resourcesmmodities Strategy Trust and its competitors. BlackRock Resourcesmmodities Strategy Trust's current Operating Income is $199.7 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BlackRock Resourcesmmodities Strategy Trust stock overvalued right now?
Based on GuruFocus' analysis, BlackRock Resourcesmmodities Strategy Trust (BCX) is currently considered Significantly Undervalued. The stock's GF Value™ is $18.15, compared to a current price of $12.27 — trading 32.4% below its estimated fair value. The current Operating Income is $199.7 Mil. BlackRock Resourcesmmodities Strategy Trust's overall GF Score™ is 59/100 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 BlackRock Resourcesmmodities Strategy Trust (BCX), the current Operating Income is $199.7 Mil as of Jun. 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 BlackRock Resourcesmmodities Strategy Trust (BCX) Overvalued in 2026?

Based on GuruFocus' analysis, BlackRock Resourcesmmodities Strategy Trust stock appears to be undervalued. The current stock price of $12.27 is trading 32.4% below its estimated GF Value™ of $18.15. GuruFocus considers BlackRock Resourcesmmodities Strategy Trust to be Significantly Undervalued.

Key valuation signals for BCX:

  • Operating Income: $199.7 Mil
  • GF Value™: $18.15 vs. price of $12.27 (32.4% below fair value)
  • GF Score™: 59/100 with 4 warning signs

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


BlackRock Resourcesmmodities Strategy Trust Business Description

Address 100 Bellevue Parkway, Wilmington, DE, USA, 19809
BlackRock Resources & Commodities Strategy Trust operates as an investment trust. Its investment objective is to seek high current income and current gains, with a secondary objective of capital appreciation. The company invests at least 80% of its total assets in equity securities issued by commodity or natural resources companies, derivatives with exposure to commodity or natural resources companies, or investments in securities and derivatives linked to the underlying price movement of commodities or natural resources.
59GF Score

Get the complete analysis for BCX

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

$12.27
Price
$18.15
GF Value