BSHVF (Bushveld Minerals) Operating Income: $-50.4 Mil (TTM As of Jun. 2024)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

What is Bushveld Minerals Operating Income?

Bushveld Minerals BSHVF -99.00% Operating Income is $-50.4 Mil as of Jun. 2024.

Bushveld Minerals's Operating Income for the six months ended in Jun. 2024 was $-18.6 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2024 was $-50.4 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Bushveld Minerals's Operating Income for the six months ended in Jun. 2024 was $-18.6 Mil. Bushveld Minerals's Revenue for the six months ended in Jun. 2024 was $25.6 Mil. Therefore, Bushveld Minerals's Operating Margin % for the quarter that ended in Jun. 2024 was -72.90%.

Bushveld Minerals'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. Bushveld Minerals's annualized ROC % for the quarter that ended in Jun. 2024 was -21.11%. Bushveld Minerals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 was -42.57%.


Bushveld Minerals  (OTCPK:BSHVF) Operating Income Explanation

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

Bushveld Minerals's annualized ROC % for the quarter that ended in Jun. 2024 is calculated as:

ROC % (Q: Jun. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2023 ) + Invested Capital (Q: Jun. 2024 ))/ count )
=-37.25 * ( 1 - 14.66% )/( (177.58 + 123.649)/ 2 )
=-31.78915/150.6145
=-21.11 %

where

Note: The Operating Income data used here is two times the semi-annual (Jun. 2024) data.

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

Bushveld Minerals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2023  Q: Jun. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-36.8/( ( (99.744 + max(3.076, 0)) + (48.193 + max(21.875, 0)) )/ 2 )
=-36.8/( ( 102.82 + 70.068 )/ 2 )
=-36.8/86.444
=-42.57 %

where Working Capital is:

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(7.59 + 42.273 + 6.802) - (44.88 + 0 + 8.709)
=3.076

Working Capital(Q: Jun. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1.818 + 25.853 + 58.627) - (34.271 + 0 + 30.152)
=21.875

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2024) EBIT data.

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

Bushveld Minerals's Operating Margin % for the quarter that ended in Jun. 2024 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2024 )/Revenue (Q: Jun. 2024 )
=-18.625/25.55
=-72.90 %

* 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.


Bushveld Minerals Operating Income Related Terms


Bushveld Minerals Operating Income Historical Data

* Premium members only.

The historical data trend for Bushveld Minerals'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.

Bushveld Minerals Operating Income Chart

Bushveld Minerals Annual Data
Trend Feb14 Feb15 Feb16 Feb17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 22.25 -32.81 -26.84 3.83 -23.95

Bushveld Minerals Semi-Annual Data
Aug14 Feb15 Aug15 Feb16 Aug16 Feb17 Aug17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
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 6.12 -2.29 7.86 -31.81 -18.63

Bushveld Minerals 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. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was $-50.4 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 $-50.4 Mil mean?
Bushveld Minerals (BSHVF) has a Operating Income of $-50.4 Mil as of Jun. 2024. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Bushveld Minerals and its competitors.
Is Bushveld Minerals' Operating Income too high?
Bushveld Minerals' current Operating Income is $-50.4 Mil.
How does Bushveld Minerals' Operating Income compare to NRHI and WOLV?
Bushveld Minerals' Operating Income of $-50.4 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 Bushveld Minerals and its competitors. Bushveld Minerals's current Operating Income is $-50.4 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bushveld Minerals stock overvalued right now?
Bushveld Minerals (BSHVF) has a current Operating Income of $-50.4 Mil. The current Operating Income is $-50.4 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 Bushveld Minerals (BSHVF), the current Operating Income is $-50.4 Mil as of Jun. 2024. 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.

Bushveld Minerals Business Description

Address 9 Harries Road, Illovo, 2nd Floor, Building 3, Illovo Edge Office Park, Johannesburg, GT, ZAF, 2116
Bushveld Minerals Ltd is a low-cost, vertically integrated primary vanadium producer. Bushveld offers a compelling exposure to vanadium because it operates across both the upstream and downstream value chains through Bushveld Vanadium and Bushveld Energy. The company participates in the entire vanadium value chain through its three main pillars: vanadium mining and production, which consists of the Vametco and Vanchem operations; energy and mineral exploration activities for vanadium and coal exploration (together "Exploration"). Activities take place in South Africa (iron ore, vanadium and energy), Madagascar (coal), other African countries (energy project development) and global (battery investment, vanadium sales).