CTJHF (CITIC Resources Holdings) Operating Income: $31 Mil (TTM As of Dec. 2025)

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.

CTJHF CITIC Resources Holdings Ltd CTJHF
80 GF Score
Price $0.07
GF Value $0.18
! 5 Warning Signs
View Full Analysis

What is CITIC Resources Holdings Operating Income?

CITIC Resources Holdings CTJHF 80 Operating Income is $31 Mil as of Dec. 2025. GuruFocus rates CTJHF with a GF Score™ of 80/100 and a GF Value™ of $0.18. The stock has 5 warning signs investors should review.

CITIC Resources Holdings's Operating Income for the six months ended in Dec. 2025 was $15 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $31 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. CITIC Resources Holdings's Operating Income for the six months ended in Dec. 2025 was $15 Mil. CITIC Resources Holdings's Revenue for the six months ended in Dec. 2025 was $717 Mil. Therefore, CITIC Resources Holdings's Operating Margin % for the quarter that ended in Dec. 2025 was 2.08%.

CITIC Resources Holdings'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. CITIC Resources Holdings's annualized ROC % for the quarter that ended in Dec. 2025 was 0.77%. CITIC Resources Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 5.99%.


CITIC Resources Holdings  (OTCPK:CTJHF) Operating Income Explanation

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

CITIC Resources Holdings'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 )
=29.884 * ( 1 - 58.05% )/( (1653.58 + 1590.715)/ 2 )
=12.536338/1622.1475
=0.77 %

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))
=2030.277 - 271.247 - ( 563.047 - max(0, 790.281 - 895.731+563.047))
=1653.58

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))
=1877.384 - 64.816 - ( 452.989 - max(0, 351.414 - 573.267+452.989))
=1590.715

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:

CITIC Resources Holdings'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 )
=30.544/( ( (514.352 + max(-38.83, 0)) + (505.985 + max(-25.183, 0)) )/ 2 )
=30.544/( ( 514.352 + 505.985 )/ 2 )
=30.544/510.1685
=5.99 %

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)
=(252.573 + 56.257 + 15.149) - (271.247 + 0 + 91.562)
=-38.83

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(37.755 + 48.857 + 15.762) - (64.816 + 0 + 62.741)
=-25.183

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 %:

CITIC Resources Holdings'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 )
=14.942/717.485
=2.08 %

* 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.


CITIC Resources Holdings Operating Income Related Terms


CITIC Resources Holdings Operating Income Historical Data

* Premium members only.

The historical data trend for CITIC Resources Holdings'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.

CITIC Resources Holdings Operating Income Chart

CITIC Resources Holdings 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 111.40 189.29 92.42 56.83 30.64

CITIC Resources Holdings 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 51.63 40.00 16.65 15.56 14.94
CTJHF
80GF Score
CITIC Resources Holdings Ltd CTJHF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CITIC Resources Holdings 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 $31 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 $31 Mil mean?
CITIC Resources Holdings (CTJHF) has a Operating Income of $31 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on CITIC Resources Holdings and its competitors.
Is CITIC Resources Holdings' Operating Income too high?
CITIC Resources Holdings' current Operating Income is $31 Mil. Overall, CITIC Resources Holdings has a GF Score™ of 80/100, reflecting its overall financial health beyond just this single metric.
How does CITIC Resources Holdings' Operating Income compare to competitors?
CITIC Resources Holdings' Operating Income of $31 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 CITIC Resources Holdings and its competitors. CITIC Resources Holdings's current Operating Income is $31 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CITIC Resources Holdings stock overvalued right now?
CITIC Resources Holdings (CTJHF) has a current Operating Income of $31 Mil. The stock's GF Value™ is $0.18, compared to a current price of $0.07 — trading 58.9% below its estimated fair value. The current Operating Income is $31 Mil. CITIC Resources Holdings' overall GF Score™ is 80/100 with 5 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 CITIC Resources Holdings (CTJHF), the current Operating Income is $31 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.

Is CITIC Resources Holdings (CTJHF) Overvalued in 2026?

Based on GuruFocus' analysis, CITIC Resources Holdings stock appears to be undervalued. The current stock price of $0.07 is trading 58.9% below its estimated GF Value™ of $0.18.

Key valuation signals for CTJHF:

  • Operating Income: $31 Mil
  • GF Value™: $0.18 vs. price of $0.07 (58.9% below fair value)
  • GF Score™: 80/100 with 5 warning signs

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


CITIC Resources Holdings Business Description

Other Exchanges 01205:Hong KongCZR:Germany
Address 1 Austin Road West, International Commerce Centre, Suites 6701-02 & 08B, 67th Floor, Kowloon, Hong Kong, HKG
CITIC Resources Holdings Ltd is a provider of strategic natural resources and key commodities. Its activities are the export of commodity products, including aluminum ingots, coal, iron ore, alumina, and copper; and the import of other commodity products and manufactured goods, including steel, vehicle, and industrial batteries. It has four operating segments; the Aluminum Smelting segment comprises the operation of the PAS which sources alumina and produces aluminum ingots in Australia, the Coal segment comprises the operation of coal mines and the sale of coal in Australia, the Import and Export of Commodities segment derives key revenue, comprises trading of crude oil and oil products around the world, and Crude Oil segment comprises the operation of oilfields and the sale of crude oil.
80GF Score

Get the complete analysis for CTJHF

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

$0.07
Price
$0.18
GF Value