CXXIF (C21 Investments) Operating Income: $2.28 Mil (TTM As of Mar. 2026)

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CXXIF C21 Investments Inc CXXIF
31 GF Score
Price $0.24
GF Value $0.28
Valuation Modestly Undervalued
! 4 Warning Signs
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What is C21 Investments Operating Income?

C21 Investments CXXIF -14.63% 31 Operating Income is $2.28 Mil as of Mar. 2026. GuruFocus rates CXXIF with a GF Score™ of 31/100 and a GF Value™ of $0.28 (Modestly Undervalued). The stock has 4 warning signs investors should review.

C21 Investments's Operating Income for the three months ended in Mar. 2026 was $0.49 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $2.28 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. C21 Investments's Operating Income for the three months ended in Mar. 2026 was $0.49 Mil. C21 Investments's Revenue for the three months ended in Mar. 2026 was $7.45 Mil. Therefore, C21 Investments's Operating Margin % for the quarter that ended in Mar. 2026 was 6.55%.

Warning Sign:

C21 Investments Inc operating margin has been in a 5-year decline. The average rate of decline per year is -32.3%.

C21 Investments's 5-Year average Growth Rate for Operating Margin % was -32.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. C21 Investments's annualized ROC % for the quarter that ended in Mar. 2026 was 0.00%. C21 Investments's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 19.12%.


C21 Investments  (OTCPK:CXXIF) Operating Income Explanation

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

C21 Investments's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=1.952 * ( 1 - 100% )/( (49.732 + 48.983)/ 2 )
=0/49.3575
=0.00 %

where

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

C21 Investments's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2.188/( ( (11.231 + max(0.395, 0)) + (11.051 + max(0.215, 0)) )/ 2 )
=2.188/( ( 11.626 + 11.266 )/ 2 )
=2.188/11.446
=19.12 %

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)
=(0.136 + 4.257 + 0.656) - (3.152 + 0.302 + 1.2)
=0.395

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.057 + 4.591 + 0.587) - (3.516 + 0.304 + 1.2)
=0.215

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

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

C21 Investments's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=0.488/7.45
=6.55 %

* 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.


C21 Investments Operating Income Related Terms


C21 Investments Operating Income Historical Data

* Premium members only.

The historical data trend for C21 Investments'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.

C21 Investments Operating Income Chart

C21 Investments Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9.76 3.96 1.47 1.28 2.28

C21 Investments Quarterly Data
Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.84 0.21 1.23 0.35 0.49
CXXIF
31GF Score
C21 Investments Inc CXXIF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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C21 Investments 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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2.28 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 $2.28 Mil mean?
C21 Investments (CXXIF) has a Operating Income of $2.28 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on C21 Investments and its competitors.
Is C21 Investments' Operating Income too high?
C21 Investments' current Operating Income is $2.28 Mil. Overall, C21 Investments has a GF Score™ of 31/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does C21 Investments' Operating Income compare to ZTS?
C21 Investments' Operating Income of $2.28 Mil can be compared against companies in the Drug Manufacturers 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 Drug Manufacturers company?
A good Operating Income depends on the Drug Manufacturers 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 C21 Investments and its competitors. C21 Investments's current Operating Income is $2.28 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is C21 Investments stock overvalued right now?
Based on GuruFocus' analysis, C21 Investments (CXXIF) is currently considered Modestly Undervalued. The stock's GF Value™ is $0.28, compared to a current price of $0.24 — trading 13.5% below its estimated fair value. The current Operating Income is $2.28 Mil. C21 Investments' overall GF Score™ is 31/100 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 C21 Investments (CXXIF), the current Operating Income is $2.28 Mil as of Mar. 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 C21 Investments (CXXIF) Overvalued in 2026?

Based on GuruFocus' analysis, C21 Investments stock appears to be undervalued. The current stock price of $0.24 is trading 13.5% below its estimated GF Value™ of $0.28. GuruFocus considers C21 Investments to be Modestly Undervalued.

Key valuation signals for CXXIF:

  • Operating Income: $2.28 Mil
  • GF Value™: $0.28 vs. price of $0.24 (13.5% below fair value)
  • GF Score™: 31/100 with 4 warning signs

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


C21 Investments Business Description

Other Exchanges CXXI:Canada
Address 885 West Georgia Street, Floor 19, Vancouver, BC, CAN, V6C 3H4
C21 Investments Inc is a vertically integrated cannabis company that cultivates, processes, distributes, and sells quality cannabis and hemp-derived consumer products in Nevada, U.S.A., and the United States. The Company is focused on value creation through the disciplined acquisition and integration of core retail, manufacturing, and distribution assets in strategic markets, leveraging industry retail revenues with high-growth potential and multi-market branded consumer packaged goods (CPG). The Company focuses on scalable opportunities in key markets through retail operational excellence, expanding its retail footprint through value-add acquisitions in existing markets, and branded CPG expansion through captive retail and wholesale channels.
31GF Score

Get the complete analysis for CXXIF

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

$0.24
Price
$0.28
GF Value