ETHZW (ETHZilla) Operating Income: $-246.67 Mil (TTM As of Mar. 2026)

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ETHZW ETHZilla Corp ETHZW
26 GF Score
Price $0.01
! 3 Warning Signs
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What is ETHZilla Operating Income?

ETHZilla ETHZW 26 Operating Income is $-246.67 Mil as of Mar. 2026. GuruFocus rates ETHZW with a GF Score™ of 26/100. The stock has 3 warning signs investors should review.

ETHZilla's Operating Income for the three months ended in Mar. 2026 was $-8.52 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $-246.67 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. ETHZilla's Operating Income for the three months ended in Mar. 2026 was $-8.52 Mil. ETHZilla's Revenue for the three months ended in Mar. 2026 was $2.86 Mil. Therefore, ETHZilla's Operating Margin % for the quarter that ended in Mar. 2026 was -297.94%.

ETHZilla'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. ETHZilla's annualized ROC % for the quarter that ended in Mar. 2026 was -14.44%. ETHZilla's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -3,174.04%.


ETHZilla  (NAS:ETHZW) Operating Income Explanation

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

ETHZilla'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 )
=-34.072 * ( 1 - 0% )/( (332.1 + 139.968)/ 2 )
=-34.072/236.034
=-14.44 %

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:

ETHZilla'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 )
=-306.136/( ( (0 + max(-3.613, 0)) + (19.29 + max(-7.009, 0)) )/ 2 )
=-306.136/( ( 0 + 19.29 )/ 2 )
=-306.136/9.645
=-3,174.04 %

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 + 5.552) - (1.556 + 0 + 7.609)
=-3.613

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.375 + 0 + 4.787) - (1.738 + 0 + 10.433)
=-7.009

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 %:

ETHZilla'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 )
=-8.518/2.859
=-297.94 %

* 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.


ETHZilla Operating Income Related Terms


ETHZilla Operating Income Historical Data

* Premium members only.

The historical data trend for ETHZilla'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.

ETHZilla Operating Income Chart

ETHZilla Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial -15.64 -17.90 -13.48 -4.42 -239.78

ETHZilla Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 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 -1.97 -1.73 -220.49 -15.93 -8.52
ETHZW
26GF Score
ETHZilla Corp ETHZW
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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ETHZilla 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 $-246.67 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 $-246.67 Mil mean?
ETHZilla (ETHZW) has a Operating Income of $-246.67 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on ETHZilla and its competitors.
Is ETHZilla's Operating Income too high?
ETHZilla's current Operating Income is $-246.67 Mil. Overall, ETHZilla has a GF Score™ of 26/100, reflecting its overall financial health beyond just this single metric.
How does ETHZilla's Operating Income compare to RSSS and IDN?
ETHZilla's Operating Income of $-246.67 Mil can be compared against companies in the Software 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 Software company?
A good Operating Income depends on the Software 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 ETHZilla and its competitors. ETHZilla's current Operating Income is $-246.67 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ETHZilla stock overvalued right now?
ETHZilla (ETHZW) has a current Operating Income of $-246.67 Mil. The current Operating Income is $-246.67 Mil. ETHZilla's overall GF Score™ is 26/100 with 3 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 ETHZilla (ETHZW), the current Operating Income is $-246.67 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.

ETHZilla Business Description

Other Exchanges FRMM:USA
Address 2875 South Ocean Boulevard, Suite 200, Palm Beach, FL, USA, 33480
Forum Markets Inc is a financial technology company focused on developing infrastructure that supports the origination, financing, and distribution of RWAs through blockchain-enabled capital markets. The company's business approach is centered on integrating traditional financial asset markets with blockchain-based infrastructure to enable the tokenization of income-generating real-world assets such as consumer credit, equipment finance assets, and other contractual cash-flow streams. It utilizes blockchain infrastructure, including Ethereum and related Layer-2 scaling protocols, to support the issuance, management, and potential secondary trading of tokenized financial instruments.
26GF Score

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

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