Nikola (MEX:NKLA) Operating Income: MXN-10,969 Mil (TTM As of Dec. 2024)

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MEX:NKLA Nikola Corp MEX:NKLA
12 GF Score
Price MXN3.79
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What is Nikola Operating Income?

Nikola MEX:NKLA 12 Operating Income is MXN-10,969 Mil as of Dec. 2024. GuruFocus rates MEX:NKLA with a GF Score™ of 12/100.

Nikola's Operating Income for the three months ended in Dec. 2024 was MXN-3,292 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2024 was MXN-10,969 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Nikola's Operating Income for the three months ended in Dec. 2024 was MXN-3,292 Mil. Nikola's Revenue for the three months ended in Dec. 2024 was MXN101 Mil. Therefore, Nikola's Operating Margin % for the quarter that ended in Dec. 2024 was -3,244.40%.

Nikola'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. Nikola's annualized ROC % for the quarter that ended in Dec. 2024 was -97.51%. Nikola's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2024 was -542.67%.


Nikola  (MEX:NKLA) Operating Income Explanation

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

Nikola's annualized ROC % for the quarter that ended in Dec. 2024 is calculated as:

ROC % (Q: Dec. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2024 ) + Invested Capital (Q: Dec. 2024 ))/ count )
=-13167.456 * ( 1 - 0% )/( (16895.833 + 10112.888)/ 2 )
=-13167.456/13504.3605
=-97.51 %

where

Invested Capital(Q: Sep. 2024 )
=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))
=20399.997 - 2406.627 - ( 3904.606 - max(0, 6611.609 - 7709.146+3904.606))
=16895.833

Invested Capital(Q: Dec. 2024 )
=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))
=12433.689 - 1910.778 - ( 2175.291 - max(0, 5117.947 - 5527.97+2175.291))
=10112.888

Note: The Operating Income data used here is four times the quarterly (Dec. 2024) data.

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

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

ROC (Joel Greenblatt) %(Q: Dec. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2024  Q: Dec. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-39256.936/( ( (9653.051 + max(-1909.389, 0)) + (4815.081 + max(-2106.989, 0)) )/ 2 )
=-39256.936/( ( 9653.051 + 4815.081 )/ 2 )
=-39256.936/7234.066
=-542.67 %

where Working Capital is:

Working Capital(Q: Sep. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1019.426 + 1497.959 + 688.412) - (2406.627 + 0 + 2708.559)
=-1909.389

Working Capital(Q: Dec. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(696.184 + 1498.419 + 547.525) - (1910.778 + 0 + 2938.339)
=-2106.989

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2024) EBIT data.

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

Nikola's Operating Margin % for the quarter that ended in Dec. 2024 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2024 )/Revenue (Q: Dec. 2024 )
=-3291.864/101.463
=-3,244.40 %

* 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.


Nikola Operating Income Related Terms


Nikola Operating Income Historical Data

* Premium members only.

The historical data trend for Nikola'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.

Nikola Operating Income Chart

Nikola Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Operating Income
Get a 7-Day Free Trial -7,326.62 -14,226.99 -13,698.57 -11,030.36 -12,090.03

Nikola Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
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 -2,169.92 -2,412.48 -2,402.21 -2,862.42 -3,291.86
MEX:NKLA
12GF Score
Nikola Corp MEX:NKLA
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Nikola 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. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was MXN-10,969 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 MXN-10,969 Mil mean?
Nikola (MEX:NKLA) has a Operating Income of MXN-10,969 Mil as of Dec. 2024. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Nikola and its competitors.
Is Nikola's Operating Income too high?
Nikola's current Operating Income is MXN-10,969 Mil. Overall, Nikola has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Nikola's Operating Income compare to NMHI and GP?
Nikola's Operating Income of MXN-10,969 Mil can be compared against companies in the Farm & Heavy Construction Machinery 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 Farm & Heavy Construction Machinery company?
A good Operating Income depends on the Farm & Heavy Construction Machinery 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 Nikola and its competitors. Nikola's current Operating Income is MXN-10,969 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nikola stock overvalued right now?
Nikola (MEX:NKLA) has a current Operating Income of MXN-10,969 Mil. The current Operating Income is MXN-10,969 Mil. Nikola's overall GF Score™ is 12/100. 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 Nikola (MEX:NKLA), the current Operating Income is MXN-10,969 Mil as of Dec. 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.

Nikola Business Description

Address P.O. Box 27028, Tempe, AZ, USA, 85285
Nikola Corp is a technology innovator and integrator, working to develop inventive energy and transportation solutions. It works on a business model that enables customers and fleets to integrate next-generation truck technology, hydrogen fueling and charging infrastructure, and related maintenance. It operates in two business units: Truck and Energy. The Truck business unit is engaged in manufacturing and selling FCEV and BEV trucks that provide environmentally friendly, cost-effective solutions to the trucking sector. The Energy business unit is engaged in developing and constructing a network of hydrogen fueling stations to meet the hydrogen fuel demand for the company's customers, as well as other third-party customers.
12GF 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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