Sharplink (MEX:SBET) Operating Income: MXN-9,477.3 Mil (TTM As of Mar. 2026)

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MEX:SBET Sharplink Inc MEX:SBET
25 GF Score
Price MXN106.00
GF Value MXN7.61
Valuation Significantly Overvalued
! 4 Warning Signs
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What is Sharplink Operating Income?

Sharplink MEX:SBET -6.19% 25 Operating Income is MXN-9,477.3 Mil as of Mar. 2026. GuruFocus rates MEX:SBET with a GF Score™ of 25/100 and a GF Value™ of MXN7.61 (Significantly Overvalued). The stock has 4 warning signs investors should review.

Sharplink's Operating Income for the three months ended in Mar. 2026 was MXN-8,888.5 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was MXN-9,477.3 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Sharplink's Operating Income for the three months ended in Mar. 2026 was MXN-8,888.5 Mil. Sharplink's Revenue for the three months ended in Mar. 2026 was MXN433.9 Mil. Therefore, Sharplink's Operating Margin % for the quarter that ended in Mar. 2026 was -2,048.41%.

Good Sign:

Sharplink Inc operating margin is expanding. Margin expansion is usually a good sign.

Sharplink's 5-Year average Growth Rate for Operating Margin % was 9.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Sharplink's annualized ROC % for the quarter that ended in Mar. 2026 was -95.64%. Sharplink's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -39,504,355.56%.


Sharplink  (MEX:SBET) Operating Income Explanation

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

Sharplink'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 )
=-35553.92 * ( 1 - 0% )/( (43224.735 + 31124.675)/ 2 )
=-35553.92/37174.705
=-95.64 %

where

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))
=43785.649 - 229.537 - ( 547.751 - max(0, 229.555 - 560.932+547.751))
=43224.735

Invested Capital(Q: Mar. 2026 )
=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))
=31449.714 - 98.044 - ( 304.302 - max(0, 98.044 - 325.039+304.302))
=31124.675

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

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

Sharplink'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 )
=-35553.92/( ( (0.18 + max(-216.374, 0)) + (0 + max(-77.307, 0)) )/ 2 )
=-35553.92/( ( 0.18 + 0 )/ 2 )
=-35553.92/0.09
=-39,504,355.56 %

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)
=(3.979 + 0 + 9.202) - (229.537 + 0 + 0.018000000000001)
=-216.374

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(8.313 + 0 + 12.424) - (98.044 + 0 + 0)
=-77.307

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 %:

Sharplink'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 )
=-8888.48/433.921
=-2,048.41 %

* 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.


Sharplink Operating Income Related Terms


Sharplink Operating Income Historical Data

* Premium members only.

The historical data trend for Sharplink'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.

Sharplink Operating Income Chart

Sharplink Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial -687.12 -186.32 -109.11 -99.34 -589.67

Sharplink Quarterly Data
Dec20 Jun21 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 -18.94 -348.40 -32.34 -208.09 -8,888.48
MEX:SBET
25GF Score
Sharplink Inc MEX:SBET
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Sharplink 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 MXN-9,477.3 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-9,477.3 Mil mean?
Sharplink (MEX:SBET) has a Operating Income of MXN-9,477.3 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Sharplink and its competitors.
Is Sharplink's Operating Income too high?
Sharplink's current Operating Income is MXN-9,477.3 Mil. Overall, Sharplink has a GF Score™ of 25/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sharplink's Operating Income compare to PURR and OPY?
Sharplink's Operating Income of MXN-9,477.3 Mil can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Operating Income depends on the Capital Markets 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 Sharplink and its competitors. Sharplink's current Operating Income is MXN-9,477.3 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sharplink stock overvalued right now?
Based on GuruFocus' analysis, Sharplink (MEX:SBET) is currently considered Significantly Overvalued. The stock's GF Value™ is MXN7.61, compared to a current price of MXN106.00 — trading 1292.9% above its estimated fair value. The current Operating Income is MXN-9,477.3 Mil. Sharplink's overall GF Score™ is 25/100 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 Sharplink (MEX:SBET), the current Operating Income is MXN-9,477.3 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 Sharplink (MEX:SBET) Overvalued in 2026?

Based on GuruFocus' analysis, Sharplink stock appears to be overvalued. The current stock price of MXN106.00 is trading 1292.9% above its estimated GF Value™ of MXN7.61. GuruFocus considers Sharplink to be Significantly Overvalued.

Key valuation signals for MEX:SBET:

  • Operating Income: MXN-9,477.3 Mil
  • GF Value™: MXN7.61 vs. price of MXN106.00 (1292.9% above fair value)
  • GF Score™: 25/100 with 4 warning signs

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


Sharplink Business Description

Other Exchanges SBET:USA7710:Germany
Address 200 South Biscayne Boulevard, Miami, FL, USA, 33131
SharpLink Inc is one of those publicly traded companies to adopt ETH as its primary treasury reserve asset. This move reflects the Company's commitment to align corporate treasury with the future of programmable finance, digital capital markets, and decentralized infrastructure. The Company also operates an online affiliate marketing company that delivers different fan activation solutions to its sportsbook and online casino gaming partners. The company operates in two reportable segments: ETH Treasury Management and Affiliate Marketing. The majority of its revenue is generated from the ETH Treasury Management. Geographically, the company operates in the United States and the rest of the world.
25GF Score

Get the complete analysis for MEX:SBET

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

MXN106.00
Price
MXN7.61
GF Value