MLMLF (McFarlane Lake Mining) Operating Income: $-25.47 Mil (TTM As of Feb. 2026)

What is McFarlane Lake Mining Operating Income?

McFarlane Lake Mining MLMLF +9.98% 19 Operating Income is $-25.47 Mil as of Feb. 2026. GuruFocus rates MLMLF with a GF Score™ of 19/100. The stock has 2 warning signs investors should review.

McFarlane Lake Mining's Operating Income for the three months ended in Feb. 2026 was $-1.72 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was $-25.47 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. McFarlane Lake Mining's Operating Income for the three months ended in Feb. 2026 was $-1.72 Mil. McFarlane Lake Mining's Revenue for the three months ended in Feb. 2026 was $0.00 Mil. Therefore, McFarlane Lake Mining's Operating Margin % for the quarter that ended in Feb. 2026 was %.

McFarlane Lake Mining'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. McFarlane Lake Mining's annualized ROC % for the quarter that ended in Feb. 2026 was -59.68%. McFarlane Lake Mining's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was %.

McFarlane Lake Mining (OTCPK:MLMLF) Operating Income Explanation

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

McFarlane Lake Mining's annualized ROC % for the quarter that ended in Feb. 2026 is calculated as:

	ROC % (Q: Feb. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Nov. 2025 )	+	Invested Capital (Q: Feb. 2026 ))	/ count )
=	-6.88 * ( 1 - 0% )	/	( (11.364	+	11.691)	/ 2 )
=	-6.88	/	11.5275
=	-59.68 %

where

	Invested Capital		(Q: Nov. 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	))
=	10.274	-	0.834	-	( 9.896	-	max(0, 12.198	-	10.274	+	9.896	))
=	11.364

	Invested Capital		(Q: Feb. 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	))
=	7.512	-	0.868	-	( 6.927	-	max(0, 12.559	-	7.512	+	6.927	))
=	11.691

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

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

McFarlane Lake Mining's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Feb. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Nov. 2025		Q: Feb. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-11.98	/	( ( (0 + max(-0.725, 0))	+	(0 + max(-0.675, 0)) )	/	2 )
=	-11.98	/	( ( 0	+	0 )	/	2 )
=	-11.98	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Nov. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.109)	-	(0.834	+	0	+	0)
=	-0.725

	Working Capital		(Q: Feb. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.192)	-	(0.868	+	0	+	-0.0010000000000012)
=	-0.675

When net working capital is negative, 0 is used.

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

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

McFarlane Lake Mining's Operating Margin % for the quarter that ended in Feb. 2026 is calculated as:

Operating Margin %	=	Operating Income (Q: Feb. 2026 )	/	Revenue (Q: Feb. 2026 )
	=	-1.72	/	0
	=	%

* 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.

McFarlane Lake Mining Operating Income Related Terms

McFarlane Lake Mining Operating Income Historical Data

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The historical data trend for McFarlane Lake Mining's Operating Income can be seen below:

McFarlane Lake Mining Operating Income Chart

McFarlane Lake Mining Annual Data

Trend

Aug22

Aug23

Aug24

Aug25

Operating Income

-7.47

-3.94

-3.90

-2.50

McFarlane Lake Mining Quarterly Data
	Jun21	Sep21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24	May24	Aug24	Nov24	Feb25	May25	Aug25	Nov25	Feb26
Operating Income	Get a 7-Day Free Trial														-0.71	-0.62	-0.77	-22.36	-1.72

19GF Score

McFarlane Lake Mining Ltd MLMLF

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McFarlane Lake Mining 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 Feb. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-25.47 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $-25.47 Mil mean?

McFarlane Lake Mining (MLMLF) has a Operating Income of $-25.47 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on McFarlane Lake Mining and its competitors.

Is McFarlane Lake Mining's Operating Income too high?

McFarlane Lake Mining's current Operating Income is $-25.47 Mil. Overall, McFarlane Lake Mining has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.

How does McFarlane Lake Mining's Operating Income compare to NEM and AU?

McFarlane Lake Mining's Operating Income of $-25.47 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 McFarlane Lake Mining and its competitors. McFarlane Lake Mining's current Operating Income is $-25.47 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is McFarlane Lake Mining stock overvalued right now?

McFarlane Lake Mining (MLMLF) has a current Operating Income of $-25.47 Mil. The current Operating Income is $-25.47 Mil. McFarlane Lake Mining's overall GF Score™ is 19/100 with 2 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 McFarlane Lake Mining (MLMLF), the current Operating Income is $-25.47 Mil as of Feb. 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.

McFarlane Lake Mining Business Description

Industry Basic Materials Metals & Mining

Comparable Companies TSXV:BRAU XCNQ:AMQ XCNQ:AGC TSX:CCM XCNQ:SANU TSXV:SOI TSXV:YARR TSXV:ONYX TSX:XTG TSXV:LGC NEM SHSE:601899 TSX:AEM TSX:ABX TSX:WPM TSX:FNV AU HKSE:02259 JSE:GFI TSX:K

Other Exchanges W2Z:Germany MLM:Canada

Address 15 Kincora Court, Sudbury, ON, CAN, P3E 2B9

Website https://www.mcfarlanelakemining.com

McFarlane Lake Mining Ltd is a gold exploration and development company currently engaged in the acquisition & assessment of gold properties. Its properties include, Munro and McMillan, Juby Gold Project. The company has acquired six gold properties. It is a Canadian gold exploration and development company.

19GF Score

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