NXHSF (Next Hydrogen Solutions) Operating Income: $-4.61 Mil (TTM As of Mar. 2026)

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NXHSF Next Hydrogen Solutions Inc NXHSF
42 GF Score
Price $0.31
GF Value $1.10
Valuation Possible Value Trap
! 6 Warning Signs
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What is Next Hydrogen Solutions Operating Income?

Next Hydrogen Solutions NXHSF 42 Operating Income is $-4.61 Mil as of Mar. 2026. GuruFocus rates NXHSF with a GF Score™ of 42/100 and a GF Value™ of $1.10 (Possible Value Trap). The stock has 6 warning signs investors should review.

Next Hydrogen Solutions's Operating Income for the three months ended in Mar. 2026 was $-1.96 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $-4.61 Mil.

Warning Sign:

Next Hydrogen Solutions Inc had lost money in 92% of the time over the past 12quarters.

Operating Margin % is calculated as Operating Income divided by its Revenue. Next Hydrogen Solutions's Operating Income for the three months ended in Mar. 2026 was $-1.96 Mil. Next Hydrogen Solutions's Revenue for the three months ended in Mar. 2026 was $0.22 Mil. Therefore, Next Hydrogen Solutions's Operating Margin % for the quarter that ended in Mar. 2026 was -895.43%.

Next Hydrogen Solutions'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. Next Hydrogen Solutions's annualized ROC % for the quarter that ended in Mar. 2026 was -70.51%. Next Hydrogen Solutions's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -118.73%.


Next Hydrogen Solutions  (OTCPK:NXHSF) Operating Income Explanation

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

Next Hydrogen Solutions'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 )
=-7.844 * ( 1 - 0% )/( (10.538 + 11.71)/ 2 )
=-7.844/11.124
=-70.51 %

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:

Next Hydrogen Solutions'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 )
=-7.564/( ( (5.653 + max(-0.501, 0)) + (6.363 + max(0.725, 0)) )/ 2 )
=-7.564/( ( 5.653 + 7.088 )/ 2 )
=-7.564/6.3705
=-118.73 %

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)
=(0.159 + 1.123 + 0.193) - (1.672 + 0.303 + 0.0010000000000003)
=-0.501

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.426 + 1.165 + 0.649) - (0.844 + 0.671 + 0)
=0.725

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 %:

Next Hydrogen Solutions'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 )
=-1.961/0.219
=-895.43 %

* 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.


Next Hydrogen Solutions Operating Income Related Terms


Next Hydrogen Solutions Operating Income Historical Data

* Premium members only.

The historical data trend for Next Hydrogen Solutions'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.

Next Hydrogen Solutions Operating Income Chart

Next Hydrogen Solutions Annual Data
Trend Dec20 Jan21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial -0.15 -10.74 -9.31 -10.28 -4.64

Next Hydrogen Solutions Quarterly Data
Apr21 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 -1.94 -1.97 0.28 -0.96 -1.96
NXHSF
42GF Score
Next Hydrogen Solutions Inc NXHSF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Next Hydrogen Solutions 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 $-4.61 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 $-4.61 Mil mean?
Next Hydrogen Solutions (NXHSF) has a Operating Income of $-4.61 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Next Hydrogen Solutions and its competitors.
Is Next Hydrogen Solutions' Operating Income too high?
Next Hydrogen Solutions' current Operating Income is $-4.61 Mil. Overall, Next Hydrogen Solutions has a GF Score™ of 42/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Next Hydrogen Solutions' Operating Income compare to GEV and ETN?
Next Hydrogen Solutions' Operating Income of $-4.61 Mil can be compared against companies in the Industrial Products 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 an Industrial Products company?
A good Operating Income depends on the Industrial Products 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 Next Hydrogen Solutions and its competitors. Next Hydrogen Solutions's current Operating Income is $-4.61 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Next Hydrogen Solutions stock overvalued right now?
Based on GuruFocus' analysis, Next Hydrogen Solutions (NXHSF) is currently considered Possible Value Trap. The stock's GF Value™ is $1.10, compared to a current price of $0.31 — trading 71.8% below its estimated fair value. The current Operating Income is $-4.61 Mil. Next Hydrogen Solutions' overall GF Score™ is 42/100 with 6 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 Next Hydrogen Solutions (NXHSF), the current Operating Income is $-4.61 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 Next Hydrogen Solutions (NXHSF) Overvalued in 2026?

Based on GuruFocus' analysis, Next Hydrogen Solutions stock appears to be undervalued. The current stock price of $0.31 is trading 71.8% below its estimated GF Value™ of $1.10. GuruFocus considers Next Hydrogen Solutions to be Possible Value Trap.

Key valuation signals for NXHSF:

  • Operating Income: $-4.61 Mil
  • GF Value™: $1.10 vs. price of $0.31 (71.8% below fair value)
  • GF Score™: 42/100 with 6 warning signs

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


Next Hydrogen Solutions Business Description

Other Exchanges NXH:Canada
Address 6610 Edwards Boulevard, Mississauga, ON, CAN, L5T 2V6
Next Hydrogen Solutions Inc is a designer and manufacturer of electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source. Its cell design architecture enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. The company generates revenue from customer contracts from the principal sources of product and equipment sales; services as well as aftermarket sales; and development contracts.
42GF Score

Get the complete analysis for NXHSF

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

$0.31
Price
$1.10
GF Value