OCUTF (Ocumension Therapeutics) Operating Income: $-21.9 Mil (TTM As of Dec. 2025)

What is Ocumension Therapeutics Operating Income?

Ocumension Therapeutics OCUTF 52 Operating Income is $-21.9 Mil as of Dec. 2025. GuruFocus rates OCUTF with a GF Score™ of 52/100 and a GF Value™ of $2.82 (Possible Value Trap). The stock has 5 warning signs investors should review.

Ocumension Therapeutics's Operating Income for the six months ended in Dec. 2025 was $-3.1 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $-21.9 Mil.

Warning Sign:

Ocumension Therapeutics has never been profitable in the past 3 years. It lost money every year.

Operating Margin % is calculated as Operating Income divided by its Revenue. Ocumension Therapeutics's Operating Income for the six months ended in Dec. 2025 was $-3.1 Mil. Ocumension Therapeutics's Revenue for the six months ended in Dec. 2025 was $72.5 Mil. Therefore, Ocumension Therapeutics's Operating Margin % for the quarter that ended in Dec. 2025 was -4.32%.

Good Sign:

Ocumension Therapeutics operating margin is expanding. Margin expansion is usually a good sign.

Ocumension Therapeutics's 5-Year average Growth Rate for Operating Margin % was 61.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Ocumension Therapeutics's annualized ROC % for the quarter that ended in Dec. 2025 was -1.33%. Ocumension Therapeutics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -8.07%.

Ocumension Therapeutics (OTCPK:OCUTF) Operating Income Explanation

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

Ocumension Therapeutics's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

	ROC % (Q: Dec. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2025 )	+	Invested Capital (Q: Dec. 2025 ))	/ count )
=	-6.266 * ( 1 - 0% )	/	( (454.228	+	488.197)	/ 2 )
=	-6.266	/	471.2125
=	-1.33 %

where

	Invested Capital		(Q: Jun. 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	))
=	542.718	-	7.955	-	( 80.535	-	max(0, 21.54	-	113.877	+	80.535	))
=	454.228

	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	))
=	580.837	-	14.905	-	( 77.735	-	max(0, 36.455	-	135.029	+	77.735	))
=	488.197

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

Ocumension Therapeutics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2025 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2025		Q: Dec. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-7.048	/	( ( (65.234 + max(14.917, 0))	+	(64.829 + max(29.697, 0)) )	/	2 )
=	-7.048	/	( ( 80.151	+	94.526 )	/	2 )
=	-7.048	/	87.3385
=	-8.07 %

where Working Capital is:

	Working Capital		(Q: Jun. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(24.093	+	9.249	+	0)	-	(7.955	+	0	+	10.47)
=	14.917

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(48.219	+	9.075	+	0)	-	(14.905	+	0	+	12.692)
=	29.697

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

Ocumension Therapeutics's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2025 )	/	Revenue (Q: Dec. 2025 )
	=	-3.133	/	72.456
	=	-4.32 %

* 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.

Ocumension Therapeutics Operating Income Related Terms

Ocumension Therapeutics Operating Income Historical Data

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The historical data trend for Ocumension Therapeutics's Operating Income can be seen below:

Ocumension Therapeutics Operating Income Chart

Ocumension Therapeutics Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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-60.53

-64.29

-56.21

-41.77

-22.22

Ocumension Therapeutics Semi-Annual Data
	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Operating Income	Get a 7-Day Free Trial										-24.91	-22.05	-19.80	-18.72	-3.13

52GF Score

Ocumension Therapeutics OCUTF

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Ocumension Therapeutics 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. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was $-21.9 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $-21.9 Mil mean?

Ocumension Therapeutics (OCUTF) has a Operating Income of $-21.9 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Ocumension Therapeutics and its competitors.

Is Ocumension Therapeutics' Operating Income too high?

Ocumension Therapeutics' current Operating Income is $-21.9 Mil. Overall, Ocumension Therapeutics has a GF Score™ of 52/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Ocumension Therapeutics' Operating Income compare to VRTX and REGN?

Ocumension Therapeutics' Operating Income of $-21.9 Mil can be compared against companies in the Biotechnology 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 Biotechnology company?

A good Operating Income depends on the Biotechnology 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 Ocumension Therapeutics and its competitors. Ocumension Therapeutics's current Operating Income is $-21.9 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Ocumension Therapeutics stock overvalued right now?

Based on GuruFocus' analysis, Ocumension Therapeutics (OCUTF) is currently considered Possible Value Trap. The stock's GF Value™ is $2.82, compared to a current price of $0.70 — trading 75.2% below its estimated fair value. The current Operating Income is $-21.9 Mil. Ocumension Therapeutics' overall GF Score™ is 52/100 with 5 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 Ocumension Therapeutics (OCUTF), the current Operating Income is $-21.9 Mil as of Dec. 2025. 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 Ocumension Therapeutics (OCUTF) Overvalued in 2026?

Based on GuruFocus' analysis, Ocumension Therapeutics stock appears to be undervalued. The current stock price of $0.70 is trading 75.2% below its estimated GF Value™ of $2.82. GuruFocus considers Ocumension Therapeutics to be Possible Value Trap.

Key valuation signals for OCUTF:

Operating Income: $-21.9 Mil
GF Value™: $2.82 vs. price of $0.70 (75.2% below fair value)
GF Score™: 52/100 with 5 warning signs

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

Ocumension Therapeutics Business Description

Industry Healthcare Biotechnology

Comparable Companies HKSE:02591 HKSE:02105 HKSE:02480 HKSE:02629 HKSE:02509 HKSE:03378 HKSE:06955 HKSE:02256 HKSE:01167 HKSE:02410 VRTX REGN XBRU:UCB XBRU:ARGX XKRX:207940 ALNY RVMD ASX:CSL ONC XKRX:068270

Other Exchanges 01477:Hong Kong 5DG:Germany

Address No. 1858 Yinzhongnan Road, Guoxiang Subdistrict, Wuzhong District, Suzhou, Jiangsu, CHN

Website https://www.ocumension.com

Ocumension Therapeutics is an ophthalmic pharmaceutical platform company identifying, developing, and commercializing ophthalmic therapies. It provides a pharmaceutical total solution to address unmet ophthalmic medical needs in China. Its product candidates include OT-401 (YUTIQ), OT-101, OT-301 (NCX 470), OT-1001 (ZERVIATE), OT-502 (DEXYCU), OT-202, OT-503 (NCX 4251), OT-701, Ou Qin, Brimonidine tartrate eye drop, 0.5% moxifloxacin eye drop, OT-601-C, OT-302, OT-1301, T-1601, and OT-1602.

52GF Score

Get the complete analysis for OCUTF

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

$0.70

Price

$2.82

GF Value

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