RUSMF (Russel Metals) Operating Income: $175 Mil (TTM As of Mar. 2026)


RUSMF Russel Metals Inc RUSMF
79 GF Score
Price $42.07
GF Value $34.50
Valuation Modestly Overvalued
! 8 Warning Signs
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What is Russel Metals Operating Income?

Russel Metals RUSMF 79 Operating Income is $175 Mil as of Mar. 2026. GuruFocus rates RUSMF with a GF Score™ of 79/100 and a GF Value™ of $34.50 (Modestly Overvalued). The stock has 8 warning signs investors should review.

Russel Metals's Operating Income for the three months ended in Mar. 2026 was $45 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $175 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Russel Metals's Operating Income for the three months ended in Mar. 2026 was $45 Mil. Russel Metals's Revenue for the three months ended in Mar. 2026 was $1,034 Mil. Therefore, Russel Metals's Operating Margin % for the quarter that ended in Mar. 2026 was 4.39%.

Warning Sign:

Russel Metals Inc operating margin has been in a 5-year decline. The average rate of decline per year is -3.4%.

Russel Metals's 5-Year average Growth Rate for Operating Margin % was -3.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Russel Metals's annualized ROC % for the quarter that ended in Mar. 2026 was 9.71%. Russel Metals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 21.22%.


Russel Metals  (OTCPK:RUSMF) Operating Income Explanation

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

Russel Metals'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 )
=181.632 * ( 1 - 20.84% )/( (1458.136 + 1504.446)/ 2 )
=143.7798912/1481.291
=9.71 %

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))
=1946.067 - 404.857 - ( 83.074 - max(0, 425.516 - 1302.791+83.074))
=1458.136

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))
=2073.105 - 475.292 - ( 93.367 - max(0, 496.939 - 1419.534+93.367))
=1504.446

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

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

Russel Metals'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 )
=285.424/( ( (517.434 + max(793.404, 0)) + (529.446 + max(849.49, 0)) )/ 2 )
=285.424/( ( 1310.838 + 1378.936 )/ 2 )
=285.424/1344.887
=21.22 %

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)
=(384.777 + 785.937 + 27.546) - (404.857 + 0 + -0.0010000000000332)
=793.404

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(519.023 + 780.831 + 24.928) - (475.292 + 0 + 5.6843418860808E-14)
=849.49

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 %:

Russel Metals'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 )
=45.408/1033.746
=4.39 %

* 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.


Russel Metals Operating Income Related Terms


Russel Metals Operating Income Historical Data

* Premium members only.

The historical data trend for Russel Metals'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.

Russel Metals Operating Income Chart

Russel Metals Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 470.55 353.99 244.41 156.52 173.40

Russel Metals Quarterly Data
Jun21 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 42.28 60.58 37.08 32.19 45.41
RUSMF
79GF Score
Russel Metals Inc RUSMF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Russel Metals 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 $175 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 $175 Mil mean?
Russel Metals (RUSMF) has a Operating Income of $175 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Russel Metals and its competitors.
Is Russel Metals' Operating Income too high?
Russel Metals' current Operating Income is $175 Mil. Overall, Russel Metals has a GF Score™ of 79/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Russel Metals' Operating Income compare to GWW and FAST?
Russel Metals' Operating Income of $175 Mil can be compared against companies in the Industrial Distribution 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 Distribution company?
A good Operating Income depends on the Industrial Distribution 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 Russel Metals and its competitors. Russel Metals's current Operating Income is $175 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Russel Metals stock overvalued right now?
Based on GuruFocus' analysis, Russel Metals (RUSMF) is currently considered Modestly Overvalued. The stock's GF Value™ is $34.50, compared to a current price of $42.07 — trading 21.9% above its estimated fair value. The current Operating Income is $175 Mil. Russel Metals' overall GF Score™ is 79/100 with 8 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 Russel Metals (RUSMF), the current Operating Income is $175 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 Russel Metals (RUSMF) Overvalued in 2026?

Based on GuruFocus' analysis, Russel Metals stock appears to be overvalued. The current stock price of $42.07 is trading 21.9% above its estimated GF Value™ of $34.50. GuruFocus considers Russel Metals to be Modestly Overvalued.

Key valuation signals for RUSMF:

  • Operating Income: $175 Mil
  • GF Value™: $34.50 vs. price of $42.07 (21.9% above fair value)
  • GF Score™: 79/100 with 8 warning signs

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


Russel Metals Business Description

Other Exchanges RMZ:GermanyRUS:Canada
Address 6600 Financial Drive, Mississauga, ON, CAN, L5N 7J6
Russel Metals Inc is a Canada-based metal distribution company. The company conducts business in Canada and the U.S. in three operating and reportable segments: Metals Service Centers, Energy Field Stores, and Steel Distributors. The majority of its revenue is generated from the Metals Service Centers segment, which carries an extensive line of metal products in a wide range of sizes, shapes, and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum, and other non-ferrous specialty metals. It purchases these products mainly from North American steel producers, processes, packages, and sells them to end users in accordance with their specific needs. Geographically, the company generates maximum revenue from Canada.
79GF Score

Get the complete analysis for RUSMF

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

$42.07
Price
$34.50
GF Value