SBYSF (Sibanye Stillwater) Operating Income: $1,455 Mil (TTM As of Dec. 2025)

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SBYSF Sibanye Stillwater Ltd SBYSF
64 GF Score
Price $2.08
GF Value $1.84
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Sibanye Stillwater Operating Income?

Sibanye Stillwater SBYSF 64 Operating Income is $1,455 Mil as of Dec. 2025. GuruFocus rates SBYSF with a GF Score™ of 64/100 and a GF Value™ of $1.84 (Modestly Overvalued). The stock has 6 warning signs investors should review.

Sibanye Stillwater's Operating Income for the six months ended in Dec. 2025 was $873 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $1,455 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Sibanye Stillwater's Operating Income for the six months ended in Dec. 2025 was $873 Mil. Sibanye Stillwater's Revenue for the six months ended in Dec. 2025 was $4,450 Mil. Therefore, Sibanye Stillwater's Operating Margin % for the quarter that ended in Dec. 2025 was 19.61%.

Warning Sign:

Sibanye Stillwater Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -26%.

Sibanye Stillwater's 5-Year average Growth Rate for Operating Margin % was -26.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Sibanye Stillwater's annualized ROC % for the quarter that ended in Dec. 2025 was 0.00%. Sibanye Stillwater's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 10.15%.


Sibanye Stillwater  (OTCPK:SBYSF) Operating Income Explanation

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

Sibanye Stillwater'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 )
=1745.65 * ( 1 - 100% )/( (5922.008 + 6708.49)/ 2 )
=0/6315.249
=0.00 %

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))
=8120.125 - 1018.979 - ( 1179.138 - max(0, 1172.74 - 3388.029+1179.138))
=5922.008

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))
=8895.602 - 1166.598 - ( 1020.514 - max(0, 2029.264 - 3609.225+1020.514))
=6708.49

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:

Sibanye Stillwater'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 )
=457.206/( ( (3518.502 + max(778.348, 0)) + (3852.739 + max(856.191, 0)) )/ 2 )
=457.206/( ( 4296.85 + 4708.93 )/ 2 )
=457.206/4502.89
=10.15 %

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)
=(318.073 + 1590.085 + 17.116) - (1018.979 + 62.795 + 65.152)
=778.348

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(287.06 + 1870.169 + 40.992) - (1166.598 + 71.527 + 103.905)
=856.191

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 %:

Sibanye Stillwater'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 )
=872.825/4450.266
=19.61 %

* 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.


Sibanye Stillwater Operating Income Related Terms


Sibanye Stillwater Operating Income Historical Data

* Premium members only.

The historical data trend for Sibanye Stillwater'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.

Sibanye Stillwater Operating Income Chart

Sibanye Stillwater 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 3,620.34 1,899.48 452.11 202.22 1,488.71

Sibanye Stillwater Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 -28.34 74.45 126.91 581.77 872.83
SBYSF
64GF Score
Sibanye Stillwater Ltd SBYSF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Sibanye Stillwater 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 $1,455 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 $1,455 Mil mean?
Sibanye Stillwater (SBYSF) has a Operating Income of $1,455 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Sibanye Stillwater and its competitors.
Is Sibanye Stillwater's Operating Income too high?
Sibanye Stillwater's current Operating Income is $1,455 Mil. Overall, Sibanye Stillwater has a GF Score™ of 64/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sibanye Stillwater's Operating Income compare to HL and SIND?
Sibanye Stillwater's Operating Income of $1,455 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 Sibanye Stillwater and its competitors. Sibanye Stillwater's current Operating Income is $1,455 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sibanye Stillwater stock overvalued right now?
Based on GuruFocus' analysis, Sibanye Stillwater (SBYSF) is currently considered Modestly Overvalued. The stock's GF Value™ is $1.84, compared to a current price of $2.08 — trading 13% above its estimated fair value. The current Operating Income is $1,455 Mil. Sibanye Stillwater's overall GF Score™ is 64/100 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 Sibanye Stillwater (SBYSF), the current Operating Income is $1,455 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 Sibanye Stillwater (SBYSF) Overvalued in 2026?

Based on GuruFocus' analysis, Sibanye Stillwater stock appears to be overvalued. The current stock price of $2.08 is trading 13% above its estimated GF Value™ of $1.84. GuruFocus considers Sibanye Stillwater to be Modestly Overvalued.

Key valuation signals for SBYSF:

  • Operating Income: $1,455 Mil
  • GF Value™: $1.84 vs. price of $2.08 (13% above fair value)
  • GF Score™: 64/100 with 6 warning signs

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


Sibanye Stillwater Business Description

Address Cnr 14th Avenue and Hendrik Potgieter Road, Bridgeview House, Building 11, Ground Floor, Lakeview Avenue, Constantia Office Park, Weltevreden Park, Roodepoort, GT, ZAF, 1709
Sibanye Stillwater Ltd is a South African mining and metals processing group with a diverse portfolio of operations, projects, and investments across five continents. The Group is also one of the foremost recyclers of PGM autocatalysts and has interests in mine tailings retreatment operations. It is a producer of platinum, palladium, and rhodium and is a top-tier gold producer. It also produces and refines iridium and ruthenium, nickel, chrome, copper, and cobalt. Its products are Gold, Nickel, Zinc, Chrome, PGMs, and other. Group operations are divided into two segments, South African Operations and International and recycling operations.
64GF Score

Get the complete analysis for SBYSF

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

$2.08
Price
$1.84
GF Value