SJT (San Juan Basin Royalty Trust) Operating Income: $-0.76 Mil (TTM As of Mar. 2026)

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SJT San Juan Basin Royalty Trust SJT
39 GF Score
Price $2.50
GF Value $0.33
Valuation Significantly Overvalued
! 1 Warning Sign
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What is San Juan Basin Royalty Trust Operating Income?

San Juan Basin Royalty Trust SJT +2.46% 39 Operating Income is $-0.76 Mil as of Mar. 2026. GuruFocus rates SJT with a GF Score™ of 39/100 and a GF Value™ of $0.33 (Significantly Overvalued). The stock has 1 warning sign investors should review.

San Juan Basin Royalty Trust's Operating Income for the three months ended in Mar. 2026 was $-0.36 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $-0.76 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. San Juan Basin Royalty Trust's Operating Income for the three months ended in Mar. 2026 was $-0.36 Mil. San Juan Basin Royalty Trust's Revenue for the three months ended in Mar. 2026 was $0.00 Mil. Therefore, San Juan Basin Royalty Trust's Operating Margin % for the quarter that ended in Mar. 2026 was %.

San Juan Basin Royalty Trust'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. San Juan Basin Royalty Trust's annualized ROC % for the quarter that ended in Mar. 2026 was -44.71%. San Juan Basin Royalty Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -54.22%.


San Juan Basin Royalty Trust  (NYSE:SJT) Operating Income Explanation

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

San Juan Basin Royalty Trust'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 )
=-1.452 * ( 1 - 0% )/( (3.066 + 3.429)/ 2 )
=-1.452/3.2475
=-44.71 %

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:

San Juan Basin Royalty Trust'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 )
=-1.452/( ( (2.678 + max(0, 0)) + (2.678 + max(0, 0)) )/ 2 )
=-1.452/( ( 2.678 + 2.678 )/ 2 )
=-1.452/2.678
=-54.22 %

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)
=(0 + 0 + 0) - (0 + 0 + 0)
=0

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

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 %:

San Juan Basin Royalty Trust'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 )
=-0.363/0
= %

* 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.


San Juan Basin Royalty Trust Operating Income Related Terms


San Juan Basin Royalty Trust Operating Income Historical Data

* Premium members only.

The historical data trend for San Juan Basin Royalty Trust'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.

San Juan Basin Royalty Trust Operating Income Chart

San Juan Basin Royalty Trust 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 35.97 77.54 51.49 5.07 -0.40

San Juan Basin Royalty Trust 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 -0.01 -0.17 -0.11 -0.11 -0.36
SJT
39GF Score
San Juan Basin Royalty Trust SJT
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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San Juan Basin Royalty Trust 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 $-0.76 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 $-0.76 Mil mean?
San Juan Basin Royalty Trust (SJT) has a Operating Income of $-0.76 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on San Juan Basin Royalty Trust and its competitors.
Is San Juan Basin Royalty Trust's Operating Income too high?
San Juan Basin Royalty Trust's current Operating Income is $-0.76 Mil. Overall, San Juan Basin Royalty Trust has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does San Juan Basin Royalty Trust's Operating Income compare to EPM and ANNA?
San Juan Basin Royalty Trust's Operating Income of $-0.76 Mil can be compared against companies in the Oil & Gas 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 Oil & Gas company?
A good Operating Income depends on the Oil & Gas 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 San Juan Basin Royalty Trust and its competitors. San Juan Basin Royalty Trust's current Operating Income is $-0.76 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is San Juan Basin Royalty Trust stock overvalued right now?
Based on GuruFocus' analysis, San Juan Basin Royalty Trust (SJT) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.33, compared to a current price of $2.50 — trading 657.6% above its estimated fair value. The current Operating Income is $-0.76 Mil. San Juan Basin Royalty Trust's overall GF Score™ is 39/100 with 1 warning sign 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 San Juan Basin Royalty Trust (SJT), the current Operating Income is $-0.76 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 San Juan Basin Royalty Trust (SJT) Overvalued in 2026?

Based on GuruFocus' analysis, San Juan Basin Royalty Trust stock appears to be overvalued. The current stock price of $2.50 is trading 657.6% above its estimated GF Value™ of $0.33. GuruFocus considers San Juan Basin Royalty Trust to be Significantly Overvalued.

Key valuation signals for SJT:

  • Operating Income: $-0.76 Mil
  • GF Value™: $0.33 vs. price of $2.50 (657.6% above fair value)
  • GF Score™: 39/100 with 1 warning sign

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


San Juan Basin Royalty Trust Business Description

Industry EnergyOil & Gas
Address 3838 Oak Lawn Avenue, Suite 1720, Dallas, TX, USA, 75219
San Juan Basin Royalty Trust is an energy sector royalty trust in the United States. It owns approximately 75% net profit interest in a large number of natural gas properties in the San Juan Basin of New Mexico. About 98% of the royalties San Juan collects come from natural gas, with the balance coming from oil.
39GF Score

Get the complete analysis for SJT

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

$2.50
Price
$0.33
GF Value