SVM (Silvercorp Metals) Operating Income: $227.5 Mil (TTM As of Mar. 2026)


SVM Silvercorp Metals Inc SVM
89 GF Score
Price $9.96
GF Value $6.04
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Silvercorp Metals Operating Income?

Silvercorp Metals SVM -3.02% 89 Operating Income is $227.5 Mil as of Mar. 2026. GuruFocus rates SVM with a GF Score™ of 89/100 and a GF Value™ of $6.04 (Significantly Overvalued). The stock has 3 warning signs investors should review.

Silvercorp Metals's Operating Income for the three months ended in Mar. 2026 was $92.2 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $227.5 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Silvercorp Metals's Operating Income for the three months ended in Mar. 2026 was $92.2 Mil. Silvercorp Metals's Revenue for the three months ended in Mar. 2026 was $147.4 Mil. Therefore, Silvercorp Metals's Operating Margin % for the quarter that ended in Mar. 2026 was 62.60%.

Good Sign:

Silvercorp Metals Inc operating margin is expanding. Margin expansion is usually a good sign.

Silvercorp Metals's 5-Year average Growth Rate for Operating Margin % was 5.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Silvercorp Metals's annualized ROC % for the quarter that ended in Mar. 2026 was 15.04%. Silvercorp Metals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 20.53%.


Silvercorp Metals  (AMEX:SVM) Operating Income Explanation

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

Silvercorp 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 )
=368.992 * ( 1 - 54.84% )/( (1172.029 + 1044.029)/ 2 )
=166.6367872/1108.029
=15.04 %

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))
=1373.315 - 106.713 - ( 462.84 - max(0, 389.415 - 483.988+462.84))
=1172.029

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))
=1464.227 - 100.737 - ( 422.335 - max(0, 123.98 - 443.441+422.335))
=1044.029

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

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

Silvercorp 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 )
=154.536/( ( (691.833 + max(-255.699, 0)) + (813.356 + max(-102.073, 0)) )/ 2 )
=154.536/( ( 691.833 + 813.356 )/ 2 )
=154.536/752.5945
=20.53 %

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)
=(2.994 + 12.319 + 4.459) - (106.713 + 0 + 168.758)
=-255.699

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1.562 + 9.493 + 8.497) - (100.737 + 0 + 20.888)
=-102.073

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 %:

Silvercorp 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 )
=92.248/147.359
=62.60 %

* 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.


Silvercorp Metals Operating Income Related Terms


Silvercorp Metals Operating Income Historical Data

* Premium members only.

The historical data trend for Silvercorp 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.

Silvercorp Metals Operating Income Chart

Silvercorp Metals Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 68.18 54.89 62.84 103.26 227.48

Silvercorp 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 20.12 30.84 35.63 68.77 92.25
SVM
89GF Score
Silvercorp Metals Inc SVM
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Silvercorp 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 $227.5 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 $227.5 Mil mean?
Silvercorp Metals (SVM) has a Operating Income of $227.5 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Silvercorp Metals and its competitors.
Is Silvercorp Metals' Operating Income too high?
Silvercorp Metals' current Operating Income is $227.5 Mil. Overall, Silvercorp Metals has a GF Score™ of 89/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Silvercorp Metals' Operating Income compare to EXK?
Silvercorp Metals' Operating Income of $227.5 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 Silvercorp Metals and its competitors. Silvercorp Metals's current Operating Income is $227.5 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Silvercorp Metals stock overvalued right now?
Based on GuruFocus' analysis, Silvercorp Metals (SVM) is currently considered Significantly Overvalued. The stock's GF Value™ is $6.04, compared to a current price of $9.96 — trading 64.9% above its estimated fair value. The current Operating Income is $227.5 Mil. Silvercorp Metals' overall GF Score™ is 89/100 with 3 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 Silvercorp Metals (SVM), the current Operating Income is $227.5 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 Silvercorp Metals (SVM) Overvalued in 2026?

Based on GuruFocus' analysis, Silvercorp Metals stock appears to be overvalued. The current stock price of $9.96 is trading 64.9% above its estimated GF Value™ of $6.04. GuruFocus considers Silvercorp Metals to be Significantly Overvalued.

Key valuation signals for SVM:

  • Operating Income: $227.5 Mil
  • GF Value™: $6.04 vs. price of $9.96 (64.9% above fair value)
  • GF Score™: 89/100 with 3 warning signs

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


Silvercorp Metals Business Description

Address 1066 West Hastings Street, 1750 Suite, Vancouver, BC, CAN, V6E 3X1
Silvercorp Metals Inc is engaged in the acquisition, exploration, development, and mining of mineral properties. The Company's producing mines are located in China, and current exploration and development projects are located in China, Ecuador and Kyrgyz Republic. The company operates in single segment. The Company mainly produces and sells silver, lead, zinc, gold and other metals. The company's producing projects are Ying Mining District, GC Mine; construction projects are El Domo; permitting project is BYP Mine; development project includes Condor, Tulkubash/Kyzyltash.
89GF Score

Get the complete analysis for SVM

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

$9.96
Price
$6.04
GF Value