THSGF (Thesis Gold & Silver) Operating Income: $-6.92 Mil (TTM As of Feb. 2026)


THSGF Thesis Gold & Silver Inc THSGF
30 GF Score
Price $2.07
! 1 Warning Sign
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What is Thesis Gold & Silver Operating Income?

Thesis Gold & Silver THSGF +1.47% 30 Operating Income is $-6.92 Mil as of Feb. 2026. GuruFocus rates THSGF with a GF Score™ of 30/100. The stock has 1 warning sign investors should review.

Thesis Gold & Silver's Operating Income for the three months ended in Feb. 2026 was $-2.48 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was $-6.92 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Thesis Gold & Silver's Operating Income for the three months ended in Feb. 2026 was $-2.48 Mil. Thesis Gold & Silver's Revenue for the three months ended in Feb. 2026 was $0.00 Mil. Therefore, Thesis Gold & Silver's Operating Margin % for the quarter that ended in Feb. 2026 was %.

Thesis Gold & Silver'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. Thesis Gold & Silver's annualized ROC % for the quarter that ended in Feb. 2026 was -2.20%. Thesis Gold & Silver's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was -5.28%.

Thesis Gold & Silver  (OTCPK:THSGF) Operating Income Explanation

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

Thesis Gold & Silver's annualized ROC % for the quarter that ended in Feb. 2026 is calculated as:

ROC % (Q: Feb. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Nov. 2025 ) + Invested Capital (Q: Feb. 2026 ))/ count )
=-9.916 * ( 1 - 64.49% )/( (156.861 + 163.735)/ 2 )
=-3.5211716/160.298
=-2.20 %

where

Invested Capital(Q: Nov. 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))
=184.836 - 3.41 - ( 25.683 - max(0, 4.829 - 29.394+25.683))
=156.861

Invested Capital(Q: Feb. 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))
=220.131 - 1.587 - ( 55.763 - max(0, 2.806 - 57.615+55.763))
=163.735

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

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

Thesis Gold & Silver's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Nov. 2025  Q: Feb. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-8.372/( ( (155.05 + max(-3.745, 0)) + (162.111 + max(-2.31, 0)) )/ 2 )
=-8.372/( ( 155.05 + 162.111 )/ 2 )
=-8.372/158.5805
=-5.28 %

where Working Capital is:

Working Capital(Q: Nov. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0.951) - (3.41 + 1.286 + -8.8817841970013E-16)
=-3.745

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0.355) - (1.587 + 1.076 + 0.0019999999999998)
=-2.31

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Feb. 2026) EBIT data.

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

Thesis Gold & Silver's Operating Margin % for the quarter that ended in Feb. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Feb. 2026 )/Revenue (Q: Feb. 2026 )
=-2.479/0
= %

* 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.

Thesis Gold & Silver Operating Income Related Terms

Thesis Gold & Silver Operating Income Historical Data

* Premium members only.

The historical data trend for Thesis Gold & Silver'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.

Thesis Gold & Silver Operating Income Chart

Thesis Gold & Silver Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only -9.66 -2.89 -3.23 -3.62 -7.01

Thesis Gold & Silver Quarterly Data
May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
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 -1.12 -1.14 -1.83 -1.47 -2.48
THSGF
30GF Score
Thesis Gold & Silver Inc THSGF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Thesis Gold & Silver 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 Feb. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-6.92 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 $-6.92 Mil mean?
Thesis Gold & Silver (THSGF) has a Operating Income of $-6.92 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Thesis Gold & Silver and its competitors.
Is Thesis Gold & Silver's Operating Income too high?
Thesis Gold & Silver's current Operating Income is $-6.92 Mil. Overall, Thesis Gold & Silver has a GF Score™ of 30/100, reflecting its overall financial health beyond just this single metric.
How does Thesis Gold & Silver's Operating Income compare to competitors?
Thesis Gold & Silver's Operating Income of $-6.92 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 Thesis Gold & Silver and its competitors. Thesis Gold & Silver's current Operating Income is $-6.92 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thesis Gold & Silver stock overvalued right now?
Thesis Gold & Silver (THSGF) has a current Operating Income of $-6.92 Mil. The current Operating Income is $-6.92 Mil. Thesis Gold & Silver's overall GF Score™ is 30/100 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 Thesis Gold & Silver (THSGF), the current Operating Income is $-6.92 Mil as of Feb. 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.

Thesis Gold & Silver Business Description

Other Exchanges 0110:GermanyTAU:Canada
Address 1075 West Georgia Street, Suite 1050, Vancouver, BC, CAN, V6E 3C9
Thesis Gold & Silver Inc is a resource company focused on unlocking the potential of its owned Lawyers-Ranch Project, a gold-silver exploration property located in the prolific and re-emerging Toodoggone Mining District, in north-central British Columbia.
30GF Score

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

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