Ag Growth International (TSX:AFN) Operating Income: C$104 Mil (TTM As of Mar. 2026)

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TSX:AFN Ag Growth International Inc TSX:AFN
55 GF Score
Price C$19.48
GF Value C$47.07
Valuation Possible Value Trap
! 7 Warning Signs
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What is Ag Growth International Operating Income?

Ag Growth International TSX:AFN +1.88% 55 Operating Income is C$104 Mil as of Mar. 2026. GuruFocus rates TSX:AFN with a GF Score™ of 55/100 and a GF Value™ of C$47.07 (Possible Value Trap). The stock has 7 warning signs investors should review.

Ag Growth International's Operating Income for the three months ended in Mar. 2026 was C$5 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was C$104 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Ag Growth International's Operating Income for the three months ended in Mar. 2026 was C$5 Mil. Ag Growth International's Revenue for the three months ended in Mar. 2026 was C$282 Mil. Therefore, Ag Growth International's Operating Margin % for the quarter that ended in Mar. 2026 was 1.69%.

Good Sign:

Ag Growth International Inc operating margin is expanding. Margin expansion is usually a good sign.

Ag Growth International's 5-Year average Growth Rate for Operating Margin % was 50.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Ag Growth International's annualized ROC % for the quarter that ended in Mar. 2026 was 1.24%. Ag Growth International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -17.77%.

Ag Growth International  (TSX:AFN) Operating Income Explanation

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

Ag Growth International'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 )
=19.096 * ( 1 - 8.11% )/( (1381.061 + 1444.935)/ 2 )
=17.5473144/1412.998
=1.24 %

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))
=1713.749 - 287.029 - ( 45.659 - max(0, 496.511 - 638.227+45.659))
=1381.061

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))
=1764.818 - 289.246 - ( 30.637 - max(0, 485.932 - 657.183+30.637))
=1444.935

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

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

Ag Growth International'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 )
=-101.672/( ( (364.456 + max(185.901, 0)) + (360.852 + max(232.91, 0)) )/ 2 )
=-101.672/( ( 550.357 + 593.762 )/ 2 )
=-101.672/572.0595
=-17.77 %

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)
=(301.72 + 194.129 + 91.068) - (287.029 + 84.461 + 29.526)
=185.901

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(296.556 + 215.472 + 110.598) - (289.246 + 81.245 + 19.225)
=232.91

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 %:

Ag Growth International'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 )
=4.774/282.167
=1.69 %

* 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.

Ag Growth International Operating Income Related Terms

Ag Growth International Operating Income Historical Data

* Premium members only.

The historical data trend for Ag Growth International'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.

Ag Growth International Operating Income Chart

Ag Growth International 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 67.79 131.18 176.26 162.81 108.82

Ag Growth International 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 9.13 30.20 49.41 20.09 4.77
TSX:AFN
55GF Score
Ag Growth International Inc TSX:AFN
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Ag Growth International 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 C$104 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 C$104 Mil mean?
Ag Growth International (TSX:AFN) has a Operating Income of C$104 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Ag Growth International and its competitors.
Is Ag Growth International's Operating Income too high?
Ag Growth International's current Operating Income is C$104 Mil. Overall, Ag Growth International has a GF Score™ of 55/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Ag Growth International's Operating Income compare to CAT and DE?
Ag Growth International's Operating Income of C$104 Mil can be compared against companies in the Farm & Heavy Construction Machinery 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 Farm & Heavy Construction Machinery company?
A good Operating Income depends on the Farm & Heavy Construction Machinery 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 Ag Growth International and its competitors. Ag Growth International's current Operating Income is C$104 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ag Growth International stock overvalued right now?
Based on GuruFocus' analysis, Ag Growth International (TSX:AFN) is currently considered Possible Value Trap. The stock's GF Value™ is C$47.07, compared to a current price of C$19.48 — trading 58.6% below its estimated fair value. The current Operating Income is C$104 Mil. Ag Growth International's overall GF Score™ is 55/100 with 7 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 Ag Growth International (TSX:AFN), the current Operating Income is C$104 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 Ag Growth International (TSX:AFN) Overvalued in 2026?

Based on GuruFocus' analysis, Ag Growth International stock appears to be undervalued. The current stock price of C$19.48 is trading 58.6% below its estimated GF Value™ of C$47.07. GuruFocus considers Ag Growth International to be Possible Value Trap.

Key valuation signals for TSX:AFN:

  • Operating Income: C$104 Mil
  • GF Value™: C$47.07 vs. price of C$19.48 (58.6% below fair value)
  • GF Score™: 55/100 with 7 warning signs

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

Ag Growth International Business Description

Other Exchanges AGGZF:USA7AG:Germany
Address 198 Commerce Drive, Winnipeg, MB, CAN, R3P 0Z6
Ag Growth International Inc manufactures portable and stationary grain handling, storage, and conditioning equipment, including augers, belt conveyors, grain storage bins, grain handling accessories, grain aeration equipment, and grain drying systems. It has two reportable segments, Farm and Commercial. It has manufacturing facilities in Canada, the United States, Italy, Brazil, France, the United Kingdom, and India. Its geographical segments are Canada, the United States, and the International.
55GF Score

Get the complete analysis for TSX:AFN

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

C$19.48
Price
C$47.07
GF Value