Novagold Resources (TSX:NG) Operating Income: C$-44.68 Mil (TTM As of May. 2026)

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TSX:NG Novagold Resources Inc TSX:NG
33 GF Score
Price C$8.36
! 1 Warning Sign
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What is Novagold Resources Operating Income?

Novagold Resources TSX:NG +0.36% 33 Operating Income is C$-44.68 Mil as of May. 2026. GuruFocus rates TSX:NG with a GF Score™ of 33/100. The stock has 1 warning sign investors should review.

Novagold Resources's Operating Income for the three months ended in May. 2026 was C$-12.23 Mil. Its Operating Income for the trailing twelve months (TTM) ended in May. 2026 was C$-44.68 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Novagold Resources's Operating Income for the three months ended in May. 2026 was C$-12.23 Mil. Novagold Resources's Revenue for the three months ended in May. 2026 was C$0.00 Mil. Therefore, Novagold Resources's Operating Margin % for the quarter that ended in May. 2026 was %.

Novagold Resources'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. Novagold Resources's annualized ROC % for the quarter that ended in May. 2026 was -15.97%. Novagold Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2026 was -11,768.05%.

Novagold Resources  (TSX:NG) Operating Income Explanation

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

Novagold Resources's annualized ROC % for the quarter that ended in May. 2026 is calculated as:

ROC % (Q: May. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Feb. 2026 ) + Invested Capital (Q: May. 2026 ))/ count )
=-48.936 * ( 1 - 0% )/( (305.201 + 307.703)/ 2 )
=-48.936/306.452
=-15.97 %

where

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))
=845.404 - 5.652 - ( 537.975 - max(0, 6.094 - 540.645+537.975))
=305.201

Invested Capital(Q: May. 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))
=821.297 - 4.105 - ( 509.489 - max(0, 4.572 - 515.813+509.489))
=307.703

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

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

Novagold Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: May. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Feb. 2026  Q: May. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-119.328/( ( (1.047 + max(-4.684, 0)) + (0.981 + max(-3.362, 0)) )/ 2 )
=-119.328/( ( 1.047 + 0.981 )/ 2 )
=-119.328/1.014
=-11,768.05 %

where Working Capital is:

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.087 + 0 + 1.077) - (5.652 + 0 + 0.196)
=-4.684

Working Capital(Q: May. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.078 + 0 + 0.87800000000004) - (4.105 + 0 + 0.213)
=-3.362

When net working capital is negative, 0 is used.

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

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

Novagold Resources's Operating Margin % for the quarter that ended in May. 2026 is calculated as:

Operating Margin %=Operating Income (Q: May. 2026 )/Revenue (Q: May. 2026 )
=-12.234/0
= %

* 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.

Novagold Resources Operating Income Related Terms

Novagold Resources Operating Income Historical Data

* Premium members only.

The historical data trend for Novagold Resources'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.

Novagold Resources Operating Income Chart

Novagold Resources Annual Data
Trend Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23 Nov24 Nov25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only -22.19 -26.41 -29.81 -35.32 -35.65

Novagold Resources Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
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 -8.04 -8.66 -11.92 -11.87 -12.23
TSX:NG
33GF Score
Novagold Resources Inc TSX:NG
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Novagold Resources 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 May. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was C$-44.68 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$-44.68 Mil mean?
Novagold Resources (TSX:NG) has a Operating Income of C$-44.68 Mil as of May. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Novagold Resources and its competitors.
Is Novagold Resources' Operating Income too high?
Novagold Resources' current Operating Income is C$-44.68 Mil. Overall, Novagold Resources has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.
How does Novagold Resources' Operating Income compare to NEM and AU?
Novagold Resources' Operating Income of C$-44.68 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 Novagold Resources and its competitors. Novagold Resources's current Operating Income is C$-44.68 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Novagold Resources stock overvalued right now?
Novagold Resources (TSX:NG) has a current Operating Income of C$-44.68 Mil. The current Operating Income is C$-44.68 Mil. Novagold Resources' overall GF Score™ is 33/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Novagold Resources (TSX:NG), the current Operating Income is C$-44.68 Mil as of May. 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.

Novagold Resources Business Description

Address 201 South Main Street, Suite 400, Salt Lake City, UT, USA, 84111
Novagold Resources Inc operates in the gold mining industry, focused on advancing the Donlin Gold project in Alaska. The Donlin Gold project is held by Donlin Gold LLC (Donlin Gold), a limited liability company owned equally by wholly owned subsidiaries of NOVAGOLD and Barrick Gold Corporation (Barrick). The company includes exploration and development activities of gold and other precious metals.
33GF Score

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