Esrey Resources (TSXV:ESR.H) Operating Income : C$-0.13 Mil (TTM As of Jun. 2021)

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What is Esrey Resources Operating Income?

Esrey Resources's Operating Income for the three months ended in Jun. 2021 was C$-0.01 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2021 was C$-0.13 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Esrey Resources's Operating Income for the three months ended in Jun. 2021 was C$-0.01 Mil. Esrey Resources's Revenue for the three months ended in Jun. 2021 was C$0.00 Mil. Therefore, Esrey Resources's Operating Margin % for the quarter that ended in Jun. 2021 was %.

Esrey 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. Esrey Resources's annualized ROC % for the quarter that ended in Jun. 2021 was -14.44%. Esrey Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2021 was %.

Esrey Resources Operating Income Historical Data

The historical data trend for Esrey 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.

* Premium members only.

Esrey Resources Operating Income Chart

Esrey Resources Annual Data

Trend

Sep11

Sep12

Sep13

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Operating Income

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-1.23

-1.21

-6.04

-2.87

-0.25

Esrey Resources Quarterly Data
	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21
Operating Income	Get a 7-Day Free Trial															-0.05	-0.10	-	-0.02	-0.01

Esrey 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 Jun. 2021 adds up the quarterly data reported by the company within the most recent 12 months, which was C$-0.13 Mil.

Esrey Resources (TSXV:ESR.H) Operating Income Explanation

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

Esrey Resources's annualized ROC % for the quarter that ended in Jun. 2021 is calculated as:

	ROC % (Q: Jun. 2021 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2021 )	+	Invested Capital (Q: Jun. 2021 ))	/ count )
=	-0.048 * ( 1 - 0% )	/	( (0.335	+	0.33)	/ 2 )
=	-0.048	/	0.3325
=	-14.44 %

where

	Invested Capital		(Q: Mar. 2021 )
=	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	))
=	0.437	-	1.826	-	( 0.194	-	max(0, 2.049	-	0.325	+	0.194	))
=	0.335

	Invested Capital		(Q: Jun. 2021 )
=	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	))
=	0.434	-	1.834	-	( 0.193	-	max(0, 2.052	-	0.322	+	0.193	))
=	0.33

Note: The Operating Income data used here is four times the quarterly (Jun. 2021) data.

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

Esrey Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2021 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2021 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2021		Q: Jun. 2021
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-0.024	/	( ( (0 + max(-1.696, 0))	+	(0 + max(-1.704, 0)) )	/	2 )
=	-0.024	/	( ( 0	+	0 )	/	2 )
=	-0.024	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Mar. 2021 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.13	+	0	+	0.001)	-	(1.826	+	0	+	0.00099999999999989)
=	-1.696

	Working Capital		(Q: Jun. 2021 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.129	+	0	+	0)	-	(1.834	+	0	+	-0.00099999999999989)
=	-1.704

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2021) EBIT data.

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

Esrey Resources's Operating Margin % for the quarter that ended in Jun. 2021 is calculated as:

Operating Margin %	=	Operating Income (Q: Jun. 2021 )	/	Revenue (Q: Jun. 2021 )
	=	-0.012	/	0
	=	%

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.

Esrey Resources Operating Income Related Terms

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Esrey Resources (TSXV:ESR.H) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Esrey Resources Ltd (TSXV:ESR.H) » Definitions » Operating Income

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Address

1075 West Georgia Street, Suite 1010, Vancouver, BC, CAN, V6E 3C9

Website

https://www.esreyresources.com

Esrey Resources Ltd is a Canada based company focused on the extraction of zinc, lead and other metals from these waste materials in a hydrometallurgical process. Its hydrometallurgical pilot plant, located in Macedonia, is capable to develop hydrometallurgical processing approximately 100 tonnes of feed per annum.

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