Vitreous Glass (TSXV:VCI) Operating Income: C$4.62 Mil (TTM As of Mar. 2026)

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TSXV:VCI Vitreous Glass Inc TSXV:VCI
77 GF Score
Price C$6.82
GF Value C$8.36
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Vitreous Glass Operating Income?

Vitreous Glass TSXV:VCI -0.87% 77 Operating Income is C$4.62 Mil as of Mar. 2026. GuruFocus rates TSXV:VCI with a GF Score™ of 77/100 and a GF Value™ of C$8.36 (Modestly Undervalued). The stock has 2 warning signs investors should review.

Vitreous Glass's Operating Income for the three months ended in Mar. 2026 was C$1.10 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was C$4.62 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Vitreous Glass's Operating Income for the three months ended in Mar. 2026 was C$1.10 Mil. Vitreous Glass's Revenue for the three months ended in Mar. 2026 was C$3.71 Mil. Therefore, Vitreous Glass's Operating Margin % for the quarter that ended in Mar. 2026 was 29.73%.

Warning Sign:

Vitreous Glass Inc operating margin has been in a 5-year decline. The average rate of decline per year is -2.9%.

Vitreous Glass's 5-Year average Growth Rate for Operating Margin % was -2.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Vitreous Glass's annualized ROC % for the quarter that ended in Mar. 2026 was 121.31%. Vitreous Glass's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 159.86%.


Vitreous Glass  (TSXV:VCI) Operating Income Explanation

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

Vitreous Glass'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 )
=4.416 * ( 1 - 24.11% )/( (2.883 + 2.642)/ 2 )
=3.3513024/2.7625
=121.31 %

where

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

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

Vitreous Glass'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 )
=4.416/( ( (2.337 + max(0.546, 0)) + (2.435 + max(0.207, 0)) )/ 2 )
=4.416/( ( 2.883 + 2.642 )/ 2 )
=4.416/2.7625
=159.86 %

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)
=(0.75 + 0.677 + 0.014) - (0.895 + 0 + 0)
=0.546

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.65 + 0.677 + 0.0020000000000007) - (1.122 + 0 + 0)
=0.207

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 %:

Vitreous Glass'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 )
=1.104/3.713
=29.73 %

* 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.


Vitreous Glass Operating Income Related Terms


Vitreous Glass Operating Income Historical Data

* Premium members only.

The historical data trend for Vitreous Glass'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.

Vitreous Glass Operating Income Chart

Vitreous Glass Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.36 2.85 3.30 3.08 3.98

Vitreous Glass 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 1.10 1.06 1.26 1.19 1.10
TSXV:VCI
77GF Score
Vitreous Glass Inc TSXV:VCI
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Vitreous Glass 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$4.62 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$4.62 Mil mean?
Vitreous Glass (TSXV:VCI) has a Operating Income of C$4.62 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Vitreous Glass and its competitors.
Is Vitreous Glass' Operating Income too high?
Vitreous Glass' current Operating Income is C$4.62 Mil. Overall, Vitreous Glass has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vitreous Glass' Operating Income compare to WM and RSG?
Vitreous Glass' Operating Income of C$4.62 Mil can be compared against companies in the Waste Management 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 Waste Management company?
A good Operating Income depends on the Waste Management 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 Vitreous Glass and its competitors. Vitreous Glass's current Operating Income is C$4.62 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vitreous Glass stock overvalued right now?
Based on GuruFocus' analysis, Vitreous Glass (TSXV:VCI) is currently considered Modestly Undervalued. The stock's GF Value™ is C$8.36, compared to a current price of C$6.82 — trading 18.4% below its estimated fair value. The current Operating Income is C$4.62 Mil. Vitreous Glass' overall GF Score™ is 77/100 with 2 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 Vitreous Glass (TSXV:VCI), the current Operating Income is C$4.62 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 Vitreous Glass (TSXV:VCI) Overvalued in 2026?

Based on GuruFocus' analysis, Vitreous Glass stock appears to be undervalued. The current stock price of C$6.82 is trading 18.4% below its estimated GF Value™ of C$8.36. GuruFocus considers Vitreous Glass to be Modestly Undervalued.

Key valuation signals for TSXV:VCI:

  • Operating Income: C$4.62 Mil
  • GF Value™: C$8.36 vs. price of C$6.82 (18.4% below fair value)
  • GF Score™: 77/100 with 2 warning signs

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


Vitreous Glass Business Description

Other Exchanges VCIGF:USA
Address 212 East Lake Boulevard, Airdrie, AB, CAN, T4A 0H5
Vitreous Glass Inc cleans, crushes, and sells waste glass to the fiberglass manufacturing industry. The company also removes the contaminates and crushes the glass into sand and then this sand is sold to fiberglass insulation manufacturers as furnace-ready cullet for use in their production facilities. The sole source of revenue of the company is generated by providing crushed glass to its customers.
77GF Score

Get the complete analysis for TSXV:VCI

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

C$6.82
Price
C$8.36
GF Value