THS Maple Holdings (TSXV:YAY) Operating Income: C$-1.21 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

What is THS Maple Holdings Operating Income?

THS Maple Holdings TSXV:YAY Operating Income is C$-1.21 Mil as of Mar. 2026. The stock has 2 warning signs investors should review.

THS Maple Holdings's Operating Income for the three months ended in Mar. 2026 was C$-0.72 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was C$-1.21 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. THS Maple Holdings's Operating Income for the three months ended in Mar. 2026 was C$-0.72 Mil. THS Maple Holdings's Revenue for the three months ended in Mar. 2026 was C$3.09 Mil. Therefore, THS Maple Holdings's Operating Margin % for the quarter that ended in Mar. 2026 was -23.11%.

THS Maple Holdings'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. THS Maple Holdings's annualized ROC % for the quarter that ended in Mar. 2026 was -30.51%. THS Maple Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -32.87%.

THS Maple Holdings  (TSXV:YAY) Operating Income Explanation

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

THS Maple Holdings'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 )
=-2.86 * ( 1 - 0% )/( (9.149 + 9.596)/ 2 )
=-2.86/9.3725
=-30.51 %

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))
=11.548 - 2.214 - ( 0.185 - max(0, 7.573 - 8.193+0.185))
=9.149

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))
=10.57 - 1.37 - ( 0.098 - max(0, 7.653 - 7.257+0.098))
=9.596

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

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

THS Maple Holdings'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 )
=-2.908/( ( (3.235 + max(5.716, 0)) + (3.22 + max(5.523, 0)) )/ 2 )
=-2.908/( ( 8.951 + 8.743 )/ 2 )
=-2.908/8.847
=-32.87 %

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)
=(1.319 + 6.429 + 0.26) - (2.214 + 0.077 + 0.0010000000000012)
=5.716

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1.489 + 5.497 + 0.173) - (1.37 + 0.265 + 0.00099999999999945)
=5.523

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 %:

THS Maple Holdings'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 )
=-0.715/3.094
=-23.11 %

* 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.

THS Maple Holdings Operating Income Related Terms

THS Maple Holdings Operating Income Historical Data

* Premium members only.

The historical data trend for THS Maple Holdings'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.

THS Maple Holdings Operating Income Chart

THS Maple Holdings Annual Data
Trend Nov21 Nov22 Nov23 Jun25
Operating Income
0.00 -0.83 -0.76 -0.78

THS Maple Holdings Quarterly Data
Nov21 Nov22 Feb23 Nov23 Feb24 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 -0.40 -0.31 0.26 -0.45 -0.72

THS Maple Holdings 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$-1.21 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$-1.21 Mil mean?
THS Maple Holdings (TSXV:YAY) has a Operating Income of C$-1.21 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on THS Maple Holdings and its competitors.
Is THS Maple Holdings' Operating Income too high?
THS Maple Holdings' current Operating Income is C$-1.21 Mil.
How does THS Maple Holdings' Operating Income compare to MDLZ and HSY?
THS Maple Holdings' Operating Income of C$-1.21 Mil can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Operating Income depends on the Consumer Packaged Goods 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 THS Maple Holdings and its competitors. THS Maple Holdings's current Operating Income is C$-1.21 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is THS Maple Holdings stock overvalued right now?
THS Maple Holdings (TSXV:YAY) has a current Operating Income of C$-1.21 Mil. The current Operating Income is C$-1.21 Mil. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For THS Maple Holdings (TSXV:YAY), the current Operating Income is C$-1.21 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.

THS Maple Holdings Business Description

Address 1037 Industrial Boulevard, Granby, QC, CAN, J2J 2B8
THS Maple Holdings Ltd supplies bottles, packages, and markets high-quality maple syrup and maple syrup products. Geographically the company generates the majority of its revenue from Canada. The Company's principal source of revenue is the sale of maple syrup and maple syrup products to retail and wholesale customers.