TUNGF (American Tungsten) Operating Income: $-14.72 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.

TUNGF American Tungsten Corp TUNGF
14 GF Score
Price $1.08
! 1 Warning Sign
View Full Analysis

What is American Tungsten Operating Income?

American Tungsten TUNGF -10.45% 14 Operating Income is $-14.72 Mil as of Mar. 2026. GuruFocus rates TUNGF with a GF Score™ of 14/100. The stock has 1 warning sign investors should review.

American Tungsten's Operating Income for the three months ended in Mar. 2026 was $-4.27 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $-14.72 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. American Tungsten's Operating Income for the three months ended in Mar. 2026 was $-4.27 Mil. American Tungsten's Revenue for the three months ended in Mar. 2026 was $0.00 Mil. Therefore, American Tungsten's Operating Margin % for the quarter that ended in Mar. 2026 was %.

American Tungsten'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. American Tungsten's annualized ROC % for the quarter that ended in Mar. 2026 was -5,576.51%. American Tungsten's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -40,216.47%.


American Tungsten  (OTCPK:TUNGF) Operating Income Explanation

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

American Tungsten'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 )
=-17.092 * ( 1 - 0% )/( (0.027000000000001 + 0.586)/ 2 )
=-17.092/0.3065
=-5,576.51 %

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))
=14.287 - 0.289 - ( 14.079 - max(0, 0.289 - 14.26+14.079))
=0.027000000000001

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

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

American Tungsten'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 )
=-17.092/( ( (0.027 + max(-0.252, 0)) + (0.058 + max(-0.87799999999999, 0)) )/ 2 )
=-17.092/( ( 0.027 + 0.058 )/ 2 )
=-17.092/0.0425
=-40,216.47 %

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 + 0 + 0.036999999999999) - (0.289 + 0 + 0)
=-0.252

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0.26800000000001) - (1.146 + 0 + 0)
=-0.87799999999999

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 %:

American Tungsten'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 )
=-4.273/0
= %

* 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.


American Tungsten Operating Income Related Terms


American Tungsten Operating Income Historical Data

* Premium members only.

The historical data trend for American Tungsten'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.

American Tungsten Operating Income Chart

American Tungsten Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial -0.18 -0.17 -0.37 -0.52 -11.81

American Tungsten Quarterly Data
Dec20 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 -1.30 -1.11 -4.17 -5.17 -4.27
TUNGF
14GF Score
American Tungsten Corp TUNGF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

American Tungsten 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 $-14.72 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 $-14.72 Mil mean?
American Tungsten (TUNGF) has a Operating Income of $-14.72 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on American Tungsten and its competitors.
Is American Tungsten's Operating Income too high?
American Tungsten's current Operating Income is $-14.72 Mil. Overall, American Tungsten has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does American Tungsten's Operating Income compare to competitors?
American Tungsten's Operating Income of $-14.72 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 American Tungsten and its competitors. American Tungsten's current Operating Income is $-14.72 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is American Tungsten stock overvalued right now?
American Tungsten (TUNGF) has a current Operating Income of $-14.72 Mil. The current Operating Income is $-14.72 Mil. American Tungsten's overall GF Score™ is 14/100 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 American Tungsten (TUNGF), the current Operating Income is $-14.72 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.

American Tungsten Business Description

Other Exchanges TUNG:Canada
Address 1200, 750 Pender Street West, Vancouver, BC, CAN, V6C 2T8
American Tungsten Corp is a Canadian exploration company focused on advancing high-grade magnetite mineral properties. Its flagship asset, the IMA Mine Project in Idaho, is a past-producing tungsten property with historical output. With an option to secure 100 percent ownership, American Tungsten is strategically positioned to capitalize on the growing demand for critical minerals. The company also holds the Star Project, spanning approximately 4,615.75 hectares in British Columbia. The company operates in one reportable operating segment, being the acquisition and exploration of mineral properties in Canada and the USA.
14GF Score

Get the complete analysis for TUNGF

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

$1.08
Price