ZAPPF (Zapp Electric Vehicles Group) Operating Income: $-5.83 Mil (TTM As of Mar. 2025)


What is Zapp Electric Vehicles Group Operating Income?

Zapp Electric Vehicles Group ZAPPF Operating Income is $-5.83 Mil as of Mar. 2025. The stock has 7 warning signs investors should review.

Zapp Electric Vehicles Group's Operating Income for the six months ended in Mar. 2025 was $-2.73 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 was $-5.83 Mil.

Warning Sign:

Zapp Electric Vehicles Group Ltd has never been profitable in the past 3 years. It lost money every year.

Operating Margin % is calculated as Operating Income divided by its Revenue. Zapp Electric Vehicles Group's Operating Income for the six months ended in Mar. 2025 was $-2.73 Mil. Zapp Electric Vehicles Group's Revenue for the six months ended in Mar. 2025 was $0.00 Mil. Therefore, Zapp Electric Vehicles Group's Operating Margin % for the quarter that ended in Mar. 2025 was %.

Zapp Electric Vehicles Group'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. Zapp Electric Vehicles Group's annualized ROC % for the quarter that ended in Mar. 2025 was -73.76%. Zapp Electric Vehicles Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 was -821.85%.

Zapp Electric Vehicles Group  (OTCPK:ZAPPF) Operating Income Explanation

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

Zapp Electric Vehicles Group's annualized ROC % for the quarter that ended in Mar. 2025 is calculated as:

ROC % (Q: Mar. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2024 ) + Invested Capital (Q: Mar. 2025 ))/ count )
=-5.466 * ( 1 - 0% )/( (8.173 + 6.649)/ 2 )
=-5.466/7.411
=-73.76 %

where

Invested Capital(Q: Sep. 2024 )
=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))
=5.395 - 20.652 - ( 1.565 - max(0, 26.885 - 3.455+1.565))
=8.173

Invested Capital(Q: Mar. 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))
=5.097 - 21.67 - ( 1.118 - max(0, 26.573 - 3.351+1.118))
=6.649

Note: The Operating Income data used here is two times the semi-annual (Mar. 2025) data.

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

Zapp Electric Vehicles Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2024  Q: Mar. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-6.32/( ( (0.8 + max(-20.284, 0)) + (0.738 + max(-20.339, 0)) )/ 2 )
=-6.32/( ( 0.8 + 0.738 )/ 2 )
=-6.32/0.769
=-821.85 %

where Working Capital is:

Working Capital(Q: Sep. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.022 + 0.505 + 0.262) - (20.652 + 0.013 + 0.408)
=-20.284

Working Capital(Q: Mar. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 1.123 + 0.284) - (21.67 + 0.013 + 0.062999999999999)
=-20.339

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2025) EBIT data.

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

Zapp Electric Vehicles Group's Operating Margin % for the quarter that ended in Mar. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2025 )/Revenue (Q: Mar. 2025 )
=-2.733/0
= %

* 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.

Zapp Electric Vehicles Group Operating Income Related Terms

Zapp Electric Vehicles Group Operating Income Historical Data

* Premium members only.

The historical data trend for Zapp Electric Vehicles Group'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.

Zapp Electric Vehicles Group Operating Income Chart

Zapp Electric Vehicles Group Annual Data
Trend Sep20 Sep21 Sep22 Sep23 Sep24
Operating Income
0.00 -1.21 -3.61 -7.80 -6.23

Zapp Electric Vehicles Group Semi-Annual Data
Sep20 Sep21 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25
Operating Income Get a 7-Day Free Trial -3.86 -3.94 -3.13 -3.10 -2.73

Zapp Electric Vehicles Group 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. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was $-5.83 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 $-5.83 Mil mean?
Zapp Electric Vehicles Group (ZAPPF) has a Operating Income of $-5.83 Mil as of Mar. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Zapp Electric Vehicles Group and its competitors.
Is Zapp Electric Vehicles Group's Operating Income too high?
Zapp Electric Vehicles Group's current Operating Income is $-5.83 Mil.
How does Zapp Electric Vehicles Group's Operating Income compare to TSLA and GM?
Zapp Electric Vehicles Group's Operating Income of $-5.83 Mil can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good Operating Income depends on the Vehicles & Parts 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 Zapp Electric Vehicles Group and its competitors. Zapp Electric Vehicles Group's current Operating Income is $-5.83 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zapp Electric Vehicles Group stock overvalued right now?
Zapp Electric Vehicles Group (ZAPPF) has a current Operating Income of $-5.83 Mil. The current Operating Income is $-5.83 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 Zapp Electric Vehicles Group (ZAPPF), the current Operating Income is $-5.83 Mil as of Mar. 2025. 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.

Zapp Electric Vehicles Group Business Description

Address 87/1 Wireless Road, 26/F Capital Tower, All Seasons Place, Lumpini, Patumwan, Bangkok, THA, 10330
Zapp Electric Vehicles Group Ltd designs manufactures, and sells high-performance electric vehicles, including maintenance and repair of electric vehicles and related parts and accessories. Companies founders are automotive professionals from all over the world who share a commitment to sustainability, a long passion for electric vehicles, motorcycles, and believe in the choice of personal urban mobility. The company operates in Cayman Islands, Europe, Thailand. Maximum of revenue is from Thailand.