ZMPLF (Zimplats Holdings) Operating Income: $282 Mil (TTM As of Dec. 2025)

What is Zimplats Holdings Operating Income?

Zimplats Holdings ZMPLF 68 Operating Income is $282 Mil as of Dec. 2025. GuruFocus rates ZMPLF with a GF Score™ of 68/100 and a GF Value™ of $15.05 (Possible Value Trap). The stock has 4 warning signs investors should review.

Zimplats Holdings's Operating Income for the six months ended in Dec. 2025 was $214 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $282 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Zimplats Holdings's Operating Income for the six months ended in Dec. 2025 was $214 Mil. Zimplats Holdings's Revenue for the six months ended in Dec. 2025 was $642 Mil. Therefore, Zimplats Holdings's Operating Margin % for the quarter that ended in Dec. 2025 was 33.32%.

Warning Sign:

Zimplats Holdings Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -30.8%.

Zimplats Holdings's 5-Year average Growth Rate for Operating Margin % was -30.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Zimplats Holdings's annualized ROC % for the quarter that ended in Dec. 2025 was 12.64%. Zimplats Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 18.25%.

Zimplats Holdings (OTCPK:ZMPLF) Operating Income Explanation

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

Zimplats Holdings's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

	ROC % (Q: Dec. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2025 )	+	Invested Capital (Q: Dec. 2025 ))	/ count )
=	427.67 * ( 1 - 29.34% )	/	( (2330.467	+	2451.72)	/ 2 )
=	302.191622	/	2391.0935
=	12.64 %

where

	Invested Capital		(Q: Jun. 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	))
=	2625.868	-	196.13	-	( 99.271	-	max(0, 304.026	-	647.213	+	99.271	))
=	2330.467

	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	))
=	2800.766	-	203.336	-	( 145.71	-	max(0, 310.841	-	821.982	+	145.71	))
=	2451.72

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

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

Zimplats Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2025 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2025		Q: Dec. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	421.42	/	( ( (1967.703 + max(249.397, 0))	+	(1967.91 + max(433.506, 0)) )	/	2 )
=	421.42	/	( ( 2217.1	+	2401.416 )	/	2 )
=	421.42	/	2309.258
=	18.25 %

where Working Capital is:

	Working Capital		(Q: Jun. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(273.667	+	109.951	+	69.73)	-	(196.13	+	0	+	7.821)
=	249.397

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(535.03	+	141.242	+	0)	-	(203.336	+	31.203	+	8.227)
=	433.506

When net working capital is negative, 0 is used.

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

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

Zimplats Holdings's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2025 )	/	Revenue (Q: Dec. 2025 )
	=	213.835	/	641.754
	=	33.32 %

* 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.

Zimplats Holdings Operating Income Related Terms

Zimplats Holdings Operating Income Historical Data

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The historical data trend for Zimplats Holdings's Operating Income can be seen below:

Zimplats Holdings Operating Income Chart

Zimplats Holdings Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

Operating Income

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798.89

636.27

302.10

76.34

88.85

Zimplats Holdings Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Operating Income	Get a 7-Day Free Trial															26.69	49.65	20.98	67.88	213.84

68GF Score

Zimplats Holdings Ltd ZMPLF

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Zimplats 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was $282 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $282 Mil mean?

Zimplats Holdings (ZMPLF) has a Operating Income of $282 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Zimplats Holdings and its competitors.

Is Zimplats Holdings' Operating Income too high?

Zimplats Holdings' current Operating Income is $282 Mil. Overall, Zimplats Holdings has a GF Score™ of 68/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Zimplats Holdings' Operating Income compare to HL?

Zimplats Holdings' Operating Income of $282 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 Zimplats Holdings and its competitors. Zimplats Holdings's current Operating Income is $282 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Zimplats Holdings stock overvalued right now?

Based on GuruFocus' analysis, Zimplats Holdings (ZMPLF) is currently considered Possible Value Trap. The stock's GF Value™ is $15.05, compared to a current price of $10.00 — trading 33.6% below its estimated fair value. The current Operating Income is $282 Mil. Zimplats Holdings' overall GF Score™ is 68/100 with 4 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 Zimplats Holdings (ZMPLF), the current Operating Income is $282 Mil as of Dec. 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.

Is Zimplats Holdings (ZMPLF) Overvalued in 2026?

Based on GuruFocus' analysis, Zimplats Holdings stock appears to be undervalued. The current stock price of $10.00 is trading 33.6% below its estimated GF Value™ of $15.05. GuruFocus considers Zimplats Holdings to be Possible Value Trap.

Key valuation signals for ZMPLF:

Operating Income: $282 Mil
GF Value™: $15.05 vs. price of $10.00 (33.6% below fair value)
GF Score™: 68/100 with 4 warning signs

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

Zimplats Holdings Business Description

Industry Basic Materials Metals & Mining

Comparable Companies ASX:BRE ASX:MI6 ASX:LRV ASX:FRS ASX:A1M ASX:SMI ASX:29M ASX:TOK ASX:AZY ASX:MM8 LSE:FRES JSE:VAL ISX:AMMN HL JSE:IMP LIM:BUENAVC1 JSE:SSW TSX:TFPM TSX:CGG JSE:NPH

Other Exchanges N3F:Germany ZIM:Australia

Address Elizabeth House Les Ruettes Brayes, 1st and 2nd Floors, Saint Peter Port, GGY, GY1 1EW

Website https://www.zimplats.com

Zimplats Holdings Ltd is engaged in the production of the platinum group and associated metals such as platinum, palladium, rhodium, iridium, ruthenium, and other associated metals (nickel, gold, copper, cobalt, and silver) from the Great Dyke in Zimbabwe. The Group operates as a vertically integrated mining concern and is managed as a single segment. The Group's operations are based in one geographical location, Zimbabwe. The Company operates mines in Ngezi and has processing plants in Selous and Ngezi.

68GF Score

Get the complete analysis for ZMPLF

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

$10.00

Price

$15.05

GF Value

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