Torex Gold Resources (Torex Gold Resources) Operating Income : $234.1 Mil (TTM As of Mar. 2024)

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What is Torex Gold Resources Operating Income?

Torex Gold Resources's Operating Income for the three months ended in Mar. 2024 was $65.6 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was $234.1 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Torex Gold Resources's Operating Income for the three months ended in Mar. 2024 was $65.6 Mil. Torex Gold Resources's Revenue for the three months ended in Mar. 2024 was $236.5 Mil. Therefore, Torex Gold Resources's Operating Margin % for the quarter that ended in Mar. 2024 was 27.74%.

Good Sign:

Torex Gold Resources Inc operating margin is expanding. Margin expansion is usually a good sign.

Torex Gold Resources's 5-Year average Growth Rate for Operating Margin % was 11.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Torex Gold Resources's annualized ROC % for the quarter that ended in Mar. 2024 was 14.54%. Torex Gold Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 20.10%.

Torex Gold Resources Operating Income Historical Data

The historical data trend for Torex Gold Resources'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.

* Premium members only.

Torex Gold Resources Operating Income Chart

Torex Gold Resources Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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136.40

230.90

297.80

269.70

249.40

Torex Gold Resources Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Operating Income	Get a 7-Day Free Trial															79.60	65.40	21.70	81.40	65.60

Torex Gold Resources 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. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $234.1 Mil.

Torex Gold Resources (OTCPK:TORXF) Operating Income Explanation

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

Torex Gold Resources's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	262.4 * ( 1 - 13.63% )	/	( (1480.1	+	1636.7)	/ 2 )
=	226.63488	/	1558.4
=	14.54 %

where

	Invested Capital		(Q: Dec. 2023 )
=	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	))
=	1835.8	-	231.9	-	( 172.8	-	max(0, 281.7	-	405.5	+	172.8	))
=	1480.1

	Invested Capital		(Q: Mar. 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	))
=	1919	-	258.7	-	( 113.2	-	max(0, 328.1	-	351.7	+	113.2	))
=	1636.7

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

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

Torex Gold Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	262.4	/	( ( (1249 + max(-102.7, 0))	+	(1361.6 + max(-147.5, 0)) )	/	2 )
=	262.4	/	( ( 1249	+	1361.6 )	/	2 )
=	262.4	/	1305.3
=	20.10 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(10.1	+	126.6	+	18.4)	-	(231.9	+	0	+	25.9)
=	-102.7

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.3	+	124.5	+	19.1)	-	(258.7	+	0	+	33.7)
=	-147.5

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

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

Torex Gold Resources's Operating Margin % for the quarter that ended in Mar. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	65.6	/	236.5
	=	27.74 %

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.

Torex Gold Resources Operating Income Related Terms

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Torex Gold Resources (Torex Gold Resources) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Torex Gold Resources Inc (OTCPK:TORXF) » Definitions » Operating Income

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Traded in Other Exchanges

73GN:Germany TXG:Canada

Address

Exchange Tower, 130 King Street West, Suite 740, Toronto, ON, CAN, M5X 2A2

Website

https://www.torexgold.com

Torex Gold Resources Inc is an intermediate producer of gold and other precious metals, engaged in the exploration, development, and exploration of its wholly owned Morelos Gold Property. The property consists of 29,000 hectares in the Guerrero Gold Belt, located 180 kilometres southwest of Mexico City and approximately 50 kilometres southwest of Iguala. Within this property, the company has two assets: the El Limon-Guajes Mine, an open pit gold deposit located north of the Balsas river, and the Media Luna Project.