Brookfield Infrastructure Partners LP (Brookfield Infrastructure Partners LP) Operating Income

: $4,048 Mil (TTM As of Dec. 2023)

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Brookfield Infrastructure Partners LP's Operating Income for the three months ended in Dec. 2023 was $1,292 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $4,048 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Brookfield Infrastructure Partners LP's Operating Income for the three months ended in Dec. 2023 was $1,292 Mil. Brookfield Infrastructure Partners LP's Revenue for the three months ended in Dec. 2023 was $4,970 Mil. Therefore, Brookfield Infrastructure Partners LP's Operating Margin % for the quarter that ended in Dec. 2023 was 26.00%.

Warning Sign:

Brookfield Infrastructure Partners LP operating margin has been in a 5-year decline. The average rate of decline per year is -4.5%.

Brookfield Infrastructure Partners LP's 5-Year average Growth Rate for Operating Margin % was -4.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Brookfield Infrastructure Partners LP's annualized ROC % for the quarter that ended in Dec. 2023 was 3.24%. Brookfield Infrastructure Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 7.72%.

Brookfield Infrastructure Partners LP Operating Income Historical Data

The historical data trend for Brookfield Infrastructure Partners LP'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.

Array ( [0] => - [1] => - [2] => - [3] => - [4] => - [5] => 1,709.00 [6] => 2,025.00 [7] => 2,884.00 [8] => 3,484.00 [9] => 4,048.00 )

Brookfield Infrastructure Partners LP Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

1,709.00

2,025.00

2,884.00

3,484.00

4,048.00

Brookfield Infrastructure Partners LP Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income																911.00	886.00	867.00	1,003.00	1,292.00

Brookfield Infrastructure Partners LP 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. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $4,048 Mil.

Brookfield Infrastructure Partners LP (NYSE:BIP) Operating Income Explanation

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

Brookfield Infrastructure Partners LP's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	5168 * ( 1 - 38.39% )	/	( (96219	+	100531)	/ 2 )
=	3184.0048	/	98375
=	3.24 %

where

	Invested Capital		(Q: Sep. 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	))
=	97738	-	4800	-	( 2250	-	max(0, 11090	-	7809	+	2250	))
=	96219

	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	))
=	100784	-	3979	-	( 2442	-	max(0, 11705	-	7979	+	2442	))
=	100531

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

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

Brookfield Infrastructure Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	3708	/	( ( (46981 + max(429, 0))	+	(48546 + max(85, 0)) )	/	2 )
=	3708	/	( ( 47410	+	48631 )	/	2 )
=	3708	/	48020.5
=	7.72 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(5069	+	490	+	0)	-	(4800	+	0	+	330)
=	429

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3503	+	512	+	1291)	-	(3979	+	571	+	671)
=	85

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

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

Brookfield Infrastructure Partners LP's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	1292	/	4970
	=	26.00 %

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.

Brookfield Infrastructure Partners LP Operating Income Related Terms

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Brookfield Infrastructure Partners LP (Brookfield Infrastructure Partners LP) Business Description

Industry

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BIPpB.PFD:USA BIPpA.PFD:USA BIP.PR.F.PFD:Canada BIP.PR.E.PFD:Canada BIP.UN:Canada BIP.PR.B.PFD:Canada BIP.PR.A.PFD:Canada

Address

73 Front Street, 5th Floor, Hamilton, BMU, HM12

Website

https://www.bip.brookfield.com

Brookfield Infrastructure Partners LP is a Bermuda exempted limited partnership that owns and operates quality, long-life assets that generate stable cash flows, by virtue of barriers to entry or other characteristics tend to appreciate in value over time. It focuses on acquiring infrastructure assets that have low maintenance capital costs and high barriers to entry. The company's segments consist of Utilities, Transport, Midstream, and Data. Geographically, it generates maximum revenue from Canada and also has a presence in Australia, Colombia, United Kingdom, Brazil, United States of America, Chile, Peru and other countries.