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Mori Trust Reit (Mori Trust Reit) Operating Income : $53.05 Mil (TTM As of Sep. 2022)


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What is Mori Trust Reit Operating Income?

Mori Trust Reit's Operating Income for the six months ended in Sep. 2022 was $23.93 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2022 was $53.05 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Mori Trust Reit's Operating Income for the six months ended in Sep. 2022 was $23.93 Mil. Mori Trust Reit's Revenue for the six months ended in Sep. 2022 was $48.17 Mil. Therefore, Mori Trust Reit's Operating Margin % for the quarter that ended in Sep. 2022 was 49.67%.

Mori Trust Reit'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. Mori Trust Reit's annualized ROC % for the quarter that ended in Sep. 2022 was 2.00%. Mori Trust Reit's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2022 was 2.01%.


Mori Trust Reit Operating Income Historical Data

The historical data trend for Mori Trust Reit'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.

Mori Trust Reit Operating Income Chart

Mori Trust Reit Annual Data
Trend Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 93.77 98.90 102.62 100.11 59.12

Mori Trust Reit Semi-Annual Data
Sep13 Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Feb24
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 50.27 50.50 42.52 23.93 53.05

Mori Trust Reit 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 Sep. 2022 adds up the semi-annually data reported by the company within the most recent 12 months, which was $53.05 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.


Mori Trust Reit  (OTCPK:MRGIF) Operating Income Explanation

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

Mori Trust Reit's annualized ROC % for the quarter that ended in Sep. 2022 is calculated as:

ROC % (Q: Sep. 2022 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2022 ) + Invested Capital (Q: Sep. 2022 ))/ count )
=47.854 * ( 1 - -9.45% )/( (2900.522 + 2340.421)/ 2 )
=52.376203/2620.4715
=2.00 %

where

Invested Capital(Q: Mar. 2022 )
=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))
=2741.429 - 3.957 - ( 123.808 - max(0, 314.668 - 151.618+123.808))
=2900.522

Invested Capital(Q: Sep. 2022 )
=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))
=2274.563 - 4.251 - ( 115.396 - max(0, 208.32 - 138.211+115.396))
=2340.421

Note: The Operating Income data used here is two times the semi-annual (Sep. 2022) data.

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

Mori Trust Reit's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2022 is calculated as:

ROC (Joel Greenblatt) %(Q: Sep. 2022 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2022  Q: Sep. 2022
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=47.688/( ( (2588.905 + max(12.514, 0)) + (2135.383 + max(9.911, 0)) )/ 2 )
=47.688/( ( 2601.419 + 2145.294 )/ 2 )
=47.688/2373.3565
=2.01 %

where Working Capital is:

Working Capital(Q: Mar. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.353 + 0 + 27.446) - (3.957 + 0 + 11.328)
=12.514

Working Capital(Q: Sep. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.541 + 0 + 22.274) - (4.251 + 0 + 8.653)
=9.911

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Sep. 2022) EBIT data.

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

Mori Trust Reit's Operating Margin % for the quarter that ended in Sep. 2022 is calculated as:

Operating Margin %=Operating Income (Q: Sep. 2022 )/Revenue (Q: Sep. 2022 )
=23.927/48.172
=49.67 %

* 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.


Mori Trust Reit Operating Income Related Terms

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Mori Trust Reit (Mori Trust Reit) Business Description

Traded in Other Exchanges
Address
3-1 Toranomon 4-chome, Minato-ku, Tokyo, JPN
Mori Trust Reit Inc is a real estate investment trust company. Its objective is to achieve sustainable growth and stable earnings from mid- to long-term perspectives. It invests in office buildings, commercial facilities, housings, and hotels. The company owns more than 10 properties in and around Central Tokyo and others. The company generates its revenue from its leasing business.

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