Mazda Motor (Mazda Motor) Operating Income : $1,619 Mil (TTM As of Dec. 2023)

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What is Mazda Motor Operating Income?

Mazda Motor's Operating Income for the three months ended in Dec. 2023 was $490 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $1,619 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Mazda Motor's Operating Income for the three months ended in Dec. 2023 was $490 Mil. Mazda Motor's Revenue for the three months ended in Dec. 2023 was $8,676 Mil. Therefore, Mazda Motor's Operating Margin % for the quarter that ended in Dec. 2023 was 5.65%.

Warning Sign:

Mazda Motor Corp operating margin has been in a 5-year decline. The average rate of decline per year is -2.6%.

Mazda Motor's 5-Year average Growth Rate for Operating Margin % was -2.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mazda Motor's annualized ROC % for the quarter that ended in Dec. 2023 was 11.68%. Mazda Motor's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 20.68%.

Mazda Motor Operating Income Historical Data

The historical data trend for Mazda Motor'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.

Mazda Motor Operating Income Chart

Mazda Motor Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Operating Income

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740.54

404.98

81.14

878.98

1,062.13

Mazda Motor Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															401.91	243.18	212.40	673.58	490.28

Mazda Motor 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 $1,619 Mil.

Mazda Motor (OTCPK:MZDAY) Operating Income Explanation

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

Mazda Motor'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 )
=	1961.112 * ( 1 - 0.65% )	/	( (16235.653	+	17131.473)	/ 2 )
=	1948.364772	/	16683.563
=	11.68 %

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	))
=	23710.42	-	3657.249	-	( 5283.96	-	max(0, 8767.202	-	12584.72	+	5283.96	))
=	16235.653

	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	))
=	24413.102	-	3546.983	-	( 5201.245	-	max(0, 9054.24	-	12788.886	+	5201.245	))
=	17131.473

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

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

Mazda Motor'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 )
=	1669.772	/	( ( (7996.76 + max(-395.692, 0))	+	(8151.186 + max(-360.2, 0)) )	/	2 )
=	1669.772	/	( ( 7996.76	+	8151.186 )	/	2 )
=	1669.772	/	8073.973
=	20.68 %

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)
=	(1099.388	+	4876.912	+	1324.46)	-	(3657.249	+	0	+	4039.203)
=	-395.692

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1003.803	+	5122.228	+	1461.61)	-	(3546.983	+	0	+	4400.858)
=	-360.2

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 %:

Mazda Motor'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 )
	=	490.278	/	8676.316
	=	5.65 %

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.

Mazda Motor Operating Income Related Terms

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Mazda Motor (Mazda Motor) Business Description

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GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Mazda Motor Corp (OTCPK:MZDAY) » Definitions » Operating Income

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Traded in Other Exchanges

MZDAF:USA 7261:Japan MZA0:Germany

Address

3-1 Shinchi, Fuchu-cho, Aki-gun, Hiroshima, JPN, 730-8670

Website

http://www.mazda.com

Mazda Motor Corp is a Japanese automobile manufacturer. The company primarily manufactures passenger cars and commercial vehicles. Also, Mazda manufactures diesel and petroleum gasoline engines, along with manual and automatic transmissions for vehicles. The vast majority of Mazda's production is manufactured locally. The company segments itself across four geographic areas: Japan, North America, Europe, and other markets. The company derives more than half its consolidated revenue from operations in Japan, followed by North America, and then Europe.