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Singapore Post (Singapore Post) Operating Income : $63 Mil (TTM As of Sep. 2023)


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What is Singapore Post Operating Income?

Singapore Post's Operating Income for the six months ended in Sep. 2023 was $24 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2023 was $63 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Singapore Post's Operating Income for the six months ended in Sep. 2023 was $24 Mil. Singapore Post's Revenue for the six months ended in Sep. 2023 was $607 Mil. Therefore, Singapore Post's Operating Margin % for the quarter that ended in Sep. 2023 was 3.96%.

Warning Sign:

Singapore Post Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -16.4%.

Singapore Post's 5-Year average Growth Rate for Operating Margin % was -16.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Singapore Post's annualized ROC % for the quarter that ended in Sep. 2023 was 2.07%. Singapore Post's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 14.75%.


Singapore Post Operating Income Historical Data

The historical data trend for Singapore Post'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.

Singapore Post Operating Income Chart

Singapore Post Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 134.69 102.40 60.48 84.13 69.40

Singapore Post Semi-Annual Data
Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23
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 37.94 46.48 28.88 38.93 24.02

Singapore Post 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. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was $63 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.


Singapore Post  (OTCPK:SPSTY) Operating Income Explanation

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

Singapore Post's annualized ROC % for the quarter that ended in Sep. 2023 is calculated as:

ROC % (Q: Sep. 2023 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2023 ) + Invested Capital (Q: Sep. 2023 ))/ count )
=48.038 * ( 1 - 29.85% )/( (1718.477 + 1542.258)/ 2 )
=33.698657/1630.3675
=2.07 %

where

Invested Capital(Q: Mar. 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))
=2116.949 - 365.92 - ( 369.784 - max(0, 537.016 - 569.568+369.784))
=1718.477

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))
=2015.123 - 450.154 - ( 329.571 - max(0, 494.412 - 517.123+329.571))
=1542.258

Note: The Operating Income data used here is two times the semi-annual (Sep. 2023) data.

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

Singapore Post's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 is calculated as:

ROC (Joel Greenblatt) %(Q: Sep. 2023 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2023  Q: Sep. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=49.324/( ( (342.031 + max(-316.419, 0)) + (326.593 + max(-286.32, 0)) )/ 2 )
=49.324/( ( 342.031 + 326.593 )/ 2 )
=49.324/334.312
=14.75 %

where Working Capital is:

Working Capital(Q: Mar. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(167.258 + 0.383 + 27.949) - (365.92 + 0 + 146.089)
=-316.419

Working Capital(Q: Sep. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(163.567 + 0.31 + 23.675) - (450.154 + 0 + 23.718)
=-286.32

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Sep. 2023) EBIT data.

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

Singapore Post's Operating Margin % for the quarter that ended in Sep. 2023 is calculated as:

Operating Margin %=Operating Income (Q: Sep. 2023 )/Revenue (Q: Sep. 2023 )
=24.019/606.651
=3.96 %

* 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.


Singapore Post Operating Income Related Terms

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Singapore Post (Singapore Post) Business Description

Traded in Other Exchanges
Address
10 Eunos Road 8, Singapore Post Centre, Singapore, SGP, 408600
Singapore Post Ltd is a Singapore-based provider of mail and parcel delivery services. It operates through three business segments: post and parcel, logistics, and property. The post and parcel operating unit provides delivery services such as collecting, transporting, and distributing mail. The logistics segment provides services such as freight forwarding, warehousing, last-mile delivery, and distribution and fulfillment services. The property segment leases commercial and self-storage properties. SingPost has operations in Singapore and Australia, with the majority of its sales in Singapore. Additionally, the majority of SingPost's revenue is generated from its post and parcel business unit.

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