Globlex Holding Management PCL (BKK:GBX-F) Operating Income : ฿13.6 Mil (TTM As of Dec. 2023)

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What is Globlex Holding Management PCL Operating Income?

Globlex Holding Management PCL's Operating Income for the three months ended in Dec. 2023 was ฿33.8 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was ฿13.6 Mil.

Warning Sign:

Globlex Holding Management PCL has recorded a loss in operating income at least once over the past 3 years.

Operating Margin % is calculated as Operating Income divided by its Revenue. Globlex Holding Management PCL's Operating Income for the three months ended in Dec. 2023 was ฿33.8 Mil. Globlex Holding Management PCL's Revenue for the three months ended in Dec. 2023 was ฿147.9 Mil. Therefore, Globlex Holding Management PCL's Operating Margin % for the quarter that ended in Dec. 2023 was 22.84%.

Globlex Holding Management PCL'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. Globlex Holding Management PCL's annualized ROC % for the quarter that ended in Dec. 2023 was 9.94%. Globlex Holding Management PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 40.00%.

Globlex Holding Management PCL Operating Income Historical Data

The historical data trend for Globlex Holding Management PCL'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.

Globlex Holding Management PCL Operating Income Chart

Globlex Holding Management PCL Annual Data

Trend

Dec14

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Dec20

Dec21

Dec22

Dec23

Operating Income

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-19.58

12.49

165.88

51.41

13.65

Globlex Holding Management PCL 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															34.93	13.22	-17.94	-15.43	33.79

Globlex Holding Management PCL 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 ฿13.6 Mil.

Globlex Holding Management PCL (BKK:GBX-F) Operating Income Explanation

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

Globlex Holding Management PCL'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 )
=	135.148 * ( 1 - 21.32% )	/	( (1269.67	+	869.01)	/ 2 )
=	106.3344464	/	1069.34
=	9.94 %

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	))
=	2942.693	-	465.571	-	( 1273.216	-	max(0, 1433.746	-	2641.198	+	1273.216	))
=	1269.67

	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	))
=	2622.627	-	479.175	-	( 1274.442	-	max(0, 1094.278	-	2372.005	+	1274.442	))
=	869.01

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

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

Globlex Holding Management PCL'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 )
=	243.272	/	( ( (72.343 + max(630.169, 0))	+	(23.141 + max(490.809, 0)) )	/	2 )
=	243.272	/	( ( 702.512	+	513.95 )	/	2 )
=	243.272	/	608.231
=	40.00 %

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)
=	(1039.977	+	0	+	71.131)	-	(465.571	+	0	+	15.368)
=	630.169

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(894.535	+	0	+	86.369)	-	(479.175	+	0	+	10.92)
=	490.809

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 %:

Globlex Holding Management PCL'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 )
	=	33.787	/	147.921
	=	22.84 %

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.

Globlex Holding Management PCL Operating Income Related Terms

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Globlex Holding Management PCL (BKK:GBX-F) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Globlex Holding Management PCL (BKK:GBX-F) » Definitions » Operating Income

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GBX:Thailand

Address

Wireless Road, Lumpini, Phatumwan, Number 87/2, 12th Floor, CRC Tower, All Seasons Place, Bangkok, THA, 10330

Website

http://www.globlexholding.co.th

Globlex Holding Management PCL is a Thailand-based investment holding company. It is principally engaged in securities borrowing and lending. The company operates in three business segments namely Holding business, Securities business, and Other business. The company generates maximum revenue from the Securities business segment. Geographically, the company mainly operates in Thailand.

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