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Bosideng International Holdings (Bosideng International Holdings) Operating Income : $445 Mil (TTM As of Sep. 2023)


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What is Bosideng International Holdings Operating Income?

Bosideng International Holdings's Operating Income for the six months ended in Sep. 2023 was $169 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2023 was $445 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Bosideng International Holdings's Operating Income for the six months ended in Sep. 2023 was $169 Mil. Bosideng International Holdings's Revenue for the six months ended in Sep. 2023 was $1,024 Mil. Therefore, Bosideng International Holdings's Operating Margin % for the quarter that ended in Sep. 2023 was 16.48%.

Good Sign:

Bosideng International Holdings Ltd operating margin is expanding. Margin expansion is usually a good sign.

Bosideng International Holdings's 5-Year average Growth Rate for Operating Margin % was 7.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Bosideng International Holdings's annualized ROC % for the quarter that ended in Sep. 2023 was 19.59%. Bosideng International Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 73.61%.


Bosideng International Holdings Operating Income Historical Data

The historical data trend for Bosideng International Holdings'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.

Bosideng International Holdings Operating Income Chart

Bosideng International Holdings 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 210.18 241.28 348.74 411.19 427.28

Bosideng International Holdings 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 123.08 285.95 148.61 275.90 168.67

Bosideng International Holdings 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 $445 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.


Bosideng International Holdings  (OTCPK:BSDGY) Operating Income Explanation

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

Bosideng International Holdings'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 )
=337.348 * ( 1 - 29.55% )/( (1176.936 + 1249.676)/ 2 )
=237.661666/1213.306
=19.59 %

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))
=3039.18 - 604.334 - ( 1318.175 - max(0, 878.536 - 2136.446+1318.175))
=1176.936

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))
=3231.347 - 972.17 - ( 1009.501 - max(0, 1242.707 - 2358.969+1009.501))
=1249.676

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:

Bosideng International Holdings'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 )
=380.794/( ( (392.673 + max(38.852, 0)) + (357.709 + max(245.357, 0)) )/ 2 )
=380.794/( ( 431.525 + 603.066 )/ 2 )
=380.794/517.2955
=73.61 %

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)
=(108.38 + 390.266 + 268.638) - (604.334 + 0 + 124.098)
=38.852

Working Capital(Q: Sep. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(609.505 + 530.663 + 182.643) - (972.17 + 0 + 105.284)
=245.357

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 %:

Bosideng International Holdings'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 )
=168.674/1023.81
=16.48 %

* 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.


Bosideng International Holdings Operating Income Related Terms

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Bosideng International Holdings (Bosideng International Holdings) Business Description

Traded in Other Exchanges
Address
99 Queen’s Road Central, Unit 5709, 57th Floor, The Center, Central, Hong Kong, HKG
Bosideng International Holdings Ltd is an integrated clothing group in China. It mainly engaged in design, manufacture and sales of down apparel products including research, raw materials procurement, outsourced manufacturing, marketing and distribution of branded down apparel products, original equipment manufacturing products and non-down apparel products. The group operates its business in four segments namely Down apparels, OEM management, Ladieswear apparels, and Diversified apparels. It generates a majority of revenue from the Down apparels segment which carries on the business of sourcing and distributing branded down apparels. The group's down apparel brands include Bosideng, Snow Flying, and Bengen, among others.

Bosideng International Holdings (Bosideng International Holdings) Headlines

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