Evolution Mining (Evolution Mining) Operating Income : $314 Mil (TTM As of Dec. 2023)

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What is Evolution Mining Operating Income?

Evolution Mining's Operating Income for the six months ended in Dec. 2023 was $180 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $314 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Evolution Mining's Operating Income for the six months ended in Dec. 2023 was $180 Mil. Evolution Mining's Revenue for the six months ended in Dec. 2023 was $923 Mil. Therefore, Evolution Mining's Operating Margin % for the quarter that ended in Dec. 2023 was 19.50%.

Warning Sign:

Evolution Mining Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -4.4%.

Evolution Mining's 5-Year average Growth Rate for Operating Margin % was -4.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Evolution Mining's annualized ROC % for the quarter that ended in Dec. 2023 was 5.19%. Evolution Mining's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 6.23%.

Evolution Mining Operating Income Historical Data

The historical data trend for Evolution Mining'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.

Evolution Mining Operating Income Chart

Evolution Mining Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Operating Income

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229.99

340.75

395.70

297.37

266.44

Evolution Mining Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial															125.90	173.68	133.57	133.59	179.92

Evolution Mining 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 semi-annually data reported by the company within the most recent 12 months, which was $314 Mil.

Evolution Mining (OTCPK:CAHPF) Operating Income Explanation

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

Evolution Mining'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: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	359.83 * ( 1 - 30.45% )	/	( (4482.361	+	5152.542)	/ 2 )
=	250.261765	/	4817.4515
=	5.19 %

where

	Invested Capital		(Q: Jun. 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	))
=	4531.802	-	312.832	-	( 30.97	-	max(0, 610.682	-	347.291	+	30.97	))
=	4482.361

	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	))
=	5520.885	-	393.901	-	( 127.869	-	max(0, 523.952	-	498.394	+	127.869	))
=	5152.542

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

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

Evolution Mining'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: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	269.18	/	( ( (3898.016 + max(-109.171, 0))	+	(4736.483 + max(-128.466, 0)) )	/	2 )
=	269.18	/	( ( 3898.016	+	4736.483 )	/	2 )
=	269.18	/	4317.2495
=	6.23 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(13.678	+	223.755	+	19.92)	-	(312.832	+	0	+	53.692)
=	-109.171

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(151.786	+	218.738	+	0.00099999999997635)	-	(393.901	+	15.742	+	89.348)
=	-128.466

When net working capital is negative, 0 is used.

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

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

Evolution Mining'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 )
	=	179.915	/	922.866
	=	19.50 %

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.

Evolution Mining Operating Income Related Terms

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Evolution Mining (Evolution Mining) Business Description

Industry

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WE7:Germany EVN:Australia

Address

175 Liverpool Street, Level 24, Sydney, NSW, AUS, 2000

Website

https://www.evolutionmining.com.au

Evolution Mining is an Australian-based gold miner. It sold around 650,000 ounces of gold in fiscal 2023 from five wholly owned mines in Australia and Canada. Formed in 2011 via the merger of Conquest Mining and Catalpa Resources and the purchase of Newcrest Mining's Mt Rawdon and Cracow mines, Evolution has acquired more mines and sold the generally less attractive, higher-cost mines. Cowal and Mungari were bought in 2015, with an initial interest in Glencore's Ernest Henry mine following in 2016, Red Lake in Canada in 2020, and the rest of Ernest Henry in 2022. It has also agreed to buy an 80% stake in the Northparkes copper and gold mine in New South Wales, likely effective January 2024. It had roughly 13 years of gold reserves at end fiscal 2023.